Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1903-10-14
DROP MAKES BUYERS
INCREASE OF STOCKHOLDERS
IN LARGE CORPORATIONS
PEOPLE BUY SMALL LOTS AT RE.
DucED FIGURES-ATcHlsoN
is PoPUlAR-BuYERS
OF STEEL.


decline in prices in the stock market,
II is estimated that there are at the
present time fully $4,000 more stock.
holders on the books OF the leading
railroads and industrials than there
we're at the opening of the year. This
! is considered a conservative figure.
Several railroad officials estimated the
increase In the number of stockholders
during the last six months at 10000 to
100000.
During the last month the transfer
offices Of the leading railroads and in.
dustrials have been kept open from
S a. M. to and 10 y. m. to meet the
unusual demand for transfers of stock.
The Pennsylvania Railroad and the
United States Steel Corporation have
been Obliged several times to keep
their transfer Office open until nearly
midnight. The office employees have
worked in shifts and the forces have
been increased
Small Buyers Busy.
This activity is due to the recent
heavy investment buying in the stock
market. particularly the odd.lot buy.
ing by investors with small means.
This odd'lot investment buying has
been on the largest scale witnessed in
Wall street. Traders generally agree
that the buying during the last few
weeks has exceeded anything OF the
Kind witnessed before. These orders
have come from practically every
state In the Union. They are chiefly
In small lots, 3d. 20, 20 To- 10, and
as low as shares. While there have
been many orders by wealthy investors
Tor large blocks OF stock at least 80
per cent oil the recent investment buy
ing has been In lots less than 100
shares.
All Of this stock has been paid for
outright and taken out OF the market.
The actual stock has been transferred
to the name OF the buyer and has
been locked up as an investment. Inc
decline In prices has also caused many
spectators, VINO were carrying STOCKS
on margin, to pay Tor them outright.
a number OF Instances are reported OF
persons who bought steel common
above 80. AZ this stock declined the
brokers called upon them for more
margin. When the stock last week
sold below ~ large NUMBER OF per-
sons who were carrying II on margin
instead OF putting up more margin
paid Tor the stock outright ana mad
II transferred TO their names. IRE
Nlously the STOCK was carried In the
name OF the broker.
Pennsylvania's Increase.
pennsylvania has at present 3i'ooo
stockholders This Is an increase Of
1000 over the preceding dividend pc
Rod. Onicials OF the company expect
that before the November dividend
, the STOCKHOLDERS VIII proDaDIy NUMBER
! 4O.OoO. FOR the last SIX months the
increase mas Appropriated l'ooV every
~ days
inc odd'lot investment buying IN
the united states steer ISSUES mas Deeh
even larger than IN PehhsSiNahla T.
When the DOCKS Tor the preferred ulN'
ldehd CLOSED IL was seen that thete
= had been an increase OF ABOUT ='ouo III
ln' n"'"p'' VI p''''''eu ''o'
Inc DOCKS lot the prelerreu uiEiuehu
closed over TWO months ago before
the heaNy investment buying started
since theh tne NUMBER Oh preferred
stocKholders mas increased nearly o.
OoO' Ihe largest increase however u
I SHOWN IN the common STOCK me Qua
j lot investment Duyihg III this issu'
i mas been particularly heavy ever since
e the price broke 10 20. Inc DOCKS 10
= the common dividend VIII ciose Oh
c september " Is eNpecteu 'hat th'
u NUMBER Oh stockhoiders VIII theh snow
/ an lhcreaso Vi pot"eoh o'oVV "i''