Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-11-16
All Records in Wall Street
Broken by Small investors,
Who See a Chance toGetin
on Ground Floor.
HAM MERING DOWN OF
PRICES RESPONSIBLE
Odd Lots of Securities Change
Hands So Rapidly that Stock
Book Makers Are Swamped;
Sales Total Many Million.

tBy Morning journal Special Leased Wire.I
New York, Nov. 15.-Never in the
history OF Wall street have there been
such enormous purchases Of securities
by investors in odd lots. and the trans
fer books of railroad and Industrial
corporations show today a records
breaking number OF new share hold
ers The present low market prices OF
standard securities Is responsible. The
New York Central railroad and sew
eral other companies report that the
number OF their stockholders have
nearly doubled In the last year. The
transfer departments OF all corpora-
tions are working day and night to
keep up with their work. Where a
transfer of stock is usually effected
IN two days, delays of a week are now
not uncommon.
The distribution of stock to people
of moderate means foretells certain
relief of the monetary situation, for
brokerage houses state today that
these purchases are made outright
with cash Withdrawn from safety de-
pusit vaults or with certified checks.
These sums. ranging In amounts from
Sl0O to $4,000 in the aggregate total
many millions of dollars Bankers
welcome the small investor, for his
appearance betokens a firm conviction
hAHaN AfAf N'eiAi = NNAA~F'ihN WI Nv
maintained
James l.. Carter. who Is in charge OF
the transfers OF J. +. Morgan 4 Co.
I said Today that the purchases Of small
amounts of stocks was breaking all
records. lie added:
with prices az bedrock the small
investor has availed himself Of rare
opportunity to invest his savings IN
securities that will show a handsome
In fra o., g
department has all II can do 20 keep
up with the press OF business. The
number OF share holders in railroads
and industrial companies Is increasing
rapidly, ana as the movement pro-
crosses stocks disappear from the
market and find resting place In the
strong box. All the way from one to
fifty shares are being purchased by
the order lot buyers A feature of the
small lot buying is the investment by
women, who never enter the market
until prices are at the lowest ebb.
Whether II Is instinct or rare judg-
ment that enables them TO detect the
low ebb | am unable TO say, but they
are buying stocks now"
The books Of the Pennsylvania rail-
road have just closed and It is esti-
mated that the number Of share
holders has reached $4,000, an In
tItdNt OF HtNtidi lubNNaHh Dhfi tiid1
of last year. The Pennsylvania Is said
to be gaining on an average about 100
stockholders a day. Edward l.. Ros-
sitter, treasurer of the New York Gen.
tral. said that the stockholders now
total about Is, O00. and that In the last
five weeks over 1900 new names have
been placed on the company's books.
Comptroller Gallup. of the Atchison.
Topeka and Santa Fe, said today That
investors had come into the market
for Atchison stock In such numbers
that the company's transfer force was
working into the night He said that
the buying of odd small quantities OF
stock came from every city and ham,
let throughout the United states. lt
Is approxlmated that In the last six
weeks the number of stockholders in
the Northern Pacific has increased
nearly 5000: while Union Pacific and
Southern Pacific have each Increased
their number OF stockholders by sew
eral thousand \ large brokerage
house reports today that mail orders
for stocks are being received IN guam
Titles from an over the country