Los Angeles herald., 1907-11-16
INVESTORS EAGER BUYERS
OF SECURITIES AT LOW PRICE
By Associated Press.

BY Associated Press,
NEW YORK. Nov. 15.-Never in the
history of Wall street has there been
such enormous purchases by investors in
odd lots, and the transfer books of rail-
roads and Industrial corporations show
today record breaking number of new
shareholders. nv
The present low market price of stand
ard securities is responsible The New
York Central railroad and several other
companies say the number of their share
holders has nearly doubled in the last
year. The transfer departments of all
corporations are working day and night
to keep up with their work. Where d
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
for the monetary situation, for broker
age houses state today that these pur-
chases are made outright with cash with
drawn from safety deposit vaults or with
certified checks. These sums, ranging
in amounts from 500 to $4,000, in the ag-
gregate total many millions of dollars.
Bankers welcome the small investor, for
his appearance betokens a firm convic-
tion that the country's industrial we'll
being will be maintained.
Secretary Trimble of the United States
Steel corporation said today: Some two
years ago 1t was decided not to make
public the number of our stockholders,
but / can say the number OF investors in
small lots during the last month has been
unprecedented, and our transfer force is
struggling to keep up with the work i'm
posed upon it AS in 1905, there have
-nl,o fAf M
securities by banking syndicates, both
here and abroad, which hold them for
numerous investors wnoss names do not
appear on the steel corporations books.
James L. Carter, who is in charge of
the transfer office of J. p. Morgan &
CO.. said today that the purchase of
small amounts of stocks was breaking
all records. He added with prices at
bedrock the small investor has availed
himself of a rare opportunity to invest
his savings in securities that will show q
handsome return in the future. Our
transfer department has all it can do to
keep up with the press of business
"The number of shareholders in rail-
roads and industrial companies is IN
creasing rapidly. and as the movement
progresses stocks disappear from the
market and find a resting place in strong
boxes. All the way from one to fifty
shares are being purchased by the ordi-
nary buyer.
"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 it is instinct or
rare Judgment that enables them to get
in at the low ebb, 1 am unable to say
but they are buying stocks now
The books of the Pennsylvania railroad
have just closed, and it is estimated that
the number of shareholders has reached
30 OOO an increase of several thousand IN
the last year. The Pennsylvania is said
10 he 4aining on an average of about 100
stockholders day. Edward L.. Rossiter'
treasurer of the New York Central rail
road. said the stockholders now total
about $4,000, and that in the past week
over 500 new names had been placed on
the books.
A large brokerage house reports today
that mail orders for stocks are pelns re-
ceived in quantities from all over 'n9
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