The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1914-11-28
Trading Restricted to
Bondsfor Which Min
imum Prices Were Es-
tablished
INITIAL SALE
WAS u. S. STEEL
After First Fifteen Minutes Trading
Lapsed Into Extreme Dizziness,
With Mixture of Gains and Losses
ST. Paul Largest Single Deal
By Associated Press.

New York, Nov. 2S.-The New York
Stock Exchange resumed operations in
a tentative way to-day for the first
time since July 80 last. when the for
eign situation, already tense, caused
the cessation of business of all the
leading financial markets of the world.
Trading was restricted to bonds for
which, in all issues, minimum prices
were established.
All transactions were for cash and
every effort was made to exclude for
eign selling. The attendance on the
floor of the Exchange when the gong
sounded at 10 o'eloek was unusually
large. The sound brought. cheers from
the brokers. Thereafter business went
on in the usual orderly fashion.
Little Business at Outset
There was little business at the out
set of the session. The first transac.
tion recorded was the sale of five bonds
of the u. s. Steel Corporation at 80 ga,
a decline of IA from the closing price
of July so. The next transaction was
the sale of five bonds of distillers Sc
cufities 5s at Sc, an advance of IL.
Then followed the sale of a single
Chesapeake and Ohio bond at decline
of 1-1-2 with later offerings of small
amounts of such issues as Southern Pa
eifc convertibles, Ray Consolidated s,
st. Paul General Mortgage las and
Northern Pacific As. These showed de.
elines ranging from a substantial frac-
tion in Southern Pacific TO rs points
in Ray Consolidated. There were 9th.
er sales of Steel and Distillers and the
issues already named at declines from
the first recorded prices. The total
amount of business for the first fifteen
minutes of the session was $4,000
par value.
Largest Single Transaction
The largest single transaction was
the sale of twenty st. Paul general
mortgages 4 las at decline of 2 IA.
After the first fifteen minutes trad
ing lapsed into extreme dullness, with
a mixture of gains and losses. st. Paul
eonvertibles LIS were up 1-2 while
Southern Pacific convertibles As gained
IA and Central Leather 5s rose 1-2
per cent. U. S. Government issues bid
prices were down 1 to points, with
an actual sale of registered As de.
cline of / "a.
Selling pressure about which there
has been so much apprehension did not
appear during the first hour, much to
the satisfaction of the financial dis.
triet. Instead many brokers said they
had commissions TO buy five or six
bonds against every one they had to
SELL
A subcommittee of three of the COM
mittee of five sat at tables close to the
/ bond platform for the purpose of fix.
/ ing minimum prices for inactive bonds
or making any changes which might
become necessary in the announced
minimum quotations of active Issues.
Declines in Final Hour
! Declines were recorded in the final
| hour, Lorrilarl 5s and Is falling rs
and 4 5-S respectively while Southern
Railway is broke six points, Seaboard
Air Line adjustments points and Wa
bash first IA. Atehison general As
dropped 1 IA and Erie General LIS
IL. Minor recess.ons were made by
Burlington Joint As and Reading As
while Lake Shore Debentures of 1881
broke l rs.
The heavy losses sustained by such
issues at Seaboard Southern Railway
and Wabash indicated that the author
tiles of the Exchange hal virtually re-
moved all price restrictions in the more
obscure bonds.
Among the few additional gains were
Bethlehem Steel 5s, l SS, American
Telephone and Telegraph Convertit,,s
l Is, New York Railways Adjust
ment 5s, 2-1S; Brooklyn Transit 5s,
| IA; Texas Company Convertibles IS,
l IL, and Rock Island Collateral As,
1 9-S.
The total business for the session
amounted to $4,000 par value, with
$4,000 in government bonds.