Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1914-12-13
STOCK EXCHANGE
OPENS WITH BOOM


Continued from Psge pns)
the gong ceased ringing the cheering had
died down to q great hum. and the hun
dreds OF brokers were grouping them
selves In knots around the trading posts
The galleries gazed down IN dwindling in
terest and slowly began to empty. Within
! the first ten minutes the floor OF the ex-
change was white with paper snow-the
torn fragments OF thousancs OF memoir
andn.
Prices Rise Rapidly.
There was hardly need. IL seemed. DUR
ing the first few minutes OF trading. for
the posting OF minimum prices. The mar
ket opened with rush and an old-tIme
upward swing that sent the principal is-.
sues whole points above the rock bottom
figures determined upon by the commit
tee In advance. There was one feature.
however that was not at all In keeping
with the activity Of the big days Of more
prosperous times, and that was the small
volume OF single trades. Most Of the
trading was in blocks OF 100 TO 400 shares.
and much OF it in blocks Of less than 100
shares.
Around posts II and ~ on the floor OF
the exchange the crowds were thickest
AZ these posts Reading and coppers--such
Of them as we're not barred--were bought
and sold. Although the trading was most
active there, the volume continued to he
small. few single lots OF more than 400
shares changing hands. The largest sim
gle transaction recorded during the early
trading was sale OF 1,40O shares Of Read
ing. This stock opened at more than five
points above the minimum price.
Few Stocks Decline.
notwithstanding sky-recket advances
over the minimum. trading seemed to as
sumo a cautious tone. The greatest gain
noted was one Of more than % points by
General Motors. Texas Company stock
came next with rise OF IS points above
the minimum, and many more active Is
sues, such as Lehigh Valley. Tennessee
Copper. American Beet Sugar and Cen
trail Leather showed gains OF Ga to 10
points. Some stocks declined, notably
Southern Railway preferred, which went
down Sh points from the opening figures.
Trading today was for cash only. In
this way the governors sought 70 curb
speculation, and succeeded, though It was
believed. at the expense OF the volume
OF trading. Within the first quarter Of an
houfs " WAS ehtlHnatou tffat to.uVV ShareG
had changed hands. This ordinarily, would
be poor record The actual number OF
transactions. however. was vastly In ex-
cess OF tho ordinary, as most OF the trans
actions were for small lots.
Although open trading on the floor OF
the exchange was forbidden In United
States Steel, Anaconda Mining md certain
railroad stock held largely abroad. these
issues were traded in senhi-privately under
the supervision OF the stock exchange
clearing mouse and committee Of five.
Mono OF the restrictions on bonds, In
force during the last two weeks. was lifted
with the resumption Of trading in stocks.
Bond transactions. however. were dwarfed
by the trading In stocks. as was expected.
Business was more active and the I'M
dertone stronger in the final hour, with
a higher level for most of the prominent
issues. Reading was the acti Q feature,
increasing Its gain to over points.
Lehigh Valley gained IL points. ST. Paul
6& and Northern Pacific az. Sensational
gains were also made by other speciaities.
Peoples Gas jumped II points. The clos
Ing was strong.