Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-12-14
UNLIMITED DEALINGS
WILL BE ALLOWED
I IN N. Y. TOMORROW
Special Committee Lifts Ban
on All Stocks Copper
and Railroad Shares Led
Market Today.

NEW YORK, Dec. n.-UnHmited trad
ing will be permitted on the New York
Stock Bxchage beginning tomorrow. Up
to the present time trading has been per
mltted only in certain stocks named by
the special committee of flve, which ruled
out such stocks as United states Steel
and Others, in which heavy specuTating
might influence the market.
The announcement that the ban was
hfted on all stocks came this afternoon.
when Secretary Ely, OF the Stock Ex-
change, issued the following statement:
The special committee of fve rules
that beginning tomorrow, December 49,.
all stocks now being dealt in through
the Committee on Clearing House will be
admitted to dealings on the floor OF the
exchange. at or about the minimum prices
heretofore established by the committee
and under the provisions of rule No. 94'
Copper shares We'd with railroad stocks
for leadership of the market today with
the balance in favor OF the former. Anal
gamsted Copper was the most active OF
the group, advancing 47s to- 5e1k from
Saturdays close. American Smelling adj
vanced to 50. up 2ih Nevada Consolidated
2 to IA; Ray Consolidated 19s to 1875;
Tennessee Copper to IS, and Utah Cop
per to Sly.
Shorts are on the anxious seat in wall
street and the uneasiness on the part
Of those operators who we're committed to
the bear side on a large scale in July
waB reflected in urgent efforts to cover
stocks today. There was general de-
mand for the return of borrowed stock on
the part of lenders. who now find little
t, ntNt tnsy ,gln
tions at low rates. In some stocks these
efforts became frantic when IL found how
ncant the supply was.
This was particularly the case in
Amalgamated Copper, in which bear OPP
erations had been heavy during the
period the exchange was closed. In Oc-
tober these operators sold Amalgamated
MS low as 81 on the New street curb i'm
mediately after the dividend reduction in
October, but then copper metal was
ike. q pound against l3hc. today.
There is a good deal OF gossip here to
the effect that all through July Anal
Rnmated had been bought for what is re-
ferred to as the syndicate. and the stock
sold in October Is also said to have been
accumulated for the same interest. In
certain Independent quarters these stories
find credit and it is assumed that other
copper stocks were also accumulated
both on the board in July and on the
street in October.
Sales OF United States Steel were made
through tho Clearing House at 81. which
compares with a minimum price of As.
Strength in this issue was attributed to
the optimistic comments of President
Farrell, of the corporation.
He says:
'Tslook for improvements after the
opening Of the new year. L am of the
opinion that there will be demand for
iron and steel products after the railroad
rate question is decided. I believe we
arc to experience a considerable demand
for iron and steel for shipbuilding, but
that may be tardy In developing"
Led by Uehigh Valley, eastern railroad
shares made further advance. Lehigh
Valley jumped four points to 1888; Read
ing 2ss to 1908; Erie. 1b to 2S%; Pennsyl-
vanla, ] to 1O9. In the early trading
Pennsylvania went of fanticaly, but
later recovered,
The strength in these issues was based
on the report that the Interstate Com
merce Commission would grant the car
riers an Increase In freight rates. Some
said that the decision would be handed
down tomorrow, while others we're of the
belief that it would be given out prob
ably on Saturday.
Money loaned at ah per cent.