The Washington times., 1914-12-12
NEW YORK EXCHANGE
FINDS PRICES RISING
Reopening After III Days Dis
closes Optimism and Actiy-
ity Among All Parties.

NEW YORK. Dec. 12-After a sus-
pension Of Ill days. the New York Stock
Exchange resumed stock trading at 10
o'clock this morning on a boom mar
ket. With practically every one Of the
lS3 issues listed for open trading, IN
which transactions were recorded above
the closing prices of July 3o-the last
cay that operations were conducted on
the foor-several issues, both railroads
and indus Irials, registered what might
be termed abnormal advances A spirit
of optimism stirred both operators and
onlookers, and the result vas reflected
in the business transacted.
Though the volume of business done
was not large when compared with past
records. the breadth of the market was
encouraging. During the first hour the
sales amounted to 5000 shares. which
total at the close at noon had been
swelled to l12,229 shares.
Pandemonium Answer Song.
When the hands OF the great clock
pointed at 10 there was assembled on
the floor the largest number Of brok-
ers in attendance in the memory Of
the oldest operators, while the gall
leries were taxed to capacity by the
greatest crowd that has ever wit
messed the oprations Of the exchange.
The ringing of the gong, heralding
demonium; the surging mob Of brok-
ers shouted and filled the air with
impromptu confetti made from men,
orandum slips, and the throngs in the
galleries mingled cheers and hand
clapping.
During the first five minutes the
fastest trading in the history Of the
exchange occurred. as brokers In
numbers besieged various stock
posts" yelling orders A few min
utes. however, served to spend this
eXuberance. and the exchange again
took on all the aspects of the old
order.
Shorts Grow Nervous.
The relative absence Of liquidation
was the predominating feature Of the
trading, with the consequence that short
interest became nervous and covered
somewhat freely, sending the market
generally to high levels.
On the strength of predictions or a
decision from the Interstate Commerce
Commission within a few days increas-
ing freight rates, support was lent 10
the railroad stocks, while the copper
stocks were serong as result OF recent
Improvement in the couper situatlon
arising from the declaration Of diNt-
dends by the several companies. and
the increased consumption of American
copper abroad, which is goinG into the
foreign countries through British mer-
chants and the sale of American manu-
featured products
The sa isfactory manner IN winch
the opneing was received by the IN
vesting public today leads many OF
the more experienced brokers to pre-
dict that many issues now excluded
from the list of stocks that may be
traded in upon the floor, will soon be
added to that list.
Reading was one Of the most active
stocks of the day, and registered
large gains Several blocks of thous-
ands Of shares were disposed OF, but
this was only because of the sharp
advances in the issue This stock,
which closed July 80 at 1856. sold up
to 1865. General Motors, however,
was the issue which registered great
est gains. jumping rs points above
the July 80 price to Sc
Other sharp gains over July prices
were recorded by Texas Oil, which
advanced 221s points, to 1925 Amer
lean Can, that gained Sc points,
reaching 25%, and Lehigh alley, that
sold up Is points to 1874.
Erie common. Missouri Pacific, and
New Haven. all comparatively weak
at the close, were exceptionally
strong.