The Washington times., 1914-11-25
NEWYORK EXCHANGE
RESUMES SATURDAY
Notice of Limited Trading in
Bonds Creates Spirit of 0p-
timism in Capital.

On Saturday the New York Stock
| Exchange, which suspended all trad
| ing on July Fl, the day that martial
! law was declared in Germany, will re-
sumo operations for limited trading in
bonds. This announcement has created
| a spirit Of optimism and aroused en-
thusiascn among the Washington bro1-
| crs who deal in the securities listed on
| the New York board. Each of the
brokerage houses handling such busi-
ness is preparing to resume operations
at 10 clock Saturday, and predictions
| Of a healthy revival OF business are
| being freely made
The determination of the board of
governors of the New York exchange
| to resume operations with a limited
trading in bonds, after a complete sus-
| pef'sion for nearly four months, is her
! ded in this city, and throughout the
| country. by financiers as probably the
most important development in financial
| afairs since the exchange found it
necessary to suspend, after several days
OF semi-demoralization, on the morning
| OF July 81.
Local brokers are predicting a wider
! market for bonds than has ever here
totore existed, and among members Of
sentiment for resumption of opera
tons on that board is rapidly grow
ing. Allan f. Walker, president of
the Washington exchange. said today
that the board OF governors of the ex-
change would meet at 12:lo Friday ar-
ternoon in the board rooms OF the
American Security and Trust Company
at which time the question of reopen
ing the exchange would doubtless be
discussed. The prevailing opinion
hot. ~fA l<o,
Is that resumption of activity on that
board will be postponed until next week,
at the earliest.
Plant Sees Betterment.
Among the comments passed by
Washington brokers on the business
prospects resultant from the opening
of the New York Exchange were the
following:
Arthur G. Plant. of A. G. Plant and
Company, bankers and brokers':
Il am an optiEIist, and can see moth
ing but bcttCrment of conditions.
Never before have l had SO many in
qulrieS for investment securities as
within the past three months. The
! closing Of the exchange has apparent
ly simulated investors, and they are
seeking about for securities, apparent.
| " with q view TO securing bargains.
The opening of the exchange for bond
tradinS, with operations in stocks pre-
cluded. will necessarily make a broad
er market for bonds in Washington
than las ever before existed. | think
that at this tinle many investors would
prefer bonds to stocks. desiring to wait
a while before purchasing stocks to
have opportunity to determine the sta
bility of the stock market"
G.. Bowie Oh 'pman local manager for
Hartman 6; Co.: THE resumption Of
business on the New York Exchange
though greatly restricted, will tend to
stimulate interest in the investment
market, and establish a greater feeling
Of confidence among the public. 1t also
will tend to create a demand for the
reopening of the Washington Stock Ex-
change. and cause a more general de-
mand for bonds than has ever been
known in this city
Albion *. Paris. of Crane. Paris e.
Co: Il regard the opening of the New
York Stock Exchange for trading in
bonds under the very limited conditions
as being entirely experimental and SEN
timental. Just what the outcome will
be tending to increase business in the
bond line remains to be seen.
Demand For Securities.
One thing is certain, there is al in
creasing demand everywhere for high
grade securities. Investors are restless
Will luHhS llflS ana q loss OF
income thereby. That is why the in
vestment demand has so materially IN
creased"
". w. Spaid. OF W. L. Hibbs x Co:
The effect Of resumption OF tradlng
on the New York exchange. as now re-
Srlct"d. will be principally sentimental
IN this city. 1t will serve to create
interest III Investments and restore con-
hdence. In addition il Will stimulate
bond trading 10 q degree that has never
Dcfor" been known in Washington"
Trading Will be confined to bonds, and
In these issues minimum quotations will
he fixed below which no transactions
Will be permitted. The committee Of
hVe. which has been directing such
trading as has gone on among members
Of the exchange. during the period that
the board was closed viii meet each
morning. pI1or to the opening of the
exchange. and fix the minimum prices
While II is more than probable that
there will be considerable foreign linui-
datiOn in bonds. as soon as the oppor-
tunity for trading is offered, 1t is gen
orally believed that the selling can be
absorbed without any approach O.
panicky conditions arising. There are
about 100 bond issues listed on the
New York Exchange and brokers he
lieve. in view Of the numerous inUuir-
les recently made for investment is
sues, that the trading will be heavy.
Quotations upon bond dealing will not
81