New-York tribune., 1914-11-12
Restrictions Removed with
PrOviSO Against Public
Quotations.
SIMILAR ACTION
IN PHILADELPHIA
Curb Brokers Cheer and Resume
Active Business-Secrecy of
Quotations Criticised.

The efforts Of bankers and Stock Ex-
change officials to bring about a re-
sumption of trading in the securities
markets without causing any retro
grade IN the marked improvement that
has been noticeable in the financial sit
uation during the last few weeks wero
productive OF further results yester-
day. The committee representing the
dealers in unlisted stocks, which with
the cooperation of the Stock Exchange
committee of Eve has had supervision
OF transactions in those securities an
nOunced that there was no further ne
cessity for keeping in force the re-
strictions covering trades and that the
market for unlisted stocks was to be
free with the one proviso that quota
tions should not be made public.
This announcement was made public
AZ noon and shortly thereafter the curo
brokers eviuced their pleasure at the
committees action by throwing their
bats In the air and by cheering. The
brokers. assembled In groups, which
they have not been permitted TO do
since the closing on July 81. and i'm
mediately began trading in their spe-
cialtics.
cance of the opening up OF the curb
market a governor of the Stock EX-
change said that yesterdays step
meant that the time for opening the
exchange was drawing nearer. Now
that the ban upon unlisted securities
has been lifted, he stated. the next
move will be TO remove the restrictions
on the listed stocks. Following is the
statement issued by the committee on
unlisted stocks:
after conference with the special
committee of five of the New York
Stock Exchange, IL has been decided
that the Improvement in the general
financial situation has removed the
necessity for the supervision over
trading in unlisted stocks, and conse-
Quently that this committee has served
the purposes for which IT was orga-
nized
"From this date, therefore, the COM
wittce will cease to act. But II wishes
10 impress upon dealers and brokers
the importance of continuing it's policy
of non-pubicity OF quotations and
transactions. in the interest Of the
public welfare"
The Stock Exchange committee Of
FIVE issued a supplementary statement
approving The step taken by the deal
ors' committee. Immediately following
the announcement of the action taken
I'm this city, q similar ruling was made
in Philadelphia, and in that city there
viii also be q free and Unrestricted
market in unlisted stocks.
1t was the opinion of those high IN
Wall Streets administrative circles
that the release of the curb brokers
from the embargo placed upon them at
the outbreak of the European war
would produce no unfavorable results.
The reasons given were that there Is
no extensive speculative position III
unlisted securities that is likely to be
liouidateG. and there are no large bank
loans secured by curb collateral, that
will be called. now that the collateral
may be sold in an unrestricted market.
The only criticism heard Of the
opening of the curb market was the
continuation Of the policy Of keeping
quotations from being made public.
With investors deprived of the knowi-
edge of the prices established, 1t was
asserted they will be placed at a great
DISADVANTAGE while no quotations
we're made public yesterday through
the official medium of the Curb Asso-
citation. The Tribune is able TO present
the bid and asked prices Of the oil
stocks and actual transactions that
took place others. They follow:
Bid and asked quotations on former
C4,DI-vl OIL eub -idiarlpg were.