Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1914-12-13
'STOCK EXCHANGE
IS REOPE|:NE:D!. FOR
ACTIVE TRADING
Activity on Floor Revives
Memories of Former
Big Days.
HUNDREDS OF BROKERS
READY FOR BUSINESS
Signal for Opening Causes Wave
of Applause That Swells
Into Vast Flood.
VISITORS GALLERY FILLED
Market Opens With Rush That Sends
Principal Issues Whole Points
SIS Above Minimum.
HUNDREDS OF BROKERS
READY FOR BUSINESS
VISITORS GALLERY FILLED
Market Opens With Rush That Sends
Principal Issues Whole Points
Above Minimum.

NEW YORK. December 12.-wail
street came into It's own to-day. The
Stock Exchange. closed for nearly four
and a half months. except for limited
trading In bonds during the past two
weeks was reopened at 10 o'clock this
morning for active trading in stocks.
One hundred and ninety-two Issues
were approved by the governors
for trading, and though the issues
were barred. notably United States
Steel, actively on the floor of the es-
change revived memories of big days
ten years ago.
Not for many years has there been
such throng of brokers on the floor
as that which waited patiently for
nearly an hour to day for the signal to
resume trading. There are LOO mem
bers OF the exchange and nearly 700. II
was estimated, were on the floor.
Many OF the others smiled down from
the west gallery.
The visitors gallery. across the way,
was thronged. Half or more of the
hundreds who gazed down at the un-
usual scene on the floor were women.
Although admission was by ticket
only and the issuance OF tickets was
rigidiy vised, doorkeepers eyed keen
ly each person admitted to make sure
that none of omb-throwing tendencies
had entered. flttt ,E
Tho frBt chime OF Trinity Church's
10 o'clock bell has long been the
signal for sounding the opening gong
on the floor OF the exchange. AS the
church clock struck, a wave OF ap-.
plnusc went over the exchange. and
swellcd into vast flood as the gong
sciattefed5 nofsily In resp p6nse.s ~ 4 y
HUNDREDS OF BRoI<ERs .so
AROUND TRADING POSTS
- Vben the nbeerinx aubaided IN, q
great hum, and the hundreds OF brok-
crs began grouping themselves around
the trading posts. The galleries gazed
down in dwindling interest, and slow
ten minutes the floor of the exchange
was white with torn fragments Of
thousands Of memoranda.
There was scarcely need. II seemed.
during the first few minutes OF trad-i
Ing. for tho posting Of minimum prices.
Tho market opened with a rush, and
nm 6ld-time upward swing that sent
the principal issues whole points above
the rock-bottom figures determined
upon by the, committee iIE advance.
There was one feature, howfyfF that
was not Mt all In keeplngAE3th the
activity OF the big days of more pros
porous times, and that wasSthe small
volume of single trades. MostIof the
trading was in blocks of 100 ito 800.
shares. and much OF 1t was In blocks
Around posts II and 12Son the floor
OF the exchange the crowds were
thickest. AT these posts Reading and
the coppers. such OF them as were not
barred, were bought and sold AL
though trading was most active there.
the volume continued to be small. few
single lots OF more than, 800 shares
changing hands. The largest early
single transaction was sale of
block of 1.400 shares of Reading. That
opened at more than points above
the minimum prices,
Notwithstanding the skyrocket adj
vances over the minimum, trading
seemed to assume a cautious tone. The
greatest gain noted was one of more
than 26 points by General Motors
Texas Company stock came next with
a rise of 18 points above the mini
mum, and many more active issues.
such as i.ehigb Valley. Tennessee
Copper, American Beet Sugar. and Gem
trail Leather showed gains from 5,l-2
to 10 points. Some stocks declined.
notably Southern Railway preferred,
which went down 31-2 points from the
opening.
SPECULATION CuRBED AT
EXPENSE OF VOLUME
Trading to-day was only for cash.
In that way the governors curbed
speculation. though. 1T was believed, at
the expense of the volume OF tr-.,ng.
Within the first fifteen minutes II. was
estimated $4,000 shares had changed
hands. That ordinarily would be a
poor record. The actual number OF
transactions however. was vastly In
excess OF ordinary, as most of the
transactions were in small lots.
Although open trading on the floor
of the exchange was forbidden In
United States Steel, Anaconda Mining
and certain railroad stocks held largely
abroad. these Issues were traded in
scmiprivately under supervision of the
Stock Exchanges clearing house and
committee of five. None of the re-
strictions on bonds In force during the
past two weeks. was lifted with the
resumption of trading In stocks. Bond
transactions, however, were dwarfed by
the stock trading.
Business was more active ard the
undertone stronger In the final hour,
with a higher level for most OF the
prominent issues, Reading was the
4 active feature, increasing Its gain to
over eight points. Lehigf Valley
gained twelve points; st. Paul, five and
7 threesquarters, and Northern Pacific,
two and three-quarters. Sensational
: gains were also made by other spe-
.cialties. Peoples Gas jumped eleven
points. The closing was strong.
Receiver for Piano Company.
n y YNn.1 n H ff. s