New-York tribune., 1914-11-29
Important Stock Exchange
Issues Sell Above Closing
Prices of July 30.
DREADED FOREIGN
PRESSURE LACKING
Day More Like Half SeS-
sion in Midsummer than.
Market Landmark.

July 80. the last day Of trading prior
20 the closing, the reopening yester-
day, in spite OF the fact that it will
be regarded as one OF the important
events in New York's financial history,
took place under circumstance like an
ordinary half days trading in Wall
Street
George W. Ely. secretary Of the ex-
change. al 10 o'clock sounded the gong
that marked a resumption Of open
trading in bonds at or above fixed
minimum prices. II has been nearly
four months since the members have
been permitted TO do business on the
big trading floor. and in celebration
Of the event there were more than
four hundred on hand to witness the
opening. Their pleasure over this
definite step toward a resumption OF
trading in all securities was shown
b. cheering that made up IN hearth
ness what IL may have lacked IN vol
ume
While there was anxiety on the part
OF some that there might be return
o. the heavy selling that character
lied the fateful days prior TO the clos
ing on July 30. the volume OF sales
yesterday showed that these fears
we're croundless. both as regards do
nestle As well AZ foreign liquidation.
The events VI the day also proved thst
the decision Of the committee OF hNe
TO postpone the opening a week iater
than the date originally fixed was un-
necessary. The measures taken oy
the committee. with the sub-commit-
tee Of three. to esrmark foreign sell
ire orders. are being carried out so
successfully that the belief is gaining
ground that it will not be long before
steps are taken 90 broaden the heid
for trading in stocks.
transactions in bonds yesterday
to,ened S649.0OO at prices ranging
from 70 points below the july
80 closing figures. That these re-
auctions caused little surprise. now
ever. was evidenced in the fixed mini
mum levels established with the ap-
Of the committee Of five. These
fairly wide spread for
trading below the last official ruling
quotations. but in some instances the
current minimum price was above the
July 80 price.
Foreign Interests Small.
OF The bonds that were actively
dealt in only a few issues with
broad foreign interest we're represent
ed. and in the case of these there was
M evidence Of an abnormal supply
Six Of the bond issues traded IN are
listed in London as we'll As here ana
of these two are also listed IN Amster-
dam. indicating that they have All I'M
portant market with European invest
ors The sales Of these bonds were
g.. follows: Baltimore Ohio 4'2s,
s9A 600. Chesapeake & OHIO AIS, S2l,-
600; St. Paul general AIS, S33'ooo'
It's. $4,000; Chicago
pcck Island & Pacific Railway refund
inc As $4,000, and Southern Railway
FIRST IS. $4,000. The last two are
listed in Amsterdam.
Sales from 10 to II o'clock totalled
$500 900. and from II o'clock to noon
tbev were 1857 600. OF the bonds dealt
IN $4,000 was in government issues at
nrices ranging / y points under the last
previous sales. The decline was al
trihuted to the uncertainty as 10
whether the demand would oe redueed
an account of the inauguration OF the
reserve system, with possible cohse
ouent slackening Of buying by national
banks as a basis Tor clrculatioh,
The first transaction was IN doai OnlIe'
States Steel sinking fund os AZ 99N' .
decline of IL points from the Jul{ ov
close. The other transactions "nlch n!
foIIowed Immediately were tve DIS
t;Iiars Securities at 90, an advance Of
9Ia. one Chesapeake d Ohio, convert
1DlA - AT 90 2 dllh = - -
cifc convertibles at 6o72.
The issues which showed gains over
N July so prices we're imerican Iele-
nbone and Telegraph convertible 412s,
Pb;c,oo, Rock Island E. Pacific Is, Dis
Z t;iIerS5 Securities 5s, Indiana Steel os,
metropolitan 4'2s, Ne"
Vol, Railways adjustment 5s, Southern
poc;6c convertible As and Texas Com
nsnv Is The list Of minimum prices
nosted bv the subcommittee Of three
rrbraced ninety-seven different issues.
Wbue Stock Exchange authorities
were chary about publicly commenting
ON the first days business on the hoor
of the exchange. the consensus OF opln-
ion in financial circles was 1t
another tangible advance IN a
march toward more prosperous times.
: clifton Mabon, leader IN the bond
crowd, said:
The market yesterday acted very
well. There were a large nui .b,r of
orders both ways and the tone was
firm. Naturally, buyers and sellers
cant get together all az once, owing 10
tho newncss of the machinery, but that
will soon wear Off. ! regard the eA-
pertinent in bond trading as a success
Bond transactions in detail, with
prices. will be found in the financial
section.
Debt TO London Only $250,00O,O0O.
An international banking house with
influential British connections yester-
day received a cable message from Lon