The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1914-12-12
BROKERS 1HRONC
FLOOR AT OPENING


themselves in knots around the trading
posts. The galleries gazed down il
dwindling interests and slowly began
to empty. Within less than ten min
utes the floor of the Exchange was
white with paper snow-the torn frag
ments of thousands of memoranda.
Opens With Old Time Swing
There was hardly need, it seemed
during the first few minutes of trad
ing, for the posting of minimum prices
The market opened with its old time
swing that sent the principal issues
whole points over the rockbottom fig
ures determined upon by the commit
tee in advance. There was one feature
however, that was not all in keeping
with the activity of the big days OF
more prosperous times, and that was
the small volume of single trades
Most of the trading was in blocks oi
100 to 800 shares, and much of it was
in blocks of less than 100 shares.
Around posts l and IL on the flool
of the Exchange the crowds were thick
est. At these posts Reading and the
Coppers-such of them as were moi
barred-were bought and sold. AL
though the trading was most active
there, the volume continued to be small
few single lots of more than 800 shares
changing hands. The largest single
transaction recorded during the early
trading was sale of block of ,400
shares of Reading. This stock opened al
more than five points above the mini
mum prices.
Trading Resumes Cautious Tone
Notwithstanding sky-rocket ad
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. Tex
as Company stock came next with rise
of 1S points above the minimum, and
many more active issues such as Lehigh
Valley, Tennessee Copper, American
Beet Sugar and Central Leather show
ed gains from 1-2 to 10 points. Some
stocks declined, notably Southern Rail
way pfd., which went down 1-2 points
from the opening figures.
Trading to-day was only for cash
In this way the governors sought to
curb speeulation-and succeeded
though it was believed at the expense
OF the volume of trading. Within the
hrst quarter of an hour, it was esti
mated that $4,000 shares had changed
hands. This, ordinarily, would be q
poor record. The actual number of
transactions, however, was vastly in
excess of the ordinary as most of the
transactions were for small lots.
Bond Transactions Dwarfed
Although open trading on the fioor
of the Exchange was forbidden in o.
). Steel, Anaconda Mining and certain
railroad stocks held largely abroad
these issues were traded in semi-pri.
vately under the supervision of the
Stock Exchanges clearing house and
committee of five. None of the restric.
tions on bonds, in force during the past
TWO weeks, was lifted with the resump.
tion of trading in stocks. Bond tran.
sactlons, however, We're dwarfed by
trading in stock as was predicted.
Business was more active and the
undertone stronger in the final hour,
with higher level for most of the
prominent issues. Reading was the
active feature, increasing its gain TO
over points. Lehigh Valley gained
II points, st. Paul ga and Northern
Pacific 2 "a. Sensational gains were
also made by other specialties. People s
Gas jumped II points. The closing
was strong.