Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-12-13
NEW YORK REVELS
IN GOLDEN ORGY
worlds Wealth Pouring
into Metropolis Spend
ing Is an Occupation
VAST GAMBLING TABLE

,.rvv Work.. pee. is-New York is roll
-. ssvellpa rblilckns In wealth.
sssts n a iinever he fore In -hiHtory" story.
..l.',trg the spotlight on the contrasting
si.,arss prosentod by the gigantic struggle
4 rorope. where for twenty-eiAht months
* worlds attention has been eentered. and
..,.v.rnad prosperity-owned New York,
.ssrs cold ls Rowing In from the stricken
rstions OF Europe, and Is being thrown
sseut in an orgy Of Bshylonlan eStravR-
sanca
Nsu, york banks today held reserves ~
,sts fAa 600 and from every quarter of
"a globe money is pouring in--actual yell
ibw cold By the million. to be changed from
ths coin OF other nations into the coin Of
the u 3 A.
HUGE GAMBLING TABLE
wall street has become a gambling table
ontn which Is being thrown money from
~ earnings, winnings and savings OF
Americana and money from the Golfers Of
while thn large majority OF New York'a
s,r millions are fighting the universal des-
n.rate battle with the cost OF living. on the
enrface IL appears that everybody has money
"A spend They are spending II for neces-
stiles and luNurles.
Eor,y or more blocks in Manhattan are
,,y,n over entirely 20 that ancient trio
wine. women and song war-brido dividends
nave given nighttime broadway new life.
Men whose business II Is to take money
from spenders say they never were able to
tate 30 much OF u before.
Anolen, Babylon could be set down inside
Nav Yorks winter pleasure grounds with
o,it being noticed NebuchadnezSar would
NOT have n reputation outside his own block.
C,abarerJ have sprung up like mushrooms
and dance halls thrive as In any new gold
camp,
1Tiunlness ia three times as big as the
hlareEt we ever saw before this season"
aaId The manager Of tho largest cabaret In
the city.
Hotels are crowded, theatres arc sold out.
S,rowtrs that the "shop-eRrly" slogan do not
account for MI the department stores.
Warehouses are depleted OF stocks and do.
lIyerles are far behind. New York Is spend
ins ltp money and getting what 1t can for II,
But Il keeps pouring In
STOCK EXCHANGE FRENZY
On the Stock Exchange millIon-share days
have come 20 be considered the regular
thing. whereas two years ago 400 900 shares
vas good days trading. When. every
now and then. the trading reaches two
million shares. scarcely is II noticed.
Over and round about the floor or the Stock
Exchange they have put wire bomb net
ting TO ward of any possible eventuallty.
and on the floor the traders are buying and
selling in frenzy such as they never knew
before AZ least, they so describe II. Mo-
body not member of the Exchange can sec
them trade. even the members guest gallery
having be0n closed. But SRturday-the an
nlveTsRry, by tho way, of the reopenlng of
the Stock Exchange after being closed four
months following tho beginning of the war
transactions In the two hours session
totaled 659.09i shares.
The prices Rt which these shares are
being dealt in are such prices as the ex.
change seldom has known. Steel stocks
offered at ~ two years ago now have a
mob Of shouting, clamoring men bidding for
them at afteen times that price.
One OF the reasons for the money-Hpend-
ing New York Is witnessing daily-and
nightly--may be found in these figures.
showing the price OF certain stocks at the
opening OF the Exchange today contrast
ed with the price two years ago.