The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1925-10-17
. s:: MARKETS I! a.! I: E. T.:
SPECULATION
BREAKS FORTH
IN GREAT FURY
Motors Assume leadership
Many Stocks Register
Unprecedented Gains

New York, Oct. 17.-(F-Specula-
ton in stocks broke forth with in
creased fury at the opening OF to-
days stock market with the motors
again assuming the leadership of the
advance. Blocks Of 1000 to 5000
shares were quite common IN the
first few minutes of trading, Hudson
Motors opening points higher at
10, new price, and initial gains OF
! to 3 points being registered by
Dupont, American Safety Razor, Jor-
dan Motors. Chrysler and Cushman's
Bakery
Motors continued to change hands
in enormous volume throughout the
early trading, General Motor NOV
ing up 3as points to 1855, Yellow
Cab advancing 5H points to 4oh,
both new record tops, and White
Motors and Jordan advancing 5A
and four points. respectively. U. S.
Steel Common moved up a point to
1881, or just rs points below the
peak price established last spring.
Among the many other issues to
show early gains of points or more
were Mack Trucks, U. S. Cast Iron
Pipe, International Business Ma
chimes, Continental Insurance and
Postum Cereal, the last named jump
ing over five points. Foreign ex-
changes were reactionary with the
exchange Of demand sterling which
held firm around 483A. French
francs broke 4 points to 445R cents
and Danish and Norwegian kroner
yielded G and points, respectively.
GAINS CANCELLED .
New York, Oct. l7.-R-Wild
fluctuations and price movements
characterized today's record break
ing half holiday stock market. Mo-
tor stocks were bid up l to points
in a frenzied -outburst of buying at
the opening and then collapsed 2 to
10 points from their early highs
under the weight of an enormous
volume Of profit taking sales. Hud-
son Motors opened 2 points higher
at LOG and then cracked to around
SO, General Motors advanced five
points to new high at 1877 and broke
to $780,. and Yellow Cab practically
cancelled its early five point gain
The intensive speculation was ap.
parently conducted without regard
TO the days news, which. however,
was largely favorable. 1t inc!uoe
further reports of business improve
ment, the announcement of addition
al gold shipments which will make
available larger sums for CONNER
cial and stock market purposes and
the passing of the mid-month set.
Elements without any permanent,
strain on the cerdit situation. A
sustained demand developed for the
high grade rails with New York Cen
trail and Norfolk and Western show
ing substantial gains. Total sales
were approximately 100000 shares
The decline came with unexpected
suddenness around the end of the
that the buying power was showing
signs of exhaustion, suddenly thre%
tens Of thousands of shares into The
market, which was unable to abSo.f
them, except at material conces sions
The tape was SO far behind the
market that many stocks were sell
ing | to 3 points below prices ap
pearing upon the ticker before thu
hundreds Of customers, crOwding the
larger commission houses, realized
that the break had come. Many Of
them were panic~stricken and threw
stocks overheard in a mad scramble
to get out of the market at any
price. Meanwhile, hundreds Of sell
ing orders came over the brokers
wires from the principal cities o.
the country, throwing the marke
into state of wild confusion.
New York, Oct. 17.-[P-The floor
of the stock exchange was virtua
bedlam throughout the whole SEES
sion. Brokers shrieked themselve!
hoarse in their efforts to execute
orders thrust upon them. The sour
rying feet Of the messengers as they
raced from post to post and the con
slant jingling of hundreds of tele
phone bells added to the confusion.
The principal brokerage house:
presented scenes of intense excite
ment and suspense as customer:
tried frantically to get reports or
their, market orders. Several Of the
houses confessed inability to give 8
proper record of purchases and sales
until afte the market closed. Lunch
hours were again cancelled anc
meals ordered from neighboring res.
taurants. Instructions were issuet
to some houses to continue work un'
til the unprecedented volume of the
weeks transactions had been cleared
up.
Hudson, which established rec
ord top Of LOG ut the opening, broke
to 90 and then rallied to 96h for 6
net loss of re points. Net losses Of
3 to points also were registered by
Dupont, General Motors, u. s. Cast
Iron Pipe, Chrysler, Fisher Body
Dodge Bros, American Can, Wool.
worth and Sears Roebuck.