Evening star., 1928-03-24
BROKERS REQUEST
THREE-DAYS' REST
Hectic Two Weeks Have Put
Traders and Staff on
Verge of Breakdown.

By the Associated Press.
NEW YORK, March 24.-Battered
and nerve-wracked by the unprecedent-
ed markets of the past two weeks. men,
bers of the New York Stock Exchange
have petitioned for three-day holi-
day starting On Good Friday, April 6.
Although the last l3 days have seen
a golden stream of commissions fow-
ing into their pockets. many of the
big traders and their assistants and
clerks have almost reached the limit
Of human endurance The work IS so
specialized that intelligent extra help
is hard TO get and the regular Office
forces have been forced TO carry the
burden Of the extra work
Many Stay I'm Hotels.
With the close of the five hour ses-
sion OF the exchange. during which
trader is pushed and mauled by other
eager buyers and sellers. he cannot put
on his hat and call il a days work
He must patch up his torn clothes,
grab something TO eat and direct his
corps Of assistants I'm the work Of tabu-
lating and recording the days transac-
tons. which work extends far into the
night
Many of the big firms have provided
sleeping quarters near their Offices and
nearly all those who commute--em-
ployer and employe alike-~haye been
forced 10 live al hotels during the last
two weeks 50 as not 10 lose the precious
hours that would be wasted In travelling
back and forth 10 their homes
Work Well Repaid.
The work has been well repaid, how
ever. assuming that one-fourth OF the
business was by traders buying for
their own accounts and therefore pay
ing no commissions. Observers esti-
mate that for each Of the i3 days the
commissions were more than $4,000
This would mean an average Of $3.50
a day for each Of the LOO seat hold
eYs, but II Is pointed out that half
of the members never 90 on the floor
os the exchange. merely holding their
seats 10 get lower commissions, and
this would send the average for the
active traders 10 twice that figure.
The price 81 seats has doubled IN the
last year, as early in 1927 Stock Ex-
change seat could be had for si70.g00.
The latest figure paid Was an advance
Of 5000 over the previous record high
paid last Wednesday.
All Records Broken.
The volume of trading has also
broken all previous records During the
lass hectic l3 days "a, ,9G4 ,a05 shares
have changed hands. Since 1892, when
the exchange was formed, there have
been only ~ trading days in which the
| total sales were over the 5000 900 mark
and exactly half ot those have been IN
the past two weeks, with the two short
! days u trading on Saturday seeing
totals over 1000 900
A eautlonary note has been sounded
/ by a number 0f big firms. warning
/ their customers that the market had
/ been going TOO fast, that ihe rise hsd
1 been to0 perpendicular and that re-
( action might be expected ST any time
/ The Street. however, remembers that
! these same houses sounded the same
/ note Ot warning month ego. and that
] the condition is the same as 81 the start
/ u the a,000000 share markets 1T 4
! "auybOdy's guess" Familiar yardsticka
| and bsromeieTs hsge proved yalueiess
/ IN trying To measure the width, breadth
| and length III the market these days,