Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1928-11-18
SIOCK DEMAND
HOLDS HEAVY
saturday Trading Is
Near Record; Prices
Advance Fast

NEW YORK, Nov. 17.-P-Spec-
ulation on the New York stock ex-
snsnge continued It a dizzy pace
socay but the price movement lost
Muen OF the violence which charac-
.eil.ed the preceding sessions this
~eek. although a number Of shares
were whirled upward So to $40 a
snare to new high records, there
was heavy profit taking throughout
the general list with the result that
we Associated Press averages of 20
reading industrial and 90 leading
fallroad issues lost ground.
ictai sales for the two hour ses-
non were $685. 900 shares. or slight
~ below the Saturday record Of 3 :
1v1,OO0 shares established 4 week
AVG. The ticker was / hour ard
= minutes late in recording tbs fl
nal transaction.
Trading on tho New York curb
market set a new Saturday record
with a turnover Of 1.2i0,lO0 shares
as against the previous record Of
i.uet,OO0 shares last week. The curb
ticker was 40 minutes late.
Conservative estimates place the
increase in the quoted value of all
listed stocks this week between ST.
vvu9fO,000 and sI.500.0 coo goo. The
4 si4slge of 20 leading industrials,
Efled by the Associated Press,
as@hdvanced nearly Sl2.25 n share
this week while the average Of 20
reading rails has declined nearly
sl.50 although several individual
Arailroad stocks have established a
anew record high level.
Montgomery-Ward again was the
1tensational performer in today's
Sfmarket. soaring $40 n share to n new
high record at 1924. or $3i7 above
the low price Of last January. May
Department Stores. National Rellas
Hess, julius Kayser and Spiegel
May Stern also moved into new
high ground but Sears-Roebuck lost
nearly 81 n share. The demand for
these mail order and merchandise
ing issues was stimulated by the an
nouncement that Christmas Savings
clubs would distribute s550.000. 400
In the next few weeks. and BY Ar
thur W. Cutten's optimistic forecast
OF Montgomery-Ward's business. Mr..
Cutten'S paper profit in Montgom-
ery-Ward stock alone has been esti-
mated in excess OF 100000 in the
last two wears.
Radio Corporation common moved
IN an eccentric manner. opening at
$500 a share. advancing slightly
above that figure. breaking 20 1923.
rallying TO n new high record ut
1904 and then Slipping back 70
1901 80. Among the many other
stocks TO set new neak prices were
Anaconda Copper, Bethlehem Steel.
Packard Motors. international Har-
vester, Northern Pacific. Phillips
Petroleum and Commonwealth Pow
er. but not all the gains were main
tanned. u. S. Steel common. Cen
eral Motors. Western Union. Cur
tiss Aeroplane. Allied Chemical. Chi
cago Pneumatic Tool. and Greene
Cananea Copper were in the LONG
list Of issues to lose ground. the
losses ranging from a few cents to
IS n share.
The following table illustrates the
record-breaking t~raD~actions Of the
ppast week:
= Monday--5.67O.600 shares.
Tuesday .3S7.I00 shares.
Wednesday-5.426 500 shares.
Thursday-4.747.700 shares.
Friday-6,714.400 shares.
Saturdav-3.i6s.4 400 shares.
Total-31, 1880 shares.
Bank stocks. which are largely
dealt in "over the counter" have
advanced SIS to $3.50 a share dur
ing the past week. Stock Of the
First National Bank. which Is head
cd BY the veteran firancier George
r. Baker. was quoted today a.
s4,525 to sI.575 a share. a rain o.
about $3.50. American Exchange
Irving Trust stock advanced $40 to-
day for a net gain this week OF
$40. the big price being $500 q
share. National City Bank stock
has advanced $50 this week, being
quoted at 1855 to 1915.