The Washington times., 1928-12-01
Stocks HIGHER.
IN WEEKS
TRADING
BY w. S. COUSINS

NEW YORK, Dec. j (l.N.S.l.--
Cleared UP to its highest capacity, the
bull market in industrial stocks rolled
irresistibly forward this week.
Throwing caution to the winds.
stock traders and spectators from
all sections of the country rushed
into the New York market to buy
the sky-rocketing favorites which
have electrified the big financial
district by the ability to perform
like shooting stars. With but little
momentum, the high-priced rich
mems" stocks zis-zagged sensa-
tionally with each resting place
higher than the last The big pro-
fessionals and pools which are
running the market piled in
sheafs of buying orders. and stocks
ballooned 10, IS. so points day,
and in some cases 100 points or
more in the week.
Curb Stocks Soar.
Spectacular price climbs were not
confined to the stock exchange.
The curb market, sometimes called
the s'little board" but in the last
few months having smartly out
grown that title, offered as its
contribution to the weeks sensa-
tfon flying. leaps of 80 to SO points
in the speculative favorites and
daily turnover OF 5000 shares of
stock. Al year or two ago 100000
shares would have been considered
d big day on the curb, and the
Wednesday turnover of one stock,
Canadian Marconi. 100000 shares,
was equivalent to q moderate days
business on the whole board.
In the outside, or unlisted mar
ket, sensational trading In bank
stocks sent prices OF the strong
and conservative New York City
Bank shares, skyrocketing all the
way from so to 120 points in
single session. National City Banks
new nlelon.cutting, the increase of
the cash dividend Of two important
banks and the swallowing of the
Garfield Bank by the Chase,
brought y host OF speculative buy
ing to bank stocks
Neither the Saturday closing nor
the closing of all markets on
Thanksgiving Day placed any OBJ
Htruction whatever in the path of
the swiftly moving stock market.
= 0ItAAlS 4OAt sOLz5tHCs SHultcTS pGE1l1Is
ted one more day for the accumuIa-
ton Of a. huge volume OF buying
orders for speculative stocks of all
kinds. and when the doors opened.
facilities Of the exchange were fairly
ssEsped.
Radio textures
Radios new jump to s400 share
was the feature OF the week on the
big board, but score or more OF
the high-priced speculative favor
ties, like Montgomery Ward. Sears
Roebuck, Victor Talking Machine
Dupont. Union Carbide, added from
10 to SO points to their market
values during the week. Public
utility stocks forged to the front
near the weekend, with New York
City gas stocks jumping wildly
under the spur Of enormous buving
demand, based on rumors OF a
probable merger Of the city gas
and lighting properties OF the Con-
Edison Company, Brooklyn Union
Gas Company, and other powerful
concerns.
The big board this week pre.
scented a picture OF market run
Wild. Under the whip and spur of
the powerful professionals. trading
favorftes. were boosted to the Iofti.
est heights of the year. Brokers
On the floor OF the exchange fought
and gesticulated in an effort to keep
open the avenues of the heaviest
world stock trading the coun-
try has even known. Though the
market is geared up to a 5000 900.
snare daily pace, the Stock Ex-
change governors are firmly con.
WINGED that the 10 ,00O, ,000-share day
II not far Off and are already max
ing preparations to that end. Tn
they go and the sky is the limit:
that ie the Wall Street idea in many
parts of the big speculative dis
trtct. while bankers and business
leaders preach conservatism.