New Britain herald., 1929-10-30
days volume Of 9.212.S00 shares.
 Record on Curb

LdN NOIuHle or H,-I I-.bDV SnareS.
 Record on Curb
 On the curb exchange a new rec ord of 7,o9G,30O shares was estab lishcd.
 Although the volume of tradin; on the stock exchange exceeded any thing in the annals of it's 100 year or more, trading was orderly and tn, ticker was only an hour and 52 min utes late. Last Thursday if ran foul 1 hours and 30 minutes after the 3 D m. closing gong.
 The size of the blocks Of stock | indicated the class of traders anC 1 speCulators who had been hit by the selling hystoria. Blocks from 1O,. GOO to S0.000 shares were offered fol what they would bring. Under these ] ponderous masses efforts to support the market crumplcd and prices continued their downward career until the rally at the close which brought leading issues back to fl points after they had dropped 12 to 5S points in the collapse.
 Ono Failure Listed The market upheaval which has wiped out spectators by thousands and cut quoted prices nearly in half, wiping out approximately $25,O0O,- o00,O00 in quoted values has brought but one Wall street failure. Sus- pension of John J. Bell tG Company from tho Now NnrIr for failure to meet it's obligations was announced. This firm does not engage in a general brokerage husi- ness so its suspension brought no serious consequences.
 The group of bankers who have been cooperating in efforts to stabil- ize the market announced through their spokesman. Thomas w. La mont Of J. P. Morgan X Company that they would continue their eff forts.
 After meeting last night, Mir. Lamont said:
 T want to take occasion to explain again as heretofore that the banking group was organized to offer certain support in the market and to act as far as possible as somewhat of q stabilizing factor.
 Tt was not an attempt of the group to maintain prices. but to maintain free market fo" securities Tn good order. In other words, we aimed to correct the technical con- dltions which prevailed last Thurs day We have not been sellers of stock"
 Mir. Lamonts statement that the bankers had not been sellers of stock was designed to quiet rumors in Wall street that the bankers had been selling instead of supporting the market.
 John J. Raskob, democratic na- tional chairman and member of the finance committee Of General Motors said concerning the market situa- ton:
 Many of us have long felt great concern because of the inflated con- dition of the stock market during tn" past several months. Huge amounts of money have been loan ed in the call money market at most attractive ratns by people who or dinarily would have this money in vested in securities.
 Prices RidiCuIouSIy Low
 "The present decline has carried prices in many instances to levels ridiculously low, with the result that nearly all the standard railroad stocks are cheap and the industrial list is filled with stocks selling at real bargains.
 Prudent investors are now brvinr stocks in huge quantities and will profit handsomely when this hys- teria is over.
 The list is filled with bargains and ] and my friends are all buying stocks"
 Luther T.. Blake. president of the standard Statistics Company, pub fishers Of financial publications said;
 w" do not pretend 10 say that 'lla bottom has been reached. but tin" market for selected investment stocks i8 now in the buying zone and ih" investor heed not hesitate 10 buy stocks that show reasCnabIc in- come return at present prices and $ho" promise of maintaining their earning power over 6 period of years.
 ITO the spectator the only thing one can say is that many stocks are cheap if he has the ability to carry them.
 There is nothing in the picture that now indicates q major doprcs- sion in business"
 Booth optimist'
 Willis H. Booth. vice rrcsid.r4 of the Guaranty Trust Company. speak ing at the Merchants Association yoatrrdar said:
 "The general business situation in this country is just as sound as it ever was It would be going con- pietely beside inc mark 10 saq -N.t il will not bo affected by the present condition, But 1t is not outside the mark 10 say that fundamentally 1t !s as sound as it ever has bccn."
 Washington Hopeful
 Washington, Oct 30 Py-Omcial