New Britain herald., 1929-10-25
TOMORROW-A Bird and an Egg Which Sold for 275O

The bankers asserted that al though there might have been considerable volume of distress sell ing before noon, the vigorous rally in the later hours of the session had carried many stocks well above their lows for the day. They saw little ground for a prolonged state of un- eaSineSs.
 No Predictions Issued
 They declined to make any pre- dictons concerning the trend of the market during the next few days,
 You know as well as we do what the stock market will do," they said, there was a long upward period and now the trend is down. ward. That is all. The situation that developed Thursday, hoWeve~. was due largely to technical Conditions of trading. Big airholes appeared in the list"
 By lair holes" MT. Lamont eX- plained he meant all buying inter- est had momentarily disappeared and the spread between previous sales and what would be paid was several points.
 The collapse on the stock eX- change carried the curb exchange along with it, 6,337400 shares changing hands during the curb session with prices breaking from 10 to 75 points. Markets in other cen ters also were affected. The smash was communicated to the commod- ity markets, driving down wheat and other grains. There also were reper cussions in European markets. 1 Opening steady The market opened steady on the | stock exchange but with stocks of 1 fered, in ominous volume. Blocks of l 10000 shares of kennecot Copper, ] 20O0O shares of General Motors ! 15, GOO Sinclair Oil with a long list ! of 5000 share blocks of leading stocks started the downward pres sure.
 l Within an hour the market was in full rout. Spectators, big and 1 little threw their holdings overbard ] for what they would bring, thou sands of accounts were wiped out and paper losses climbed into the bil- lions.
 A fight to keep United States Steel, the barometer of the market, above 200 failed and it fell with the market to 194 1-2.
 The floor of the exchange was a mass of screaming dishevelled men as operators shouted their hoarse offers and waited several minutes for takers while their stocks dropped still lower. Several brokers collap- sed and had to be helped from the floor. The din was audible for blocks along Wall street.
 Offer Stems Tide
 Then came the statement from the bankers conference. News of this had hardly reached the floor until those milling about the steel post were electrified by an offer tC buy 25,00O shares of United StecI at 205.
 The order was placed In the hands of Richard Whitney or Rich ard Whitney &; Company, a brother of George Whitney, a partner in the banking firm of J. P. Morgan & Co Mir. Richard Whitney is known 1T the street as Morgan broker"
 That marked the turning poin and the rally was soon in full swing . But the confusion continued unabat ed. Brokers began buying withou knowing the price of their stocks for the ticker was hours behind The rally carried many stocks up
 to 30 points and some at the clos of the day showed gains. Steel ha( 2 a net gain of 2. Net losses of 10 O more points were many, however.
 Wall streets biggest day attracte, thousands to the narrow little thor oughfare. They milled about the en trance 10 the exchange and crowd ed the steps of the sub -treasur, across the street.
 , Staffs of brokers clerks lahore, } over their ledgers at night bringin : order out of the chaos wrought b the stupendous volume of business