Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-30
Board of Governors Votes to
Give Brokers and Office
Stats a Rest.
MARKET TO BE OPENED
AT NOON TOMORROW
No Sessions Will Be Held Friday
and saturday-stock Prices
Rebound Swiftly.

BY the Associated Press
NEW YORK, october 30.-Governors
of the New York Stock Exchange and
the New York Curb Market voted
today to delay the opening tomorrow
until noon and to close the exchange
on Friday and Saturday. The exchange
will be open Monday, the day preceding
Election day.
The selling frenzy which has been
sweeping through the securities markets
of the world during the past week ap-
peared to have passed here TO-DAY, ano
prices on all leading exchanges raiileo
briskly. Scores of issues on the new
York stock Exchange were marked up
SS to nearly $50 a share, with early
afternoon prices generally holong Steaoy
around the days high levels. .-.
The governors in an official statement
said:
'"The volume of trading in the last
week has been so enormous thaC the
organizations of the Stock Exchange
houses have reached point OF COM
plete physical exhaustion. Most OF
these employees and those OF the sVocK
clearing corporations have been on al,
most continuous duty for days ana
nights past. and many OF them nave
been without sleep for 48 to 72. hours"
''The governors have felt under an
absolute necessity to recognize the pure
ly physical and mechanical condition
and to afford the overworked stad SUI
ficient time to recupreate and recover
their strength.
"The governors believe that the short
er hours and the two days OF holidays,
as arranged, will put the working
H0ndlf10n
and contribute materially to more
orderly and effective handling Of all the
trading centering on the exchange.
This line of procedure has been
adopted after consultation with and
approval by the so-called banking
group"
The announcement was made from
the Stock Exchange rostrum by Richard
Whitney, a vice president of the ex-
change, and was greeted with prolonged
cheers.
Total sales on the New York Stock
Exchange in the first two hours CT
trasted with 8,378,20 shares In the
same period yesterday.
At noon the Stock Exchange ticker
was running an hour behind the mar
ket, while the New York Curb ticker
was one and one-half hours late.
High-priced stocks, which were the
hardest hit in the recent reaction, LED
the rally. Allied Chemical, American
Telephone, Eastman Kodak, New Haven
and Delaware & Hudson ran up S2O
share or more, while Canadian Pacific,
Johns-Manville. Electric Auto, Llte'
American & Foreign Power and Nor
folk & Western were among the many
issues selling $40 to SIG share higher.
Prices at 1890.
United States Steel Common, which
broke to $l66.50 in yesterdays wild out
burst of selling and closed at .$173, sold
at S18650 a share shortly before noon.
Following are 1890 pm. quotations
and net changes OF some OF the active
issues:
United States Steel common, 18412,
up 1912; Radio, 4112, up 3; Anaconda
Copper, 9034, up 5a4; Chrysler, 33, off
j. Erie common, 504, up 54; General
Electric 234, up IL; Texas Gulf Sulphur
62l2, up 1872; Montgomery Ward,
59l2, up 5a4; American Telephone,
22512, up 2112 American & Foreign
Power, 6512, up 1912; Kennecott Cop
per 69l4, up 3l2, and American Smelt-
ing 80, off l; General Motors, 4414, up
Johns Manville, 121, up 6; Bethele-
hem Steel, 901a, up 61a National Cash
register, 8l12, up 5la; Woolworth. rs.
unchanged National Dairy Products.
ass, up SIS; Union Carbide, 85, up IL;
Canadian Pacific, 200H, up 9; Columbia
Gas, 7014, up z; American Can, 1247s,
up 47s Consolidated Gas, 9534, up 414;
Westinghouse Electric, 1861, up 1912:
New York Central, 1852, up 5; At
lantic Refining, 401&, up 5l2; Radio
Keith-Orp 1873, up 324; Hudson
Motors. 4712, up 212; Vanadium Steel
54, up 2; United Gas Improvement
31H, up 4H; Public Service of New
Jersey 1872. unchanged, and Baltimore
& Ohio, 1919, up 624.
Large Purchases Reported.
Investment trusts and trading cor
porations have been heavy buyers of
stock in the last two days, estimates
of these purchases ranging from $780,,
100000 to $500,000,000 These securi-
ties are purchased outright.
George F. Baker, jr., of the First
National Bank and Seward ProSser,
chairman of the Bankers Trust Co,
participated in the informal conference
of bankers at the Offices of j. P.
Morgan & Co this afternoon. No in
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