The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1929-11-04
DELUCE OF SELLING
ORDERS NOT OFFSET
BY BUYING POWE|
Cities Service Opens at SAILS
a Gain Of A.37 From
thursdays Close
EXCHANGES CLOSE TUESDA'
Buying by Small Investors !
Oowned by Profit I Taking
Of Large Spectators

NCW AWh. NVt. 9.-(HSD-lT00luX
on the New York Stock Exchange re
turned to normal proportions today
but the market was called upon &
absorb a heavy amount Of selliu6
which carried prices Of scores OF lead{
Ing issues down IS to nearly $40
share. with final quotations generall}
around the low levels of the day. NJ
tai sales were 6.2O2, $50 shares.
The last minute rush Or tradin
delayed the printing OF final quota
ttons for about 20 to Is minutes afte|
the close. Final quotations ana ne
changes of some Of the leaders wer@
y. S. steel 1885,. off ga: Americal
Can l25. off l0a: American Tele{
phone 237. off 9a.: Chrysler 81, off n
Consolidated Gas 102h, off 7h: 0en1
eral Electric 235. off II: international
Telephone S6i.; off 0A; Eastman
Kodak lO3: off l5la; Pennsylvani3
railroad 90s.. off 3as: Sears Roebuc1
lO9A. off III; Westinghouse Electro
LAG off l4i4.
General Motors 45A. of 2x{
American and Foreign Power 70. 81
12as.
Shorten Trade Sessions
The New York stock exchange an{
nounced that trading sessions q
wednesday. Thursday and Friday %
this week will be shortened from fiy@
to three hours. the hours Of busiuesl
being from 70 q. N. to ! p. m. or|
those dates and that the exchangd
would be closed all day SATURDAY.
Trading will be conducted for the full
five-hour session today but the ex1
change will be closed tomorrow, elec-
ton day, q legal holiday. Similar acl
ton was taken by the New York curb
market.
No official explanation accom- !
panied the latest shortening or stock
exchange trading. but it was generally
assumed 1t was for the same reasons
which applied the closing last week.
namely to relieve the pressure on
brokerage houses and give them OPP
portunity to catch up with the vast
accumulation Of work.
To Start Work Early
Governors Of the New York stock
exchange ruled that specialists must
have an authorized representative on
the floor not later than 8:45 .. m. on
Wednesday, Thursday and Friday.
Telephone clerks also were asked ia
be on duty ut that time.
Wall street was inclined 10 place =
bearish Interpretation upon thu
quoted remarks Of Secretary Of Com-
merce Lamont. who stated that willis
business conditions were sound ana
that no fundamental change In them
may be expected, the reaction IA
stocks was likely to have 1t least q
psychological effect on business. and
probably would be felt In the sales oe
the luxury class of merchandise.
The New York curb market fol~
lowed the action Of the big board
and announced that It would operate
on the same schedule for the rcmain-
der Of the week. Tuesday election
day, is q holiday here and the ex.
changes will be closed.
Early liquidation was attributed. IN
part. to the discovery Of many addi-
tional impaired margin accounts.
which had been overlooked In the
wild trading Of last week. Although
a flood Of buying orders from small
investors poured into the market over
the weekend, these were more than
offset by the huge Offering Of large
spectators who apparently rushed to
take profits after the sharp recovery
which followed last Tuesdays break.