Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-25
Market Opens With Advance
and Buying Orders Increase
as Nervous Traders Con.
tinue to Unload.
BROKERS ARE CONFIDENT
OF PRESENT PRICE LEVEL
Opinion Prevails That Values Will
Not Go Much Lower Before Sub.
stantial Recovery Sets In-Trade
Leaders Optimistic.
By the Associated Press.

By the Associated Press.
NEW YORK, October 25.-Pow-
erful efforts were made to stabilize
the stock market today, after yes
terday's close approach to utter
panic. A broad advance during
the early transactions, however,
was held with difficulty, as oper-
ators for the advance we're called
upon to absorb large offerings
toward midday. The early gains
were generally reduced, and sew
eral were lost.
The market opened rather calmly,
with leading issues advancing So or so,
and few stocks shooting up from $40
to $40. The pace of trading became
increasingly feverish as the morning
wore on, however. and huge buying or
ders were hurled into the market to abb
sorb further nervous selling. Before
midday the stock exchange ticker quo
tations were three-quarters of an hour
behind floor transactions, and consider
able confusion developed. The curb ex-
change ticker was also overwhelmed,
and fell far behind trading. Never
thelesS, nothing like yesterdays wholly
disorganised trading developed during
the forenoon.
Ticker Again Late.
Brokers remained generally confident
during the morning that the price level
f0 "A
sure. 1t was believed that banking in.
terests would make no effort to bring
about general rally in prices until
the market quiets down considerably.
merely contenting themselves with sup
porting the market near the present
levels.
Support orders thrown into the mar
ket near midday appeared to check the
moderate decline and. save in q few
isolated instances, losses were limited to
25 cents to 81 a share.
Four hundred extra patrolmen, 100
detectives and large detail of mounted
men were sent into the Wall Street
district today to aid the so patrolmen
and so detectives of the regular detail
in maintaining order.
Although all was quiet this morning
Police Commissioner Grover A. Whalen
said he would take no chances.
E1C aISO WdIleO OTOkSTS 10 De par
ticularly careful about entrusting bonds
and securities to runners unless they
were sure of their reliability. He said
there was danger that bond thieves.
taking advantage of the situation. would
attempt coup in the district.
Known criminals are never allowed
beyond certain deadline drawn around
the financial section.
Trading Pace Ouickens.
Total sales during the first two hours
Of trading were 3,310,100 shares, as
compared to 5,71l 200 during the same
interval yesterday.
As the session wore on, however, the
pace of trading began to catch up with
yesterdays terrific rush. At 1915 the
ticker quotations were So minutes be-
hind the floor transactions while at the
same time yesterday they we're SO min
utes behind
Floor trades. however. had managed
to adjust themselves somewhat to the
huge turnover, and there was noticeably
less noise and confusion on the floor
Commission houses reported that
there was much profit taking by traders
who jumped into the market when it
turned sharply upward late in yester-
days session. Traders who were able
to buy around yesterdays bottom levels
had profits of $40 share and more
in many stocks.
Furthermore. many holders of stocks
who failed to sell during the frightened
rush OF liquidation yesterday and late
the previous day. had suffered from
severe nervous strain and welcomed the
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