Evening star., 1933-07-22
EXCHANGES
WILL OPEN At NOON
BEGINNING monday
Action Taken by Board Be.
cause of Heavy Volume
in Trading.
CLOSING ON SATURDAY
WILL BE CONSIDERED
Market Closes 81 to s. Higher in
Record Trading for Sat-
urday Session.
By the Associated Press.

By the Associated Press.
NEW YORK, July 22.-Stocks closed
with q rally today after two strenuous
hours in which fluctuations, though ex-
tremely erratic, were much narrower
than those of yesterday.
Final prices were mostly above yes
terday's close and shares that showed
net losses were well above their lows
Of mid-morning setback. The market
had number Of 81 to So advances.
Rallying at the opening, prices slump
ed later when fresh waves Of liquida-
ton from impaired margin accounts
rolled on to the Stock Exchange, but
supporting orders caught the leaders
and quotations stiffened in the final
quarter hour.
Many Late Gains.
United Aircraft closed at $50 $50. I'm
so cents: Continental Can. S58.25. no
81; du Pont, $3.50, up $l.50; Interna-
tional Telephone. $13. up rs cents:
Crown Cork & Seal, $39. up SO cents:
Consolidated Gas, $5l, Of 81: Canada
Dry Ginger Ale. $24, up So; Southern
Pacinc, $2487, unchanged; General
Motors, $25.62, up 81; United States
SteeI. $52.25, on Is cents; Chrysler.
$27.62. of 81 cents; American Teie,
phone, 1880, of SO cents; New York
Central, $39-25, up 81 cents; American
sugar, $50. up So; Union Carbide, 80.
up So.
Sears, Roebuck $3.50, up So cents.
General Foods $3.50, of SO cents:
MsonIgomery,Ward $2o.75. up 81 cents:
american Tobacco B" $80.25. on $50;
OnHed states Industrial Alcohol 81. so.
up 30 cents; National Distillers $68, up
81; Standard Brands $23.87. ,up 81:
North American $25.75. up so cents:
Celanese $26.50, up 81 81; western Union
$56, up 81: Baltimore & Ohio S25 rs
up $1.37.
The exchange estimated the days
transactions at 4,2zO, 900 shares. Trans
actions were the largest for q Saturday
since May ~. when 4,311,340 shares
changed hands.
Cotton closed at gains ranging from
Is to 70 cents q bale, after having
shown earlier losses Of more than g
q bale.
Wm open q Noon.
The New York Stock EXCHANGE an.
nounced today that beginning Monday
1t would open at noon until further
notice.
The exchange decided to open today.
An announcement BY the Board Of
Governors, made half an hour before
opening time this morning, said:
due to the sustained pressure un-
der which members and employees Of
their firms and of the Stock Clearing
Corporation have been working for .
considerable time, and particularly in
the past few days. the Governing Com
mittee Of the New York Stock Ex-
change, by resolution this morning. has
determined that beginning with Mon
day, July "a, and until further notice.
the exchange win open at IL noon in
days, and, furthermore, the Governing
Committee will determine next week,
provided the present great activity con-
tinues, whether or not the exchange
viii be closed next Saturday"
The New York Curb Exchange de-
cided on the same restricted schedule.
The exchanges made similar operat-
ing limitations during the huge mar.
kets Of 1929.
Enormous volumes Of the past three
days have imposed q crushing burden
on the bookkeeping requirements of
commission houses and have worn
down the. physical endurance OF
brokerage employees. Many of them
have worked long stretches Of overtime
In an effort to clean up the tremendous
business done Wednesday, Thursday
and Friday.
Speculation May Be Pro6ed.
Ferdinand Pecora, counsel for the
Senate Banking and Currency Commit
tee, said today he planned to confer
Monday with officers of the New York
Stock Exchange regarding present stock
speculation.
The brief statement issued from his
ofnce did not amplify on the reason
for the meeting, other than that Il
was "in view Of the prevailing sttua-
tion on the New York Stock Exchange
and the various exchanges throughout
the country"
Pecora has been conducting the hear
ing Of the Banking and Currency Sub.
committee into private banking AM
the stock market.