Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-04-20
1,75Q,0DO SHARES
SOLD IN HALF HOUR
Pre-Depression Volume of
Trading 0verWheIms Ex-
change Facilities.
COTTON ADVANCES $3.50
Silver Gains 2 to 3 Cents-Com.
modify Markets Soar in Biggest
Opening in Two Years.
BY the Associated Press

By the Associated Press.
A fresh frenzy of buying added
billions to quoted values of stocks
and commodities in today's mar
kets.
The dollar again dropped sharp
ly in relation to other currencies,
in response to the official an
noucement that it was cut free
from gold.
AS this in theory reduced its
purchasing power, prices in the
New York Stock Exchange, the
Chicago Board of Trade and other
principal markets, were swept up
ward.
Stocks were swept upward from 81 to
SO share in one of the most hectic
sessions of the New York Exchange.
Trading facilities were overwhelmed,
and the ticker fell half an hour in ar
rears
Highest-grade bonds, including United
States Government issues, again weak
ened, as investors sought to convert
their funds into speculative vehicles
such as stocks and commodities.
Metal prices scared. Copper was
quoted at cents a pound. up 81 of a
cent from yesterday. Silver futures
jumped about 2 to cents, on top of
! yesterdays gains of around 8. Steel
scrap prices advanced $3.50 q ton at
Chicago.
Cotton Gains $3.50.
Wheat jumped about 3 cents a bushel.
and cotton about $3.50 a bale. Wool
top futures at New York shot up 10
cents pound, the extreme advance
permitted for one day by trading rules.
Crude rubber, raw hides, silk coffee,
coca, oats. corn, barley. lard and many
other staples pushed ahead in the move
ment which retraced a minor fraction
OF the losses Of the past three years.
Pront-taking appeared in the mar
kets from time to time, tending to re-
duce the advances, but setbacks gen.
orally attracted fresh buying.
transactions to noon totaled 1870, 900
shares, against 1000, 900 on Wednesday.
This was the heaviest volume for a
morning since Saturday. May 3, 1890,
when 4,867 500 shares were traded The
last price on that day was recorded by
the tspe at l:56 pm.
Heaviest Since November Is. 1929.
A million and three-quarter shares
changed hands in the first half hour
the heaviest volume for that period since
November 10, 1929, the day the Rookie
Teller interests placed their sensational
order Of $50 share for / ,0OO, 900 shares
OF Standard Oil of New Jersey.
Reacting now and then under profit
taxing, the market zoomed along at a
terrific clip. United States Steel COM
mon at one time was selling at s445o,
up $3.50. Corn Products Refining
jumped 1852 at the opening to price
of STA, while scores Of issues, particu-
larly metals, jumped 81 to 81.
Customers rooms of brokerage houses
were damned. while the trading pits of
scenes of high-pitched excitement as
traders sought to execute orders
Meanwhile, the dollar, officially of
the gold standard, at least for purposes
of international trade, was subject to
violent fluctuations in the foreign ex-
change market. Sterling jumped 20
cents to the pound, while the gold cur
rencies of Holland. Switzerland and
Belgium advanced broadly
Speculative bonds joined the rise Of
stocks and commodities, but gilt-edge
loans again slumped.
Brokers Bewildered.
Wall Street brokerage houses, bewil
dered by the sudden and huge increase
in commissions, were largely unpre-
pared for the swift rush to turn cash
into equities" and commodities. A few
days ago the stock market was merely
loafing along Today and yesterday
order clerks, floor traders and CUSTOM
ers' men could not keep ahead Of the
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