Evening star., 1948-03-31
Struck Stock Market
IWeathers First Test
Of Big Buying Wave
BY the Assoeiofed Press

NEW YORK, Mar. 3l.-Nev
York's Stock and Curb Exchanges
hampered by strike. appeared tc
be surviving their first big test with
emergency workers today as buying
orders flooded in and prices rose.
At noon, around $4,000 shares
had been traded in a rising market
The shouts of traders on the
stock exchange floor were louder
than the chant Of the pickets that
shufhed along in front of the build.
ing,
The third day Of the strike OF
AFL United Financial Workers
brought the first real volume Of
business.
The action was so fast that 5S0, ,00t
shares changed hands in the first
hour on the Stock Exchange and the
quotation ticker tape fell behind
floor transactions for brief periods
In the first hour yesterday the vol
ume was 100000.
Many Shares up 81 or More.
| Prices of many leading shares
were up 81 and more as the demand
grew heavy for stocks which might
benefit from heavy defense expendi-
lures.
United States Steel was ahead al
most 81 at "a, Santa Fe Railroad was
up more than 81 at 1905, Texas Co
advanced so cents to 81 and Ameri-
can Smelling and Refining went
ahead 81 to 571a.
Volume on the Stock Exchange ir
the first hour was more than double
yesterdays. On the curb 10000
shares were traded in the first hour
compared with 10000 yesterday.
Members of the striking AFI
Financial Employees Union and o1
the AFL seamen's unions, who
Joined them on the picket line, were
on hand long before the 10 am
opening hour.
i Pickets Are Noisy.
The same three pickets who stood
before the exchanges main en-
trance at II Wall street when the
battling began yesterday walked in
tight circle in front of the door
way today.
Six police officers stood a few feet
away.
The 1000 to 1900 pickets were
noisy but orderly as they marched
back and forth in adjacent areas.
AS workers began to arrive, boos
from the picket line grew louder
In several instances men going into
the Stock Exchange stopped to
argue and they were quickly mo-
toned inside by policemen. When
one man showed signs of prolong-
ing an argument, he was quickly
surrounded by five uniformed
officers, who escorted him inside
quietly.
There were about 200 police on
duty In the area. The officers stood
about a foot apart at the apex of
Wall and New streets. Along the
remainder OF the block there was a
policeman about every 10 feet.
Emil Schram, president of the
stock exchange, walked into the en-
trance at $3.50 am He did not
glance at the picket line
M. David Keefe. president Of the
United Financial Employees. said he
had sent a telegram to Senator Taft
at Washington urging him to come
to New York and "see for yourseli
what happens when an honest union
votes Overwhelmingly for the union
shop and management .ahsolutely
turns thumbs down. -
He told the co-spo1sor Of the
Taft t-Hartley Act his group entered
into. union shop election in the
New York Stock and Curb Ex-
charges in-eonplia aes- with provi-
sions of that law. He added 81. "pe1
cent of the stock exchange employees
voted for the union shop and "a pei
cent of the Curb workers.
Management of both exchanges
have refused even to discuss this
point" he wired