Show TocK STOCK EXCHANGE SETS Up NEW AA RECORD A IN WILD OUTBURST A OF BUYING ORDERS ORDERS' New Ticker System to Spee Up Q Quotations Causes Confusion Success of Plan Is in Doubt Both Rails and Industrials Close With Higher Averages Averages- Heavy Profit Taking and Bear Be Selling at the Close Cause Some Irregularity Among Recent Reent Speculative Favorites NEW EW YORK Dec 3 AP AP AP-Al AP All Saturday trading records on on n the New Kew York stock exchange were broken today when nearly shares changed hands In n a wild wid outburst of ot bullish enthusiasm which carried cried scores of issues up 1 to nearly 9 points point Some irregularity developed at the close when heavy taking profit profit and bear ber selling developed In a. a afew few recent speculative favorites s. s but both the rail rai and industrial averages averages averages aver aver- ages closed higher on the day Considerable confusion was create created cre cre- ate by the introduction of ot the new quotation recording system in the late hour when only the final numbers numbers numbers num num- bers of ot prices were printed in an effort to speed up the ticker Because Because Because Be Be- cause of ot the tremendous volume of trading and ad the novelty of ot the ex experiment exl ex- ex l the success of ot the plan was somewhat in doubt The ticker was twenty-eight twenty minutes late in recording the final quotation quotation quota quota- tion ton but officials of ot the exchange expressed the the- belief belet that a further futher delay of ot eight or ten minutes would have been likely if i the old plan of ot quoting the prices in full ful hid had had been used throughout the morning Price movements in the stock market bore little relation to the days day's news developments development although of five In a a drop ot about bout ve points Canadian Pacific presumably wason wason was wason on selling Inspired by official de- de nials of f a segregation and distribution distribution tion ton of ad assets S. S II I. I Kress advanced nearly five points despite despie denials of ot a n contemplated merger with wih or any other chain store concern Recommendation tion ton of ot a two for one of ofF F F. W. W Grand Stores stock with witha viha a proposed dividend of ot 1 a share on the new stock featured the days day's dividend announcements Railroad shares were again in the forefront of the advance despite despie the I poor traffic and earnings statements statements state state- I ments now being published The demand centered largely in the is issues issues is is- issues sues of ot proved investment merit leading to the belief belet that substantial tal portion porton of ot the months month's half half- halt halt- dollar billion dolar bUlon-dolar dividend and Interest disbursements was finding its way into the securities markets Delaware Hudson soared more than six siz points to In 8 2 1 and then slipped back to Atchison At Atlantic Atlantic At- At lantic Coast Coat Line Baltimore Ohio Soo preferred St. St Louis Southwestern Wabash and the tho Western Vestern Pacific Issues all al showed pet gains of ot one and one half one hat to three points Northern Pacific crossed to a new peak New peak prices for tor the year or longer were ere recorded in the Industrial industrial industrial indus Indus- ere trial group by American Agricultural Agricultural tural Chemical al preferred Coty Congress Cigar Nash Motors Nevada Nevada Nevada Ne Ne- vada vada Copper United States Smelting Smelting Smelt Smelt- ing leg and several oth others rs Greene Cananea Canane Copper was run up more Jore I than five points to a n new record I high sit at t iii lG and then broke to Selling pressure was particularly effective ag against Dvoe Reynolds General Railway Signal Kelly Kelly- KelY- KelY Springfield 6 G per cent preferred and Worthington Pump B Foreign exchanges held fairly faly steady in quiet trading with wih de demand demand demend de- de mand mend st sterling quoted around 47 11 1 The weekly clearing cearing house statement state slate ment showed a deficit in reserve of ot as compared a deficit of a week ago 00 Aggregate reserve totaled I Th The detailed statement of actual conditions this day showed Increases in most of ot the principal items Loans discounts and in investments investments in- in vestments gained re reserve reserve reserve re- re serve in the federal reserve bank of ot member banks and net ne demand deposits Cashin Cash Cashin in own vaults dropped and time deposits A. A |