Show O P CURB TRADE GROWTH SETS SETS- 1 PRICE SAND AND VOLUME RECORD I NEW YORK TORK Dec 31 AP AP-A AP A profusion of new highs high records In 1927 testified to the tle growth of or t the e New York curb market as a mart for securities Accompanied by y the heaviest volume of trading In curb history stock and and bond prices ad advanced advanced ad- ad steadily many of the stocks doubling or ev even n trebling their market values Oc Occasional reactions occurred but reached only nominal proportions In the main groups of related stocks moved as as units cosely closely f fol following J- J lowing lowin the tte trend of the stock ex ex- ex- ex change Petroleum Petroleum issues issues Were ere hesitant hesi hesi- tant ant for a 8 long p period during the stage of overproduction df f cr crude de oil oilin oilin oi in the Seminole field but in early autumn buying Increased and the highest levels leves of the year were wee wele reached Good God earnings by public utility companies were reflected by rising prices prIce of ot such stocks and merchandising Issues were I sive to satisfactory retail trad trade Most of the motors fol followed ed an irregular trend trend reflecting unc uncertainty r- r over new nes ne models and recurrent recurrent recur recur- recurrent rent rumors rumors rumors' of price wars ivars which failed to materialize Ford of Canada Canada Can Can- ada ranged from to 72 Demand Demand De De- mand mend for heavy machinery farm tan Implement and mining minin shares continued continued con con- fairly brisk from month to month NEW ISSUES ADMITTED With admission to trad trading n totalIng total total- Ing about issues a great amount of o research work research work was n necessary cesary and the personnel of the co committee commit commit- n i- i tee on listings was increased from from five to ten About one half the new bonds floated in 1927 made their initial appearance on the curb list 1st To facilitate trading In American securities by foreign invest Investors rs the board of governors amended the constitution to admit admi foreign brokers brok brok- brokers I ers Pra anti and bankers to associate mem mem- memI I A number number of European brokers and bankers quickly took tok advantage e of the facilities offered While trading on the floor foor is re restricted restricted restricted re- re to regular members associates associates' associates associates' asso asso- dates dates' privileges Include among other considerations material r re re- re In commissions A further bid for international business was the promulgation aton of two sets of requirements one for listed and the other for unlisted privileges b by tightening the rules rles to equal the foreign foreIn requirements of the stock exchange and providing for rap rapid transfer facilities through h th the Guaranty Trust company Unlisted Un Un- listed foreign stocks must be from countries on a gold basis MARKET INTERNATIONAL Colu Columbia comp company n Ltd an English company compan was was was' the first stock admitted under the new r rules rues les Previously the the curb had listed mor ethan foreign stocks and bonds A good deal of foreign financing Is s said Id to to be In the makIng making mak mak- ing for the next few years and th the new rules rles are are expected not only to facilitate arbitrage in issues listed here and abroad but to open up n a channel for foreign investors investorS who desire to td turn to New Y York with part of their surplus funds The curbs curb's ticker ticker service service was wa ex extended ex- ex tended in 1927 to ten cities cites includIng in ing Atlantic City Hartford Hartford New Haven Providence Albany Tro Troy Rochester Schenectady Syracuse and Montreal the last named makIng making mak- mak mak mak- ing wih with Toronto two to two Canadian cities cItes served cities served by curb tickers lickers Negotiations Ne Ne- are under under way to extend the service e to cities cies west of ot the Mis Mis- The years year's ear s additions brou brought ht the number of machines in operation to more than 1000 The clearing house of the curb market also alo enjoyed a successful year The number of Issues cleared totaled compared with wih in 1026 1926 Twenty five TwentY leading banks in the East Est now accept guarantees of curb market members in T stocks which pass through the clearing cearing house |