Show UNITS OF BOND 1 TRADING REDUCED Governors of N. N Y Stock Exchange Exchange A Amend end Constitution Con Con- I I Furnished by Harold R. R Sm Smoot ot Co NEW YORK June 23 Governors Governors pf of pf- pf the stock exchange at their meeting yesterday yes jes- jesI es I I amended the constitution so th thit t the unit of trading in bonds bonds- shall hatt be I I 1000 instead of as heretofore I INo INo No explanation of the change was forth- forth coming No No announcement was made by y i ithe Ithe the governors in their meeting with re respect respect re- re to r recent cent rumors of an tion of all alleged ged bear raids in the stock market martet during the last few weeks Just J before the close yesterday the story was wa circulated all through the street t that th thI the governors would after its meeting ni make e. e I a statement on the market which would be of a c constructive ch character r and nd bf of considerable importance When their session lasted well towards 5 6 o'clock the impression was given that something of Importance was under discussion because it is rarely that their meetings last so I long No announcement was made at the i close of the meeting however other than than that of the change in unit trading in In bond market Herald i iI i News from steel centers seem to be I read for the first time by the type trpe of f Investors who begin to get curious aft after r rI I their holdings have depreciated to an alarming extent Yesterday there was i q quite a line of liquidation in the tock Mock declining to a new new low r record cord The Th motor stocks were very heavy with Chandler down to 52 Pierce Arrow preferred preferred pre pre- pre pre- erred was off 5 points and Studebaker down to 71 We Ve had queries from a a. number of correspondents asking what Iwas i iwas was the matter with the motor stocks As Asfar Asfar far as the steels and motors are concerned concerned concerned con con- there is nothing new except that facts which were sent out In these wires six or eight weeks ago ago are now non being more generally printed and dev developing further liquidation Technically the general general gen get eral market Is in a delicately balanced position but i it IO looks Is as though the news trend for two weeks to come would not ilot be particularly favorable We Ve Understand Under stand that thai current reports will not be particularly encouraging h. h I IA I S A new ay of a false report I Iwas was shown yest when officers of i Pierce-Arrow Pierce Motor Car company called in reporters and nd laid a detailed d r t p-t I If Of or f the corporations corporation condition before I them giving permission to publish any ny figures in the statement The meth method d i probably will put a stop to talk about the i i corporations corporation's finances Times Times II |