BOOM IN SHARES

Southland Times, Issue 20446, 26 March 1928, Page 7

BOOM IN SHARES

NEW YORK EXCHANGE BROKERS APPEAL FOR MERCY UNPRECEDENTED VOLUME OF BUSINESS (By Telegraph—Press Assn—Copyright.) (Rec. 5.5 p.m.) New York, March 24. Customarily well-groomed the Wall Street broker is undergoing a remarkable change as a result of the stock market’s recordbreaking rally. He has been pushed about rhe trading floor for thirteen days in a frenzy to execute an unprecedented volume of orders and the pressure is beginning to tell. Many of the less fit have already dropped out and left the city for vacations, making the work even harder for those remaining. These made an appeal for mercy from the floor of the exchange to-day. They petitioned the Governors for a triple holiday, asking them to close the doora on Good Friday and the Saturday, but no action has yet been taken. The records disclosed that since the foundation of the Exchange in 1792 until January 1, there were only eleven three million dollars share days. Thus the present boom has broken all records. Each broker's commission averaged 830 dollars daily during the boom with the total sales of approximately 44,000,000 shares.—A. and N.Z. STOCK EXCHANGE’S HEAVY SALES. PHYSICAL EFFECT ON TRADERS. New York, March 23. Stock Exchange sales totalled 3,585,900 shares, making the eleventh consecutive three millions share day. General Motors was a sensational feature, adding 8$ dollars per share and closing at the record for the present shares of 187 L Traders on the Exchange are beginning to feel the effects of the tremendous strain of the past two weeks, many nearing physical exhaustion during the session.—A. and N.Z.