Stockmarket

Wall Street professionals are learning the difficulty of being unable to see the forest for the trees. Hard-bitten by many years of experience in stock speculation, they believe that what goes up must come down, and have therefore been led to sell short many of the leading speculative stocks. But the market keeps on upward, steadily and remorselessly. The paradoxical result has been that many an amateur speculator west of the Alleghanies has, by continuing to buy stocks, serenely drubbed the professionals of the financial arena.

After the Bori-McCormack concert (see Page 14) there was a startling-move in Radio Corporation of America, under which the issue shot up swiftly. In fact, the companies which are particularly connected with the radio business have almost all enjoyed a sharp rise.

It has been made very clear that the present stock market is no ordinary affair, nor can the bulls be discouraged by any trifling opposition. The public, long indifferent to stock-trading, has come into the market with both fists.

On Saturday, Jan. 4, the two-hour session on the New York Stock Exchange saw 1,474,750 shares sold--a record for the short Saturday session since Aug. 18, 1906, when 1,545,000 shares changed hands. The latter day is the most active of any Saturday in history.