Stock Trading Fury

Furious was the rate of trading all last week on the New York Stock Exchange. Many a trader had been bearish, gambling on the probabilities that prices would fall. Of this, shrewd men laden with money were fully aware. They bought stocks and in such quantities that the bears could not supply. Shares of the Radio Corporation of America were particularly and peculiarly in demand. One Michael J. Meehan, Manhattan broker, bought and sold them for Arthur W. Cutten of Chicago and the Fisher brothers of Detroit, who managed a sort of corner in R.C.A. stock. Its price, consequently, rose $30 in the week. Prices of other stocks rose correspondingly. When the week ended, members of the New York Stock Exchange realized that on each of five successive days they had traded more than 3,000,000 shares, a record ; that during the week they had traded 20,500,000-odd shares, another record. Whereupon, Trader Meehan broke another record--by paying $315,000 for a partner's seat on the exchange.