Monday, Jul. 19, 1937

Downtown

C, Prime mystery to Wall Street analysts has always been the exact part played by "little fellows" in market activity. To clear it up the Securities & Exchange Com-mission started last month to tabulate and release daily figures on odd-lot trading (less than loo-share lots), which makes up about one-fifth of all Stock Exchange transactions. Last week a full month of these figures provided solid data for experts in New York and Washington. Total buying orders for 2,934,843 shares with a value of $126,257.589 compared to total selling orders for 2,395.990 shares with a value of $103,758,787 showed that during some of the most decided bear selling in the last two years, small investors had been decided bulls.

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