Business: Shorts Exposed

On the defensive against threats of legislation, last week the New York Stock Exchange placed a further obstacle in the way of bear traders. Although short-sales great & small were being reported to the Exchange daily (TIME, Oct. 12), it was ruled that in addition the specialist handling a "sell order" on the Floor must be informed whether it was a real or a short sale. It soon became known that specialists were giving preference to real sales, were not executing short-sales at prices which threatened to demoralize trading. In addition, every...

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