WALL STREET: Little Man's Market

The New York Stock Exchange last week junked an old trading rule, decided to permit a greatly increased number of stocks to be traded in units of 10 shares instead of 100. Effective Sept. 1 on 24 high-priced, inactive issues still to be picked, this change means that 1) millions of small investors will save the odd-lot premium (usually ⅛ point per share) formerly paid to odd-lot brokers; 2) small purchases or sales can be made in the regular market without waiting for a 100-share transaction. If the experiment succeeds it will be extended to other issues.

Wall Streeters hope this...