Wall Street: The Paperwork Predicament

The nation's overburdened stock markets called time out last week, but investors didn't seem to hear the whistle. Stock exchanges and the over-the-counter market took a one-day holiday to let brokerage houses attack a mountain of paperwork that has swamped clerical staffs. The shutdown was the first of three consecutive Wednesday closings to be followed by a similar non-trading day on Friday, July 5.

When the markets opened last Thursday, a burst of trading toppled volume records not only on both major stock exchanges but also, by brokers' estimates, in the over-the-counter...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!