STOCK MARKET: A Call for Quotas

Delmonico's, Wall Street's favorite restaurant, is crowded again and, despite the chill of midwinter, the speculative sap is rising in Manhattan's brokerage community. Last week the Dow-Jones average climbed for the fourth straight week, closing at 888.83, the highest in 20 months; on one day, trading volume on the New York Exchange set a new record: 28,250,000 shares. One single trade of 3,248,000 shares of Allis-Chalmers, the largest in history, exceeded the average daily volume of the Big Board eleven years ago.

The 1971 surge of trading has roused fears that Wall Street...

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