Bull! 1-ton Brahma opens Phila. Exchange

A live bull was paraded into Philadelphia stock exchange this morning to "ring" the ceremonial bell that signaled the opening of the markets.

TC, a gentle-tempered Brahma bull, was greeted by nearly 100 people as he arrived shortly after 9 a.m. at 1900 Market Street. He rode the building's freight elevator down one level to the Philadelphia Stock Exchange's trading floor.

"There's been alot of talk about insecurity in the markets," said Exchange Chairman Sandy Frucher. "A lot of people have been praying for a bull market. But here in Philadelphia we're actually going to create a bull market."

Competitive cowboy Clovis Crane of Lebanon Pa. struck the brass bell three times at 9:20, causing TC to shiver and wince.

Not so the international markets. This morning Japan's Nikkei index closed up 4.1 percent, China's Hang Seng rose 6.7 percent, and in Europe, the FTSE in London, Germany's DAX and France's CAC indexes are all up 1 percent.

It was the first time the Philadelphia Exchange has played host to stock of TC's sort, Frucher said.

It was also a first for the bull.

"He's used to a different kind of stock exchange back home in Iowa," said trainer Will O'Connell. "The stock there is usually walking around a big barn and grunting."

Floor traders applauded the animal's appearance.

"The bulls are back!" said options trader Michael Ehnow, hoping that the animal would bring a continued run of good fortune to the market. "I need all the luck I can get, believe me."

Other market employees said they were stunned at the live bull's appearance.

"I thought they were going to roll in a statue," said Roger Benton, an assistant computer administrator. "It may be a publicity stunt, but I'm amazed."

TC, Crane, and O'Connell are in town for a rodeo tomorrow night at the Wachovia Spectrum.

The market has had numerous celebrities open the market, among them Danny DeVito and Donovan McNabb. But this is the first time a live bull had received and made good on an invitation.

A live brown bear opened the market on Feb. 23 1972 when the exchange was located at 17th and Sansom Streets. Interest rates rose sharply following that animal's appearance, Frucher said.