Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1909-09-11
HARTMAN ISSUES GAINED IN
PRICE INSTEAD OF FALLING IN
TO DECENTRALIZATION AS SOME
OF FlNANciERs FEARED.
WALL STREET WAS
READY FOR END
HARRlMAN's DEATH HAD BEEN
ANTICIPATED BY THE FiNAN-
cIAL WORLD AND PROMPT
MEASURES HAD BEEN TAKEN

New York, Sept. 1o.-The gen
eral opinion in financial circles
this morning was that the busl-
ness world Is prepared for the
shock of Harriman's passing and
little or no apprehension was ex-
pressed. It is the general belief
overwork was the cause of Harri-
mans death.
New York. Sept. 1o.-The stock
market opened active and strong with
prices generally higher. Southern
Pacific was up 21s, Union Pacific IN,
and Reading 1ss. The prices later
yielded some, but on the reaction the
Union Pacific touched 197sz. Read
ing s1.5SB, and Q. S. steel rs.
Soon after noon Union Pacific sold
at 206 and preferred at 112. Read
ing was above 161. The violence OK
the advances induced feverish tone
and there were sudden relapses;
Union Pacific preferred falling back
21s and common over a point.
In the late market U. S. steel was up
to 803z, a new record price. Union
Pacific rebounded to 206idsy and the
entire list returned to its best figures.
At the close Union Pacific again
rose. touching 20714. Reading gained
SIS.
Wall Street Ready For End.
New York, Sept. blowing the
expressions Of deep regret on Mr..
Harriman's death, Wall street began
to consider the question as to what the
effect might be on the financial world.
In this connection 1t was pointed out
that Mr.. Harriman's friends and the
great fnancierss generally have known
for some months that the malady with
which he was afflicted was not durable
and that it was only a question of time
until, even if he rallied from the pres.
ent attack, it would be necessary for
him to lay down the active direction
Of the great railroad fabric that he
had built up.
AS these facts were known to the
men whose influence is greatest moi
only in Wall street but in the general
business affairs of the country, 1t was
assumed by good judges Of the situa
| tion that undoubtedly ample prepare
tions had been made for the event
uality of his death or retirement.
i + - uedtu COlueSs dD Z
time when, in general, the business
| affairs of the country are in excellen1
condition, with realization of those
/ bountiful crops which he himself, IL
one of his last notable interviews
prophesied would be one of the great
est sustaining factors of American
credit. With these facts in mind an6
the general knowledge that Mr.. Harri
4 man, in any event, could not long con
tinue his active career, Wall stree
had already prepared itself for the end
4 There was no feeling of shock O.
alarm, therefore, when the announce
ment came, beyond the sentiment 0
sorrow, and as the hours progressed
! it became evident that there was
general feeling of security and even 0
serenity as to the future.
(. For a time there was some tall
among the leaders cf finance as to tn
desirability of informally conferrina
but even this caution was deemed uT
necessary. The representative men !,
Wall street left for their homes abou
the usual hour this afternoon.
Such prominent figures as J. P. MOI
4 gan, Jacob H. Schiff, James Stillma
4 and George W. PERKINS went to thei
i various homes without a concerted az
ton. They all expressed feeling c
deep personal regret, but most of ther
desired to avoid an off-hand or hui
3 ried appreciation of career SO nots
BILE as that of Mr.. Hartman.
Numerous reports were current i
financial quarters concerning the sta
us Of the vast properties under Nj
\, Harriman's direction, one of these r,
ports being that his securities of tn
! railroad properties of which he wa
the head had been trusteed and wer
held intact for the greater safety {
his estate and the properties concern
ed However, there was no autho
itative opinion Forthcoming on this r
J port, or upon the general dispositio
to be made of his property.
Besides J. G. Stubhs and Juliu
Kruttschnitt, Robert S, Loyett ha
J been mentioned as Mr.. Hartman
: possible successor. Mr. Lovett
} general counsel for the Union Pacif
/ road. 1t is also hinted that Lenor j
4 Loree, former president of the Bait
Y more and Ohio and later president
\ the Rock Island road will succee
him.