The Birmingham age-herald., 1909-09-11
SHARP UPTURN IN
 PR|CES OF STOCKS Harriman's Death Does Not
 Have Expected Result SHORTS BADLY RATTLED Advance at Opening Is Thought to be Without Basis But Bears Turn Tail and Flee Before the
 Day Is Over.
SHORTS BADLY RATTLED

New York, September 10.@rhe annals of the New York stock exchange show no parallel for the action of the market to- day following the death of E. H. Harri- man. There have been instances where due preparation In anticipation of the death of an important capitalist has ap- sorbed the shock so far as to minimize us bad effects on the stock market, wihie III other cases demoralization has foho"eo' as on the sudden death of the late eN- Governor Flower in the midst Of ms CUT duct of violent speculation But TOT 'o- days excited upshoot of prices 'heie 10 no parallel Some of the principai rea9o"s for the movement are not obseure' ai- though the observers yesterday who pre- dicted rise in prices today were iran tically regarded as extremists. Ihe prin- cipal agents in the violent high prices ana the acute sufferers undoubtedly were those who had presumed to sell stocks short on the assumption that holders or shares in the Hartman properties would rush them to sale at a sacrlhce when MT. Harrlman's death occurred. Some or thls class persisted in this view to the ex- tent of making short sales of these stocks when they saw a buoyant rise at the opening of the New York stock eN- chance this morning.
 Their supposition was that this advance had been brought about by artificial meas ures to reassure sentiment and to faclil- tate further liquidation of sales. The short selling became convinced before the first. hour of the market was over that the resistance shown by prices was too strong to overcome. Their precipitate rush to buy stocks had much to do with the rocket-like flight of the later price movement in Union Pacific. The discom- fture of the bears in Union Pacific was materially increased by the announcement of Kuhn, Loeb S1 Co.,, the recognized bankers of the Union Pacihc company that they, the National City bank inter- ests and other leading interests are act ing in harmony in Union Pacific affairs.
 The deep influence of the announcement on sentiment must find its explanation In sinister rumors which have been circu- lated ever since the severer stages or MT. Harrimans illness that his properties were being raided and that breach was threatened amongst the controlling pow CTS in the property which might nave widespread effects throughout the imam cial fabric The short announcement from tce DaHNerS WeS aeScPeSN '- " P' tion of the baselessness of these supposl- t;ons and an assurance that if any preach was ever threatened the differences had been healed.
 The inference went with the announce ,,lent of an intention to carry forward MT Harrimans plans regarding the property brought under his control or influence There was a short time early today when American securities showed some signs of depression in the London market. This was before day had broken in New forh and long before trading began in the New York stock exchange American securities showed substantial advances in London. It happened, therefore, that arrange