The Montgomery advertiser., 1909-09-11
THE STOCK MARKET

Ney York. Sept io.-The annals of ,.l no parallel for the action of the mar II. HSrihssn. H a0i'GH'ns Therss me have been in stances where due preparation In an ticipation of the death of an import 50 far as to minimize it's bad effects on the stock market, while in other cases. demoralfzation has followed, as on the sudden death of the ... iats eTs- ss. conduct of violent speculation. But for today's excited upshoot. of prices there Is no parallel Some of the prin- aih.ash fGf ns Ss yesterday who predicted rise In prices today were frankly regarded as sstrsmists The princips,i pps,css agents snd tbe m acute sufferers undoubtedly, were those who had presumed to sell stocks short on the assumption that hoiaers would rush them to sale at a sacrifice when Mir. Harriman's death occurred. Some of this class persisted in this sales of of these. hes stocks when they saw a buoyant rise at the opening or tne New York stock market this morning.
 Tnsir s." s"YPpostison wss nout by ar tificiai measures to reassure senti- ment and to facilitate further liauida- ton of sales The short selling be- C1TuS COnNthCcQ Dc1OEc thC Aee~ of the market was over that the re- to 'hSwn 1s R5hsss Rhs vash w the iS eOs stGfks hsa ao aeP price movement in Union Pacific. The discomfiture of the bears in Union Pa cific was materially increased by the ths Union Pacific Company, that they, the National City Bank interests and IA NfA aNa 0nft harmony in Union Pacife erairs.
 The deep influence of the announce ment must find its explanation in sim ister rumors which . have been I. sar circof of MT. Harriman's illness, that his prop critics. were being raided and that g breach was threatened amongst the %hieh misship pG%sfs Ssse widesprea9 eeets throughout the financial fabric. The short announcement from the bankers ,aselessneess s essness' of these suppositions and ever threatened, the differences had
 The inference went with the an nouncment of. an intention to carry forward MT. Harriman's plans regard ing the properties brought under his
 There was short time early today when American securities :. showed some signs of depression in the Lon- uOn mATkeI. HIS was DcIoiC 0oy had broken in New York, and long before trading began in the New York Stock Exchange American securities showed substantial advances in Lon on. It happened, therefore. that ar. here in the event of weakness. proved uncalled for. The market, in fact never touched the price levels at which these conditional buying or ders were placed. The resistance showed by prices had the effect of re- storing to full play the feeling Of con ndence .in the good prospect for gen movai of the dread of a shock from this deplored death would bring in, vestors who had been dissuaded from taking securities by the effects. me advance of steel bars during the day by the United Steel corporation whlcn brought 1t back to the level before the Februay cut was a factor in the rise of that stock to new record price. Prospects of a heavy decrease in the cash reserves of the banks this week was ignored and the, stock mar ket maintained its aggressive strengtn up to the end. Gains of two 10 over five points were quite general ana Union Pacific ended the day. IF l-z points higher than last night.
 Bonds were strong. Total sales par NaITG United States bonds were unchang- ed on call.
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