Evening star., 1909-08-28
Stocks Indicate Unrest al
Opening of Exchange.
U. P. PREF. AN EXCEPTION
Railways Show Declines and Indus
trials Similarly Affected.
COMMENT ON HARTMAN CASE
Barring Prospects for Diminished
Crop Returns, Weekend News
Regarded as Favorable.
Epecial Dispatch to The Star.

Special Dispatch 10 Inc star
NEW YORK. August 2s.-Some stocks
broke savagely in this morning marke'
notably Union Pacific and the ISSUES
with the exception of Union Paclnc pre-
Serred. which have been identifed iateis
with the movements OF the Harrlha"
leader In the first hour Union Facihe
declined over five points from last mgnt
close and Southern Pacific and Ne" 1orh
Central dropped two points each f'ise
where throughout the railroad hst' iosses
of about a point were general.
Industrial stocks were similarly at
fected, with the exception or ANA
ed Conner and the United States Steel Is
sues It was unquestionapiy the stuios
resistance to pressure offered by the
United States Steel common which pio-
vented the decentralization of the market.
The comparative firmness OF Union
cifc preferred could hardly be accounted
fnr except on the hypothesis that It was
being supported from quarters WHICH hao
to let go of other stocks.
london sent over generally depressed
range OF quotations Tor Anericd,s anu
the ,penfng here was unsettled and Weah'
with Union Pacific and Southern Faclno
leading the decline. There were SOME
exceptions to the downward moVenie.l
in the .early dealings, but these stoehs
market was practically converted 70 lie
losing side of the account. Accompahs
ing the selling which was particuiaIIy
heavy in the issues most closely loehu-
fed with the recent course OF .he ~ ~
man stocks, with the addition OF Reading,
c7are the most pessimistic reports con-
cerning the illness of Mr.. Hartman and
the nature of his malady.
Regarded as Mysterious.
The way in which the episode OF Mr..
Harriman,s return and his apparently
very grave illness has affected the securi-
ties market makes the policy of secrecy,
which is being pursued in his case.
more or less incomprehensible mystery
ut has become customary. and rather
wisely 50, when men, who, while private
citizens are nevertheless public men In
d very true sense because OF their I'M
portance. power and influence, are seri-
Cusly afflicted to make some authoflta-
tive statement which will set rumor al
rest.
It has been proved very many times
that facts In such circumstances cannot
Accomplish as much harm as their sup
preston What intensif1es the mystery
in the present case is the obvious failure
TO extend important support to those
nuarters of the securities market most
logically affected by the Hartman
mystery This also is a departure from
the customary procedure in the cases OF
the illness Of men Of financial conse-
Auence.
Weekend News Favorable.
Barring somewhat diminished prospects
for very large crop returns without i'm
pairing the outlook for a sufficiently
abundant yield, the weekend news was
favorable. Bank clearings increased
about 80 per cent throughout the country
he frQHA rAnnrtS In.
dicate an expansion which may soon show
record-breaking volumes. The American
Railway Association reported q further
substantial DECREASE in the number of idle
freight cars, and the surplus Is now about
one-half of what il was at the beginning
of the year. Foreign exchange shows a
gain of Is to 30 points for the week in
what Is, however. a manipulated market
The annual report of the Chesapeake and
Ohio which was made public this morn
ing, showed double profits on the capital
stock in comparison with the earnings OF
the previous year.