New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-08-26
HARTMAN STOCKSFALL
BIG SELLING MOVEMENT.
Caution FolIo5cs Reports on Railroad
Mans Condition.

After reading about Mr.. Harrimans condition
and dgesting his interview in the morning papers
yesterday the speculative public hurried 10 get IN
fits selling orders. and result the stock market
opened active and lower with declines running 10 as
much as two points in some OF the leading issues.
particularly the Hartman stocks, few minutes
after the opening Of business. II appeared as IL
everybody wanted TO sell and nobody had any de-
sire 10 buy and under such food OF selling orders
prices declined abruptly.
In the first hour the Union Pacific shares fell
than points below the preceding day.
close while Southern Pacific lost % and New York
Central and Reading each about points. All the
other active stocks down from / point 10 (
points. once in while there would be feeble
rally, but the whole there little support to
the market the forenoon.
In the afternoon. when a message from Mr.. Har-
rimsn's physician made public saying that he
had slept well and psrtaken Of substantial break
fast and was feeling much better. prices steaded
and then advanced but the gains not sufi-
Gent 20 wipe out more than small part OF the
losses sustained in the first two hours OF trading,
and the close nearly all the leading stocks
showed net losses Of from = point TO 4ls points
One Of the exceptions American Smelling and
Refining. which made a net gain Of i. points on
the days transactions. The biggest losses. Of
course. were in the Hartman issues. Union Pa
cifo common showed the heaviest net decline 4is
points. Its low point for the day 204l. and il
closed at 205i5 The preferred lost 2@s points New
York Central 2ss points Southern Pacific 2ss points
and Illinois Central. Baltimore & Ohio and Erie
each lss points on the days trading.
while the poor physical condition OF Mr. Harri-
doubt had great deal to do with the
slump in the market. the principal bear factor. IL
said. was his statement that ne had not in
his mind at present any idea Of proceeding with
the Union Pacific segregation plan and his refusal
20 say WHISTLER the Vanderbilt holdings OF the New
York Central had been acquired by the Union Pa
oihc. The reports that plan for segregating the
assets of the Union Pacific had been perfected and
awaited only the return of Mr.. Hartman to be put
in operation. and that the road had taken over the
Vanderbilt holdings OF New York Central. have
been the chief bull arguments in the recent up
ward movement which carried Union Pacific COM
mon 10 2e The knowledge that all hope of a
melon cutting had vanished for some time to come
naturally caused great disappointment and left
the bulls without any firm ground on which 10
make stand against the overwhelming rush of
the bears.
The visit OF eK-Judge Robert s. Lovett. vice.
president Of the Union Pacific Railroad Company.
10 Mr. Hartman yesterday gave rise 10 rumor
that mir. Hartman was gong TO retire permanent
~ from active business, and that Judge Lovett
would succeed him in control OF the Hartman sys
TEN. This report not. however, taken seri-
ously IN well informed quarters. and II said
that in any event il highly improbable that
any one man would succeed Mr. Hartman as the
sctive head Of the great system he has built Up.
L. F. Loree. president OF the Delaware & Hudson
Company. who has been picked by Mr.. Hartman
20 represent him number Of railroad director
stes. is regarded by many as likely TO succeed his
chief ultimately as head of the Union Pacific Rail
road Company Judge Logett. Julius krutt-
schnitt. director Of maintenance and operation Of
the Hartman lines. ana Edwin Ha Wiley will. it is
believed. succeed him in other directions when he
finally decides is forced. lay aside his duties.
but no one man. II is thought viii again
occupy the position now held by Mr.. Hartman.