Omaha daily bee., 1909-06-22
NEW YORK STOCKS ANDBONDS
Bears Circulate Rumor That Hsrri-
man is Fatally III.
D1sCRED1TED BY UNION PACIFIC
Reports From Paris About United
States steel Action Has Effect of
Hurting Valuesstory of the
Dap in stock Market.

NEW YORK, June Alt took several
hours Of waiting tactics on the part OF
professional operators amongst the opera
tons In stocks to demonstrate today their
satisfaction that the sharp fall in prices
last week had not attracted any demand
sufficient to form a basis for a renewed
The smash which followed was more
severe than on last Thursday. Selling was
almost as constrained during the early
part OF the day as was buying, with the re-
suit of dizziness and listlessness such as
have not been seen for weeks In the trad
ing. The bears still found effective ma
terial for influencing sentiment in the fears
Of bad effects TO follow the failure to Sc
cure admission for the United States Steel
stocks to the Paris Bourse. The direct
opposition between the reports said to be
received by private bankers regarding the
standing of the plan, and the assertions
of the banking interests coaccr led, did
not prevent the reports of the failure Of
the project from hurting values, Settling Of
United States Steel also carried he i'm
preston of liquidation Of some important
individual accounts.
The same appearance in the Wabash Sc
curities served to throw suspicion on the
active advance which has been effected in
those stocks. on vague limitations of i'm
poTtant developments, said to be impending,
but which have entirely failed of anthem
ITCHY. Amalgamated copper also proved
acutely weak and the transportation
dency there still in force. The progress Of
the decline brought out added efforts on
the part OF the pears, SHOWN DS lnelI ala
ing tactics and by the circulation of un-
founded rumors.
one of these rumors was T. the effect
4 that T.. II. Hartman had suffered a sud
den and fatal seizure in Vienna. This
rumor was put out late In the session of
the stock market, and was not traceable tc
any authoritative source, but 1t proved eN'
tremely effective, Notwithstanding the
prompt discredlt thrown upon 1t by Unlor
Pacific officials, who would have tmmedi
ate advice Of any happening to the head
of the system owing to the frequency n
cable communications from the travelel
with his business associates.
The sharp rallies, which followed thu
successive drops, were evidence of th'
part played by short selling in the weak
ness. This rule did not apply. however
to the final break, IN which the Harri
man stocks played the principal part. thu
selling movement being still In activ'
, progress when the trading ended. A rally
OF a point in Southern Pacific was thu
only notable indication of a check to tbs
movement.
Foreign exchange rose strongly to within
q few points of the highest point OF thu
season and experts computed a good profit
on exports Of gold to London at the pre-
vailing level.
Bonds were irregular. Total sales, pa
value, "a, 1854, 900. United States As, the 3
coupon and the As registered, declined a
and the As coupon n per cent on call.
Number of sales and leading quotation
on stocks were as follows:
aalaa. High. LOW. Close