The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-09-10
GREAT RISE IN SECURITY VALUES,
THE HARRIMANS PAGING THE
ENTIRE LIST.

NEW YORK, Sept. 100 ,. MN the
last hour the shorts have been ightine
like troopers to get out Of the trap that
they themselves created. Union Pacific
rose TO 2o69s and is now 206, the prefer
red Is 1l0lz, or within IL from the top.
Southern Pacific Is near the outside
price Of the session. New York Central
is 1855, Reading ISL. Great Northern
152&. and Steel common, which touched
s. I. is now So The preferred is 1854
The whole list is strong. and great ac-
tivity prevails. The trading has been
enormous, and the showing that the
market has put forth is a compliment %
the men who managed the trap that
caught the overextended shorts. They
have been given an awful lesson. Tho
rise in Steel common Is nearly points,
Union Pacific common lacked but Is to
be a 12-point jump.
And here, there. and everywhere the
advance is rehected-too numerous TO
mention. actually.
NEW YORK Sept 1o-It was the ex-
pected and not the unexpected that
happened In the stock market this
morning. II was the shorts. and not
the holders OF actual securities. that
were shaken out OF their boots.
Wall Street discounted the passing OF
the magnate. discounted it a week. two
weeks ago. discounted il yesterday af-
ternoon. and overshot the market
The result. the expected, was a sharp
advance in London. and, with the open
ing Of the local market a further squirt
that exceeded all expectations, a squirt
so great that It induced some selling by
BUYERS who took on shares yesterday
AFTERNOON. as well as by others who
took on stock this morning.
AT the opening stocks jumped a cou-
pie Of points. steadied and hesitated for
a few minutes. Close students OF the
tape. the tape that tells the story,
watched with eagerness the develop
ment OF the tale.
It looked at first as II there was to
be but a momentary gain, then gradually
II developed that the shorts were on
the run ike a pack OF scared rabbits.
tumbllng over each other IN their ef-
forts 20 get out from under the LASH
being applied to them by the friends
of the late Z. II. Hartman, by Nor
gan, by Rockefeller, Gould. Hawley.
and thousand and one lesser lights in
the turmoil Of the Street.
Rested and Rushed Up Again.
Occasionally the list settled back bit.
only TO go forward with accelerated pace
a little later Just before noon il hes
itated and dropped back a point. then
II turned again and once more the
bears we're ripped and sIugced and
knocked about IN a manner edifying 10
the bulls, but with CORY results 20 the
happy bunch that did the smuggling yes
terday and the day before.
II was in the noon hour that Union
racine touched a fC
as compared with the closing yesterday,
rise that made yesterdays break look
Ike the proverbial 30 cents.
OF course there We're other selections.
Judge Lovette and Mr. Loree have
been associated with the MooreQ for
years. Loree Is tipped by some big men.
but 4 Is not known that the gentleman
mas the market knowledge that would
be necessary for him in assuming the
position Hawley has.
Other Gains.
Reading moved up points and g.
point advances were numerous. The
table below indicates plainly the char
acter Of one Of the broadest markets
Wall Street has ever known.
Not Only Harriman's.
But the advance was not only IN
the Hartman group OF stocks. although
these were the leaders. It extended
apparent IN Steel common. The bears
took excess liberties with this stock
yesterday. and here, too, they paid the
penalty. II opened at Is a "a gain.
slumped slightly 10 ~. then rose to
1es, and heid firmly around -. as COM
pared with a close Thursday AT 1888
The preferred also moved up sharply.
A. P. Preferred Booms.
Union Pacific preferred set the mace
for the common stock as II rose much
higher m the initial trading gaining 81
points, while yet Union Pacific common
Jagged The theory I'm many quarters
is that the directors will now undertake
the unihcation Of Union Pacific, South
ern Pacific. New York Central. North
western, Illinois Central. and other Har-
riman properties into one big corpora
ton In this they viii likely meet tho
opposition Of Judge Lovette, perhars Of
j. D. Rockefeller, whose position inst
al this time. is that OF master Of fbE
money Stillinan. Prick. and other
friends OF the late L Il Hartman.
Hawley's Strong.
IN the passing Of Mr.. Hartman
George Gould has lost another fr4en6
Only moderate gains were recorded IN
the Gould shares. The TIavlevs acted
well. a sharp gain being recorded In
Chesapeake and Ohio. 2ss points, points
tn Iowa Central, and sharp advance in
Colorado Southern. There are many
Wall Street interests that dare the pre-
dictiOn that r II. Hawlev will be a hiy
factor in the future OF the marIet-dar-
ing. aggressive. capable, and fully I'm
formed as 70 the Hartman plans Some
dare 70 suggest that the mantle OF the
dead leader Is likely 20 fall on Hawlev's
broad shoulders. You may laugh at
the suggestion" said one broker, .-Dut
III make II just the same" Others re-
peated the story.