Omaha daily bee., 1909-09-10
NEW WORK STOCKS AND BONDS
Early Dealings Are on Small Basis,
With Prices Slightly Lower.
RUMORs ABOUT UNION PACIFIC
Reports of Internal Dissensions, said
20 Involve Large Banking Inter
ests, Depress stOck-Harri-
man DenthNUnannOuneed.

NEW YORK, Sept 9.-The stock market
started out today with the supposCOn ep-
parently that conditions were adjusted 70
await the news from Mr.. Harriman,s SICK
chambe without further teverlsh exclte-
ment. The news Of the tnanclers oeAtn
came just thirty-five minutes AFTER the
The early dealings we're on 8 small basis
and prices were only slightly depressed
and showed a capacity to rally easily. Inc
protective measures in the market were
relaxed later and when the daily crop
OF rumors and contradictions began 10 De
received the gradual sag which set IN
was converted into a precipitate decline.
Support seemed to be withdrawn and the
market left to take care OF itself Inat
opinion in the financial community was
prepared for an unfavorable termination
Of Mr.. Harriman's illness was clear ana
was not disguised, The divergence Oh opsn.
effect on the stock market Of the event
These varied as widely as between pre-
dictiOns of a probable rally in the market
on account OF an over extension of the
short interest and dire prophesies OF a
disastrous slump in the whole market IL
was noted with interest that an acIVe
borrowing demand existed for Union Pac-
ific stock in the loan crowd where me
operators short Of stocks assemble 70 till
their temporary requirements by borroW-
ing stocks for delivery. This Phase OF q
short interest is too readily simulated 70
carry much conviction to protessiona!
Inc approaching annual meeting Of the
Union Pacific II was alleged had stlmu-
lated a DOTT0WllE QeIlanu AOE NnG STUN
for purposes of representation. This ex-
PLANTATION did not allay anxiety on the
part Of the stockholders, as II served to
give some point to rumors OF Internal as
tention to the charges made by Mr.. liar
riman's friends of an attempt to raid the
property during his Illness. Another ex-
PLANTATION OF the borrowing demand for
Union Pacific was that 1t represented sales
BY insiders ia the property who des red
stock for delivery rather than appearing
openly as sellers. The belief that a breach
had occurred amongst interests hitherto
acting in concert in this proportion pro
perty gave Importance 10 repor.s ina IN :
difference had spread into the banking
world and involved important interests,
which had been brought INTO strong accord
in Inc troubled period during the financial
panic when a spirit Of cooperation was
rife. Gables from abroad indicated an ap-
prehenslon amongst foreigners that the in
tegrity Of the market pool in United states
Steel was threatened by this rupture. The
amount of the load which this reputed pool
is carrying is estimated at enormous zig
ures owing to the determined absorption
OF that stock at all levels and against all
obstacles which has been long evident. the
special weakness of the Gould group was
due to the supposed interest Mr.. Hartman
has shown in the long contemplated finan-
ciaI plan for these properties and which
1t was feared might be preJudiced by me
new conditions. Money rates were not ar
fected. limitations from lenders OF money
involved in speculative holdings OF stocks
doubtless had a share in the unloadlns
that was in evidence. Professional bear
selling was a conspicuous fact and the de-
mand for this element to cover shorts
worked the substantial rally from the low,
in carrying prices considerably lower than
we're touched in the slump on Saturday
August Is.
S. 46, 900. United States bonds were I'M
changed on call. 40
Number Of sales and leading quotations
-. - H. - oG fn1InnTGs