Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-08-31
DOINGS In THE WORLD OF SPORTS
The Markets.
NEW YORK STOCK MARKET.
Features Of tho Days Dealings in All
The Leading Stocks.

New York, Aug CA lessening of the
gloomy apprehension regarding the condi-
tion of health of r. II. Hartman was
manifested in financial circles well in ad-
vance of the opening of the stock market
today. In fact, the fright which seized
the stock market community on Saturday
might have been dissipated before the
market closed had the session extended to
the afternoon hour usual on week days.
AS it was, the afternoon period on Satur-
day and the Sunday interval saw steady
gloWt tn of confidence that the danger of
Mr.. Harriman's condition had been exag-
gerated. The frankness of friends and
members of the family of the financier
in contrast with the my stery which has
been wrapped about the subject since the
return from Europe and the disappear
ance from public view took the. ground
from under the feet of the alarmists and
rumor-mOngerS.
The consequence to the overwhelmed
short interest was rather serious, as the
first prices quoted at the Stock Exchange
cancellation of a great part of the heavy
losses suffered in the sharp decline of
Saturday. The shorts themselves contrib
uted to this showing by their scramble to
secure stocks. The Hartman stocks were
naturally most affected, but the buoyant
tone was common to the whole list. Open
ing gains of one to over three points over
the closing prices of Saturday were gem
eral throughout.
The number of brokers in the Union
Pacific crowd before the opening was es-
timated at $50 to 200 and it was asserted
that many of these orders were for small
accounts. The time of the execution of
the first 1900 shares of selling orders
was undistinguiShable, and simultaneous
ly prices We're quoted of 200 and 200 7-8
The movement in Union Pacific was a
dominating influence on the whole mar
ket for the whole day. Its occasional re-
actions on profit-taking brought pause
in the general movement, and when its
advance was renewed aggressively the
whole list responded although in much
less degree than in the premier Hartman
security. The price touched 202 "a and
closed only Is below that. The sustained
strength of United States Steel complet-
ed the reinsurance of speculative senti-
ment There was a new feature in the
aside from the changed view of E. H.
Harriman's physical condition. Even
while prices We're tumblng last week
there was no claim of any unfavorable
factor in the general business and finan-
ella! condition.
Rains in the corn belt over Sunday cor
rected one of the few unfavorable fac
tors pointed to last week from doughty
conditions. Railroad traffic officials MAIN
tain an enthusiastic view of the pros
poets and the rapid decrease in the sur
plus idle cars in the past two weeks
bears out their views. With the covering
the latter demand abated considerably,
but the appearance of Mr.. Harriman's
dictated statement was coincident with a
final rally to strong closing.
Convertible and speculative bonds were
strong, but the general tone was irregu-
lar Total sales, par value. So, 2J0, 600. Unit
ed States bonds were unchanged on call.