Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1886-12-19
TRADE REVIEW
How The FrOth was Knocked OF the
Stock Market by the Bears
on Wall Street.
Row The Pressure on the Banks was re
'lieved-FRiiures for tho Week.
The OUTLOOK.

NEW YORK, Dec. ls.-R. G.. Dunn &
Co.'s weekly trade review says: The
past has been q week Of unusual excite
ment. The sharp decline in the stock
market was forshadowed by the recent
unhealthy advance in securities that d.
not secure, and in some of these the fall
was from $50 to $57 per share, but If
teen other stocks lost over $40 per share
and the average price of active stocks,
good and bad, fell So 80 per share from
December to the lowest point on Wed
nesday last. "Knockipg the froth off
the Market" as one broker called it. la
that CASE there was good deal of troth.
Some recovery has since occurred but it is
yet too soon to determine whether the
bottom has been reached IL Is surpris
ing and creditable that thus far only one
failure in the exchange has resulted from
such fLl. Money was ariidcially locked
up beyond doubt, ana the decline thus
increased and the rate rose from to 8
per cent. on Saturday, to 10 per cent. as
the lowest and Is per cent. the highest,
on Wednesday. This difficulty has been
met by shipments from many interior
points, the Canadian banks sending
$4,000 by the arrival of 81 400, 900 on
Thursday from France, and shipments of
S2,OOO,OOO from London, aud by the
treasury's offer to prepay $9,0oo,OOO in-
terest.
The advance in rates oy the Bank of
England Is meant to check the outflow of
G Id, but the supply is now in sight here
ana the shrlLkage in speculative demand
shnnld prevent any stringeucies in money
Ter commercial or industrial needs IL
Europe does not unload her stock. So
far the Wall street excitement has no
effect on general business Other specu-
latlve markets were neglected, and the
Gales were far below previous records.
on and gram dropped, but recovered
Coffee broke at Hayre, and has not recov-
cred.
Cotton yielded shade, but hog
products advanced.
The Thomas company, which largely
controls iron prices, fixes $50 as the prlce
for No. iron for 1887, aud has sold 40
per cent. more in 1856 than In auy other
year aud engaged Ill 900 tons already Tor
next year.
Important failures at several points
show individual rather than general over
trading.
Dry goods was less active but trade not
unhealthy.
Exchanges outside of New York still
show that the volume of business at the
North Is very large, though some depres
sion exists In parts of the South.
Railroads have agreed to advance east
bound rates cents December 20, and
have large earnings already, but while
wall street acrobatics do not affect gen
eFal business the continued depression
and failure TO sell securities might check
railroad building aud iron making.
The return OF large body of American
stocks held abroad would cause heavy
loss OF gold and severe pressure. me
weatherwise viii watch for signs i'm these
Quarters. Thus far Europe sends gold
and buys stocks. eS'N
Inc Interstate commerce bill ia thouoht
Dangerous by many investors. ana ire
passage may cause the unloading Of So.
1he issue OF silver certificates Increases
Ss'uoo, GEO more having been put out lasI
week, while the treasury took In al .5oo
600 more gold. V''oVV'-
Risks IN stocks BY individuals are Al,