Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1886-01-08
The Reorganization Of the Texas Z
Pacific Attempt to Bear
That Stock.
Yesterdays sales Of Railway Bonds-
Fair amount Of Business 81 Coed
Prices Wheat Higher.


special 70 che sazafc.
TExAs RAILWAY BONDS.
Nrw YoRK, Jan. Among the railway
bond sales to-day we're, 10000 Texas g.
Pacific incomes at 81; 1900 Texas Pa
ciac Rio Grande division ex-coupons al
-. 1000 do. 80 4GI 1000 do. 20 iG3 1000
do. 40 4sI; 1000 DO. % a.. 5000 d. az 46i;
1000 Texas & New Orleans, Sabine diyis-
iou, al 1904 1000 Kansas Texas general
mortgage at 9g; 1000 Kansas 4 Texas IS
at 7ss; 10, 900 Texas 8 Pacific Rio Grsndc
division ex-coupJns ai IA; 5000 do at
l73; 1890 do. 80 ~ 20o0 DO. at ifi
1000 do. az "a 1000 do. AZ i5i 10000 do.
at f7s.
The traders sssrchcd all dsy for weak
spnis and finally struck Texas q Psc &c
aud kansas & Texas, which yielded to the
efforts brought - bear against them.
Reports that work had been begun on the
N P6sO, s.. i0uis & Chicago road were
used Against these two stocks, the decline
IN witch had some little influence on The
afternoon dealings.
Il IS reported that the holders Of sSi,-
000, ono worth Of Denver q Rio Graude
stock have agreed 10 pay the assessment
IN accordance with the Cappell plan.
The plan Of Reorganization Of the Texas 6
Pacific is understood 20 be about as fol
lows. The new stock % be SIS ,000,g90,
Of this amount about sli coo, 900 VIII De
used % take up the present stock Of
s2a,5d1. 600 on the basis II three Of old 20
one share 81 new stock. The balance
ui SOP ,000, 900 IN stock it Is proposed
30 sell, thc first mortgage con-
snlldAted bOndholders Of the eastern
division 20 receive new per cent.
bonds az par, the RiO Grande
division bondholders 70 receive 60
per cent 80 Q per cent. bonds aud ~
per cent 10 an income bond on that
division The New Orleans division
bondholders % receive 30 per cent In
new per cent. bonds aud 90 per cent. IN
an income bond on that division, the
preseat ia0d-grant boudholders 10 receive
lands Of the company which are already
held against tbs mortgage To fun settle
mtni % these claims.
on opened az sSc aud closed AZ .gtc.
Whezt more active and slightly higher.
Cotton advanced 3 points
GOVERNMENT, SroCEs ANu BoNDs.
AEW YORK, Jan. Cow rument bonds
DOH and steady
Tao feature Of tae railroad bond market
continue Nv Pee tire investment demaud
for q Crf1i variety % ISSUES, especially
tnc.e which fti Gear OF below far prizes.
Tonight geleully .aoas advances.
Tbs recent dllluess IN the stock
mnrket Wns intensified Ia to-
day'@ opersrnas the tntsl sales being
pule go l5s shares. The oniy features
wese 90 EEie ami Texas s Pacific Before
the op5uiug the street was well supplied
with ruiDor- that news q an I'd
verse ch4fJcr regarding The Texas &
Pacific wUh.c come ont ID day or
tEu, aud laiar it was sisted that
persons controlling g majority Of the SCI
en- .i.es 81 Zee c0upauy hal agreed on \
pan ~ rcrau DizaN5n er5ulyiug the fol-
lowing features: The aew company TO
haye a capital stock oi sag 100000; the
bp.ler- % she prrseut stock 10
be given 100 shares now stock
for Go3 shares Of the present
stock. This VIII use up about SIl ,o00, 00G
OF iae nsN stock The balance, about
So 001,01). - 1e sold IN market, the fin
al consolidated 5Ondholders 10 receive
ncw per cent bonds az par interest 10
boslu Jgly :, 1857, Texas & pacinc Rio
G0nie division stockholders 10 receive so
peg cent. in new per cent bonds and
~ Prf cent ~ an income bond
On the no Gmpde division,
New Orleans Pacific drsi mortgage bond
holders " receive 50 per cent. 90 new 8
per cent bonds and 50 per cent. Ia an in
come bond On that division the present
land grant hondholders 20 receive lands
81 company already hcld against
these bonds In full settlement Of
their lien upon property After
opening AZ iSt and sclliag early Al lss,
the stock broke during the day 70 IA
and closed { higher. with . ne. loss Of j /
on transactions, amounting a. only ~. 1850
shares. Erie common was the only really
active stock on the list, the sales aggrc-
gatiug $500 shares. sud II closed with
net gain o. l q, 2Gs The preferred
shows further advances OF / per cent. 81
3isc The other changes among the &C.
tive stocks SIRE all small fractions and are
about equally divided between the gains
and losses.