Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-11-12

| ciic, Northwestern Alliance and other
'Grnnge' roads, together with the
southwestern systems, had been ad-
Justed, and the shorts for the first time
III many days felt the anxiety which has
been the portion OF the bulls for so long
| time
There was russ TO cover shorts, and
| prices at the opening ranged from l per
cent. TO 2a8 per cent. higher than last
night s figures, aud ruuors from the
West caused quite a boom in Union Pa
cIhc, which run up quickly from Ia per
cent. to 49,.
The pressure upon the Villaris, how
ever, was the most prominent feature
of trading, and North American was
pressed down quickly from 27i, 20 2l1s,
aud checked the buoYancy In the general
list.
The failure of Whitney Il Co. was
announced, and large amount of To-
ledo, Ann Arbor and North Michigan
stock was sold under the rule for their
account. The stock mentioned sold the
other day ut 80, but was opened at 20,
and under offerings from the chair
dropped away quickly TO Is before
buyers, who were wiling 10 hold it for a
rise appeared. This gave check to
unable to settle their balances at the
clearing house found circulation, as well
Us predictions of the failure of n large
brokerage house. A perfect flood of the
Willard stocks appeared for sale, with
pressure principally upon Northern
Pacific, and for two hours after noon a
panic in those shares existed, the only
sentiment being it seemed to get out
as soon as possible. Northern
Pacific preferred WAS forced off rapidly
from 67 ct opening to % before the
terrible drop was checked. In the mean
time common dropped from % to H.,
aud North American yielded about 3
per cent more, with the making OF the
lowest figures.
The suspension of Messrs. Decker How
ell 4 Co. the firm mentioned as likely to
fan, was announced, and an eXplana-
ton given to the heavy selling of Villard
stocks. This infused n feeling OF relief
INTO the street, as il was felt that the
worst was IN all probability over for the
present, and considerable of n rally oc-
Cured III the last hour of business. The
general list, which was at its highest
points during the forenoon (some l TO AZ
per cent. better than last nights prices)
felt the influence of the heavy pres
sure upon Wizards, and in most
cases about all of improvement
was lost, while some of the specialties
declined 5 to 20 per cent.
An improved feeling in the last hour
was shown in another upward movement
in the list, and the close Was firm and
active, leaving most stocks at materially
better figures than those OF last evening
Wheeling and Lake Erie stocks are the
only ones In the usually active list which
show any material loss for the day out
side of the Wizards. The common is
down l58 and preferred per cent. North
American, however, IS SO per cent.
lower; Northern Pacific preferred lll8,
and common So. On the othsr hand
sugar refneries, which was helped at
the opening by the announcement OF the
names OF receivers, Is 81 per cent.
higher, Louisville and Nashville 81,
Erie 2, Union Pacific IA st Paul ia,
and others fractional amounts. This is
remarkable in view of the financial
troubles announced during the day, alto
gether with the fact that money was held
very tightly throughout the day, reach
ing y per cent. per diam and legal in
teres, on call, there being no offering OF
funds at any time during the day, and
the last loan beng made at the highest
figure.
Railroad bonds more active.
Government and state bonds dull and
steady.