Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-04-17
SPECULATIVE.
American Securities Experience Boom
on the London Stock Exchange.
An Interesting Meeting of the Directors of the
Pacific Mail Steamship Company An
tlcipated To-Day.
Special to the Gazette.


NEW YORK, April 15.-London is very bullish
inclined at present. The prices of securities adj
vance on the slightest encouragement. This is
partially in the nature of reaction from the de-
preston of few weeks ago, when the resigna-
ton OF Bismarck caused a great selling of
stocks. The growing ease OF tho money market
! over there is also a considerable factor. Money
to-day was down to 1L4@I1h per cent. Some of
the crumbs of comfort which were yesterday
thrown out to patient carriers of long stock
in this market were gobbled by eager
London bulls, and our securities had
| regular boom on the London
stock exchange. Every stock showed advances,
those in Union Pacific. Louisville and Nashville,
and Canadian Pacific amounting to per cent.
in the early dealings.
interest, but it was strong. st. Paul was
leader in small speculation and showed marked
advance.
Pacific mail has another strong feature.
DeleVare and Hudson remarkably strong.
Concerning Rock Island statement was pub
forth that for the year ending March 81, 1890,
while Will s the company tnGy paidi per
per eet an the surplus to March 81 IS 8
was estimated at $3.50. zoe. For the year to March
81, 1889 there was: as is al
but in that year the company paid 81 per cent.
dividend.
The news about the Western rate troubles was
The price OF silver continues to jump up as
result Of the talk from Washington about silver
legislation, The New York price advanced l
cent to-day ON the stock exchange. Ninety
nine was bid for bullion certificates but the
holders of certificates did not seem disposed to
part with them at present prices.
The reduction in the rate for sterling exchange
was due to the fact that London is buying our
securities, thereby adding to the supply OF bills
this side.
Money rates were fairly stiff again to-day.
The directors of the Pacific mail steamship
company are likely to have a very lively and in
teresting meeting tomorrow. The question of
disseminating the present line from China to
san Francisco and establishing a new line from
China to Tacoma to run in connection with the
Northern Pacific railroad, will probably be
brought before the board for definite action.
the change, and of course has a strong follow
| ing. but there is also a decided and powerful
opposition, to the scheme, backed,
ton and the Union and Southern Pacific
people. As it is the Pacific mail and Occidental
steamship lines both have their terminals 1T
San Francisco, thus feeding the Southern Pa
chic and Union Pacific roads. By way of the
latter they feed the Rock Island, Chicago, Bur
ingtOn and Quincy, and st. Paul and North
western, the last named under its recent agree
ment with the Union Pacific receiving ali freight
that is not billed via any specified line. If the
Pacific mail line were TO he withdrawn from San
/ Francisco its freight would be diverted to the
Northern Pacific. tt will thus be "a stab
at all the San Francisco lines, particularly the
Union Pacific and it's ally. the Northwestern.
This may be stroke OF Gould's.
Among other rumOrs causing the ADVANCE in
the stock to-day was one that Mr. J. g. HOus-
ton, formerly president of the company, would
be restored to the office. Regarding this it may
be authortivey stated that a certain clique in
Pacific Mail has undertaken to accomplish the
change buU that unless the Gould contingent
consents no such action will be attempted.
Special to the Gazette.
NEW YORK, April 1G.-The course of prices on
the stock exchange to-day did not indicate any
thing in particular. A few securities on which
bull pools at work, such as Lackawanna
Colorado coal, and Atchison were very strong
The absence OF any pronounced tone in the mar
ket at large made it easy for the
them. Sentiment was at standsGu.
The failure of the committee on the reorganfza-
ton of the Presidents as citation to come to
any agreement had been expected. 1t left the
Western railroad situation just where t was be-
fore. There was no news from Washington re- ,
Ia ting to attempts at silver legislation. These
two subjects now seem to fill the volatile minds
of Wall street to the exclusion of all else.
character to early dealings in the general list
was the fact that London buIish.
The cables reported nearly all American Sc
curities higher the London stock exchange.
Dizziness and the perfunctoFy character of the
trading told upon the market later and many
stocks fell off, among them st. Paul and Bur-
Hngton and Quincy.
Lackawana was the feature of the day, if such
it might be called, and was very extensively
bought by the members of the pool which is
bullingit.
Bar Silver prices in London and New York ad-
vanced again. The ct empt to introduce ac-
tiyity in the dealings in bullion certificates yes
terday has fallen fiat,
In the afternoon lugubrious report came from
the West, to the effect tlat Alton had given the
threatened six days notice of reduction OF rates
on lumber and packing house products. 1t Is
said that the effects Of these cuts will be very de-