Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-03-05
SPECULATIVE.
Movement in Stocks Irregular-A Weak
Opening Followed by Sharp Rally.
Union Pacific the Feature OF the Stock Har-
ket-Shorts Invest at an Advance in
Price-Other Advances
Special to the Gazette.

Special to the Gazette.
NEW YORK, March 4.-There was an
other movement Of shorts to cover this
morning In fact the short interest has
been showing considerable persistenoy in
its efforts to get back certain stocks,
and although the loaning rates on stocks
are not such as to indicate an exceptional
demand from the short interest, it is
probable that ia certain quarters the
outstanding short stock is of very con-
siderable proportions.
The movement of prices this morning
was irregular, most stocks beginning
with a decline followed up by a sharp
rally. The extreme ad vances over yes
terday's closings were: Cotton oil trusts,
q: Colorado coal, ~; lead trusts, /;
Missouri Pacific, %; Pullman, So;
Rock Island. y; sugar trusts, ~;
Union Pacific, 81; Wabash preferred,
Is. The rest of the market tended to-
ward strength, the advances averaging
M@36.
At noon the market was little slower.
The only net decline of the forenoon was
point in Jersey Central. Active trading
was in St. Paul and Union Pacific. Out
side of these stocks the volume Of busi-
ness was below the average.
The early afternoon market was
strong, with fractional advances in sew
eral stocks, notably Tennessee coal and
sugar trusts. The tone of the market
was favorable in the later afternoon
trading, though the movement was
somewhat irregular. Union Pacific sold
off fractionally. Tennessee coal dropped
down sharply, while Wheeling and Lake
Erie preferred made rapid advance. At
the closing the tone was firm.
There were rumors during the day that
q large amount of gold has been i'm
ported from France and that Secretary
Window had announced the resumption
of bond purchases. The latter was both
reiterated and denied. The story of i'm
ported gold proved tn refer only to
specie in transit for the West Indies.
Union Pacific was the feature of the
stock market and was bought up extern
sivelY by shorts at a considerable adj
vance in price. The bears begin to
appreciate the fact that the stock has
been depressed to an excessively low
figure for various causes and that any
rally in the market would be apt TO send
it up. The influence of this rise was felt
all throughout the market, and slight
advances were general.
st. Paul was active and higher on 9
favorable statement of earnings. There
were also other reports OF Increased
earnings.
Sugar trust was the most extensively
dealt in of all, and was higher.
Cotton oil unWontedly active and
strong.
Lest references to so many active stocks
be misleading, we have to say that the
activity was only comparative. The gem
eral tone of the market was more bullish
than for some time past.
People who have left Texas and Pa
cif1o so severely alone for the past few
months will be somewhat surprised to see
by the report to be presented tomorrow
how cheap income bonds are. The an
nual report will show large amount
spent for betterments. and good sur
plus over the fixed charges after these
extraordinary expenditures.
It is rather curious, but Atchison
seems to have settled down to the regular
business of taking in about 20 per cent
more money weekly than it did last year.
The change has varied very little from
that percentage.