Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1890-05-15
SPECULATIVE.
Gould Not a Bear on Granger Stocks.
Missouri Pacific Probabilities.
An Announcement Anticipated Affecting Ger
tain Bonds of the st. Louis, Iron
Mountain and gounthern.

NEW YORK, May Within day or
two the announcement will probably be
made by or In behalf of the St. Louis,
Iron Mountain and Southern railroad
company relative to the 81 900 900 FIRST
mortgage per cent. bonds upon Its
Cairo and Fulton division, which mature
at the end Of the year. Holders of these
bonds are to be given the privilege Of ex-
changing them for Iron Mountain gen.
eral mortgage as on even terms;
that Is, bond for bond. It
may be noted thst maturing
bonds are still selling upon seven per
cent. basis, which Is unusual since the
rates for renewing obligations OF that
class have been 4@5 per cent, holders
who do not elect before July l, to make
exchange Will be paid of at the end of
the year. 1t Is understood that exchange
and redemption will be effected through
an influential syndicate. Fixed charges
of the company will be reduced $l40,-
900 year by the operation.
Edward Lautsrbaoh, who was
believed to have been conducting
yesterdays negotiations for the pur-
chase of Baltimore and Ohio
by the Richmond Terminal, said on re-
turn to-day that he went to Baltimore
on regular business for the company,
but would not say that incidentally other
questions of interest were not discussed
with J. K. Cowen OF the Baltimore and
Ohio. He declared, however, it would
not be proper for him to discuss them ct
| present. "Wbatever is going on he
continued, 'sis as yet entirely uncertain,
and only half formed. Something may
come out of it all and again may amount
to nothing. -
Gould, all reports to the contrary not
withstanding, is not bear on granger
stocks. The selling of Missouri Pacific,
especially during the late trade, was
made most conspicuous In order to con-
Yey The impression that the Goulds were
SO disgusted with the entire Western
problem that they peremptorilY decided
| TO throw over their holdings. The truth
of the matter is the Goulds never before
had anything like the number of shares
| of Missouri Pacific which they now
possess. George Gould is authority
for the statement that Missouri Pacific
will sell higher on the next rebound than
1t has sold in many months. The sub
stantial manner in which stockholders
have subscribed TO the new collateral
bonds has been taken as O. direct evil
dence of their confidence in the Gould
management of the Missouri Pacific.
ALTON PLAYING A LONE HAND.
1t was announced this morning that
none of the other roads had followed the
example of the Alton inTeutting rates.
Altogether the situation was brighter.
London seemed to think SO, too, for she
had number of buying order in our
market. The morning market was not
strong; yet the bears made determined
raid on Missouri Pacific, Union PaciHg
and Changers, which was quite effective.
1t was only after the noon hour thaF the
bulls began 70 assert themselvesS aud
caused prices of these stocks and ~ the
market generally to improve. 81
Money was in demand again kg9deys
Recent drains by the sub-treasuEs have
reduced the scant supply to su9n an exc
tent that there really seems tosbe COM
parative scarcity of funds with which to
transact business. The rate was forced
up to per cent. shortly after noon.
BY far the most active feature of
| the market was Sugar Trust.
Prices for 1t advanced with amazing ra-
pidity. There seemed to be O great de-
mand for it. Boston and the inside ele-
ment were apparently at least anxious
for it. Private advioes from Washing
ton intimate that the sugar provisions of
the tariff bill stand fair chance of GO
ing through. These intimations from
Washington do not hurt the price of
certificates, although there are many
| persons who proclaim in stentorian tones
| that the bill will kill trusts. Atchison
and Chicago gas retain their hold on
popular favor. Canada southern
was active and strong again
to-day on London buying. Trading was
not so active to-day as it has been re-
Gently. Delaware and Hudson and Dis
tillery and Cattle Feeders trust were
among the strong features. Richmond
| Terminal is the subject of q large share
| of street discussion at present. The
| operations which are the immediate
cause of the activity of the stock are not
| yet in such state that they can
be made public, and meanwhile it may
be said that there is u considerable
amount of chatting talk which appears in
newspapers relative to the purchase of
the Baltimore and Ohio road. During
the last hour this stock reached high fig
ures on active dealings. Prices OF many
stocks reached their highest point in the
last hour. Atchisou went to 4714, Ten
nesses coal TO 55, Lackawanna TO 1851
and Delaware and Hudson to III.