Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-02-26
SPECULATIVE.
ChicagOans Buy on the Strength OF
Business Two Years Hence.
They Succeed in Giving the General Market
BuilIsh Tinge, Although the Deal
ings were Small.
Special to the Gazette.


NEW YORK, Feb. 25.-In accordance with the
peculiar logical processes by which stock opera
tions are governed, the announcement of the
result of the vote on the Worlds fair, had an
appreciable effect on bidding in stocks this
morning. The woolly WesterDers, flushed with
hope and glutted with increased sense Of
their greatness, telegraphed orders to buy
Granger stocks, on the strength of the increased
business to accrue to the Western roads two
years from now.
This would seem too absurd for consideration,
were it not that such is really the fact-and for
the converse reason Manhattan elevated stock
declined. The booming OF Changers by the eX
cited Chicagoans added to the impetus left over
from yesterday afternoon, and the booming OF
shorts started the general market of with
rush. London gave number OF buying
orders which helped things along. New
vance, and the weakness of this stock is at
tributed to the withdrawal of the support of the
bull pool, which has carefully nurtured it for
some time past.
To-day's dealings were very small. as seems to
be the case invariably where there Is any i'm
provement in prices. The total sales, listed and
unlisted, to noon were less than one hundred
thousand shares.
The advance which characterized the opening
of the Missouri, Kansas and Texas was partially
lost later, but prices were generally above last
nights cloSings at O'Clock. Lake Shore was an
exception. The influence of foreign buying was
shown by advances in Louisville and Nashville.
Tennessee coal and iron was no longer factor
in the Missouri, Kansas and Texas prices, for
this stock averaged at about last nights closing
figures.
a new reason for the decline of yes
terday was given. 1t was announced
that Mr.. IHman would file a cross bill in connec-
ton with the suit brought against him and 9TH
ers by President Pratt. 1t is said that Mr.. In
man will attempt to force the Tennessee coal and
iron company to return to him and his friends
the Pratt property and the Ensley furnaces,
which the officers claim were unloaded upon the
company's directors, and to have the preferred
legal
tors, who bought New England stock month
ago and have been holding it ever since, began TO
let their load go yesterday and threw over good
well supported during the markets recent de-
morali1aUiOn, the support probably coming to
some extent from the Standard oil people. The
Boston bulls on the stock are said to have weak
ened first, operators in that city having bit
heavily in certain incidents of the recent break.
There seems also to have been some idea that
the location OF the Worlds fair in New York
would help.
Two points advanced to explain the decline in
Manhattan elevated stock were the loss of the
World fair to New York and the prospect that
the pending investigation of the company S tax
payments by the municipal authorities will re-
suit IL increased requirements of this account
from the road.
0hicago's enthusiasm over the selection of
tina: city by the house Of FepreSeRaiigg9s
fluctuations in the stock market to-day.
some operators OF InaG CSEteE WIN udu uGSu
bearish switched over to the bull side. at least
for the time being, and bought Western shares
on the heory that those roads would naturally
be benefited If the fair should finally be located
iu the West, and short contracts were on the
same idea in event of the senate concurring ii
the action of the house, the trunk lines would
certainly derive greas advantage, as the bulk of
the European exhibits and passenger would
have TO be transported over those roads, to say
nothing of the large home business that would
also accrue. Still the shares OF these railways
did not participate in the first advance as the
Western orders 10 buy were confined almost ex-
clusively to Changers on which Chicago specu-
lators have of late been very promin-nt on the
short side.