Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-06-14
SPECULATIVE.
London as a Seller Causes Depression in
American StOcks-Cautious Bulls.
The Sum Total Of Dealings Shows Beautifully
Less Each Day-Gold shipped
Abroad.

NEW YORK, June 13.-The money
market is greatly excited to-day, call
loans going up to per cent. as ag ainst
per cent. for last month. The imme-
diate result was an effort to obtain
81 ,000, 200 gold here on special order.
Sterling exchange is still two to three
cents below the gold shipping point, and
the possibility of the transaction referred
to depended on a technical ruling as TO
the question of premium on assay office
rs. At last accounts this point was not
decided by the treasury authorities.
Intlmations that the Atchison negotia-
ton with the Mexican government settle
ment of the Sonora subsidy, which will
be important, as that line has been
operated ever since opened at considers-
Bile loss to the Atchison.
Special to the Gazette.
NEW YORK. June l3.-Now that En-
glishmen have for the moment Withdrawn
their support from this market, we on
this side begin to comprehend how
important a factor London has been
in the recent rise in stocks. London
has for the past few days been selling,
and the effect has been to kill our own
market for stocks. Every one now
is saying that if London would
only turn about and buy, our market
would go up with a rush. Until London
does take hold bull operators on this side
are cautious. London cabled quotations
for Americans were nearly all better this
morning, but in most instances prices
were not up to our own strong closing.
London had some selling orders in our
market at the opening, also under these
circumstances, our early market was
neither strong nor an active
one. Although the advances of
last night were fairly we'll
sustained, some stocks were very
strong indeed. Sugar, on the announce
ment that 21@ per cent. dividend will
be paid in July, went up above IS, which
has been the sticking point of late.
Oregon and Transcontinental more
than recovered from the effects of the re-
cent bear raid, but fell of later.
Richmond Terminal disappointed many
of its friends by going off after its little
squirt of yesterday. This stock has acted
in the same way many
times before, but its admirers
are of the steadfast and
ever hopeful character, and can always
look beyond the gloomy present to a
oloudless hereafter.
The understanding on the street this
morning was that Baltimore and Ohio
stock purchased by the syndicate in
which are q group of financiers promi-
nent in the management of the Rich
mond Terminal are represented, will be
offered to the Richmond Terminal COM
pany. If so. there is not a great deal of
doubt that it will be accepted, such is
the influence of the group of financiers
upon the Richmond Terminal manage
ment. One point seems to have been i'm
perfectly understood in the street. The
syndicate does not by any means control
the Baltimore and Ohio deal. It only
obtains a block of stock, which may
have a representation in the board of di-
rectors. 1t is understood also that the
syndicate and Garrett interests will work
in harmony. A dispatch from Phila-
delphia this morning caused considerable
comment. 1t asserted that the syndi-
cate was working in the interest
of the old Garrett party, rep
by President Mayer. 1t
did, however, deny that other
interests were represented in the sYndi-
cate. The exact extent of interest of
the Richmond Terminal managers in the
syndicate is something which cannot yet
be made public. The recent buying of
Reading is thought by some to have been
for the same party. The possible bene-
fits to accrue to the Reading through the
deal, however, constitutes a good ex-
PLANTATION for the buying of the stock.
The stock market weakened percepti-
bly, after fair amount of early strength.
Declines were general throughout the
list. The sum total dealings growing
smaller every day. To-day's total sales
were the smallest for months.
Columbus and Hooking Coal and Iron
was unusually active on the announce
ment of the privileges for subscribing to
preferred stock. The conditions did not
improve in the last hours. Prices dragged
along near the bottom figures to the
close.
A report that 81 900 900 in gold was to
be shipped abroad increased the general |
feeling of depression, although a good |
leal of gold could be shipped away be- |
fore the money market would become |
1t was reported that Norfolk and |
Western had purchased the Scioto Valley |
,oad. The 81, 900 200 in gold was a |
special shipment to the Continent, and |
lot an exchange operation.
The rate of exchange Is not within l |
per cent. of the exporting point, and |
.o-day the market was heavier than it |
has been.
The export of bonds to the other side |
3 more than counterbalancing the sales |
If stocks by London.