Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-05-20
SPECULATIVE.
Bulls Awaiting Easier Money and the
Settlement of Western Matters.
Probable Contest for Control in Pacific Mail
Has Its Eject on the Street-Peculi-
arities of Dealings.
Special to the Gazette.

Special to the Gazette.
New YORK, May 19,-Financial conditions
were not materially different this morning fl ON
those of the latter part OF last week. The
fact that to-day was the time set by the presi-
dents of Western roads for the beginning of an
of strict adherence to the established freight
schedule directed extra attention to that
class of securities. Further than that the
situation was unchanged and the course
of values depended almost entirely on the
actions of various pools on the one hand and
of professional traders on the other. If pool
manipulators were aggressive, stocks would go
up; if professional bears were rampant stocks
would go down. The stock market opened fairly
strong, but did not hold up well, and there was
an absence of any strong force in the direction
of higher prices. Bull pools men back Of the big
deals, which we are told are now pending
seem to pre- fer to wait until the money situation
is better, and if possible the Western situation
as well. Consequently the market was at the
mercy of traders working for reaction, and
generally lower prices and less activity prevailed
in the morning. hours. Sales could only be
made at concession from market prices, with the
exception OF few stocks. Reading was leader
in activity, and was strong feature
of the market. Oregon Transcontinental
and sugar also active
and higher. while Atchison was sold down by
the men, who think it has been boosted up too
high. Pacific mail was not active, but was
strong. The revival of the old report of a con-
test for control at the election, which takes
place on May Is, was partially responsible for
a contest for control, although Mr.. Willard de-
MED the story in so far as his name is connected
with it. He has not bought a share of stock he
says, nor does he intend to. The books
of the company closed at II O'Clock to- day.
There was some hustling on the part of borrow
ers, who bid a small premium this morning, for
the use of stock in order that they might get it
transferred before the books closed. Northern
Pacific stocks profted by the report. and also by
the rumor that beginning the next quarter the
dividend rate on preferred win be
per cent. 1t was further said that the
company would offer to its preferred
stockholders bond at IS to pay the dividend
promised at the time when the money for the
dividend was used for improvements. Colorado
coal and Citizens gas Of Brooklyn were among
the favorite specislties; the latter's recent ad-
vance is due to purchases by New York in
terests. which have gone into the reorganized
directory. New methods for making gas were
recited as reasons for the increase in value. In
the afternoon prices improved slightly.
Texas and Pacific securities advanced sharply
active buying. Money worked easier to day,
although it was at time as high rs per
cent. Offerings were abundant enough to bring
the rate down to per cent. at the close. The
light trading to-day helped money rates also.
Funds are now coming from the West at very
high rates of exchange, as Chicago, st. Louis
and other points testify. Although the sub
treasury is still taking money from us, it is
thought there will soon be enough to transact
all business without friction.