Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-08-19
SPECULATIVE.
The Evil Effects of Saturdays UnfavOr-
able Bank Statement Continue.
The Speculative Market Developed Weak
Tone and was Extremely Brarish-SIlVer
Bullion and Its Price.
Special TO the Gazette.

| special TO the Gazette.
NEW YORK, Aug. 1S.-Nearly ont
million ounces of silver were traded II
this morning on the stock EXCHANGE al
an advance from 81 1875 to 81 1873. The
fact that to-day is purchasing day for
the government renders the advance es-
pecially interesting, as the action of the
secretary of the treasury is likely to have
sharp influence on the immediate future
of the bullion. London was quoted dur
ing the morning at sd. The largest Of
fers to the government to-day from this
city were known to have been made al
81 1874 on the ground that offers above
the market were accepted last Friday
Messrs. Moore s. schley and Kohn, Hop
per s. Co. were heavy buyers of bullion
to-day, as well as regular silver brokers
There were offered to the treasury to-day
$40 200 ounces of silver. The amount
purchased was 300 900 ounces; 40, roo
ounces were accepted at 81 1872; 90 GOO
ounces at 81 1917, and 20 200 ounces at
81 1881.
The unfsvorable bank statement which
was made public just before the close OF
the market on Saturday, tended TO in
crease uneasiness in regard to the None
tary situation, and encouraging bears in
the hope of successfully recovering q
portion of their lines of shorts put out at
consid erably lower prices than those now
current. The market developed weak
tone. The trading element was very
bearish on the unfavorable statement,
and a variety of strike rumors and high
rates for money. Money was bid up to
l6 per cent. but closed at per cent.
London was also moderate seller
of its specialties in this market.
Although the London market for
Americans was reported strong and
higher. Declines extended to A91 per
cent in Changers and Southwesterns and
1@l4 in coal shares. Western Union
declined u and in some of the special
ties declines extending to 70 were re-
corded. Mexican Central was excep-
tionally strong and active on the advance
in silver, in which the road derives its
income. The market continued dull
and heavy during the afternoon, closing
at small recovery from the lowest price
in same cases. The final prices as a
rule were A@1A below Saturdays
closing. Trading in silver certificates
continued active, 224 600 ounces chang
ing hands, and the price made further
advance toward the goal of the silver
mems ambition to q parity with gold.
Highest price recorded was l.20L
against 1875 at the close Saturday. The
London price for silver was also up, prI-
vate cables reporting an Advance
of LA to sgd. Buckeye pipe line
certificates were regularly traded in on
the stock exchange for the first time
today. After selling up to 423a the
price reacted to 39%. Sugar trust GER
tihcates were dull and weak until late
dealings, when they became strong,
closing at an advance of 81 from Satur-
days price. The important changes for
the day were: Declines-Atchlson, "a;
Chicago, Cincinnati, Cleveland and st.
Louis, "a Burlington and Quincy, "a;
Chicago gas, /; St. Paul, Il; St. Paul
preferred, ~; Northwest, Ia; Della
ware, Lackawanna and Western, "a;
Erie, g; Lake Shore, ~; Lake Erie and
Western, "a; Lead trusts, "a; Louisville
and Nashville, L; Missouri Pacific, q;
New York Central, y; New England,
7a; Northern Pacific preferred, l; Ore
gon Transcontinental, "a; Reading, q;
Southern Pacific, =; Texas Pacific, y;
Union Pacific; "a; Wabash preferred,
q; Wheeling and Lake Erie preferred.
q; Canadian Pacific, ~. Advances
Mexican Central, u; Quicksilver, pre-
ferred, /; silver certificates, 356; sugar
trusts, 3si lead trusts, "a.