Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-05-13
SPECULATIVE.
The Wisconsin Central's Aesade in Pas
senger Rates MakerTrouble
Much Interest Mantle ed IN tns prono,sa An.
siO-Ameriean IS cOmpsny-PeculI.
aFitisS6f Various Stocks.
ePecTto the Gazette.

|
iaSEw YORK, May 12.-News from Chi
fcago was lugubrious enough to cause a
selling movement in some of the Western
railroad stock this morning. Wisconsin
Central was blamed for the failure of
the general passenger agents to
agree, and it was said that
until this road abandons its
demands for differentials there will be no
peace. Dispatches from the West an
nounced fresh cuts in passenger rates
west of Chicago. 1t was also announced
that traffic managers who were tempted
to prepare a report on the division of
traffic at competitive points had given it
up, ana altogether the outlook was good
enough. The whole Western railroad sit
former dreary, almost hopeless state.
1t is worse than before, because then
there was feeling of confidence that an
effort on the part of the railroad man.
ayers was all that was necessary to re-
store peace. Now the managers have
tried and failed. Still, while
these tidings caused some selling
OF the Western railroad shares,
especially Missouri Pacific, st. Paul,
Burlington ard Rock Island, they failed
to weaken the general market percepti-
bly,. The strong features OF the market
were so very strong that it would have
taken very terrible news indeed to shake
them. Atchison reached higher point
than it has touched siuce last June.
Cleveland, Columbus, Cincinnati and st.
Louis was wonderfully strong and active.
This is partly on general principles, i. g.
the belief that as the Vanderbilt
dividend payers. both preferred and
common, are too low, and partly on the
reports that the road will buy one of its
leased lines at St. Louis, the Alton and
Terre Haute, thereby effecting consid-
cradle saving. Richmond Terminal prof
tied by the vague reports to the effect
that the road will purchase
the Baltimore and Ohio. Texas and
Pacific was strong and active, and
a report of a decrease of SIG, 12I in the
earnings for the first week of May.
Much talk is INDUCED in just now rela-
tive to the big Anglo-American gas COM
pany, which is said to be IN process of
formation. 1t has been stated that the
capital stock will be $25, 900 ,O0G, but
persons more or less interested affirm that
the capital stock will be $50, 900, 900, and
S25, 900 900 has been subscribed abroad
and $50, 200, 900 in this country. The
names of the capitalists who have sub
scribed to the enterprise are well-knoBn
in the financial world. The Chicago
gas company, consolidated gas of New
York and the Laclede gas OF st. Louis
are among the companies which this AN
glo-American or International gas i'm
provement company proposes to absorb.
Strength of stocks of all these corpora
lions for the past few days is proof at
least that some persons believe that the
scheme will go through. There is very
good authority for asserting, however,
that no negotiations have as yet been
made with the gas companies. Gas
stocks were prominent and strong fea-
lures of to-day's speculation. Chicago
gas was the strongest and the
most active feature of the market.
Many became scared in the last hour.
The causes of this scarcity were dis
cussed at length on Saturday. Sufficient
TO say in general terms, 1t Is due to drafts
made by the sub-treasury. The rate
ran up to ~ per cent, and prices fell
off Immediately. Western railroad
shares being the weakest spots
of the list, showed the greatest
dizziness IN Missouri and Pacific. The total
drop from Saturdays closing was per
cent. The stock market closed lower
with the exception of some of the
features of the day, such as Atchison,
Chicago gas and Cleveland, Columbus.
Cincinnati and ST. Louis aud few other
securities, such as sugar
and the Canadian Pacific securities.
Money closed at 10 per cent