Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-09-20
A STRONG MARKET.
Jay Gould Takes New Interest in
the Speculative Market.
He Thinks the Time Ripe for Bull
Movement in Stocks-All Glasses
Of Securities Rising.
Money PIentiful-The Street Ready to Meet
Demands from the West-What Causes
Present High Prices.
JAY GoULp's RosEArE VIEWS.


Special to the Gazette.
Nav YORK, Sept. 19.-The market has
shown strength, aud the new element
has had weight. There are indications
that Gould is either taking an interest III
the market or Is encouraging other peo-
pie to do so. George Gould began some
days ago advising the purchase of Mis-
souri, Pacific. The genuineness of the
advance is shown by the fact that Mis-
souri, Pacific was stubborn when other
stocks were weak, and has had
strong rally since. One operator
largely Interested in Gould stocks said
last night: "Gould said Wednesday
that he thought the way was at last clear
for man to come into Wall street and
undertake to carry on bull movement
in stocks. l believe you VI i'll see mate
rial rise in Missouri Pacific. Western
Union, Texas and Pacific and Wabash. -
TEXAS PACIFIC BOOMING.
There has been good buying of Texas
Pacific securities lately on the turn of
earnings For several weeks the earn
ings showed a steady decrease, but be-
ginning with the first week of this month
they have increased. The large increase
of S29 600 for the second week reported
yesterday brought buying orders from
friends of the property who say that they
have reasons to believe that there will be
no further decrease this year. The
movement of cotton is causing the pres
ent increase.
There was vigor and strength in this
mornings market. Stocks advanced
easily. The rise in Missouri Pacific was
due to certain Information which has
been iudustriously spread about the
street several days past. Strangely
synonymous were these flying rumors
and the many published interviews with
Mr.. Gould, in which that guileless gen.
tleman struggles with the inadequacy of
mere words to express.
HIS RoSEATE SENTIMENTS.
The market may be on the eve of an up
ward movement, but if so Mr.. Gould g
buIlish utterances will not have been the
sole cause Mr.. Gould is said to have
been the active agent in the formation of
the Southwestern railroad and steam
ship ASSOCIATION just announced which
embrace all lines south of Kansas City
and west of the Missouri.
Money was of course very plentiful.
Stocks loaned at and 4 per cent. ex-
ceptiug Illinois Central, which in conse-
quence of the slow selling il cident to the
expected row ut the annual meeting was
loaning fiat.
The recent heavy treasury payments
for bonds purchased coming in the latter
half of the week will be only partially
reflected in to-morrow's bank state
ment, but the sub-treasuTy advances to
the banks iu the early part of the week
- rht fininr To Ion
the interior movement of money and to
make
FAVORABLE STATEMENT.
Chicago exchange Is now at fifty cents
discount, Indicating n cessation OF the
demand for money in the West. AS an
argument in favor of high prices. it
should be remembered that large por-
ton of the money received for bonds
sold to the government will probably be
invested in securities dealt on the stock
exchange. These investments will
be, made soon, as the own
ers of the money are not
apt to leave it in the banks very long.
The advances in Vanderbilt stocks are by
many attributed in part of this cause.
This showed mean perceptible advance
in prices irrespective of the good effects
produced directly by easier money.
The important net advances we're 81
in sugar trusts, pa in Consolidated gas,
2 in Michigan Central, Great Northern
preferred and Tennessee coal; Ia in Chi
cago gas; l y in Manhattan, Oregon i'm
provement, Chicago and Eastern Illi-
nois, Lake Erie aud Western preferred,
and Mobile and Ohio; d in Missouri Pa
cific, Cleveland, Columb bus, Cincinnati
and St. Louis, and Wheeling and Lake
Erie; IL in Chesapeake and Ohio
first preferred, St. Paul, Colorado
coal, Delaware and Hudson, Jersey
Central, Union Pacific, Wisconsin Gen.
trail and Rio Grande Western, common
and preferred; Is in Atchison, Canadian
Pacific, Hooking Valley, Louisville and
Nashville, Western Union and Northern
Pacific preferred; q in Northwest aad
Reading; q in Lackawsna, Lake Shore
and North American.
PAYING FOR SILVER BULLION.
WASHINGTON, sept. 19.-Acting |
Secretary Batcheller to-day sent to the |
senate communication in response to |
Senator Plumb's resolution of yesterday |
as to the manner of paying for silver bull |
lion. He says that checks drawn in |
payment of silver bullion pass |
the New York clearing house the |
same as other checks drawn on the |
treasurer at New York. 1t was |
he says, at the time the law
took effect to issue notes
of large denomination in pay
ment for silver purchases,
but they will be replaced by smaller
notos. He states that there has been no
demand of any magnitude upon the
treasury for the redemption of these
notes in gold coin.