Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-06-07
SPECULATIVE.
Spectators Enthused Over the Prospect
of an Early Silver Bill.
Sugar Refineries Certificates on Change Bask'
ing IN the Sunlight of Prosperity
Bull and Be Tactics.
snecial to the Gazette.

special to the Gazette.
NEW YORK, June G.-The aspect OF thing
this morning was similar to that OF six weeks or
more ago, when silver was the watchword on
every tongue, and prices were rising of their
own accord with buoyancy born of the belief
that there would be such an imitation of the
currency as would cause a real increase in prices
of stocks as we'll as everything else. The pas
sage Of the silver bill is now believed
to be q matter of days, not of
months, Wall street now seems to Drecede,
not to follow, events and 1t proposes to put up
prices of stocks at once to figures to which they
would eventually attain in a general imitation.
Opening prices seem to rise with effort, ana ad-
vances were general. This is in contradistinc-
ton from the recent more or less labored eleva-
ton OF one groupe after another. Vanderbilt's,
were perhaps, favorites, but they rose of their
own accord. The Michigan Central rise was
accompanied by the renewal Of the
per cent. dividend payer. As for
every body has wondered for some time why it
did not go up to place which belongs to it, as q
4per cent dividend payer earning per cent.
Sugar refineries certificates now bask in the
sunlight of prosperity, SO dazzling bright
that 1t is almost incredible that week
ago, they were plunging wildly downward
besr tactics could lend. The point
used to advance them is the prosperous condi-
ton of the sugar trade. HOW little That mas TO
do with the fluctuations of the certificates is ably
demonstrated by the fact that the condition of
trade a week ago was just as promising as IL is
at present. Sugar makers are not fortunately
situated for bear purposes. They have legal
difficulties of trust, an invaluable ally, which
they will be 10th to lose. For bull purposes
they, have actual profits of trust,
which beyond doubt are great
at nearly all times. These two cards they play
off against one another as suits their ends. The
last hour of the day was an exciting one. Sugar
certificates monopoliZed the market entirely and
fuctuated madly. Prices went up to SIC, then
a sudden attack was made which sent it tum-
bling down to 75Izc. Shortly before the close
many stop orders were unesrthed. For the last
ten minutes prices jumped about feverishly, ,
closing at 77%c. Fresh patches of innocents had
been caught monkeying with the buzz-saw, and
manipulations were SO much the richer.
The general market was demoraliZed, but
prices did not e. off greatly. There were evil
dences that London is waking up to the occa-
sion. Bar silver advanced sharply. Private
cables state that no cash silver was in the mar
were from q ID to penny above the quoted price.
Indian rupee bonds were considerably
higher in London. on the prospect Of
increase in the value Of silver which is to follow
Americans were higher, although buying orders
in our market were not heavy. In fact, trading
on our stock exchange was dull, duller than it
has been for weeks. Sugar transactions consti-
tuted nearly one-third OF the whole deal
ings notwithstanding the confidence in
the law makers. The days market was
a willing one, and dizziness came after the first
hour, and falling off from early advances OF
the day. Citizens gas OF Brooklyn was strong
and active feature. Distillers and cattle-feed-
ers company shares continued strong. The
sturdy way in which these securities stood the
attack on the industrial securities last week
gave rise to considerable favorable comment.
The Oregon Transcontinentaf rise still con-