Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-09-03
SPECULATIVE.
Cotton Oil Securities Show Material Ad-
vances-Enect OF the Strike.
Under London's Lead the Speculative Market
Opened at Better Figures Than
Saturdays Close.
Special to the Gaze tie.


NEW YORK, Sept. 2.-All classes of
American cotton oil securities advanced
to-day and they led the market in
strength and were much more actively
dealt in than usual. The reason for the
advance was found in the publication OF
an official statement of the company g
floating debt. The statement laced the
floating debt at "a 900, 900, against which
there are Offsets of 50, 100 900, leaving
the company with what is practically
cash balance of 81 500 900. The offsets
include: cash assets, $500, 900; bills re-
cievable, 81 100, 900; marketable pro-
ducts, S4, 100, coo, and stocks costing
81 600, 900. This statement does
not include mills or real estate.
There was q break in the New York
cotton market this morning, caused by
the report that Steenstrand, the great
Liverpool cotton dealer, had failed. The
failure was q bad one, caused by recent
declines in spot and early delivery cot
ton. Steenstrand was reported to be
worth from $3.50 900 to 81 200 900. He
was carrying from 100, 900 TO l25. 200
bRlesof near options.
After the first break in New York the
market was steady with q rising ten
dency.
The striking railroad employees of the
New York Central road have by the
paralysis of freight service caused an ad-
vance from to 2 TO 3 cents q pound
in price of meat in this city and at other
stations along the line of the Central
road. Cattle on hoof are shipped over
the road in great numbers, but since the
commencement of the strike Western
dealers have been disinclined to ship
livestock to the market and risk he
stalliug of the train with its disastrous
consequences. This OF course, created a
scarcity of all kinds of meat, and the
advance which necessarily followed has
affected the families of the striker, his
friends aud enemies alike. Dressed beef
is now arriving through other channels,
but the butcher has with the aid of
strikers boosted price, and reports from
the city sbattoirs and dressed beef sta
tons to-day indicate that retail price
will not drop for some days at least.
Under London's lead the opening
prices for nearly everything on the list
were materially higher than Saturdays
figures. Louisville and Nashville 3 state
ment of earnings for July showed a net
decrease of S2l 40, and this stock con-
sequently failed to keep pace with ths
list in its upward march. st. Paul and
Northwestern were active. London
orders in our market were comparatively
numerous. Lead trusts were strong also.
Notwithstanding the advance in prices,
trading was dull. 1t was reported that
August earnings for the Rock Island road
will show decrease owing to the fine
showing of last year. The weakness OF
this stock was the cause OF much COM
Jt Il
the loves. price this year, and Il per
cent, below the lowest price of Septem-
Der, 1889. 1t shows little recuperative
power under influence of the raid on
Rock Island, and the slight monetary
stringency which sent rates up to per
cent. The market was weaker in the
last hours, closing at nearly the lowest
prices, but above Saturdays figures. 1t
was announced that 10, 900 shares of
sugar trust certificates have been de-
posted with the Central trust company.