Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-05-25
SPECULATIVE.
The Bulls and Bears Have a General
Settle and See-Saw Prices.
The Increase in Surplus Reserves in the Bank
Statement Carry Prices Up. and the
Close is at Best Prices.
special TO the Gazette.


NEW YORK. May 24.-The announcement OF
the terms of the Atchison's purchase of the st.
Louis and San Francisco this morning brought
out lot of selling orders in securities of corpo-
rations concerned, and from bulls who wished
20 realize profits. Traders took advantage of
this and raided the market. The fact that to
day was holiday in London aided them somewhat
because London has been buying Atchison for
the past few days. Atchison and sugar certif =
Gates suffered most from the raid. Dealing in
the latter was feverish and exciting, and bears
forced prices down 2I5 points in a moment, and
81 points altogether. St. Paul was stithy sup
ported by the bulls. Distillers' and cattle feed
ers' company securities were remarkably strong,
and prices were up in grasshopper-like bounds.
The price OF spirits of alcohol was reported to
have advanced 7cents per gallon. There were
also unRuthenticated reports that dlstlllers and
cattle feeders and citizens and gas of Brooklyn
will pay increased dividends. The market
gradually improved as they went on, the report
having gone abroad that the bank statement
would show considerable increase in surplus
reserves. and when it appeared showing an un-
expectedly large increase OF nearly 81, 10000,
prices jumped up and the market closed active
and lusty at nearly the best prices of the day.
Atchison reported an increase OF earnings OF
Sl64, $40 for the second week IN May, and OF
$50, 0Z6 for two weeks in May.
For the convenience of readers we repeat the
terms of the Atchison purchase Of the St Louis
and San Francisco. The capital stock of the
St. Louis and San Francisco company consists
of $50 600 shares of first preferred, 10 coo shares
of preferred, and l55, OJ0 snares OF common, OF
which s647 shares are held in the treasury. In
the purchase concluded, first preferred stock
is not disturbed, and holders of pre-
ferred stock receive one and three-eighths
shares of the Atchison company's stock
for one share of the St. Louis and San Fran
cisco railway company's stock, and holders OF
common stock receive three quarters of one
share of Atchison stock for one share OF st.
Louis and San Fracisco railway company. The
Atchison company has issued new stock worth
at par value s27 OCO 600; out of this SIG, 235 175
par will have been delivered for the ST. Louis
and San Francisco company's stock and
equities.
As compared with week ago prices are irreg-
ular.y changed. Among the most important
changes were: Observation-Disclosures rs, st.
Paul Z, Rock Island Is, Union Pacific "a, Texas
Pacific 81, Oregon Transcontinental "a, Erie Is,
wheeling and Lake Erie preferred 194. Declined
-Atchison q, Missouri Pacific "a, Burlington
and Quincy q, Lackawanna 2, Jersey Central
2, Reading "a, Delaware and Hudson q, Pull
man ~, Tennessee Coal PA, Cotton Oil 15s, lead
Trust 23s, Chicago Gas Is. Sugar trusts, after
selling at So and 81 during tho week, closed I'M
changed at SSS4.