Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-05-06
SPECULATIVE.
London Making Strenuous Efforts to
Gobble Up American Securities.
Much Interest Centers In the Presidents,
Meeting In Chicago-Speculation on
Wall Street is Lively.
Special to the Gazette.

Special to the Gazette.
New YORK, May 5.-Wsll street, p.
m.-London took fresh hold this after
noon and started in to buy American Sc
curities. Partly on account of this and
partly on general principles our stock
market opened up intent, to all appear
ance, on another lively week. The most
remarkable feature of the present situa-
ton is the efficiency of bad news to
check the upward movement. Unfavor-
able developments, which would seem
serious enough to create CONSERVATION
among the hackers of some lines of Sc
curities, at least, are airily tossed aside
as Of no account. The last example is in
case of the Changers. The news last
week of President Hills fresh evidences
of belliRerency caused only slight fall
ing off in Granger properties, after which
they resumed an upward course with
fresh vigor. They were among the
strong features of to-day's market.
London and Chicago did large part of
the buying to-day and an increase IN
commission orders was reported.
st. Paul and Atchison were the most
demanded, and on large buying prices of
both advanced materially. Concerning
the latter the impression is growing that
fair interest on incomes for the first fiscal
year under the reorganization plan will
have been earned, and will be paid. One
estimate places the interest earned at 216
per cent. on all incomes, or about 8 per
cent. on those subject to interest this
year.
The rise in Missouri, Kansas and Texas
securities is founded on earnings as
stated in the report just issued, and has
many points in similarity with the rise in
Atchison. In the case of the Missouri,
Kansas and Texas, however, the activity
has as yet been confined to bonds. AL
though the stock is strengthening, there
is much talk about liquidation
of Oregon Transcontinental. 1t is re-
ported that four presidents of the New
York trust company will appraise the
assets. The stock holders may then take
cash for their stock at the appraised
value or stock in the new campany,
Mr.. Willard and his followers own about
IS per cent. of the stock of the present
company. The new concern will be a
big banking institution, and q consider
able amount of business is at once as
sured to it in connection with the
Northern Pacific and Willard g electric
schemes. The stock was very strong and
active to-day, and much interest was
taken in the meeting of presidents at
Chicago relative to the reorganization of
the Interstate association. But little
news was received from thers7 TtfTSng
business hours.
Lackawanna, which has6een compar-
atively inactive and we9k for the past ]
few days, has 8Deen taken
up again by friends, ,sAnd
was to-day forced nto9eAoefsfty at
advanced prices. Reading was also -aes
tive. Cotton oil securities saFefe NJ
yanced by their friends. Silver csffffi-
Gates sold up to 81 .05. Trading Bas I'M 4
wontedly active, and Wall street was 81;
very busy place indeed.
The disappearance of Washington
QuInlan, well-known operator, Gre
ated considerable excitement. He was
known to be heavily short of stocks. 1t
is said that 10, 200 shares. 1000 of which
we're Chicago, Burlington and Quincy,
'9ere bought in for his account.