Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-05-09
SPECULATIVE.
Sugar Trust Certificates the Leaders in
the General Advance of Yesterday.
HUre Favorable View of the Rate Situation
in the West Causes Prices to go
Up All Around.
Special to the Gazette.

Special to the Gazette.
New YORK, May s.-The selling movement il
American securities which was started in Lon
don yesterday continued to-day. This, in con-
nection with the fact that the cable yesterday
was kept hot with assurances that the silver bill
was not dead, but sleeping, would seem to indi-
cate that the selling in London was not due to q
scare, but simply reactionary movement. Our
own market was inclined to weakness in the first
hour, but sitter tone soon began to assert
itself and prices rose steadily up above last
leaders in the advance. The hand over hand
way in which the price climbed up toward par
was inspiring and seemed 10 indicate supreme
confidence on the part Of those who ought to
know best that the sugar sections of the new
tariff bill will be adopted in their present shape
or one equally advantageous 10 the sugar trust
and Instantaneous to its rivals, who now
profit by the Sandwich Island treaty. Among
others interested in the passage of this portion
OF the bill are many men IN the export trade
with sugar-raising countries, who assert that
they now find difficulties in obtaining return
cargoes for their produce-carrying vessels,
which difficulties would be removed u raw su-
gar were admitted free.
A firm looked upon by many IS an authority on
sugar topics. in a recent publication expresses
some bullish views on the trust: It considers
court of appeals may reverse former decisions
adverse to the trust. In case the decisions
are sustained an appeal to the United
taken. 1t asserts that ''refners
VIII go on working somehow and make their 10
Is expected to be adjusted TO fair protection
against German refined sugar, as it ought to be,
and with that point secured the future OF the re-
ning business is assured, and certificates cannot
help advancing to their value as 10 per cent.
dividend security This interesting informa-
ton might be placed in the class Of important,
if true
Chicago gas continues to advance
toward the place where its friends claim it be-
longs as a per cent. dividend payer with good
future prospects. 1t was. second in activity to
sugar trust to-day. A special point in its favor
to-day was the announcement that consumers
OF the gas company have cancelled O,OoU of its
income 5's. The president of the company says
that the interest charges amount to Sl9O, 100 and
the net earnings to S4C0, 600.
Cotton oil curities still advance on reports
that the company is earning per cent. on
preferred and per cent. on common.
National lead also advanced. In the general
list New England was the strongest and most
prominent feature. The report of Michigan
Central showing a net revenue OF $40 per share,
ana surplus of SI3, $50.
In the last hour prices which had fallen off
under q selling movement in sugar, Atchison
and,SeSAafs strengthened amazingly, and the
,alasstTas strong and buoyant at the best prices
'or the day, especially on Western railroadSS4
Burlington and Quincy, and st. Paul common
and preferred were among the most noticeably
strong stocks. more favorable view of the
rate situation in the West was the cause of the
advance.
Special to the Gazette.
NEW YORK, May SIT is calculated that st.
Louis. Arkansas and Texas rs at current prices
are as sure of advance as that which has at
tended Missouri, Kansas and Texas bonds. 1t is
calculated that the new AS will be worth so, the
2's so and preferred stock %. At this rate 5000
as. $3.50 2's and $500 preferred stock would be
worth STOPS, while the bonds are selling around
$94. The traders have raised the point against
the Atchison circular to the shareholders, which
has been sent out by the management urging
deposit of stock for the voting trust. 1t is
probably true that last effort in this direction
is being made but has little prospect of success.
At the Office of Kidder, Peabody & Co. the re-
port could be neither confirmed contra
dicted. The late heavy buying in Wall street
has resulted IN the sending of immense amounts
of American securities to Europe. Kuhn, Loeb
& Co. Monday night mailed 81, SOC, 900 worth OF
bonds, and Kidder, Peabody g. Co. Tuesday
sent package on which the postage alone
amounted to si3. Large blocks of Northern Pa
cifc prefer. ed, and Louisville and Nashville
also shipped to European investors within the
past ten days.
Calvin S. Brice insists he has less interest in
Wall street affairs now than in five years. His
friends assert he is making such prepare ions as
will leave him entirely untangled when he goes
to Washington. Southern stocks, in which
both Brice and President Samuel Thomas have
such large interests, not likely to be made
much of feature for the time being, although
friends of these specialtes say they 5are getting
into trim for sharp advance.