Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-05-08
SPECULATIVE.
The Sudden Jump in Money Rates
Helps to Bear the Stock Market.
Encouraging Reports from the west-COttOn
OH Securities About the Only Strong
Feature of the Day.
Special to the Gazette.

Special to the Gazette.
NEW YORK, May 7.-Somebody cabled over to
London last night that the silver bill had been
killed, consequently American securities were
sold down on the London stock exchange this
morning and London sent big batch
OF selling orders over mere, hence our
morning. Another thing which helped the re-
actionists was the state Of the money market.
me sudden Jump OF money fates 70 ten per cent.
nently the fact that the sudden great increase
in activity in the stock market has strained the
present stock of money available for call loans.
No uneasiuess is felt for the future. however, on
this score, There is plenty OF money lying
about which will pour into Wall street If there is
orders were chiefly in st. Paul, Louisville, Erie,
Atchison and Oregon and Transcontinental, but
nearly everything on the list declined.
Chicago Gas and Union Pacific were extern
sively sold, the former, apparently. on realiza-
tions, the latter on hammering by the bears.
About the only strong feature of the Missouri,
Kansas and Texas was the group OF cotton oil
securities, which are being pushed up very ener-
getically by their friends.
New England was weak, in spite OF the report
for the quarter ending March 81, which showed
an increase of sol. 100 in the net earnings.
Reports from the West were encouraging, al
though experience teaches us to beware OF their
trustwortD mess. 1t was stated that President
Hill had agreed to apply local rates from st.
Paul to the Missouri river, thereby doing away
rates, such as it was feared would follow his cut
of rates from New York to st. Paul.
Two things were reported this morning which
were hailed by far-seeng thinking men as
signs of hope for the future. although their
probable effects are of s too deep-lying nature
to influence the superficial operations Of the
boardroom traders. One was the seemingly
satisfactory settlement of the labor troubles
in Chicago. The other was the conservative
address OF the Emperor William at the opening
OF the reichstag. In his carefully weighed utter
ances on the labor question, and his unmistak-
able avowal OF peace policy as regards foreign
nations, we can find no trace of hot blooded i'm
petuosity and youthful desire for triumphs of
war, fears of which but short time ago caused
fall in the values of securities in every part of
the civilized world.
The report of Lake Shore and Michigan South
ern for the year ending December 81, 1882 SUBJ
gross earnings for 1883 were the largest in
the company history. The operating expenses
increased more than the gross earnings. leaving
a decrease of $3.50, oil in the net earnings.
Through the reduction of fixed charges,
the surplus earnings, after the payment of
per cent. dividends, show an increase
OF sos. al over the surplus earnings
of 1888. The earnings per share of the stocks
were $3.50, against S629 in 1888. All betterments
for the past six months have been charged to
the operating expenses or income account. The
passenger business and freight business both are
the largest in the history of the company.
Altogether the report is very encouraging one,
and is an important stone added TO the founda-
ton OF our railroad prosperity.
Conditions we're not substantially changed in
the last hours of business except that
a few stocks, such Lake Shore,
and Northern Pacific and Chicago, Burlington
and Quincy advanced. The general tone was
better.
Jugar and Chicago gas were strong features
among trusts.