Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-06-13
SPECULATIVE.
London a Stubborn Foe With Which
high Priced Advocates Had
TO Wrestle.
Former Statement Concerning the Richmond
Terminal and the Baltimore and
Ohio Confirmed.
Special to the Gazette.

Special to the Gazette.
NEW YORK, June 12.-The stock market was in
very bad shape this morning; anyone who de-
MED this was blinded by prejudice and con-
founded wishes with facts. London was perhaps
the worst enemy which the advocates
of higher prices had TO face. Eng
lishmen were selling our securities in
London and here at a tremendous rate.
Cable quotations this morning were just lit
tie appalling, every stock showed declines,
many over per cent. Lake Shore. Louisville
and Nashville, Union Pacific and Atchison were
the weakest. Foreigners appeared to think that
the bottom had dropped out of everything over
here. At least they were doing their best to
make it drop out. The rumored failure of the
London house added to the desire to sell in
London, but when the facts were reported
tiles and that the matter had
been arranged a better feeling prevailed
and London closings for Americans were gener-
ally higher than opening. OF course our market
opened weak. Declines were general, Chicago gas
being the most prominent exception. Oregon
and Transcontinental was especially weak.
Bears made portion of the plan for the liQuida-
ton. published this morning, an excuse for
an attack, although no logical reason for this
was apparent. A number OF stop orders were
unearthed by the raiders. Atchison and st. Paul
were among the noticeably weak stocks,
but at low figures buyers were plenty for these,
as well as a number of other securities. Skeptics
silver legislation are increasing. A little
misfortune will serve to turn the tickle minds of
Wall street speculators. The price of silver
bullion certificates reflected this change of SEN
tment. Still, great majority feel cert ain that
the silver bill will pass because they do not be-
heve that congress will dare adjourn without
taxing action this subject now that the at
tention Of the whole country has been directed
ITO it. New England and Lackawanna were
haTe BEEN of iate Both Were weaE
Northern Pacific preferred was also point of
attack. The Missouri, Kansas and Texas was
weak and duh all morning, but after the noon
hour there was slight improvement in prices,
which led the more enthusiastic to believe that
the lowest figures had been reached. The state
ment published in these dispatches several days
ago 10 the effect that persons interested in Rich
mond Terminal were behind the syndicate buy
ing the stock of the Baltimore and Ohio road
owned by the city of Baltimore has been authori-
tatively confirmed by the president of the for
mer road. According to dispatches from Balt-
more it has not yet been determined whether
Richmond Terminal as corporation shall be in
terested or whether the persons who figure in the
control of the Richmond Terminal shall hold
Baltimore and Ohio stock individuals. The
effect so Tar the public is concerned will be
the same in either event, namely a coalition in
the management and traffic arrangements The
Richmond Terminal has all along felt that better
New York connections were needed than Penn
sylvania affords, and the Baltimore and Ohio,
BEADING and Jersey Central will, it is thought
supply the necessity. Concerning the
Readings connection with the deal, many
mysterious hints have been INDUCED in, but
there is nothing yet to warrant the assump-
ton that the Reading has any direct finan-
cial interest in tn eBaltimore and Ohio purchase.
The matter is, however, one of great moment to
the heaQlnB rOau, lndSinuCn as II
goes through as contemplated the Richmond
Terminals New York business will be diverted
from the Pennsylvania to the Balti-
more and Ohio, Reading and Jersey
Central. There is room for con-
siderable doubt that the Richmond Terminal
corporation will take the stock. AS was init
mated in these kilograms when the subject
discussed BEFORE the Richmond Terminal, after
its recent attempt at floating securities is hardly
in the best OF shape for purchasing the stock,
and is issuing new securities in payment
thereof. 1t is understood that the subject will
be discussed at q meeting of the Richmond
Terminal directors to be held soon in this city.
Richmond Terminal, Reading and Jersey Cen
trail all reflected the facts printed above in to-
DAYS market The tone OF the market i'm
proved very decidedly in the last hours of bust
ness, and Richmond Terminal was especially
prominent, but nearly all the list showed advance
and many closings were above last nights fig
ures. The important net advances for the day
IL in Jersey Central and Richmond Ter
minal, 1ss in Richmond Terminal preferred, Ia
in Chicago gas, in sugar trust, with the bal
ance of the list, as a rule, up lad5s per cent.
Silver bullion certificates closed "a lower at
SI.O4s4.