Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-03-01
SPECULATIVE.
How Colorado Coal Has TumbIed in the
Past Two Weeks-Market Inert.
Speculation in Regard to tie Complexion Of
To-Day's Bank STANDARDIZATION Of
Residing Stock.
sreeisIt TO the Gazette.

/
! NEW YORK, Feb. 23.-The opinion
seemed general to-day that to- morrow Is
! bank statement would show q further
decrease on the surplus reserves. 1t is
said that the sub-treasury has this week
| absorbed a large amount of money
ana that considerable sum
mas gone TO the interior.
There seems 20 be ground for thinking
that there has been complimentary in
fux to Offset this Everything points
this way. AS for loans, it would SEEM
that the banks have already expanded
them as much as is safe, and it seems not
unreasonable to think that they may not
show any great increase The expecta-
tion OF an unf6vOrable statement was in-
cidentally reflected in the market, and
probably has been for the past few
days. This mornings market was the
counterpart of its tame predecessors. The
list was substantially at yesterdays fig
ures and Was as soft as clay In . potter
hand.
Union Pacific and sugar trust were
couspiciously weak features once more.
Trading was even duller than usual.
Pacific Mail was slightly agItated on ac-
count of the action taken yes
terday, looking TO a traffic connection
between the steamships and the North
ern Pacific road at Tacoma. The effort
to-day was TO raise the price OF the
stock, but it is stated the hostile ships
will be taken by the Central Pacific and
Union Pacific interests. If the alliance
is made the Southern Transcontinental
1gFN.a
monthly subsidy now paid by them. Il
is understood that Mr. Wizard seeks the
connection, and that the Gonld interests
are not unfavorably disposed If the thing
can he arranged.
Two weeks ago yesterday Colorado coal
sold above 80, to-day it sold as low as
42I and was unwontedly active. The
decline has been gradual. and Is partial
~ due to the general weakness of the
market, but mainly TO an increasing
number OF rumors about the bad
condition OF the property. To-day
the trustee under the first consolidated
mortgage in IN interview published
in the Financial Journal makes d num-
Der OF statements about the property
and excuses for Its condition, which are
damaging TO the value of its securities
just in proportion 70 tho evident attempts
of the trustee to make it always as favor
able as possible.
Tennessee coal was also weak.
Burlington and Quincy had little
squirt owing 10 the announcement of an
increase OF 1859 ,243 in the January net
earnings.
Northern Pacific preferred was notably
soft.
New England displayed more mystic
rious activity.
The actual rates for foreign exchange
declined again owing to continuance OF
offerings of bankers bills against secu-
rity transactions. Money was at per
cent. during the early hours, but in the
afternoon it rose TO Upper cent.
The speculative position of the Read
ing railroad stock in the market Is a
matter of much Importance TO operators,
who are working for lower prices. The
clique that has sustained the stock, and
that is supposed to hold a controlling in-
terest in its capital, is one of
the most powerful in Wall street, but
the bears seem determined to give
it a rub. Up 70 yesterday they coutented
themselves with talking, but now they
have begun the fight by selling down the
bonds. In this city SI13 900 OF the gen.
eral mortgage As were sold at SO. The
transactions in Newark were also very
large. II is a very cheap way to discredit
q stock by selling down the bonds, and
in the present narrow and restricted
market great effect can be produced bv~l
the expenditure of little ammunition.
So far as can be learned there is no rea-
son for the decline in Reading general |
mortgage bonds.