Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-03-04
SPECULATIVE.
Western Union Takes q Tumble on the
Prospect OF WanamakeriSm
Prevailing.
Inman and rlatt Bury the Ratchet, although
SOme say 1t Is Only for Market Pur"
pOses-Othpr Tumbl rs.

Special TO the Gazette.
NEW YORK, March 3.-The point on
which Western Union telegraph stock
was offered down to-day was the pros
pect Of congressional enactment of
Wanamaker's plans for the government
leasing OF telegraph lines from the
Western Union company and the send
ing of messages between certain post
office centers at low rates. The Western
Union people speak indiferently Of the
scheme and contend that no plan by
which the government fixes its own rem
tai rates would be constitutional, where
as any other would be absurd and could
on tie board that MIR. Gould
and that certain bear operators
ever, that Gould commonly advances in
a stock before be sells it and no such
movement has taken place in Western
Union.
MIR. Inman says the abandonment OF
the Tennessee coal suit against him with
the agreement for each to pay its own
costs is entirely satisfactory to him. Mr..
Plat says that the matter will not be
definitely concluded until the company 3
directors meet in April. Some OF Plat 8
friends insinuate that the agreement is
not final and was temporarily patched up
only for market purposes. The pToba-
bility is, however, that Inman will never
hear from It again. Regarding
the the rival coal and iron COM
pany recently established by the Inman
interest in Tennessee, 1nman says that
there is room enough for all that no un-
pleasant results will follow the rise of new
concerns.
The market opened strong and ad-
vanced during the first half hour. Sell
ing orders were then given in consider
able quantities, resulting in break in
sugar and decline in Western Union,
Missouri Pacific aud New England.
Other stocks remained strong. Union
Pacific, Rock Island and Louisville ap-
reared to be bought on the weakness in
the Gould stocks.
The de, line in Western Union was due
to the steps in congress toward the estab-
lishment of postal telegraph. 1t is be-
lieved that bill authorizing the post
master-geueral to lease wires will be re-
ported favorably. There is some talk in
congress in regard to the adoption OF
printing telegraph device, which, it is
claimed, Will cheaper the cost of trans
hitting messages, and will enable any
postoffce clerk to send kilograms and
will give the message to the receiver in
printed form.
St. Paul was sold on the news that
81 200, 900 worth of bonds supposed to
have been sold had not been taken.
Sugar was put up Saturday on stop
orders, and naturally solo back. There
has been some buying on proposed legis-
lation expected to be favorable to the
sugar refining interests.
Tennessee coal spurted up to 6234, bnt
dropped back to 6l1 on few realizing
sales. After further decline in Ten
nessee coal aud in sugar a rally set in
which was slow, but general in the last
hour.
MINING SHARES GO WAY UP.
Special to the Gazette.
NEW YORK, March 3.-There was
small sensation on the stock exchange
this morning. Freeland mining compa-
ny's shares jumped up from seventy
cents to Sl.l0, causing considerable
excitement on sales, amounting in the
first two hours to over
1000 shares. The shares
were placed on the unlisted department
on Monday last, and the first quotation
was at Fifty bid and sixty asked. They
have been moving up ever since until the
present price was reached. The COM
pany is an old one. It was formed in
1880 and is capitalized at S5,0o0,-
600, the par value of the
shares being $500. 1t has
not paid dividends for some years, but
the president, Mr.. Henry Hosner, claims
that the company now has new processes
by which IL can turn out ore for So per
ton, where formerly the cost was Sl2. 90
per ton. The mines of the company are
located in Clear Greek county, Colorado,
and the products ara silver, iron and
other ores. C. o. Bridge s. Co. were
said to be the principal buyers of the
shares to-day. They say they are trying
to buy all there is for sale. The ''tip'
had been given that the shares were go
ing up, and many operators lined their
pockets on the bubbie-like rise in price.