Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-10-10
SPECULATIVE.
Cables Report Il General Weakness
on London's Stock Exchange.
A Smart Rally on Our Market Advanced
Prices, and Active Stocks Closed Higher
Than Wednesday Night.
Special to the Gazette.

Special to the Gazette.
New YORK, Oct. 9.-Cables reported weak
ness on the london stock exchange, and great
excitement is prevailing London prices for
Americans did not reflect this, being only
slightly below parity with our closing figures
Money in London was at 4Ia per cent. The
Bank of Engands rate of discount no,
raised. The proportion of reserve to liabiln e.
is now 81. so per cent, against $3.50 last weeI,
Bullion decreased G65S, 900, and reserved q
creased ESQ 900. Later cables stated that large
amounts of stock had been thrown out on the
market on forced sales, but the closing prices
did not show marked declines. Our own mar
ket was very weak once more. Western Union
and ST. Paul were the particular features of the
morning hours, and declined heavily on liuuida-
ton. The fact that tomorrow will be settle
ment day was in part the cause for
the excitement IN London. Rumors
afloat that many bookers and operators
would not be able to meet their bi-weekly set
Elements. 1t is not deemed probable that there
will be many failures, If any. However, be-
cause SO many sold out to-day, the excitement
IN London did not apparently effect our local
market very much, but the PhiladelDhia market
was reported weak, owing to sales OF Pennsyl-
vanta presumably for foreign account SO
many Philadelphia stocks are dealt in IN Lon
don that some apprehension was caused by fears
of continued selling movement. The rumOrs
of late, II they are reliable enough to be dignl-
fed by the name of rumors, concerning the sta
bility Of the two well-known brokerage houses,
need heroic treatment They should not be ig-
mails. The houses mentioned have without
doubt felt the effect of the great drop in prices.
Every capitalist and every banker has felt it,
but there is good authority for the statement
that these houses stand on firm footings. There
is no possible danger that they will fail.
Reading was weak feature of the day, owing
to the uneasy feeling prevailing in Philadel-
phia- A smart rally in the afternoon ran prices
up and closings OF tho active stocks were above
last nights closings.
The important changes were: Advanced-Cot-
ton oil preferred, 2; Milwaukee, Lake Shore and
Western preferred, ia; Mobile and Ohio, ~;
Richmond terminal preferred, IL; Northwe4i,
sugar trust and Western Union, B; Louisville
and Nashville; Rock Island, Cleveland, Cincin-
natl, Chicago and st. Louis. q. Union Pacific,
Lake Shore and Burlington and Quincy, "a;
Erie, Northern Pacific preferred, Colorado coal
and st. Paul preferred, n; ST. Paul and lead
trust, "a; Missouri Pacific, Is. Declined-Edi-
son G. E. 6; Omaha preferred, 3; Omaha COM
mon and Illinois Central, N; cotton oil trust
receipts, IA; Pullman, Wheeling and Lake Erie
preferred and cotton oil, l; Reading, "a Man
haitian q; New York Central, silver certificates
and Delaware and Hudson. q; Atchison, Chi
cago gas and Jersey Central, "a; Chesapeake and
Ohio rs preferred, 13s; New England, 1H.