Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-05-03
SPECULATIVE.
Wall Street Without Particular Feature.
Everything Tends Upward.
Secretary WINDOWS Failure to Purchase ST.
YER for Coinage Sets the Street to Won
dering-Bullion Higher
speeisl to the Gazette.

NEW YORK, May 2.-The action of the
directors of the Pennsylvania road In
increasing the dividend and in making
the stock allotment Was undoubtedly a
trump card. London looks upon the
Pennsylvania as the hester of American
railroads, and scarcely anything could
have been done which would more effec-
tuslly increase English confidence in our
securities. Still ii is the unexpected
that happens, audi London was not
pronounced factor in or market to-day.
It. is true that the early cables
from London this morning re-
ported some Americans, particularly
Pennsylvania, St. Paul and Northern
Pacific preferred as very strong
indeed, but more declines than usual
were reported and London did little in
our market. Nevertheless the morning
market was fairly strong.
Lead trust advanced suddenly into
prominence as q leader in the activity.
Atchison was extensively bought at
advancing prices.
Union Pacific has more than recovered
from the weakness which followed the
publication of the annual report. 1t is
commended that the facts in that report
were all known before and were the
causes of the former lower price OF the
stock. The company's future, it lie
claimed, is now brighter.
Oregon and Transoontinental was en-
active feature.
Chicago gas is rapidly coming to the
front. Now that the clouds of legal COM
plications which have hung over it are
clearing away, the trust has been reor-
ganIzsd as a corporation, and its friends
claim that the price viii go up to point
where, as dividend payer, it belongs.
1t is announced that notice will be issued
TO the stockholders IN day or two
which will explain recent actions and
Will add to the selling price, which has
been advancing rapidly OF lats. The
notice will state among other things that
the recent transfer of gas bonds is pro-
tected, both by the assets and stock OF
the companies.
At the noon hour traders who had been
waiting for reaction began to accom-
pIish results. They used as q weapon
the news that the Fidelity, Surety Trust
and Safe Deposit company of Camden,
connected with the Philadelphia bank Of
America, had closed its doors. The fall
N prices was quite marked for a while,
but the bullish sentiment again reas-
serted itself and the market was strong
again.
It is announced that negotiations are
under way looking to the sale Of Alton
and Terre Haute TO the Big Four for $40,
600 200 in three per cent bonds. The
stockholders have been notified that
such negotiations are pending, but mat
tiers are not ready for action.
Secretary Wsndom declined yesterday
TO purchase any SILVER for coinage
Mondays and Thursdays ara purchase
days and the secretary s refusal to buy
would seem to indicate that he hopes
70 be able to make his monthly pur-
chase at a cheaper rate later in the
month or that he feared that any con-
siderable purchases Yesterday would raise
the price out of all proportion on sc-
count Of the present small amount OF
available bullion. London waz very
chary about naming the price this morn
ing, but the ruling figures seemed 20 be
high.
The New York bullion price was
slightly higher aud the price OF silver
certificates about the same.