Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-10-07
SPECULATIVE.
Spectators High in Authority and E1-
perience Anticipate Rise.
Big Men, Kill the Market with Their Mouths
and Little Men" are Afraid-LOndon
Prices for Americans Lower.
Special To the Gazetfe

Special to the Gazette.
NEW YORK, Oct. 6.-Mr. Sage l;
quoted as saying: "The bears are RAID
action before the snd of a week. There
has been decline of from to 10 poi nts
without any substantial reason. Our
securities are low enough, but a pro-
tracted rise will depend upon the outlook
for things in this country and Europe q
little later on.
MIR. Slayback is quoted as saying: 81
never saw such abjecu cowardce on the
part of rich men before. There is no
reason for such a drop as we have seen.
The big men kill the market entirely
with their mouths, and no wonder that
small men are afraid to buy
St. Paul was sold on report that the
company was to buy another road, and
that more new stock would be issued.
People in position to know said the report
was unfounded. Traders thought the
drive at ST. Paul in the last half hour of
the market was the end of the bear
movement in that stock for the present.
The decline has been from 1880 since
May GA fall of IS points. There has
been a drop of over 4 y points, without
any reaction. The sellers Of St. Paul
say that it is @ non-divIdend stock, and
should therefore go to so. The answer is
made that st. Paul has q big market,
and its earnings, with its surplus,
make the resumption of dividends pos
sibility at any dividend period.
The Chicago Evening post says the
talk of light tonnage for railroads in flu
ture is unwarranted. Some roads have
been collecting statistics, and have come
to the conclusion that if prices hold there
will be no surplus cars for some time. If
the roads maintain present rates-which
are materially higher than they were in
August-thsy will maks as much or more
money than they did last year.
Burlington officials are comforting re-
garding q general reduction in expenses
w. s. Alexander of the Great North
ern has been offered the craftsmanship of
the Southwestern steamship and railway
association, and it is thought he will ac-
cept.
Vlcs-President Reiuhart of the Atchi-
son says; ''Yes, the Atlantic and Pa
ciiic company has sold 3l4 ,668 acres of
timber land on the line of road at 81 per
acre. Large lumber plants will be at
once erected by the purchasers to work
up the product for shipment. This will
insure large increase in earnings on
long hauls of his traffic.
London prices for Americans were
lower, and our makret opened very weak
this morning. Liquidation continued aud
prices went down. The decline averaged
more than per cent. below Saturdays
weak closing. Louisville and Nash
vile was especially favorable to bears.
1t was the most active stock on the list,
and declined points on selling, said to
be in large measure on London orders.
London also sold Onion Pacific.
London rates for call money and short
discount bills were slightly easier, but the
monetary situation abroad is still an I'M
certain factor in the financial problem.
Everything else has been pretty we'll
measured for good or evil.
In the afternoon there was q sharp
rally from the low prices of the morning.
Lackawanne was manipulated down
more than l per cent. and then up to .
on heavy dealings. This was not the
work of well-known specialists who
squeezed the bears in Lackawanna the
other day, but of other owners of Lacka-
wanna, whose holdings were largely in
creased q few months ago.
Money was tighter OF per cent. The
market closed irregularly, changed from
closing.
Erie was affected by possibilities of
strike as result of the difficulties of the
company with its employees.
The important net changes were: Ad-
and cattle feeders
rs; Missouri Pacific and
Reading, L; Colorado Coal, st. Paul
preferred, al Lackawanna, cotton oil
trust receipts, %; Cheaspeak and Ohio,
Union Pacific and Wabash preferred,
y; Burlington and Quincy, Cleveland,
Chicago and St. Louis, Jer-
sey Central and New England, d; lead
trust, q. Decline-Lousville and Nash
vile, 21s; Delaware and Hudson, -;
Tennessee coal, "a; silver certificates,
Cheaspeak and Ohio LIST and second pre-
ferred, and Ohio and Mississippi, /;
Northern Pacific, s.; Northwest. st.
Paul, Atchison, Manhattan and sugar
trusts, e; Lake Shore, Rock Island and
Chicago gss, a.