Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-06-20
SPECULATIVE
Darkness and Gloom Prevails in Wall
Street as Compared With For
mer Activity.
Operators Kill Time Discussing the Gold Move
ment-A Resume of Most Important
Transactions.
Special TO the Gazette.

Special to the Gazette.
NEW YORK, June l9.-The sun shone brightly
this morning except on Wall street and It's
vicinity. Darkness and gloom prevailed there
a prices OF stocks went slipping down without
resistance and without great apparent effort on
the part of bears. London prices for Americans
were weak; declines in st. Paul, Atchison. Union
Pacific and others were l per cent, or more.
That our markets should follow suit was almost
inevitable, and it did so to an extent which was
rather appalling. There was no favorable sllVer
news to bolster up prices during the thickest OF
the battle. IN the morning tadlng was very
lively. Later. when there was luil ana the
smoke was allowed 10 clear away, the earn
age vas found TO have been fTightful. Nearly
everything on the list had gone down to
points before the artillery Of the bears. St.
Paul, Atohison, sugar and Wisconsin Central.
but it IS useless to enumerate all that fell IN the
scTimmage. Chicago gas was an exception and
advanced. After the morning raid prices i'm
proved somewhat all along the line.
The exact cause OF transactions in gold be-
tween this country and Germany has been the
object of large amount of discussion and a
number Of conflicting opinions are the result
One given by an authority the subject,
to-day, was that tn, shipments were made, not
hacause we owe Germany balance on excess OF
imports over exports in transactions between
the two countries, but because Germany needs
gold badly and could not get it from England.
Berlin exchange on London is low enough to war
rant exports Of gold from the latter to the for
mer city, but the bank Of England's well known
methods for guarding its gold precludes TINS.
Our exchange Berlin is high, because
pounds are low in Hamburg and Berlin. TWAS
rumored this morning that $40, 600 900 in gold
will have been shipped from here to Berlin be-
fore the movement is over, but there was ap-
parently good authority for this. In the al
ieruoon it was announced that $50, 900 more OF
gold had been engaged for export to Berlin.
News from Washington showed that silver
IN the house were carrying things before
them.
Richmond terminal was very strong on news
about the purchase of Baltimore and Ohio stock
civ London and Boston bought
ison. The whole market seemed to be on the
wind up TO closing. which, for many stocks,
was n about yesterday s figures. There is CON
siderable room for Improvement, sti:l SILVER
certificates reflected good news from Washing
ton. Richmond terminal. it is understood,
has authorized President Inman TO take
for the company part Of the Baltimore snd
Ohio stock recently acquired by the
Bacon syndicate, of which Mr.. Inman, as an in
dividual was a member. Richmond terminal
will, it is stated, pay cash for the stock out OF
treasury money. Later there may be en- issue
Of more OF collateral trust bonds to cover the
The Important net changes for the day were:
Advanced-Chicago gas Us, Jersey Central l,
Norfolk and Western preferred and silver GER
titicates q, Richmond terminal q, Richmond
terminal preferred y, Chesapeake and Ohio
Us preferred Il, Cleveland, Columbus, Ctncin-
natl and st. Louis, sugar trust and Western
Union "a, Missouri Pacific z, Reading and Ore
gon Transcontinental y.
Northern preferred "a, Illinois Central, st.
Paul ana Duluth IA, Northwest, common and
preferred. /, Wisconsin Central II, Union Paclnc
q, Canadian Pacific and Chicago and Eastern
- Illinois q, New York Central 4, Lake Shore
and st. Paul3s
Special 70 the Gazette.
WASHINGTON, June 19.-speculators outside
seem to be of various minds to the pro spect
Of silver legislation this session, and some OF
them have been taking gold out of the minis for
shipment abroad, 81, 500 600 having been SO taken
since Saturday last, although exchange is below
the normal export point, and shipments must be
made, at least more shipments are expected TINS
week. On the other hand, treasury advlces
show slight decline in the price Of silver GER
thcates from figures OF last week.
Special to the Gazette.
NEW YORK, June l9.-The recent shipment of
81, 254 600 in gold to Germany. $3.50, 900 of which
went on the steamer Columbia this morning, has
been followed by circulation in banking circles
of several disquieting rumors, one reaching gov
ernlnent officials to the effect that shipments
are on direct orders from German chancellor.
They refuse to talk about the story, however, al
though tacitly admitted that they knew OF 1t.
Ono leading banker here said the recent advance
in Exchange in Berlin and low rate Of sterling
exchange in Germany arose from the policy OF
extending the German export business, and at
the same time placing such restrictions on i'm
ports as to practically prohibit them. The rea-
son for this policy is that the German govern
ment is boarding gold, and no matter what
excuse e banker acting its agent may
make. it is well understood where their orders
come from, and there the gold goes to. Atten-
ton was directed by other bankers to a compari-
son OF the recent statements OF the bank OF
France and the bank of Germany The bank of
France now holds 500 OOO, oOO IN gold, Whlle the
bank of Germany holds only SI45, 900, 600. Dur
ing the past year the bank OF France has in
creased its gold holdings by SO, 600 600 while the
bank of Germany lost sic, 600 900. This situation
Ia said to have been discussed by the Ger
man cabinet, and Withdrawals OF some London
aud New York result. II Is estimated that Sl0
uOO, OJO will be taken by Heidelbach, Ichelheimer
q Co. on the present orders from this city, and
English bankers said to-day that sterling ex-
change and exchange on Paris was Just as good
4 shipping point, and any further advance in
rates would bring out large export orders. The
worst feature of the situation is the fact that
gold bars in the assay Office, which two years ago
amounted to $50, OOO, 0OG, have decreased to S32.
600. 600. II they should be all absorbed, the
drain on the dou BILE eagles in the sub-treasuTy
will follow, and banks will lose part of their spe-
Gle holding.