Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-03-20
SPECULATIVE.
Sugar Trust Receives an Impetus on
the Certainty Of Another Dividend.
Platt and Inman Boom Tennessee Coal and
Iron by Buryiug the Hatchet-The
General Market Weak
snecial TO the Gazette.

special to the Gazette.
New YORK, March 19.-The affairs of the
sugar trust once more came into prominence on
the street to-day through the order of Judge
O'Brien, made yesterday afternoon, directing
Receiver Gray of the North River sugar refining
company to show cause this morning why the
trustees of that trust should not be permitted to
pay a dividend out of the earnings for the last
quarter. The trustees claim that more than
enough for the payment of dividends OF
Sl25, 900, in addition to, previous pay
81. The street has been expecting a stop OF
this nature for some time, but the
method employed was hardly what had
idea that the trustees would be compelled
to go into court. show their books and ask to be
allowed to pay dividend. By the court order
the burden OF the proof was laid on Receiver
Gray The effect OF this naturally was to raise
the price OF sugar trust certificates and trading
exchange in the face OF weak.
dull general market for securities.
The case will come up at 10 O'Clock tomorrow:
The attorney for the North River company said
they would not object to the payment of divi-
dends provided that sum was deposited suffi-
Gent to satisfy their client. The street felt
pretty certain then that a dividend would be de-
clared
Owing to the present uneasy feeling on the
other side in the, London market, London
was also a seller of stocks in our
market for arbitrary accounts, and
especially Union Pacific and st. Paul. The
bear attacks and lack of demand for securities
of any kind were causes of the weakness in our
market. The selling movement in London had
further effect on raising the rate of exchange
through the increased demand for bills.
Lackawanna was the most active stock, and
declined practically on bear raid. The chief
result, however. was an increasing OF the short
interests.
Tennessee coal and iron recovered slightly
from its late depression. At an important
meeting of the Tennessee coal and iron company
md II TprnaO veStardRr ayaninp the
present and future of that corporation were the
subject of prolonged and interesting discus
SION. Mr.. Platt admitted to-day that such a
M citing had taken place and said: There have
been difficulties between Inman and myself, but
they were fully arranged at our meeting and
are now in full accord and harmony. We
are both convinced that the property in which
we are both interested is g valuable one and
worth far more than it is quoted at, and that it
should never have gone down as low as it has.
We have agreed on the question of management,
and there is no danger of any dispute
Mr.. In nan thew have been settled. OF conrse
no agreement of ours could deprive any stock
holder from commencing similar suit if he
chose, but think the present situation would
deter anyone from acting. The harmonious re-
lations now existing between the former discord-
ant elements will naturally be beneficial to the
company
Inman also admitted that he and PIatt had
been in consultation and verified all that Plat
had said. The advance in Tennessee coal and
iron to-day is based entirely on the fact of the
reconciliation and the buying by insiders. Platt
and Inman people are understood to have pur-
chased over 5000 shares to- day.
A Western general manager commenting on
Ar. Adams proposition to reduce grain rates on
the Union Pacific 80 per cent, says: adams
knows very well that the roads between the
Missouri river to Chicago can't and viii not
make a similar reduction in gTsin rates. Ne
braska and Kansas people may be unfortunate
in being so far from market, but this Is no
reason why they should be given an
unnatural advantage over Iowa farmers. The
latter viii oppose any reduction from beyond the
Missouri river made from md Illinois
points. Adams action is q piece of buncombe
calculated TO influence congress and make pro-
lection capital for the Union Pacific. 1t will
have no effect on the roads between the Missouri
river and Chicago