Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-08-13
SPECULATIVE.
The Lightness Of Money Now the Only
Bugbear Affecting Speculation.
Various Influences FrouEht to Bear on Wall
Street YesterIay-Resum of the
Days Dealings.
Srecial to the Gazette.

Special TO the Gazette.
NEW YORK, Aug. l2.-The very strong market
this morning was partially due OF course to the
announcement that the attempt OF few
strikers to com6s. the Vanderbilt system had
proved futile. It was also in great past caused
by reactionary feeling incident to yesterday
decline. Some shorts covered and London op.
orators thought the time ripe for an upward
movement and bought. Tie only bugbear lef:
low, and it is serious one too, is the Iightness
of the money market. Money is undeniably
drafts a the West and South have just began.
IN tlts emergency al! eyes turn toward the
secretary OF the treasury. No othc-
relief is at present apparent. ANY steps taken by
him, the tendency OF VIII ch would be to lie. out
any part of the large and rapidly incT asing
plus in the treasury would in eli probability have
instant effect the prices of securities. Vhs
bonds accepted to-day by the secretary OF the
treasury aggregated $50, 90 in as at l2i. Ths
money received for these will undoubtedly iut
its way to Wall street, as all available money is
doing now. Banks up town, in the suburbs and
in other cities are sending money to take ad-
vantage OF the IS and % cent rates which repre-
sent not manipulation buC scarce money. Fol
lowing London'S lead. the opening prices for
Atchison, st. Paul, Chicago. Burlington and
yesterdays olosings. BY Ii o'ciocs
nearly every active stock was per cent. above
yesterdays closing. Business was not active.
however. Reports of heavy rains in Kansas
were seized upon as favorable indications.
Money was u to 10 per cent. nearly all day.
Considering this, the strength of the stock mar
ket remarkable. The Missouri, Kansas ard
Texas advanced steadily; the upward movement
attended bv rumorS that Secretary W ndom
viii offer to purchase AZ per cent bonds with
interest 20 nRtuHfy. This would make their
price I04i3, with September coupons off. There
was no confirmation OF this port, but buviug
became more anu more pronounced in charac-
ter. Reading was prominent stock, Oregon
and TranscontnentE was heavily bought. The
close strong ut nearly the best prices.
Money went If to per cent. on heavy offerings
by prnminen' banking house.
Important advances for the day were IN
Tennessee coal, ~ in Jersey Central, 2as In
Oregon transcontinental, "a in Reading,
in Michigan Central. St. Paul, Chesa-
peske and Ohio Is preferred R0i
Pullman, IA in Union Pacific and
D pver and Rio Grande preferred, l7i In Mis-
souri, Pacific and Louisville and Nashville, H.,
in LackawaHna, IL in Lake Shore and Clevc-
land. Cincinnati, Chicago and St. Louis; Is, in
Wabash preferred and Wheeling aud Lake Erie
preferred IA in AtchIson, Burlington and
Quincy, Colorado coal and Union Pacific and
Gulf lis in Northwestern, Rock Island, New
England and Northern Pacific preferred / in
Canadian Pacific, Canada Southern, Chesapeake
and Ohio, Chicago gas, Erie and Wheeling aid
Lake Erie, Z in Richmond terminal "a in Texas
Pacific, "a in New York Central.