Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-06-22
SPECULATIVE.
The Effect of Secretary BIaine's Letter
Upon the Speculative Market.
A Bitter Feeling Against Trusts in Early Deaf
ings-The Market Generally Demon
nIIzsd-Net Declines.
Special to the Gazette.

Special to the Gazette.
NEW York, June N.-The agreement of the
congressional committee the antitrust biz
caused rush to unload by holders of the sugar
trust certificates and the price broke per cent.
in the first fifteen minutes. The fact that prom
-nent officials of the sugar trust, who are large
lenders OF money, refused to make loans also
tended 10 make the holders anxious to sell, 1t
is stated on good authority that the sugar trust
will be changed into corporation just as soon
as court proceedings allows the change to be
The Commercial Bulletins Washington cor
respondent saws that Secretary Window has
been some time considering the question OF
whether he Is obliged, uncer the existing laws,
30 exchange gold bars Tor coin on de-
Inand and without charge. Roth the secretary
and the director OF the mint desire TO lnteTpose
some obstacle to the rapid shipment OF gold
bars and IL the Encouragement is OF tho
opinion that they can DO so they will impose a
charge as being less arbitrary than an absolute
refusal. A charge, though small one, Nouid
make transactions so Improbable that it would
take place less frequently than now
Special to the Gazette.
New YORK. June 21.-Mr. Blaine, in his letter
ON the subject OF our relations with other Amerl-
can countries, urges strongly against the admls-
sion of 81 sugar free of duty, claiming that TINS
exemption from duty should be given to other
American nations, and then only under reclpro-
cal conditions. The appearance of the house b II
some months ago providing for the ad mis- SION OF
raw supar free, with duty on refined, was the
signal for a boom in sugar certIhcates. managers
OF the trust pulled long faces and SAID tne blll
would ruin their business, but still certificates
went IN conversely. The publication OF
Blaines message yesterday morning was the
signal for selling of certificates by few VINO
grasped the situation, but the keen-wlt;tea
street succeeded at last IN rising TO the occasion
this morning, and there was a char-
acteristic weed drive against sugar,
1t OPENED over per cent. of and the
price dropped nearly points from last night
closing The drop was accelerated by talk OF
the court of appeals decision. Total transact
tions in sugar trust certificates were footed up
TO nearly 2ar0 shares, more than ten times the
amount Of dealings in any other security. the
rest of the market, what there was OF II, was
of course demoralizcd. All prices tel OF,
Chicago gas being especially symvathetlc. Ihe
street was very bitter against trusts this morn
ing and was inclined to condemn them to per-
dition Just as the market was shaping Ter
rise came this slump to sugar to spoil every
inclined to think that 1t was useless TO go on
trading as long as blind pools hang over the
market. liable without moment warning, TO
fall on it and break 1t. -
Sterling exchange vas slightly weaker To-Day
as a result of the recent gold expectations.
Reports from Washington pointed strongly TO
the ultimate passage OF u compromise silver Dill
Silver bullion certificates were strong to-day,
England was a moderate buyer of our securities.
Americans were higher in London, and but Tor
the drive on sugar the chances would nave peen
in favor of a better market to-day.
A compared with prices q week ago the i'm
portrait net declines are: sugar trusts ci,al4;
Line and Manhattan, AZ; Atcbison, Rock Island
end Reading, 2la; New England, ~; Wisconsin
Central, ~; Union Pacific, "a; North
West and Northern Pacific preferred, Pa Can
ada Southern, ST. Paul, lead trust, Missouri
Kansas, Tennessee coal, ~; Pullman and Lake
Shore. Iss: Louisville ana Nashville, IA; Texas
and Pacific, IL; western Union, !, eX-dlyi-
Erie. New York Ceatral, Burlington ard
Quincy, "a.