Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-04-01
l5UIITTVE.
Strength of Atchison the Most En-
cOuraging Feature of the Stock
Market.
The Coal Stocks Weak-DaYis DOws' Death
Has Little Effect on the Street-Ten-
nesses Coal Was Dumpish.
srecisl to the Gazette.

Special to the Gazette.
NEW YORK. March Sl.-our own
money market was TO-DAY as easy as
could be expected. The loauing rate was put up
to 55 per cent. but it fell off quickly to 3, ana
there was no appreciate demand for money.
With such an apology for stock market as to-
day it would be a difficult matter to create de
mand for money.
The strength of Atchison securities was the
most encouraging feature of the stock market.
Boston is true to her old love. While Atchison
stock was falling from ll9 to ZIG Boston was
cliDging to it as long as they could, out one Dy
one they were compelled to let go, and their ia
vorite came.over block by block to New YORK to
be football Of speculation Now they are
grasping al every straw which denotes favora-
bic wind. They have forgiven if not forgotten,
and are welcoming the prodlgal nome again.
They are buying back the securities as last as
they can and hope to see Atchlson STOCK quoted
above par as il was in the good old days. Inc
speci al cause of buying to-day was the state
ment that the earnings for the third week In
March show an increase Of Sli9, 517.
The weakness of all the coal stocks except
Delaware and Hudson was attributed to the un-
satisfactory results OF the Tates meetlng NERO
marked. Lackawanna was the most active
stock on the list. Its declines were fractional,
but were large for that stock.
The news of the death of David Bows, while it
was receive with general expressions of regret
on Wall street, had little effect on the market
stock in the early dealings. 1t was recognized
that a man OF Mr.. DOws' business sagaclty
would not leave his vast holdings IN railroad
properties in such shape that they could be
dumped on the market at his death.
There was more selling of Texas and Pacific
stock, the cause of it being reports that the
Marganza levee was in danger. The New Orleans
division of the Texas and Pacific runs along the
bottoms, and would, it is said, be considerably
affected by q break.
Louisville and Nashville stronger, the
bears who sold it down having found that the
damage done by the tornado was not equal to
their expectations.
Tennessee coal was very dumpish. while
Chicago gas exhibited considerable strength
on buying, especially attributed to the
shorts. Gen. Samuel Thomas stated plainly
this morning that he and Col. Bruce had
become interested in the deal In Ten
nessse coal and had bought largely
around 90 a fortnight ago. When prices
went up suddenly to the neighbornood OF 60
they stopped buying. A reaction ensued, and
as there were no supporting orders in the market
the weak holders were scared out again ana the
shorts secured sharp decline. Gen, Thomas
stated explicitly, however, that the stock would
not be allowed to remain below so, that sup
porting orders would soon be put in around that
figure. He expressed his belief in the stock and
predicted a favorable showing in the next re-
port. It may be added, however, that one bad
element in the situation is the fact that the COM
pany which lost the benefit of much Of the re-
upon at the low figures OF g few months before,
made mistake OF refusing long-term contracts
at the high prices. Consequently the company IS
merely following the course OF the IRON market
and has lost the permanent benefit OF the recent
high iron prices.