Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-12-20
SPECULATIVE
There We're Determined Efforts to Lower
the Price OF Leading Stocks
Silver Was One of the Most Active spacialties.
Money Was Easy, rlos'ng ~ 8 per cent.
The Highest Vas 6.
Special to the Gazette.

Special to the Gazette.
New YORK, Dec. l9.-In the three
hours to l O'Clock there we're sales Of
only SO 900 shares of stocks on New
York stock exchange, an amount no
larger than is frequently sold in half an
hour in times of ordinary activity. There
was scarcely any change in prices during
the three hours, and at l O'Clock all
stocks that were traded in at ali were
just about where they opened, viz: Is
to "a lower. ST. Paul, Atchison.
Louisville, Lackawanna. Rock Island
Union Pacific and Reading, together,
furnished 81 per cent of all the trading in
the listed stocks. There was a constant
hammering of these stocks in a small
way and constant efforts by circulation
Of damaging reports III the street to de-
press their prices. There were exagger-
eted reports of n strike of switchmen on
the Union Pacific, and Atchison was
sold short on the prediction that its earn
ings would show u large falling of in the
next six months, because its increase Of
earnings heretofore had been acquired
by il~ligitimate methods which had caused
animosity on the part of Rock Island and
other roads. In regard to Rock Island
itself, a sudden drop of Rock Island
extension collateral trust 5 per cent yes
terday from IS to 954 was claimed to be
the effect of sales by inside people. who
were dubious about effects of short corn
crop in the country west Of the Missouri
river. But to-day the Rock Island eX-
tension tives were UP again to 97l2,
which is just where they were three
weeks ago., SO the that sudden selling of
bonds may have only been a ruse TO help
depress the stock.
Silver was one OF the most active spe-
%cialties, and had a larger and more sig
niicant decline than anything else. On
Monday, December 8. silver bullion Ger
tiicstes sold at 81 OLE but upon reports
from Washington that the senate caucus
committee would probably recommend
the purchase OF IL, 600 900 or Is 900 600
ounces in addition to the 1900 900
ounces per month now being purchased,
the price wns adv need to 81 10 on Nom
day, the 10th. The decline to-day to
81 .06 is an index of the diminishing be-
lief that any such measure will be
adopted.
There is a marked change for the bet
ter in the market for commercial paper.
Capitalists and banks have heretofore,
been skittish and inclined to old on tSps
funds. Now the feeling has sprung up
that they would better get out their
money while they can command good
rates for 1t. All money rates are so low
that they do not tempt holders of funds,
and the prospects for a future period of
dullness, IN which loaning of { NE money
at good rates will be a difficult matter,
has spurred them up to activity. Hence,
many sales of commercial paper to city
banks and trust companies, as well as
time loans on collateral. are reported.
Country banks are also doing something
in that line. Rates have declined for the
best do~ubie-name paper. Seven to ~
per cent Is the ruling rate, where s was
the rate a short time ago. Some sales of
single-name paper at Z to s per cent
are reported. Credits are, of course, |
still closely scrutinized. The rate for
time loans on collateral Is 6 per cent.
The change of sentiment regarding the
effects of an increased coinage of silver
is very marked. Last May the stock |
market had Il genuine boom On the pros
pect of the imitation of the currency to
follow the silver bill; instead an initiation
aud o%ntraction followed the passage of
the bill, owing to boarding of gold.
Now the fear that more liberal silver
measures will be passed hangs q menace
over the market. The temporary rally
of yesterday was attributed to the grow
ing hopes that if any further silver
measures are adopted they will be of q
conservative character.
From uptown come reports that the
momentary troubles are ~perceptably felt
by the dealers in holiday goods. Christi
mas purchases have decreased in volume
as compared with other years, and bar
gain counters are oenters of attraction.
The general market closed weak and
The result OF the days busin ess
nj material change. Advances
Rio Grande Western preferred, 2; Rich
Terminal. preferred, "a; Lake
Shore, =; New York Central, =.
Decentralization, Il; New York
Central, n; Cleveland. Cincinnati,
and St. Louis, "a; Chi
cago, Burlington and Quincy, q; Chi
Gas, e; ST. Paul, q; K ok Is
=; Laokawanna, "a; Erie, Il;
Lead Trust. u; Louisville and Nash
Vile, IA; Missouri Pacific, q; Jersey
Central, Il; New England, NJ North
ern Pacific preferred, =; Pacific Mail,
l; Silver Certificates, *; Uuion Pa
piic. "a; Western Union, "a; Sugar