Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-05-14
SPECULATIVE.
Gould Not Bear on Granger Stocks.
Missouri Pacific Probabilities.
An Announcement Anticipated Affecting Ger
tain Bonds of the st. Louis, Iron
Mountain and Southern.
Special TO the Gazette.

Special TO the Gazette.
NEW YORK, May l3.-Within day or
two the announcement will probably be
made by or IN behalf of the st. Louis i,
Iron Mountain and Southern railroad
company relative to the 81 ZOO 900 first
mortgage per cent. bonds upon its
Cairo aud Fulton division, which mature
at the end of the year. Holders of these
bonds are to be given the privilege of ex-
changing them for Iron Mountain gem
eral mortgage SIS Cd even terms;
that is, bond for bond. It
may be noted that maturing
bonds are still selling upon q seven per
cent. basis, which Is unusual since the
rates for renewing obligations OF that
class have been 405 per cent, holders
who do not elect before July l, to make
exchange Will be paid off at the end of
the year. It Is understood that exchange
and redemption will be effected through
an influential syndicate. Fixed charges
of the company will be reduced SI4O,-
600 year by the operation.
Edward Lauterbach, who was
believed to have been conducting
yesterdays negotiations for the pur-
chase of Baltimore and Ohio
by the Richmond Terminal, said on re-
turn to-day that he went to Baltimore
on regular business for the company,
but would not say that incidentally other
questions of interest were not discussed
with J. K. Cowen of the Baltimore and
Ohio. He declared, however, it would
not be proper for him to discuss them at
present. Whatever is going on, - he
continued, ''is as yet entirely uncertain,
and only half formed. Something may
come out of it all, and again may amount
to nothing
Gould, all reports to the contrary not
withstanding, is not a bear OH granger
stocks. The selling of Missouri Pacific,
especially during the late trade, was
made most conspicuous in order to con-
yey The impression that the Goulds were
so disgusted with the entire Western
problem that they peremptorily decided
to throw over their holdings. The truth
of the matter is the Goulds never before
had anything like the number of shares
of Missouri Pacific which they now
possess. George Gould is authority
for the statement that Missouri Pacific
will sell higher on the next rebound than
it has sold in many months. The sub
stantial manner in which stock olders
have subscribed to the new collateral
bonds has been taken as a direct evil
dence of their confidence in the Gould
management of the Missouri Pacific.
ALTON PLAYING LONE HAND.
1t WAS announced this morning that
none of the other roads had followed the
example of the Alton in cutting rates.
Altogether the situation was brighter.
London seemed to think SO, too, for she
had a number of buying order in our
market. The morning market was nos1
strong; yet the bears made determined
raid on Missouri Pacific, Union Pacific
and Changers, which was quite effective.
1t was only after the noon hour that the
bulls began to assert themselves, and
caused prices of these stocks and of the
market generally to improve.
Money was in demand again to-day.
Recent drains by the sub treasury have
reduced the scant supply to such an ex-
tent that there really seems to be COM
parative scarcity of funds with which to
transact business. The rate was forced |
up to per cent. shortly after noon.
By far the most active feature of !
the market was Sugar Trust |
Prices for 1t advanced with amazing ra-
pidity. There seemed to be a great de- |
mand for it. Boston and the inside ele- |
ment were apparently at least anxious
for it. Private advices from Washing |
ton intimate that tine sugar provisions of
the tariff bill stand fair chance of GO
ing through. These intimafions from
Washington do not hurt the price of
certificates, although there are many
persons who proclaim in stentorian tones
that the bill will kill trusts. Atchison
and Chicago gas retain their hold on
popular favor. Canada southern
was active and strong again
to- day on London buying. Trading was
not so active to-day as it has been re-
Gently. Delaware and Hudson andeDis-
tillery and Cattle Feeders trust were
among the strong features. Richmond
Terminal is the subject OF q large share
of street discussion at present. The
operations which are the immediate
cause of the activity of the stock are not
yet in such a state that they can
be made public, and meanwhile it may
be said, that there is a considerable
5nohnt of chatting talk which appears in
newspapers relative to the purchase of
he Baltimore and Ohio road. Daring
The last hour this stock reached high fig
Tres on active dealings. Prices of many
tocks reached their highest point in tie
asst hour. Atchison went to Az, Ten
lessee coal TO 55, Laokawanns to 1857
ind Delaware and Hudson to III.