Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-06-24
SPECULATIVE.
Sugar Trust Certificates Have Assumed
Generally Stronger Tone.
just Enough Ups and Downs to Tempt the
Lambs TO Dabble in Certiicntes-Re-
sumo Of Important Changes.

Special to the Gazette.
NEW York, June 23.-The financial conditions
were not materially changed this morning,
neither were prices of stocks except in few
cases. Sugar trust certificates were much
stronger. 1t was natural that they should be.
There was no valid reason for the attack on
them on Saturday, except that the con-
dition of the market offered to manipulators an
opportu nifty for profit in attacking certificates.
Fluctuations OF sugar certificates are not wild
ana inexplicable, They follow certain well de-
fined methods. Whenever the uninitiated think
that certificates going up and have bought
enough OF them On light margins and stop orders
to offer tempting profit to manlpulators, an at
tack Is made, the price falls and all the weak
holders are driven out. Then the uninitiated
think ten point rise will follow and
that they can get out before the next
crash. they buy of m anipulators who sell at adj
vancing prices until the time for another attack.
Then the manipuiators cover their shorts
again. There is just enough regularity in the
ups and downs to tempt the lambs to dabble in
certificates. But they should remember that
the cunning wolves who make the tempting
fluctuations make them 10 suit their own ends,
and aim especially to catch the lambs Just be-
fore they think OF getting out. 1t is an unequal
game.
As the day advanced marked change in the
character of dealing was noticeable. The up
ward movement which set in on Friday, but
which was checked by the drop in sugar on Sat-
urday, seemed to have started in again. Prices
of nearly everything advanced. and more con-
fideDt tone appeared. Atchison and Missouri
Pacific were especially strong on talk about
traffic agreement, which IL seems highly
probable will be made between them. Cleve-
land, Cincinnati, Chicago and st. Louis was
rather weak, as it has been since the announce
ment of the intention of the new issue of secu
rites. st. Paul was of the most active
stocks, and displayed buoyancy which it al
ways does when heavy clouds which have been
hanging over the market of late show any ten
dency to dispense.
The withdrawal of Austin Corbin from the
presidency of the Reading road is matter Of
short time only. 1t was reported to-day
that his resignation had already been cabled
over from London. Mr.. Corbin leaves the
Reading road at an opportune time The prospects
of the coal ira de are good, the Reading company
is doing a rushing business, which will be in
creased by the recent coaliation of interests
effected by the purchase of the city of Balti-
more's Baltimore and Ohio stock.
Sterling sight exchange rates which fell off
the latter part of last week on account of the
shipments of gold were advanced again
to-day. Prices continued fairly strong, al
though there was slight recession in the last
hour
Reports from Washington stated that the sill
yer bill would probably not come before the
house until next week.
Atchison and st. Paul were active features of
the laEt hours. Reading and Oregon Trans
continental were noticeably strong during the
day. Reading was not active. 1t was pro-
fessIonal market purely. Important advances
for the day were: Sugar trusts, pa; St. Paul,
ern Illinois, common and preferred, Delaware
and Hudson Flint and Pacific Mail. Laclede
Gas, each L; st. Paul, New Engl and, Oregon
Transcontinental, Northwestern, Reading, each
y. Mi ssouri Pacific recovered its dividend,
closing at Saturdays figures.