Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-10-04
SPECULATIVE.
Traders Anticipate Substantial De-
cline in the Speculative Markets.
Some Interesting Features In Come elton with
the Money Market Pesume of the
Days Dealings
Special TO the Gazette.

Special TO the Gazette.
NRw YORK, Oct. 3.-Traders say the market is
about to experience substantial decline. They
thought Union Pacific would sell below fifty. A
wheeler remarked last evening that forty would
look pretty dear for the stock inside of a few
weeks. There is n7thing to buy it upon, and
the talk OF short interest is all CANNON. The
selling and offering down of bonds yesterday
meant little bulk of de alngs, and was traced
to the same people who put out North American
and North Pacific preferred and Atchison some
DAYS ago. Insiders were equally surprised at
the weakness of Pac fc Mail. Mr.. G. p. Hunt
ington, who is believed to be the largest holder
of the stock, expressed the opinion that it is the
cheapest security on the list. Everybody knew
month ago that the house would do nothing on
the subsidy bill through lack of time, but the
next congress will meet in a couple of
months and the postal bill will be one
of the first measures that will receive attention.
Anyhow those who have stock say that it is not
question of subsidy, but one of earnings, and
the Pacific Mail company never commenced
within recent years to put by the net money it
is now doing. Mr.. George Gould spoke IN q
very en husiasu manner yesterday evening.
The decline in Missouri Pacific was attributed to
realizing sales for the account of room profess
SIGNALS, who bought 4 few hundred ares Of
stock on Wednesday and again on Thursday
morning. About 25OU short stock was likewise
put out. There is absolutely reason for the
report that the Miss uri Pacific is doing badly.
The net earnings last year were equal to nearly
comparatively better.
The continued lower prices, advance in
rates for sterling exchange and slightly in
creased demand for money in thus market were
the features OF the day in the financial world.
Strictly prime four months paper is offered at
per cent. This class of paper at times OF ex-
IRENE ease in the money market is offered at 3i22
and per cent. First-class Wall street time
loans on collateral for six mouths are offered
at the same rate. ell kown commercial paper
to be classed as good can be had at and S
per cent. These rates do not signify that money
is drug. Their significance is not unfavor-
able, necessarily, either. They signify active
business and demand for money for new enter
prises. The market was very weak to the close.
The decline in active stocks averaged be-
tween l and per cent. Reading was the &C.
tive stock OF the day and closed weak.
The important declines were: pa in Reading
and Tennessee coal; l5s in North American and
Union Pacific; II. in New England, Union Pa
cifc, Denver and Gulf, Wisconsin Central and
Cincinnati and Cleveland, st. Louis and st.
Paul; IL. in Burlington and Quincy, ST. Paul
preferred. Colorado coal, Missouri Pacific, Jer-
sey Central and Wheeling and Lake Erie; in
Atchson, Chesapeake and Ohio, first prefer
red, Lake Erie and Western preferred. and
Northern Pacific pre- ferred; "a in Richmond ter
minal, Rock Island and Northwest; "a in Louis
vile and Nashville, silver certifcateI and Pa
cifc mail; n in Erie Illinois Central and sugar
trusts; q in Lackawanna and Chicago gas.
Reading-Prices declined with little inter
rupton throughout, and closed generally "a to
points lower. There was no apparent cause
for the selling.
Atchison, 361s.