Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1892-10-05
VERY ACTIVE.
More So Than For Many
Months Past.
HEAVY OUTSIDE ORDERS
Executed and These Cause The Market 10 Be
BuOYani- Railroad Bonds In Brisk
Request money Easy
al Low Rates.
OUTSIDE
HEAVY
ORDERS

New YoRx, October l, 1892.
The general drift of conditions, during
the second half Of the past month, has been
MOI 10 favorable to Wall street interests
and the effect on stocks has been apparent
in q frmcr tone and some advance in prices
and In more cautious attitude and some
covering Of "shOrts" on the ''boar' side.
These changes. though not OF nm imposing
character are OF a substantial nature, The
virtual stamping out OF the cholera, both In
the harbor and the city and its compare
lively rapid abatement In Europe, has had
a gratifying effect In removing the partial
paralysis that had seized upon important
interests. The trade OF this city has un-
dOtb edly suffered some transient diver
sion 10 other markets, through exaggerated
nouons OF The spread OF the disease In our
midst; but that IS now a thing Of the rpast,
and our merchan are called upon 70 re-
supply the marke,s at which distant re-
tallers have been making their purchases
instead OF coming as usual g. New York.
The cessation for two weeks 10 the redu
ton Of the surplus reserves Of the assOui-
ated banks has had an assuring effect upon
the money market. The more so us the
general tenor of udvices from Chicago aud
other interior ceuters favIr; the eXpecta
tion that the agricultural sections will not
need and will not DO IN position to draw
so much cure cy from this city as In flr-
mer years. luGead. ii becomes more appar-
\ y
are attracting the balances of
the western banks which accumulate
during the summer and have been wont TO
rest In the New York banks. The ten
dency is natural one and is likely to gain
force In tho future; and whatever disal-
vantages II may have for this city It will
certainly huyo tho advantage OF tending to
make our moley and Investment market
more stable than formerly during the
second half of the year. The drain on this
city during the last six or eight weeks has
consisted largely in the exports of gold,
which have been made entirely at the ex-
pense of the banks. But for this. the sur
pl, 8 reserves would now stand higher than
usual for this season OF the year
As forcshadowed In our adv ces of two
weeks ago the outflow Of gold TO Europe
has been checked hy natural process. The
rise in the local rate OF interest has made
New York the best market for the en-
ployment Of the large Improbable Idle bal
auces Of Eur0pe.ard the result has been the
free lending by the correspondents OF for
egu nnkers, witch has checked the rising
teud9uey OF rates among our banks. How
far this drift may vet run romans TO be
seen. The excessive ease Of money at Lon
don and Paris still continues; and. with a
difference Of 3per cent between those cit
les and New York and the usual large fall
remittances 70 be made hither on account
Of cotton, II seems probable that the Euro
p2on markets will keep money compare
lively easy at New York for some time TO
come. This tendency lnuyt be regarded as
accounting for the mark d change toward
lower rates in the foreign exchange mar
ket