Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-02-23

New York. FEB. 22.-The develop
ments of the week In the stock eN-
change markets have been In the main
favorable to higher prices, although the
actually new influences have been few
in number,
The entire absence pf strlngency in
the money market, encouraging exhibits
of railroad earnings. indications ui an
easier market Tor commercial paper
and the large deposits of gold at inc
sub-trcasury here and with other de-
positOries ON government bono account
have had a stimulating effect. The
prevailing belief that the net results
OF the bond sale to the treasury would
be considerably in excess of previous
estimates and confident expectations
OF the completion OF payments WITHIN
the next three weeks and without u.s.
turbance to the money market nave
stimulated and revived purchases or
our securities for foreign account. TO
ward the end of last week the
higher quotations from London AMI
the buying referred 20 constituted
an important bull card, and
encouraging TO the local dealers,
who had assumed that the advance
had about run its course Al inter-
walls the stock market had appeared
through intense dizziness TO Justify this
theory, but fresh start followed the
development of exceptional animation
and strength in the railway bond mar
ket The transactions in both govern
ment and railway securities reached
ABNORMAL totals on buying for both Ia
vostment and speculative account The
news OF the decision of the treasury de-
paitment to award the A,700,UOO OF bonds
on which the payments of the first in
stallment had been defaulted to the
J. p Morgan syndicate was almost I'M
mediately reflected in buoyant mar
ket for the bonds. The development
| excited logical assumptions that to
the great banking syndicate was chiefly
| due the credit for the Improvement
The declaration of the regular quar-
/ terly dividend by the directors Of the
J Burlington railroad appeared to exert
! an unexpected favorable effect on the
l stock of that company as well as on
/ the other grangers St PAU mas been n
I favorite among domestic and foreign
dealers in anticipation of large earn
/ ings on account of the common dlvi-
{ dend 1t Is encouraging to note that
I the general market has evidenced re-
/ ylval of genuine Investment demand
I for securities and less strictly profess
/ sional control of operations. The indi-
\ cation holds good only 10 limited eN-
| tent. however. in the case OF the in
dustrials. whose course continues to be
dominated by leading spectators and
pools. At the beginning of the week
| the last mentioned class of stocks
monopolized attention, but the railway
| groups soon forged to the front with
| the grangers and international shares
In greatest demand. 1t cannot be dis
guised that the revival of the foreign
inquiry for our securities and notably
| FOR our gilt-edged railroad bonds was
| due primarily to the belief abroad that
| further free silver agitation during
this session of congress is impractic-
| able.
Sales. 7gi,1i7 shares L. and N. gain
| ed 33-4; Leather preferred, z: sugar,
| rs. and tobacco, 5-S.
The granRers gained 3-SI2 S-s: the
last In St Paul.
The principal net gains In railroad
bonds were St. L. and S, Il. trust hves.
| ale, Kansas Pacific consols trust re-
celpts, Q 3-s: Fort Worth and Denver
| CITY first trust receipts, BIS; Atchison
adjustment fours. 2 "a; Union Pacific.
| Denver and Gulf flrsts. 2l-2. The total
| transactions were lO.5i0.0oO.
| The business in government bonds
was largely confined to the new tours
ooupon. The demand for these Issues
was very pronounced at figures rang
| ing between li6 S-s and IFS. Total sales
| ys.767.9jO