The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-06-23
STOCKS DULL, WEAK AND DECLINED.


The stock market was weak and sensitive after
the sharp decline OF the previous day, and in the
absence OF any equally sharp recovery In Ohio and
Mississippi, which was expected the sequence OF
the return OF its patron to the street, prices hest
tated and declined. The apathehc feeling was gen.
eral, and suggested the prophecy that the .'bus''
win have no easy task to bring the street into the
buying mood again. At the same time the feeling
that 1t Is highly impotlc to sell specuatIvely in
time OF easy money kept the whole market dull
The Long Room was right in the opinion
which we printed last Monday, that "there
10 no money In the market just now.r The .'bulls,r
at the same time. 1t VIII be remembered pictured
most glowing cou,eur de rose future for everything
dealt In at the STOCK Exchange. The unucky few
who were induced TO buy stocks last Monday morn
Ing should bring suits for damages against tie mer-
cenAry expounders or these views. who were tile
TOOLS II not the allies OF the cliques unloading
upon the public. As the day wore on Pacific Mai
headed q fresh Decline its weakness being due 10
the posponement for the session OF the whole ques-
tion Of Congressional subsidies to steamship lines
The simultaneous decline in gold and revival OF the
Senate Currency Contraction bill III the Conference
Committee OF both houses produced q pressure TO
sell the general list The railways all broke down to
prices In most instances lower than those reached
the day before, the market being weakest and
heaviest at the close or street bu sness. The
Northwest shares touched SO, and Lake Shore
s0Sz. The directors OF the latter road meet to-
morrow to declare the semtannual dividend. The
amount expected Is TOUR per cent which Will, it
thought, be provided for as was the previous dvi-
dend, when the company issued $2O0O,0o0 OF new
mortgage bonds. The earnings of the road have
been decreasing for the past six months and the
treasury Is but scantly supplied. These latter facts
however, are no detriment in these days to divi.
dends In fact from the manner in which railway
are managed nowadays 1t makes no real difference
to the invesi or in the long whether roads are
d vidend-paying or n0n-dlvidend-paying.
GOVERNMENTS DULL AND LOWER.
The government market was duh aud steady until
late in the day, when, IN sympathy with the decline
in gol prices fell on about threc-eghtbs per cent
for the more speculative issues the absence OF deal
ers In the other classes OF bonds preventing any
terial change In their price, The following were the
nnal quotatons:-Unted States currency SKIES, 1lah
lax; do, SKIES, 1884, registered 1l4a lis; do.
do, coupon, 11SH 1881; do. fve-tweniles, regis
tered, May and November, 111I@ l1lis do. do 1862
coupon, d0 112 1121S; do. do, 1884 do. d. 1llss
. l1lh; do. do, 1866, do. do, 1l13s HE; do.
do, 1885, coupon, January and July, 1lSts q 1873;
do. doc 1857, do. do. 1l3sS 1l3s4; DO. do 1858 do
do, 113As ll37s; do tenIortes, registered, los
1854; DO. do, coupon, 1854 1881.
TIE MONEY Markell
Money was easy at three per cent on governments
and at four to five per cent on stocks. Commercial
paper was quiet and unchanged. Foreign exchange
WAS lower, the nominal quotation Of the prime
bankers for sixty days, sterling, being 1os; from
which they allowed commissions OF u sixteenth to
an eighth per cent.
HIGHEST AND LOWEST PRICES OF STOCKS.
The following shows the highest and lowest prices
TO-DAY for the lea ling gOeculative suaras.-