The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-30
The Stock Market Dull and
Weaker.
GOLD 1O1 70 A 100 IA.
Government Bonds Lower, States Dull and
Railroads Strong.
Money on Call Active at g 7
a & a 8 Per Cent.
WALL STREET,


TUESDAY, Jan. 29--6P
Tho passage Of the Matthews resolution by the
House Of Representatives 10 accepted as an almost
ioregone conclusion that tho Silver bill will become
law despite Of the Presidents veto. Its immediate
Effect to-day to advance gold to 1925 TO dcprcss
United States bonds upon the London market by Z
10 ~ per cent, and to nearly stop the demand Tor
shese securities here at home. The nrss step
toward smirching tho national credit taken,
and the unclean bird which is lowering legsla-
halls betrays evory intention OF further ouling
It's own nest II Is lamentable that the American
eaglc, diGusey spread and much Dragged OF,
should BIO caught in such dirty trick. but appear
against IL and she prospect is that we shal
be forced 10 change the Olympian bird, SO
long a representative Of national honor tor
the foul buzzard OF broken faith and reputation.
There has been nothing In favor Of q higher stock
market to-day, but every against It, Tho foreign
news slim aud sufficiently pronounced TO
Ioreshadow either war or peace; the silver madness
In Congress threatens TO consign all business intor-
ssts, commercial engagements and pending contracts
10 the chaos of financial bediam and the railroad
ieud offers nothing probable than bad blood,
worse earnings and protracsed wrangle Apropos
oil this latter, 1t Is understood that the railroad
ayers met this morning per appointment but ad-
Iourned until tomorrow. The Stock Exahange opin-
lon OF the matter is that existing differences between
The different roads Will not DO easily harmQnized, and
this impression unfavoraby Affected the market TO-
day. With the degree OF uncertainty attaching to
matters political and financial, II Is not be
aered at that speculation lay and that neither
bull nor bear was to be excited into action. Govern
ments have stated, were almost unstable
Though the desire upon the part OF foreign bankers
dispose of these securities and replace them by rail-
road bonds notable feature OF the market); rail-
way shares were without interest except to tho bears
who rathor couraseousy sold thcm and TO the bulls,
who, through timdity, did tho same thing while mis-
ceiianeous stocks were neither here nor there,
anywhere else, the days speculation. There
lIttlc hopes for immediate movement 'Change,
be they founded upon the stdtu quo ante beUum OF
railroad disagreement, upon the stau quo post BEL
lum OF European war. Neither condition is decided
enough attract prominent SPECTATORS and the pub
lie ~ large Is not sufficiently Interested 10 care
whether ''school Keeps nos."
OPENING PRICES.
The opening prices Of stocks at the Board to-day
were:-New York Central, l051; Erie, o.; Lake
Shore, 6lH; Wabash, Is; Northwestern, 365s; do.
preferred. e2X; Rock Island, 991s; Milwaukee and
st. Paul. 3sx; do. preferred, 69}4 Delaware, Lacka-
aud Western, 50hi New Jersey Central, Is !;
Delaware ana Hudson Canal 49, Morris and Essex,
TAX; Michigan Central, COS Illinois Central. 7414;
Union Pacific, 6s; Chicago ana Alton, 77k; c., C.
c., 81 Hannibal and ST. Joseph, 1l4; do preferred,
Ax: Western Union, 77s; Pacific Mall %.