The New York herald., 1878-01-18
The Stock Market Dull, but
Steady.
GOLD 1O2 A 1O2 1-6 A 1O2.
Government Bonds Steady, States Dull and
Railroads Strong.
MONEY ON CALL EASY AT 7A4 PER CENT.
WALL STREET,
THURSDAY. Jan. 17-G Z. !

THURSDAY, Jan. l7-6 L. NJ
The Queens speech on the opening OF Parliament
almost the only event to create ripple upon the
otherwise placid surface OF dull and uncventful day.
In TACT, there very little even In this to shape
pubic opinion as tn the probable action OF Great
Britain IN tho existing imbroglo, 1t that tho
concluding phrases OF the skeleton report ntimatcd
that while England was not actually "spoiliug for
fight" 1t was high time to get her readiness.
Accordingly, tho Queen politely asks Of her loyal
hegcs In Parliament assembled to accept her little
bill for necessary shond 1t be upon
her to draw It. Tho point 10 whether the speech
meant war or war soutiy argued rs a
question before country debating society, aud
though no satisfactory conclusion to tho
fall Of x per cent in consols and the decline "Amer-
leans" urged much testimony for
lne side of the affirmative. Tho eject upon the share
market, under the we'll worn theory that a general
would result greatly to the advantage of this
country, was to advance prices few fractions,
though 1t failed to maintan them at the end. Open
ing figures the best Of tho day. for after tho first
half hour general decline set in which was in turn
checked described, by the Parliamentary news.
II appears TO be conceded by all hands-by Dives,
who, when the voice Of the ''tickor'' Is nome ntary
hushed, peers at pink bonnets from bow window,
pour pdsser e tempsby the Silent Ono, who turks in
Forty-scvert street basement. wired to his tee-
graphic connections like bottle Of Mumm (which
is an appropriate simiel as we'll by the poor
brokers in tho street who essay to pick up the
crumbs Of commissions that fall from these
rich mems tablcs-that the market just now
is 'weary, stale, fiat and Improbable" Why 1t is
is as perplexing as a Chinese puzzle. Regarded from
a bull standpoint thcre seem to be sufficient
why prices especially OF railway shares should ma
torally advance kilograms from Chicago and Mil
waukee to-day report heavy receipts of cereals and
produce; the earnings of the trunk lines are up to
their capacity for transportation, and the St. Paul
road (or which figures givcn) is stated TO have
gained for the second week in January 500 600
tho earnings Of tho came period of last year. On
the other hand bulls dyed in the wool (i such an
Hlbernicism is aowable) still harping upon the
assertion that crate cutting is epidemic sease
among tho railroads, from Central and Hudson down
TO the smallest ieeder-a disease all the more dan
gcrous, like suppressed measles for instance, that
IL is hidden away and developed in any open and
cutaneous manner II is fair to say that this i'm
putation Is denied by the managers OF the
suspected roads, and as they call honorable men,
their word should be taken, particularly since the
traffic offering precludes any present necessity Of
either ''cuttng under' or of lying about 1t. with
the settlement Of the coal combination has drfted
away most of the speculative interest Anthra
cite shures AS as these companies begin to
play fast and loose with each other (Which epoch
most probably some distance this side of the mil
lcnnium, unless that beautled period occurs within
the thirty days), will be excited
ana we shall bc called upon TO record fresh specu-
lation. Until then, "uale" In general terms to-
days market may be described the dullost Tor
weeks back there being nothing either IN OK
tent OF fluctuations or volume of transactions 10
call for comment.
of cl-cn pcor Jo,,
ns follows: New York Central l061 Erie 9l4; Lake
Shore, 6las; Northwestern, S6S do preferred 62%;
Rock Island, 99h; Milwaukee and st. Paul, 3ST; do
preferred, 6o4 Delaware, Lackawanna and Western,
BLK; New Jersey Central, II; Delaware and Hudson
Canal, 51E Morris and Essex, 75A Union Pacific,
67si; Chicago, Burlington aud Quincy, 1024 Hanni-
bal and St Joseph, 1l7S do preferred, 2l.; Ohio
and Mississippi, IA; Western Union, 7osS Pacific
Mail. 237S.