The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-12-19
FINANCIAL and COMMERCIAL.
The Situation in Wall Street
Unchanged.
GA BROKERS' MARKET"
Stocks Rally Slightly at the Close
Of a Weak Day.
WALL STREET. |
THIyRsDAY. Dec. lS-6 L. M,

THURSDAY, Dec lS-6P M.
To make an article out of the occurrences OF to-
days stock market would be to take example from
tailor who "builds out" q slim customer by pro-
cess Of padding" AS we do not propose to follow
suit to the tailor we have little nothing to say
There were the usual number of nursling bulls and
bears in the market. but appearance Of full
grown ones. Stocks were made fractionally better
or worse after infantle action, but there was no
indication that the heads Of the families were In
terested way or the other. 1t was consequently
. brokers' market. pure and simple. ana Win
nothing in it. 1t case Of ''er nn'o nihs
it," which provided no profit to the specu-
lator and information to the historian.
Changes to-day were confined between narrow
limits, and transactions tapered OF accordingly.
GU Citations lowered between weakness and strength
with toward the latter Atleast there
was considerable leaning toward hrmness. as the
rather better prices at the end went to show. AS
whole, however, the market was meaningless. There
was Q good deal OF strength in Eric and Kansas and
Texas. and in opposition. good deal OF weakness In
the coal stocks New Jersey Central was especially
inclined to droop. So were the San Franciscos.
although OF the managing directors made rather
marked efforts to support them We are informed
that Mr.. Morgan's resolution. introduced yesterday
In the Senate. calling for conhscation Of land grants
awarded certain railroads. does not apply.
ported from Washington. to the tenure OF the Iron
Mountain road. stated. It is said that this
road has long since complied with the necessary
stipulations. This correction would seem to be
we'll founded judging from the demand. public and
private (but especially private made for bonds of
this corporation to-day. The first mortgage bonds
Cairo and Fulton pranch which selling at about
1o with accrued interest OF 81 per cent. to be paid
January were in large request to-day. As there
fs every reason to believe that the same rate OF in
terest viii be faithfully paid each succeeding six
months in the future the purchase would seem to
be safe stated meeting Of the Erie directors
held to-day, but we learn nothing OF the pro-
ccedngs beyond the that the earnings for
the last two months reported unexpectedly
satisfactory. The market closed duh it had
opened and continued the day through. though
prices were shade better at the end.
We receive the following from Philadelphia
1.-THE market was left almost entirely in the
hands Of the speculative brokers; there was
scarcely legitimate order in anything. and fuctua-
tons were unusually light. Whatever changes &C.
Cured were in favor Of lower figures. Northern Pa
einc common declined to 3lA and preferred to 81.
Beading fell to 33X and Pennsylvania to 50h. The
market closed very dull at quotations. Messrs. Cad
waader Evans Co. report the closing prices Of
Pennsylvsnia at 5Oh a5OA and Reading at 33X SA.'
Total sales at the Board to-day were 197 $40 shares
against 194. $50 yesterday and 25S000 on Tuesday.
Following II synopsis Of to-day's Transactions