The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-12-06
FINANCIAL and COMMERCIAL.
A Dull and Steady Market
for Stocks.
MONEY RULES 6 TO Z.
Governments Active and Stronger-Rall-
way Bonds Dull and Heavy.
WALL STREET. |

FRIDAY, Dec. Do +. M
1t is beginning to be appreciated by commission
brokers that the late serious drop In stocks enectu
ally killed the speculative goose which had been lay
ing the golden eggs for their benefit. From having
had too much to do they having too little
Orders which couple OF weeks back thick
as leaves in valombrosa. thinning of to skele-
ton proportions and there is . general wall among
the commission men, who neither understand the
change like it. In comparison with the pethorc
times of the last month or two to-day's market was
duh one indeed. 1t "hands Off, regarded
the great spectators and q very gingerly lingering
regarded the small ones. The natural conse-
quence ensued OF inactive market. immaterial
variations and q dearth of interest generally.
Could one examine into the viscera OF bulls and
bears las did the augurs Of old). for forecast OF
the future it is probable that nothing satisac
tory could than that the evidences Of
dull and steady market for some weeks to come are
strongly developed and that there arc reasonable OK
pectatons of higher and buoyant ono after the turn
of the year. The whole market to-day slug
gish. The Northwestern report. which is certainly
, very creditablc. had in great measure been dis
counted consequently failed to affect the market
price. The Eric report fell fat and the fluctuations
in the stock. such they were. moro affected
by the demands Of traders than by the state
ment of the company. To the uninquisi-
tive observer the report is q good one. but
when considered in the light Of the fact that al
though the payment OF interest on large proper
ton of the bonded debt Is escaped for this year and
will be for the next three years to come 1t neverthe
less becomes inevitable In 1884. glance At the re-
port renders 1t apparent that tho road will have to
increase its earnings very considerably in the interim
to enable it to meet It's fiscal charges the above
date. The San Francisco stocks lower to-day
and were the weak spots in the market. The coal
shares only Coal is being sold from fifty
to seventy-fve cents below the schedule price:
hence we presume Mr.. Governs bid. Us conveyed in
his letter in the HERALD OF this morning. for 1.-The
entire product OF any other company 1T twenty i've
cents per below its present circular rates. has
been accepted. On second thought. however.
and in consideration Of the circumstances
which attended similar purchase. under the
same sort Of bluff bid. perhaps it has
not. Apropos OF the coal stock. it would
appear that the story rife yesterday that the
New Jersey Central road was applying for vacation
the recevership is 1t is said to apply
more correctly to the Lehigh Wilkesbarre Com
pany. who asking to be relieved. There was no
feature in the market worth commenting Tho
Philadelphia market opened lower and weak. PENN
sylvania Railroad selling ut sos. Reading at san
and Lehigh at 37A. With the exception Of Reading
which rallied to 35s (but afterwsrd fell off tho
whole list dragged and became lower and sluggish
price of Pennsylvans Railroad ~ 1t 5Oh S0h and
Reading at 345s y 34A.
Total sales ut the Board only l8S.S40 shares,
against 26l 1877 yesterday and 31s445 on Wednesday.
Following is synopsis of to-day's transactions