The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-12-05
FINANCIAL and COMMERCIAL.
The Stock Market Dull and
Fluctuating.
A BRISK RETAIL BUSINESS.
Money Closing Easy at 6 to 7 Per Cent and
Government Bonds at 5.

As we have had occasion to intimate would be the
case. the stock market has got into net which the
feeble attempts of the smaller bulls and hears who
Mt the moment solely conspicuous. are unable
TO extricate it FROM Prices to-day fuctuated within
the limits and three per cent but the changes
were meaningless. There brisk retail bust
ness, but nothing in the Wholesale line. The big
operators apparently biding their time while
the small doing their best to turn honest
penny by traffcking in eighths and quarters. In
word the market dull ono comparatively
speaking, and from appearances it is likely to
main until after the year. moderate
amount of Utilization. administered in q subdued
form, excited the Northwestern and Erie
shares to some activity. 1t well under
stood that meetings Of both of these companies
to be held to-day. declaration of o dividend
expected from the first, and an election OF
officers, which would or would not afford some evil
dence of the Vanderbilt control, was expected from
tho second In both instances tho street was in
measure disappointed. The Northwestern people
declared q three per dividend instead of one Of
three and half per cent. the majority OF hopeful
holders anticipated, and the Erie people adjourned
without changing their old officers. Both companies,
however publish reports Of their business which
are decidedly favorable. After paying the dividend
the Northwestern road claims to have on hand
surplus Of ST. 270. sos, and the Erie road exhibits
surplus of Sl,3l61O4 IS. There will be no
dividend from this road however. the above
sum. together with S2.0O0.O0O additional tde-
rived from assessments account Of recon-
struction). having been expended on improvements.
For details reference is invited to the statement
printed below There large transactions to-day
in Kansas and Texas points. freely supplied, to
buy the stock. 1t is expected that Congress Will
positive action toward opening the Indian
Territory during tho present session and the price
advances upon this probability. There was no par
ticular change in tho coal stocks. Spectators.
however. somewhat puzzled as to why the anthra-
cite companies should desire to restrict production
when according to their account there exists
unusually great demand at remuneratve prices. The
letter of Mr.. Gowen, however. which Is printed IN
another column may afford solution to the enigma
which we unable to do. From Philadelphia
shares of Pennsylvania Railroad stock from
the CITY, back to the railroad. made at noon to-
day. In its results the transaction proved to be
disappointing to the traders in tho stock. An
ticipating boom result Of the transfer they
had loaded up at yesterdays closing figures Of 51M
q 81 n, and found themselves in the vocative whom
prices fell off to-day TO 5OA 50%. In tho general
market quotations dull, in which respect they
were closely initiative of those prevailing here.
Total at the Board to-day 261 7S7 shares
against 3l9.445 yesterday. Following is . synopsis
of the days transactons:-