The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-11-25
FINANCIAL AND COMMERCIAL
Stocks Feverish and Weak
Throughout.
MONEY ON CALL 6 TO Z PER CENT
Smaller Volume Of Business at
the Exchange.
WALL STREET,

MONDAY, Nov. 2-6 +. M
To-day's market neither very strong nor very
weak. Something bctwixt and between Was about
the record. While the inex experienced bulls imagined
that the rebound of Saturday assured ayaway rise
to-day the cold files of the Exchange imagined
nothing of the sort. They 10th to believe that
the serious decline of last week could be recovered
from i'll the short space of some ortyeght hours OF
that market which had been hit SO hard between
the ''faco and eyes" could have quickly come up
to the scratch. In this they were right for
both in the volume Of transactions ana
in the magnitude of fluctuations to-day's
business fell materially behind those OF the
preceding week. As we ventured TO predicI'
to-days market has been marked by an irregularity
Of prices and gene-a ndisposition to venture into
further speculation. Outside operators have been
hard hit and inside brokers doubtful as to the
future. Margins among the former have been wht-
tied down. and tho faith OF the latter as to higher
prices considerably lessened. The bubbling up OF
Saturdays closing prices evaporated before MONDAY
Prices dropped and values shrunk throughout
the list They had been put up Saturday by the
covering of shorts and by considerable buying OF
long shares at depressed prices. They were put
down to-day by the sales of this long stock
and by very considerable desire to sell for
tho short account While it is generally con-
ceded that the prices Of stocks not likely
to go lower 1t is agreed that there is little prospect
of their going higher in the immediate future. AL
though the recent collapse did not murder anybody
outright. there some wounds inflicted that re-
quire nursing Until these healed there Is not
much prospect of renewed and vigorous bull
market comparatively dull business attended by
unimportant fluctuations would appear to be the
probabilities of the immediate future. The next six
weeks will be broken Thanksgiving Day. the
opening of Congress and the Christmas holidays
will be all 30 many checks to the current of the
market While the holidays will tend to break
into the course of speculation and render
things dull, the great probability that Con-
gress will. shortly after it convenes. discuss
the proprety Of retiring the legal tenders will rem
der things duller. Until all these things out of
the way, therefore. it is reasonable to suppose
that stocks will remain dull and that tho market
will be excited by prices either greatly higher or
lower. premonition Of this sort seemed to infiu-
ence the market to-day. Prices were higher in the
morning and lower in the afternoon, but changes
immaterial and there was no excitement The
buyers OF Saturday sellers to-day, and conse-
Quently the market closed ut lower figures and only
fairly strong. Our Philadelphia despatch reports
market which in its changes closely reflected our
own. Reading at the opening sold at SO, Lehigh ut
3914, Pennsylvania Railroad at 49S and Lehigh VAL
ley at So. Before noon. however weak feeling set
in and prices were all lower by y to per cent.
Later on prices were still lower. and the worst
prices Of the day made at the close, Reading
being 34A. Lehigh 3sH. Lehigh Valley 52A and
Northern Pacific 49, The general market closed
heavy and irregular with no signs of an improve
meut for tomorrow. In our Mining Board there
was u lair business done. but with little change in
prices Hulwer stronger, with sales at los, and
some spirit was manifested in Bodie reports
from the mine that tho new pumps have been salts
factorily put to work the extent OF lowering the
water in the mine by some thrty-fve feet.
Total sales at the Board 44s. 2G5 shares. Fol-
lowing is an epitome of the Transactions