The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-03-23
The Stock Market Dull
and Steady.
THE BANK STATEMENT.
Government Bonds Weak, States Dull and
Railroads Irregular
MONEY ON CALL ACTIVE AT SAT PER CENT.
WALL STREET,
SArTTRDAY. March DIT =. M.

SATURDAY, March 10 4. NJ
The sleepest market of the year yawned through
to-day's Stock Exchange hours. Whether specu-
lative traders had medicined themselves with
poppy and mandragora." the custom in
Elizabethan times, had fuddled their brains with
the more modern and familiar narcotic contained in
bitter beer, whether there existed some other
somnoent principle, less material but more active.
that had set them TO Sleep is matter of conjecture
1t is matter of fact however, that in speculative
sense the ordinary traders in the market remained
in profound slumber, the meagreness of deal
ings the paucity of fluctuations and the absence Of
all excitement plainly testified to. Consequently the
day may be recorded as the dullest of
the dull-a day which no white chalk
could into prominence but that
might be sponged from the speculative cal
endar without being missed by either bull or bear
The real explanation Of the prevailing drowsiness is
to be discovered in the fears of money stringency
which have narcotzed, business like asubcutaneous
injection of morphine So far was expressed by
the sharp demand for accommodation which pre-
vailed at rates ranging from six to seven per cent.
these fears were borne out to-day. The demand was
brisk the morning through and became pressing at
the end. when seven per cent was bid without elicit
ing any abundant supply of the ready" although it
did not appear that anything in the nature of a
shave extorted in order to permit the making
up of bank accounts. The money scare, however. is
strongly reflected in the share market, which, under
the ban, has grown inactive and heavy. Prices
tending lower in sluggish way from the supply Of
long stocks which holders are selling out with the
anticipation of buying them back when the
furry is without the least loss of faith in the
intrinsic merits of the properties themselves there
exists amible disposition upon the part Of hold
ers to SHIFT the weight of carrying them to other
shoulders until the tide turns. Under this constant
dripping of long stock prices being slowly worn
away and are likely to continue to be away
til the knk in money shall have been Strengthened
out and the upward turn. sharp and decisive. shall
vous to the 10th OF April and until this period the
market is likely 30 browse along in its present apa-
thec condition. Although changes i'll values to-day
were of the slimmest description and unmarked by
anything more important than a fractional decline
in the morning and fractional rise in the afternoon
the tone of the market was that Of indubitable
hrmness. This was in great measure due
to the bank statement, which showed increase
IN S2s3. 475. instead of loss. as
ticipated- The shipments OF currency to New Or
leans, which estimated to be about ST. SOC. 900
$20OO0O0, are. however not fully expressed in the
present statement and may show disadvantageously
next week. Taking everything into consideration,
the share market appears to be-remarkably strong.
although possessing traits of hybrid nature which
may be described consisting of bullish feeling
combined with bearish tendency.
The opening. highest lowest and closing prices of
stocks at the New York Stock Exchange to-day were
as follows