The New York herald., 1879-03-08
FINANCIAL and COMMERCIAL.
The Stock Market Less Ac-
tive and Higher.
Government Bonds Firm. States Irregular
and Railroads Strong.
MONEY ON CALL EASY AT sA A PER CENT.
WALL STREET,

FRIDAY. March TO p. NJ.
Az has happened for some days past the brokers
had the market to themselves to-day and made the
most out of it. though the results were next to
nothing so far as profits were concerned. Business
until toward meridian was dull. and prices were
irregular. There was conspicuous absence of
orders upon the part Of large traders. and very
visible presence of indecision upon tho part of small
ones So between the disnclination to do anything,
shown by the Brobdingnagians, and the ignorance
Of what II best to do. as exhibited by the Lpu-
tians. the market bade fair to turn out the most
stagnant of the year. After midday. however.
turesome bull or two, wearied with chewing the
cud of idleness. to the rescue and tossed
up prices In way which, though fractional.
was better than no toss at all. Conse-
quently the greater part of the list gained
few eighths and quarters upon opening quotations
and retained them to the end. Delaware and Lacka-
wanna topped from its feebleness OF yesterday
into condition Of considerable strength to-day.
There occurred moderate buying of long. but .
much more important buying Of short stock. It is
given out that the price will be advanced to 53. In
arithmetical sense the figures may be correct but
It is quite possible that the S may have been placed
on the wrong side Of the "5.' Western Union ad-
vanced nearly one per cent. There arc excellent
for believing that the long expected division
of reserved stock will be made early next week. and
1s Qulte upon the carOs tnat Cne caplthi Will DO
marked up to $50 000.0 900, upon which dividend Of
~ per cent will be declared Further than
this, in the event of certain negotia-
tions pending being brought to salts
factory issue, any antagonism which may grow out
Of the passage by Congress Of railroad telegraph
bill will be greatly modified, If not completely set
aside. Kansas and Texas advanced per cont. It
is reported that the Burlington and Quincy Company,
which aspires to control Of the property will pro-
pose to substitute Ave per cent bond Of their
for the first mortgages outstanding Of Kansas and
Pacific at least make satisfactory guarantee
for their payment in return for the benefits which
will accrue from obtaining possession of the road
Michigan Central. weak ut time, grew stronger
toward the end. Gould appears to take especial do
light in q monotonous pounding Of this stock,
which never rises to the dignity of at
tack and is weak enough to oc-
cur without making q momentary impression.
As the road is known to be doing the best of all the
Western hnes-the earnings of January and February
being equal to per centit is likely to stand good
deal Of hammering without material damage. Wheat
is reported to have fallen cents per bushel in Chi
cago and fact is interpreted favorable to
creased traffic over the trunk lines which will
vey It to market. Possibly for this better
tone was given to prices in Anal dealings
The opening. highest. lowest and closing prices of
stocks. the New York Stock Exchange to-day.
r~11~.