The New York herald., 1879-03-26
FINANCIAL and COMMERCIAL
The Stock Market Dull
and Quiet.
Government Bonds Weak, States Dull and
Railroads Irregular
Money on Call Active at s g a
z Per Cent.
WALL STREET.

TUESDAY, March 25-6 p. M.
An old story tells of scarcrow erected in q corn
field ito fright the souls of predatory wild fowl as
being actually appropriated by the birds themselves
to purposes Of notification. familiarzed had they
become with its presence and SO little were they
alarmed by its counterfeit terrors Very much the
birds stood to the do the brokers stand to
the money market They beginning to learn that
tight money is but bugaboo after all. and that in
its contemplation they likely to be fright.
enedIthan hurt Some sober second thought of this
kind checked the sale Of stocks to-day. and was in
the afternoon even influential in strengthening
prices and converting the whole market from a bad
beginning> into very good ending. For want of
something better to trade on values werc rcgu-
lated by the complexion of the money market.
Nervous borrowers, early in the day. determining to
make themselves comfortable at any expense. took
time by the forelock and did their borrowing at.
seven per cent; later the less tinid obtained the
needfu at six. and toward the close bold borrowers
found all the accommodation they wanted at from
three to four In fact. the real rate of the day
six per cent. and have to know that large
sums offered to first class houses for any length
OF time at tins price, 1t by follows however.
that the period Of active money is The higher
rates likely to be the ruling for two three
weeks to come. since the Treasury exchanges by
means in satisfactory state. and the shipments
Of currency to the West and East account Of the
April Hquidations, have hardly yet begun. Never
theess. there is very little Of the insensate
scare to money squeeze left to
affect values and from its absence, perhaps.
rather than from any other reason, prices improved
and the market closed with the strength is did.
There were other things. however. which
helped matters The tunnel under the Detroit River
connecting the termini Of the Michigan Central and
Canada Southern roads is reported q fixed fact II
is to be built by Mr.. Vanderbilt at an expense Of
$1,50O OO0 to be taken FROM his pocket. will be
leased to the above roads at reasonable rental. aud
will completely remove the difficulties and expense-
particularly in wnter-which have heretofore inn
peded the transit of loaded cars over the Detroit
River. We have q semi-oflcial statement that the
comparative earnings OF Lake Shore for the current
month to date in Of last year by $83OOO.
The earnings Of the st. Paul road for the
third week in March show an increase Of
$1,000. Wabash remains nystcriousy strong
in spite Of the stories Of receiver being ap-
piled and the report that the books of the
have been ordered into court for examination.
Until late In the day the weakest stocks Della
ware and Lackawanna and New Jersey Central. Tho
first sold down upon reports Of the serious ILL
ness of Mr.. Moses Taylor. 1t shortly turned out
that although the stock was "sick" Mr.. Taylor was
not.
The man recovered of the bite.
The dog it was that died.
Not too dead. however. to obtain resurrection Of
some Il per cent. which it maintained at the close
In other securities the latent strength which has
left them. observable the day through and
sustained prices firmly to the end.
The opening. highest lowest and closing prices Of
stocks at the New York Stock Exchange to-day were
as follows:-