MONEY MARKET.
Wednesday, March I2-8 p. M.
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Stocks were very heavy to-day, and prices without
much alteraon-Norwicha and Worcester Reading Rail
road Penpsy bs Illinois, Ohio 6s and United States
Bank closed firm at yesterdays prices-Farmers' Loan
improved per cent; Vicksburg Il Long Island l. and
Morris Canal, I.


One Of the principal causes Of the depressed state Of
the stock market is the immense quantity of stock afoat
IN Wall street Purchases for permanent investment are
to very limited extent and very little stock taken out
Of the market The operations mostly confined 10
the brokers' and the stock is turned day after day
by the same parties without drawing into the street out.
side operators The brokers depend upon outside spec.
ualors TO relieve the Market and il is impossible to get
up any speculative excitement Of consequence without
the aid Of these occasional operators Prices many Of
the fancy stocks used for speculation 90 high that
requires more capital to carry thcm than heretofore and
weak operators cannot hold long in previous sea
sons The consequenceis very eversh state
Of the Market and the absence Of everything tending 10
advance prices.


The Stamp Tax bill which passed the Maryland House
OF Delegates and which had been rejected the
was called up 8gan the vote reconsidered and the bill
passed, and is now law.


very important decision has recently been made by
the Vice Chancellor Of this State In the OF Acke
man w. Ernutt schoyrer, he decided that
or trustee who invests the trust funds in bank stock is
liable for depreciation in its value for
tained upon it, although the instrument may be made in
good faith; that such vestment unauthorized and that
an executor trustee only be protected sgans risk
by investing ssch funds in real estate security or in pub
lie stocks approved by the Court.


We annex statement showing the leadug NOV ements
OF the chartered Banks in Canada taken from their
turns laid before the Legislative Assembly These re-.
turns were made in December, and the condition of the
banks at that time compares with the reports banks
made in August, as follows:-