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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Apr 27, 1888
Page
6
The Boston money market remains ample with loanable funds in excess of demand. Clearing house rate sits at 3 percent while corporation paper trades around 4 percent and time paper 4 to 6 percent. Calls with collateral run 3 to 4 percent with large offers. exchange data show lower activity than a year ago.
Rand & Avery declares 14 percent quarterly dividend. Mechanical Refrigerating Company pays $3 per share. Sewall Safety Car Heating Company Portland Maine 1 percent quarterly dividend. Bay State Gas 2 percent on $2,900,000 capital. Syndicate earns 6 percent from Roxbury South Boston gas interests and Boston Gas Light Company largest individual holding. Dividend payable to full paid certificate holders of record May 1, payable May 7.
New York reports money on call easy at 2 percent, prime mercantile paper at 6 ½ percent, bar silver 92, sterling at 4.86 to 4.89 for bills. Government bonds dull and firm, railroads active and strong. Stock market remained active yet erratic, with initial gains fading after 2:15, then rebounds and further volatility. Late trading showed a heavy close with small concessions from highs. bonds and various trusts posted mixed moves, with notable activity in Texas Pacific Rio receipts and other railroad securities.
New York stock transactions on April 26 total 417 820 shares. The report lists the shares sold and the opening figures for the day, reflecting trading activity across listed firms and market makers.
Atlantic and Great Western firsts reach 384 while seconds stand at 7. Erie listings show 27 percent and 101 percent for Erie seconds. Illinois Central at 12384 and Mexican ordinary at 4734. St Paul common 754, New York Central 100 percent, Pennsylvania 5655, Reading 8244. Open-market discount: short bills 1.14 and three months 1.3. Bank of England bullion withdrawn £100000. reserve to liability ratio 40.84 percent, bullion decline £256000 weekly. Paris weekly Bank of France gold up 4,000,000 francs and silver 1,275,000 francs.
The article lists March 22 to April 7 1888 contributions to the Kindergarten for the Blind totaling 23 121 08 after 21 094 833 previously acknowledged. It notes 22 children admitted since last May and calls for a permanent fund of 100 000 to cover annual expenses of 5 000, with 23 000 received so far. Edward Jackson, treasurer, 178 Devonshire Street, Boston.
Tuy A Tony or CAREFUL JOHNNY in G. W. Simmons & Co. advertisement jests about boys liking clothes that hide sins after rough play. It notes suits priced at $286 or $119 and claims a grand sale at 32 to 44 North street.
Leather and hides unchanged Boots and shoes dull Flour firm Corn firmer Oats stronger Cornmeal firm Oatmeal steady Rye quiet Rye flour quiet Milkeed very steady Cottonseed meal in good demand Barley steady Hops daily Malt quiet Butter quiet but steady Cheese fairly steady Eggs steady Beans in fair demand Potatoes plenty and dull Hay steady Rye straw firm Poultry quiet Apples slow Oranges fair Lemons unchanged Pork firm and in good demand Lard steady Beef quiet Fresh beef firm Mutton steady Lambs firm Veals unchanged Truck in good demand Raw sugar firm Refined sugars active firm Molasses unchanged
The boot and shoe trade remains weak as buyers retreat with few orders. Fine ladies and children's goods lag, Lynn and Haverhill makers see mainly small orders, wax goods booked well in advance, brogans mid at best, calf boots steady yet prices uneven. Rubber goods and lawn tennis demand stay strong for next season. Shipments show mixed totals across weeks and years.
Leather markets remain dull with steady prices across finished and rough goods. Demand shifts include moderate home demand for buff and fair export movement, while West ern buffs weaken and hides stay quiet, with specific price ranges for calfskins, splits, wax leathers, and dry selections noted.
Market began with free selling in wheat as bulls and bears common bets driven by warm weather and rain forecasts for much of the winter wheat belt. Cincinnati Price Current hints at an 45 million bushel crop drop across Michigan, Indiana, Ohio and Illinois. Kansas crop outlook improves. Corn oversold, shorts eager buyers. oats rise with dry weather. Provisions dull. Hogs receipts yesterday 18,539. today estimated 25,500. Tomorrow’s car lots: Wheat 51, corn 230, oats 110.
At the London wool sales on April 26 an average turnout and softer bidding were reported. New Zealand consignments totaled 3600 bales with various grades including scoured and greasy locks and pieces. Victoria offered 8800 bales, with results cited for different qualities.
Scoured locks and pieces and greasy consignments reported from South Australia New South Wales and Tasmania with bales numbers prices in pence shillings and pence. Entries note greased locks and pieces and various small consignments including a single bale from the Cape Good Hope and Natal and another from Queenland.
The article explains a reorganization of market coverage by the Post. Telegraphic reports on commodities will now follow the Boston market report on the same item. Local market data are presented alongside national figures for a complete view.
Local market report shows firm flour and grain prices with winter wheat shortages. Quotes include multiple flour grades, Minnesota and Michigan futures, and New York receipts. Corn and barley markets are firmer with steamer grades and bids listed. oats, rye, and meal prices noted across Chicago Milwaukee and Toledo exchanges.
A quiet demand persists for butter with steady quotations. Small lot sales fulfill immediate needs as Western creameries show ample supply and price ranges vary from 22c to 28c for different grades. Vermont and New England outputs list at 25c to 28c, with terms reflecting firsts, seconds, and imitation varieties.
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