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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Apr 29, 1887
Page
6
The Boston money market firmed on April 28 with higher demand for accommodation and tighter supply. Bond and stock activity surged with Atchison and Mexican Central gains, Union Pacific volatility, and Boston area listings rising on lease news and consolidation talks amid a broad shift in York funds and London prices.
The Chicago Burlington and Quincy Railroad Company proposes issuing up to 12 million dollars of new mortgage bonds at 4 percent, secured by mileage and assets, with a limit of 1500 miles and additional 10,000 per mile for second track. Bonds mature in 1927, payable to bearer or registered, with selective buyback at 110 plus accrued interest. Subscriptions open April 26 to 29, 1887, with delivery likely May 2. Simultaneous emission to Bern by PinLinei Hanvels Gesellschaft.
August Belmont & Co in New York Lee Higginson & Co in Boston Kidder Peabody & Co operate in New York and Boston on April 26 1887.
Between CAS tral Iowa eastern divisions advanced 4 to 171 percent while Chicago and Alton sinking funds rose 2 to 12744. Erie first consols moved 1 to 134 and New Orleans and Mobile seconds 11 to 99. Mexican Central 48 rose 1 percent to 6514. Pacific of Missouri seconds 7 to 110. Green Bay firsts declined 1 to 106 and Indiana Bloomington and Western second certificates 1 to 84. International firsts 1 to 119. St Louis and Cairols 1 to 73. Missouri Pacific consols 1 to 118. Virginia Midland incomes 1 to 96. New York stock sales April 28 total 217,635 shares with opening, high, low, close and prior close data.
Consols at 10211-16 on money and account. United States 4s at 152. Atlantic and Great Western firsts 485%5. Canadian Pacific 65%. Bank of England rate 2 per cent. Bullion at Bank of England up £114,000 last week. Bank of France weekly statement shows gold specie up 1,550,000 francs and silver up 6,400,000 francs.
The session opened quiet with minor moves across most stocks. Late in the day New England, Northwestern, Manhattan advanced, while the afternoon slide left prices near the day’s lows and bonds sold around $1.23 million with Atlantic & Pacific income at $150,000.
A long list of transfers and mortgages dated April with amounts from $500 to $12,500. Parties include Timothy D. Baker Joseph A. Jasigi Citizens Mutual Insurance Co and numerous banks and trust institutions across Boston area neighborhoods. Properties span Albany Broadways Chelsea Roxbury Charlestown East Boston West Roxbury South Boston Allston and Dorchester banks.
Leather improves while hides, rye, oats, oats meal and various grains hold steady or dull. Flour, malt, millfeeds, butter, cheese and eggs remain firm with little price movement. Potatoes, hay, straw, grass seeds, truck demand and provisions stay steady. sugar and molasses unchanged. fresh beef firm. apples firm. No change to note in poultry.
The South and West see large buyers in shoes as strikes and goods shortages spur orders. Factories push boots and five goods for women, with heavy demand in calt boots and rubber lines. Forwards rise to 47,264 cases this week, up from 46,664, while year total trails last year.
Reports from Minnesota Dakota and northern Wisconsin indicate seedings ahead of schedule and favorable moisture. More acreage and earlier planting suggest a big wheat crop this year potentially surpassing the 1884 record, with strong domestic stocks and rising foreign demand supporting good prices for farmers.
Leather and hides market shows steady demand with firm prices across categories. Hemlock sole leather and finished upper leather maintain strength while finished calfskins weaken. buff and grain leathers hold or rise modestly amid light supply and active inquiry for East India tanned skins.
The flour market remains firm yet quiet with light sales as buyers stay cautious. Corn and oats show limited trading and stable quotes, while millfeed and rye hold steady. Butter and cheese markets are steady across cities with light cheese stocks and eggs in gentle demand.
The document lists prices for gloves calf skins, wax lines, Kip leather and West wax, with multiple grades and finishes. It includes green salted buff selections and various regional hides with price ranges, noting second or best lines and finish types across several geographic sources.
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