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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 07, 1889
Page
6
Boston money market shows little change with time loans 4 to 5 percent and call loans 3.5 to 5 percent. Clearing House balances at 3 percent, New York funds discounted, and bonds mixed. Atchison stock gains amid earnings chatter. railroad and mining shares advance, with Sugar Trust and Tamarack among notable movers.
The Chicago and Alton Railroad company pays its regular quarterly dividend of 2 percent on September 2.
Kidder, Peabody & Co announces MERCANTILE and TRAVELLERS' CREDITS available globally through MESS&ES.
Baring Brothers and Co. LONDON and their correspondents offer buy and sell foreign exchanges and telegraphic transfers across Europe, California and the British Provinces. Stock and bond orders are executed in Boston, New York and Philadelphia.
Officials report sales from 10 A M to 12 30 PM with highest and lowest quotes and a long list of securities to be sold by auction on Wednesday August 7 1889 including railroads banks mills and utilities such as Burlington Quincy Boston & Maine New York Boston Rapid Transit and Edison companies. The report also notes New York Stock Sales for August 6 with total shares 211 700 and daily price details.
Chicago railroad men discussed Alton Railway plans to acquire a western feeder line beyond Kansas City. They noted rivals Rock Island Burlington and Santa Fe already expanded west, risking bottling Alton traffic unless Missouri Pacific joins. Grain car receipts show Chicago & Alton remaining competitive while a Missouri Pacific decision could push Alton toward being constrained.
Money on call easy at 2% to 4% with last loan at 8% and bar silver at 92%. Sterling exchange dull with bids around 4.85 sixty day and 4.87 demand. Government bonds and rail bonds steady. Market opened higher, led by Missouri Pacific and Lake Erie & Western preferred, with Chesapeake & Ohio and Southern Cotton Oil advancing. Afternoon pressure limited gains, overall dull but firm near day’s best. total sales $1,117,000 with notable rises in St Paul Lacrosse 7s, Long Island firsts, Oregon Transcontinental 5s, Reading thirds, Iron Mountain seconds, and South Carolina incomes.
London stocks list Canadian Pacific at 60 Erie 2 3 4 percent Erie seconds 1057 Illinois Central 119% Milwau kee & St Paul 72% New York Central 108% Pennsylvania Central 53% Philadelphia & Reading 23 Mexican Central now 48 67% Money 11.4 percent Bullion withdrawn from Bank of England on balance today £71,000.
Creditors of McKean & Appleton shoe makers in Salem met at Essex House with liabilities totaling 58 710 20 direct and 11 549 66 contingent plus 677 97 in preferred labor claims and assets of 31 717 77 offering 40 cents on the dollar. A committee of Avery, Bowen and Harrington was named to study a settlement basis. Riverside and Oswego Mills near Oswego Falls were attached for 412 000 by Juliard, McKenzie & Quimby of New York, a Providence based defendant with about 1 000 employees and a $22 000 monthly payroll. The mills, Oswego Falls principal industry, may face suspension though an early resumption is hoped. the mill properties extend to Providence. E P Chapin of Providence is president of the committee. S Fairchild Gray of Danvers, a brick maker, recently made an assignment.
The advertisement boasts that Dr Pierce's Golden Medical Discovery outsells all other blood and liver medicines. It claims unique guarantees that it must benefit or cure, with a full refund if not. Cures derive from liver derangement and impure blood, including biliousness, skin diseases, scrofulous sores, fever sores, and hip joint disease.
A $500 reward is offered by the manufacturers of Dr Sage’s Catarrh Remedy for an incurable case of chronic nasal catarrh. The public is urged to purchase the remedy at druggists for 50 cents.
Lumber and coal hold firm while flour and corn stay mostly steady. Butter and oleomargarine remain dull, cheese edges higher, eggs firm, pork fair, lard firm, bacon quieter. Hogs steady, mutton quiet, lambs plentiful, fresh beef firm, veals dull, and many fruits steady with California demand strong. Trucking activity remains robust.
Fall River market for print cloth remains steady with no change in 316-16 cents for G4XG64s as of August 6. The market shows little movement. buyers and sellers hold positions with minimal activity observed.
The Daily Commercial Bulletin reports wholesale demand was only moderate last week while retailers from Texas and other distant regions boosted activity in jobbing. The general market remains steady with staple cotton goods quiet in first hands but more active in jobbing. spring woollens and worsteds for men’s wear show fair demand.
Wheat firm at Chicago on strong cables and good cash demand. English and French markets higher. 190,000 bushels chartered. Corn bid above September, aiding deliveries. Oats firmer but weak value. Prospects uncertain as receipts rise. little trading and near-day lows. Duluth wheat opens and closes at 82 cents.
James and Abbot report lumber demand remains strong across varieties with Southern pine and cypress showing brisk movement. Prices have seen few changes but overall market activity stays lively amid steady supply and cautious buyers.
The lumber market remains firm with steady to brisk Southern demand and limited large orders. Cargoes and yard stocks rise as shipments of cypress and pine fill yards. Northern lumber shows modest activity though prices hold. spruce logs stay high, with moss prices steady across regions and shingles and lath sales solid.
The anthracite market remains stable with no price increases in August despite high freight rates and scarce vessels. Production for the week reached 880,857 tons, up from 878,651 the prior year, while retail demand stays moderate and bituminous activity remains light. The Pottsville Miners Journal notes the year long shortfall in output narrowing gradually.
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