Basset Whitney & Co Bankers and Brokers Ad
Direct wire to New York offers buying and selling stocks and bonds for investors or on margin. Dealers in municipal and railroad securities.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 18, 1888
Page
6
Direct wire to New York offers buying and selling stocks and bonds for investors or on margin. Dealers in municipal and railroad securities.
Auction of numerous stocks and bonds on Wednesday August 22 1888 from Williams & Co Boston. Listings include rights in Everett Mills various banks railroads mills and other industrials with quantities and notes of collateral or mortgage. Quotations and last sales follow with mining companies and related financial instruments.
Chicago rumor says Northern Pacific plans a Chicago entry with land purchases and a strong terminal setup, likely via Wisconsin Central tracks, pending Henry Villard’s return. Union Pacific and Northern Pacific talks resume, with no action expected until Adams travels west. Also notes North Attleboro Wrentham branch railroad hopes, three mile shorter Boston Providence line, and stock subscriptions underway.
The money market eased with loans at 2 1 2 percent at clearing houses and general market rates from 4 to 5 percent. New York funds sold at 16 to 20 cents per $1000 discount. Bond offerings and currency rates noted, while Boston and New York stocks showed weakness amid crop worries and rate talk. Atchison and Chicago lines moved, and a Canton rail gauge change plan was outlined with regional lease talks.
Homestake Gold Mining Company pays 20 cents per share to stockholders of record Aug 26. The Osceola Mining Company pays $1 per share on Sept 15. North Pennsylvania Railroad and Chicago Burlington & Quincy Railroad issue quarterly dividends of 2 and 1 percent respectively, payable Sept 15. St Marys Canal Mineral Land Company declares $1 per share. California Southern road declares 3 percent on half year incomes to June 30, payable Sept 1. Books close Aug 21.
Missouri Kansas and Texas Railway Co and Missouri Pacific Railway announce court consent to pay taxes labor claims and operating expenses. foreclosures progress and bondholders urged to send names addresses amounts and rates for combined action while awaiting further receiver naming. Edward B Adams Winslow Lanier Co Edward Sweet & Co William Whitewright Union Trust Co William Mertens L von Hoffman & Co William Strong
Money on call was easy at 1 to 2 percent with the last loan at 2 percent. The stock market weakened after 2 p.m. with bear raids on St Paul and Vanderbilt shares, major losses across active stocks, and overall dullness closing near day’s lows. Reading second mortgages declined 4 and Reading issues fell 4 percent. Kansas & Texas consols down 1 to 95. coalers held firm amid a late bulge by Lackawanna.
United States 4s at 131, Canadian Pacific 58 1 2, Erie 28 1 2, Mexican ordinary 46, St Paul common 73 3, Pennsylvania 56, Reading 25, Mexican Central firsts 69, Money 1.2 per cent. Open market discount rates 2 5 8 per cent for short bills and 2 per cent for three months. Bar silver 42 1 16d per ounce. Bullion balance at Bank of England today £20,000.
The report shows mixed activity across goods with meat and fats firm or steady, grains and produce largely quiet or dull, and sweets holding steady. Notable firmness appears in pork and corned beef while molasses remains strong and several items like oats and beans show subdued demand.
The Chicago wheat market saw heavy trading with strong shorts covering and longs unloading while cash receipts hinted at cooler Dakota weather. Cattle and hogs were mixed as buy by locals softened into the close. forecasts predict lower prices but avoid selling on weak spots.
Aberdeen Miss R Paine of R Paine Co Yo Alleghany Penn H Blummhage of H Blumhage Co Alleghany Penn Jd Fielding Atlanta Ga A W Force of GH A W Force Birmingham Ala W C Reese Chicago A1 C W Marks Craw Chicago 1 E M Phelps of Phelps Dodge Palmer Chicago Il A C McLauchlan of Selz Schwab Co Columbus Misgs G D Harris Re Columbus O B Friedman A 5 Elmira NY A Hudson of Hudson Howel Vo Hillsdale Mich C H Chapman Kansas City Mo S K Green Am Memphis Tenn S Adler of Adler Bros Co Am Memphis Tenn George N Tidwell of JM Tidwell Co Rd Pitsburg Penn W Pickersgill Jr Re Springfield O R A Starkey of Starkey Scowden Re St Louis Mo George W Lewis of O J Lewis Co Wichita Kan R 5 Smith of Smith Stover
A Colfax Iowa doctor reports satisfaction with Horsford's Acid Phosphate in treating mental depression linked to gastric troubles. Dr L C Turner notes improvement and recommends the preparation for such conditions.
Mackerel market stays quiet with higher receipts but slightly lower prices. Nova Scotia catches are light while the shore fleet struggles in the East at Boon Island and No Man's Land. Boat prices hold firm for mackerel and herring while codfish demand remains slow.
Spot market shows mixed wheat prices with lifts in Minnesota and Michigan types, Canada export grades steady. New York and Chicago receipts show higher prices on winter and spring patents while oats and corn trade quiet. overall firm tone with selective gains and quiet activity in many grain categories.
Butter supplies tight with firm wholesale prices across Western creameries and Eastern markets, while New York and Chicago dairy items remain steady or weak. Eggs and beans hold limited activity with jobbing margins up slightly. grazing seeds show a largely nominal market and steady trade overall.
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