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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 21, 1888
Page
6
The Money Market report notes a light week opening with some transactions at 2 percent at the clearing house and loanable funds in modest demand. Bond offerings total $852,250 with various 4 percent issues, and foreign exchange remains steady. crop and railroad outlooks carry mixed signals from Chicago and Des Moines reports.
Acushnet Mills Company in New Bedford declares a quarterly dividend of $2 per share. Mt. Diablo Mill and Mining Company declares a dividend of 20 cents per share.
Subscription books for the Meigs Elevated Railway will be opened at our office on September 4 at noon for the first issue of stock. Full particulars available at the office or by mail upon request.
A historical note locating the firm Soley Gay and Dorr Bankers at 68 Devonshire Street. The brief card records the business’s London address for reference.
Listing of stocks and bonds to be sold at auction on Wednesday August 22 1888 by G. Williams & Co Boston Stock Exchange includes Everett Mills brickstone National Banks and various railroads and manufacturing shares with closing figures and collateral mentions. The document also notes New York Stock Sales August 20 totals and market anecdotes from Atlanta New York Watertown and Cincinnati railroads.
The market report shows steady or unchanged tones for many staples including Tron copper tin oatmeal and flour with firmer flour and firm potatoes. Demand remains fair for bees hay pork and commissions while watermelons lag and refined sugars rise amid general stability.
Money on call eased to 1 to 2 percent with closing at 1 percent. Prime mercantile paper 4 1 2 to 6 2. Sterling exchange dull yet firm around 4 84 4 87. Government and railroad bonds steady. Stocks advanced after noon led by Reading, St. Paul, Western Union, Missouri Pacific with notable gains. later slight pulls and a buoyant late tone. Total sales 1 031 000. notable quotes include St. Louis and Cairo up 1. New York Ontario & Western firsts to 116. Atlantic & Pacific incomes to 26. Wabash perpetuals at 87.
Reports indicate the Illinois Central plans to invade Nebraska and possibly Wyoming and Colorado with a main line favored to reach Ogden over Denver. Wyoming & Eastern Railroad Company Articles filed at Cheyenne show a $10 million capital and 425 miles in the Utah Wyoming territory, backed by Illinois Central to link Twan Creek to Ogden and Salt Lake City, via Horn Fork and the Sweetwater valleys. The route would cross near Onaqua and approach the mountains as an almost airline path, sparking a rival overland traffic race.
Atlantic & Great Western firsts 37 percent Atlantic & Great Western seconds 77 percent Canadian Pacific 59 percent the seconds 100 percent St Paul common 72 percent New York Central 109 percent Pennsylvania 55 3 percent Reading 25 48 Mexican Central firsts 69 percent.
The metal market shows no change for iron or steel with fair demand and steady prices. Reports cite low maker stocks and cleaned consumer supplies, while Southern competition rumors and a Crane Company price cut lack confirmation. European markets stay firm with limited large sales and mild price shifts across rails, blooms, and pipe.
The listing details wide price ranges for copper, iron, steel, and related products across various origins and forms. Copper bars and sheathing quoted with unit prices. pig iron from Pennsylvania and Ohio at $18 5 19 00 for No 1 and $17 50 1800 for No 2a. Southern No 1 at $18 11 PP ton delivered here. Other items include refined bar iron, Norway and Swedish iron, American cast steel, beams, angles, rails, scrap iron, boiler plates, nails, pipes, boiler tubes, and tin and zinc products with assorted discounts, terms, and origin references.
Wheat rose to top prices with a 2 cent gain as reports from farmers and foreign markets fed optimism. Corn and oats steadied amid expectations of a large crop, while hogs and other provisions showed dull but steady activity. Receipts at winter points remained liberal with light shipments and minimal clearances.
Boston markets show firmer tone amid higher wheat costs. Visible supplies list Aug 12 18 20 with Chicago stocks and Boston elevators remaining. New York receipts and exports rise as demand strengthens for export and milling, with mixed grades and steady to higher prices across regions.
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