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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 28, 1889
Page
6
Lumber active while coal, flour, hops, and Mait show dull to quiet levels. Butter and cheese move firmer and stronger respectively, with eggs firm and potatoes steadier. California fruits in fair demand. lard and fresh beef firm, pork steady, mutton and lambs steady to quiet, sugars steady, molasses nominal.
The Boston money market remains easy with the Clearing House rate at 2 1/2 to 8 percent and time loans scarce. Exchanges fall vs last year while New York funds rise. bonds show modest gains and strong treasury buying signals.
Trading at the Boston Stock Exchange shows strength after 2:15 with gains in Rock Island Reading Missouri Pacific and Atchison. Noon prices were low but the day closed near the best levels as bonds and equities moved higher led by railroad issues and bonds including Atlantic & Pacific and Denver & Rio Grande Western certificates.
Fall River reports a quiet steady cloth market with prices quoted at 8 4 for regulars and no sales changes noted for both spot and futures.
At the Antwerp wool market on August 27 there was good attendance and active demand. Better grades advanced 6 to 10 francs, while overall averages remained unchanged. Lambs wool declined 54 to 10 francs with 1,900 bales offered. Buenos Ayres sold 573 bales at 80 205 francs per 100 kilos and Montevideo 818 bales at 100 220 francs.
The Daily Commercial Bulletin reports a buoyant jobbing trade with many out-of-town retailers. Retailers are stocking freely with no signs of speculative activity. First-hand demand is active, interior reorders flow in via traveling salesmen. Staples and patterned cottons hold steady and men’s wear woollens are unchanged.
The option desk notes curb activity in December wheat with firmer tones and a bullish outlook after Vienna crop reports, aided by reduced tomorrow receipts and good export buying. Corn shows improvement as arrivals ease. hogs light with provisions easing briefly before closing firmer.
In New York Aug 27 money on call was easy at 3 5 with last loan at 3. Prime mercantile paper read 542 7. Bar silver 92. Sterling exchange quiet and irregular with 4.83% for sixty day bills and 4.86% for demand. Government bonds dull and steady. railroad bonds dull and firm. Stocks remained dull after noon but with a strong tone rising to fractional gains led by Lackawanna Northern Pacific St Paul Tennessee Coal Cotton Oil Lead etc.
The official closing quotations for mining stocks in San Francisco list prices for Alta, Occidental, Best & Kelch er, Crown Point, Sierra Nevada, Gould & Curry, Union Con, Hale & Norcross, Mexican, Yellow Jacket and others with figures ranging from 1.55 to 8.70.
London market closes with Consols at 9 81 2 percent and mixed stock quotes for Atlantic and Great Western Canadian Pacific Erie Illinois Central Mexican stocks and Reading. Bullion movement into the Bank of England today totals £19000 on balance.
Tur Menawarmet, the new hotel at Boothbay Harbor Maine, will stay open longer as business remains good this season. Reduced rates on the Boston and Maine line attract many visitors to the resort.
Dealers report strong interest in lumber with a favorable trade outlook for fall. Railroads announce a two day limit for lumber left in cars, prompting calls for delay or intervention by railroad commissioners. Old Colony lines offer five days, drawing approval from dealers kuh. Southern lumber demand remains steady with prices holding from last week.
Southern shipments stay strong with 1,281,100 feet of lumber arriving by vessel, main cargoes from Brunswick, Apalachicola, and Jacksonville. Prices for pine, cypress, and spruce hold firm, with steady steamer rates and little new orders as mills stay busy and extra ships teased for October.
The coal market shows weak demand for anthracite with a slight weekly rise in wholesale activity but limited consumer purchases for fall and winter. New York meetings among anthracite company agents discuss possible price increases, though unlikely to hold. Production totals for the week are down from last year as freight rates remain firm and vessel shortages delay shipments.
John E. Welsh at 206 State Street reports carload prices for flour and grain, with daily receipts across New York Chicago St Louis and Minnesota markets. Prices range for winter wheat, various corn and oats, flour grades, and export bids, noting steady to firm market with home demand and light export activity.
Chicago No 2 yellow dull at 47 47 4. No 8 yellow 46c. No 2 corn 46c. High mixed 50c steamer yellow. New York receipts 33,200 bu exports 66,831 bu sales 151,000 bu. Chicago receipts 594,000 bu. market higher No 2 83 4c. St Louis receipts 30,000 bu. market higher. Oats demand dull. No 2 white oats 31 4c track, 24 14c elevator. Shipping prices lower. No 2 white cars sold 31 34c. No 3 white 29c. No 2 mixed 28c. Various values for white and mixed oats across markets. Rye and flour markets quiet. cornmeal and oatmeal steady to quiet. Overall market activity subdued with downward tendency in some oats prices.
Today's produce receipts show butter 6874 pkgs, oleo 1239 pkgs, cheese 672 boxes, eggs 2956 cases, potatoes 16 cars, sweet potatoes 364 bbls, hay 11 cars, straw 1 car. Last year butter 2230 pkgs, cheese 691 boxes, potatoes 6 cars. Market notes report firm Western creamery quotes, varied butter prices from 10-20c, and overall quiet demand with some regional price differences.
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