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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Dec 03, 1887
Page
6
Boston money market remained dull with little rate change. Clearing house loans held at 6 to 7 percent, while New York funds traded at 10 to 15 cents per $1000 discount. bonds and stocks showed modest gains and scattered advances across railroad issues and industrials.
Amory Manufacturing declares a dividend of 3 dollars per share. Stark Mills proclaims 40 dollars per share. Denver & Rio Grande Railroad declares a semi annual dividend of 1 1/4 percent on preferred stock. Flint & Pere Marquette Railroad announces a semi annual 3 1/2 percent on preferred stock payable January 16.
¢. H. Venner & Co bankers at 8 Congress Street and Williams & Co Boston Stock Exchange members named in a broker and finance listing.
Money on call remains easy at 4 to 5 percent with last loan at 4 percent and near 3 percent closing. Stocks show extreme dullness post noon, but some gains in St Paul Union Pacific Missouri Pacific and Erie firming. overall market ends steady to firm with notable rises in Rock Island Brie Milwaukee Lake Shore Harlem Union Pacific and others.
London market quotes Consols at 10113 16 for money and 1015 16 for the account United States 444s at 11044 Atlantic and Great Western firsts at 897 Canadian Pacific 5612 Erie at 29 percentage Erie seconds 100 Mexican ord 441 St Paul common 7744 New York Central 11114 Reading 365% Paris 23 per cent rentes at 81 francs 9242 centimes for the account Open market discount on short and three months bills at 4 1/2 per cent.
A New York stockholders meeting on December 8 will decide on issuing up to about 1 million in bonds under the $50 million extension mortgage for the St. Louis & San Francisco Railroad Company. Funds likely finance Panhandle Texas construction while most bonds have already been sold to a syndicate. The Denver & Rio Grande declares a cash dividend of 1 4 percent on preferred stock with a 1 4 percent in scrip, and notes earnings through October and projections for the year. The Atchison Topeka & Santa Fe sues Gulf Colorado & Santa Fe stockholders over an agreed bond scheme, seeking payment on a 3 percent assessment. Missouri Pacific track reaches Pueblo Colorado.
Corrected quotations from official Boston Stock Exchange reports show Atch, LoP & Santa Fe activity and Atlantic and Albumy listings. The New York Stock Sales for December 2 record 273,388 shares traded with opening, high, low, and closing prices compared to yesterday’s close.
Mortgage filings show Chicago and Eastern Illinois Railway mortgaging property and franchises for 8 million dollars with bonds due November 1 1937 payable to Central Trust Company of New York. Wagner Palace Car Company reports 2 519 006 gross receipts 1 824 824 expenses and 694 182 net earnings for year ending September 30. Measurer P W Smith outlines lease terms to Wabash for stockholders. Dividends set April 5 and October 5 with stepped rates through 1895. Houston and Texas Railroad reorganization advances Hetty Green and C P Huntington near agreement with Central Trust acting as single reorganization committee. Reading Railroad annual net earnings near 12 500 000 with rising trend since 1883. Fixed charges around 7 654 000 and total around 10 100 000 under plan. A Maine New Hampshire Massachusetts Iowa rail group visits Bridgton to inspect the Bridgton and Saco River railroad. Numerous rail earnings figures for Burlington Cedar Rapids Northern Denver Rio Grande Milwaukee Lake Shore Western Northern Pacific listed for various periods.
The week shows 215 U S failures and 29 Canada, totaling 244, near last week. Headlines cite speculative booms, corners, and tighter money as Brown, Woot & Kingman fail amid high dry goods demand and mixed commodity trends.
A list of buyers and agents from numerous U S cities and firms, including Grayling Spaulding & Co in Atlanta, W W Draper in Atlanta, H Leh in Allentown, Koch in Hass & Koch, and many others, indicating active shoe trade and distribution connections across the country. The compiled names cover firms in Albany Allentown Baltimore Chicago Cincinnati Cleveland Detroit Denver Dubuque Davenport Painesville Philadelphia Reading Richmond San Francisco St Louis Syracuse Paul and more, reflecting a broad national network.
The advice urges readers to stop using old fashioned Rosia soap for laundry and switch to Pearline for gentler cleaning that protects fabrics and colors.
Prices show firm butter cheese and flour with corn oats and oats futures up, while apples and lambs remain weak or dull. Potatoes and cranberries see steady movement and demand, milifeed and grass seed steady, pork lard and refined sugars unchanged, veal moderate, and molasses quiet.
Quiet week in the fish market with firm prices across mackerel codfish hake and herring. Receipts for the week ending Dec 2 show small stocks of No 1 mackerel and steady demand for canned and fresh fish across multiple varieties.
The December 2 market reports show a firm flour market with higher prices for spring patents and limited mill output. Corn and oats are volatile with rising bids, while milled products and rye or malt hold steady. Strong demand and rising prices suggest further increases, with specific bids and lots across No 2 white oats and steamer yellow corn.
Butter grades stay firm with special lots trading around 30c. Imitation creameries hold firm while cheese prices remain unchanged. Demand stays quiet at steady levels. The egg market remains firm for all choice lots.
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