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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Dec 29, 1887
Page
6
The Boston money market eased with rates at 5 percent at the clearing house. Corporation paper ranged 5 to 6 percent, outside paper 6.5 to 7 percent. Loans on call with collateral were 6 to 6.5 percent. Reports show mixed bond activity, treasury balances, and gold reserves, with steady to firm sentiment in some rails and utilities stocks.
The Clinton Mills, Waumbeck, Androscoggin Mills, Chiconee Manufacturing, Bates Manufacturing and New Bedford Gaslight companies all announced dividends ranging from 1 to 8 percent. The New Bedford Gaslight also distributes 2 percent from its insurance fund. Foreign and regional firms like Mexican Telegraph and Central & South American also posted quarterly dividends of 2 percent and 1 percent respectively, with Fall River Mills Bourne at 1 percent, Tecumseh 2 percent, and Narragansett at 1 1/4 percent.
Authorized issue 85090 000 Registered bonds due January 1 1938 bearing 4 percent interest payable semi annually issued at par and accrued interest after January 1 next. Right to raise price at any time without notice reserved. J M Washburn December 27 188%.
The road is leased for 999 years to the Northern Pacific Railroad Company. The lessee agrees to pay interest on the bonds and their principal by semi annual instalments for the sinking fund to redeem the bonds at or before maturity.
Denomination 1000 dollars dated Sept 1 1887 due in 20 years at six percent interest payable semi annually in New York City. First Mortgage bonds secured by Water Works property with Mercantile Trust Co of New York as trustee. Subscriptions invited for January delivery with full particulars.
Specially secured by a 25 percent deposit with American Loan and Trust of Boston in addition to the company’s guarantee.
A sluggish session saw Missouri Pacific rise briefly after 1 p.m. but most stocks drifted near day’s lows. Reading, Union Pacific, and Lackawanna gained modestly while other issues fell. total turnover reached 176,163 shares with railroad bonds more active and several bond prices advancing or eroding, marking a dull close.
Mining companies feature in the daily corrected quotations from the Boston Stock Exchange official reports with First Call notes signaling price activity and market listings.
Money on call held at 4 to 7, last loan 4, prime mercantile paper 6 742. Bar silver firmer at 97. Sterling exchange dull with actual business 4.8234 4.88 for 60 day bills and 4.8534 4.86 for demand. Gov bonds dull but firm. railroad bonds quiet but firm. Stock market dulness after noon with Reading and Lackawanna showing slight activity and prices drifting downward overall.
U S bonds and stock prices listed with rates: United States 4s at 129 1/2 and 44s at 111, Atlantic Great Western shares 39 1/2, Erie 39, Erie seconds 100, Mexican ordinary 49 3/4, St Paul common 77 3/4, New York Central 112 1/2, Pennsylvania 56 1/2, Reading 34. Paris quotes 3 per cent rentes at 1 franc, money at 4 per cent, open market discount for short and three months’ bills at 3 per cent.
John Clarke & Co furniture makers of 33 Merrimac Street Boston have gone into insolvency. Philogene E Beaudette barber supplies dealer of Boston also insolvent. Albert Silva grocer of Newport Kentucky assigned to BE Hawkins Jr. J B Schier dry goods dealer of Dubuque Iowa made an assignment. George Mann of LiQuor Tea Co Toronto assigned yesterday. Liabilities total 60000 with assets 40000. Central Bank is principal creditor.
Boston piano dealers watch a British bill aimed at stopping forgeries in piano trade. The act would block unnamed German pianos imitating English makes and require “manufactured for” labels on front boards or harp plates. If passed, Boston and New York will seek U.S. trademark law amendments to curb such frauds.
A brief classified notice advertising boot and shoe buyers featuring Trey and Y J M McDowell. The ad invites consultations and appraisals from customers seeking footwear purchases or resale options.
The New York World relays a Wall Street organ's claim that the Pacific railroad investigating committee will favor Union Pacific with a 50 year 4 percent extension and praise for honest management, while describing Central Pacific as run down and opposing an extension. Commissioner Ellery Anderson cautions about annulling charters and appointing receivers, questioning government action. The piece also covers Chicago & Eastern Illinois Railroad mortgage plans, Hoosac Tunnel issues, and various 1887 rail earnings and traffic notes across multiple lines.
Dr J S Billings at the Lowell Institute delivered a second lecture on The History of Medicine tracing Mesopotamian priestly origins and Chinese superstitions. He cited the ancient Chinese book circa 8000 B C and the Papyrus Ebers from 1500 B C, noting early physicians were mainly priests blending religion with medicine.
G W Simmons and Company offer an underfastening humane horse blanket designed to stay in place even in wind. The blanket is marketed widely and is available at 32 North Street where many horse blankets are sold.
Wool and flour hold steady while corn oats and rye show little change. Butter and cheese move slowly but remain steady and firm respectively. Eggs beans hay and potatoes show varying demand with Florida oranges cranberry firmness and moderate demand for hickory nuts. Pork beef lamb and veal hold steady or in fair demand as several grains and foods display steady or quiet trends.
The wool market shows little change with steady prices for most wools, demand subdued by holidays but fair movement overall. Domestic supply remains ample while foreign grades are light. territory wools have the strongest demand and Australian wool sales remain small yet moderate, with quotations for leading Boston grades and weekly receipts detailed.
A week ending December 28 1887 reports cattle sheep swine totals 1716 12256 29816 across markets at Brighton and Watertown with arrivals at yards and car counts on Boston area lines. Prices list beef store cattle hides and sheep values while remarks note weak vim light Western purchases and steady fat cattle and pork demand amid brisk export interests.
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