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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jan 24, 1889
Page
6
Boston money market remained quiet with clearing house at 2 percent. New York and Boston exchanges rose amid heavy Atchison activity as investors priced potential control shifts and large bond listings. Broker notes show gains in Gulf Colorado Santa Fe and Chicago Burlington & Quincy while other rails drifted.
The New England Telephone and Telegraph Company pays $125 per share to stockholders of record January 31 with payment due February 15. The Cincinnati, Sandusky & Cleveland Railroad Company distributes 2 percent payable February 11 to stockholders of record January 31. The Columbus, Springfield & Cincinnati Railroad Company also pays 2 percent on February 11 to stockholders of record January 31. Bagnamore Manufacturing Company declares 3 percent.
A record of an auction by The New England Mortgage Security Co listing stocks bonds and municipal notes to be sold on Saturday January 26 1889. Items include city and railroad bonds and numerous bank and manufacturing shares from Boston Nashua Charlestown Hyde Park Lake City St. Paul Toledo Decatur Sag Valley Kansas City and more along with New York stock sales summary dated January 23 1889.
Money on call easy at 2 with 60 day bills near 4.86 to 4.88. Government and railroad bonds steady. Stocks opened weak and remained dull, led by Pullman weakness, with St Paul and Colorado Coal showing notable pressure late in the day. Rail bonds trades totaled 1.83 million. several issues firming in late session.
A crowded ledger of bond quotes and express company shares appears with numerous percentages and figures. Listings include Canadian and Texan issues, West Coast and railroad securities, and various debentures and certificates.
Atlantic & Great Western firsts 347 Canadian Pacific 63% Erie 28% Erie seconds 1045 Illinois Central 115% St Paul common 66 New York Central 111% Pennsylvania 5544 Reading 2442 Mexican Central firsts 714% Money 1341%4 percent. Discount rate in open market 2 3 percent. Paris advices 3 percent 83 francs 742 centimes for the account.
The piece argues the glass bottle tariff protected a U S monopoly while growth in imports surged after 1880. It cites a 35 percent duty, then a shift to ad valorem 85% and finally a per pound rate via a conference committee. It highlights Siemens’s 1880 furnace innovation enabling cheaper bottles and sparked increased imports and industry lobbying.
The piece denounces a proposed tariff rise on imported bottles, arguing it shields private interests and hampers modern bottle making. It warns higher duties will raise costs for beer, soda, and mineral waters, harming consumers and public health while benefiting the Bottle Trust.
The annual meeting in Faup River disclosed gross earnings of 70089 for the year with 10434 spent on new boilers leaving net earnings of 59655. Total debt stood at 158833 with quick assets 117256 and net debt 86577. Officers elected include Francis B Hood as corporation clerk William Lindsey as treasurer and a slate of directors.
Twenty-four freight cars on a side track at Ashburnham derailed after rolling toward the city on a down grade with only four remaining on the rails near Putnam Street. Cars carried flour corn oats and bark and the wreck was the worst seen locally. Brake man Carroll sustained slight injuries. Track cleared by 7 o clock.
Fred J. Quimby 24 was arrested in Providence by Detective Murray and Inspector Dugan for allegedly swindling Estes and Lauriat Boston publishers of 600 to 1000 dollars. He has four years with the firm in Boston and previously worked as an agent in Chicago. He lives in Boston and is married.
M J Kelly of Boston declares he will refuse to wear a Boston uniform this season if not made captain. He says he would devote his time to his Sixth Avenue café in New York and notes a move to appoint John Morrill as shortstop and captain has upset him.
Arthur E. Priest was arrested in Worcester on forgery charges, brought to Boston, and arraigned in Municipal Court. A travelling salesman for Alley Bros. & Pace, he left in September after a forged $900 check on the International Trust Co. was cashed, then sailed to Europe before returning via England France and Germany, using the alias Arthur E. Bearsford in Worcester.
David Swift twenty one year old elevator operator at 103 State Street died after a fall inside an elevator cab on a building landing. He lived at 25 Everett Street Charlestown. An inquiry found the elevator uninsured with Employers Liability Assurance Corporation of London listed as the only company taking such risks in the United States.
63 to 67 Charlestown street stores now occupied by Derby and Kilmer Desk Company. Call at 55 Charlestown street for inquiries.
Commercial prices show flour dull corn quiet oats firm rye dull graham quiet cornmeal quiet oatmeal steady rye dull malt dull hops quiet butter weak cheese firm eggs quiet beans steady potatoes in fair demand hay quiet rye straw unchanged game steady poultry quiet apples very dull oranges fair demand lemons steady cranberries dull pork quiet corned beef steady fresh beef slow other fresh meats unchanged raw sugars quiet refined sugars steady molasses quiet tallow unchanged.
The City Horse Market reports lighter arrivals of new country horses but active business in ready stock. Prices ranged from 40 to 235 per head for various classes while draughts and drivers sold well, with mixed loads from J A Carl and diverse regional arrivals boosting expectations for spring business.
The Commercial Bulletin notes irregular business in commodity circles last week with prints and dress fabrics in strong demand. cotton goods stay steady while overcoatings cassimeres and gents fabrics show firmer activity in early sales. Ribbed underwear movement remains fair in the cotton line.
Market report from London notes futures prices for three metal sectors. Prices quoted as £77 6d for tin and £97 10s for futures. Lead market at 4 gq with January activity.
In Fall River on January 23, print cloth values remain firm with no changes from prior quotations. Market reports show good demand for demi sheer fabrics, while claret tones hold steady amid steady purchasing.
Chicago reports a heavy day as wheat futures plunge with 66 000 bushels off New York and Philadelphia trade. Liquidation hits bulls and banks alike while corn and oats show mixed gains and losses as traders price near-term weakness across principal exchanges in New York St Louis and national quotes.
The report outlines carload grain prices across markets with frequent notes of dull demand for flour and mixed grain receipts. It lists extensive price ranges for various flour grades and references numerous regional market activity including New York and Chicago receipts, car counts, and export terms.
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