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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jul 25, 1887
Page
6
The Money Market closes steady as Boston funds move to New York, rates firm on call and time loans. Clearing house balances show strong liquidity despite midsummer activity. New York funds trade near par with slight premiums. weekly exchanges total over 75 million dollars.
The Lyman Mills Manufacturing Company declares a 2 percent dividend. The Dwight Manufacturing Company in Chicopee declares a 9 percent dividend.
The report notes firm but scarce American pig iron amid coke shortages, with higher production and rising consumption. Steel rails neared annual output, while exports show shifts. Copper tin and lead markets are active. flour and grain markets stay quiet with steady prices. Weathered by freight and port clearances, fruit and produce markets signal a mixed outlook for apples, pears, and oranges with ongoing shipments to the Americas.
A creditors meeting at Young's Hotel examined the Superior Wax Paper Company status. The committee projected 1500 needed to restore full capacity, total debts around 31500, and assets including factory plant, stock, and old works. Multiple local businesses faced insolvency, with several assignments and settlements attempted.
Wilson W Fay & Co reports stock movements in mining and miscellaneous sectors from Boston's No 7 State Street office. Highlights include notable shifts in prices and volumes across select mining firms and assorted commodity listings.
Across London Paris Berlin and Frankfurt weeklong trading was subdued with steady discount and firmer bourse tone. American railway securities fluctuated then rose on New York gains while European rates and currencies moved within narrow ranges.
Money on call ease at 3 percent with last loan and closing at 3. Prime mercantile paper quoted at 5 2 4 6 percent. Bar silver 96 ½. Sterling unchanged. 60 day bills at 4.82 34 and demand at 4.84. Government bonds dull, railroad bonds firm. Stock exchange volume the smallest for a Saturday. weekly bond sales totaled 3,472,000 versus 3,566,000 prior. Grand Rapids & Indianapolis 6s up 1 at 97 1 2. Lake Shore firsts down 1 3 4 at 123 3 4.
Today's transactions report 27,503 shares traded in New York. The list shows the shares sold and the opening figures for each issue.
The board of health reports 236 deaths last week, up from 211 the year before, with 56 due to cholera infantum and 102 child deaths under age one. Major causes include cornsies 23, pneumonia 9, whooping cough 6, heart disease 4, bronchitis 5, and marasmus 7, while violent deaths total 5. The over 60 count reaches 36 and the oldest casualty is 90.
The funeral of Private Dennis J Donovan of Company B Ninth Regiment who drowned on state duty at Framingham occurred Saturday from SS Peter and Paul Church South Boston. The Shields Guards Company G joined the funeral column led by the Ninth Regiment Band and burial was at Mt Benedict cemetery. A Soldier's Farewell was sung at the grave.
Commercial matters indicate varies demand with pig iron and tin strong, butter and cheese firm, and apples plentiful. Potatoes easier, oats softer, and meat prices mostly steady. Sugar products steady, molasses steady, and truck demand described as good.
Iron and steel prices including pig iron at No 1 and No 2 grades, gray forge, refined bar iron, puddled iron, beams and channels, American steel rails, old rails by region, scrap iron and variousiron products. Tin copper and lead prices with unit quotes and discount terms. zinc and spelter prices.
Butter markets remain firm with strong export movement and solid foreign demand. New York and Chicago report firm butter and cheese. creameries, dairies, and eggs show steady or rising prices. beans, seeds, hay, and potatoes present steady to soft trends. various regional quotes for butter, cheese, eggs, and poultry listed.
Mesars A C Lombard's Sons report the European fruit season will run three weeks later due to prolonged cold and hot dry weather causing smaller fruit. They note Britain shows early prospects of an unusually heavy apple crop, but cold rains during blossoming damaged productive areas, leaving the final yield uncertain despite being ahead of last year.
The Norfolk boat due Monday carries 1100 pkc citrons 2000 bbls potatoes 600 pkgs washing 450 crates tomatoes 5500 watermelons 1300 bbls apples and pears. Prices for onions Egyptian Maltas native Rhode Islands Chicago and other produce are listed in baskets crates and dozens with varied rates.
Beef and pork prices firm with improved demand and steady to moderate receipts. Beef markets report higher tone and favorable exports. weekly car receipts totaling 188 with Boston and export splits noted. Mutton and lamb inquiries rise, spring lambs scarce. various fresh meat prices listed for pork, beef, and west coast hams and veal.
Liverpool cotton futures closed modestly firm with July at 6 88-64d and other positions ranging about 5 38-64d to 15-64d. Spot upland middling opened in buyers favor at 5 11-16d, while New York spot closed quiet at around 10% to 7 18-16c for various grades. Reports note sales of 7,009 bales, receipts of 7,700 bales, and extensive U.S. movements alongside PIPE LINE CERTIFICATES activity and sugar and molasses price levels across markets.
Minneapolis grain prices show wheat at 72 1/4 to 73 1/4 cents while cash and August futures move. Northern and hard wheats quote slightly lower, with receipts listed. New York flour markets remain dull with Minnesota and Chicago wheat bids and various flour classifications, prices, and exports noted.
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