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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jul 30, 1886
Page
3
Boston traders report money market funds scarce and rates steady with loan quotes 5 to 6 1 2 percent while outside paper remains quiet. Government securities, foreign exchange and a flurry of rail and railroad stock activity mark a busy day as talk of a Danbury to New York route and Canadian Pacific connections stirs market sentiment.
The Boston & Albany Railroad is fencing its line through West Springfield, cutting through kitchen gardens and even blocking house doors. Boundaries have been undefined for years, allowing private squatters to cultivate unused lands. The move signals a new desl and possible track straightening in the freight yard.
Flour is dull and corn remains firm with higher asking prices from dealers. Oats are firm and easy. Pork and lard unchanged. Fresh beef dull. Butter quiet. Cheese steady. Eggs slightly easier. Beans fruit seeds hay unchanged. Potatoes dull. Poultry tallow unchanged. Sugars unchanged.
Receipts show 24 142 bales domestic and 9 857 bales foreign wool for the week. July 29 figures for Ohio Pennsylvania Michigan Wisconsin and other regions included. Market notes indicate demand remains strong for medium wools with prices edging up and fine wools steady to uncertain. The London sale outlook suggests continued price support amid lower overall offers.
A St Louis dispatch notes rapid gauge standardization by the St Louis Arkansas and Texas. The Rock Island signs the Peaks pool agreement, finalizing Central Traffic Association sub pools. Fitchburg plans two or three excursions to New York via Hoosac Tunnel and Hudson, return via Fall River line. Bloomington & Western earnings rise by 15761 in mid July. Chicago & Atlantic up 25254 for July weeks. Judge Gresham sets Lake Erie & Western upset price at 1,000,000. A Chicago special cites a new war in southern provision rates sparked by competition from KC SM and the Southwestern Railway Association declines to meet the cut. Boston & Albany to run several excursions from western state to Boston next month, harbor trip included. Louisville & Nashville July earnings reportedly up nearly 175,000 year over year. Erie to operate Chicago & Atlantic under perpetual lease with earnings and interest going to new stock, half to Erie holders.
An OCR heavy page lists bond prices, railroad securities, mining and telegraph concerns with closing prices and bid asks. It names Oregon, Sonora and Wis line items, various pref scrips, and notes volumes across Boston Water Power, Pullman, Maine Central, and other outfits with fluctuating figures and percent changes.
July sales report roughs show electric light and power offerings from Merchants' Electric Light and Power at 10 cents. Eureka and Cushing process security listings appear with prices around 48 to 60 cents. Additional entries reference Soo American Sho and various vendors with scattered figures and codes, reflecting an ad-like catalog.
James H Galligan a Boston dry goods dealer offers 15 cents on the dollar while creditors demand more details of his affairs. Abraham H Shapiro assigns to Moses Schrinfeld. Spaulding & Co. say Milford failure report was erroneous and the firm went into voluntary insolvency. Several other creditors report assignments and attachments across New York Massachusetts New Hampshire and Maine. Lowell bleachery stockholders adjourn for a week as investigators seek results. Iron founder Alonzo Josselyn faces failure due to Samuel G Snelling mortgage.
New York dealers report funds on call easy at 2 to 3 percent with prime mercantile paper at 4 to 5 percent. Sterling exchange steady near 4.85, bonds dull though railroad issues show moderate activity. The market closes near the day’s low, with Western Union and Northern Pacific preferred down, and Michigan Central leading a late rally among active issues. Total stock sales around 2.9 million dollars with broad weakness early and slight late gains or losses.
A Norfolk style ledger notes transfers in Suffolk County across Island Street Commonwealth Avenue Shawmut Avenue Congress Street Howard Street Saratoga Street and more. Entries show grantees such as Samuel Little Michael Donovan Boston Gaslight Company Edward Turner Andrew Porter Mary Goddard Warren Institution for Savings and others with parcel sizes from square feet to acres and prices ranging from 1 to 60 000 dollars. The list includes multiple towns Dorchester Brighton Winthrop Charlestown and West Roxbury with dates in July 1885 and related mortgage backs.
California mining stocks closed in San Francisco on July 29 with mixed results. Rest & Belcher and Bodie Company show modest gains while Chollar and Cala and Va struggle. Con Gow & Curyescarcescere and Sale & Norcross report slight movements with Saragossa and Yellow Jacket also noted.
A scanned list profiles numerous sales houses and firms by city and state. It names Stern Bros Ads Akron Phinney Co Grattan Mitchell Co ONeill & Sons Dodge & Co Creedon Simon Lauer Patos Bichro G M Spencer Watkins Spencer Weller & Payne Bauer Kahn Heffelfinger Hann Beekman Weil D Weil Co Bauer Trefzger Lippincott Jenks Lewis O J Lewis Co Alfred Stebbins Toad Woolman Todd Chase Friedman Loveman Tallman Hurd Young Baker Morgan Bros and others across Aberdeen Akron Baltimore Canton Clarksville Charleston Chicago Cleveland Chattanooga Cincinnati Detroit Evansville Dublin Dallas Lexington Louisville Mexia Minn Philadelphia San Francisco Selma St. Louis Toledo Topeka Tuscaloosa Utica Waco Kansas City Omaha Nashville Memphis.
Dr Neumann Spallart cites a world wool output near 869 million kilograms with year to year growth detectable. Europe accounts for about 44 percent, Britain about 111 to 115 million pounds, and the UK reportedly ships three times its own wool due to its woollen industry tied to Australian colonies.
Dr C R Dake of Belleville Illinois reports prescribing hundreds of bottles of Horsford’s Acid Phosphates. He states it is of great value in various nervous diseases that involve loss of power and weakness.
The article compares wool to cotton, noting wool yields two and a half pounds of cotton per year from one pound of wool and woollen cloth lasting longer. It estimates global consumption needs, population figures, and per head spending across countries, arguing wool is widely produced and regularly enters markets, with consumption varying by nation.
A feature on New South Wales wool notes a rise in bales sent to the United States, about 30 600 total with 10 000 to San Francisco. American buyers attend sales across Sydney Melbourne Geelong and other centers, aiming to ship direct to the US and compete with European mills. Differences in quality and a troublesome hemp-like white fibre in American merino affect dyeing and yarn strength.
Trade remains dull for flour with prices unchanged while corn markets stay firm as steamer yellow sells at 57 57c and steamer mixed at 56c. Oats ease slightly with No 2 white at 41 42c and May oats firm on the ccsl. Inspections show 194 cars across various grades. Flour and millfeed prices listed with assorted grinds and export bids, rye and hops quoted with regional ranges.
The butter trade shows little change with quiet activity and firmer top grade markets. In Chicago and New York the scene is uneven with Western creamery and Eastern creamery prices rising slightly while eggs and cheese show mixed but stable demand. A broad spread of farm goods including beans, seeds, hay, and produce remains steady to dull, with some items like wild berries and bananas moving at modest wholesale levels.
Packed meats hold steady while veals muttons and lambs stay quiet. Pork and lard prices vary by cut, with long cuts at 14 14 50 and light backs at 13 50 14 00. Beef ranges include extra plate at 10 10 50 per bb, plate and extra family at 10 50 11 00, and other cuts from 4 7c to 12c. Fresh beef shows varied quotes for steers, heifers, and cuts, with ranges from 4 3lgc to 12c. Other fresh meats list lambs, mutton, yearlings, and veal with per unit and per weight quotes across regions. Prices reflect size and cure where noted.
The mixed cotton market shows steady prices across grades with middling uplands and gulf around 9 9/16 to 9 5/8 cents. Liverpool futures opened and closed quietly with various July to September delivery spans. spot market opened steady and closed unchanged at 66 cents for mid uplands and Orleans amid good demand and sales of about 10 bales.
The report shows bid and asked quotes across months July to December with steady market, plus detailed commodity prices for sugar raw and refined, molasses, oil, and naphtha. It notes closed telegraph line certificates, ship charters, exports, and crude/refined oil run shipments with quantities and prices.
Cotton higher with 4718 bales traded and varied upland and Orleans quotes. Wheat and flour totals shift, Chicago and Milwaukee prices noted. Provisions and fats move lightly. pork, lard, and beef values reported with mixed regional receipts and shipments across Detroit Milwaukee Chicago and St. Louis.
Cattle receipts total 10 690 with shipments 2200 and 950 1500 ths. Through Texans 5 10c lower. Cows bulls and mixed $150 36, bulk $250 290. Hogs receipts 17 500, shipments 3000, market steady with common lower and rough mixed $4 20 490, packing and shipping $4 70 5 15, light $4 15 500. Sheep receipts 5400, shipments 400, market lower natives $175 400 Western $259 3 40 Texans $175 300.
Auction style report lists net receipts gross shipments stock and price levels across major southern ports including Augusta Galveston New Orleans Mobile Memphis Savannah Charleston Wilmington Norfolk Philadelphia Baltimore New York Cincinnati St. Louis and Louisville with consolidated totals for six days and exports to Great Britain France and the continent. Prices show steady to firm tones with mid values ranging around 9 to 99 16 cents and volumes varying by port.
Special despatches report Chicago market conditions with wheat holding above 7 7 and 7 4 cents, corn near its length and weather risks in Nebraska and Iowa, provisions sliding with corn, and oats and fats showing mixed closes. Bears remain active and expect an August rebound amid overall selling pressure.
A late private despatch from Emery & Hodges at State Street notes wheat opened lower but recovered, corn strength aiding wheat early, then dullness as buying faded. London silver slump signals lower Indian wheat prices, while receipts and futures quotes show mixed demand and ongoing speculative activity amid war fears.
Chicago dispatch reports wheat receipts signaling end of rushes with export demand lifting prices. Wheat closes around 77 1/4 cents, while corn remains volatile with brisk trading and a strong average open near 47 1/4 cents, final around 46 1/4 cents.
Beerbohm reports a quieter market for wheat off the coast and for shipment while wheat at Liverpool remains steady. Corn shows firm prices with light offerings and weak demand as winter and spring wheat quotes are listed with club prices and assorted cereals in the 63s to 64s range and around 43s for corn.
A dense list of shipments from Ponce Saint Martins Annapolis Liverpool and more, detailing schooners Atwood Blizzard Nellie Coleman steamer Stamford New Brunswick and Iowa with varied cargoes including molasses salt logwood bananas eggs wool dye and clothing. Numerous firms such as Bates Barnet Whit ney Phipps Russell F L Cements J R Kilis Lehy Garland U R Noyes and Barings Bros & Co appear as consignors or buyers with quantities ranging from cases eggs to bales wool and casks of oil and soda.
Shipping list records Addie John schooner loading 250 barrels flour and 75 barrels in Margaretsville NS, G Curtis schooner shipping 125 barrels to Saint John NB, and the steamer New Brunswick carrying 20 bales hemp plus assorted groceries and produce including crates of cabbages melons oranges lemons apples pineapples eggs and other items.
Receipts listing freight from multiple railroads on Thursday July 2 include Beaton Albany Grand Junction Boston & Providence New York & New England Kaikosu Fitchburg Boston & Maine divisions Boston & Lowell and Boston & Maine Western. Items cover cotton wool flour corn oats wheat malt millfeed butter cheese eggs potatoes lumber leather hides bales sacks bbls hogs pork and other commodities with quantities across each line.
Principal staples received at the port from all shipment points today compared with the same day last year show cotton bales and wheat leading, with figures for eggs cheese beans corn apples oats and many items listed in boxes bales cases and bushels. Names of commodities and unit counts from 1886 and 1885 are presented side by side for comparison.
A dense schedule lists Framingham Marlborough Fayville Southborough and many other stations with 7.15 11.05 am and various ex and PM times, plus return leaves from Fitchburg and Boston. The note includes Sundays special services to Newton Lower Falls Wellesley Hills Newton Highlands and Brookline routes, with agency stamps and reference to John Adams, general superintendent.
On and after June 28 1886 trains depart Boston from B and L depot for Manchester Concord NH and upper railroads at 7 30 8 30 Ex am 12m Ex 3 5 30 7 pm Sundays 1 pm From B and M depot at 7 30 am 12m 5 pm Returning leave Concord N B for Boston at 5 30 7 30 10 20 am 3 60 Bx 3 35 5 05 x 6 27 Ex pm Sundays 7 aE CoA MBRBLUN Supt
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