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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jun 10, 1887
Page
6
The Money Market shows little change with demand for funds moderate. Loans on call with collateral range 3% to 4%, corporation paper at 4.5%, mercantile paper at 4% to 6%, and county banks discounting good paper around 6%. Boston shares focus on West End, Water Power, and Atlantic & Pacific with a steady close and room for tomorrow’s tone.
Mining and miscellaneous stocks report a steady boot and shoe market with rising orders from mail and samples. West and South cross roads trade improves as jobbers seek timely delivery. calf lines active but distribution uneven. Buff lines unchanged. consolidation keeps prices firm. Weekly shipments total 45,700 this week and 42,428 prior week with large year totals.
Chicago despatch quotes P D Armour defending a ten million dollar St Paul stock issue. He notes the Chicago and Evanston line will be free of liens and valued highly, 700000 shares fund extensions into Gogebic country and a bridge into Nebraska, with the Merrill extension ready by November. The plan includes 200 miles into Gogebie and similar mileage to Nebraska, all free and unbonded.
London reports bond figures with Consols and rail stocks listed alongside United States securities. Paris Bank of France weekly statement records a gold rise of 1 075 000 francs and silver up 2 100 000 francs, reflecting a liquidity shift in early June.
Money on call eased to 3 4 and 4 last loan at 4 with closing offered at 4 Prime mercantile paper 6 Bar silver 96 Sterling exchange dull steady Government bonds dull steady Railroad bonds quiet heavy Market after 2 15 p m dull no price movement Western Union Reading Omaha active few sales Rock Island drop Wes Union Colonial Coal strength St Paul Lacrosse division 7s 128 Atchison Colorado & Pacific firsts 10844 Ohio Southern incomes 44 St Louis Arkansas & Texas seconds 48% Closing prices lower but few big changes New York stock sales 168 364 shares
Charles A. Sinclair, president of the Manchester & Lawrence railroad, demands delivery of the property and franchise by June 30. The Concord railroad directors unanimously approve the Boston, Concord & Montreal resolutions and back extensions to Cole Brook and other points, pending stockholders regain control.
The Cunard agent found Mrs Lynch, the insane pauper taken from the Cephalonia, and the company was fined 31000 by Collector Saltonstall. Captain Lambert refused to repatriate her, citing government authorities handling the case. Corporation Counsel Nettleton said Boston police lacked authority and duties lay with the company to place her aboard.
Commodity notes report price stability across grains and fats with potatoes in high demand and strawberries plentiful at low prices. April merchandise movement fell about 6 million compared with last year while imports rose by a similar amount. Major decreases occur in cotton and provisions. gains seen in breadstuffs sugar and molasses and wood.
The leather market shows quiet demand across rough and finished hides with most sales at concessions. Heavy skins and calfskins sell slowly while madew goods like boot grain and buff leather see varying demand. notable imports and stock figures circulate, including large lots and shipments to New York and Boston, with market prices favoring buyers in many segments.
The bureau of statistics reports April imports at 63,593,463 and exports at 47,626,460, a deficit of 15,961,003. For ten months to April 30, imports total 572,482,359 and exports 626,047,655, a surplus of 52,565,299. Net exports reach 60,300,000 including silver and imports include 32,700,000 gold, leaving a favorable balance of 27- in the period.
Chicago egg markets show steadiness while butter, cheese, and oats hold firm. Grain and produce briefs note prime yellow eyes bids at 165, oaten straw quiet, potatoes and beans steady, and a wide range of dairy and meat quotes amid varied regional demand and plentiful supply.
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