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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 06, 1888
Page
6
The Money Market opens the week muted with stable discount rates and steady clearing house balances. Government securities stay quiet while New York and Chicago exchanges show substantial totals. Boston bank statements reveal mixed loan gains and reserve declines, and local stock trading remains weak with varied shifts across rail and bank issues.
The Atlanta and Charlotte Air Line Railway Company announces a dividend of 242 percent. The company notes this payment reflects profits and is payable to shareholders of record as specified in the notice.
Money on call easy at 2 to 3 percent, last at 3, sterling dull. Government bonds soft, railroad bonds quiet to weak. Stock market overall dull, heavy tone, Reading declines on coal demand. Missouri Pacific strong on earnings hopes. Wheeling & Lake Erie weakest. Bonds sales $1.182 million. Rock Island and Erie show gains. overall activity up vs weeks past but still tepid.
A dense listing of closing bond quotes and mining stocks with prices and percentages including Nav. Ists, D. & RG, Preece Pacific, Tex. P. L. G., Wells Fargo, Adams, U.S. 7272a, American, and Well Fargo. Also notes Amador Ontario Bullion Quicksilver Col. Coal Standard Hale & Nor Union Colls and Homestake with percent changes and price figures.
The Allouez Mining Company reports a year of tight finances with assets of 50,965.01 and liabilities of 2,467.04 leaving net assets of 48,407.97 at Dec 31 1887. Copper sales totaled 10,388 cents, receipts about 8,896.93, while expenditures exceeded receipts by 1,728.62. mine operations paused due to low copper prices and lessee defaults, with plans to resume once market and surface plant conditions improve.
London and New York money and bond prices are listed with yields for Consols Atlantic and Great Western Erie Mexican and other issues. Market discounts show money rates around 2 percent and three months bills about 134 percent.
At yesterday's stockholders meetings, Commercial Wharf Company elected Eben Bacon as president with a slate of directors including George M. Barbara and Charles J. Shimmin. East Boston Dry Dock Company named Jen 8 Emery president and J. H. Whitaker secretary treasurer. Boston Gaslight Company kept most directors with Robert Codman succeeding Augustus Plage, while discussions on negotiations with other firms were referred to the board.
Inquests since Dec 17 report careless acts by the deceased in several railway related deaths including Edward Thompson Albert Gorham James Roberts Sarah Jones Nora Mulvey and Patrick Donelly who died after a street fall while intoxicated. Judge Hardy says evidence fails to prove culpability of the railway firms for Eugene Massey brakeman and Jon Fairbanks car coupler. George Whitcomb and Bridget Maguire pistol deaths need no further reports. railroads dominate the proceedings.
A compiled roster of buyers and firms in Boston Bloomington Baltimore Cincinnati Chicago Des Moines Kansas City Kalamazoo Louisville Minneapolis St Paul Sedalia Toledo Uniontown Wichita Wheeling and other locations, naming agents and companies such as Smith & Sons Carrell Adams Co O Neil Selz Schwab Parf & Co Phelps Dodge Kellogg North Star and more. An ending proverb and Pearline ad follow.
Canned goods hold steady while flour remains quiet yet steady and corn stays firm but dull. Oats advance slightly while cornmeal and oatmeal hold steady. rye and buckwheat are firm or steady. Butter and cheese stay quiet or firm. eggs ease. Demand steady for beans and hay, with potatoes and sweet potatoes mostly unchanged.
A dense catalog of canned goods and meats with prices per dozen and per unit. Items include lobsters mackerel oysters salmon tomatoes peaches pineapples pears peaches and various beef and tongue products with varying pack weights and deal terms. The list reflects a late 19th or early 20th century wholesale market price sheet.
The weekly tally from Boston port records flour grain produce and provisions exports. Figures show comparative totals against prior periods and indicate shifts in shipment activity for the week ending March 3.
Wheat showed strength in sympathy with corn with a smaller trading volume. Visible supply fell by about 947 000 bushels as rumors of a railroad strike had limited impact. Corn opened weaker but recouped as a leading seller bought in. receipts showed 417 cars with all grading as No 2. Provisions opened weak but firmed with corn, while hog receipts were 9,212 last Saturday and an estimated 14,000 today. price levels ranged around 5 30 to 5 50 for various hog categories.
The canned goods market remains steady with ample supply and firm prices. Buyers await next season's California fruits and tomatoes while Maryland and New York goods see varied demand. several large sales and bids at adjusted prices reflect higher packing costs.
Grain stocks listed for Meh 88 Feb 27 include corn oats rye barley and wheat with New York Chicago and Boston figures. Flour and grain markets show quiet steady trade with bid and ask ranges for wheat corn oats barley and rye and various flour grades.
The wholesale market remains near last quotes with firm prices for small receipts. Creameries across regions show varied quotes from 20 to 30 cents for Western and New York products, while eggs stay unsettled with large Western supply and lower prices. Beans seeds and timothy forage hold steady while potatoes stay steady with fair demand.
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