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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 08, 1887
Page
6
Boston markets show firm money conditions with little change in rates. West End and Wollaston Land stocks drive heavy trading on the Boston Stock Exchange, amid speculation on Metropolitan and Old Colony railroad developments and Wollaston land expansion plans in Quincy Massachusetts.
Boston New York and Philadelphia stock orders plus New York stock sales totaling 204 700 shares. Reports show mixed opening high low and closing prices. Also court hearings on bondholder income claims and a Providence Steamship general appointment and railway agents meeting with February 1887 and Jan 1 to Mar 1 1887 freight earnings figures across several lines.
The Old Colony plan to erect repair shops: Wollaston Land Company grows from long term development. Stock activity includes Boylston Land at 9 4, Brookline 7 then 6, Boston 9, San Diego 17 2, Water Power firm 7 7, Frenchman's Bay 4 4, Lamson Store Service 56, Bonanza Mining 21 16 to 2.
London on March 7 quotes Consols at 100 13 16 money and 101 11 16 for the account. U S 4s at 131 14, 44s at 111 1 2, Atlantic and Great Western firsts 47 5 8, seconds 11 1 8, Canadian Pacific 61 1, Erie 3 45, Erie seconds 101 1 4, Mexican ordinary 54 1 2, Pennsylvania 59, Reading 19.
Money on call eased at 3 percent with bids 2 56 and 3 percent offered. Government and railroad bonds remained dull to steady while stock activity picked up after 2:15 led by Western Union and several rail issues. The day closed firm near day’s best with total sales around 1,004,000.
A New York despatch claims a prominent city railroad man said Baltimore & Ohio plans to foreclose the Philadelphia & Reading and Jersey Central then absorb them. The deal allegedly arose at Robert Garretts Baltimore dinner with Austin Corbin and Alfred Sully in the syndicate, giving B and O a New York entrance.
The Peoria Decatur Evansville road reports 1886 gross earnings of 814 745 up from 786 984 in 1885, expenses 398 069 down from 405 191, net 421 675 up 89 883, and interest and rent 352 200 up 54 642 with surplus 69 475 down from 84 235. The 1886 interest includes car trusts payments and accrued interest on new seconds issued in place of incomes.
The Gulf Colorado Santa Fe Railroad Company lists its new board for the coming year. Directors include Waller Davis, R. B. Wells, George Sealy and Webster Snyder of Galveston, with W. K. Strong Isaac T. Burr and J. N. Nickerson of Boston also serving on the board.
A circular signed by Presidents Watrous Choate Bliss Morey Lord Phillips Whitney and Vice-President Shinn calls a meeting at the president's office of the Lowell road for Thursday March 10 at 11 a m to consider the effect of the interstate commerce law on New England icons.
Late net earnings of the Northern Pacific Railway are shown for 1887 and 1886. The period from July 1, 1886 to January 31, 1887 reports totals of 4,010,845 and 8,671,038 with 339,812 for the latter. Land sales in seven months of the fiscal year end totaled 165,479 acres with proceeds of 577,065.
An editorialish ad praises steady attention to business and promotes G. O. Taylor whiskey and pure rye sold in bottles by Chester H. Graves & Sons with their signature over the cork.
Commercial matters show pig iron unchanged and rails quiet while bar iron and plate iron demand remains fair to good. Copper quiet, tin stronger, corn firm, oats steady, oatmeal firm, rye stable, flour quiet, beef provisions firm, butter and cheese firm, eggs easier, potatoes fair, hay quiet, straw steady, grass seeds quiet, truck fair, tallow quiet, molasses steady, sugar unchanged, fresh beet firmer.
American pig iron and related metals show no change as mills stay busy and demand remains steady. Prices hold across iron, steel, copper, lead, tin and zinc with light receipts and selective strength in enamelled, tube and pipe iron, and steel rails. Demand varies by item and region, with London tin prices noted and domestic stocks reported as light.
The Boston flour and grain market shows a quiet, firm tone with steady quotations. Reports note large sales, firm corn prices, and steady oats, with mixed and white wheat prices developing and a closing price near recent levels. Stocks in Chicago and New York separate from Boston data indicate broad market activity and visible supplies.
Market notes show oats barley and malt prices for Canada and the U S with premiums for choice six rowed barley and hops. Butter cheese eggs and beans quoted by region with firm butter and steady cheese. produce exports to Boston cited for Feb 26 and March 6 1887. Poultry game and venison prices listed with truck and seed rates. hay and rye straw demand steady.
Apple buyers report strong demand with a firm market across varieties. Jersey cranberries bring $2 756 300 per crate while New York dried apples stay quiet and steady. Strawberries fetch 15c to 40c per boat, up to 50c for select lots. Various apple and nut prices listed for Baldwin, Greening, Northern Spy, peanuts, pecans, and hickory. Foreign fruits and Florida oranges show varied quotes by box and weight.
The listing shows prices for beef pork and lamb items including ribs tongues and hams with per hundred weights and pail sizes. It notes fresh beef grades including choice steers heavy lambs and mutton with regional price ranges and unit measures.
Futures opened barely steady in Liverpool with mixed March to October quotes and dull closes. Spot U S prices firm for middling Uplands while New York spot remains quiet. Futures bids and asks listed for March through December with various spreads. Pipeline certificates show activity. refined oil and sugar markets stay firm with multiple grade quotes. Molasses notes with Caribbean cargo values included.
New York reports steady flour and mixed grain prices with exports up. Wheat futures ease. corn and oats fluctuate. Chicago and St Louis show varied shifts in pork, lard, and bulk meats amid regional receipts and shipments.
Market notes from Kansas City St Louis Peoria and Chicago. Hogs firm to higher with varied prices and strong receipts. Cattle trade strong with shipping steers 3.50 to 6.10 and other categories ranging 2.50 to 3.90. Sheep markets mixed and lower with native and Western offerings listed.
Market summary for March 7 1887 reports Augusta net receipts 156 and gross 136 with sales 520 at mid yield and steady. Galveston net receipts 478 and gross 478 with steady market activity.
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