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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 12, 1890
Page
6
The Boston money market shows easier lending with clearing house loans at 4 42 65 percent and time loans around 5 5 percent. Exchange figures, New York funds rates, and a new city loan offer of 4 percent for $574,000 are noted, while stocks and bonds move with Atchison leading gains and broader market activity across utilities and rail shares.
February 1889 reports show No 1 shaft at 1701 feet after sinking 90 feet last month and No 2 shaft at 1182 feet after sinking 70 feet. Dividends declared include Lehigh Valley 1 percent, New Haven Hartford 2.42 percent, Belknap Savings Bank 2.42 percent, Manhattan Elevated 1 percent, and Western Union 1.4 percent.
The Commissioners of the Public Debt of Milwaukee invite sealed proposals for the issue of sixty City Hall Bonds of $1,000 each under Chapter 33 of the laws of 1889. Bids due March 20, 1890, at 10 a.m. with delivery planned for April 1, 1890.
Denver City offers loans at 6 percent with guaranteed principal and interest. The program pledges safety for investors with a formal guarantee and clear repayment terms.
Investors are invited to consider the sale of 9660 shares of treasury stock. The business pays a regular 10 percent annual dividend with payments each January and July. Full details available at the Office Loom 42, Niles Building, School Street, Boston.
Subscriptions to the remaining treasury stock of the American Exports and Trading Company of New York are accepted until March 12 1890 at 25 per share. The next 50 000 will be offered at 50 and the subsequent 50 000 at 35, all to be completed by March 20 1890. After that, no subscriptions at less than 40 per share. Proceeds to the executive committee. Also Oregon and Transcontinental Company seeks proposals to sell its First Mortgage Trust Bonds, with bids due April 4 1890. Henry Villard, President.
Holders of 6 percent Androscoggin and Kennebec bonds maturing 1890 to 1891 may exchange their holdings for new 40 percent Maine Central Consolidated Mortgage bonds on advantageous terms. For details apply to Fred E. Richards, Banker, 98 Exchange Street, Portland. The Doran Wright Co.
Private wire to New York from 7 Exchange Place. Members of the exchange are noted in this brief item highlighting the ongoing private communications network linked to the energy and commodities market.
Furnished by F. W. re & Co with a list of electric stock figures and company names. Includes Eastern Electric Cable Co preferred, Gething Electrical Mfg Co, Le Union Electric Car Co, United States Mat Box Co, Thomson-Houston Co, Thomson European Electric Welding Coll, and related stock prices and identifiers. The fragmentary page reflects market tickers and issuer codes from a historical financial column.
Money on call ease continues with last loan at 3 and 60 day bills near 4.8134. Sterling weak, government bonds dull, rail bonds steady. Reading stock fluctuated but finished generally dull yet firmer, with Grangers leading and Union Pacific support easing early selling. Gould stocks Missouri Pacific and Manhattan rose on cash dividends. New England and Western Union mixed.
London midday rates for Canadian Pacific and Erie shares show modest shifts while three month bills sit near 2 and 3 percent. Paris quotes fix venues at 3 percent. Atlantic & Great Western, Illinois Central and Reading list with mixed gains. Bar silver holds around 43 a slight bullion outflow totaled £22,000 at the Bank of England today.
Archibald H. Grimke spoke at Norcross Hall on Charles Sumner’s death anniversary, praising the eminent American’s life and work. A loaned portrait of Sumner decorated the platform, while Baldwin noted its loan from former Governor Claflin. Grimke contrasted Sumner with Webster, praising Sumner’s moral steadfastness and eloquence of character.
Do not waste time with uncertain medicines when Dr Pierce Golden Medical Discovery is claimed to cure diseases of the blood skin and scalp and all scrofulous afflictions or money back. A five hundred dollar reward is offered for an incurable catarrh case by Dr Sage’s Remedy. A new dining car will be added to the 4 o’clock Boston to New York train with high quality cuisine and service.
The report lists steady to firm prices across commodities and lumber products. It notes movements in coal flour corn oats rye and other staples, with lumber prices for various species and dimensions given alongside demand indicators and regional notes on Western can lumber and shingles.
Fall River on March 11 reports a very quiet print cath market with quotations unchanged and little business conducted.
James and Abbot Lumber notes no major shifts in the week, with strong demand for spruce from down East driving unprecedented activity. Prices firm across sizes, with random cargoes at 14 14.50, yard stock 15.50 16.00, and other grades like clear spruce boards at 20 22, while Northern mills face log shortages and delays into May. Southern markets see firmer cypress and upward price hints, with large shipments planned and freight rates steady.
The anthracite market shows better local demand from colder weather but buyers hesitate on quantities. Bituminous coal sees active competition for large orders with contracts at low figures and delays on Fitchburg rail plans. Pocahontas and Clearfield firms prepare to compete locally. Week’s anthracite shipments reach 436,972 tons, down from last year. year to date totals trail 1889. The Pottsville Miners Journal notes a cold snap followed by weak activity and a disappointing season for miners and sellers, with hope shifting to summer trade. Reading’s General Manager Hen and Lehigh Valley indicate readiness to ramp up output as demand returns.
Market dull with little flour sold as jopbers and dealers show short stocks. Wheat outlook from Prime Crop Bureau notes March conditions vary by region, with winter kill reported in the southern winter wheat belt and warmer weather needed before seeding resumes. Spot flour prices per grade listed. New York and St Louis receipts and shipments shown. corn and oats futures and cash values noted with steamer yellow and mixed corn quotations and low demand for low grades.
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