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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 14, 1889
Page
6
The Boston money market remained dull with loans 3% to 5% and call loans 2% to 4%. Clearing balances showed interbank lending at 1% to 2% and New York funds at 5 to 10 cents per $1000 discount. Bonds and stocks saw little excitement with modest daily totals and notable moves in a few rail and street holdings.
Quarterly dividends 1.4 percent for Western Union Telegraph Company and 3 per share quarterly for American Bell Telephone Company. Record date March 15 with payment April 15. Chicago, Milwaukee & St. Paul Railroad Company preferred stock offers a 2 percent semi annual dividend.
Boston notice states the March 4 1889 deadline passed for full terms on bonds under the January 30 circular. Majority of First Mortgage and Income Bonds deposited. remaining holders may deposit by April 10 1889 at Boston Safe Deposit or Glyn Mills in London to receive full receipts with per bond fees. After April 10 deposits incur double fees. Levi C. Wade president.
Money on call eased to 1 to 8 percent with last loan at 2 and close at 2. Sterling rates steady around 4.86 to 4.89 percent. Major stocks such as St. Paul and Lackawanna declined after lunch, Pullman fell further, while late trading saw some rallies in St. Paul and Pullman as Chattanooga strength emerged. Bonds remained dull but firm with varied gains across railroad issues and several firsts and seconds moving modestly.
The City Horse Market reports more horses for sale but lower prices than last spring. Sales at Bowler's stable included four fire engine horses and a trotter. Moses Colman & Son saw 64 head sold weekly with mixed demand. Walker's Bazaar moved 85 head. Prices generally eased by about 50 to 75 per head with weights noted, while Isburgh & Co and Combination sale stable posted fair to heavy activity and lower basis due to abundant supply. International Horse Exchange showed good business with carload arrivals and higher bulk sales around 200 to 250. Overall prices trend downward amid rising stock. next week expected better stock for driving and draught.
In London March 13 Consols quoted 9 75 for money and 9 713 16 for the account. Atlantic and Great Western firsts 33 percent. Canadian Pacific 50 percent. Illinois Central 112 4. Mexican ordinary 44 48. St Paul common 65. New York Central 110 42. Pennsylvania 55. Mexican Central firsts 72 4. Money 24 2 per cent. Paris 3 percent qun ted at 85 francs 50 centimes for the account. Comptoir dEscompte shares 412 francs. Rio Tinto 333 francs 75 centimes. bullion withdrawn from Bank of England today £48,000. Copper closed at £50 0s 10d. Rio Tinto closed 338 francs 75 centimes. ARIS reports strong bourse with bears buying and influential houses purchasing.
Bevton Caverly & Co offers fine mild cheese in various lots on favorable terms. Located at 8 North Market St stall 74 and 976 Faneuil Hall Market Boston.
Commercial notes indicate flour dull and corn steady while oats quiet and rye flour slow. Beans active and potatoes in good demand. fresh beef lower. sugars firm. lumber remains active. Prices reflect mixed activity with several items steady or firm and others subdued.
The lumber market remains steady with active small-order demand as spring starts. Eastern lumber and shingles show steady demand at firm prices, while clapboards stay in short supply and firm. Spruce cargoes light but car lots strong with upward price tendency. Hemlock and pine sectors hold a firmer tone amid limited receipts and steady to rising prices.
Domestic flour quotations range from fine and superfine at 2.50 to 3.40 per barrel up to winter patents at 6.40 to 6.75. Wheat prices fall as mills lower bids. Corn and oats demand is light with mixed grades and steady to firmer spot quotes in New York and Chicago. Receipts and shipments fluctuate across cities, signaling a quiet, uneven market for flour and grain overall.
An itemized slate of lumber prices and grades across species and stock, listing sap, clear sap, and low grades with per unit ranges. Includes Eastern pine and hardwoods with specific dimension notes, cargo and carload lots, and regional varieties such as Vermont spruce and coffin boards.
Farnum, Reardon & Co report wheat bids sufficient to start a rally but demand softens as small bulls exit at a loss. Export activity appears limited. Chicago corn rises on a bullish government report while oats stay quiet. Prices show firm Northwestern tones with various opening highs and lows across March June and July futures.
Butter demand quiet with tighter supplies for imitation creams and firmer prices from 22 to 29c. Eastern creamery and Western varieties steady. eggs ease amid warmer weather. cheese movement fair with small supply. Potatoes, beans, grass seeds and game markets noted with steady or dull trends in various regions, including Cincinnati New York and Chicago observations.
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