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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 30, 1888
Page
6
The Boston Money Market shows rates steady at 6 percent with ample offerings to meet demand. New York balances stand at $100,877,116 with modest demand. overall markets reflect unchanged general tones, with bonds, stocks, and treasury figures listed across major exchanges, plus notable activity in Atchison and Chicago lines.
The Maine House lectured members on assignment delays as Speaker Noyes urged propriety. A labor committee amended child employment bill, then sent it for a third reading. In the Senate, a bill allowing Boston and Maine to buy the Eastern road moved to engrossment after debate. A committee report proposed an elected superintendent for a district comprising several towns with half by towns and half by the state.
Bills were reported from committees to include Rockport within Gloucester Police Court jurisdiction, to form Middlesex Land Co with 200000 dollars capital, to confirm Trinitarian Church actions in New Bedford and authorize property value 200000, and to allow Marblehead water loan payments. Also, a major debate on the Boston & Maine Eastern consolidation, caps on stock, and dividends, with opposition and support from Senators Crosby Glines Sprague Southworth Dwyer.
Committees reported a new draft of a bill setting salaries for the state judiciary with chief justice at 6500 dollars and other justices at 6000 for the Superior Court, 5500 for the chief justice and 500 for other justices in the Supreme Court, plus 500 for travel. It authorizes 2000 for prison shop materials and presses, barring dog personal property taxes, and revises bounty for seals tails to one dollar with county funding. The House admitted Hartford West Railroad extension petition to Springfield, rejected Bradford Water Company petition, and Worcester mayor petition on precinct voter limits remains unresolved.
The House rejected a March 19 vote to concur with the Senate on suspending the twelfth joint rule. They discussed a general law allowing Massachusetts chartered railroads to consolidate with bridges or acquire connecting roads, with a 114 to 80 vote against sitting for the order. The unfinished business focused on child employment, debating raising the age to 14, with opposition to lowering to 12. Discussants urged protecting children and balancing labor and manufacturer concerns, leading to amendments on school certificates and employment tickets, and the bill advancing to a third reading.
The committee on public service debated exempting veterans from civil service laws. Richard H. Dana argued current exemptions aid veterans by simplifying entry and ensuring good character, while General Osborn warned total exemption would invite abuses and confusion. The order was postponed for lack of support.
Brice S Evans Aldrich and Judge Hale testified to a taxation committee supporting a bill allowing appeals to the Superior Court or tax abatements. Rev A H Quint and Charles T Bonney urged restricting youth meetings in parishes to adults. No opposition, hearing closed. Crocker urged shorthand records for railroad accident inquests and a bill directing cost to the road involved.
The First National Bank of South Weymouth announces a 4 percent dividend. Abington Savings Bank declares a semi annual 214 percent dividend. Central National Bank of Lynn pays a 34 percent dividend on April 2. National Bank of South Reading Wakefield declares a 344 percent semi annual dividend tax free, payable April 2.
A new fireproofing material called Porous Earthenwares uses surface clay straw and sawdust by Gilman. The process blends the ingredients and forms blocks or sheets via steam pressing, drying, and kilns producing light, porous wares that weigh a third of brick. They resist heat and sound, require no lathing, and may replace lumber and plaster in walls. Production has expanded to several US and Canadian factories, with New England Terra Cotta Lumber Co. leading in control and expansion.
London market figures show Consols at 101 11 16 for money and 101 for account with several issue prices for rail and utility stocks. Paris reports 3 per cent rentes at 82 francs 25 centimes, Bank of England bullion changes noted, and reserve ratio rising to 67.69 per cent. Liverpool indicates holidays on April 2 for corn and provisions and a weekly market statement totaling 1,550 cases.
Money on call easy 2 to 6, last loan 4, closing offered 5. Prime mercantile paper 5 7, bar silver 94 56. Sterling dull, actual 4.8534 4.86 for 60 days, 4.8734 4.88 for demand. Government bonds weak except currency fixes. Stock list fluctuated, Erie and St Paul leading, Manhattan up 24% then pared, later weakness, Reading drop 4 1/2, Consolidated Gas down 14 1/2. Market ends quiet and firm near day lows, mixed but generally higher. Bond sales steady at $770,000. various issues moved on gains and losses.
The Flint and Pere Marquette stockholders defend the court ruling that the company must pay deficiencies on the preferred stock while preserving their belief in conservative management ahead. They argue full 7 percent dividends were improper and that the land funds, long unused, should support equitable distribution.
The Supreme Judicial Court continued the case against the police commissioners, arguing the act creating the board is unconstitutional. The matter, involving Frederick Prince and others seeking restraining orders, was postponed to the November term due to illness of counsel.
A list of boot and shoe buyers and agents with names and firms across multiple cities including Boston Atlanta Albany Baltimore Cincinnati Chicago Columbus Detroit Knoxville Memphis Omaha Portsmouth Richmond Rochester St Louis Savannah and St Paul. The Revere House has been fully refurbished in an elegant, comfortable style.
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