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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
May 17, 1889
Page
6
Boston markets show a dull steady money market with 1 percent clearings. Loans ranged 3 to 5 percent, call loans 2 to 2 1/2 percent. Large transfers from New York on Frank Jones brewery sale. Exchange and balance figures noted. bond offerings and rate changes reported across several rail and financial entities.
The Portland Savings Bank has declared a dividend at the rate of 44 percent. The North Pennsylvania Railroad Company has declared a quarterly dividend of 2 percent.
Help wanted for a man under fifty with good character and wide acquaintance to sell municipal bonds and Western securities in Boston and vicinity. Address “Securities” care of Boston Post.
Notice of annual stockholders meeting to elect a board of directors and transact other business. Meeting to be held at Port and Oregon on Monday June 17 1889 at 12 oclock m. Stock transfer books close oclock p m May 17 and reopen 10 oclock a m June 18 1889. Assistant Secretary ED WARD EDES.
Money on call ranged 2 to 2 percent with last loan at 2 percent and closing at 24 percent. Sterling dull and steady with sixty day bills at 4.87 and demand at 4.89. Government and steppa bonds steady. Stocks opened heavy with Wheeling & Lake Erie and Rock Island down. but the list firmed, led by grangers Burlington and Rock Island with strong buying and best prices near 2 p m. Reading and Cotton Oil spurred gains as smaller bulls realized profits.
Reading leads gainers with a 1 percent rise as Reading hits 46 and Burlington reaches 101. Transcontinental stock edges higher while Unlisted Cotton Oil surges 13 percent above opening. Bonds stay active with total sales around 1.78 million and numerous issues posting fractional advances.
London trading shows Consols at 99 3 16 for money and account with gains across several rail and utility issues including Atlantic and Great Western 31s Canadian Pacific 56 1 2 Erie 29 limited to seconds 106 Illinois Central 117 1 2 Mexican ordinary 62 Reading 64 Pennsylvania 64 38 and St Paul 69 2. Bank of England bullion rose by 948000 pounds in the past week and the reserve ratio fell to 37.34 percent from 40.87. Paris reports Bank of France gold up 6 700 800 francs and silver up 2 325 000 francs.
Samuel Hatch and Co sold the Indian Orchard Mills at Springfield Massachusetts for 164000 dollars cash and tax for 1889 to H K Wright.
Houghton and Dutton have received 23 000 rolls of wall papers in latest designs and varied styles offered at wonderfully low prices.
Wool and flour hold steady while corn eases and oats grow dull. Cottonseed meal stays strong and cheese remains firm. eggs and pork soften as fresh beef and oranges show demand. Hay and straw stay active with other farm goods moving at varying paces.
The print cloth market in Fall River shows no change in quotations with steady business activity. Traders note stable prices across textiles as buyers and sellers maintain cautious optimism.
Leather markets show a quiet steady tone with some small and large sales only at concessions. Prices hold for finished leathers and most hides, while demand varies by grade from stronger in grain to weaker in rough and split categories, with foreign hides softer and domestic prices stable to lower.
Weekly wool receipts total 4573 bags domestic and 11351 bales foreign, with year to date figures 85175 bags domestic and 82542 bales foreign. Prices remain firm across regions from Galveston to San Francisco, with notable clips selling at 4 1 4 1 2 c and 18 21 c in Texas, and Texas wools trading firm in St Louis at 23 24 c.
Wool prices hold firm with Michigan and Ohio fleeces at 29 30c and 31 34c ranges. Combing and delaine wools show little change while Territory and Texas lots remain quiet. Stronger demand noted for eastern Oregon and various imported wools, with a broad table of regional quotes across the United States and beyond.
The Opion Markets report from Chicago notes wheat fell one cent on weak cables and persistent selling by bears and discouraged bulls. Prospects are strong for crops with near harvest, while corn receipts rise and cash demand eases. Hog prices hold, pork demand remains steady, and rib buyers are cautious as bears seek to control prices.
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