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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
May 22, 1888
Page
6
The Boston New England money market opens with unchanged clearing house rate at 2 percent and loans from 8 to 8.5 percent. Treasury offers and bond activity show mixed results while exchanges and balances fall versus last year. Foreign exchange on Paris and London markets nudges higher amid holiday closures.
The Homestake Mining Company announces its 118th dividend of 25000 dollars for April, payable on the 25th. Transfers close on the 19th. Total dividends to date amount to 4118750 dollars.
The Territory of Utah invites bids by 12 noon May 1 1888 for 150 bonds of 1000 dollars each at 5 percent interest payable semi annually. Principal due in 20 years, redeemable after 10 years. Redemption fund ensures periodic payment, bonds not sold below par, highest bid wins with bidder security. Bonds tax exempt within the Territory and issued to build educational institutions under an 1888 act. James Jack, Territorial Treasurer.
Boston based sale by Williams and Co lists auctioned shares and rights from multiple railroads banks and companies. It includes Metropolitan National Bank Sugar Refineries and other firms with quantities and descriptions, followed by New York Stock Sales data for May 21 with share totals and daily price ranges.
Wheat opened strong but eased through the day with small rallies and heavy selling. Corn and oats follow the soft trend as receipts stay liberal and delivery is hindered by wet weather. Hog prices bid up by light lard stocks contrast with a bear market stance among packers.
Money on call easy with last loan at 14 percent and closing offered at 144. Prime mercantile paper at 41% 6% demand fair, good paper scarce. Silver steady at 9 14. Sterling exchange quiet but firm. Government and railroad bonds quiet but firm to strong. Stocks dull after 2 15 with small gains from Union Pacific and late strength, closing quiet but firm near opening levels. Railroad bonds active with total sales $1 528 million and several issues advancing on the day.
Commercial markets show flour firm and corn easier with oats higher. Rice and meal trends mixed. Butter and eggs firm with strong demand. pork and lard steady. Poultry and beef quiet while veals improve. Hops dull and molasses unchanged. Truck traffic active and sugar steady with refined varieties quiet.
The exports of flour grain produce and provisions from Boston port for the week ending May 19 are listed with comparisons. Details show the quantities and destinations, highlighting movement of staples and related commodities through the port.
A fragmented list enumerates boot and shoe buyers and firms across multiple cities including Burlington Chicago Qu Chicago Cleveland Cincinnati Philadelphia Indianapolis Jone Mobils Meridian Pittsburg St Joseph etc. Entries include firm names and notable agents or partners, reflecting a trade directory snippet.
The market for canned peas corn and tomatoes remains steady with last quoted prices. New crop peas packing began in Baltimore with fresh stock selling up to 350 dollars per barrel, higher than last year’s start, while future costs and contract deliveries remain unsettled as packers gauge expenses.
Local carload quotations for all grains except rye show flour prices firm with quiet mill activity and stronger retail demand at full prices. Listing various grades and regional prices, receipts and shipments from New York St Louis Milwaukee Chicago are noted as trade eases with dull activity and lower levels for corn.
Butter markets show no change with strong demand at old prices and shortages under 23c. Western and Vermont dairy quotings range from 20c to 27c, with varied grades. eggs and beans also steady but quiet, while potatoes hold near last quotes with New Southern arrivals noted.
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