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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Nov 12, 1887
Page
6
The Boston money market held firm on Friday evening with unusually heavy exchanges at the clearing house totaling about $19.41 million as city tax distributions moved funds. Rates eased little with general business paper discounted around 6 to 7 percent and calls at 6 to 7 percent.
The Bound Brook road of Philadelphia has declared a two percent dividend payable November 16. The American Express Company has declared a five dollar per share dividend payable January 3, 1883. Books close December 10 and reopen January 4.
Stocks opened firm and rose through the day on foreign account buying with Reading Richmond & West Point leading gains. Hocking Valley St. Paul and Fort Worth & Denver firsts boosted activity, with bonds in stronger demand and several issues advancing to new highs.
The report covers Nov 11 New York stock activity with Wilson W Fay Co listing, notes on Milwaukee and Madison rail termini Milton Junction and a proposed line from Libertyville to Milton, and outlines stock list additions for several rail and utility firms. It also discusses Chicago and Indiana coal road mergers, San Francisco transit ambitions, receiver motions in Cincinnati, and detailed earnings by major railways through 1887 with regional transport expansions and technological exhibits at a Boston fair.
Money on call eased to 41 to 5 percent with last loan at 4 and closing offers at 4 percent. Gas and mercantile paper steady. bar silver at 95¼. Sterling exchange dull at 4.8134 4.82 for sixty day bills and 4.85 for demand. Government and railroad bonds dull but steady. Lackawanna rises 14% on sudden activity and strength. Overall market more active and ends near day’s highs after 2:15 p.m.
London market figures show Consols at 102 18-16 money and 108 3-4 account. U S 4s at 103 3-4, 44s at 111 1-2, Atlantic & Great Western 1sts 39 3-4, 2nds 81 4, Canadian Pacific 54 1/4, Erie 28 1/2, Erie 2nds 102, Illinois Central 120 7/8, Mexican ordinary 4 1/4, St. Paul 76 1/4, New York Central 110 1/4, Pennsylvania 58, Reading 33 1/2. Paris advices 3 per cent routes at 80 francs 70 cent for account.
Chicago, Milwaukee & St Paul officials consider building multiple new branches to boost division traffic. A likely first line would cut the Chicago to St Paul distance by about fifty miles. The firm is reported buying land for right of way from Libertyville Illinois to Milton Junction Wisconsin, altering the current circuitous through-route.
SEVANS and CC Bankers and Brokers at 991 Washington St offers stocks bonds and oil bought and sold for cash or on margin. Offices 1 2 and 3 next to Young's Hotel with direct wires to New York and Chicago. Extra facilities rapid service small margin profits unlimited brokers orders solicited.
The report shows mixed but largely steady to firmer conditions across commodities. Notes include firmer corn and eggs, firm butter, steady rye flour and tallow, and quiet to unchanged items like oats, cheese, molasses, and refined sugars. Demand ranges from good for millfeed and hay to fair for beans and cranberries.
The mackerel market is dull with light stocks and firm prices. Fresh fish are abundant with good demand. codfish exports remain steady. herring supply is healthy though Labrador herring are scarce. receipts from Boston port show varied weekly totals and price ranges for mackerel, herring, cod, hake, and canned goods.
No change in the flour market with steady demand and unchanged quotations. Wheat holds firm. corn and oats show firmer price levels, larger offerings, and active selling. Track and elevator prices quoted for steamer yellow, No 2 whites, clipped oats, and barley. December May and other calls listed with bids and asks. inspections total 20 cars. Flour prices ranged from $2.50 to $4.50 per barrel depending on grade and type.
The document lists prices for Michigan and New York rolled oats and wheat products, cornmeal, rye and oats flour, and malt. It gives bid and ask ranges for items such as winter wheat, spring patents, Canada export tob, cornmeal, rye flour, oats and barley grades, millfeed, cottonseed meal, and hops with quantities in tons, bushels, and per barrel.
Butter and cheese are firm with quiet trade and unchanged quotes. Creame ries offer 26 28c for choice fresh butter. cheese prices steady. Poultry and eggs hold firm with quiet sales. potatoes, sweet potatoes, hay, and seeds show steady to fair demand.
In Chicago butter demand fair with fewer extras. cheese unchanged. eggs firmer near 18 13 1?2 c. Liverpool dull for butter and cheese. trade quiet yet strong on straight lots. Cheese at 58s 6d. New York butter firm in fair demand. State creamery near 28e. Western 20 to 27 cents. Cheese firm and steady. eggs steady. beans and dried apples quiet.
There is a large supply of apples with slow sales and high grade Baldwin quotas. Grapes are plentiful with fair demand. cranberries show moderate demand but holders remain firm. Florida oranges and bright lemons are selling well. dried apples remain steady at old quotations. Regional prices for apples, cranberries, grapes, citrus, bananas, nuts and dried fruits are listed with specific lots and prices.
There is a good fair demand for truck at old prices. Onions Maltas two dollars per basket native three dollars per bushel Western two hundred fifty dollars per barrel cabbages eighty five and seven pence per 100 red cabbage two dollars per barrel savoy cabbage seventy five cents per barrel.
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