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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Oct 31, 1889
Page
6
The Boston money market remains quiet with the Clearing House rate at 3 percent, while New York money firms up to 10 percent. Sugar certificates lift market vigor. notable moves include Atchison bonds turning in and Chicago area rail names advancing. Bond offers and foreign exchange show mixed shifts as papers hinge on reorganizations and sector strength.
Yale and Towne Manufacturing Company announces a semi annual dividend of 2 percent. The declaration names the company and official payout terms. The move reflects the firm’s earnings outlook and shareholder return strategy.
Fennessy Armstrong and Co bankers relocate to 86 State Street Boston taking over the former Market National Bank premises. The move positions the firm in a central financial district location.
Money on call tight at 8 to 10 percent, closing at 8. Government and railroad bonds steady. Sugar shares spiked from 71.42 to 73.44, then retraced. Stock list opened strong led by Union Pacific and Sugar, with a late-day quiet but firm finish. Rail bonds traded around $1.31 million. Rock Island 6s up to 137, others varying slightly. Northwestern consols and Green Bay incomes also edged lower.
London quotes show Consols at 96 13 16 money and 96 15 16 account. Atlantic & Great Western firsts 85 to 86, Canadian Pacific 70 3 4, Erie 29 1 2, Reading 22 for 3 4, St Paul 71, New York Central 109 1 2, Mex Central 68 7 8. Paris 3 per cent rentes 87 25, bullion Bank of England balance £29,000 today.
At the semi annual New England cotton manufacturers gathering in the Institute of Technology building 100 persons attended and elected new officers including William C. JIllson treasurer Hop River Warp Willimantic Conn Walter Pollard Crompton R I assistant superintendent Arthur H Lowe Fitchburg treasurer Park Hill Manufacturing John A Sanford Fall River Gideon S Holmes Plymouth Charles E Getchell Palmer agent Boston Duck William T Spears Nashua N H Thomas Powell Providence Slatersville Mill E B Wilbur Uncasville Conn Edward Atkinson delivered a paper on whether the South will rival New England in cotton manufacture and the pace of U S spindle growth A second paper was offered by J F Hanson of Macon Ga missing in person and an essay on long distance electrical power transmission was read by W S Kelley of Lowell.
A concert last evening for union members featured Boston Male Quartet with B H Macurdy T H Keenan E E Gorham R C Macurdy Mrs Abbie F Hervey Alice M Sibley Minnie M Gould Marion Osgood and Master Fred Butler. The program included solos duets and selections well rendered to a large appreciative audience.
William H. Cate former Chelsea Post Office superintendent appeared before U S Commissioner Hallett charged with embezzling about 650 dollars in money order funds and an additional 109 dollars in a later case. He was held on 500 dollars bond until next Wednesday.
The report notes steady leather and butter, firm cornmeal and eggs, and quiet truck activity. Hides dull, hops dull, and malt slow, while pork and hams show good demand and lard remains firm. Various fruits show mixed demand with Almeria grapes strong and cranberries dull.
Fall River on October 30 reports pint cloth at 39 16 cents for spots and 64 by 664s. Mills show slow acceptance of offers, keeping prices firm amid cautious trading.
Curb December wheat rose to 79 1/2 cents amid firmer early tone before closing strong as shorts covered and locals manipulated gains. Corn remained very strong with near options lifted by wet weather forecasts and light receipts. Provisions were weak with October pork and lard collapsing as hog supplies rose. demand for deliveries remained uncertain.
Market is quiet for slim country stock while better grades move fairly. Light weight drivers from country are glutting auctions, selling below country value. Ainsburgh & Co sold 110 head mostly single drivers, prices from 60 to 175. matched pairs 300 to 350. Bowler's sale reports 700 for a pair and 375 for a single. Walker's bazaar moved 113 head with bulk 40 to 350. drives for gentlemen. Colman & Son and Combination stable note improvement and ruinous prices for some lots. Welch Hall reports a top work horse at 280. overall week fair with no standout items. International Horse Exchange sold about 100 head. Saturday 50 head from 75 to 225 with an uptick for good horses. Snow and Ham & Co report mixed sales. 5 carloads to Ham & Co at 115 to 165.
Dealers maintain a hand to mouth leather policy as stocks gradually shrink, keeping prices firm with only select lines scarce. Demand remains stable across hemlock, calfskin, buckskin, and other grades, with notable activity in New York and Buenos Aires quotations and steady finished upper leathers for shoe makers.
The leather market remains steady with fair trade across branches. Manufacturers continue to buy as needed, keeping volumes high, while speculative inquiry is notably absent.
The boot and shoe trade reports a satisfactory season with cautious buyers placing solid orders for spring goods. Men’s calf shoes and heavier items like brogans attract steady demand while grain shoes remain popular for women. Duplicate orders keep factories busy with no significant downtime between seasons.
The hide market shows dull activity with 15 cents outside for Buenos Ayres and Montevideo stock. New York imports 26 000 Montevideo hides, 19 000 to tanners, South American stocks large, Western buff hides weak with 5 to 6 percent cents, and green salted and dry upper hides quoted softer. Tanned skins remain firm with sales at full prices.
The market reports solid demand for India rubber with firm prices. Fine Para quoted at 783 78c for new and old and coarse at 53 66c per pound. Rival activity in New York has caused a temporary halt there.
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