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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Sep 07, 1889
Page
6
Boston money market shows little change with dull, easy tones. Clearing House loans range 4 to 6 percent, most at 5.4 percent. Exchange totals and balances cited. Atchison affair prompts brief price firming. resignations and leadership changes noted. bonds and stock movements summarized.
Gloucester market reports strong demand and tight supplies across fish trades. Cod prices steady to firm with light Grand Banks fares. mackerel stock scarce as Iceland halibut fleets arrive. pickled herring and canned seafood show firm demand, with prices varying by grade and origin. Domestic receipts total weekly and year to date volumes listed.
Southwestern Pennsylvania Railroad Company declares a semi annual dividend of 5 percent. Connecticut River Railroad Company pays a quarterly dividend of 2 percent.
New York money on call eased to 3 4 percent with last loan at 3 and bar silver around 92 4. Sterling exchange firm at 4.8414 for sixty day bills and 4.88 for demand. Government and railroad bonds dull and steady as market quieted after delivery hour. Stock Exchange opened active and strong but irregular. Wheeling & Lake Erie fell, Northern Pacific preferred and Atchison dragged list. Richmond & West Point rose strongly early. coal stocks led a late rally, closing firm to strong with gains over the day’s lows. Erie firsts rose to 120 and Northern Pacific thirds to 108 1/2.
Today's transactions total 326 728 shares with a list of shares sold and corresponding opening, highest, lowest and closing prices for the day and the previous close yesterday.
London market notes show Canadian Pacific Erie Illinois Central and Mexican stocks with fractional percentages and banking rates. Paris rents quoted at 3 per cent. Atlantic and Great Western and other issues move in late afternoon trading. Bank of England bullion on balance today totals 22000 pounds.
Despatch from St Paul reports St Paul & Duluth and Eastern Minnesota lowering through passenger tariffs to eastern points via the Soo line. Rates from St Paul to Boston drop to 2870 first class and 2440 second class via the Soo, with similar terms from Duluth and West Superior. Chicago lines may oppose the shift as Boston routes reconfigure. News also notes a Worcester Hartford rail scheme aiming to make Boston the eastern terminus, with towns along the route rallying for rights of way and funding. Chicago & Eastern Illinois earnings for August, St Louis & San Francisco orders, and Hocking Valley hits Pittsburg with coal and ore transport plans.
Dr Pierce’s medicines outsell competitors due to superior curative properties. Manufacturers supply through all druggists with a money back guarantee: benefit or cure, or full refund. The Golden Medical Discovery is touted as a cure for catarrh and bronchial, throat, and lung diseases when used early with a fair trial.
An old advertisement claims Dr Pierce’s Pellets provide a gentle laxative or active cathartic by dose and Horsford’s Acid Phosphate aids a tired brain after overexertion. It invites readers to try the products at a price of 26 cents.
Fall River report notes a quiet print cloth market at 64x64s with prices down about three quarters of a cent and weekly business only moderately active. Production will trim by roughly 30,000 pieces due to the Labor Day shutdown and manufacturers hesitating to sell at current quotations.
The option markets report a sharp wheat break with prices near inside levels and large receipts. Forecasts point to sizable movement next week, with export clearances small and long interests selling. Corn held steady briefly before weather shifts and improved crop progress, while hogs and pork show unsettled trading as prices fluctuate across contracts.
The September start brings hopeful but uneven mackerel catches across the fleet. Week totals show 1728 bbls landed from Block Island, Eastern shore, North Bay, and other areas, with prices from 16 to 27 dollars per barrel. Demand remains active while supply struggles to meet the growing call, and codfish and herring trade notes indicate firm markets and expectations of higher prices ahead.
Domestic flour quotations and crop inspections are listed alongside New York Chicago and St Louis receipts and exports. The report notes quiet markets with steady to dull tones for flour corn and wheat, detailing various grades and prices, and recording 77 cars of mixed grain and 5881 barrels of flour received.
New York receipts total 64 000 bushels with export and business sales showing 146 000 bushels, market fairly active for export and easing. State and Chicago quotes vary by grade, rye and graham flours steady to firm, cornmeal and vatmeal receipts and prices listed, meal prices set, millfeed dull with limited inquiry. Cottonseed meal market quiet with ongoing offers.
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