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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Sep 09, 1886
Page
6
The money market eases with banks more willing to lend at 5 to 7 percent. New York funds hover near par, while government securities show quiet activity. Ledgered earnings and railroad stocks shift across major rail lines as copper, bonds, and bank notes move in the day’s trading.
The Sunbury and Lewistown Railway Company has declared a semiannual dividend of 3 percent.
Grain and provisions handled with orders executed and carried on margin. Private wires to Chicago and New York.
Philadelphia style listings show first board sales from 10 to 10 30 a m and 1 30 to 3 p m with numerous bond and mining issues. Traders report varied bids across railroads telephones Mex C and mass issues and notes from NY & NE and Old Colony among others.
New York reports show quiet mercantile paper and steady to higher bond prices. Government bands were dull, beret bonds steady, and stocks firm after a cautious opening with notable advances in Missouri and St. Paul Duluth. Daily railroad bond totals reached 141,828 shares with several issues advancing, while Mexican National railway bondholders receive a cautionary note from Matheson & Co.
A scrambled OCR fragment lists various machinery and tools with prices and vendors. References Power, Bigelow Heeling Machine, and other equipment appear amid unclear names and figures such as 460 JO MeXay and 40¢. The text resembles a historical classifieds or mining equipment catalog section with disjointed entries.
San Francisco September 8 official closing prices list mining shares such as Bulwer Eurekan Con Best & Belcher Hale & Norcross Bodie Con and Cal. Consolidated with values noted alongside each name. Several entries show fractional quotes reflecting market activity.
Consolidated prices in London markets show Consols at 100 13 16, Atlantic & Great Western firsts at 51 1/2, seconds at 160 1/2, Erie at 88 1/2, Erie seconds at 108, Illinois Central at 138 4 2, Mexican ordinary at 4 4 4, St Paul common at 74 1/4, New York Central at 113 1/2, Pennsylvania at 50, Reading at 151 1/4.
The Boston and Maine Railroad will replace the Smith vacuum brake on passenger cars with Westinghouse automatic brakes. The Eastern division already uses Westinghouse, and main line conversion has begun at an estimated cost of 65,000 dollars. Two new combination baggage and passenger cars, numbers 21 and 81, are under construction at South Lawrence shops with mahogany trim, black walnut trimmings, veneer sheathing, cane upholstery, light straw exterior, and will feature Westinghouse braking.
A New York despatch reports Missouri Pacific plans to extend 87,000,000 of first mortgage bonds due in 1888 to reduce fixed charges for both bond and stockholders. An extension agreement has been made with a Kuhn, Osb & Co. represented syndicate including Drexel, Morgan & Co., August Belmont & Co., and others.
The notice outlines terms under which bonds may be offered to current holders for extension. Details specify eligibility, timing, and conditions, indicating how present bondholders may participate in an extension proposal and the expected impact on repayment.
The Chicago Rock Island Pacific Railway completes the purchase of the Hannibal and St Joseph lines from Cameron to Kansas City, with the Hannibal and St Joseph company to dissolve credits March 1, 18387. The deal, worth about 99,006 dollars, opens a 22 miles track corridor to Cameron for Chicago Rock Island Pacific improvements amid some skepticism from rivals.
The Oregon Improvement Company reports for the year ended 1884 show departments including Pacific Coast Co, Pacific Coast Ry Co, and Puget Sound, with earnings, expenses, and balances totaling 3,657,153.8,475,106.982,047. Net decrease across accounts reflects land sale profit of 142,456.26 and declines from wheat crop failure, weak Pacific coast demand, through traffic, steamship pool realignments, and cheap foreign coal competition.
The West Shore Railroad announces a September rate reduction to principal Catskill points. Maine Central starts building a new bridge at Orono. The Havana division of the abash was foreclosed selling to Anthony J. Phas as trustee. A new operating company will be formed. Earnings: St. Paul & Duluth August 1886 50,102. 1885 38,192. increase 12,200. Erie Railroad net for ten months 5,200,027, up 48 percent. Lake Shore August earnings up 120,000 vs last year. Northern Pacific three days revenue up 44,000 and Manitoba August up 102,297. Reading president Gowen facing potential opposition by John Lawler Welsh. Foreclosure decree expected in Robinson case by Oct end. Portland & Ogdensburg stockholders approve transfer to new company.
A string of local business failures and assignments are reported. Samuel R. Payson’s creditors may wind up affairs as the assignee takes control. S. Grant Smith of Boston assigns to Jd. B. Russell Pettee. C. Paquette of Holyoke fails. Moline Stove Co. assigns to Josiah Grant with liabilities around 15,500 and assets near 11,000. Charles J. Wood of Quincy assigns to H. W. Mead. Arthur H. Pierce of Dorchester to settle in insolvency with 3,235.56 liabilities, secured by liens and mortgages. Walter H. Balch’s creditors offered five cents on the dollar with about 80,060 liabilities and assets around 1,500. R. A. Atwool & Co. fail with about 6,000 debts and 6,000 to 8,000 assets. J. J. Hogan’s Charlestown firm shows about 5,700 liabilities and 2,100 assets.
A condensed directory lists numerous boot and shoe buyers and associated firms across the United States and abroad. Entries name individuals and companies in Alma Michigan Buffalo New York Chicago Illinois Cincinnati Ohio Columbus Mississippi Tennessee Louisville Havana and other locales, noting sales and trade connections.
The flour market remains similar to previous quotes with no notable changes in corn oats malt rye and millfeeds. Butter cheese and eggs hold steady while beans seeds and potatoes show varied demand and prices. Apples hay and poultry are quiet with plentiful supplies and fair trade. tallow remains steady.
For the week ending Sept 8, 18386, a detailed Boston Pot lists cattle sheep and hog prices from several states. Arrivals at yards, car counts on major roads, and prices for store cattle, veal calves, lambs, hides, and tallow follow, with extensive dealer bids and sales by Henry, W Scollans, J H Fogg, and others. Export shipments to Liverpool Glasgow and London noted, along with a steady but responsive market for sheep and lambs and a moderate fall horse market environment.
Market notes show Clark selling 18 Ohio horses and drivers at 200 percent 860, with draft weights 1400 to 1600 lbs. JR Simmons to bring 18 head this week. Maine cattle shipments totaled 21 car loads. Beef cattle and veal calves dominate trade, with prices for steers and cows fluctuating. Watertown and Brighton yards report steady demand and varied weights, with imports from West and Maine stock showing strong showings and notable sales at several yards.
Flour and grain prices show little change from prior report with Western supervise flour at 2 75 to 3 10 per barrel and Minnesota bakers at 3 90 to 4 60. Roller flour in New York 4 25 to 4 60, Michigan 4 35 to 4 60, Ohio 4 40 to 4 65, cold rolled to 4 75. Produce and butter mixed, eggs steady, potatoes easy, beef and pork steady, lard firmer, tin and lead quoted, copper and pig iron markets steady.
Coal prices rise at wholesale and retail with coal grades and regional notes. Cotton demand improves with firm spot prices across ordinary to good middling ranges. Drug and chemical markets show alcohol and balsam copaiba firm with tolu and other items trading at current levels.
Crude brim stone advanced to 21 25621 Bt for best seconds on spot. Bleach powders higher and held at $1. Caustic soda firm at 2 6un2 55. Sodas quiet. Opium firmer at 2 830a2 90 and morphine in fair demand at 21. Sulphate quinizte quiet. American steady. Fish and shellfish prices mixed with bays and herring steady. Raisins, currants, dates, nuts showing varied demand. Freight and international rates inch up with limited foreign charter activity. Overall market quiet with buyer-favored prices and some firming in select chemicals and staples.
The season's rice crop is reported as very favorable with potential output around 800000 sacks of rough rice if harvest proceeds without accidents. Port receipts show 889212 sacks of rough and 57923 barrels of clean for last season, while this year to date shows 11287 sacks rough and 3127 barrels clean. Old dealers note an unusually large crop, with Patna and Java rice filling gaps during the three month harvest-cleaning window. Domestic supply remains strong with little foreign import.
Telegraph market page reports dull flour and steady rye and coffee with mixed grain results. Receipts and exports are detailed for Minnesota, Western elevators, and various wheat, corn, and barley grades, with price ranges for futures and spot goods and notes on butter and molasses stability.
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