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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Sep 14, 1889
Page
6
The Boston money market shows no new developments with ample Clearing House supply surpassing demand. General rates barely move with time loans 4 to 6 percent and call loans 3 to 4 percent, while New York funds and exchange figures reflect modest shifts and a firm foreign exchange market.
The fish market shows scarce catches and steady demand with prices firm for lobster, salmon, mackerel, and oysters. Canned goods face mixed signals from Nova Scotia brands to domestic packs, while fish receipts in Gloucester and Boston illustrate tight supplies and weather-driven delays.
Quicksilver Mining Company declares a 10 percent dividend on prepared stock payable October 1 to holders of record September 15. Napa Mining Company declares dividend No. 33 of 10 cents per share payable October 1 to holders of record September 14.
New York markets opened steady with easy money and firm bills. Stocks drifted dull after noon, with minor gains for Louisville & Nashville and Phoenix Mining, while Northern Pacific slipped then steadied. overall close near opening levels and firm for the day amid light activity.
London market notes show U S 4s at 130 ex-interest, Atlantic and Great Western firsts 36 1/2, Canadian Pacific 71 1/2, Erie seconds 107 3/4, Mexican ordinary 62 1/2, St. Paul common 76 1/2, New York Central 111 7/8, Pennsylvania 55 1/2, Reading 24. Money at 2 1/2 to 3 percent. Open market discount on bills 3 5/6 to 3 7/8 percent.
Joseph D. Weeks, secretary of the Iron Association, reports a healthy rise in iron and steel prices since early year. Prices for pig iron largely steady, ore mill and No 1 foundry up 25 cents, Bessemer up 1 to 1 25, neutral mill 1 25, and foundry 1 25. Bar down 25 cents from year start but up 150 from February through June. old rails up 60 cents, steel rails up 1, blooms 50 cents below January yet 1 above June levels.
London and Liverpool market notes show wheat and corn quiet with modest demand for certain types. Prices in Liverpool futures firm for California wheat and mixed American corn, while Paris and Antwerp view wheat and flour costs as unmoved or slightly higher.
The Elegant Steamers of the Norwich Line boast speed comfort and safety with a dining room in the upper cabin and a la carte meals. A special steamboat train departs Boston via the New York and New England Railroad at 7 p.m., featuring reclining chairs at no extra charge and noted for punctuality.
Fall River report shows the print cloth market steady at 3 percent for 64x64s. Week’s business remains very light with quiet, unchanged trading and limited activity overall.
The option markets in Chicago report wheat under pressure with Dec at 78¾ cents and nearby declines. Receipts lag estimates. foreign markets weak. local traders briefly bought before selling. Rain near North expected to slow deliveries but not stop selling. short interest persists. Provisions firmer on poorer hog quality. January pork and lard demand steady.
Storms drive fishermen to port and halt supplies as Gloucester and other markets report scarce mackerel. North and Nova Scotia catches push prices up, with No 1 shore selling about 28 dollars per barrel and large macks around 35. Cod prices firm, dry bank codfish and pickled bank values rise, while old herring stock depletes and prices firm for remaining barrels.
Domestic flour quotations cover wholesale and jobbing ranges with today’s receipts totaling 7376 barrels and 9415 sacks. Grain inspections list mixed corn, steamer yellow and other oats totaling 53 cars. No. 2 corn and white oats dominate, while New York and Chicago markets show mixed activity and price shifts for flour and wheat products.
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