The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1882-05-27
DOWN TOWN.
Financial = Boots and Shoes = Lumber
Miscellaneous.

The Boston money market. yesterday was
very easy, and the rates of interest were decid-
eddy in favor of borrowers. This indicates
that there is o large surplus on hand, with
light demand, which is attributed to the de-
preston of business occasioned by the unset
tied weather. Rates for regular mercantile
paper were Al to 81 per cent, and call loans at
81 to per cent per annum; a is the best out
side rate. The stock market was generally
weak and lower. Fifty shares of Maine Cen
trail sold at So. Governments were firm, with
an advance of on As. Foreign exchange
steady.
The brokers in this city will close their offices
at / o'clock on Monday, and suspend business
until 8 O'Clock Wednesday morning.
The accounts from the interior are that heavy
rains prevailed on the upper waters of the
Androscoggin, the Kennebec and the Penoh-
scot early this week, and this insures the pros
pect of good supply of logs, but the lumber
dealers do not warrant the hope that prices
will be any lower for some time to come. The
great demand in the Northwest, and the firm
tone in Canada and Michigan, with the pres
emit amount of stock in hand at the seaports,
| do not encourage the belief in decline. The
general tone of the local market is good.
| Though the city demand is light, the inquiries
from the interio: towns ltmains about as was
reported by us two weeks ago. The market
for South American lumber continues quite
active and prices are well sustained Shipping
pine for South America is quoted at $26; for
West Indian trade, SIT to SIS: and clear is
held at $40 to $45. A few small vessels are
taking lumber for foreign ports, and several
are now due at this port which will probably
load for South America. Spruce shipping I'M
changed. Coastwise shipments are dull, but
rates remain the same. Oak timber and ship
stock remain as reported two weeks ago, with
demand fairly maintained Southern pine is
very firm at previous quotations. Freights
still rule high, and prices are stiff at the mills
which have orders enough on hand to keep
them active for several months. The market
for hard wood lumber holds good, with no
signs of weakening in prices. The present
prices, however, are moderate. Small lumber
is generally in fair supply, except first quality
cedar shingles and spruce laths, which contin-
ne very scarce. Best cedar shingles are quot
ed at $3.50 to 81 per thousand; clear, So to
$3.50; extra No. 1, So to $2.75. Best spruce
laths bring $685. and ordinary $1.75. Best
quality clapboards cost the consumer $50; sec
ond quality $2s, and third do. $23. The back
ward season has reduced the demand for doors,
windows and blinds. The most activity is in
orders from the interior towns. Prices have
undergone no change for several weeks.
Considering the unfayorable weather and
the effect it has had on all lines of business,
the boot ami shoe jobbing trade has continued
fair. The retail dealers Of Maine and New
Hampshire complain of dullness, owing to the
backward season. Their summer stocks have
not begun to move off yet and the wholesale
dealers are more anxious about June trade
than they are about the present. A short pc
riod Of warmth would increase the demand
from the retailers; continued cold and rain
would confine June trade principally to sort
ing up. The manufacturers for the local re- |
tail trace are sackening up little, but those |
who supply the Western markets are pretty |
ed, and orders are beginning to come forward. |
Many of the shops have changed over from |
spring to autumn work, and others are about |
to do SO. There is no material change in t e |
price of sole leather, but upper stock is decid-
eddy firm and shows tendency to advance.
The New York Bulletin, in presenting the |
advantages of New York city as great manu- |
featuring center, uses the following language, |
which will apply with considerable truth to
our own city: Naturally commerce and man
ufactures are intimately allied, and one is the |
support of the other. We have here and all |
around us peculiar advantages for the devel- |
opment of BOTH IF coal, iron and other raw |
material are not 80 near as they are to some |
other localities OR facilities for land and wa
ter carriage bring the sources Of supply. as it
were, to our doors at small cost and incensid-
cradle expenditure of time"
There is no corn here to ship" says the |
Chicago Tribune of Wednesday, land only |
small amounts are coming in by rail. The |
carrying trade by lake, in fact, is done for
until the new crop is harvested. And matters |
are made still worse by the strikes in the iron |
and lumber trades: whereas, if there was no |
trouble in those trades many of the grain car
riers could be transferred to those fields. 1t is
quite probable that what little grain is to be
shipped from here, until the new crop is ready |
to be moved, will be carried in steamers, as
most of them are under heavy expenses and /
must be kept moving, even if at lower rates
than now quoted as paid by shippers