The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1884-06-12
FINANCIAL AND COMMERCIAL
The Financial situation.


feeble rally in prices of stocks is being followed
by lower ranges, with every prospect ola still lower
scale. Indeed we can see nothing in the immediate
future to help out better feeling The stronger and
high priced stocks are now being depressed and
many which for years have been dividend payers
are trembling as if to decide whether to pay six and
seven per cent or ninety to a receiver.
General trade is fairly dull, with but little profit
and much hard work. 1t seems rather doleful to
say these things week after week, but the facts
must be stated just they are. We are not called
upon to prescribe remedies much as to point out
the symptoms.
1t very fashionable for merchants to speak with
honor of Wall street, and of who buy to sell
stocks and bonds for profit 1t has occurred to the
writer that possibly the difference between the two
branches of traders is not great after ALL As it
related of the country doctor and the sexton at
funeral, when with locked arms the latter said
trade's pretty good just now so where is the diff
ference between man whs buys fifty shares of
good stock and keeps it for turn. or the -four
dealer who buys fifty barrels of -four, and then
hires corresponding amount of money of his bank,
that he may get dollar barrel profit. 1t does
not help the argument to say that -four can be
eaten; for the purchaser does not devour SO much
nou He simply takes the risk of trade and of the
market.
We notice that the United States Court has al
lower the receiver of the Portland Il Ogdensburg
Railroad to issue 100000 more certificates. AS
July approaches much concern is manifested
whether the coupons upon the first mortgage bonds
will be paid. 1t is evident however, that the earn
ing power of the road will be increased by the new
rails and generally improved condition of the sys-
TEN.
We find but little to comment upon this week;
49, ,1rvra odara
and political predictions all of which are about as
windy and fully as accurate much which is writ
ten under the head of financial.
Review of Portland Wholesale Market
FOR THE WEEK ENDING June IL
There has been no material increase in the volume
of trade. Some branches report little more &C.
tivity, while others indicate falling off. The in
dustrial situation is not very encouraging owing
the curtailment of production in almost every i'm
portant article, but the crops progressing well
and bountiful harvest is promised. There is not
much activity manifested in Flour, but prices are
steady on desirable brands. Grain has been moder-
atsly active with slight decline lots of;Corn
and Oats, and bag lots of Sacked Bran Pork has de
clined 50c y Dbl and Lard has been selling at pre-.
vious rates. Molasses is quiet and quotations are
revised. In Coffee we notice an easier market on
unchanged. Cheese has dropped to about 1o@l3a
cents accounts of more liberal receipts. Exports
from New York and Montreal are increasing. but
the Liverpool market is declining, and the prevail
ing opinion is that in order to keep up free export
movement still lower prices must rule here. Pota-
toes have been frnsr owing to light receipts. But
ter is frmer not but euotably higher Lemons have
been in good demand to 8 5n@5 O0-an advance of
about 81 over last weeks quotations. Strawberries
scarce and higher at 16@18c. Fresh Beef is higher
we quote sides 10@11c y ID, hind quarters 121s@
lac, fores at 7@8c, rounds with tanks at 11@111s;
rounds at 12@121ac. rumps and loins 141s 917c,
rumps 14@16c loins I5@1Sc, ratt1es at 6@6ac,
backs 8Hs@91sc, chucks 1896, short rib cuts 12@
lac. The Leather market is easy and we reduce
prices lie all grades. Nails have declined to So
@2 rs. Some changes have been made in Drugs,
& Co. New Mackerel are higher. Bank fish are
dull and the supply is quite large; shipments to the
West Indies have been active. Sugar continues low
with an improved demand.