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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Apr 05, 1890
Page
3
The drift of iron and steel prices continues downward as transactions remain light. Traders note a hand to mouth market with more sellers than buyers and only cautious concessions to move stock, signaling a potential bottom yet to be confirmed.
In Philadelphia April 4 a softer money market and large interest disbursements reduce selling pressure on iron. Some small mills faced forced sales last quarter, while demand rises chiefly in the West. Northern furnaces run at capacity, with prices advancing, and output shifts aim to curb shipments from the South into Eastern markets.
A special telegram reports Southern iron prices tumbling to new lows with heavy consumption and halted foreign imports. Buyers test the market while production risks and new furnace plans dim, yet some foresee an early price rebound as large orders resume and bottoming confidence grows. Prices cited include Southern No 2 at 15, No 3 foundry at 14, and crays at 14 at Cincinnati amid sparse charcoal iron movement.
Special Telegram reports from St Louis April 4 that Rogers Brown & Co says business the week was more active with fair sales at close figures. Some inquiries for round lots met by low prices on certain grades but little stock accumulation in the South and no urge to sell ahead. Southern furnaces note the week’s limited operations. Chicago often seen as damping ground for iron districts.
Rumors of a large artificial ice plant in Allegheny City gain traction after Samuel W. Black & Co. sold a site on South Avenue and Sturgeon Street for 2000 dollars. Eastern promoters intend rapid construction with a final cost near 100000 dollars, aiming to ease a planned famine and boost local industry amid a bullish market for Pittsburg securities and real estate.
April 4 report says Mr. P Harris proprietor of the Academy of Music and several theaters has joined Mr Rich L Britton and Mr Tunis F Dean to form the Har ris Britton and Dean firm to manage theatrical enterprises in Baltimore Washington Pittsburgh Cincinnati Louisville Minneapolis and St Paul.
Report from Boston says organizers are forming a syndicate to build 20 iron steamships for coastwise and foreign trade once the Farquhar tonnage bill passes Congress. The move targets rapid expansion of naval and merchant sailing capacity.
Wilkinsburg agent W E Hamnett partners with M W Meredith of Tarentum to form Hamnett Meredith at 102 Fourth Avenue. The firm promotes East End real estate services and invites clients to consult.
Despite open commission houses in New York, Good Friday brings slow produce trade with eggs abundant and prices largely steady. Trade notes show liberal egg supplies on river boats at 13 to 15 cents a dozen, potatoes in better supply, and varied but stable dairy and fruit prices across commodities like cheese, strawberries, and tropical fruits.
Sugars fall on the market while jobbers remain pressured by ongoing losses after a prior year of gains. Coffee shows little movement as dredged and evaporated fruits stay tight and prices trend higher for many beans and canned goods.
Market items show slight price gains and a busier floral trade for Easter. Fruit and vegetable stalls report better quality offerings with lower creamery butter and eggs, while staple meat prices range from tenderloin at 20 to 25 cents and various roasts and chops priced per pound. Flower shops see strong demand, including an order from Kentucky for Easter decorations, as churches prepare for the Resurrection anniversary.
Real estate firms report numerous transactions including a Mrs Emma Abel sale of a frame eight room house on Niagara Street for 4000 dollars. Other parcels sold include lots in West End and East End for 300 to 4800 dollars, with mortgages arranged and building lots in Chartiers and Freehold Bank plans. Marketed by Movements in Realty Black & Baird and Kelly & Rogers along with Orr Alles Magaw Ewing at various offices.
Receipts and markets vary with regions. Pittsburgh reports mixed shipments in cattle hogs and sheep with little sale activity. New York and Chicago show firmer or steady trends in cattle hogs sheep and lambs. St Louis notes strong cattle and rising hog prices amid varying demand. Buffalo reports through shipments and steady sheep and lambs with active hog trade.
The article recounts the 1826 abduction of William Morgan from Batavia New York by alleged Freemasons to stop his plan to publish secrets of Freemasonry. He was moved toward the Canadian frontier and lodged in an unused fort. his fate remains unknown with a body found near Fort Niagara that could not be identified. The New York Legislature ordered investigation but no conviction followed.
Riter & Conley secured an order from Peru following the Pan-American visit to Pittsburg. Two 20 000 barrel tanks 77 feet diameter, two 10 000 barrel tanks, and two 5 000 barrel tanks were shipped to Peru via New York City. The 250 to 300 ton shipment signals Peru's growing oil interests and 70 000 barrels storage capacity.
An investigation finds most German chicory is beet root mixed with genuine chicory. The typical ratio is one third real chicory to two thirds beet root, with the beet root dried and roasted.
Boston reports strong weekly wool demand with sales totaling 2,270,500 across all kinds including 177,500 in domestic. Ohio and Pennsylvania fibers quoted at various mid 30s to 40s prices. Michigan and California wools steady with notable ranges for combing and delaine. Territory and Texas offerings show varied scoured basins with steady to firm pricing.
New York on April 4 reported a quiet trading day in drygoods with a holiday mood and stormy weather. The market kept a steady tone as activity remained unchanged.
An old ad claims Carter's Little Liver Pills relieve sick headache. The brief copy repeats the product name and suggests relief from headache symptoms with a simple remedy.
Readers are shown multiple patient statements supporting Drs. Copeland and Blair for treating catarrh and allied troubles at their Sixth Avenue offices. Louis Christman of Steubenville Ohio describes dramatic relief after fall injuries and illness. others from Hershey, Hickory, and Hulton praise improved health under the doctors’ care.
The Department of Public Works is authorized to purchase from Florence C. Miller a 244 by 120 foot lot on Emerson Street, Twentieth Ward, Pittsburg for 2775 dollars. The city controller to issue a warrant upon deed delivery. ordinance ratified March 10 1800 and recorded March 23 1800.
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