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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Aug 06, 1890
Page
7
Heat drives milk supplies down on Panhandle and Ft. Wayne routes as receipts fall and prices threaten to rise. Dairymen report reduced canning capacity and refused orders, while butchers say July profits are wiped out by ice costs and spoilage. Bananas and tropical fruit flood markets as heat accelerates ripening.
The condition shows cattle receipts of 20 head and shipments totaling 400, with market activity dull compared with yesterday. No cattle shipped to New York today, and demand appears weak at yesterday's price levels.
Telegraph style cattle and sheep market report shows receipts at 17 000 head with steers around 3 dollars for stockers and feeders, cows and mixed grades mixed, Texans and Western cattle noted. Sheep receipts near 7 000 head with natives and Westerns around 3.65 to 4.60 per hundred, lambs 4 5 expected. dressed beef steady. St. Louis cattle receipts 5 200 head with fair to choice quality and packer demand, hogs around 4.00 to 5.00, and eastern exchange steady for par buying and premium selling.
St Louis reports J Milton Turner a SD attorney will go to New York to finalize a colonization scheme for black settlers in Mexico. A coffee firm with about 5 million capital promotes moving 21 million acres to colonists with no land rent and support until cultivation. Details set August 14 with multiple applications nationwide.
Wheat opened slightly lower in Chicago and rebounded to exceed prior day highs, then settled about a penny and a half above yesterday. Corn followed the upturn with buying from shorts covering, while pork, lard, and rib sides showed active, firmer trade amid mixed outside orders and Northwest crop concerns. Prices across Wheat No.2 August and September, corn, oats, and soy products reflected a buoyant market with varied regional strength and demand.
A brief market update reports strong local buying for dry goods from the West with a focus on cotton products. Sellers note all cotton goods are in good shape and ready for sale to buyers in the area.
The city sees a record building season with 5 000 new houses expected in the city and 2 000 in the surrounding districts, boosting population and commerce. Investors note anxious speculation wanes as legitimate business thrives, and several large tracts and lots change hands as developers scout sites for next year.
Reports from bank officers indicate ample money for business with ease in demand and a 6 percent main rate. July 1680 clearings for San Francisco rose to 79 010 575 from 71 206 951, a gain of 7 711 025. London bullion moved £152 000 as Bank of England balance.
Oil trading showed a narrow 3 cent range with a higher close near the day’s best. New York prices rose to Me while participants remained cautious about buying or selling, and Western oil certificates spurred new exchange formations in Lima and Findlay with others in planning across Ohio and adjacent states.
Closing quotations of Philadelphia stocks furnished by Whitney and Stephenson brokers at No 57 Fourth Avenue Loawes New York Stock Ex Boston Stocks. Includes mentions of San Diego Land Co Centennial Mining Calumet and Hecla.
Petroleum opened steady at 81 1/2 cents for spot and 90 1/2 cents for a September option in New York. Minor buying moved prices up one cent with part of the gain offset by a 2 cent retreat. overall activity showed 23 000 barrels traded and 116 444 barrels chartered in reported shipments.
The list details mining stock quotes on August 6 with names such as Homestake 1000 and Adams Consolidated Isle 110. Other figures include Caledonia B H 190 and North Belle Isle 100. The ledger shows varied values across mines including Mexican 80 and Potosi 600.
Market notes show pig iron prices reported at 1600 to 1800 with strong domestic demand. Another entry cites 2086 for Tindull Steady Straits with overall steady levels in August and signs of easing import pressure.
Prices of bar silver in New York on August 6 show Land Si4d and a quoted price of $1 1234 per ounce.
Trading was subdued with Electric rights most active. Prices ranged from a low of cents to a high of 60, Pleasant Valley and utilities like Electric Chartiers and Philadelphia Gas led sales though changes were minimal. Fraction rights traded at 60 and 15 with small interest in other issues.
New York trading shows little movement beyond Atchison, Missouri Pacific, and Sugar Refin eries. Traders await Washington’s silver bullion policy and the market ends quiet but firmer, with bears pressing Missouri Pacific and mixed signals across rails and bonds.
Reports note Alabama crop levels at 98 percent for cotton and 89 percent for corn while Iowa endures a damaging hail storm with many livestock losses. Arab Zanzibar approves slavery decree amid dissent, and South Carolina Farmers Alliance backs Tillman for governor.
Next Sunday afternoon at 3 o'clock the corner stone of the new 8S Peter and Paul Church in East Liberty will be laid by the Very Rev. S Wall Vicar General who will also preach. Father Mauritius of St Augustine Church will deliver a German sermon. At the same hour the corner stone of the new St Peter's school house at Tarentum will be laid by Rev Father Otten.
Eight miles east of Aberdeen Mississippi last night a party of colored people returning from church was fired on from ambush. A woman named Susan Henry was killed and her husband Ben Henry seriously wounded. The motive and whether the target was hit remain unknown.
Domestic markets push oats higher with abundant receipts while corn and feed stay firm. Prices at Elgin rise about 10 cents per pound for butter. eggs decline as western stocks arrive. Fruit and produce mix signals with bananas cheap, lemons active, and berries scarce. coffee and teas edge up while sugar holds.
No sales on call at the Grain Exchange. Receipts of 48 cars with 28 to the Pittsburg Fort Wayne and Chicago Railway and various deliveries by other lines. Wheat and flour firm, market generally in buyer's favor. oats receipts soften prices. Carload quotes include No 2 red wheat around 91, corn 61 62c, No 2 white corn around 60 61c, oats 55 68c, and related prices vary with grades.
River operators doubt the report as H R K O'Neill denies any sale. The firm reportedly faced losses in the Southern market but claims coal supplies and prices remain fair to navigate the fall. Other operators say the trade is unprofitable now, with some selling under established rates to move large coal floats.
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