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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Aug 15, 1890
Page
7
The Iron Age reports a quiet American pig iron market with price shifts tied to circumstances. Northern No 1 iron around 1700 per ton, Southern foundry No 1 and No 2 scarce, No 2 soft available 17.75 18.00. Rumors of Eastern mills cutting prices for Western delivery persist, with limited trading in foreign billets and melting scrap.
The Iron Age dispatch reports a surge in Scotch warrant prices rising to 47s 6d and then to 8lid amid rumors of an American syndicate buying warrants to control supply. Strong buying by locals and outside investors buoyed sentiment as United States and Continental demand supported tin plate markets and western iron trades.
The August report shows coke business steady with slight irregularities. Demand from the East and West remains firm while Pittsboro shows weaker activity. Production barely exceeds demand as Bessemer Company cuts orders and several plants plan six-day work weeks. 2062 ovens active out of 15,174 region total.
Review of two weeks transactions shows light cattle runs and higher market prices at East Liberty. Dunkeld, the weighmaster, was absent due to illness, delaying the weekly synopsis. Cattle sales totaled 5,082 head versus 7,635 last week while sheep sales reached 6,155 head, slightly up from 5,581. Local trade calls for about 1,900 cattle weekly. this week's sales will mirror that figure.
Market notes across St. Louis and Buffalo report varied receipts and prices. Cattle receipts near 12 000 at St Louis with higher prices for native and feeder stock, while hogs show weakness. Buffalo observes quiet cattle and slower hogs with lighter demand and steady to lower calf values.
D W Prindle Exq president of the Fruit Association of Pulaski county visited and praised Egypt Illinois grape crops. He noted grapes as the main dependance this season with extensive shipments east and north from Villa Ridge location. The Egypt section, famed for fruit, also has pears peaches and strawberries affected by a poor season for some crops.
A city portrait highlights Pittsburg as dominant in iron and steel output one fifth of the nation's. It also produces half the United States pressed glass and a quarter of window glass with 5,000,000 tons of coke and 10,000,000 tons of coal marketed annually. The metro hosts nearly 4,000 industrial establishments with $150,000,000 capital and 150,000 workers while speculation shows a cautious but improving market outlook.
Stock activity hinted at rising confidence with moderate trading and a strong underlying tone. Luster rose to 2444, closing 2447 amid speculation on mine reports while Electric and Rights posted gains and Chartier Gas revived at 40. The Standard Underground Cable trusteeship dissolved as certificates to be issued, with Treasurer Elmer J White noting the favorable company position and reduced trustee duties.
Active for the season bank exchanges remain well above the two million dollar mark with an aggregate of 2,803,105.91 and balances 236,915.72. Demand for discounts was fair and rates held steady at 6.7 percent. The silver law is in operation and larger capital will be needed for the fall movement. Money on call at New York yesterday was not detailed.
Oil markets rose with bullish sentiment as consumption outpaced production and refined gains boosted prices. July exports reached 65.74 million gallons valued at 4.82 million dollars, while seven months to July show 2008 figures. analysts cite Hus agian competition for the drop.
The money question dominates trading with cautious moves in Rock Island and Sugar Refineries driving gains. Denver and Rio Grande and others show early strength while money rates ease late, bears cover, and the day closes higher across the board.
Prices for mining shares listed include Alice at 240, Caledonia B H at 180, Adame Consol California and Vir i at HO, Hale and Fore Homestake at 100, Horn Silver 340, N. Elsle 105, Ontario 4100, Phoniz Arizona 110, Sutter Creek 105.
Weather turns cooler aiding late wheat in Ellendale with kernels filling slower. Fields show heads not fully developed at harvest time, reducing yields from 12–15 to 7–10 bushels per acre and lowering grain quality. Experts forecast a statewide drop of about 7 million bushels, with similar declines across South Dakota.
In New York on August 14 demand for drygoods at first hands showed further improvement due to active movement by jobbers. Prints of all descriptions were more active with agents and jobbers, and staple cottons posted an improving tendency across the board.
River intelligence notes the Ohio River continuing to fall with business flat. Notices warn river pilots that Lock No 1 gate will close tomorrow for repairs so boats must use the small gate. Up river commerce remains steady with fair sized loads aboard arriving and departing craft listed.
The Elizabeth carried a large excursion party from Monongahela City to Morgantown yesterday. Captain J A Henderson plans a Mt Clemens visit to shake off rheumatism, and Captain DewEes Marchand visited briefly. The river bill faces Senate debate with no opposition expected. A new river pilot organization proposed in Cincinnati aims to control lumber towing. each boat costs about 6000 dollars, with total around 800000. The Patriotic Sons of America marched in formation on the barge levee as the Mayflower prepared to depart for Windsor Park.
Reports of deadly floods on the Ganges and a fatal explosion in Germany headline a tumultuous brief. Riot deaths occur at Shelby Iron Works in Birmingham while Welsh railway workers plan weekly support contributions. Indictments in Hazard Kentucky and a dangerous acid incident in Providence BR are noted, with fires in Louisville and regional harvest outlooks. The South Carolina Democratic Convention splits over primaries and anti Tilimanites form a new body. British Sea labor and colonial labor concerns surface alongside anti prohibition legal arguments. A London murder tied to Presbyterian missionaries is briefly mentioned.
A pleasing sense of health and strength renewed and ease and comfort follow the use of Syrup of Figs as it cleanses the system in harmony with nature. For sale in 600 and $1 bottles by all leading druggists.
An ancestral rhyme traces Castoria as a remedy for a baby child and later descendants. It notes repeated use as the family’s soothing medicine across stages of life and into parenthood.
Market notes show eggs higher in Chicago and firmer locally. Creamery butter strong with Elgin quotes at 25c but no sales above 24c in job lots. Ohio cheese firm. Swiss rising. Tomatoes firmer. potatoes steady. sweet potatoes quiet. Grapes ample but quality below standard. Cider, peppers, and various produce priced with broad ranges across categories.
The article notes strong movement in grocery lines as prices trend upward. Retailers stock heavily to hedge higher costs, with sugars and rice rising steadily and coffee fluctuating little. Canned fruits, evaporated fruit, and various staples show persistent price rises as supply tightens.
A grain exchange bulletin notes a saloon call of a car of No 1 hay valued at 1050 for six days. Receipts include 57 cars with 17 by the Pitsburgh Fort Wayne and Chicago Railway. Wheat and flour firm, corn oats hay weaker, millfeed steady, late cereal boom waning amid cautious buyers.
Corn and oats prices range 14 to 17 cents per bushel over 30 days. Wheat and corn futures suggest bias toward bears as market bottom tests support levels. Carload price quotes include No 2 red wheat 10021 Ol, No 2 yellow corn around 644700c, No 2 white oats 46-49c, and assorted flour, middlings, hay, meats, and canned goods with wide regional variations.
Chicago wheat moved lower on active but unsettled trading with fleeting rallies and new pressures from speculative selling. Corn dropped early then steadied with local buying support. oats were volatile within a small range. Mail, lard, and pork futures fluctuated, with prices easing but later finding steadier footing as cash markets showed mixed demand.
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