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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Aug 16, 1890
Page
3
Iron trade reports show increased steel rail production at the Edgar Thomson Works, with output near 1,500 tons daily for Braddock works and demand remaining strong into year end. Structural iron moving, nails in demand, wire rods firmer, and steel prices generally unchanged amid light seasonal transactions.
Special telegram reports hot nettle activity in pig iron with a steady market rather than weak. Furnaces are out of blast, reducing output. August furnace count 324 with weekly capacity 10,798 tons. July 380 with 13,727 tons. Southern pig metal flows in as freight-rate disputes affect through rates. Prices cited for pig metal and bars, with brisk business in structural mills and small lots. demand strong for grooved and sheared bars, with various quotational ranges noted.
Rogers Brown & Co reports no major changes in iron markets. A quiet spell prompts some weak sellers, with sales at price levels just below leading companies. Foreign demand is strong, finished products are in high demand, and output is uneven. Prospects for new furnaces slow due to material shortages. Despite optimism, expect no clear price advance in the fall.
In St Louis on August 11 Rogers Brown and Meacham report more inquiries in the past week for small and medium lots but actual sales remain scarce. Businesses cite cautious buying, with some firms offering cash quotes f o b St Louis for hot blast coke and charcoal Uske No 1 to secure new orders amid steady prices.
Bostos reports a generally steady wool market with weekly sales totaling about 2,315,500 pounds though trading slowed by Grand Army events. Major activities occurred in Territory and Texas with scoured prices around 70 cents and fine Ohio weaned at 18 cents. Purred wool noted at 0 pounds value, while Philadelphia shows quiet markets with nominal prices.
A brief market note from New York states bar silver priced at 63 3/4 dollars per ounce, with dealers quoted at 119 1/2 cents for delivery and certificates noted. The report summarizes London rates and local selling drives by who dealers and certificates.
Chicago wheat and corn markets opened steady with mixed selling. Wheat advanced from early losses to close about 1 1/4 cents higher for September and 1 2/3 cents for December. corn saw firmer early, then drifted with varied offerings and a late rally. Prices across oats, rye, and rye futures showed fluctuations. butter, eggs, and produce markets were steady to firm in New York and other hubs.
An old newspaper fragment notes a bank listing at 401 Smithfield Street with deposits from $1 and upward and interest at 4 percent. It also advertises Wixston's Soothing Syrup for teething children, described as a remedy for teething discomfort.
A breathing spell is advised as business remains active in Pittsburgh with real estate brisk, small dwellings in demand, and large properties slower due to absenteeism. Secret Service warns of a circulating counterfeit note bearing risks, while tax lists show quicker payments indicating economic health. Property deals, mortgages, and subdivisions spread across Wilkinsburg and Oakland avenues, with firms like Drape & Co and Rea Bros. & Co reporting multiple transactions as markets remain robust.
Chuffering on stock calls yesterday yielded sparse trading with Electric as the sole active issue. The market drifted firmer with rights unchanged, and an expected boom by the 2th to make them valuable. Readings note declines in bonds and a shift toward bonds over stocks as rates impact prices.
The local money market showed no material change with demand modest and rates steady at 6.7 percent. Bank clearings reached 2,114,352.48 and balances 5,005,515.06, while exchange and currency stayed level though shortages were noted. An observer noted more large bills in Pittsburg than elsewhere in the nation. Money on call in New York was close, 6.15 to 6 to loan, with 6.00 closed offered. Mercantile paper ranged 6 to 6 1/4. Exchange quiet but firmer at 8 3/4 to 4 8 7/4 for 0-day bills.
New York clearings reach 701 511 balan sas with 111 ces and 1 783.47 balances. Philadelphia clearings total 10 205 268 with 1 355 004 and 2 123 816 balances. Bank of England bullion withdrawal noted. New York exchange at 70 percent discount, money steady at 6 percent on call and 6.7 percent on time.
The oil market saw a strong session with rapid price moves and wide fluctuations. About 2:30 the price rose from 0.03 to 0.06, remaining briefly before slipping to 0.60. Around 6,000 barrels changed hands at the high, New York led the bull move before a reversal dragged other exchanges down. Clearances for Wednesday were 200,000 barrels.
Corrected daily prices by John M. Oakley & Co show firm spot and steady September in New York trading. Opening bids ranged with spot at 9 1 4, September at 9 1 6, and later activity mixed as totals reach about 62 000 barrels sold and near 60 601 runs in the Atlantic market.
New York August 11 The stock market showed renewed hesitation as silver demand and Treasury bond purchases lagged. Granger roads led activity and strength with Bar and Quincy and Rock Island volatile but closing near flat. Missouri Pacific stayed steady while industrials were quiet and bonds dull amid limited volume and no major losses.
A New York report dated August 15 lists mining quotations with varied prices for multiple companies and deposits. Entries include Adams Consolidated 115, Caledonia B H 185, Eureka Consolidated 400, Ophir 450, Sutter Creek 105, and several others such as Devon iron and Norcross at 210 and Deathwood T 125.
River activity and coal lading dominate the harbor with boats hauling coal from the upper pool. The Steamboat Protective Association meets today to elect officers as waning influence prompts shakeups. Mariners expect rising water, but no surge yet. several arrivals and departures noted along Cincinnati docks.
A Friday report shows active movement in country produce with butter and eggs advancing while corn oats and hay weaken and wheat and flour strengthen sugar and coffee rise. Prices quoted for dairy eggs vegetables fruit and market goods reflect firm creamery butter high cheese shortages and wholesale barrelling of produce in the Pittsfatag market.
Markets show another rise in sugar firmness with quotes up 44c this week while prices for coffees remain firm. Upward momentum persists in canned and dried fruits as dealers expect early-day advances, with extensive listings for Rio and Maracaibo coffees and a wide range of fruits, syrups, and preserved goods across numerous brands and sizes.
At the Grain Exchange carloads of No 2 white oats and other grains moved as listed with 30 cars in total, Pittsburg Fort Wayne and Chicago Railway handling two oats cars. Almanac shows corn oats middlings feed barley flour among arrivals. various lines report corn oats hay rye. Wheat and flour hold steady, oats and corn speculative with an expected rise in flour prices. Wheat quotes No 7 No 3 and various grade prices. rye and flour futures, timothy and hay bale values included.
A fragmented notice lists sugar cured hams in large medium and small sizes, sugar cured breakfast bacon, dried beef flats, sugar cured beef sets, entrated beef, various bacon cuts, skinned shoulders, pork and ham products including Mesa Fare, tin pails and barrels with prices such as 6-35 tin gais, 400 for half-barrels, and other mostly unclear measurements and items.
Office reports cattle receipts 1163 head with 1843 shipped, market slow with no New York shipments. Hogs receipts 1450 head, 1800 shipped, market fair for cornfed and Yorkers. beef cattle mixed, hog prices down slightly from yesterday. Sheep receipts 1200 head, 700 worn, market slower than yesterday.
Telegraph market wire shows Beeves receipts at 3 503 head with varied prices for calves, sheep, and hogs. Buffalo and St Louis deliveries cited. Chicago Drovers notes higher cattle and slower hog trade. Cincinnati and other markets echo mixed demand and fluctuating prices for beef, sheep and hogs.
The Market Basket notes little change in week to week prices as many top buyers are away at the seashore and mountains. Demand remains steady with fruit and vegetables in light supply. Western fish catches are unusually light and softshell crabs and frogs are scarce as dealers report difficulty meeting customer demand.
Demand for goods at first hands remains fair with improving tendencies and active interest in prints dress fabrics and white goods. Brown cottons wide sheetings and cotton flannels stay steady while cotton stocks improve and sellers lean toward caution. Jobbers are busy and the trade shows strong seasonal momentum.
A New York Tribune report warns of a young Black man about 20 who feigns ties to Columbia College. He visits families when students are away and claims to collect locker fees from the college, presenting forged authority from Superintendent H F P J Porter to extort small sums.
Ice for sale in Mayville region. Listed address appears as Address B in Horson area. Client seeks purchaser for supply of Canada ice with local contact options.
Reports claim Spain strengthens control in Moroccan territories while defending gains against local uprisings. Other items note Victoria poachers with 20000 seal skins. Canadian steam line plans to aid operations against Austria. Chicago water shortages cause suffering. Duluth to probe timber sealing. Rock Island machinists reorder after a discharge. jockey Eugene Arthur dies in a track accident in Missouri with trainer George Sweet also injured.
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