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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Aug 24, 1889
Page
3
Market notes show poultry and reed birds now appear in supply and prices vary. Fruit and vegetable stalls report abundant California grapes and peaches with steady to higher prices for eggs and lake salmon. General trade remains dull but dealers expect a brighter Sunday dinner market.
Market reports show dull conditions across cattle hogs and sheep with mixed receipts. Cattle receipts around 4% head, heavy shipments via through consignments and no cattle to New York. hogs 2,450 head, prices lower by about 10 cents. New York beef and veal prices listed, with varied stocker and feeder values. Sheep receipts 5,000 head, demand light. regional cattle and hog prices indicating a generally weak session.
The market reported improved demand in first hands and stronger buying in the jobbing trade. Prices were steady with a firm undertone across fabrics, and no notable incidents or changes disrupted trading.
Wheat markets showed renewed weakness with December futures slipping to about 7 1/4 cents, cash and nearby contracts softer, and price pressure broadening across grains. Bearish weather and unfavorable cables weighed as shorts covered only modestly. traders noted heavy volume, light farmer outflows, and renewed selling in futures while cash wheat and oils remained weak.
Philadelphia reports dull wool prices while St. Louis shows receipts at 4143 pounds. New York wool remains steady and quiet with domestic fleece around 29 to 30 cents. Boston notes very dull unsettled conditions with sales confined to small lots and recent Providence failures adding uncertainty. Fine washed fleeces slow, unwashed combing wools about 20 to 26 cents per pound, with regional variations across Ohio Pennsylvania and Oregon.
The article notes rapid growth in Wilkinsburg prompting demand for a first class hotel at suitable sites. It also covers oil field revival in Greene county with multiple wells and current production, and discusses shade tree preservation on Wallace street with banker reactions to money markets.
Uneventful session shows limited activity at the exchange gate with La Noria stock trading around 131 to 134 in the afternoon and a small Philadelphia Gas bundle at 37. Prices fluctuated while buyers and sellers remained far apart, leaving the overall market subdued.
Fragmented OCR text mentions California and Central and items like consolidations and silver, with scattered numbers and company mentions. The readable material is incomplete, offering few clear facts or events to describe.
The local money market remained quiet with rates steady at 5.6 percent for collateral only gilt edged paper. Deposits showed strength while checking was fair and exchange and currency stayed close. Clearing House reported 61,706,023 in exchange and 41,170 in a related article, with broad reflections on lower interest rates and profit shifts affecting manufacturers and merchants.
The petroleum market drifted downward yesterday with little cash activity and a weak closing. Bearish news from Butler County and New York flurried traders, while most prices stayed below the previous level and traders predicted limited upside unless short interest improves.
A fragmented listing from Titusville shows certificates open and lowest figures, with reference to New York and August viewed fees. The text is incomplete but implies a steady percentage context around 6% and totals left unspecified.
Real estate deals reported include sales at 3509 Butler Street to Ed Bannan for Mrs. Louina Miller, a 6108 Butler Street lot with brick dwelling. 4 brick dwellings on Second Street to Jesse C. Reed for $995 cash. and various lots in Maplewood and East Brady areas. Mortgages issued for several properties, with terms around 6 percent, and multiple auction results noted. Listings cite agents Alles & Bailey and W. Bincks & Co, with properties in Hazel, West Newton, and Sloane’s Fleming Avenue plan.
A $5,000 real estate transaction blocked by a $0 discrepancy is tied to Henry M. Long’s gymnastic exhibition and a $5,000 mortgage placed on a county farm at 6 percent. The piece also notes dull fire and life insurance, fall woolen orders, and a Westinghouse contract for Amherst Gas.
An August New York market summary notes subdued volatility with feverish tone and heavy yesterday sales explained by Judge Cooley. Call rates held near 6 to 7 percent, no liquidity stress, and mixed activity across rail and miscellaneous issues with brief gains and a late rally before close.
Texas oil potential grows as W Mandel of Galveston travels to New York securing capital. East and West Texas show oil finds with pockets and surface seeps, including Crystal City San Antonio and Piedras Pintas Ranch in Duval. Deep wells in McClelland and others report productive signs, with early yields and hopeful forecasts for large scale production.
Market notes show Scotch pig iron and Bessemer ore with firm activity, prices steady though volume down. Shipper lines report mild steel and iron products maintaining strength. freight to New York quoted at 10s 0d and 13s 0d for steamers, with various stamps and sizes listed for rods and bars.
The Pittsburg office notes higher and firmer prices in country produce with steady trend for peaches and cantaloupes, increased movement and ample supplies of apples pears and watermelons, and varied dairy and grocery pricing across regional markets. Butter eggs cheese and beans show mixed movements while tropicals and canned goods remain plentiful.
Total receipts bulletined at the Grain Exchange include 27 cars. By Pittsburg Fort Wayne and Chicago 9 cars of oats 2 of malt lot of flour lot middlings. By Pittsburg Cincinnati and St Louis 1 car of feed 4 of corn 2 of wheat 2 of hay lot of corn. Shell corn weaker choice oats firmer flour moving at quotations. Western and Eastern Ohio wheat quality improving. Hog prices lower at Chicago today with 50.
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