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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Dec 02, 1890
Page
3
In the downtown market scarce land and many properties are tied up by title flaws. A Pittsburgh lawyer cites a Highland Park deal where a clouded title nearly cost a £50,000 purchase before a rapid examination cleared the path. Improvements and new development hinge on clearing title defects across Liberty Penn and surrounding streets.
In a quiet trading day, overall activity fell while values slipped. Major losses hit Philadelphia Gas electric Cen tral Traction Chartiers Gas and Airbrake with prices at year lows. Philadelphia Gas dipped to 18 per share on the first call and 7 on the second, while Electric hovered around 20 and 16 at bids.
A group of brokers gathered after the last call to discuss the situation. They did not expect a material reaction this year yet agreed that conditions would improve once financial pressure loosens. Mr Westinghouse arrived home from the East and spoke hopefully about prospects of his interests.
The week opens with steady money demand and sufficient liquidity for regular businesses while outsiders feel the pinch. Rates hold near 6 3? percent on call and time, with large exchange figures and several bank clearings across major cities reflecting mixed liquidity conditions.
Limited oil trading yesterday left prices drifting downward after an early rise. The market opened weak, rose briefly, then closed at a lower level with about 1.19 million barrels passing through. Antwerp refined was down slightly while other points held steady.
New York stocks extend losses into December with no clear spark as banks fund disbursements at month start. Heavy call loan rates near 14 percent and widespread selling in railroad and arbitrage shares push the market to its weakest levels of the day, with Lackawanna Delaware and Hudson Union Pacific and Louisville and Nashville leading declines.
The week opens with drizzle and sloppy streets, produce commission men report weak demand. Poultry remains scarce in the market while grapes are nearly exhausted and prices rise for potatoes and tropical fruits, apples and other staples show firmer quotes.
A December 1 release outlines a net increase in debt for November, detailing interest bearing and non interest bearing components. It shows total certificates and notes, cash in the treasury, and the net rise in debt, with figures including gold and silver certificates and national bank notes.
A scanned price list shows extensive entries for roasted coffees, spices, dried fruits, nuts, sugars, syrups, starches, and canned goods. It includes Brazil and Maracaibo origin items, several bulk and jar formats, and various brands with price points across coffee, dried fruits, and preserved goods.
Receipts show 66 cars with 38 from the Pittsburg Fort Wayne and Chicago Railway including corn, hay, oats and flour. Prices listed for corn oats flour and rye across several grades. Cereals are dull, old corn is off market, hay slow, and flour stocks large as retailers push burden onto wholesalers amid financial uncertainty.
Special telegram to the dispatch from New York reports sarcastic market tone as bar silver prices show London and New York values near 1061 dollars.
The river sits at three feet six inches and falling with upcoming colder weather. Downstream and upstream packets kept routine schedules though water levels threaten later trouble if the decline continues. The Keystone State arrived from Cincinnati and the Andes is slated as the next regular boat.
The Boston Herald notes a nerve cure lasting 21 days using barefoot walking, daily ice water baths, and a milk and vegetable diet. Critics joke about consignment to Koch and Somerville while praising a natural, though disagreeable, toughening regimen. The piece contrasts this with natural infant motherhood and ends with reflections on genuine smiling.
The Pittsburg Dispatch reports at Herr's Island, December 1 1890, cattle supply larger and prices stronger due to higher Chicago costs. Best Chicagos up to 5 60 per cwt, prime westerns 5 25, midweights 4 75 to 5 00, light 4 50 to 4 75, common 4 10 to 4 25. Hogs and sheep mixed. hogs steady 4 10 to 4 20, country hogs weak 3 25 to 3 73. Receipts from Chicago Ohio and Pennsylvania listed, with large totals and regional runs at Woods Run East Liberty and other markets.
Office of the Pittsburgh Dispatch reports December 1 1500 trade at East Liberty stock yards. Cattle receipts 2770 head shipments 1764 head market active and higher than last week with 20 carloads shipped to New York. Sheep 4000 head shipments 2000 head market flat at last week prices.
Telegraph notes Cincinnati New York Buffalo Chicago St Louis Kansas City Indianapolis markets show cattle receipts and shipments. Prices quoted for steers hogs and lambs vary by region with firming notes in some cities and slower demand in others.
Grain figures show total 1 184 000 bushels December oats 170 000 bushels and other quantities listed by the Secretary. The visible tally reflects December totals and indicates large grain stocks across categories as reported in Chicago.
Chicago and New York reports show wheat corn and oats recovering from early losses to gain substantially. Hog supplies pushed pork prices lower by close. corn and wheat fluctuated with local trading, while provisions remained under pressure from large hog receipts.
The report details pork and lard prices with several bids and steady lines in Philadelphia and Cincinnati. It includes grain quotes for wheat corn oats and rye across Chicago Kansas City Milwaukee Baltimore Toledo and Duluth with receipts and shipments figures and price directions for futures and spot sales.
An unsuccessful attempt to puzzle two Eastern postmasters is described after a postal card mailed from Station F in this city last Tuesday. The item hints at a staged ruse, with the New York Sun noting the questionable mailing as part of the case.
A note from an ivory carvers firm member explains a bet that a misaddressed card would reach a named party. Postmasters Van Cott and A Mailand discuss the recurring prank about a John Underhill card sent to Andover, noting it is decades old and often unfindable.
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