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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Dec 05, 1891
Page
3
The December 4 report notes steady yet cautious activity in iron and steel markets. Eastern demand rises while Pittsburgh stalls, with rail orders for spring deliveries improving and old rails remaining firm. Analysts see 1882 as a peak year for U S iron and steel trade, aided by railroad purchases and ongoing improvement in Bessemer values.
The week started weak but later trading shows cheer in the Cincinnati market. Prices hold with no overall rise yet buyers plan ahead, placing orders for longer terms while producers resist deep forward sales. Charcoal foundry trades remain steady and rail freight costs influence quotes.
Special dispatch reports the Chicago market with sparse interest over the week. Dealers see small lots for short deliveries and occasional larger sales as manufacturers cut stocks before inventory day. Prices soften in both Northern and Southern furnaces while producers warn any sustained decline could curb output and prompt wholesale adjustment.
In St Louis December market notes Rogers Brown and Meacham report steady buying for season. Car works near full contracts, rail traffic expected to rise, and demand for Southern irons small lots remains strong. Lake Superior iron sales at low figures signal stocking by buyers. Ohio iron inquiries noted with encouraging outlook despite lower price realization. Prices quoted f o b St Louis for various coke and ore products.
In Pimapedra on December 4 a report from Rogers Brown & Co. notes no change in pig iron markets. Production remains large while consumption is near seasonal averages. prices tilt slightly to buyers for early delivery. Strong early steel demand extends 6 to 12 months, but sellers resist long extender contracts.
With holidays near the iron market in BrewisgHam shows distress and hits its lowest level yet. Demand is light and orders slow as January looms with stocks high. Prices at furnace No 1 foundry 12, No 2 foundry 11.50, No 8 175, grey forge quoted. Coal trade also weak as miners struggle to sell. Political canvass intensifies local unrest over convicts removal and miners’ votes.
New Year markets show iron steady and in fair demand while copper sits quiet with December and January prices noted. Lead remains nominal and tin stays dull yet steady around 210.5 as buyers and sellers reassess values.
The Kitchen Market reports mixed conditions with South produce arriving early and limited bag stock. Meats stay steady in price though overall demand softens, while oysters and fish show ample supply. flowers stay quiet with orchids in demand and chrysanthemums fading.
The report notes Black & Baird sold downtown business property for 46000 near Seventh Avenue and T A Gillespie sold adjoining Penn Avenue property for 20000. Experts say downtown business property demand remains steady with active buyers and several near-final offers signaling tight market conditions.
Philadelphia Gas led activity though below prior day levels while Pittsburg Traction and Pleasant Valley eased. Bonds seen with Pittsburg Traction first mortgage sixes and Puquesne Traction bids. dividend action at Commercial Cable and a large Spain loan redeems funds. St Paul stock neared yearly highs as market bids and asks were shown in the day’s table of quotes.
Stocks show little overall change amid lingering war and demand uncertainty. Goulds lead losses for Missouri Pacific while Northern Pacific preferred weakens. late buying and covering emerge as bears press. Total volume reaches 170,741 shares with declines at many blue chips and a heavy close near day’s lows.
A historical stock listing fragment shows Lehigh Valley and Northy Pacific entries among presorted shares. It includes Boston & Albany Atlantic & Coast lines, Calumet & Stern, Santa Fe, and West End Land Co entries with scattered price cues and company abbreviations.
The local money market remained quiet with no pressure for loans and no rate changes. Banks aim to broaden discount business while manufacturers hold off until after the holidays as holiday trade becomes the main reliance. Bank clearings reached $2,413,727.61 with balances at $9,454.55. New York money on call was easy 3 to 6 percent, prime mercantile paper steady. sterling at $4.81 bid for bills.
Closing bond quotations list various securities with yields and identifiers. Entries include Union Pacific first and other railroad and utility issues, with prices around 4 to 10 points and percent yields noted. The page shows mixed debentures, preferreds, and consols from multiple issuers including Northern Pacific and Missouri, along with regional railroad and canal company securities.
Bank clearings across major cities include New York 112 653 124 balances 5 405 003 Boston 17 566 513 balances 2 594 192 with various exchange discounts. New Orleans 2 105 140 Chicago 17 315 506 and St Louis 24 020 300 balances 60 172. A Conan Doyle presents Beyond the City opening chapter to-morrow.
Receipts at Carrie-Receipts 735 head with 693 shipments. market slow with consignments. Haas-Receipts 4 900 head, shipments 5 500. market active. Philadelphia and New York trades mixed with 875 480 and 350 heads. Hog market sees 30 cars shipped to New York. Suenr-Receipts 400 head, shipments 600. market very slow with nonchanged prices.
Telegraph market notes show beef and cattle receipts across New York and Chicago regions with steady to strong trends. Natives and western cattle priced 1.30 to 2.75 per pound, hogs mixed to prime heavy 3.60 to 3.80, sheep and lamb values largely firmer, with varied regional shifts and steady shipments noted in St Louis Kansas City Cincinnati and Cincinnati markets.
Boston December 4 There is strong demand for wool with total sales reaching 3,716,000 pounds across all types Territory wools from Montana Utah and Wyoming sold in large volumes at low prices fine medium at loge and fine down at 1fc Scoured boals sold mainly at 19 60e for fine Mig 58e for fine medium and 2 16e for medium Texas California and Oregon wools quiet with small lots sold though 100 000 pounds of fall Texas brought 20 22e Ohio fleeces active with various grades selling from e to 3e Michigan sales mixed with prices around 26ig 277e No 1 wools Ohio 3e Michigan 4 for washed combing wools No 1 at 37 39e Ohio fine delaine steady at Se Michigan at S2 3dc Unwashed cooking wools in fair demand 25 28c for quarter and 22sec for three eighths Unwashed and unmerchantable Onto and Michigan wools sold 19 28c Polled wools in fair demand 0 10c for super 22 d0c for extra Foreign wools dull Louis wool receipts 1 100 pounds shipments 100 pounds Market steady quiet unchanged eel woe quiet prices nominal
New York December 4 coffee options opened steady five points down to support, closed steady with a one dollar twenty five point gain. Sales totaled 26,000 bags. Spot market quiet and firm with No 7 at 14 44. New Orleans reports coffee firm with ordinary to fair trading and modest price increases amid strong demand.
New York price for bar silver in London quotation stands at 44 1/4 pence per ounce. Local dealers in New York listed silver at 95 3/4 cents per ounce for domestic trade.
The Drygoods Market reports no new developments today with no notable changes in prices or supply. The Tarpentine Markets continue dull and weak at Hgqvte, reflecting sluggish demand and limited activity.
The Advance notes a slow dairy trade as creamery butter prices lag last week while fresh eggs grow scarce. Sugar and coffee show firmer or steady moves with mixed fruit and vegetable markets and cautious demand across stalls in Pittsburg and surrounding markets.
Grain Exchange notes mixed activity with hay and flour steady, corn and oats showing a firmer tone. Carload quotations cover multiple rail lines and include prices for white oats, mixed oats, barley, malt, and various millfeeds amid overall unchanged cereal markets.
Chicago and New York grain notes show wheat futures opening strong then slipping to weak close. December corn opens firm then retreats with private cables weak, oats steady, and pork and lard markets showing mixed moves amidst supply hints and weather fears.
The dispatch summarizes grain and dairy price movements in Milwaukee Minneapolis Philadelphia Toledo Duluth and Kansas City with notes on flour, butter, cheese pork lard and bacon futures. It highlights steady to firm trends in various grades and mentions upcoming contracts and deliveries.
During the La Grippe prevalence the Berlin Sanitary Commission urged Soden Mineral Pastilles as a convenient preventative and cure for those prone to colds. The troches are claimed to cure obstinate catarrh, colds, coughs, hoarseness, and sore throat. authentic products bear Eisne Mendelson Co. New York signature.
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