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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Dec 31, 1889
Page
7
Hog prices steadier while sheep and lambs hold firm as holiday market slows. Cattle offerings total 323 with better quality and cautious demand. prime Western heavies around 66. Boxed comments note light cattle runs at Liberty and firmer pork prices, with poultry and game strong for the season.
The East Liberty Stock Yards report cattle and hog receipts shipped to New York. Seven cars of cattle and nine cars of hogs were sent, with totals around 42,000 head of cattle and 4,000 head of hogs recorded, pricing varying by grade and market activity.
Cattle receipts around 10 000 head with mixed grades and firm to higher bids. Sheep and lambs show firmer markets, with steady to higher prices for various classes. Western corn and London cable notes indicate stronger demand for American cattle and beef products.
A garbled report outlines December coffee purchases and base clearances totaling 71,000 with receipts. The text references weeklong activity, shipments, and a meeting related to rites but lacks clear names or places.
The Visible Supply of Grain reported by the New York Produce Exchange for Saturday December 24 lists Wheat at 52,971,668 bushels with a rise of 15 bushels, Corn at 40,090,000 bushels up 844, and Soybeans at 4,158,203 bushels with increases and decreases noted across categories. Barley readings show 2,425,700 bushels with a decrease of 94,177 bushels.
Wheat trading remained steady with a firm bias as demand absorbed local offerings. Reports show a 300,000 bushel drop in visible supply and mixed activity across Chicago Detroit Duluth St Louis Minneapolis and other nodes with December showing weakness while May and July futures held steady. Coalitions of price shifts occur as weather and receipts influence the market with pork and lard futures active and butter and dairy markets steady to weak in the backdrop of a broad commodities scene.
The Ella Gordon property on Penn avenue near 44167110 sold yesterday to Charles Lockhart for 70000 dollars, about 1500 per front foot, adjoining the Messler tract sold to M. Seibert & Co. Lockhart plans a business block next spring. J. J. Howley reportedly sold an East End residence for 90000 dollars but was unreachable for details. The Dispatch surveys a prosperous year with steady demand for urban property and continued industrial growth, urging restraint to avoid a speculative real estate boom. It notes office buildings stay occupied with strong rent yields and urges more large, well built business houses to boost trade. glass and lumber trades show uneven activity as preparations for next season begin.
Market notes say trading was brisk for Monday with unexpectedly large sales and generally firmer prices near year end. Philadelphia Gas led gains with a strong feature, while New York and Cleveland Gas were in demand but held, and several banks and railroad shares appeared in the mix.
The week opens with steady rates around 7 percent and abundant bank cash. Money on call in New York shows marginal gains, with prime mercantile paper active but subdued. Clearinghouse figures show firm money in Chicago and light, stable activity in New York and Pacific markets.
The oil market showed a small improvement over the worst days of last week though featureless and narrow. Opening 108, high 100, low 92, close 107.4. Puentesa and Oil City led buying but demand remained insufficient and prices drifted to new lows. Saturday's clears were 20,000 barrels. Corrected daily by John M. Oakley & Co.
The December oil market shows mixed moves with highs near 103%, lows around 1023, and a closing near 1063. Trading activity on the Stock Exchange reports total sales of 243,000 barrels as prices fluctuated through the session.
Reed B. Coyle & Co sold one acre adjoining the Thornton place in Coraopolis with brick machine shop for 4500 dollars. Black & Baird sold Lot No. 31 in Valley View plan via Rebecca Street for one year at interest on payments. Samuel W. Black & Co sold property on Reed Street near Overhill in Pittsburgh to a buyer for about 1650 dollars.
In New York a weak money market drove a tentative stock dip with a later partial recovery. The Bank of England unexpectedly raised its discount rate to 6 percent, shaking foreign holders and pressuring early quotes. Treasuries prepaid January interest aided easing, while calls and foreign selling fueled volatility.
In Philadelphia today market movers show small gains and losses across steel and railroad issues. Reading and Lehigh Valley lists hint at steady activity with attention on Pittsburgh & Western and local lines.
Business notes show Wilkinsburg Oil Co on well No 2 at Weinman farm while well No 1 remains plugged. Reading Railroad reports weekly coal shipment of 6 100 tons with 27 000 to Port Richmond and 6 000 to Port Liberty. Windom sent telegraphic instructions to sub treasurers to pay. Pennsylvania Railroad notes 40 059 tons of traffic east of Pittsburgh and Erie with 25 308 coal and 124 827 coke. Edgar Thomson furnace output averages 226 tons per four hours, two new furnaces near completion promise greater daily yield.
A well dressed man arrived from Norfolk at 4 AM and aroused suspicion with a long false black beard. He claimed the name Christman and faced a concealed weapon charge after a pistol was found. He had escaped a jail in Ham ton Va after a prior sentence for abducting a child and had worked as an assistant editor and political speaker.
GOING TO GIVE A GREAT SHOW. Columbia, N C December 30. Next Wednesday marks the twenty seventh anniversary of emancipation. The Colored Agricultural and Mechanical Society of South Carolina opens its first fair in Columbia with use of white society grounds. Railroads offer same rates as State fair. Local preachers formed the society last fall to showcase black progress before politics. The fair runs January 1 for four days.
Captain James Meredith of Chicago propagates a novelty stamp to show support for Chicago’s World Exposition. The gummed stamp bears a red seal and the inscription 1892 World’s Exposition Chicago, printed in sheets and distributed to promote Chicago nationwide.
A brief note suggests keeping Hamburg figs in the nursery as they are effective for indigestion. The guidance mentions a case of stomach upset and the remedy is described as prompt and efficacious with a dose of one fig, attributed to Mack Drug yee KG.
Real estate savings bank at 401 Southfield Street corner Fourth Avenue Capital offers deposits of 1 or more with interest up to 4 percent. Advertises customer savings and deposit services with periodical updates and financial terms.
The December 3, 1820 market report notes quiet trade among commission men with poultry offerings bright due to rail delays. Fresh dairy, butter, and several produce lines show mixed activity while overall retail stocks shrink. Prices for sugars, coffee, and imported goods drift lower. expects more active trading after New Year as retailers renew stocks.
Receipts listed by Pittsburg, Ft Warne and Chicago show oats corn soybeans and flour with signs of weakness in all cereals. Supplies exceed market demand while new corn remains the weakest. Quotations note on track prices for wheat No 2 red around 66 00e and No 5.
The dissolution of the Western Passenger Association will be followed by a war of rates as competing lines seek advantage. A French dispatch boat Bouvet near Zanzibar is reported a wreck, with one crew killed and others injured in a bow collision. A Rome canal meeting saw the pope denounce the government Ecclesiastical trans bill and the deposition of the Bishop of Altamura. Gladstone’s 45 year old article on confession is referenced, with request for authorial clarification. A police dispatch reports arrest of James Yeate for jewelry forgery, remanded to Governor’s action in Illinois.
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