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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Feb 11, 1890
Page
7
Allegheny street developments spark ground breaking plans for a 50-foot street line. D P Black intends to start a three-storefront business house on Wiley and Thomasot within five to six weeks. Meanwhile land on Hemlock Street and McKelvy farm parcels attract bids around 2000 dollars per acre.
The stock market on Monday saw active trading with 27 shares reported in gas issues and Wheeling Gas block trades at 18. Other securities showed limited movement. Union National Back and Birmingham via Co were noted among listed items with various bids and fills. Total New York stock sales reached 17010 shares, with large figures from Delaware, Western Union, Reading and others.
The week begins with several property deals. C Beringer & Son sold No 6 Federal Street, Pillsburg, with brick fronts, for Max Sobel at 4400 dollars. I C Reilly sold No 08 Grant Street to Mrs Barsh A Reed for 5500 dollars. Williams sold a two story frame dwelling on Charles Street Allegheny for about 2500 cash. Wacko Fourth sold Lot 252 Linden Campus plan for 100 by 100 feet to Simon Beymer. J Hardie’s sale included Juliet Street lots 165 feet deep. W A Herron & Sons offered Newmouth six rooms with monthly payments of 2 dollars and price near 1000 dollars.
Pittsburgh banks report smooth money markets with ample funds for business. Only a few banks say they are closely loaned, while discounts show moderate demand and rates run below the average. Bullion and balance figures from major cities indicate mixed activity and steady money rates.
The monthly pipeline report released yesterday depicts a bearish turn in market sentiment as certificates fall by 640 405 and stocks decline. Bullish conditions fade with manipulation dominating, while several wells including Simpson Co Sheffield and Gourley at Claysville show varied production.
In Fraxelr Pennsylvania two dry holes were completed in the New Sheffield district yesterday and operations shut off to the southwest. Clappwell No 3 on lot 100 finished and producing about 900 barrels a day. Clapp Well No 1 reduced to 200. Deer Leck Oil Co. prepared to drill and touted as the largest well. Simpson & Co. well on the same lot rose to 100 barrels per hour. The field is described as highly promising with leases rising as farmers and property owners anticipate fortunes from the oil boom.
Drilling surges in Butler County Pennsylvania with several wells coming in. Long & Graham on Henry Wah farm filled to the top with oil and will be torpedoed tomorrow. Sies farm Wyoma district reports a good well. Goff & partners have two strong wells in Gould district near Guffey No 1. Gale Thompson Co and Hartman Co start three rigs each on Shannon and Brandon properties.
Corrected daily prices and listings from John M Darney Co and the Pittsburg Petroleum Exchange. Includes entries for Antwerp Bremen and New York markets with bids and calls around 105 to 108, plus references to A B McGrew and global commodity quotes.
In New York on February 1 petroleum opened steady at spot price around 1.0835 and climbed to 1.06 in trading. March option held firm near 108 and then weakened as sales fell. Total stock exchange activity shows 630000 barrels traded with highs near 107 and lows around 105.14.
New York reports a dull narrow session with a heavy tone and few notable advances. Bears attacked Rock Island and Sugar refiners, sending declines of around 1.5 percent, but later gains emerged as a published bank statement error was corrected and shorts covered.
The market opened with broad weakness as shares including Chesapeake, Reading, and New England declined. Jersey Central and Lackawanna showed varied strength while rail bonds stayed dull, with total daily turnover around 100,000.
The Keystone Bank moves to a new Fourth Avenue building around March 1. A three fourths stake in a Smithfield Street property near the new site is noted in a report from the Bankers and Bank Clerks Mutual Benefit Association received by The Dispatch, indicating prosperity. The Telephone Company plans a stone office on a Seventh Avenue lot bought from the Lutheran Church, while the Bank of Mc is said to have a five story modern building under construction on the Monongahela, described as the finest in progress.
Henry J. Fanz of Lexington Mass notes in a letter to Senator Spooner that he was brutalized by citizens of Aberdeen Mississippi and sought protection from local officials. He states he left promptly after the assault and expresses thanks for any future protection.
Miss Edna Busch of St Louis, 18, daughter of Adolphus Busch, sails to New York to marry her cousin Hugo Relainger. Parents oppose the match due to close blood relation and discuss sensational spread in German society circles.
The widow and 17 Chicago charities each received gifts totaling 135000 dollars split as none less than 5000 nor more than 15000 with no creed or condition. The distribution honored Conrad Seipp in memory without tied strings and a brief letter accompanied the gifts.
The market report notes firmer poultry and eggs with high demand for choice cabbage and good potatoes, while Floridas oranges remain oversupplied and weaken. Butter prices hold, with mixed dairy and various produce lines showing shifts. Monday is quiet, blue Monday observed. Provisions edges include a pork price rise and bacon shoulder drop, with refined lard and canned goods listed.
A dense listing of groceries and wholesale items covers Rio coffees, Mocha, Santos, Caracas, and many other origins. It notes roasted varieties, bulk sugars, baking supplies, canned goods, dried fruits, nuts, oils, spices, preserves, and seafood with assorted prices and pack sizes.
Grain receipts total 66 cars with destinations Pittsburg Fort Wayne Chicago and Baltimore and Ohio and others. Rye corn feed nay flour barley wheat oats hay mill feed and other lots listed with car counts and prices, market notes blame scarce high quotes for choice hay and mixed speech on retail demand.
Chicago reports fair wheat trading with weakness in prices amid large visible supplies and shifting foreign demand. Corn trading remains active though prices slip as futures ease, while notes from Kansas and Kentucky influence sentiment. U.S. markets show mixed action with other cities recording subdued movements.
Drygoods in New York on February 10 show slow development with orders filling and deliveries keeping the market in fair shape. Cotton goods remain strong and coarse yarn fabrics trend upward amid a generally good tone.
Board of Trade notes grain figures with increases in barley and other cereals. Market data shows 5,478,000 and 316,000 unit increases and a barley figure around 118,005 with related derennes and rye data.
Iron steadies in New York, with dull activity and firm prices for domestic buyers. Lead holds near 800 with a quiet session while tin dips to 2045 as markets show selective strength and cautious trading.
W Hruz of Pittsburg Meat Supply Company sold 102 beef carcasses for Messrs Nelson Morris and Co of Chicago for the week ending February 8 1880 at an average price reported as one eighty one cents per pound.
Receipts light but demand active as markets show shade higher selling prices. Cattle chiefly from Chicago with scarce prime heavy beef. cows and calves fragile, hogs up sharply. sheep and lambs steady with buyers traveling to East Liberty for supplies.
Approximate gross earnings reach 2 242 958 with increases noted. Benson released from custody on a burglary case in Nice Beach. A block of baling stock and insurance figures listed for Morris. Patrons at a Gainesville Missouri silver mine dispute. The Enterprise steamer carried the body of George H Pendleton toward Bermuda. Nearly 200 delegates attended the St Paul Fight Hour Convention with factions split. A fire at a Columbus Ohio woolen mill caused about 6 000 loss. Idaho statehood bill directed for favorable Senate report. Mrs William Kin found dead near a house. Iowa Supreme Court ruling on government licenses and cider dealers. B Ward arriving from London aboard the Umbria. planning Niagara trip. Wisconsin car boom and sawdust boom tied to winter work. Freight rate cut of 2 cents per 100 between Michigan routes and Grand Rapids Indiana. Port Eads towboat struck a pier at Kansas City and sank. crew hospitalized. Davies & Co liabilities shown with significant secured claims and creditors. Montreal dispatch notes Broadway onstage representatives seeking control.
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