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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Feb 12, 1889
Page
7
An article defends Pittsburg real estate values against investors who fear inflation. It argues local valuations reflect genuine growth driven by population, manufacturing, and housing demand. The business district, squeezed between two rivers and hills, shows rising prices and new construction, not a real estate boom.
Westinghouse Electric led the day with a move from 414 to 424, 424 asked, amid rising activity and perceived stock scarcity. Central Traction debuted with strong early volume, Dig switch and signal surged from 14 to 18, and other names showed modest gains. Total session sales reached 615 shares, with Central Traction contributing 30. The market list showed broad gains across rail and utility issues with notable trades and prices.
Banks reported a calm day influenced by weather and a routine recount. Saturday and Saturday night retail results boosted deposits, with the clearing house showing solid totals as checks doubled. New York on call money remained easy, with sterling exchange steady and mercantile paper firm.
Local deniers adjust a commission on small dois and summarize clearings and balances. Bank clearings figures appear for New York and Louis with a mix of earnings. Clearings show varied totals and small changes across categories.
The oil market opened yesterday with bullish sentiment and brisk trading at 85 cents, despite bears testing for a break. Traders in New York and Pittsburgh noted buying pressure, with final quotes near 8 3/4 to 9 cents and refined at Santos easing to 7 1/4 cents.
A Western statistician compiles population and property valuations for Territories as Congress may admit two or three before adjournment. The table uses Interior report figures with Alaska Utah and Wyoming as estimates while other Territories rely on recent census data.
Fragmentary OCR item lists refined oil and steel mentions with scattered place names including New York London Antwerp and Wabash. The text is garbled but hints at commodity references and routes or ports connected to early 20th century trade.
Yesterday evening Millerstown operators struck a well on the J C McCullough farm near Kepler's Corners. The well shows 10 barrels and lies on about a 4 degree incline in the fourth sand. Several nearby wells are reporting up to 10 barrels.
In New York on February 11 petroleum opened strong at 81 1/2 cents but soon slid to 81 1/2 cents then rose and recovered all losses. The market closed steady at 53 1/2 cents. Sales reached 1,286,000 barrels.
The market in Pittsburg heats as April nears with high demand for buying and renting homes. Agencies report heavy applicant volume while multiple parcels change hands including lots on Penn avenue Auburn street and Jose street Twenty-first ward and a suburban Pennsylvania Railroad residence selling for 16460. Mortgage activity includes 1700, 1300, and other loans on city properties at 6 percent for terms of three years.
The New York stock market showed broad strength led by strong gains in Union Pacific and Oregon Short Line, with notable advances in Memphie and Charleston, Peoria, Decatur and Evansville. Burlington traded weakly after noon, while the market closed near the day’s best levels with most issues higher. railroads remained active though mixed.
Boston trade opens firm with Union Pacific and Oregon Short Line leading gains. Chicago risk of a setback, Burlington and Quincy lag, copper shares show weakness amid a broad session. Several rail and eastern utility names cited among notable movers.
A small railroad extension of about twelve miles in the Clearfield soft coal area, effectively an offshoot of the Beech Creek system, will enter Pennsylvania Railroad coal traffic. Independently built, it will tap coal properties previously served by the Pennsylvania line and is expected to haul up to 80 000 tons annually, with some diverted from the PRR. Engineers are due on the route within ten days, backed by Harrisonburg financiers and local shippers benefiting from the venture.
Philadelphia stock list shows Osine GaCeAmore of Philadelphia as a med by White 2 Laptense brokers at No Fourth Avenue. Embers Ark Stock Exchange displays bid and asked quotes with market makers listed as chi el 5 See aeay Northern Pacific preferred.0. as.
New York notes a late list of mining shares with Amador 190 Bodie 155 Caledonia BH 270 Consolidated California and Virginia ex dividend 730 Commonwealth 300 Deadwood 14 Gould and Curry 270 Hale and Norcross 45 Homestake 1355 Iron Silver 920 Mutual 145 Plymouth 850 Savage 295 Silver King 110 Hope 105 Sullivan 125 Yellow Jacket.
Pittsburgh Dispatch notes rising prices and activity in country produce, led by butter and eggs after Elgin Butter Board advances. Wheat shows speculative gains while hog prices edge up for packers, hides and harness leather with firmer tone. Overall, trade steadies after a prolonged post holiday lull as prices shift and markets adjust.
The Mark Lane Express weekly review notes continued apathy in English wheat demand with weekly sales at 50,052 quarters, down from last year. Foreign wheat shows more activity while American prices firm. California white strengthens, red winter weaker. Beans, peas, and lentils show small shifts as market tightens.
In Mornay February 11 1880 a Pictssane note reports subdued country produce trade with Monday steadiness. Old winter weather offers minimal comfort to merchants as butter eggs and other lines trend upward. hopes grow trade will improve this week though current tone remains cautious. Market listings include butter eggs beans wax cheese and fruits with wide price ranges and many items noted for fresh and routine shipping.
Receipts bulletined from Grain Exchange show 4S cars by lines Pittsburg Fort Wayne and Chicago with oats hay barley corn bran flour and wheat and by Baltimore and Ohio 3 cars of hay. Wheat prices show lobbing No. 2 eggs and 1 yellow shelled readings with mixed oats rye and barley figures. The market remains buyers favored while the wheat boom and firmer flour persist.
An OCR fragment lists item codes, prices, and quantities including notes like No 1 do $4 2514 and No 2 do $120 18 loose from No 1 O18 roosts Sipad's with other figures such as packing Coca $800 S8 heat and rye Straw $700 72.
A 10 cent drop on hogs is reported in Chicago with mixed listings for hams, bacon, and shoulders. Liberty markets are described as quiet while prices for various pork cuts and cured meats appear at varied levels and forms.
Armour & Co lists dressed beef carcasses priced at 450 to 550 and 600 to… per hundredweight with a markup for wastage. The fragment also references other dressed meats but data is incomplete and unclear due to OCR errors.
Receipts show cattle about 2 cars this week, light numbers overall, with four loads heavy cattle around 1,600 pounds. Best prices were 1,500 to 1,600 pounds at 475 to 500, about 25 cents below last week. Medium stock 1,100 to 1,400 pounds sold 425 to 450. veal calves scarce but steady. bulls 225 to 300. Hog receipts near 600 weekly. heavy hogs 400 plus around 4, light weights 5. Sheep and lambs light at 5,000 total. one good bunch of lambs at 1 to 2, 3?te, scarce to fill demand. Market generally down except sheep due to tight supply.
Live stock markets feature cattle receipts 1,960 head with shipments 1,000 head as market remains firm after last week. Hog receipts 77,900 head with midweek activity fair, New York and Philadelphia light export and city slaughter demand. sheep 11,300 receipts with firmer demand for good to choice. lambs $6 to $7. Hogs steady to higher in several markets. Kansas City and St. Louis show mixed trends with cattle strong for good stock and hogs varying by region.
Mr Parnell plans libel action against the Times in Irish courts while a Manchester shock of earthquake causes no casualties. Reports deny Boulanger favoring a US style constitution in France. a Vienna poison tragedy claims five children, a man poisons himself. Treasury delays hinder tariff bill report. Judge O'Brien sets Saratoga County as trial site for ex Alderman McQuaide. Yellow fever rises in Brazil amid epidemic fears. coal tar boiler explosion in Chattanooga kills Charles Falls and injures his son. Judge Barrett weighs stay for North River Sugar Refining’s dissolution case. president nominates Coleman and Stevenson to posts. A fire robbery in Amity targets a post office safe for government funds. Julia Mahar, 56, dies in Webster Parish after prolonged suffering.
Wheat trading was dull then moderately active with May and July futures edges higher. Corn rose amid strong buying, oats mixed, and lard and short ribs supported as buyers moved in. Prices closed with mixed gains in wheat, firmer pork and steady fats, while oats and rye showed uneven moves across Chicago New York Philadelphia Milwaukee markets.
February 11 Rio de Janeiro notes coffee prices with Regeles at 6,800 reis per 10 kilos and Bee at 5,300 reis. Week receipts total 02,000 bags with United States purchases 37,000 bags and 2,000 bags cleared. Stock and receipts detail unclear due to text damage.
Chicago February 11 The visible grain supply reported by the Board of Trade shows Wheat at 34,190,000 bushels down 684,000, Corn at 14,135,000 bushels up 754,000, Oats at 8,080,000 up 5,000, Rye at 1,806,000 down 2,000, and Barley plus waste at 2,237,000 down 146,000 bushels.
Wool market in St Louis remains quiet with prices for various qualities broadly unchanged. Bright medium sold around 19 to 264 cents, coarse tiers show limited activity, and finer grades reflect minimal movement in this trading session.
Market notes report dull and stronger grades for pig iron in New York with some quiet and weaker lines. Prices indicated at Straits around 21 to 25 dollars, reflecting varying quality and demand in the region.
The French Chamber of Deputies approved an additional convention related to the exchange of orders between France and counterpart entities. The move aims to clarify procedures, tighten oversight, and facilitate smoother monetary transactions across borders.
Readers urged to send their names and addresses with 2 cents to oerCo at 56 Johnston Street, New York, for a sample of the shaving soap. This brief promotion specifies the request for personal details and a small postage payment to obtain the sample.
Constable P M Connolly faced similar charges as the Criminal Court opened. Inspector McAleese ordered the costs in Connolly's case after the judge ruled hearsay evidence insufficient. The jury found not guilty for Connolly and shifted the costs to Inspector McAleese.
Judge White presides over suits by T A Baird Patterson against Marine National Bank arising from a cashier’s refusal to cash a check Patterson issued as agent for part of the Patterson estate. He alleges funds were on deposit and seeks payment for the check plus damages to his reputation after the refusal and subsequent replacement as trustee by Fidelity Title and Trust Company.
In Bryce Brothers suit against Manufacturers' Gas Company the court weighs if the gas supplier may discriminate for first contracts and shut off gas to new customers when supply runs short. Plaintiffs argue the policy harms consumers represented on the board. a preliminary injunction restraining shutoffs was granted.
Two junk dealers J Golden and M Sherman were found guilty by Judge Collier of receiving stolen goods. On Forbes street they were accused after a Fifth avenue wagon load revealed brasses and syphon couplings later tied to a Grand Lake Coal vessel theft. The men claimed to have purchased the items and were urged for mercy.
In Judge Slagte's branch of the Criminal Court the day was used to dispose of Police Gazette and Police News cases. George W. Havens of Penn avenue was tried for selling obscene literature in the News. verdict guilty. Thomas O'Brien T C Harbison and John Rodgers, other dealers, entered pleas of guilty at the end of Havens' trial.
A bulk list of cases across Common Pleas No. 1 and No. 2 names multiple plaintiffs and defendants. Entries include Welsh v. Oliver Roberts, Luebbe v. Grasser, Fisher v. Monongahela Connecting Railway, Gartside v. Pittsburg Junction Railway, Trussell v. Republic Iron Works, Strand v. Thornton, Corcoran v. Chess Cook, Saitta, Cuneo v. City of Pittsburgh, Leatman v. City, and Ehrstein v. Hassler among others with numerous individual claimants listed.
Mary Baerman was found guilty of assault and battery, fined $10 and costs. The docket includes George Oliver versus James Betler over a wagon confiscation, amid multiple divorce subpoenas and on trial matters led by Judge Ewing. The day featured expert testimony for the defense and various civil suits in progress.
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