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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Feb 14, 1891
Page
3
Reports from leading centers show a slightly improved iron market with a tightened tone due to Mahoning Shenango shutdowns and coke-region labor issues. Prices are not yet higher but bottom levels seem reached as furnacemen hold firm while raw iron earnings improve and finished iron, blooms, and billets strengthen.
A Philadelphia dispatch reports the past week showing supply and demand balanced, with active trade and firmer tone yet no price upturn. Buyers remain cautious. pig iron and bar iron markets show unsettled pricing while mills fill orders, coke strike fears in Cannellsville region influence activity and lead to varied quotations across iron products.
Inquiries for small pets of Southern origin rise while larger purchases stall due to scarce work. Miners strike in the Connellsville district threatens broader foundry activity. traders quote cash prices for various coal types and furnaces, with regional supply notes from East St. Louis and Lake Superior metals.
Cincinnati February 18 Rovers Brown and Co report a stronger market with heavier buying for Southern cake irons. Coke strikes in Connellsville affect demand as stocks fall and production climbs to post September levels. Some foresee a foundation for a heavier market, while others doubt sustained gains due to rail demand slack crops and high stocks. Charcoal irons remain weak near record-low prices.
Chicago brokers report scant activity in the Chicago market with demand focused on lake traders and few Chicago brand sales. Prices show no material advance as cheap lines have been absorbed and a coke strike fuels uncertainty about values and future moves.
The Sunday Dinner notes retail market stability with small price shifts. Butter rose 2 cents, oysters dropped, vegetables and fish see increased Lent demand while prices overall remain near last week. Poultry remains scarce and florists report steady trade as spring items appear.
Pittsburg Dispatch notes mixed cattle and hog movements with receipts across cities. Cattle trade subdued at East Liberty, while Chicago and New York show varied firmness. hogs remain strong in some regions, with steady to higher prices in St Louis and Kansas City.
The report details New York and Philadelphia wool prices with varied grades and regions, noting firm world prices and steady stock levels. It cites Texas, Montana, and Ohio sales, commentary on wool types from fine delaine to carpet wools, and includes a short note on Rudyard Kipling visiting the Mormons with a preview in tomorrow’s Dispatch.
A large timber land transaction near Ohio Pyle, 1,200 acres, sold by James W. Drape & Co to Pittsburg buyers for about 25000. New owners plan lumber related milling works and rail transit is seen as key to further development in the East End and adjacent towns. Building activity rises with multiple 4 000 to 10 000 dollar dwellings planned and dozens of lots sold in Schenley View and nearby areas.
The daily stock activity was dull with weak demand and postponed orders. Electric and Philadelphia Gas prices moved modestly, with Electric trading around 12 and closing near 1 bid. Philadelphia Gas slid from 193g to 123 as traders awaited developments in preferred stock.
Banks show abundant funds with near stable call loan rates at 6 percent and time loans at 7 percent. Clearing House exchanges reach 1 969 7016 with strong deposit growth and high balances. Money on call in New York ranges 2 to 8 percent, with last loan at 2 percent. Sterling exchange steady around 488 for 60 day bills and 4 58 for others.
Daily financial notes list bank clearings across cities including Chicago New Orleans Baltimore Philadelphia and Memphis with balances and money market rates. Discounts on New York exchange and premiums on New York drafts are noted, with percentages around 4 to 6 percent and various per cent figures.
Oil traded actively with a slight daily decline. Prices opened at 3gc and closed at 3sc bid, about 76000 barrels traded. Refined contracts held steady. averages show 73556 towns, 8356 shipments, 29602 charters. McGrew Wilson & Co quotes puts 79 cents and calls 80 1/2 cents.
National crude certificates opened at 80 1 2 cents and closed near that level amid modest activity. New York oil futures opened firm but failed to gain on West reports and drifted dull in afternoon trading. Total sales reached 141 000 barrels with price swings between 7 4 and 7 1 4 cents for spot Pennsylvania oil and similar ranges for safarcd options.
The market was near dead with heaviness at close, dampened by fears of a last minute free college measure and gold shipment worries. Barrington, Quincy dividend delays, and Sugar stock manipulation weaken sentiment while Susquehanna and Western gain. overall turnover thin with few notable advances.
Fragmentary OCR notes mention Boston Stocks and regional entities including Boston Albany and Eastern lines. References to state, company initials, and numbers appear unclear, with several garbled phrases and incomplete names or places.
A compact list of mining stock quotations includes Erat I Sebaga As So Tou four percent at 240 Hodie 125 Crown Point 170 Consolidated Californian and Virginia 480 Eurek Consali Hora iver afesican 0 Ontario 40 ver exican 210 On Ophir 300 Plymouth 216 reflecting varied prices for several firms.
New York trading shows coffee options opening steady, slipping to 20 points down, then closing unchanged with 10 points. Prices for March through September are reported as 16 10, 16 5 80 16, 16 10, and 15 65 15 70. Spot Rio markets described as dull and firm with fair cargoes at 19 cents.
Telegram reports London bar silver at 460 per ounce. New York selling price from bullion dealers at 1 004 per ounce.
In New York on February 18 the drygoods market showed a fair day with agents present and improving with gradual business gains. The market featured new offerings and steady activity amid cautious buyers and sellers.
Pall Mall Budget reports Miss Kate Marsden visiting the leper settlement near Constantinople. She saw crowded graves beneath cypress trees and entered the leper house, noting the harsh conditions and the government's harsh treatment. A devoted doctor campaigns to urge the Sultan to provide property for the afflicted.
A seals expedition into land near Fort Wadsworth ends with the creature slain by a boatman after being captured by a 14 year old boy, Albert Nichols. The seal’s body is displayed at the Quarantine dock and its skin preserved as a trophy by Alfred.
A New York Tribune essay critiques the social habit of polite falsehoods. It argues white lies serve a perpetual court with no appeal and deny genuine grievances, noting their ritual acceptance even when the truth is obvious.
The piece notes fewer housekeepers rely on luck in cooking, trusting stars and random methods. It argues educated cooks with written recipes improve outcomes, while superstition persists among the uneducated. A French joke about Brinvilliers underscores the critique of chance in bakeware.
A Lafayette avenue resident reports a sunny south facing garden in Brooklyn last week filled with thriving pansies of rich variety. The scene contrasts with common February gloom as the flowers brighten the open air.
Domestic markets show a decline in potato supply with stronger markets overall and fresh eggs finding a lower level. Grain and hay receipts are light as demand remains subdued. general groceries unchanged. Apple, cheese, dried fruits, and produce prices vary by grade, with Western New York and Michigan reports predicting little upward movement for potatoes.
Prices in the groceries department show firmness on sugars with a forecasted 2 cent per pound drop by April. Coffees and canned goods stay steady, while numerous imported and domestic items from Rio coffees to dried fruits and canned vegetables appear with varied quoted prices and packaging details.
No sales on call at the Grain Exchange. Receipts total 18 cars with mixed consignments including middlings hay cata bran wheat flour sacks of feed and two cars of male. By several lines there are 4 cars of corn 1 car of hay 3 cars of door and 1 car of hay. Cereal market features are routine and profit outlook is weak as oats and corn prices limit earnings. Track prices list several No 2 and mixed oats and corn varieties with regional price notes.
A crowded listing shows varied sugar cured products with prices for hams bacon shoulders and dried beef along with provisions. Marks include sugar cured California hams at 64 cents and dried beef items priced per unit. Local weights and packaging notes appear scattered throughout.
Chicago market news reports a strong average and higher closes across speculative commodities. May wheat rose to 97 5c with buys amid short-covering. corn oats rye egde higher on futures. Chicago cash and New York export demands supported gains as cold wave fears and North West receipts influenced trading.
A practical teacher of housekeeping rises from humble origins to aid new brides. She spends weeks in newly founded households supervising servants and policing domestic details to set up a working home machine and teach young housekeepers how to maintain it.
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