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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jan 03, 1890
Page
7
The East Liberty Stock Yards weekly wrap notes firmer cattle prices 10 to 20 cents higher with strong butcher stock demand. Sheep and lamb values hold steady with improved tone and higher outside quotes for choice lambs. Hog prices climb to top around 4.25 as supply tightens, and overall market sentiment points to higher prices ahead.
The market reports a light cattle supply with activity up and prices advancing about 10 per cwt on most grades. Prime cattle bring 1300 to 1400 pounds, good 1120 to 1400, and feeders show tentative gains while fat cows and bulls remain high. the week ends with uncertain demand despite favorable prospects for next week.
Telegraph report from Kew Yore shows 139 head with 28 carloads to England and 8 direct to home trade slaughterers. Carloads for market and calves firm, food clearance noted, prices around 20 pounds for sheep and 5 dollars for cattle. Receipts near 10,000 head with shipments totaling 6,000 head, market described as steady to firm for best beeves and native, west range, Texans and lambs. Hogs active with medium weights around 8.0 to 8.4 per 100 pounds and Yorkers pigs at various prices.
Market mood shifts as winter weather and weak North American deliveries influence prices. North West elevators report about 408,000 stocks on January contracts with 0.005 million bushels versus 0.265 million last year. lard prices ease while rib futures dip. The report notes a cold wave may bolster sentiment, with futures showing gains in wheat while spread curves and nearby months wobble amid global demand signals. receipts, shipments, and prices in New York and Minneapolis reflect cautious trading across grains, meats, and oils.
Yesterday 46 mortgages were recorded the largest 21375 dollars and the next 200 dollars. Agents Heynr A Weaver Co handled the Mrs Ella Gordon property sale to Mrs Charles Lockhart on Peon avenue near Eighth street. An official said only stockholders of record will be admitted to a Neria Mining Co meeting next week.
A sale on Liberty Street confirms a 35 000 purchase for a three story business property by James Murray Clark as an investment. Black & Baird consolidate renting with Samuel W Black Co centralizing landlord and tenant services. Stock brokers anticipate growth with 175 listed properties totaling about 150 million in capital and 200 million in bonds and stocks.
Business at the banks yesterday opened strongly with exchanges larger than soy day and about $600,000 above last year. Money was easy at 6.7 percent, deposits heavy, and currency plentiful from holiday sales. A cashier predicted tighter money until mid month then a revival in domestic investments, with many new enterprises and expansions expected.
A muffled, low volume day in the KO improvement market with weak demand and light trading. The day closed with small clearances around 2,000 barrels and little material moved, as buyers and sellers aligned for month and year end.
SPECIAL TELEGRAM REPORTS two productive flows at the Phillips well on the H Byerly farm near Great Belt, and the Greenlee No 1 on the James Welsh farm 100 feet for goat ceere last night, pumping at several barrels per day. Market notes show petrol prices opening steady then retreating with the New York close around $102.34.
A brisk real estate inquiry circulated yesterday with business houses featured. Rentals expected to surge by mid month as properties change hands. transfers include Emily Culberta heirs sale by W A Herron & Sons and parcels on Liberty Street and Fourth Avenue. Valley View lot plans and other parcels described with varied prices and lease considerations.
The report cites weak coal stocks due to poor outlook and heavy short selling, but a broad market rise as money market rigidity eases. Bond and certificate prices include Pacific Railroad bonds at 64.02 and other issues around par with varied yields.
The election yesterday from 10 to 8 disrupted business on the Stock Exchange with limited sales totaling 25 shares. Air Brake and Wheeling Gas were traded with lower price movement while Air Brake touched 110 and Wheeling Gas fell to 2, as broader market weakness stemmed from election distraction rather than conditions.
An old produce market brief notes a quiet start with cabbage surplus and poor quality, slow potatoes, weak sweet potatoes, and dairy dairy prices pressured by bad pasture. Eggs show unusual early yield while butter remains cheap. cider, beans, cheese, grapes and other staples appear with varied, often lower, quotations.
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