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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jan 18, 1890
Page
3
The market shows no revival after the holidays with prices held steady and little movement. Mills are stocked for one to two months or more, buyers delaying fresh orders. Bessemer iron prices remain supported by limited ore supplies while steel nails have risen. Ore movement is active, signaling possible sustained demand despite speculative risk.
A dispatch from New York reports no clear shift in iron and steel markets as of January 1. Demand remains strong in the North and nails and bar iron are active, with Southern buyers under pressure to concede lower prices for large lots. Some Western buyers look for contracts later in the year if concessions appear, while furnace production runs at capacity and new furnaces are planned. Prices for pig iron and related metals show varied movement across regions.
The Dispatch reports Philadelphia sees a rise in blast furnaces with 333 now in operation and higher weekly output than in July. Wages and mill-hands shortages press prices as steel works in Illinois and Pennsylvania expand. Andrew Carnegie employs about 17,000 in his iron works in the state.
The Chicago market shows steady demand for meat and produce with smaller buyers holding cautious purchases. March futures extend, Lake strong, and producers expect continued activity. about 2,000 tons of tin steel were contracted as one fifth of projected output, signaling robust demand for steel.
Telegram from Cincinnati reports Rogem, Brown & Co handling a good volume of business. The brief item notes steady activity and continued engagement for the firm in the market.
Market reports show little change in goods over the week with weather depressing activity. Eggs, butter, and poultry prices ease while other farm items hold steady. fresh radishes and beans arrive as supply lines shift. Meat prices range with tenderloin 2.2 to 2.3 cents, beef cuts lower, and varied per pound rates for pork and veal. fruits and vegetables list broad per half peck, dozen, or quart prices. Ocean and inland fish markets reflect frozen stock reliance, with limited fresh shad from the East.
A Philadelphia Inquirer account on Chestnut Street describes a drunken man and a dog tangled by a rope. The dog, resembling a pointer, repeatedly pulls at the rope to relieve itself from strangling pressure, earning onlookers’ praise for animal ingenuity and perseverance.
The Don Cameron Club selects Ajax Jones Brondax Smith James Delphey and Richard Wupsikian to attend the Central Relief Bureau convention in Washington City on February 3 for Afro American progress. Jones criticizes the Chicago Afro American League while noting a local lease and about 50 members.
Mrs. Sarah Hammil proprietress of a speak-easy on Thirty third street did not appear for a hearing before Magistrate yesterday. She arrived late after waiting an hour and a half. witnesses were dismissed and the judge declared her bail forfeited. Bondsman Louis Yeager for Frauenheim Vilsack posted $1,000.
The following gentlemen have been asked to officiate as ushers at the organ recital in Free Mason's Hall on the evening of the 30th: James B. McKean, George A. Howe, William B. D. Corcoran, Charles Holmes, Andrew J. Lawrence, Harry W. Dunlap and John D. Kramer. Official notification issued by HE Haines, Secretary. Note: masons and their families will be present.
Up to yesterday evening only 1 119 books and certificates of deposit of the suspended Lawrence Bank had been handed in to the assignees leaving about 1 400 outstanding. This carelessness on the part of depositors delays final accounting. Also reports of a 25 000 East End deal plus several large property sales and a proposed McKeesport bridge. A Detroit fireman wins 10 000 in a negligence case. Coal, coke and gas notes on regional trends and a Texas bridge contract detail municipal electrification plans in Indianapolis.
The local stock market opened with an improving tendency and held firm to close, with 511 shares traded. Active issues included Philadelphia Gas, Chartiers Gas, Luster and Central Traction. Philadelphia Gas rose to 2 at first call and closed near 31 bid.
Banks reported moderate demand and ample money yesterday with rates around 6.7 percent. Deposits held up while outflows were limited, and cash trends pointed to greater ease. New York exchanges neared 2.466 million pounds with balances around 256 thousand dollars.
The oil market opened slowly and stayed quiet, with the first sale after a long pause. Prices drifted, closing near the day’s high, while refined crude eased and clearing barrels reached about 871,000. Field news was scarce as operators waited for market roads to settle.
Property deals listed across wards show various sales: Hartje Bros buy Lot 20x100 on Wood Street for 20 000 from Mra Juliet B English estate. A M Fetzer buys Lot 20x100 in Garrison plan for 450. Ben Darlington sells to Joseph Sipper a 20x100 lot on Butler Street for 2540? Alles Bailey sell to E H Meyers a 300 foot frontage lot bounded by Wick Davis Colwell Streets for 5 000. James W Drape Co. sells multiple parcels including house and lot on Seventeen Street for 4 000 cash and other properties in Edgewood Oakland and Oliver Station with mortgages. Jamaon Dickie sells lot on Edwin Street to Thomas P Marshall for 6 780. George F Kinn sells a six room brick on Fifth Avenue to Mrs Ellen Gordon for 16 00 cash. Linden Club purchase Linden Avenue lot for 2 700. Edward Robin to George L McVoy a Lloyd Circle lot for 1 000 cash plus mortgage at 5 percent.
January 17 report shows reduced trading with overall small daily totals and little price movement. Lackawanna and Reading led activity while coal stocks and low priced specialties drew interest. bears largely on the sidelines, with some short covering and scattered long buying.
Traders noted pressure on sugar and a cautious tone as Wisconsin Central and Northern lines nudged higher. Railroad bonds showed steadier activity with Mobile and Ohio and Milwaukee routes contributing solid gains while oils slipped slightly. Prices and names reflect a mixed day on the New York market with cautious optimism nationwide.
A Boston correspondent notes copper stocks show a boom with week transactions the largest in 12 months and prices rising. The Atlantic Mining Company sets a 150 per share value payable in February as copper supply reportedly tight into January.
A trio linked to Allegheny figures now resides at Onset Bay Masa with a spiritualist doctor known as James Frazier. Mrs Barnard, once Miss Davenport of Massachusetts, leads a cottage home where the doctor practices his craft while Barnard, thirty years her senior, remains a silent partner in the affair that once drew local comment.
Weather slows oil field transport as freezing conditions worsen roads. If cold persists for a week, conditions may improve but current hauling remains costly, possibly delaying work by a month or two and hindering railroad reach.
A dull wheat session with firmer opening failing to sustain prices. Shorts covered as May sales appeared. overall values eased and then steadied. Oats unchanged. cash and futures mixed with light demand and modest offerings. Trading quiet in corn and provisions with light shipping activity and steady to soft prices.
The report lists fiber grades and prices such as coarse and fine waved silks, washed and unwashed combing delaine, tub washed goods, and territorial stock ranges. States mentioned include Pennsylvania Ohio West Virginia Indiana Montana and others with price per yard measures in cents.
January 17 trade notes indicate a conservative market with mainly moderate transactions and duplicate prices. Cotton goods show strength especially in coarse yarn while production is curtailed by mill hand sickness and cotton prices continue to rise.
Two wooden plugs sealed an abandoned well on the Hickman Farm near Canonsburg. While two men were atop the 89 foot derrick to replace ropes, an explosion from gas under the plugs killed tool dresser John Moore instantly. His companion survived with injuries and mud and sand blinded him briefly.
A fragmented price list shows grocery items from beans to evaporated fruits. It records Rio de Janeiro and Maracaibo markets with prices for roasted coffee, Java, Mocha, cherries, raisins, peaberries, and canned goods, plus bulk price notes and barrel quantities.
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