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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jan 21, 1890
Page
7
Sheep and lambs sell strong with higher prices than last week while hogs drift upward. Cattle demand remains light with holders resisting concessions and prices near last week’s levels, aided by a soft-weather lull. East Liberty and Chicago reports note steady to higher hogs and rising demand for heavy cattle and lard.
Telegraph reviews the week with 4 800 cattle and 12 900 cattle weekly totals and varied arrivals. Slaughter and live weight sales show prices around 3 00 to 3 50 per pound. hogs steady to higher with heavy offerings, sheep slow and lower, overall market mixed and subdued.
Drygoods trade in New York shows steady activity with demand for medium quality wool and cotton goods, prices unchanged. An accompanying medical note promotes Dr Jayne's Chants as a remedy for persistent coughs and lung weakness due to chronic illness.
Thomas Rhodes of Bakersfield California, a prominent attorney, lauds Chamberlain's Cough Remedy as the best remedy for croup and whooping cough he has ever used after 18 years of testing many cough medicines.
A short note advertises remaining offices in The Safe Deposit Company of Pittsburg at No 63 Fourth Avenue. Potential tenants are urged to call and view available bag storage or office space.
Details show 401 Smithfield Street at Fourth Avenue with a surplus of 160000 and 90000. Deposits from 1 and upward are received and allowed at four percent. The fragment notes the venue and financial figures without further context.
Chicago wheat prices fell with limited outside activity and intermarket selling. Receipts at Minneapolis and Duluth reached 500 cars, while the visible supply rose modestly, and May wheat saw additional weakting as New York orders weighed on confidence.
Light trading left the stock market modestly active with an uptick sentiment. Philadelphia Gas led demand with limited supply while Pleasant Valley Railway, Central Traction and La Noria showed notable quotes. Pleasant Valley closed at 23 bid, Central Traction at 27 bid, La Noria at 118 bid, and Switch and digual sed and Electric were only modestly traded.
The report shows money demand brisk yet steady with loan activity. Clearing House figures list ex change and currency in fair supply. Henry Clewn & Co comments that currency flow will continue to aid Wall Street while interior movements slow, with money conditions favorable though slower, and rates at 6 percent on call and 7.8 percent on time loans.
Oil prices rose by two cents with a tame opening and a later rally led by New York and Oil City buyers. The day showed a bull market vibe, with a late wind up steady as refiners abroad fell while Dobbs & McClure well at Ingram shows promising signs amid Saturday clearances at 18 percent.
Special telegram reports poor results in Washington Field oil exploration. Mackwell well showed nothing in Gordon sand. Gants sands yield only traces. Franklin Oil's Simeon Wilson farm well dry. Ganaz and 60 footlands unproductive. Wright wildcat near Thompsonville drilled with 40 quarts but no response. Robbins Wilson No 2 at Injan suffers water intrusion and will be reeled down and cased.
Butler County notes show Humphrey well connected to pipeline and producing 10 barrels in 3 hours. James and Hays farm well shot again. Nesbit farm Golden 4 Co well yields 100 barrels per day. Phillips Douthett farm maintains 2 barrels per hour from sand top.
The Pittsburgh area sees multiple property transactions with significant sums. Transactions include Wilkins estate in Wilkinsburg sold for 700 dollars, Blair estate lot 178 in Ward 24x100 for Reed B. Coyle Co., and a new brick dwelling on McKee Place with a 6000 price. Kee Place opening from Fifth to Ward and Ward street renaming to Frazier boost values. Oakland sale of 28 Coltart Square highlights ongoing market activity.
New York stock activity shows persistent firm undertone amid general apathy. Heavy dealings center on Missouri Pacific and coal stocks while the Inter-State Association rumors and Chicago-area Granger influence push certain shares down.
Fragmentary stock quotes from the Philadelphia market Reuters style list brokers Whitney and Stephenson and several major issues including Lehigh, Northern Pacific, and Pittsburgh Western. The readable items indicate daily price activity at New York Stock Exchange and related exchanges with brief notations.
The report notes Franklin B Gowen was insured by two policies of five thousand dollars each. Wilkinsburg streets are deeply dug hindering deliveries. Real estate deals near closure and a new National Electric Company building in Wilkinsburg will employ twenty five. The German Fire Insurance Company shows rising earnings and growing business. Real estate brokers discuss exchange restrictions. J J Vanprecnirr plans tearing down an old building for a new site. Pennsylvania Railroad reports weekly coal and coke movement totaling 331128 tons east of Pittsburg and Erie. Prize awarded for corn yield per acre to Z J Drake of Marlboro County South Carolina. Weekly anthracite coal shipments total 8500 tons with year to date 841800 tons, down from last year.
January 2 market notes show egg prices weak with strong demand for large lots, poultry down due to West arrivals, and cheap dressed chicken versus beef. Potatoes steady, apples firm, and onions scarce. Listings include burrenr creamery Ohio dairy, various fruits and vegetables with prices for crabs, cranberries, geese, turkeys, assorted grasses, fats, and grains.
The Weekly Financial Circular notes light weekly business in coffee with narrow price fluctuations and little news from Brazil. Demand remains tepid, outsiders show little interest, but undertone is relatively firm as bulls hold prices steady while traders await clearer market animation.
No sales on call at the Grain Exchange today. Improved tone in deal and choice grades for cereals. Receipts bulletin shows several cars: Pittsuburg Fort Wayne Chi lines report 2 feed cars 1 bran 2 corn 7 bay 1 rye 2 barley malt 2 wheat 1 osts 1 oats. Baltimore and Ohio 1 oats car. further cars from Pittsburg Cincinnati and others.
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