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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jan 25, 1890
Page
3
The iron and steel trade shows no sign of weakening with buyers well stocked last month, keeping markets easy. In the West buyers hold off yet large contracts for steel rails have been booked, coke remains firm, and a January lull persists as producers anticipate a prosperous year with demand near $10 per ton above 1850s prices.
Philadelphia dispatch notes cautious buyers watching for a downturn though overall tone remains firm. Prices cited include No 1 foundry at 520 260 per ton, No 2 at 8 192, and forge at 15. Steel rails strong in the West while East rail iron stays firm at 20 fob and 35 options linger. Andrew Carnegie rumored to clear about 7 million on his works this year. scrap iron accumulation cited as winter slows but demand for plate iron and steel remains steady.
Western markets show active demand for finished iron and material for cars, architecture, agriculture, and general machinery. Nails and barb wire prices begin to ease while plate, structural steel, spiegel, ferro manganese, billets, and rails remain firm. overall iron trade stays strong with regional price patterns unchanged.
A telegraphic report from St. Louis notes little change in the market with operations confined to small lots. Furnace buyers remain convinced waiting incurs no loss, while prices for coke and charcoal products, including Southern Coke and Charcoal varieties, stay firm and expectations point to a period of renewed activity.
New York figures show pig iron steady and lead quiet with domes remain steady. Tin trades firm with small increments around 505 dollars, reflecting a cautious market stance.
The Philadelphia wool market shows varied quality quotes from coarse to medium ranges with washed and unwashed lots. Prices and terms reflect regional offerings including New York and Montana districts, detailing combing and delaine products under different classifications.
A weekly market roundup notes eggs down and new South strawberries arriving. First asparagus near Diamond Market, poultry supplies improve and cheaper, ocean products ample. Price list covers meats, produce, dairy, bakery, and seafood with numerous items and per unit quotes.
Offal numbers show cattle receipts 40 head with 1 000 head in shipments and no New York orders today. Hoof receipts 1 200 head with 8 300 head in shipments as market remains active and steady with medium and good workers. Hog shipments 13 cars to New York and hogs firm at unchanged prices. Sheep receipts 1 200 head with 1 00 head in shipments and market firm.
Cattle receipts heavy in Chicago and St Louis with 11 500 head and 3 800 in hogs. prices show live cattle down about 1 6 to 2 with steers around 3 00 to 3 50 while hogs range near 3 80 to 4 10. Kansas City reports lower cattle values though volume remains strong. sheep and lambs push higher with strong demand.
New York on January 2 reports improved demand for drygoods but not broadly. Goods move to customers as soon as produced, with scarce supply reflecting the current raw cotton rise. Woolens show activity in low and medium grades, and men’s wear cloths outlook improves with continued cold weather.
The Lishman system, tested at Inglis and Wakefield near Glasgow, showed satisfactory results in reducing smoke when attached to two Lancashire boilers using Seatch coal. Compared with three identical boilers operated traditionally, the new system produced only a faint vapour while the old setup emitted dense black smoke, proving practical smoke suppression.
Auction sale announces remaining Japanese goods with street location near Suspension Bridge. Items include rig and box and miscellaneous par Mow in Now mystery goods described with garbled text. Government-related scramble mentions SuspatT Disratcu.
William Delaney reports from England France Belgium and Holland on building methods bricks sizes and costs. He notes arch types draft hours wages and the artistic approach in Paris and the higher pace and varied practices across Europe.
The market was dull and generally weak with sales at about five dollars a share. Postnoon activity failed to lift quotations and brokers blamed steep prices for the lack of orders. Investors appeared determined to hold or sell under pressure, with little appetite to move prices.
Money was plentiful with easy access to funds at 6.7 percent and currency availability improving. The market showed heavy checks and large sums flowing from the South and West while country districts near Pittsburgh faced light demand due to bad roads. A New York financier discusses silver and bi metallic plans, noting Windom’s bill and Knox's proposed silver bullion deposits for bank notes. Money on call in New York was easy at 2.31 to 3 percent. sterling rates firm at 4.80 to 4.84 for demand bills.
Financial figures from multiple cities include West Shore and Union Pacific clearings, totals for Baltimore Philadelphia and Chicago, bullion movements at Bank of England, Paris bond rates, and New York Exchange at a 40 percent discount. Money rates held steady with 6 percent on call and 7.6 percent on time loans.
The Odden field opened weak but recovered to close at 10644 after trading in a narrow range from 10535 to 10634. Thursday's clearances reached 350,000 barrels as Finnegan Downing No 3 on Ferguson farm showed potential with a 2 barrel 15 hour spurt. Nearby wells including McNall near Imperial and Loe in Butler promised, while Cable and Goehrin Farm activity shifted holdings with Wood & Yérung purchasing 100 acres for 57,000 dollars at sale.
Corrected daily by John M Gaxisy & Co. reports petroleum prices with openings around 1.06 and lows near 1.04 amid fluctuations. After early weakness the market strengthened, closing steady near 1.06 with sales noted at 37 units on the exchange.
A series of property transactions shows Charles Somers & Co selling six Morrison place lots to a Wood street businessman for £1,500 and a mortgage on Thirteenth Ward vacant property for three years at 6 percent. Black & Baird sold a Rippey Street corner lot for $9,800 to Robert Fraser. Herron & Sons listed a brick eight room house on Sycamore Street for $2,600 with monthly payments. Samuel W. Black & Co. offered 22 Oakland Square two story and mansard dwelling for about $8,000. Additional properties include a Queenwood fenced lot, Eight rooms on Nonth Street for $7,000 cash, and Forbes avenue lots to Jacob Hoch near the Hutchinson property.
Advancing readings boosted overall activity as Reading led a broad market uptick in early New York trading. The list showed widespread gains with low priced coal and transportation issues drawing attention, while caution lingered on larger coal firms and Corbin related legal tensions.
Philadelphia stocks report provides quotes from Whitney Stephenson brokers.Listed securities include Northern Pacific preferred and Pacific stocks with terse figures and exchanges noted amid a brief market snapshot.
A SEW pool forms to buy Lead Trust. Ewalt Street Bridge announces a 2 dividend. Twenty six mortgages recorded. largest 5000. Boston fire losses tally 5 841 568 with 175 455 insurance. Delaware capitalists form Piedmont Alabama industrial town 1 250 000 capital. Nebraska corn ships to Eastern States. 10000 cars at Sault Ste Marie due to snow. Northern Pacific Wisconsin Central freight offices consolidate February 1. Pittsburg and Monongahela Railroad abandons extension plan. Kishon land deal off. Chartiers Gas anticipated April dividends 6 percent or 13 cents quarterly. A Bradley & Co stove makers retire. Charles H Bradley to carry on. Cattlemen move cattle from Uinta Range to Kansas and Nebraska due to severe winter. James W DRAPE & Co in conference with Eastern capitalist on new plant.
In a Chicago North Clark Street car a young man told stories to a companion while perched above a stove. The teller laughed at his own tale until the heat became unbearable and suggested moving to the bench opposite, prompting concern from his companion about the chestnuts being roasted.
Advices from Elgin indicate stronger markets for creamery butter and a likely advance in Elgin creamery prices soon. Cheese remains firm and eggs and other produce push higher. sugar and coffee stay firm with expectations of a higher level ahead.
A gentleman and his schoolgirl sister visited a jeweler to buy a diamond ring. After a final inspection the ring vanished from the case during handling. A full shop search failed to recover it. the buyer paid full value and dismissed the loss as a misfortune. Years later a discarded steque revealed a mystery link to the old case.
A historical note credits Elizabeth Smith Miller with introducing a short skirt and Turkish trousers at Seneca Falls in March 1851. Her appearance prompted Elizabeth Stanton to adopt the style, with Amelia Bloomer later joining in, reshaping early women’s dress debates.
Grass, flour and feed sales on call at multiple exchanges. Wheat straw, hay, oats, corn and flour moved in several car lots from Pittsburg, Fort Wayne, Chicago, Baltimore and Ohio, and Lake Erie routes. Markets report improved cereal tone with light receipts and firm prices for good stock. bakers' flour strong at quota.
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