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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jan 29, 1892
Page
7
Drilling in the Harmony McDonald area pushes production as old wells churn oil, with operators awaiting price signals. Devonian and related wells near McDonald, Southwest McCurdy, and Willow Grove show activity. outside firms eye holdings until prices rise.
The report notes no significant movement on the board with February figures showing small ranges. National Transit certificates and clearances are listed with minimal shifts, while Pennsylvanian and Lina oil show few trades and overall quiet session.
Cattle receipts 115 head with 1491 head shipped yesterday in slow market. Live hog shipments 1450 head with 1 60 head shipped today. Sheep receipts 110 head with 800 head shipped, market firm at yesterday's prices. Cattle and hogs to New York. four cars of hoes shipped to New York.
Receipts across Chicago and Cincinnati modules indicate active but uneven trading. Steers and cows varied to higher or lower bids. hogs at Cincinnati softer while New York and other hubs report weak to steady dressed meat values. Sheep and calves show modest demand with mixed weight classes and prices.
Chicago reports a strong day across grains with corn rallying after a firm start in wheat. May corn reached higher levels as short-covering and foreign buying supported markets. oats and pork and lard also advanced while wheat moved up on demand for future delivery.
The peninsula near Pittsburgh draws investor interest as Neville Island properties change hands. Deals rise with ground secured for four warehouse blocks and more planned developments. Market momentum grows on projected rapid transit and job growth, signaling rising values and stronger demand for housing and commercial space.
Banks reported strong activity with higher monthly clearings and robust loan demand. The weal 6 percent rate was kept and land balances stood near 419 thousand. bankers credit stronger totals will be examined once transactions are fully tallied.
The item notes surplus funds as not worrisome and mentions upcoming spring trade opening. It records New York money on call at easy rates, sterling exchange, and closing bond quotations. Bank clearings and balances are listed for several cities, with rates and exchange figures across the financial markets.
Investors moved cautiously with five stocks in focus and a bearish mood but no major declines. Philadelphia Gas weakened while Birmingham and Dauquesne rose on light volumes. Switch and Signal surged on news of a large New York Central contract. Bond activity showed small varied bids across Duquesne and Birmingham issues.
A New York market report notes broad but spotty activity with bears probing prices yet failing to depress values. Manhattan rose to around 119 with a gain near 12 percent, while Lackawanna slipped then recovered, and Grangers Goulds and Northern Pacific preferred led gains toward session close.
A list of mining stock quotes includes Alice 155, Aspen 300, Best & Balcher 200, Chollar 120, Crown Point 125, Consolidated California and Virginia 50, Deadwood T 200, Eureka Consolidated 40, Gould & Curry 25, Hale & Norcross 10, Homestake 1250, Horn Silver a, Tron Silver 40, Mexican 190, Ontario 4300, Ophir 3%, Plymouth 10, Sierra Nevada 17, Standard 1135, Union Converted 150, Yellowjacket 110.
London silver prices move higher by 4d to 42 per ounce, with New York dealers quoting 91440 per ounce as the London market strengthens.
New York Jan 28 The Ion Age reports on price cuts by Thomas Iron Company cutting foundry iron to 17 50 for No 1 and 16 for No 2 with 10000 tons booked. Northern and Southern iron markets show quiet demand as prices vary across No 1 No 7 and gray forge. Pacific Mail vessel contracts boost steel demand with two big orders split between Eastern Pennsylvania and a Pittsburgh producer. Open hearth steel is singled out in bridge specs, stirring controversy over allowed methods. Steel rails show little new business though planned girders may rise with Brooklyn horse car to electric line conversions.
The Northwestern Miller reports Minneapolis mills ground 137 600 barrels of flour last week, the lowest since September, down 35 455 from the prior week due to three idle mills. Production compares with 141 300 in the previous year and 117 740 two years earlier. Fifteen mills operated on Wednesday, about 25 000 barrels per day, with two smaller mills expected to shut for three to four weeks. A week of some improvement follows a period of weak activity.
Trade reports show turpentine largely steady or quiet across several firms led by Savangan Turpentine at 314 and New York rosin holding steady around 105. Rosin activity remains firm in Charleston and other markets with strained grades near 100 to 110 and higher options noted for yellow rosin around 1.90.
Newton January 23 Coffee options opened steady with select futures quoted around 12.75 to 13. May and June calls noted, Rio spot prices firm with No 7 grain quality at 13 cents. Antimony market news mentions Rio car movements and firm Rio trading with No 7 at yc.
The Drygoods Market in New York reports modest improvement in demand and increased inquiry from buyers. However, pane island trade awaits developments and the absence of Southern buyers weighs on local distribution as implications unfold.
Iron shows moderate demand in New York on January 28 with American 35 Sig? TB reading. Copper remains quiet and weak near 16.64 dollars. Lema steady at 425g 30 domestically. Tin stays quiet and steady in Straits with Gus 70.
Depot master Butler of Union station hosted a house warming on North Highland avenue Wednesday evening. An employee group from the depot presented him with a handsome sideboard and dressing case. Several boys attended and the gathering was pleasant.
An old advertisement touts Carter's Little Liver Pills as a cure for sick headache. The copy repeats the product name and references generic relief claims with fragmented phrasing.
Reports from January 2 show egg prices advancing to per dozen with very active markets. Dressed poultry are scarce and firm with upward price pressure. live poultry is in fair supply but slow. bananas, frost-bitten stock, and oranges influence fruit and produce pricing. beeswax, cheese, and maple products are noted with assorted regional and national items listed.
The week shows only fair movement in groceries with trade off from last period. Sugars ease lower while coffee remains strong and rice prices move up. Canned goods stay firm amid mixed notes on various staples and commodities.
Grain exchange notes show two cars bran at 1700 spot, shell corn sample at 4c, two cars No 2 yellow corn at 500 for 5 days and 490 for 20 days, bran at 1700 for 5 days. Rail lines list ear corn oats malt flour and hay carloads. Cereal market steady with wheat oats and millfeed steady to lower. ear corn eases slightly.
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