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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jan 30, 1892
Page
3
The weekly iron and steel trade shows subdued activity with prices easing or flat across Bessemer and gray forge products. Lake Superior ore gains push cost to produce steel, while demand remains weak and buyers hold back. rail trades look steadier though overall sentiment stays cautious.
In Jemingham Bresarsenaw Jan 29 Special. Birmingham district iron inquiries improve and demand for railroad irons grows. Local brokers report stronger inquiries than last week with expectations of higher consumption, despite no price rise. Some furnaces operate below current prices as cold snap recovery resumes. Prices cited: No 1 foundry 1200, No 2 foundry 1160, No 3 foundry 1050, gray forge 7.
The Chicago market remains practically the same as last report with several large deals in Southern Iran during the week and many smaller orders still pending. Rogers and Brown noted no change as activity continues in the section.
Reports show activity in pig iron markets and mortar work while Ni and South coke bookings continue. Inventories wrap for the year with no change in charcoal and coke pricing, keeping prices firm amid ongoing production activity.
Rogers Brown & Co report no new feature in the pig iron market. Conditions stay the same as a week ago with buyers cautious but not due to fears of lower prices. Producers remain confident, output runs at maximum, and demand across stove foundries machinery and rolling mills stays strong despite limited price advances.
In St Louis on January 30 Rogers Brown and Mereham report no new features in the iron market. Demand remains good with several unlaced orders this month. Prices are near cost and unlikely to rise while production stays high. Carwheel iron demand is light and charcoal foundry iron shows slight improvement.
The report notes iron steady at 17 dollars per ton and copper subdued with aid work figures around 1062 pounds. Lead remains quiet and firm at 32.3 pence per ounce, while tin is dull yet steady in Straits markets.
Poultry eggs and dairy show an uptick as extreme cold raises costs and retail prices. Fresh eyes at Diamond market rise 2c per dozen. creamery butter and country roll butter lift slightly. Fruit and veg stalls report slow trade with steady or near-unchanged prices. fish and oysters soft with limited frozen stock on offer.
Moderate demand for broadcloth and print cloths persists in New York. Buyers stay cautious, seeking quick delivery and minimal purchases. Confidence remains despite scarcity of high grade goods, while woolen clothing trades stay fair to strong, with all wool fabrics showing notable strength.
In St. Louis a Melville W. Fuller Club organized to advocate nominating Chief Justice Melville W. Fuller for the presidency. Colonel El Deroy and Judge James McCaffrey lead with 14 members and plan a fundraising ball at Stanley's as momentum builds under the watch word Fuller against field.
Real estate notes show Nos. 32 and 34 Cherry alley near Seventh avenue sold by Black & Baird to L H Smith who will start an eight story warehouse in spring. Nineteenth Ward development visible with 30 new or near finished homes along Euclid Beatty St Clair Mellon avenues priced 3000 to 5000.
Stocks on Change-All the Street Mailways led gains with new buying orders and improving bids. Central Traction rose to 2714 as Citizens, Pittsburg and Pleasant Valley gained, and Philadelphia Gas fell back after a large sale to B Co. Traders cited confidence despite mixed action from Whitney & Stephenson amid rumors of a New York Central contract being incorrect.
In a subdued meeting the Chartiers Valley Gas Company bid activity drew little enthusiasm. First call prices showed several bids across Traction, Airbrake, Underground Cable and related assets, with second and third calls listing further offers. Complete bids and offers followed these rounds.
The stock market shows firm temper with professional traders pressing gains but sustaining overall stability. Denver and Rio Grande preferred surges on reports of possible through-line integration while Distillers' weakens. Total sales reach 390,961 shares with notable activity in Louisville and Nashville, Manhattan, Edison Electric, and Lackawanna. bonds also trade firmer.
A fragmented list of stock closings and market references includes names such as Am Alg Co Maine Central Bell Telephone Boston Land Co Rutland Water Power and Centennial Min. The text resembles a late 19th century stock page with scattered company names and prices, interspersed with unclear notations and city references.
Bar silver in London 4 24 per ounce and New York dealers price of silver 9 13 0 per ounce reflect market quotes as of January 29 in this special report from New York.
Boston bankers foresee reduced interest on deposits as several banks announce rate cuts. The Exchange National Bank will drop balances from 3 percent to 4 percent and other Boston lenders plan similar reductions beginning February L. Money on call in New York eased to 1 1/2 to 2 percent, with mercantile paper at 4 1/2. Sterling exchange remains steady around 4.64.
The report lists bank clearings and balances for New York Boston Chicago and other cities. It notes varied exchange rates on New York, Chicago, and St Louis and shows sums like New York clearings $193,972,440 with balances $7,766,755.
Receipts and shipments report at Liberty and other yards on January 29. Cattle totals show 1029 head, hogs 4900, sheep 600, with market activity varying by region. Chicago and New York desks list mixed, with cattle steady to lower, hogs up and down, and sheep unsettled. prices given for primes, cows, and stockers across several markets.
In New York the coffee options market stayed steady with small gains noted across several contracts. Trading volume reached 29,200 bags as notices from January through October showed prices around 12.65 to 12.95 per unit amid a firm spot market in Baltimore with fair demand and mixed grades.
Wool markets from New York to Oregon report quiet, steady movement with bright wools firm and lighter demand for other grades. Receipts reach 9200 pounds in Texas and St Louis, with total U S sales near 3 3 million pounds including foreign grades and carpet stock. pulled wools and onwashed varieties see steady or dull conditions across Ohio Michigan and California.
Fresh meat and eggs hold firm while shell corn weakens amid wintry weather. Dressed poultry and dairy products stay steady as vegetables remain heavy and bananas overstocked. oranges quiet but prices firm. Cabbage dull and fruit and canned goods show sluggish movement with higher molasses and syrup noted.
A single sale on call at the Grain Exchange featured a carload of choice clover hay at 190. Receipts briefed, including cars from Pittsburg Fort Wayne Chicago Railway and others with oats hay corn barley wheat flour and malt. Prices showed oats and wheat steady to weaker, millfeed down, hay slightly lower from week start. dealers add a store premium.
Chicago and New York markets show a bearish tilt with wheat prices drifting, corn supported by demand from New York and sea trade revival. Export optimism, fluctuating futures, and varied cash quotes across zones reflect a volatile session as hogs and lard offer mixed signals.
Market report shows wheat prices mixed across cities with No 1 Northern and No 2 Northern quotes. Cash bids steady to higher in Minneapolis and Duluth while Kansas City reports stronger corn and steady butter and eggs.
Regional market notes show turpentine and rosin holding firm with prices steady or slightly moved. References include New York and Savannah quotes for spirits and rosin, plus crude turpentine and yellow dip values. A mention notes forthcoming discussion of prophetic dreams by Dr. William A. Hammond in THE DISPATCH tomorrow.
J L McHish a German born draughtsman at Houston and Texas Central Listwar office in Houstons was deemed mentally unsound by the county court on lunacy proceedings. He had long debated that all European rulers would be dethroned and that he must become the dictator of the continent.
Repwoop City Can January 23 Judge Buck denies divorce petition by Richard Tenbroeck the noted turfman who accuses his wife of desertion. She denies the charge claiming she left after being compelled by crucify forces.
One enjoys a pleasant laxative remedy that promptly cleanses the system. It dispels colds headaches and fevers and a constipation. Syrup of Figs is the only remedy of its kind proven to taste good and be agreeable to the stomach. It is sold in 50c and 1 bottles by leading druggists and cannot be substituted.
An 19th century advertisement touts Cactus Blood Cure as superior to sarsaparilla, claiming it tones the system, increases appetite, cures dyspepsia and various digestive and liver kidney issues, skin diseases, and violent blood troubles with immediate, permanent results. Sold by Joseph Fleming & Son, druggists, 42 Market Street, Pittsburg.
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