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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jan 31, 1891
Page
3
Reports from leading centers indicate increased inquiry for mill iron and stronger activity as manufacturers stock up for anticipated price drops. While raw iron remains buyer-favorable, a more hopeful mood prevails with some outside irons moving above 14. per ton, and Bessemer trades reported at 1563 for a large quantity.
The market across the iron trade shows weak and unsettled prices. Stocks run 400,000 tons higher than a year ago while consumption declines, with market activity dull for pig iron, har iron, skelp, and structural material. Quotations for various iron products drift lower as buyers hesitate and mills see limited demand.
Telegram from Hiemingham Alabama notes five of the Turmaces that went out of blast due to the coal miners strike will blast again, with five or six more next week. Demand for trench is improving, prices rising, furnaces repairing delays easing, and iron stocks are low. Presidents of the three largest firms have joined orders to restart all stacks at once.
Inquiry has been more active for small and medium lots, mainly Southern cake front, as many consumers cover requirements for the next months. Prices appear to have risen 29 to 50 cents per ton since the last report due to a strike affecting No. 1 foundry and No. 2 soft Southern iron. Various Southern fuels and coal types are quoted cash, with mention of several Southern furnaces gearing up. East St. Louis to St. Louis routes noted in listings.
Prices in the Chicago market continue to rule low across metal classes with Northern coke and take Superior charcoal brands attracting sales. Southern coke irons show smaller interest while overall market sentiment remains subdued due to financial stringency and reduced railroad work.
The Diamond market shelves display the first Bermuda new potatoes and Bermuda onions. Trade eases with Lent approaching. fish supplies are light but demand steady while profits remain slim. Prices hold for poultry butter and various garden produce, with detailed retail rates for meats, vegetables, fruit, and ocean products.
Frpm Pittsburg dispatch Friday Jan. cattle receipts 736 head shipments 640. Cattle shipped to New York to dig. Hogs receipts 3100 shipments 2500. Market active Philadelphia mixed heavy Yorkers 37 dollars, light Yorkers 36 dollars 70 pigs 30 dollars. Cars shipped to New York today. Sheep receipts 2000 shipments 1600. Market slow at unchanged prices.
Cincinnati reports gains in hogs and lighter bead shipments while sheep stay firm. Chicago shows steady cattle and weak hogs with large receipts. New York and Omaha note steady beef markets and active hog trade. St Louis and Kansas City reflect mixed trends with steady cattle and hogs. Buffalo notes steady cattle with higher hog prices and dull sheep and lambs.
New York market notes show mixed price shifts from January to December with small gains and losses. Trading activity totals 23,700 bags including January, with several months cited and varied price points across months.
The Cincinnati packet steamer Tae Congo will be in today while the Keystone State visited Cincinnati yesterday. The river stood at 12 feet at B o'clock and is rising and not expected to exceed 14 feet. On the river front there was hustling over merchandise, with several hundred barrels of vinegar near the edge threatening spoilage.
A flurry of property deals emerges in Pittsburgh as mayor Gourley buys a Stanton Avenue home for 3500 with possession planned by April. A Webster Street brick dwelling in Allegheny changes hands for 6800, bought by a leading North Side dressmaker. A major Liberty Street deal valued around 50000 closed November 22, awaiting public reveal. The piece highlights broker fees, market demand for stores, and a booming real estate scene with several new permits and transactions across neighborhoods.
Yesterday at the Stock Exchange the proceedings drew a large broker attendance with orders for various securities. About 2.27 shares traded, nearly all of them Electric, opening around 7?g¢ and climbing to 83g bid by close. Reports suggested 40,000 shares of preferred stock had been practically in circulation recently.
Persistent optimism pushed stock prices higher and drew buyers into the market. Traders expect the gains to be lasting, though caution remains for unexpected shifts. Electric, Luster, and other issues posted varied results as total New York trading reached 212,980 shares with notable activity in Atchison, Lackawanna, and Union Pacific.
Money market conditions were easy with fair demand and an improving outlook. Exchange figures, bank clearings, and balances for New York Boston St Louis New Orleans Philadelphia Baltimore are listed with rates and premiums.
Market activity surged with about 50,000 barrels traded as oil prices rose from a weak 72 1/2 to 75 1/4 by session end. Bullish field news, especially Wildwood district, supported gains while refined products fell slightly in Antwerp and held elsewhere. NY and National Transit figures mirror brisk activity with hefty shipments and barrels moved across markets.
On January 9 in New York the stock market opened with broader, stronger activity aided by Secretary Windom’s death, with gains led by Vanderbilt stocks, Lake Shore, Union Pacific, Missouri Pacific, and Wheeling and Lake Erie. Burlington weakened, Northern Pacific fell despite a 5 percent dividend hint, and late-session selling and treasury anxieties trimmed gains.
McCurdy pool delivers a 1000 barrels per day record as Palmer and McCurdy wells show large oil flows. Callery sees feverish interest despite uncertain prospects with the Geohing well fading from top production. Taylorstown and Murdocksville show mixed activity while Turkeyfoot leads among old pools with multiple wells producing. Chartiers reports a 24 hour 300 barrel No 7 and Mellon Kerr well at 185 barrels daily. Wildwood production declines though still active.
Philadelphia stocks closing quotations as furnished by Whitney and Stephenson brokers No 4 Fourth Avenue Members New York Stock Exchange. Pennsylvania Railroad Lehigh Navigation Northern Pacific common 38 Northern Pacific preferred 7.
Mining quotation list from New York dated January 80 includes Alice Amador 175 Amador, Colorado Central 100 Consolidated 440 California and Virginia 440 Gould and Corry 250 Hale and Norcross 140 Homestake 825 Horn Silver 290 aoe 210 Senn Obitate Soden Savage 200 Sierra Nevada January 125 Yellow Jacket 20 isolated values for various mining stocks and metals listed with prices and dates.
In Pittsburg dispatch notes light dairy receipts amid improving tone in cereals. Eggs abundant, demand good. apples and potatoes quiet due to high prices. Cheese firm. several priced items listed across fruits, vegetables, nuts, canned goods, and sugars, with sugar weakness and April tariff changes shaping stocks. Major firms and regions named, including Ohio, New York, Jamaica, and California markets.
No sales on call at the Grain Exchange today as receipts were light all week. Wheat and oats show a firmer tone while hay remains weak and slow. quotes include No 3 red wheat and various corn and oat grades, with mixed oats and malt offerings and several rail line receipts listed.
A fragmented price list shows sugar cured hams in various sizes, dried beef, bacon shoulder clear sides and bellies, and pork products. Also listed are lard refined in tierces and barrels, tin pails, fresh pork links, boneless hams, pies feet and related quantities with monetary values.
CHICAGO wheat prices fell after a nervous session with narrow fluctuations. May opened around 77¼c, fluctuated to 77¾c, and closed near 75–77c. Corn moved slowly with modest gains then losses. oats saw heavy June activity led by Hutchinson and Buckley. Pork, lard, and ribs weakened late. cash and futures quotes show mixed but softer overall tone across grains and provisions.
The report lists mixed bids and prices for farm goods and grains. Cincinnati shows firmer floor with red wheat strongest and corn steady, butter weaker. Milwaukee notes flour steady and northern wheat firm, oats quiet. Duluth tracks firm wheat open with May and No 1 readings, while general terms reference various futures months and cash prices across several commodities.
New York Wool trade shows quiet steady demand with prices unchanged amid varied grades from Philadelphia to Montana. Boston reports no strong trade but firmer fleece values and solid demand for combing, delaine, and fine wools. Michigan and territory wools show firmer selling, while California and Oregon logs reflect steady inquiries and notable Australian wool activity. Read Robert Louis Stevenson letter in tomorrow's Dispatch.
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