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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jul 19, 1889
Page
7
Report from East Liberty yards notes higher receipts than last week and a general price drop for cattle and sheep, with only select grade cattle fetching firmer values. Light butcher cattle around 12 pounds hold near last week due to scarcity, while prime steers were absent and heaviest cattle topped near 1,400 pounds.
Receipts show 1 240 head of cattle with 1 260 head for shipments, market inactive as all through consignments keep cattle from New York today. Hog receipts around 1 400 with prices near 7 10 cents per pound, market slight and tight on Philadelphia demand. steers and heifers mixed as activity remains limited.
Telegraph digest summarizes cattle and hog receipts across major markets including Kansas City Chicago and Cincinnati. Teems show varying demand with native steers steady to lower and hogs steady to higher in places while sheep and lamb receipts appear mixed.
July The Board of Managers of the Produce Exchange, having under con-
Opening activity in wheat gave way to a quiet market with a general easier tone. July moved within a 13 point range and closed slightly lower. deferreds opened higher but finished weak amid ample offerings and cautious covering. Corn early trade steady then quiet, oats and rye mixed, lard and butter steady, and cash grain markets portrayed limited activity with prices near yesterday’s levels.
July trade in drygoods shows mixed activity with several firms posting gains in staple lines. Market watchers note steady demand for textiles and groceries as inventories adjust and prices hold amid midyear adjustments.
Advertisement notes Pune American champagne Cook's imperial with an established reputation over 25 years. Mentions quarts and pints and lists Senvert Kerziexavsex & Co at 100 and 102 Markets at the corner of First Ave.
A Pittsburgh broker reports renewed strength in iron and steel, with prices rising on blooms and rails, busy mills, and shipments ahead of September. Real estate agents push to shift fitting day to May, more sites near railroads and rivers offered, and June permits show construction activity ahead of the year.
Local stocks showed some animation but overall prices declined with most favorites inching lower. Brokers sought La Noria at concessions that were refused while bids for other issues faltered and few orders remained active through the session.
There was no special feature to the local money market yesterday. The clearing house report noted ample cash in banks. Demand for money showed better, small loans were made, and exchange dealings were limited.
A terse financial roundup reports weekly bank clearings and balances for major cities. It notes declines in London reserves by 176000 and a rise in gold holdings in Paris by 250000, with various figures for New York Boston and Philadelphia.
The market showed notable animation with strong activity and bullish opening. Estimates place Wednesday clearings around 376,000 barrels and total activity likely near half a million, as New York and Old City buyers push prices higher despite possible short-term slumps.
National transit certificates opened and closed with varied prices. Trading figures show sales of 659, 3 clearances, 544,000 barrels. charters 20,704 barrels. runs 657,521 barrels. Prices ranged with highs near 85 cents and lows around half a dollar, figures terse and uncertain.
In the Thirteenth Ward several properties changed hands including a two story frame house on Hearar avenue with a mansard roof sold for 3600 and a $500 mortgage placed. another sale at Marion place brought 385 cash. Nearby Lyons tract on Madison to Monroe streets covers three acres. Market dullness weighs on stocks with cautious optimism for gas and petroleum shares as reports cite bank liquidity and a forthcoming stage statement.
Vice President Blanchard acknowledged questions on the date diversity for restoring grain rates and the through prorating plan. He suggested final acceptance depended on railroads agreeing to the trunk line adjustments before action proceeds.
The dull stock market faced intensified bear pressure with Sugar Trust leading declines to 108. New England and Atchison weakened amid dividend rumors and selling news. The drop spurred broad late-day weakness, then a rally near the close as Burlington and Northern talks buoyed sentiment. mixed results across major rails and utilities marked a volatile July session.
A July dispatch from New York explains a forthcoming bill to be introduced in December seeking the largest railroad consolidation yet discussed in the United States. It envisions merging lines from the Union Pacific to the Northern Pacific and Canadian Pacific, creating nationwide through service and vast freight and passenger capacity from Pacific ports to eastern hubs, with strong backing in Congress.
A brief, scattered price list notes green coffee firm with upward movement signals and unchanged package costs. It lists numerous commodities including Rio coffee grades, Java, Maracaibo, Mocha, Santos, Caracas peaberry, spices like cloves and allspice, sugars, syrups, evaporated fruits, raisins, London layers, cocoanuts, Persian nuts, and canned goods with assorted per unit prices and package sizes, reflecting a broad trading snapshot.
Total receipts listed for 48 cars with shipments by Pittsburg Fort Wayne and Chicago and by Pittsburg and Lake Erie and by Baltimore and Ohio. Oats hay wheat flour and rye movements noted with several car counts and regions. Shell corn scarce and firm while ear corn and oats weaken. flour steady.
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