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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jul 19, 1890
Page
3
Markets show typical midsummer quiet with light demand and many mills closed for repairs. Prices hold with some holders willing to concede, while brokers note strong underlying confidence. Rails demand remains solid at Edgar Thomson, with daily output rising toward 1,500 tons after a new furnace comes online.
Telegran to the Philadelphia reports Pennsylvania pig iron makers celebrate the Pennsylvania Railroad raise in freight rates on Southern iron. Prices stabilize for No 1 foundry iron at 18 dollars per ton, with ferrous products and refined sheets showing varied but firmer quotes amid supply tightness and labor concerns.
Birmingham Alabama July 1 The labor troubles in the south are settled and pig iron demand is active. Most furnaces are back to blast with Eureka furnaces ready soon. District output this week nears May levels. several furnaces relined and repairs done. Prices up about 3 cents per ton from May June. July delivery prices hold and August trend shows a 5 cent rise. Small orders from Western markets arrive as stocks stay tight.
The dispatch notes a quiet midsummer market with few local buyers. Purchases shrink to small lots for immediate consumption while both buyers and sellers pause for a temporary truce, signaling a likely uptick in activity with a forthcoming heavy fall trade.
Prices have held firm despite a generally easy tone in the iron market, with strong activity. Large Southern companies show heavy orders for months ahead, while some smaller firms seek bargains amid varying conditions.
Market reports show mixed results with wheat firm in Philadelphia and Milwaukee, corn rising in St. Louis, oats steady, and refined goods steady. Prices vary by grade with futures and nearby months quoted. notable activity in oats and lard, while Molasses and sugar substitutes see slow turnover in several hubs.
July 1 market notes report no active buying but growing order sizes and steady buyer arrival. Demand exists in cotton and woolen goods with the main market tougher to gauge as activity increases.
An advertisement touts Carter's Little Liver Pills as a remedy for sick headache, claiming quick relief and improved wellbeing through their liver-based formula. The copy emphasizes potency and consumer trust in a familiar brand.
A longtime Fifth Avenue real estate figure urges investors to take advantage of the July August market lull. He cites recent purchases, rising autumn values, and ongoing development from California Avenue to Southside projects as evidence of a bullish real estate climate.
The local stock market shows little variation with 410 shares traded and broad inaction. Electric and Pittsburgh Traction led small advances while Chartiers Gas fell. overall most listings were neglected. New York totals reached 61,365 shares with notable moves in Delaware Lackawanna and Western 6250 and Hocking Valley 6093.
The oil market edged higher yesterday with improved trading. Pittsburg and Oil City were buyers, Bradford inactive, while New York provided most of the strength. Opening at 69 and closing around 60 1 2, the day gained about 40 points with Thursday clearances at 52,000 barrels.
Delegates from the nation’s oil exchanges meet in New York to discuss certifying Lima district output and the impact on revival. The 1885 NY Stock and Petroleum Exchange volume totaled 12,185,000 barrels, while 1888 six months sales drop to 102,788,000 compared with 277,048,000 last year. Critics say Buckeye listing may push speculative burden onto the public as Standard Oil defends carrying charges.
A Western Union building fire in New York caused an estimated near 1 million dollar loss and a 4 cent drop in Western Union stock before 2:30 PM. Bond markets rose and fell on export demand and Argentine, Uruguayan securities, with mixed effects on American shares. Traders noted a dull day with few outside orders and minimal exchange disruption despite the blaze.
Fragmented OCR lists several mining stocks and figures including Silver, Iron, and Sierra Nevada with varied numbers. The readability is poor and no clear event or outcome is established.
The dispatch reports July 18 1890 from Pittsburgh. Cattle receipts 2569 head with1000 through consignments and no cattle shipped to New York. hog receipts 2100 head with shipments of 1900 and market very dull with all grades around 7 dollars. sheep receipts 600 head with market slow at yesterday's prices.
The New York crude market opened strong with spot bids at 84 1 4 cents and August at 84 0 5, then fell back as trading progressed. By close, prices slid with spot around 84 cents and August near 83 1 2 cents, total volume about 150000 barrels with various clearances and sales reported.
New York July 18 fire at the Western Union building disrupted outside communication and left brokers with limited access to the market. Trading at the Stock Exchange was subdued with minor movements. Sugar Refineries showed a sharp late rise while other stocks moved only fractions. Bulls expect relief before September 1 as silver law impacts fade into the background.
Local bankers report good conditions with abundant funds and steady rates around 6 1/7 percent on call and time loans. Exchanges total 2 2 70 545 64 and balances 356 189 17 while money on call in New York remained easy at 3 1/2 to 3 3/4 percent. prime mercantile paper about 6 1/2.
The telegraphic market report cites Chicago and New York cattle receipts near 11 000 and 4 900 head with bids around 40 to 48 per head, while hogs in Kansas City and Buffalo rise modestly. Sheep and lambs show dull to steady demand, with prices for veals and dressed beef marking uneven moves across regions.
Martin Houck killed his wife Louise three weeks after their marriage in Baltimore. Jealousy drove the fatal action as Louise, returning from her sister’s, refused to reunite with him. after she declined, Houck shot her three times and walked away, leaving her in the hallway.
A 1980 letter to C W Dahlinger shows Colonel Thomas A. Stone offering about 100 volumes of official War of the Rebellion records to Carnegie Library via the Allegheny Public Library Committee Pirrspoura. Stone notes the work is the only complete history and will supply remaining volumes as they arrive.
A notable Alleghenian recalls a mass meeting in the parks where President Harrison’s letter of regrets was read. He quotes Tom remarking about Baby McKee’s nurse not being able to get away during the event.
Domestic markets report improved vegetable supply with weaker overall prices. Cereals show strength while oats rise. sugars fall and coffees firm. Cheese remains steady with potential uptick after cheese in cold storage. butter steady. eggs scarce. berries in short supply. lemons higher. tropical fruits firm. fruits and vegetables trading at varied prices across regions.
The report describes lower sugar values and soft demand for the season, while coffee and canned fruits hold firm. It lists numerous bulk and branded commodities including Rio coffees, Maracaibo, Santos, and various dried fruits, nuts, and canned goods with price ranges and line items.
Retail markets show little variation from last Saturday as home grown tomatoes potatoes and roasting ears appear. Supplies of apples are scarce and high while citrus and tropical fruits remain in demand. eggs unpriced and butter steady.]]>
River men deserted boats to seek cool resorts as August approaches when trade is to reopen. Monon packets operated, coal barges tied below for higher water, river level rose due to local rains and dam raising. At Davis Island the level was 11 feet 6 inches above the dam and 2 feet 4 inches below, indicating the Thursday night storm had limited impact downstream.
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