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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jul 23, 1892
Page
3
The Valleys show limited iron and steel production with several mills idle for repairs and consolidation talks under way. Demand remains weak, prices hold mid-summer levels, and Pittsburgh and Eastern sources report steady stockpiles despite labor tensions and ongoing plant adjustments.
Rogers, Brown & Co report a week with several large contracts closed and more pending in Cincinnati. Aggregate tonnage is satisfactory though prices lag former quotes. Milling sales include mill, mottled and soft grades with limited profit for furnaces.
Rogers Brown and Merwin report a fairly active market in St Louis with numerous inquiries. Some special low prices depress puess and affect contracts for the balance of the year. Furnaces hold for short deliveries as car works and foundries face high demand and labor shortages.
There is no change in the iron market which remains unquotable in figures. It is sold at what it will bring with the aim to keep down stocks that keep increasing. Last week the Tennessee Coal and Iron Company sold 17,000 tons in one block. Some farmers are out for repairs but production proceeds.
In Philadelphia on July 22 market chatter notes inquiries for foundry irons are light and orders for small lots are active. Labor uncertainty has slowed mill grade production, but steel is still sought after at spot price across the market.
The New York metals market shows American iron at 135 to 150 per unit and copper at 165 73, with tin easing to 2055. Domestic steel and related alloys appear in lighter trading, reflecting a paused demand and steady price movement for the period.
Markets opened weak with wheat slipping but soon reversed as hot winds faded. Wheat and corn traded unevenly while provisions held an upbeat tone with pork and lard rising. futures and cash quotes reflected mixed demand and active choppy sessions on the Produce Exchange amid varied international market signals.
The market notes export volumes and futures totals across grains and goods, with rye and bran updates and rain damage cited. Prices move variedly for cash and futures across No 2 red, No 3 red, oats, sugar, butter, cheese, and pork products, reflecting mixed demand and weather impacts.
Trading on July 22 showed fair first calls but quiet later amid heat. Key items for sale included Wheeling Gas Philadelphia Company Pittsburg and Birmingham Traction Pleasant Valley consolidated Duquesne Traction Westinghouse Electric scrip and Airbrake with mixed closes and steady to firm demand for Philadelphia Company Central Traction and street railway bonds. Some speculation centered on an electric line to East Liberty and consolidations among Pittsburgh transit firms, with reports from investors noting a revival of public interest in bonds and stocks05
The Monday money market shows quiet, steady conditions with rates around 5 6 percent in Eastern markets and 2 14 percent on evolving loans. Rates for call loans vary by city, with bank clearings reported for New York, Pittsburgh, Chicago, and other centers, while exchange rates and bullion movements influence daily summaries.
J C Dick accelerates property deals across East End and Allegheny with purchases on Fifth avenue and Vine street near Meares at about 20000 and Hatfield street Lawrenceville for 8400. He adds two Allegheny plots near the park for 10000 and a 4‑lot Hazelwood block with imminent house construction.
Black and Baird sell to James Nesbitt er Haylots Nos m and 19 in Kenilworth for 1700. John F Sweeny sells to James Neabit a block on Clarisan street Kenilworth frontages 22 feet depth 100 feet to 20 foot alley. John K Ewing sells to David Grant for F G Rohrkaste a 20 by 100 lot on Grant avenue in Rohrkaste plan Tenth ward Allegheny for 230. Pea Schmidt sells lot on Lookout avenue 2 by 40 feet in Eureka place plan Oakdale for 500 to Victor E Kelley on terms.
Trade on Friday shows jackets of activity with staples steady. Wheat and corn remain dull while flour strengthens and canned goods stay buoyant amid rising east sugar and refined products.
Prices for fresh fruits vegetables and staples show mixed availability and steady to firm quotes. Commodities include blackberries raspberries currants peaches lemons California Bartlett pears cabbage onions tomatoes and potatoes with regional variations and bushel or basket pricing noted for each item.
Receipts and shipments across markets show mixed results with cattle and hogs fluctuating. Chicago and New York report varying price strength while Kansas City and Cincinnati display steadier trends for cattle and sheep with active hog trade and several thousand head moving.
The report lists receipts and shipments of wheat corn oats and soy at Minneapolis St Paul and other markets. Prices are mixed with No 2 red wheat around 79 cents per bushel and cotton steady while pork lard and butter show firmness. Several regional markets note steady or unchanged tones with steady freight rates and ongoing deliveries.
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