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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jun 11, 1890
Page
7
The Minneapolis Miller notes a declining wheat market with good growing conditions abroad and weak flour prices ahead. In Western Pennsylvania, cattle dealers warn livestock dependence on the West may erode regional farming, while city hardware firms report unprecedented demand and tight margins as trade stays brisk.
The June 1990 market bulletin notes cattle receipts 240 head dull with no cattle shipped to New today. Hog receipts 1000 head on 1150 shipped. market steady with hogs feared. Sheep receipts 2400 head, 2200 market slow, prices near yesterday. New York beef duties steady. calves and lambs mixed with dull trade and lower prices. Chicago and St Louis show varied cattle and hog activity with mixed demand and price movements.
The eighth annual meeting of the Pittsburg Grain and Flour Exchange reported a slight membership drop but renewed activity. President Maconique thanked the daily press for reliable market reporting. The treasury showed a small deficit, blamed on streetcar changes, while overall business rose 7 percent from last year with increases in flour wheat rye and millfeed amid some declines in barley and wool.
Wool trade shows no change as stocks in dealers’ hands stay small. Prices are steady across regions with Ohio fleeces selling at specific marks and Michigan and California lines noted. Pulled wools and washed delaines remain in steady demand, while territory shifts and quiet California Oregon activity are observed.
Chicago markets show lower wheat and corn prices after an initial rise on large ocean-bound supplies. Trading stays light as traders await the government report with demand easing and futures slipping across the board. Pork and lard lack momentum while short ribs remain brisk and prices drift lower.
June 10 report notes steady demand for staples with improving prospects for new specialties. Ginghams sell well, several inquiries for hosiery cottons, woolen goods in fair demand, but wool fabrics show weak sales. prices show modest gains in prints.
A brief note on Dr Fllnt's remedy and its sedative influence over the nervous system cited as an effective treatment for control and cure.
A syndicate has quietly purchased 300 to 400 acres in the Twenty third ward near Brown station along the Baltimore and Ohio line. Purchases include J J Steer Ira M Burclffield Hill Burgwin John McElroy and E and H Walker among others. The group seeks a bridge to shorten Homestead to the Court House, connect via Greenfield Hazelwood and Saline avenues, and may influence a Second Avenue Electric Railway plan. Prices range from 1000 to 2500 per acre.
Trading focused on first call with limited second and third session activity. Citizens' Traction held steady at 234 bid while Pleasant Valley rose modestly to close. Central declined slightly. Electric showed notable improvement as bids fluctuated and insiders advised holding positions.
The report notes no change in the local money situation with cash ample for seasonally liberal demand. Clerical business and deposits stay active while general trade remains steady. markets show easy money on call in New York and firm sterling.
Oil opened strong at 2 and rose to 823 before easing to 9034 on selling, then recovered to finish at 9134. Pipeline impact was muted as stocks to June 10 show 137,434 barrels. Bellovernona- Company makes gas progress, while refinery quotes and market notes appear mixed with price hints from Pittburgh Exchange and McGraw figures.
O11 Markets reports petrol prices fluctuating in New York with spot and June options showing initial gains before easing. Trading opened with modest rises and closed lower as 12 000 barrels moved, amid unclear clearance notes and scattered ship activity.
The Smith No. 1 in Robinson township has been shot and now yields ten barrels of oil. Oil operators are exerting efforts to acquire more acreage, occupying farms as they drill test wells. One on the Noble farm in the west end of the on-row area is planned while additional wells are being drilled along Montour run.
New York traders temper their optimism as silver legislation remains the dominant issue. London prices slip. the opening in New York follows with a softer tone. Bears press uncertainty while main operators await Senate action before reengaging, leaving midsummer dullness in place.
Equities rounded higher from opening, led by railroad and gas shares with notable activity in Reading and Baltimore and Ohio. A syndicate formed to protect Baltimore interests against consolidation, amid mixed bond activity and meetings on the city’s stock control.
The river fell further with no coal shipments and few tows along the wharves. Water stood at 6 feet 10 inches at noon, then 6 feet 6 inches by 7 P M as Allen Lee and Ben S Taylor two mixed tows left Cincinnati for the Lower Ohio and Memphis. The Louis A Brierley sailed with empties to Wheel ing and Pittsburgh. reports say Pittsburgh plans a new barge. The City of Pittsburg hosted the Theatrical Social Club on a Wood Street cruise, while most towboats return home until navigation resumes in the fall.
Market report notes rising tropical fruit and dairy prices while berries from Stoops Ferry and Steubenville Pike fetch high quotes. New potatoes firm after declines. Mississippi tomatoes and Southern cabbage sell well. eggs, poultry, and cream dairy show mixed movement as merchants anticipate an upward trend.
A garbled late news roundup reports frayed caps in Paris and Lanaiog, a Morocco Germany France security note, Chicago power plays, a Metho dist General Conference slated for Omaha in 1802, anchors near Rome strike Fastnet Rock, mobbed gambling house in Pesth Has gary, Piedmont Bank razed with two dead, Union Pacific raises arden soda, ten injured near Plymouth Wisconsin, a fire in Louis destroyed J W be hs tisee store, $33,000 loss, Mrs Maggie en of Fegansi tries leaving husband, Iowa insect losses amid rains, grape growth and rot issues, ex Alderman Pearson fatally injured, Baltimore & Ohio deal worth $500,000, a girl near San Francisco may die, two men smothered in Chicago grain elevator, cavalry near the Bad Lands, Chicago seeks $4,000,000 World’s Fair loan, San Francisco soap maker Conlin shot, editor jailed, Tommy Sutton soda water illness, eastbound Ohioan Miss. rate debate, Sheridan Copass arrest, wages and telegraph crimes, and a 87 rail fare plan near St. Louis to Cincinnati.
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