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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jun 28, 1890
Page
3
The iron and steel trade remains quiet across the South as manufacturers close for repairs in June and July. Prices stay steady with strong demand for cut nails and structural iron, while steel rails ease slightly and Edgar Thomson works hold booked orders for the balance of the year.
June 27 dispatch notes steel and iron makers opposing tariff cuts on steel rails. An order for 500 tons at 35 per ton marked the market, with 32 per ton cited as an outside figure. Ore costs, freight, and potential ore-free import duties influence prices as mills plan for possible shutdowns after the holiday.
June dispatch reports falling iron volumes as furnaces struggle to fill June orders. Labor disputes loom, risking multiple shutdowns. Oxmore Eu reka and Trussville sites report outages or repairs while miners push for price or contract changes.
The extreme heat reduces market energy with rolling mills stopping for boat and stock taking ahead of July 1. Orders exceed last year though demand cools. southern furnaces are sold out and labor scarcity hampers shipments. Prices hold with expected uptick in July activity.
The Chicago market shows unusual demand for iron ball forms and pig iron as Rogers Brown & Co report strong statistical position in this specialty. Manufactured forms are in demand at higher prices with continued strong buyer interest into the season.
Chicago markets show softer demand with yesterday's advance fading. Wheat futures slipped and later edged lower while corn activity faded after an early push. oats and lard also moved modestly, with cash bids steady to lower across grains and pork prices softening. Northwest rain relief and mixed crop reports tempered activity.
Mortuary figures show 159 deaths in the city for the week ending June 2, up from 100 a year earlier. Pneumonia leads causes with 14 deaths, measles 12, consumption 11, diarrhea 25 with 21 choleraic. Children under 5 years old account for 109 deaths, including 79 under 1 and 22 between 1 and 2. Southside 55, East End 47, Old City 40.
Louis Louker a Pittsburg Traction line employee faces a charge before Alderman Mc Masters after a dispute with Minnie Gearing. He allegedly retained possession of her diamond tin and refuses to return it, prompting the formal complaint.
The mid year survey shows banks releasing several million dollars to fuel real estate and broad commerce in Pittsburgh. Gains in Clearing House reports reflect a strong six months with iron glass coal and dry goods providing steady demand. Building activity flourishes in Edgewood and Swissvale while Big Four and Big Five syndicates drive land deals and new mortgages.
Philadelphia Gas dominated the day’s stock action with 822 shares traded. The first sale opened at 8044, then 80g, and 3uly, showing steady appreciation and strong demand. It closed steady at the final quotation with more wanted than offered. Other specialties were modest with limited gains.
First call sales show 22 stores with Philadelphia Gas at S044 and 200 at second call, bringing total stock sales yesterday in New York to 189,062 pares. Major listings include Atchison 11,630 and Delaware Lackawanna and Waste 8,706 with other lines such as Hockin re alley 6,70 and Louisville on Nashville 6. Missouri Pacific Re Transcontinental 8,000. Read Deh mond and West Point 7,820.
Banks report plentiful 6 percent money in Pittsburg and rising deposits despite claims of short cash. Loaned stock collateral remains illiquid, but clearing House data indicate a healthy flow with exchanges around 2.34 million dollars. New York paper trades closed near 4 to 6 percent, mercantile rates steady.
Closing bond quotations and securities listings show U S 4s and various rail and company bonds with mixed bids. City clearings reported: New York $116 088 175 balances $268 57 506 Boston $13 490 911 balances $1 007 004 Philadelphia $10 046 806 balances $1 729 057 London bullion withdrawals amount to £20 000. Call loans near 6 percent with times under 7 percent, money demand firm.
Oil dealers reported a cautious opening with light volume and little clear trend. Prices fluctuated from 87 1/2 cents to 92 1/2 cents, ending around 91 cents as traders pressed for shorts.
June 27 reports from Ol Marketa New York show petroleum trading openings weak with declines to a fraction of a cent. July options touched a similar low before slight recovery, and daily shipments reached around 1080 barrels with totals near 86 610 barrels amid mixed quotes and sparse data.
New York June 2. Markets show temporary liquidity strain as obligations mature requiring 2 million dollars to be locked up for the day. A softer tone appears today despite an unfavorable bank statement expected tomorrow and call loans due Monday. Illinois Central strike continues to color railroad sentiment while Chicago Gas shows renewed strength.
Trading ended dull with little price change across stocks. Union Pacific and Northwestern ties drew concern over rising costs and limited East of Missouri business, while Atchison incomes led day on active issues totaling 170000. Rail and utility bonds were subdued as government and state bonds remained dull but fair.
The Ohio River rose briefly yesterday then fell toward evening with Davis Island at about 5 feet 6 inches around 7:30 PM. Boat keel piercings noted earlier appear to have ceased and no new cases are reported though curiosity remains about the cause.
A整理 of river traffic includes Tez Harry Brown and other tow arrivals in Louisville Cairo and Cincinnati with cargoes. Reports note Captain Edie in Port Harmar ill and a Seaman from Jeffersonville injured after a hotel fall. The Monday Night Euchre Club recounted a river trip mishap near Riverside ending at East Liberty.
Superintendent Dean of the Anti Cruelty Society alerted the Bureau of Health to a highly crowded residence at the corner of Twenty eighth street and Penn avenue. The dwelling has 26 small rooms housing Polish families, many of whom take in boarders.
Market reports indicate potato supply lags demand, pushing prices higher. Strawberry season is nearly ended, while corn and oats hold firm and hay remains weak. Farmers adjust as seasonal crops shift and feed costs stay volatile.
Prices show supply tightness for southern potatoes and rising costs while watermelons and berries vary. New Ohio cheese abundant with downward pricing. Elgin butter steady. eggs and citrus show mixed demand amid hot weather. Retail goods and groceries move unevenly with firm roasters and coffees. multiple produce items listed with prices per unit or crate.
Sale on call at the Grain Exchange reports 18 car receipts with half handled by Pittsburg Cincinnati St Louis and others. Oats are the strong market factor while hay moves slowly in buyers favor. wheat and flour show ease. Carload prices listed for wheat corn oats rye flour milled feed and hay across quality grades.
Fragmented OCR lists skinned shoulders dried beef bacon and canned goods with prices like 12¢ to 8c. Mentions 1350 family and half barrels. Ambiguous items and quantities imply a local market or stock ledger entry with several product names and prices.
The market basket shows a depleted strawberry crop driving limited supply and higher prices, with raspberries currants and other berries in fair supply. Dairy eggs and butter edge up slightly while tomatoes and potatoes hold steady. florists see strong demand and rising prices before a expected easing.
Cattle receipts total 1,186 head with 4,000 head on shipment. market described as nothing doing with all consignments, no cattle shipped to New York. Hog shipments include 8 cars to New York, price range 85 to 300 dollars. sheep receipts 400 head with market slow and unchanged prices.
New York Beeves receipts. market a shade higher with steers around 36065 per 100 lbs and dressed beef steady. Calves and sheep values noted. Chicago Drovers and St Louis reports show slower cattle demand, varied steer prices, and steady stockers. Kentucky? Missing.
Boston reports sales totaling a little over 2,000,000 pounds with prices weaker as manufacturers’ demand wanes. Ohio X and XX offerings sold at mixed levels, while Michigan and territory wools opened and bid, with several specific grades listed. Pulled wools remain in fair demand, foreign wools steady. Philadelphia prices largely steady for Ohio, Pennsylvania, West Virginia. Lowpon notes 7,270 bales offered, attendance down due to light supplies and poor showings. United States purchases to date reach about 1.0 Cy.
New York markets show no new features in June 77 with conditions and tone unchanged. Staple cottons remain firm if the market sustains the present level, while wide abatements suggest cautious demand.
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