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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Jun 29, 1889
Page
3
Lake fish scarce as market greets new crop arrivals. New home potatoes squash beans appear alongside watermelons cantaloupes and berries. Florists lament June weather while trade hums with fresh lines and steady prices across meats seafood and flowers.
Cattle receipts 620 head with 450 head shipped to New York. Market describes as nothing doing early, later brisk and firm with cattle shipped to New York noted as higher. Transactions indicate ongoing shipments and stable demand through the day.
Telegraph report on New Youx beef cattle receipts of 2 900 head with steers bulls and cows prices around 10. to 12.5 per 100 pounds, calves at 2 6,000 head sales slow. hogs and sheep also featuring varying bids and through shipments totaling 3 040? head. Market notes indicate weaker demand for ordinary grades and steadier stockers with mixed cattle movements and through-shipments totaling several loads.
New York June 2 The drygoods market was quiet with little change. General activity was steady, buyers showed fair demand for low grade goods, prices remained firm while some fake or questionable lots moved slowly.
A volatile session followed weak overnight European cues with corn, wheat, and oats trading unevenly. Prices closed mixed with July and August futures higher on improved demand while lard and pork markets softened. reports cited late rains and hot winds hurting crops in Northwest Russia and Austro Hungary, and some traders expected a smaller harvest across several regions.
Fragmented OCR lists stock names and numeric codes for Boston and Philadelphia listings. Mentions central exchanges, Calumet and Hecia, Huron, Cleve, and other tickers with scattered figures. Details are garbled but reference to stocks and exchanges remains.
A brief market note from New York references Metaletme Iron and Pig iron at $143 and 1800, copper nominal around $9.60, and tin at about $19 with dull to easier pricing for lead and tin. The report signals slight price softness and varied commodity movements.
An 1870s boom in Pittsburgh real estate built on a blanket charter company boomed with land purchases near rail lines and flashy promotion. When the crash hit, creditors pressed for money, lawsuits followed, and many stockholders lost their investments, revealing the dangers of speculative schemes and prompting lessons for local stability. The piece also notes a later committee finding that iron and steel in locomotives mildly affect watches, and an Exchange meeting discussing widening stock trading rules to attract outside capital and preserve home investment.
A stock call yesterday afternoon showed a large supply of Electric, refuting claims of scarcity. Philadelphia Gas remained firm with light sales, trading small bundles. Offers and bids for Airbrake Limited appeared, but market clarity faded amid scattered figures and partial data.
Morning call showed 10 shares of Philadelphia Gas at 58 and 60, Central Traction at 1 in the afternoon. Philadelphia Electric at 4734 and 60 Central Traction at 314. Yesterday lists fractions including Atchison word shares 17,218 and several lines for Delaware, Lackawanna and Western 9,800. Erie, Lake Shore 7,250. Northwestern 6,700. Northern Pacific preferred 8,047. Richmond and West Point 7,713. Union Pacific 6,700.
Banking notes report dull checking yesterday with clearings and money rates holding steady. London bullion withdrawals and Bank of England balance shifts appear mild while New York clearings reach about 154 million with varied balances. global rates remain mostly unchanged.
The Petroleum Exchange entered its second day under a new system with wide price swings and liberal trading focused on July deliveries. Prices ranged around 917 1/2 to 920, with small blocks traded and then bought back quickly amid fears of abortage. Traders expect the new deal to gain clarity in days. overall activity was similar to yesterday and better than last week under the old plan. Afternoon trading moved from 8 1/4 to 3 1/2 cents, closing near 3 1/2 cents, a decline from the opening. Thursday clearings totaled 84,000. Field news was scant, noting Makall farm in Me county with six barrels, and Say rs Liggett's well on the Schilling farm near Economy not yet tubed, estimated at 10 to 25 barrels daily.
Corrected daily by John M Oaxiey Co with London refined prices and Pittsburgh brokers quotes. Prices show certificates closed at varying rates with highest and lowest marks for Wigan Warhcoe and other listings.
A brisk report lists W A Herron & Sons selling a lot with a large frame house on CLT Street to 6160. George & Martin sell Maplewood Park lots to Robert McKowen and J H Mounine. Black & Baird sell Oakland parcels to Rufus Wearer, with mortgage plans in play. Beringer & Son convey properties in Homestead and Park Place Wilkinsburg. J Pentecost lists additional city and nearby sales totaling numerous parcels and mortgages, noting activity across McKee's Rocks, McKeesport, and Duquesne Heights. Over two weeks, many lots sold and mortgages placed by various firms.
The New York stock market opened with dull conditions and little notable movement. Trust stocks remained quiet overall, showing firmness but few fluctuations, except for the American Cattle Trust which opened with small price declines from last night’s figures.
The market swung as bear selling hit several names including New England and St. Paul, with a 1 percent dip to 53 before gains. Vanderbilt dividend news and strong Jersey Central showed resilience, while Lake Shore lagged. Bonds offered modest activity as overall turnover remained thin on the New York Stock Exchange.
A Knoxville dispatch reports a near consummation of a coal company consolidation in the Jellico district. All operators except the Standard Coal and Coke Company of Newcomb will transfer to a New York capital group, with hundreds of thousands in cash and possible expansion. The deal includes lands, railroads, and machinery, creating a single powerful entity with current capacity around 25,000 tons daily and plans to double soon through new mines and enlarged operations. Prominent figures cited include Samuel Thomas, John H. Inman, and East Tennessee interests tied to railroads. The arrangement aims to equalize advantages with Coal Creek operators and unify access to Knoxville and Ohio lines.
The market stays steady to firm for most grades with demand varying by item. Pig iron, steel components, and shipyard materials show firmer prices in places like Glasgow and Ardrossan, while London and New York markets hold firm with steady or modest gains. lead and tin show active trades and price levels at shipping points.
New York fleeces steady with fair demand. Texas prices 14¢ 28e. Philadelphia wool pulled at 2 40e, prices firm. Ohio Pennsylvania and Indiana values noted. Michigan and West reach higher tiers. Descriptions include washed and combing delaine varieties, tub scours mentioned in fragment.
Domestic markets report active tropical fruit demand with prices edging up while watermelons and cantaloupes are plentiful. Cabbage demand improves, eggs firm, butter steady, and cheese steady. strawberries nearly finished and inferior. Coffee options rally, sugars firm. diverse produce and groceries showing mixed movements across several regions and varieties.
Total receipts bulletined at the Grain Exchange with figures by Pittsburg, Ft Wayne and Chicago. Wheat, flour, hay, oats and corn movements noted. oats steady, hay easy, corn scarcer and higher. general cereal situation in fair to weak tone.
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