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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Mar 07, 1891
Page
3
Iron and steel markets show no rebound as labor unrest in coke regions delays furnace restarts. Prices remain firm for manufactured iron and bloom billets, while bar iron weakens. Food and commodity prices listed reflect steady retail rates amid uncertain production.
March reports show continued firming in iron and steel markets with inactive furnaces due to strikes and scarce transit. North and South prices rise about 75 cents per ton while some sales push higher than the full advance. Basic steel from Chattanooga touted for high quality and open hearth potential, with softeners and charcoal iron showing modest lift.
Special telegraph dispatch from St Louis reports Rogers Brown and Meacham noting no major market changes since the last update. Demand remains light but prices are a bit firmer than early February with the coke strike in Connellsville district still unsettled.
A special telegram from Pet Curiaco reports the Chicago market showing little change despite firm prices in Southern furnaces. Long deliveries for two to three months indicate contracted supplies, while Lake Superior charcoal remains scarce. Prices on the iron and steel class may not endure the current high level as costs have been surpassed in several weeks.
Philadelphia reports an exceedingly dull iron market with limited improvement expected. The effect of the recent pack lingers in the iron trade and in other markets, while the local miller market shows a brighter note with improved buyers for Bessemer pig iron and a few higher quotes from manufacturers in Pittsburgh.
The week in markets shows a sharp rise in creamery butter with prices well above last week. Egg prices stay near prior levels as weather tightens supply, while retail cow prices hold. Meat prices vary by cut with tenderloin and standing rib roast showing strong figures. pork and poultry remain steady amid cooler demand.
The week closes with no sensational drills as Wildwood shows signs of weakening and McCurdy remains restrained. Operators across Venango and surrounding counties push multiple wells, testing fields from McDonald to Reed, with several rigs active and many new sand tests planned or underway.
Architect Frazier bought a 60 by 200 foot Stanton avenue lot for 6000 dollars to build a private stone residence costing under 15000 dollars with work to start in April. Pittsburg gains a new macaron i factory with B Picardo as proprietor remodeling a 50 by 137 foot Forty sixth street building for 6100 dollars. plant ready by early summer. The Lappe tannery in Allegheny transfers to three sons for 100000 dollars. J C Lappe Company continues. grounds include three to four acres on Spring Garden avenue with extensive buildings. Dwellings on Stanton and Negley avenues sold. more plans drawn for Negley avenues and Baywood streets. East End demand for residences remains strong with supply short. Building stats show 1890 saw 61,420 houses in four leading cities at about 221 million dollars. total 300,000 nationwide at not less than 90 million dollars. Other notes: old Roup station to Dallas. Arbuthnot building roof finished. McKeesport realty boom from outsider influx. Various permits for new buildings listed. several property sales in Allegheny City and the South Side.
New York reported by bullion dealers a London market price of 411 164 ounce for war silver. The figure reflects New York selling levels as of March 6 with overseas pricing influencing domestic quotes.
In New York on March 6, drygoods buyers met with moderate parcel volumes and few orders ahead, signaling cautious purchasing behavior amid steady activity at the market.
City bankers report abundant funds for legitimate businesses and new ventures. With strong markets for most goods, there is a favorable moment for young men to start commercial or manufacturing careers. Trade activity remains steady, though Clearing House business eased slightly due to weather and routine operations.
Reported banking activity shows Chicago New York and other cities with clearings totals ranging from 9.4 million to 13.2 million dollars. Money rates held around 6 to 7 percent and various exchange figures are listed for New York London and other hubs alongside mining stock quotations for several tickers.
The local stock market yesterday showed tame calls and scarce news with total sales around 20 shares. Electric stocks held steady, 12 bid for 1,000-share Boston lots, and Westinghouse movements spark debate while Philadelphia bids and declines oscillate. New York totals reached 66,607 shares with major issues including St. Paul and Union Pacific among others.
Oil markets opened strong with brisk hands but turned weaker after reports of a large well nearby. About 15,000 barrels traded as prices fluctuated across the era with futures and options showing gains early and declines by day’s end.
Professional operators remained bearish on March 6 with weak demand for stocks. Bears pressed Grangers amid corn crop losses while bulls found few buyers despite some foreign demand. Major shares fell, with St Paul Northern Pacific and Chicago Gas among notable losers. late session activity showed continued weakness and fractional losses across the board.
Cattle receipts 795 head hogs 4290 head sheep 2000 head with mixed shipments and prices across Pittsburgh Cincinnati New York Chicago Buffalo St Louis Kansas City Indianapolis and regional wool markets. Cattle were steady to strong with varied prices. hogs opened slow then steady to higher in some markets. sheep active with steady to firm demand. notable prices include steers up to 5 50 in Chicago and hogs around 3 40 to 3 60 in several markets.
Fragmentary OCR advertises Little Liver Pills claimed to cure sick headaches and liver ailments. Mentions Carter’s Little Liver Pills and related product names in a period style promoting patent medicines with bold claims of quick relief.
Domestic markets report ongoing cereal price advances with corn oats and rye rising amid shortages. Butter and oleo demand stay strong as retailers seek licenses and new Jersey, New York, and Liverpool trade shows global movement amid tight supply. vegetables and canned goods remain steady with varied price shifts across dairy, fruit, and produce lines.
Report shows brisk grain trading with multiple car lots of corn oats rye and hay moving by Pittsburgh Cincinnati and St Louis Railway and other lines. Prices advance daily amid rising cereal values as market conditions tighten and traders push bids and receipts.
The notice itemizes wholesale winter prices for flours and feed including straight spring, white middlings, brown middlings, rye flour and buckwheat, with tonnage and per unit costs. It also lists a broad range of sugar cured meats and pork products with varying sizes and prices, plus lard, tin cans, and smoked sausage.
Chicago reports a volatile wheat session with large local, foreign, and speculative trading. Prices rose on renewed buying and favorable cables, then fell on news of an Argentine banking disruption that was later denied. Cash and futures mixed, with bread and meat markets firmer in New York and Chicago openings.
Across Minneapolis Cincinnati and Duluth buyers paused while May wheat held near price levels. No 1 Northern and No 2 Northern futures moved with May and March contracts as flour markets showed limited purchasing. Oats and corn remained active in Toledo and Cincinnati with steady provisions and rising cheese and eggs in demand.
Sea York report lists mixed commodity quotes with several dates and price ranges for months from April to December, noting shifts in values and cargo activity. A separate line mentions Fannie B. Ward's letter to THE DISPATCH about Mardi Gras in Peru, slated for tomorrow.
Caldwell Kansas March Pat O Connor leads the OConnor and Dill colony of Strip boomers. He fears Congress has taken no action to open the Cherokee Strip. He has families ready to move but must decide whether to place them or refund membership fees that would be forfeited.
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