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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Mar 11, 1890
Page
7
The market shows active demand with cattle and hogs moving well. Chicago and Pennsylvania arrivals drive prices higher, with prime cattle around 5 to 7 dollars per cwt and hogs trading up to 14 dollars at East Liberty, while sheep and lambs command stronger quotes and overall pens sell out promptly.
Cattle and hog receipts across Burrato, Chicago, Kansas City and Indianapolis show market strength with higher prices for hogs and steers. Listings include specific bids for choice to prime grades, with lambs and sheep fluctuating and overall activity varying by region.
The annual meeting of the Switch and Signal Company will be held this afternoon. The Pennsylvania Railroad reports weekly coal and coke tonnage east of Pittsburg and Erie totaling 327273 tons for the week ending March 1, with 230238 tons coal and 06145 tons coke. Tux Headine Railroad cites a March week shipment around 10000 tons, with 12000 to Port Richmond and 1000 to Port Liberty. Conservative New York financiers foresee no monetary stringency, noting banks are several million dollars better off than in Saturday's statement. The Chicago Board of Trade plans to discontinue all quotation service on March 1 following New York Stock Exchange practice, with future adjustments unclear. President Roberts' remarks on new capital in the Pennsylvania Railroad annual report are noted.
Chicago market opened higher then faded to near Saturday quotes as traders awaited the government report. Corn and oats showed firm tones early, with soy products and pork futures modestly higher. cash markets reflected steady to firmer tone, while grain receipts and shipments remained sizable across the Midwest.
In Rio de Janeiro and Santos on March 10, the market notes 7 590 reis per 10 kilos for good second grade coffee with 7 400 row. Weekly receipts total 50 000 bags with 53 000 bags for the United States and 68 000 bags cleared for the United States, stock 5 000 bags. In Santos good coffee sells at 7 000 reis per 10 kilos with weekly receipts 24 000 bags, purchases for the United States, 9 0 e, clearances for the United States 4 000 bags, stock 195 000 bags.
In Chicago on March 10 the Board Trade issued a report detailing visible supplies for Wheat, Corn and Barley. Wheat reached about 23,414 bushels with a noted increase while Corn and Barley figures show declines and new totals around 4,850,000 and 160,000 respectively.
An old newspaper ad touts Beecuam's Pills as curing bilious and nervous ailments while Plans' Soap promises a beautiful complexion for users. The copy emphasizes health and beauty benefits with clinical tone and product claims.
New York stock and investment brokers McKee & Hagan list addresses at 111 Fourth Ave and after April 1 at 108 Fourth Ave. W. Hinx of Pittsburg Meat Supply Co. reports sales for Nelson Morris & Co. of Chicago. Week ending March 8 1890 records 183 carcasses of beef, average weight 625 pounds, average price 58.3 per 100 pounds.
Local Strack at 111 Fourth Ave and after April 1 at 168 Fourth Ave, Tisa. Property listing notes unspecified dates and locations with limited details.
Real estate notes recount a corrected sale of Nos 411 and 413 Smithfield street to Thomas D Messier for 72 500 and firm ledgers show a 60 000 downtown sale. prices per foot on Water and Penn streets detailed along with expansion plans. The piece also covers railway structure fate, a Chicago court ruling on roller mill patents, and Philadelphia Stock Exchange officers.
Stocks moved slowly on Monday with 390 shares traded as brokers felt a positive mood. Pittsburg Traction stood out as the strongest issue in its class, while Electric and Luster weakened and Gas and traction issues showed varied activity. Afternoon sales included Central Traction and Philadelphia Gas with notable blocks. overall New York totals reached 400,438 shares across the market.
Local finances show good shape as spring trade begins. Demand for money was solid yesterday while banks remained well funded and loan applicants with capital were accommodated. Rates stood around 6.7 percent with most business at the inside figure. Currency scarcity varied by party.
The report notes changes between 623 and 05 and balances at 12 619 90 with 2 433 in ng. Money on call in New York yesterday was easy with rates from 4 to 5 percent. Last loan closed at 4. Prime mercantile paper and SW 7. Sterling exchange steady at 1 S214 for 60 day bills and 1 864 for demand.
Closing bond quotations and financial figures from cities including New York Boston Philadelphia London Paris Berlin and Chicago. Bank and exchange balances bullion and money rates are noted with official settlements and discounts.
The February pipeline report shows a small stock reduction of 174000 barrels, the smallest since June 1687. Markets were dull with narrow fluctuations. Oil City bought, then sold, ending near steady. New wells improved in Sheffield district and Hundred-foot district, while Transcontinental Association trims West rates to 90 cents per hundred. Standard Co plans an eight inch Lima to Chicago line to meet rising Lima oil demand.
In Cornopolis borough the Ferree farm well shows unpredictable output with estimates ranging from 4 barrels to 300 or 400 barrels daily. Residents eye nearby lots for leasing and possible rig placements as Depp and Schmid wells continue operations nearby. Chartiers station and area firms push drilling with Holmes Criley Smiths and Aryan wells reported at about 1000 to 1520 feet depth.
County Poor Director William H. Guy is studying prospects at the County Home in Coraopolis for oil or gas under the farm. He heads a one man committee negotiating with a party offering to drill a well and sell the gas or oil to the Home at cost, with royalties or surplus details to be arranged.
Frontrunners report Standard Oil raising prices to 71 cents per barrel after independent buyers bid 29 cents. The move follows a 6 to 5 cent jump last week to shut out independents. In Montour, James W. Drape leased 56 acres near the Gaffy well with a $4,000 cash bonus and royalties from one-eighth to one-fourth of the oil.
In Washington Pa on March 10 substantial real estate closings were reported. Two notable sales included the Shirley’s Grove property spanning 20 acres, sold to a land company, and the farm of James D. Glenn, with details indicating a serious market activity and forthcoming Saturday closing plans.
Beadford and Om City reports show open- high- low- and close prices for crude oil with numerous barrel figures and clearances. New York stock exchange details cite firm opening then easing to a steady close with total daily sales around 390000 barrels.
Reading stock seizes the day with massive trading while overall market stays unsettled amid takeover fears. Bears press shorts late as Reading actions color early gains. other issues show mixed moves with Sugar, Louisville and Chicago highlight gains and declines.
Monday’s trade sees slow egg demand and firm poultry fruits and vegetables. Prices for maple syrup rise with good supplies while tropical fruits weak. citrus scarce, bananas plentiful. butter and cheese vary by region. grains, oats and buckwheat flour listed with fluctuating values across farm products and livestock items.
No change in market values reported by jobbers amid active trade. Coffee and sugar markets remain firm with an early price rise expected for coffee and ongoing strength in sugar. The notice lists diverse commodities and prices including Rio coffees, Mocha, various prunes, dried fruits, canned goods, spices, and oils, reflecting broad wholesale activity.
On the Grain Exchange a mix of hay and corn trades appear with prices for carload lots. Wheat and shell corn show an upward tendency amid firmer hold positions. winter wheat prospects scare and weather affects futures. Prices listed for wheat, corn, oats, rye, and flour reflect recent movements and regional quotations across several rail lines.
A fragmented market listing shows various sugar cured hams bacon shoulders and dried beef with prices, weights, and product forms. It references boneless hams fresh pork links and barrel sizes with multiple typographical errors but preserves the core items and price points.
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