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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Mar 14, 1889
Page
7
The weeklong local cattle run reached 80 to 85 loads with over half from Chicago. Prices were 10 to 80 lower, quality below average, and many prime cattle absent from markets. Sheep and lambs held prices with limited demand and weaker late-week results.
Telegraph market summary reports New Year beef and veal demand mixed with clearer yard conditions. Cattle receipts run high with steers at 2.50 to 4.40 per 100 pounds and dry cows around 1.50 to 1.80. sheep and lambs saw prices drop about 10 percent while good clearance persisted. Hog offerings steady with lower prices. shipments and stocker activity noted with steady to firm balance in premium beef and shipping steers.
Chicago and other markets showed a firmer tone with wheat closing a fraction higher after May and July openings. Corn and oats also advanced early but eased. pork and lard moved with active trading and wide fluctuations. overall receipts and quotes reflected stronger sentiment and unsettled weight in the afternoon.
Boston March L copper stocks continued a days long decline as traders failed to show strong activity and overall weakness followed Wall Street. Rutland preferred and several other issues traded quietly amid a broad market slide with limited price moves.
Readable phrases indicate Philadelphia stocks activity for a fourth change with names Nishea Owanines Leanne Mombete and See Yokae mentioned in connection to the roster or watch list.
Mining stocks in New York on March 13 closed with varied results led by Caledonia B H and Savage as others like Colorado Central and Eureka Consolidated posted gains or steady prices. Market notes mention unsettled futures and irregular quotes across several names.
Wool markets report steady prices as Sr. Lovris-Wool remains quiet and unchanged. A note highlights hosiery bargains this week at Rosenbaum and Co. with potential savings for shoppers.
The Wilkinsburg Natural Gas Company has sold most new stock and will begin drilling the second well within days, aiming to finish in about 30 days and test by experts to gauge gas district value. Old well remains plugged until results are known, while new ventures hinge on the outcome.
The stock market showed strength with Westinghouse Electric rising toward par before settling at 404, while Philadelphia Gas jumped to 8744 as Merkur confusion hit Switch and Signal. Tractions weakened with mixed bids and offers, and total New York stock volume reached 198,000 amid varied activity across utilities and transit issues.
Bankers anticipate better times as money market shows little activity and easy rates. Figures show total circulation on March 1 at 14,? million with declines for the month and year, while U S bond based circulation falls and banking funds remain ample. Money on call in New York slightly higher with mercantile paper in demand.
Government bonds and currency notes show 6 percent issues and New York clearings. The report lists balances for various banks, including Philadelphia clearings at over 11 million and related totals.
The market showed strong activity with multiple sales of improved and unimproved property and several hundred houses rented. Agents report around 1,200 tenants with many signing new leases. mortgages were issued at 6 percent.
The New York stock market opened dull then fluctuated within narrow limits with slight overall declines. Bears pressed Grangers and Coal shares while St. Paul and Lackawanna showed notable activity. St. Paul preferred rallied late as Chattanooga rose about one percent and Pullman fluctuated. The railroad bond market stayed subdued though some issues advanced modestly.
A chaotic digest of political moves and incidents includes a cold wave forecast for tomorrow, Michigan moves to allow women to vote for School Inspector in Detroit, finance notes on new securities, and legal actions in fraud cases. Reports span Detroit politics, rail clashes, Gladstone’s health, and shipping incidents.
Domestic markets show creamery butter and eggs retreating as trade remains slow and prices stay depressed for weeks. Dairy and cheese supplies stay weak while maple syrup and other country produce fluctuates with overall downward tendency and no near-term rebound signs.
Grain exchange notes total receipts across Pittsburg Fort Wayne Chicago with mixed carloads of hay bran barley malt straw middlings flour feed corn and limited hay and feed shipments from Pittsburg Lake Erie Western Cincinnati St Louis Prices cut across the board. flour outlook weak with ready prices below quotations and jobbers offering Minnesota patents at 660 per carload amid falling wheat consignments and lower No 2 red and yellow oats and other staples.
March 13 report shows drygoods wholesalers and jobbers active with higher volumes but reduced spirit compared to prior times. In prints and speculation trade brisk with more agent involvement while staple goods remain quiet and market steady overall.
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