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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Mar 26, 1892
Page
3
The Pittsburg iron market shows stronger under current after 48 hours of price stabilization. Steady demand from furnaces on long-term contracts, limited broad selling, and reports of price bottoms suggest a cautious upturn with freight-rate restraint dampening coke and limestone costs.
The Birmingham iron market shows a bottom with no.1 at 11 dollars and no.2 at 10.50. Freight cuts to Western points, notably Cincinnati, hover near 50 cents per ton, with a citywide shift to northern movement after the 2nd of the month. Coal trade improves as coke quality rises and Tennessee Coal and Iron merges with de Bardeleben, not boosting output soon.
St Loc March 25 Specioal Rozers Brown A Meachem say: Unprecedented prices rule and Southern producers face orders yielding little or no profit. Unless production costs drop a general shutdown seems inevitable. Market active with many filled orders. Lake Superior irons align with Southern irons while Ohio st softeners fetch low prices for their kind.
Official dispatch from Prirsavne March 25 shows Carrise-Reeceipts with 522 head and 441 head market-nothing doing. No cattle shipped to New York. Hog receipts 28 head with one head shipped and market slow at $500 to $20. Steer receipts 2100 head with 1400 head shipped, market steady at unchanged prices.
Telegraph reports cattle hogs and sheep receipts from New York to Cincinnati with mixed price trends. Cattle prices vary by city with Chicago weak to lower while St Louis and Omaha show steadier to firmer bids. Hogs mostly lower with lighter weights offering from 4.25 to 5.10 per hundred pounds. Lambs and sheep exhibit steady to firm demand in several markets as numbers move through the week.
A note announces FUS by Bob Bardette appearing in The Dispatch tomorrow. The brief mentions Bardette as author and the upcoming feature in the newspaper.
The Diamond market reports improvement in vegetables and fruits with asparagus, rhubarb, and strawberries appearing from Gulf of Mexico areas. Fish supplies tighten though shad and bass arrive fresh. butter remains scarce and prices rise. Poultry and meats stay firm while florists see quiet sales and garden items stay varied.
Realty activity remains healthy as good weather approaches. Notable deals include the Dawes residence at Center avenue and Craig street in Fourteenth ward sold for 20 000, a Wilkinsburg lot on Rebecca street at 6 000, and multiple parcels and houses across Wilkinsburg, Brookline, and the city.
The market opened high on free car bill optimism with gains in Coalers and Grangers but soon slid after rumors that Chairman Olcott resigned from the Richmond and West Point committee. Lake Shore led declines as Northern Pacific and Reading showed flickering strength, closing with minor losses overall.
Slow start gave way to a lively close as prices rose across most issues. Birmingham Traction and Philadelphia Gas led gains with several coalitions and rails advancing while Electric weakened.
New York stock desk records mining quotations dated March 25. Best and Belcher trades at 235 with notable activity in metal shares.
The local money market improved with better weather and unchanged 6 percent interest. Bank clearings reached $2,052,497.03 and balances $437,371.61 as idle funds reduced and capital circulated more actively. A banker noted the shift from last month’s constriction.
The article notes money remains plentiful nationwide with a slight rise in rates. It cites call money at 4 1 2 percent, last loan 2 percent, and prime mercantile paper at 4 1 2 percent. Sterling exchange holds at 48 60 day bills and 88 demand.
Bond quotations list includes 8.4s reg 115M M K T Gen 5s 50 Hos Mutual Union 63 1080 N J OC Int Cert 112 v85. oe BORD 2 Sorthern Inc 1sts 17 s Northern Pac 2ds 05 Louisiana stamp 4s ba Northwestern cons 137 re Northw'n d'brs Ss 107 PEG Tr Den j 2ds 108% West shore M re T Gen 65 805K G Western .0579 Bid TAsked
Financial notices show Chicago, New Orleans, St Louis, New York and other centers reporting bank clearings totals and balances. Money markets sit quiet with small percentage moves and varied exchange discounts against New York.
The report notes improved demand with good weather and a generally firm market. Eggs and butter hold steady or firm, poultry remains limited but active, and tropical fruits especially Florida oranges show strength. Fresh vegetables and old stock trends vary, with cereals and sugars advancing and overall trade quiet to fitful.
No sales on call at the Grain Exchange. Receipts show 4% cars with flour middlings hay oats and corn from Pittsburg Fort Wayne Chicago Railway and from Pittsburz Cincinnati St Louis. Markets favor buyers as hay supplies rise and levels ease with slow packing. wheat quotations list No 3 red 67 to 67½ cents and No 3 yellow 48 to 49 cents.
Market notes list prices for various grains and flours including Pennsylvania and Ohio flour to 1.70 to 1.75 per unit, white middlings and hogane products around 17 dollars, winter wheat at 8 to 9 dollars, rye and timothy also priced, quantities shown as per bushel or ton. The fragmentary itemized table reflects daily stock and wholesale quotes.
Ballooning activity in Chicago wheat pits followed by May gains on Liverpool cables and rumors of German and Russian involvement. Corn fluctuated with short covering and late buying while oats stayed steady. provisions moved with wheat as markets absorbed shipping and inspection worries.
A chaotic OCR of commodity prices and market remarks shows corn, wheat, rye, oats and pork with varied quotes. Regions cited include Milwaukee and Duluth with spot and May futures, plus Kansas City noting little change in flour and butter and eggs.
Wool buyers report firm or easing prices across regions with Ohio and Pennsylvania shapers weaker and West Virginia coarser wools scarce. Receipts total about 5,000 pounds as demand remains light and sales slow. New York markets show steady to dull fleece values with mixed grades from fine to coarse.
In New York on March 25, dry goods trade was firmer with better attendance and some round lots of staple cottons sold. The market remained conservative with light deliveries and no open drives, though print cloths firmed and jobbers offered bargains across departments. Overall condition is fair with some fancy goods in job lots.
Market brief notes steady to firm pricing for turpentine and rosin in multiple districts. New York Rosin firm at 115, crude turpentine steady around 100 to 190 for various grades. Charleston and SavayNan show turpentine near 33 cents and rosins around 120 to 155.
In New York on March 24 coffee options closed steady with mixed activity. Trading included contracts for April to December with varied cents per pound and several price points, while late notes from March 25 describe steady to fair demand across Rio cargoes and New Orleans markets.
In Chicago a 35-year-old woman named Mary Deighton alias Murray confessed to kidnapping 12-year-old Mabel Hopkins in 1889. She entered the home posing as an art teacher and left with the child after ten minutes alone with her. The abduction was allegedly planned by Mabel's father E D B Hopkins and Hattie Eggleston. the missing girl is said to be in a London, Canada convent. Hopkins and Eggleston are charged by the father’s ex-wife.
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