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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
May 16, 1890
Page
7
New York May 15. The Iron Age notes a quiet market with mixed views on demand. Transactions include a 5,000 ton forge iron sale in New York, while billets and rails show narrowing price gaps and cautious buying across Northern and Southern mills.
London dispatch reports a calm iron market with weak British and Middiesborough sentiment. Warrants pull back while copper and steel prices drift, with demoralizing speculation prompting a British Iron Trade Association inquiry into open gambling in pig iron.
In the coke region last week business was fair but weak, with no major uptick until iron trade improves. Operators resist Lycene and Frick friction, some plants run four to five days, others face possible oven suspensions. New ovens rise near Ursina and Lemont, while shipments rise to 1,016 cars per day though overall monthly output dips. Prices held at furnace coke 215 dollars, foundry 245 dollars, with freight rates steady at CB.
Live stock markets at Hast Liberty Stock Yards show mixed receipts and shipments. Cattle receipts reach 1 700 head with 700 head shipped to New York, market dull with consignments. hogs 1 700 head receipts and 700 head shipped to New York. sheep receipts 400 head and 600 head shipped, with buyers bestowing limited demand.
The Drover's Journal notes cattle receipts around 77 000 head and shipments near 6 000 head, with mixed results across regions. Prices show heavy variation by class and destination, including export demand and dress-out values, with sales in Chicago and St Louis markets reflecting fluctuating demand.
Local wholesalers report ongoing flour price increases as market centers including Pittsburg push costs higher. City jobbers say they attempted earlier raises but kept old rates until rivals moved, fearing loss of profits and short supply until supply sources adjust.
The column notes quiet real estate activity in Pittsburg with favorable buyer interest especially for modest priced building lots. It reports a stock market outlook predicting a continued upward trend, mentions Pittsburg Traction stocks amid talk of a legal victory, and lists several property transactions in the McCombs Grove plan and other areas with prices and buyers.
A dull session sees limited movement as 200 shares trade with weak demand. Brokers blame investor focus on New York and Chicago boards, urging Pittsburgh Exchange to curb capital diversion and protect home interests.
Money was in moderate demand and good supply with rates steady at 6.7 percent. Checking light and depositing heavy indicate continued trade prosperity. Bank clearings totaled 2 257 199 70 and balances 222 205 63 as currency and exchange remained easy. The Wall Street Journal notes a shift of bullion dealing into stock exchange certificates, potentially widening the open market for bullion needs under current laws.
The report lists government and corporate bond quotations with figures for U S 4s and various issues, alongside bank clearings and balances in New York Boston and Philadelphia. It notes bullion withdrawals from the Bank of England, bullion reserve ratio, and slight moves in silver and money markets.
The off market opened in good shape and stayed strong though clone prices dipped two cents from the high due to light orders. Analysts cite foreign markets and stock declines as main drivers amid steady energy in the field with wells like the Heely in Bellevue considered dry, while others such as Neilson and Straw wait for deeper horizons.
In May reports across markets petroleum opened mixed with gains and declines. Clearances reached hundreds of thousands of barrels while shipments and runs remained substantial. New York prices moved, with spot and June options noted, and overall activity described as strong and volatile.
Report from Buren dated May 15 notes the Rarsle Daszle Ol Company suffered severe losses on the Thomas Mechting farm due to a dropped tool and a broken cable, ending a promising two to three day drill. Other wells on nearby farms show varying production, with several 60 barrels per day or less and ongoing drilling activity.
Stocks remained active in New York with strong morning buying and heavy later selling. Gains were limited as money rates rose and realizations set in. only Wheeling and Lake Erie managed a small gain while others fell, with Sugar, Missouri Pacific, Pacific Mail among the decliners.
The article notes 147000 boxes of lemons arriving in New York this month via steamers, testing the city’s capacity to absorb the influx. If hot weather arrives, lemonade prices may fall while oranges rise to parity. Bananas remain plentiful with high quality and steady prices.
May 16 in Welch West Virginia area reports two wells in operation at stake. George Mons triangle well shows flow around 000 barrels by 6 o clock. Singleton No well estimated at 000 barrels or more and continues to deliver.
A historic nursery rhyme line highlights Castoria use across ages from infancy through childhood. The verses imply consistent administration of Castoria as a remedy and are cited as a familiar brand reference in past parenting lore.
Readers encounter a garbled note about Chartiers station and a major occurrence on Kinglish Lutheran parson grounds. The text is incomplete but hints at a significant event linked to a person named O Brien and a promise or expectation related to a well or sand.
The readable portions show a local public notice but remain unclear. Names, dates, and actions are damaged, preventing precise details of the notice action, authority, place, or deadline from being stated.
Domestic market notes rail freight delays slow berry pineapples and new potatoes shipments. Butter prices ease on Elgin and Ohio creamery stocks while eggs rise and New York cheese improves. supplies tighten across fruits and vegetables with heavy rains delaying Southern crops.
Grain, plowmen and feed receipts listed in a bulletin from the Grain Exchange show cars received by the Pittsburgh Fort Wayne and Chicago Railway and other lines. Demand signals include scarce ear corn in Kentucky and rye rising interest. no fresh cereal developments since last report.
A degraded list of deli and meat items with prices including sugar cured hams shoulders beef bacon and canned goods. The OCR shows fragmented entries and inconsistent pricing across ham bacon beef and canned products.
In Chicago commodity trading wheat led activity with July futures fluctuating between gains and losses as speculative selling from a prominent local operator kept prices from advancing. May and June hedges were quiet while oats and pork showed mixed moves and lard steadied after early pressure. Across other markets, wheat in Cincinnati and Philadelphia slipped and rose with mixed crop reports and cooler wet weather influencing values.
The readable text hints at a description of a cleansing product claiming kidney and system benefits. It mentions ingredients like jiver and wolf and asserts effectiveness but notes uncertainty about provable results and bottle substantiation.
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