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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
May 16, 1891
Page
3
Production remains below peak levels as buyers limit purchases to immediate needs. Market notes cautious sellers and rising demand for spot deliveries while mills in Alabama and Tennessee curb output due to scarce wood and rising costs.орист
In Alabama iron prices stagnate with no clear improvement. No. 12 foundry and Gray Forge Mill report weak orders and shaded quotations. Manufacturers remain confident the slump will ease as production costs drop. $1,000,080 steel plant plans and Henderson Company’s financial struggles are noted, signaling a cautious district outlook.
In Cincinnati May report Hogers Brown and Co say the iron market centers on free ordering of iron and heavy purchases of the charcoal variety. The telegram notes strong demand and rising prices as traders watch the market closely.
Special Telegram from Philadelphia reports that iron prices moved through a volatile week as financial disturbances unsettled operators. Quoted levels ranged for Pennsylvanian iron, Bessemer pig, and structural materials with varied futures for steel billets and rails.
In Chicago district buyers push Lake Superior charcoal iron and coke irons with many long deliveries. Malable wheel and agricultural firms secured heavy sales. furnaces gain independent delivery position and several firms hike prices. Southern furnaces resist 12 month terms as market activity looks to improve later in the year.
Rogers Brown and Meacham report higher iron inquiries in the past week as local car works place purchases and seek additional lots for delivery. Listings include Southern coke and charcoal products, Missouri and Ohio irons, and car wheel and malleable irons from Lake Superior and Southern sources.
Market notes indicate quiet AR RAW OR trading with prices steady. Listings cover Ohio Pennsylvania Virginia and other regions with varied grades from fine to coarse, including washed combing delaine and tub washed varieties.
Coffee prices in New Orleans and New York show a mixed day with declines noted for some futures while others hold steady. May market activity included 7.900 price references and Rio de Janeiro origin notes, reflecting uncertain demand.
Market notes describe fall contracts for brown and colored cottons and woolen fabrics. Cotton prices are firmer than weeks ago with little change expected. bargains in silk and underwear shift as buyers and sellers discuss terms.
May reports show firm rosin prices with strained at 12 and 135 dollars for food strained. Crude firm at 140 dollars on dip. Times and craft notes from Virginia and Georgia reference markets and test bids. The Dispatch highlights science and electricity as featured Sunday content.
The Northside sees major property changes as Isaac Taylor's estate transfers a three story brick house on North avenue and Resaca street to John H. Mueller for 26000 dollars. Other high class Northside homes changed hands this week signaling strong demand and cash transactions.
The outside market showed slight improvement from the prior day with more trade in room securities and stronger Trac tions. New York remained dull with occasional rallies while gold shipments moved forward and the yellow metal loss persisted as a bearish factor. Local prices shifted little as buyers outpaced sellers and Westinghouse and Bank stocks posted gains.
City observers note momentum in stock activity as Eastern holders push for action. Daily totals show improving sales with 600 shares traded on the call and notable bids across Electric, Philadelphia Gas, Duquesne Traction, and related utilities. In New York, overall stock volume reached 202,483 shares with notable gains in St. Paul and Union Pacific listings.
The New York stock market fell in overall volume with broad weakness amid rising money rates and foreign money concerns. Seven leading issues dominated activity while gains in some rails and industrials were offset by losses in Louisvile, St Paul, and others. a late rally faded as prices settled near session lows.
Local banks report steady activity with moderate discounting and robust cash deposits. Rates hold near 6 66 percent with ample funds, exports unchanged, and financials showing strong balances and bank clearings across cities.
The New Tone reports mining stock quotes with numerous listings including Adams Consolidated at 185, Belcher at 260, California and Virginia at 300, Silver 860, Ontario Occidental 135, Savage 310, and Yellow Jacket 280. The format shows varied prices and cross listings across several issuers.
East Liberty and other stock yards show cattle receipts at 66 head with 27 rail cars shipped to New York. Hog receipts near 4,000 with 3,850 shipped. market slow and dull though Philadelphia and New York prices quoted. Sheep around 1,000 head with shipments near 1,300. prices also dull compared to yesterday.
The report lists cattle, calves, sheep and hog receipts from New York to Kansas City with prices and trade notes. It notes steady or lower markets for steers, natives, and butchers stock, with specific head counts and price ranges, including Omaha and Chicago as key centers.
The market notes dairy prices easing with creamery butter and country butter weakening, while poultry demand improves. Sugar and coffee show mixed trends. corn, hay, and millfeed quiet. wheat and oats steady. fruit and produce volumes stay ample with selective price shifts in staples and canned goods.
Chicago markets show wheat opening at low, rising to higher levels then drifting. July futures move from 1.014 02 to around 1.023 4 with intraday swings. Corn and oats trade firm early but ease. hogs and pork provisions see limited activity. Bear pressure eases as Paris cables and insect reports influence the session. Minnesota and Dakota entries show weakness.
On the Grain Exchange today carload sales included 1 car timothy hay at 1135 spot and 1 car packing hay at 50. Receipts bulletined show hay and cereal movement across lines Pittsburg Ft Wayne Chicago Rail Way, Pittsburg Lake Erie, Baltimore and Ohio, and Pittsburg Cincinnati St Louis with several cars of hay and minor oats and rye listings. Wheat and corn markets are steady to soft with ongoing variability and price activity noted as operators risked expectations.
The United States Tobacco Journal notes inquiries for new Wisconsin crops rise but packers avoid selling now. Buyers seek new Wisconsin tobacco for the coming season, while fillers fetch varied prices. Sumatra auctions show high prices with 25 of 72 bales bid at 2 to 2 25 per pound, cash terms only.
Market report notes weak demand for wheat and mixed futures across Minneapolis Philadelphia New Orleans and Peoria. Prices for No 1 Northern and other grades fall slightly while butter eggs and pork show minor moves and futures valuations remain unsettled amid light selling.
The article notes Sunday dinner costs, staple meats and eggs holding last week’s prices, butter and creamery varying modestly, and strawberries well supplied but limited by crop prospects. It lists vegetables and fruits with scattered prices and mentions demand for loose flowers by the Music Festival and new flower arrivals at Ashstairs.
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