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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
May 22, 1889
Page
7
The Titusville oil futures debate ends with negative results as brokers await Bradford and Rule 8. Real estate remains robust with strong Southside business site sales, unimproved suburban lots, and a wave of new houses. Prices show a steady rise supported by capital and demand.
The market was moderately active with 601 shares traded year amid mixed results. Patteburg Traction, Pittsburg and Western Railroad, and Philadelphia Gas led declines, while Switch and Signal rose slightly on improved business. electric trades fell with weak demand.
The Clearing House report shows a large movement in business circles with total clearings of 2.26200 and balances of 4255. Anander explained that overall business is good, but the tone hints at cautious optimism and ongoing adjustments in the market.
Fragmented OCR shows figures for balances and clearings including 15 822 200 and 1 752 204 with unclear labels. Mentions of TIME and TIMORESE and three percent rates appear garbled. Overall impression: bank clearings around 10 427 000 and balances near several million with uncertain references.
The oil market shows fair to lively activity with good proportions traded while certificates provide adequate carrying. Titusville voted against trading in futures. Bradford rule debates continued. prices for various oils and related notes fluctuated, with limited notable news and firm quotes from brokers.
New York May 21 petroleum opened steady at high levels but quickly advanced to 821 1/8 cents. A slight reaction followed and the market closed firm at 821 1/8 cents with 506000 barrels sold.
Real estate agents report multiple sales and offerings at Baum Grove Roup station Maplewood Park and Buffalo township. Purchasers include George Campbell Mrs J Ballard Charles B Straube and W R Mooney with prices ranging from 60 to 8 800 dollars. The notes mention plans for a dwelling and a mortgage placed on two acres at Emsworth.
The New York stock market shows active trading with Grangers, Villards, and special ties in focus. Chicago operators lead purchases while Coalers and Reading push ahead. Northern Pacific stalls then declines slightly. London offers limited selling and weak early prices, but sentiment improves later with Chicago Gas and Grangers rallying and Coalers gaining in the afternoon.
Stocks listed include Whitney & Ep Stephens on Fourth Avenue with 9.60, Readine Railroad, Lehigh Valley at 2.0, Boston & Albany 04, Central Bonds near 17, and various notes for New England and Western railroads. Reads like a late 19th century ticker fragment with multiple listings and partial company names.
Mining stock figures show gains and listings for May with Caledonia at 310, Commonwealth 4, Deadwood Tine One Consolidated 270, El Crista 180, Homestake 7 ne, Hale & Nor Hi Sha a Fly Pipeatee MLO at 30, Savage 30. Market chatter notes varying prices and minor changes across several entries.
The Ohio Valley Gas Company struck an oil well on Mitchell's farm near Osborne Station on the Fort Wayne Railroad during gas drilling. Guards kept observers back as locals doubted profitability, noting few profitable wells in Allegheny County and predicting the find may yield little after investigation.
Sr. Louis receipts show 192 533 pounds in good demand and firm prices. Philadelphia notes light market and steady New York wool with varied fleece types. Eastern Oregon and Western markets attract attention while seaboard areas lag. overall prices steady with limited sales and firm Western tone.
Announcement lists the annual sale of tannels to occur next week and the sale of colored cottons on Friday. Markets kept steady with no unfavorable effect seen. overall cheerful mood noted despite the attention on upcoming events.
A damaged OCR line suggests a discovery event near a place name partially readable as Te Ee ee ne Bursola above M ecovteed. The fragment mentions an eco or economic context and a found object or evidence, but details are unclear.
Market note reports ample cereal supplies and light demand with corn drifting lower. Coffee and sugar firm, eggs and New York Chicago cheese prices firmer, strawberries quality weak, new potatoes in good demand at $5 per barrel, tropical fruits boom cooled by cool wave.
The report notes continued weakness in coffee options in New York with anticipation of falling packages unless a recovery occurs. It lists numerous roasts and blends with mixed prices, reflecting a saturated market and variable sugar-coffee comparisons.
Total receipts bulletin shows 42 cars traded with hay rye corn four malt and bran flour oats and straw across routes including Pittsburg Fort Wayne Chicago Baltimore and Lake Erie. Prices show oats and corn weak with No 2 red and white rambling. barley Canada prices vary as erie lake shore markets adjust.
An old newspaper ad fragment shows prices for sugar cured hams in large medium and small sizes, breakfast bacon, shoulders, dried beef, and other provisions. Also listed are corn meal straw packing and assorted commodities with per unit costs.
Armour and Company lists dressed meat prices including beef carcasses at 430 to 55 Bs and lambs at a stated rate, with the fragmentary report showing the ready reference for meat pricing in the market.
Wheat prices fell slightly as trades remained limited and local sellers dominated. Corn and oats showed unsettled moves with some buying support, while lard and short ribs drew interest and closed near steady amid active demand.
Cattle receipts 220 head with 200 shipped and 100 lower than yesterday. Market steady for all grades with some shipments to New York and 1 000 head in syndrome. Beef trade dull with no fresh beef traded, dressed beef prices weak and margins narrow.
Chicago cattle receipts total around 3 000 head with steady to higher prices for prime and choice cattle. Sheep and lambs show limited sales with buyers cautious as Western markets report mixed demand and volumes.
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