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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
May 23, 1891
Page
3
The Iron Trade Review notes local pig iron sales near week end totaling about 100 tons. It reports Pittsburg and Southern markets, freight adjustments to Pitt shore, and prices holding with limited activity as stockpiles shrink and consumption rises.
The St Louis market report notes firmer furmaces and better buyer sentiment after months of low prices. Round lots are being placed for summer and fall delivery as orders come in. Coke shortages cause annoyance while cash prices for various fuels and materials are listed with mixed availability.
The report notes little improvement in the market, with strained financial conditions and scarce foundry iron. Pig iron and steel prices hold steady, while high quality brands fetch up to 19 and 30 in various listings. Demand remains flat as buyers await clearer signals from banks and maritime trade.
The week features a sharp butter decline with Elgin creamery down 8e per lb and country rolls dipping further. Prices for various meats and vegetables vary, with strawberries, peas, beans, and lake fish in supply, while frosts and strikes limit some items.
Scrap iron handling notes describe a shipment of scrap and machinery parts, including V70 delivered for refurbishment of vintage car wheels. The entry references location 221 OH and a Sintec-rae OU designation, noting iron scrap and related components.
The iron market remains steady with no impending rise. Foundries quote prices varied by cents, production at capacity and stocks kept low. Trussville furnaces idle, a syndicate faces stockholder opposition, Anniston pipe works change hands, and Bessemer Mills ships iron pipe to Baltimore marking the district’s first export north of the Ohio.
A syndicate plans a 20 year lease on ten acres of the Captain Ward estate in the Thirteenth ward to build 100 dwellings. Work to start after the carpenters’ strike ends. Local capitalists promise new development and higher surrounding property values. Night cars on the Second Avenue line urged to aid workers in the Twenty third ward and downtown.
May 22 Chicago reports improved market conditions with higher prices and stronger activity among iron melters. Lake Superior coke iron prices rise while lending rates hover around 15 dollars, coke irons grow scarce for immediate delivery, and Connellsville strike could worsen supplies. Southern coke irons move in round lots as inquiries for extended deliveries stay heavy. Market sentiment turns hopeful, tied to crop outcomes.
Xin Yon reports dull May trading with 16 W0ge1s for nominal. Ameri can is noted at $1190. Lead is steady and firm domestically, while tin remains quiet and easier with 20 W.
A gardening letter for women in The Dispatch tomorrow highlights how soil nourishes both body and art. Shirley Dare explores soil as source of health and poetry, inviting women readers to connect with nature through gardening.
The money market shows no material change amid gold shipments with funds loaned at 4 9 16 percent on call and 4 7c on time. A surplus avoids danger of stringency, while the Bank of England and France adjust discounts by selling consols or raising rates to attract capital from Europe and America.
Low water presents an opportunity to scrub river packets and clear riverfront. Markers on the Monongahela show 6 feet 2 inches with a slight rise in the past day. Wharf master O Toole oversees cleaning of wharves to the low water line and overhaul of Scotia and other vessels moved to Brunet's Island.
New York financial summary shows clearings at $105,798,73% with balances $440,083 and commercial exchange at 35c per $1,000 premium noted. Boston clears balances at a similar level and details on exchange with Chicago are incomplete.
New York trading opened with lower prices and closed at the day’s highest levels as bulls gained on a Germany Russia gold import halt claim and Bank of England premium rumors. Major gains spread across leading shares including Union Pacific, La, Rock Island, Louisville and Nashville, St Paul, Cordage, Sugar, and coalers, with industrials and transports rallying and most bonds quiet.
Local stocks showed little enthusiasm with trading slow and few bids. The Boston ledgers reported minor moves in New York and London while several issues such as Citizens' and Pittsburg Traction drew no bids. Traders warned of a possible rate war and awaited the reorganization plan as Electric and other shares remained lackluster.
Total stock sales in New York yesterday reached 385 730 shares. Top movers included Atchison 22 175 Delaware Lackawanna and Western 16 470 Louisville and Nashville 16 080 Missouri Pacific 6 675 North American read 1 SOS opened and West Point 533 5 Paul 13 170 Union Pacific 15 500.
Readable text shows scattered mentions of Boston Atlantic and Mont lines with stray abbreviations and numbers. No clear event or person emerges. record captures a damaged transport or company reference with partial place names and affiliations.
Rostov reports electric stock quotations with listed firms including Thomason Houston Fleet Electric and Electric Cable Company. Market oddities show mixed prices as traders monitor limited trading volume and shifting demand in a niche utility sector.
New York quotes show Adams at 175, Ontario at 3300, Homestake at 950, Iron Silver 100, Deadwood 120, Horn Silver 350, Alice 160, Ontario 3300. Market activity noted alongside European news in Bright Cable Letters in The Dispatch tomorrow.
Receipts show cattle at 87 head, shipments 64, no cattle shipped to New York. Hogs receipts 5,150 head, shipments 3,000 head, market fair with Philadelphia 4.90 to 4.95, best Yorkers and mixed around 4.78 to 4.80, pigs 4.00. Sheep receipts none, shipments 200 head. market steady to good pace.
Fragmentary OCR notes show unsettled delivery terms for textiles. Flannels and dress goods move in large transactions while leached goods remain scarce. Stockings rise in price and flannels show up to 12 percent gains amid cautious market activity.
The market sees rising prices for strictly fresh eggs due to continued tight supply. Creamery butter remains quiet as country butter inflows swell. New Ohio cheese is scarce despite some weekly improvement. Strawberries are abundant but slow at seasonal lows. oranges and lemons steady. other fruits and vegetables show varied but firm pricing with a broad range of grocery goods listed.
The Grain Exchange notes 36 cars traded with 33 cars via Pittsburg Ft Wayne and Chicago Railway and Baltimore and Ohio lines. Cereal markets edge lower as rains pause movement. wheat, oats, rye, and hay prices show weakness while choice hay remains firm.
Chicago traders saw a bear market turnout as winter storm fears faded and heavy receipts plus export rumors weighed on July wheat. Corn and provisions fell with weak grain futures while cash foods showed firm or mixed readings across markets from Minneapolis to Philadelphia.
Wool market in St Louis and various states remained quiet with light stocks and steady prices. Demand for domestic wools was moderate while washed and unwashed combing fleeces showed mixed activity across Ohio, Michigan, California, and Texas, with some grades selling up to 45 cents and others softer.
Special telegram reports bullion dealers set the bar silver price in New York at 745 per ounce in U.S. dollars.
Market notes from Savayyvan May 33 show turpentine prices around 3se with steady crude and yellow dip along with firmer rosin bids. Assemblages cite good strained rosin near 141 45 and steadiest steams of turpentine at 140 for crude forms.
In a feature set for tomorrow's mammoth edition, The Dispatch previews Bill Nye’s family history of service to royalty during their heyday, promising a detailed look at lineage and legacy.
A herd watches a Florida-like clash as a young bull and an alligator fight near a San Juan river bank. The bull wounds the predator with a horned strike, but both animals suffer fatal injuries amid a chaotic struggle witnessed by travelers onboard a ship bound for Nicaragua.
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