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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
May 28, 1892
Page
3
The report from Wilberton, Pittsburgh, and surrounding centers notes slight iron demand improvement in some steel trades but overall low prices. July stock-taking and wage-cut rumors circulate amid mixed results, with Bessemer and settler sales fluctuating and mid summer suspensions possible.
Special reports from Cutesso on May 27 note buyers, including Brown & Merein, say market demand has slackened with inventories high. Many plan to wait for month to month purchases, while some large buyers contract for year end or spring delivery. Prices edge downward as furnaces keep output, Lake Superior charcoals stay scarce, and standard briquettes trade around 25 dollars per ton.
The iron market shows no quotation yet with brokers offering No. boundry at about $1025 and No. 2 lagging. movement remains sluggish as railroads show hesitation amid late deliveries and uncertain pricing.
No authority has proposed a cause for the recent % per ton reduction to Pittsburg point. The temporary rate decrease went into effect Wednesday for one week. It is believed competition from the Tennessee river at Chattanooga may have driven the experiment.
In Cincinnati on May 27 Rogers, Brown & Co report a light week across iron market branches with buyers reluctant to press. Furnaces feel secure, expecting demand to rise, while distributors move small, prompt shipments. Prices hold firm as the trade waits for a sharp reaction.
Rogers Brown and Meacham report a general belief that prices will not fall further. Consumers reduce large pig iron stocks while anticipating favorable orders for the year. South valley activity and furnace demand push expectations of price stability and resistance to declines.
Portaphraia records a calm week with mostly small lot sales for early delivery. Some special lots forced to sale. turnover in the South shows notable softness and limited notable activity.
Pictron in moderate demand and copper quiet with Inke at 1 812 00. Lend steady domestic at 4 201 S78. Straits at 21 90 el a. The market shows varied activity as traders note dullness in some sectors.
The week shows steady dairy price declines with abundant country butter and weak demand. Poultry and eggs rise slightly amid unseasonable weather. garden produce lags, and berries improve in quality though remain expensive. Reads of seafood, meats, and vegetables follow thin trade, while florists report light but improving demand for Decora Hon Day arrangements.
Market report shows turpentine steady at 2 cents with Rozin firm and Savannah turpentine at 27 cents bid. Rosin steady with values around 105. Turpentine quiet and lower in New York with spirits of turpentine also steady. Rosin values for strained and other grades shown with varied price notes.
Mundane price movements and commodity terms span Coffeen Markets in Baitmont New Orleans New York and other hubs. Listings show coffee steady fluctuating quotes with various futures months and wool and fiber terms intermingled in the模混 text.
Activity in building shows revival in Pittsburg with permits for over 800 houses totaling about 1.5 million dollars. Wards like Nineteenth in Pittsburg and Pleasant Valley in Allegheny lead growth as weather cooperates and consumer demand rises, countering earlier dull times.
The weather and stock market weakened with little buying interest. Birmingham Traction touched a recent low before a small afternoon decline, while Duquesne and Manchester showed limited movement and other issues posted minor gains or steadies amid cautious trading.
New York May 27 The stock market remained strictly professional with limited selling power and little price movement. Bond buyers in railroad and western issues show demand as funds seek investments, while overall activity stays dull and prices scarcely change. Trading was led by Western Union and Sugar with Colorado Coal rising 3 percent to 33, and total stock sales totaling 199,518 shares.
The Friday issue notes very scarce spring chickens and firm eggs while poultry and dairy items face weather-related supply constraints. Butter remains overstocked with nominal prices, and fruit and vegetable quotients edge higher as demand signals strengthen.
Mining stock quotations from New York on May 27 show diverse prices for major mines including Best & Delechers Crown Point California and Virginia Deadwood Gould & Curry Hale Norcross Homestake and more. Silver in London rose to 40 1 2 pence per ounce while New York dealer price stood at 74 1 2 cents per ounce.
No special departure from prevailing conditions for moons. Local banking clelen shows call for money near average with unchanged rates and fair counter business. Bank clearings reach 2,446,583.99 while balances total 43,5634. Some scarcity of Eastern exchange noted. New York authority says commercial paper is in good demand from air quarters, supply only fair.
The text notes 3 to 3G percent for 6 to 90 day indorsed bills receivable and 34G to 4 for four month acceptances, with 4 to S for good singles names four to six months out. New York money on call at 1 1 14 percent. Last loan at Mg percent, closed at 1g percent. Prime Mercantile paper 295 percent. Sterling exchange quiet, 8 for 6d bills and 8 88 for demand.
An unclear OCR segment lists various bonds and financial instruments with irregular codes and numbers. Mentions include Northern Pacific, Tennessee sets, Louisiana stamps, West Shore, Gen. M., and other entities, but specifics are distorted and not clearly interpretable.
The report lists bank clearings for New York $105 576 826 with balances $5 680 967 and Chicago $15 078 100 with money easy noted. New York exchange shows premiums and varying rates including a 75 cent premium and other city figures such as St Louis and Putlaperuta with mixed money markets.
The excerpt lists varied prices for carloads of grains including oats and white middlings, millfeed and hay, and a range of sugar cured hams and other meats. It notes dealer advances, quality-based wagon delivery, and several price points for hay, oats, bran, and lard across common regional items.
Trade in May corn in Chicago shows a light, erratic session with prices fluctuating from 4c to 7c and a closing near 4.5c. The market reflects pressure from better weather and larger receipts while May shorts, led by a prominent trader, are seen trying to hold positions amid thin demand.
Reports from Cincinnati Baltimore Milwaukee Duluth Minneapolis Kansas City and Toledo show wheat prices firm or scarce in places with corn and oats varied while pork and lard move little to down slightly Butter and cheese weak to steady. A final line mentions lady cyclists of Pittsburg and riders featured in a forthcoming issue.
Cattle receipts 1 071 head with 892 head shipped. market slow with consignments. Hog receipts 7 loads. market active and higher. Sheep and lambs show mixed movement with strong western and Texan entries. New York and Chicago trends noted. cattle, hogs, and sheep varying by region.
The Drygoods Market in New York reports ongoing demand for next season prints and brown cottons. Traders note higher prices for next season prints and limited cloth availability as manufacturers hold firm on quotes.
Friday grain trade shows oats and corn movement with mixed pricing. Receipts bulletined include several railway carloads: Pittsburg Cincinnati and St Louis 8 oats 3 corn 1 hay 1 bran 1 wheat 1 straw, Pittsburg Fe Wayne and Chicago 3 oats 5 hay 1 straw 3 flour, Baltimore and Ohio 1 hay, Pittsburg and Lake Erie 3 flour, Pittsburg and Western 1 wheat. Corn up then receding. oats active with slight gains. other cereals unclear.
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