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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
May 30, 1891
Page
3
The Iron Trade Review reports heavier activity since the shutdown plan. Buyers and sellers push for Bessemer pig and coke-related deals, with large monthly deliveries and prices showing wide ranges. Experts foresee gradual activity later, despite uncertain profits and cautious buyers.
Consumers remain cautious in May as the coke strike ends with little impact on prices. Iron shoppers buy only what they need, with pig iron supply meeting demand and no force sales seen. Quotes show modest activity for Pennsylvania grades and dullness in Bessemer iron while some buyers seek steel billets.
A Cincinnati telegram reports rising iron buying in the past week with firms like Rogers Brown & Co noting large orders and advances on ton prices. Southern coke and lake-ore furnaces show firmer demand, while charcoal irons remain tentative. pipes and car-wheels reflect steady activity amid varied port prices.
The market remains steady with large sales in progress as car works enter the scene as buyers. Reports from the Southwest indicate strong demand and forthcoming work, with mentions of coke, charcoal, and ore shipments and related industrial activity.
In Cariaco on May 2 Rogers Brown Mer report heavy Chicago buying easing. Leading firms cautious, some buyers covering 4 to 2 months ahead amid firmer Southern coke iron prices. Lake Superior charcoal supports prices at 18 in Chicago while furnaces favor short term bids hoping for higher summer rates.
Local market brief lists prices for metal and leather goods. Mentions standard finings and steady demand with items like dull leather and straits priced in the 13 to 40 dollar range. No clear dates or named buyers found in readable text.
The Market Basket notes fresh Pacific strawberries improving, with gooseberries, cherries, currants, eggplants from New Orleans and the Pacific coast. Homegrown berries expected for Saturday. dairy markets slow and prices easing. Ohio cheese less scarce with slight price uptick then downward. Fish markets quiet seasonally. florists report moderate demand with steady pricing for floral offerings. Meats show varied prices on tenderloin, roasts, lamb, mutton. vegetables list includes Bermuda onions, tomatoes, lemons, oranges, asparagus, radishes, potatoes, and greens with price notes. poultry and fowl prices listed. flowers and vases priced per dozen or bunch with generic floral items.
The market reports erratic trading for coffee with varied futures and options amid shifting weather signals. Rio cargoes and New York activity show cautious interest as nearby and longer term contracts adjust to nearby supply expectations.
Two well known men buy in Kensington while market reports show brisk lot sales and new building plans in Pittsburgh. Cash deals, large projects, and ongoing construction push the city’s property market higher with several notable transfers and expected future activity.
Jay Gould sees the prospect as encouraging as the local money market shows fresh cash sales and ample funds. Time loans quoted modestly with rates low due to abundant money, while outside capitalists’ activity remains uncertain. Clearing House figures for the month show a decline from May 1890 but remain near the prior period, with few exceptions.
The report shows varied balances and premiums with New York exchange at 8 cent premium and money rates easing to 8.0 percent on call and time loans. Clearinghouse totals reached $14,411,000 while New York exche commercial activity registered $903,294 in new outfits and related sums. Cinci money firmer at 56 percent with five day totals around $10,167,163 and $3,240,000 noted in related accounts.
The weekly close showed broadening price ranges and buoyant action led by Underground Cable, Wheeling, Manufacturers' and Philadelphia & Philadelphia Van Arsenal and Fourth National Banks. Electric and the Tractions were firmer on expectations about the Westinghouse reorganization, while trading noted large volume, continued uncertainty, and a weak opening for the day with mild rallies as bank reserves rose.
The stock market shows professionals largely steering prices while the public and large operators stay aloof with no immediate prospect of renewed interest. A favorable bank statement sparks a drive rather than an advance, and Louisville and Nashville is a prominent feature in the action around New Year May 21.
Fragmentary mining list shows multiple mine names and numbers across several districts including Crown Point in California and Virginia, Deadwood Eureka Consolidated Homestake Horn Silver Iron Silver Mexican Savage Sierra Nevada Union Consolidated Yellow Jacket with varied figures such as 1,030 110 1,000 45 120 25 24 20 and zero. The readable items hint at market prices or stock quantities though many figures are unclear.
Market notes from Farrar May 2 report butter slow eggs firm cereals in demand and sugars projected to rise. Old potatoes up while new Southern potatoes slide. strawberries plentiful and cheap. home grown berries expected Saturday. Bananas abundant. lemons quiet. oranges rising. California cherries lead. apricots soon. Cheese supply meets demand with lower prices. Various commodities such as eggs, beans, tomatoes and clover show mixed movement in this day’s listing.
Raw sugars advanced four cents and refined one cent since the decline, with prices expected to recover. Groceries moved actively this week and trade volume shows no sign of faltering. A long list of goods from roasted coffees to various oils, spices, nuts, and canned foods appears with quoted prices and packaging notes, reflecting a bustling market and stable broker quotations.
Grain Exchange notes on car lots for corn oats hay and other commodities. Pittsburg Cincinnati St Louis Railway and Pittsburg Fort Wayne Chicago lines account for several cars of wheat flour corn oats rye hay and more. Prices and levels hinted with lower corn and oats.
Chicago on the last business day of May saw traders avoid extending open accounts into Tuesday. New York houses and local dealers held calls in wheat aiming to lift July toward call prices, but the market failed as shorts absorbed supply. Corn remained dull with a tendency to even up trades, oats dull, and provisions firm yet quiet. News included potential German duty cuts and fresh rains in North Dakota, with Kansas receipts expected high. overall activity centered on wheat price swings and cautious trading as markets closed lower.
Sugar ease and cheese prices noted as markets show firm wheat in Baltimore and Milwaukee flour steady. Provisions, pork, oats, corn and barley quoted with cash and futures in flux. A paragraph highlights Carpenter’s letters from Mexico as premier reading for bold investors in tomorrow's issue.
Receipts and shipments across Enat Liberty and other yards report cattle receipts at 1.2 million head and hogs at 4,200 head with shipments totaling 5,500 head. Market remains steady with hogs strongest in New York transit and cattle prices mixed. Kansas City shows stronger cash cattle with steady to weak tone, corn prices easing, eggs steady at 12.40.
Wool quist and nominal stocks light as New York wool trade stays quiet. A modest upturn in demand sees weekly sales reaching 2,356,600 pounds across regions including Ohio Michigan and Texas. Prices vary by grade with fine fleeces around 62 to 67 cents, while combing and delaine fleece stocks hold steady.
An OCR fragment lists various forms of Carter's Little Liver Pills marketed for sick headaches. The garbled lines repeat the product name with minor misspellings and punctuation. No clear event or date is provided.
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