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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Nov 28, 1891
Page
3
A late November look at the iron and steel market notes uneven dealer sentiment, steady pig iron demand, and price stability with no broad gains. Foundries and steel rails show activity while coke iron and charcoal markets remain cautious amid limited transport and lingering dullness.
The Metal Markets column notes dull trading in copper and tin with prices drifting. Copper near 1.50 a pound and tin around 10.46 per unit, with little change as the market eyes moves in November.
Trading showed uneven moves as coffee futures remained near steady levels amid ongoing demand concerns. Analysts noted tight supply indicators in the market with further price fluctuations tied to speculative activity and export data.
Following the Thanksgiving week, dry goods demand shows cautious buyers and moderate inventories. Prices are believed to be at rock bottom with stocks surprisingly steady for the season.
Office of Prrocesvene District Farna reports cow receipts 158 head and ship receipts 1 448 head with no cattle shipped to New York. Hops receipts 560 head with slow market. Hogs 200 to 400 head shipped. Sheep receipts 75 head market unchanged.
Receipts and price ranges vary by city with Chicago and Kansas City showing active trade and higher native prices. Beef, veal, and sheep markets mixed with firm to slower movement amid seasonal demand and regional shifts in supply.
The market basket report notes turkey shortages before Thanksgiving gave way to liberal supply and lower prices a season low. Fresh items and oysters remain scarce. florists see steady demand with firmer prices amid Thanksgiving week activity.
New Year wool trade in Texas Missouri and Oregon shows steady demand with domestic fleece shipments totaling about 44 100 pounds and receipts near 3 400 pounds. Prices favored buyers on many lots while territory wools sold freely including a 300 000 pound Montana sale at the low end of the range. scoured and regional listings vary by type from spring Texas to Eastern Oregon.
A Mormon elder named Taylor spreads conversion in Millis Massachusetts seven miles southwest, prompting an exodus as residents, especially poorer authorities, plan to emigrate to Utah in spring. Coulter reports women more affected, and the elder plans to stay through winter to lead followers west. A stray medical ad for Jayne's Expectorant follows.
The Harrison property on Peon avenue near Shakespeare street is reported to have been sold with Kuhn Bros. as purchasers. They aim to build a hotel or opera house, though the deal must pass the Orphans' Court. The lot measures 632200 by Shakespeare street and is valued near £55,000.
The Philadelphia Gas stock feature sparked a brisk session after the holiday as trades accumulated 916 shares and about $3,000 in Duquesne Traction boards. At the first call listings showed Philadelphia Gas at 13 cents and Duquesne at 104.55 with other issues moving in smaller lots. The market activity continued through the second and third calls with bonds and assorted stocks like Underground Cable and Citizens' Traction among the movers.
The New York Stock Exchange saw a firmer opening followed by selling in Chicago Gas amid rumors of Field Lindley & Co passing on short stocks. In the afternoon Distillers' and New England helped rally the list while overall activity remained light and the day closed with small losses. Major trades included Reading and Union Pacific Denver and Gulf flats, with total sales about 1,979,000.
A list of stock prices and abbreviations from New York on November 27 includes Alice 125, Best and Belcher 220, Crown Point 110, Consolidated California and Virginia 450, Eureka Consolidated 200, Hale and Norcross 120, Home Stake 10.50, Horn Silver 380, Iron Silver 210, Ontario 3800, Ophir 325, Plymouth 25, Savage 125, Sierra Nevada Standard 105, Union Consolidated 185, Yellow Jacket 125.
Money conditions revived with a 6 percent accommodation rate and ample funds. Bank clearings reached 3 557408 18 with balances 466254 76. New York Boston and Philadelphia to receive large interest and dividends at New Year, Pittsburg adding over a million. Money on call in New York was easy at 3 to 4 percent, prime mercantile papers at 6 percent, sterling steady at $150.
New York bank clearings reach $144,376,023 with $7,540,004 balances. Chicago and Boston show large clearings and par exchange with New York. Turpentine markets across Savannah Charleston Wilmington and New Orleans hold steady or dull with rosin firm and spirits steady. Stage scenery painting preview teased for tomorrow in The Dispatch.
The Yorktown reached Valparaiso while France pledges protection of Belgian interests in China. Du Quoin miners strike against mining machines. The Texan Farmers Alliance secedes from the national body. Minister Egan hosted aboard Baltimore at Valpariso on Thanksgiving. Mexican authorities send troops north to confront Garza forces. Galveston starts a 6 million bushel elevator for upcoming grain trade. Premier Mercier of Quebec initiates libel suits against two Montreal publishers. France to prosecute Paris Figure over Archbishop of Aix subscription fee. Duluth reports a large blast furnace and iron ore output. Newfoundland told its laws are unconstitutional. Berlin grip cited with rising deaths. Milwaukee detectives pursue another gang. Tonnage pool talks advance among rail lines. Mike Dwyer, a former Philadelphian conductor, shot accidentally near Dennison. Texas and Pacific engineer Walter ree dies on burning bridge. Canyon Washington landslide revised casualty tolls. Archbishop of San France faces potential prosecution over a critical letter. Newcastle prisoner dies by prussic acid after sentencing. British naval court martial acquits Lt Freemantle in Plucky case.
Market report notes slow trade after Thanksgiving with corn and other cereals steady. Dairy and eggs steady to firm, poultry weak, potatoes abundant, tropical fruits steady, Florida oranges strong, bananas active at outside quotations. Prices for cheese, eggs, and various produce shown with regional items and per unit quotes.
Prices for sugar molasses and coffee edge up amid scarce supplies while green coffee remains above roasted. Market notes firm oats and corn with dealers adding freight-store margins. Receipts from several rail lines show ongoing demand as prices stay steady yet poised for higher moves.
Chicago wheat futures closed with a fractional gain amid a quiet session. December rose to 0, May to 99 1/2 cents, then trimmed. November corn trades under manipulation rumors tied to a price surge and a market clique. Prices swung on a cold wave forecast and Field Lindsey failures, with notable players named and profits estimated at up to 500,000 dollars.
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