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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Oct 07, 1891
Page
3
Domestic markets report scarcer dairy supplies due to September heat reducing milk and cream output. Cheese prices expected higher, coffee markets fluctuating with large Rio receipts. Footwear and leather trade show revival after prior downturn amid reduced production and improving credit conditions.
Chicago markets show wheat rising on bullish Russia export fear and tight supplies abroad. Corn drops late as selling pressure eases, oats hold, and hog products fall with weak demand. London and Paris reports contrast with domestic strength. Market agents note low wheat for sale and short covering amid rising prices and cautious buyers.
Office market summary shows cattle and hog shipments with firm prices in Philadelphia and New York. Receipts include 20 head cattle and 1,050 hogs shipped. Yorkers and grassers noted with price ranges. market described as firm or slow depending on line.
Telegraph market notes show varied receipts across major regions. Cattle and hogs fluctuate with strong demand in some spots while others mark slower trade and steady prices. Sheep and lambs remain firmer in some markets, with New York and Chicago reports indicating exporters active and prices holding.
The Wittmer Brick Company buys the Frank Kline gas well on 32 acres in Shaler township for 16500. Kline organizes a new company for additional wells. Market chatter notes 200000 in recent realty sales, plans for blocks offices and a church, and rapid transit boosting acreage trades and a strong spring outlook.
The piece notes ample funds and easing conditions in the money market with strong bank liquidity. Gold imports from Europe are heavy while Western demand declines. Bank clearings reached 2 145 946 04 with balances of 197 853 07. Money in New York on call ranged from 4 1/4 to 4 1/2 percent.
The report lists Rr. Lorum-Clearings with 5,080,374 balances at 7.1 percent, and New Outease-Clearings at 3,551 million with a New York exchange at a discount. Chicago-New York exchange figures show 13 percent discount.
Financial brief outlining clearing figures for New York and Philadelphia markets. It lists percentages and totals such as 8 percent clearings at 176,987,988 and balances of 225, with New York clearings at 19,025,069. Philadelphia shows 12,727,155 in clearings and 1,295,090 balances.
In a bullish session holders scarce sold. Electric and Westinghouse firm with talk that Electric and Manufacturing will soon be debt free and stock certificates ready. Duquesne Traction fights through difficulties as small cars prove satisfactory with bids and asks marching through the calls.
New York stock market flatly opened with selling pressure and narrow moves. Atchison and Missouri Pacific were active early while Rock Island faced selling. Erie securities surged in afternoon trading, lifting overall market sentiment though gains faded near close.
The roster shows latest quotations for Thomson-Houston Electric Co. and pref shares, Westinghouse Trust, Eastern Electric Site Co. and European Welding Co. prices include bids and asks with firm values. Names such as Thomson-Houston and Westinghouse appear with trading figures and preference shares noted. The entry is a stock table update from Oct. 6.
The list shows various mining stocks with prices such as Homestake 10.50 and California and Virginian 650. Other quotes include Hale and Norcross 1.40 Gould and Curry 1.50 Deadwood 2.00 Eureka Con 1.50 and Ontario 38.00 plus Union Consolidated 2.10 and Yellow Jacket 0.40 among numerous others. Financial values reflect a broad spectrum of mid 19th century mining equities.
Reports from New York Boston and Philadelphia note steady to improved demand for wool with varied prices across grades. Prices range from fine delaine and combing wools to coarse and unwashed types, with Michigan Ohio and Pennsylvania showing firm to steady levels and Texas California Oregon wools trading at previous rates.
Market notes show rosin prices fluctuating with strained and good strained at 150000 dollars in New York and 110 dollars in other listings. Turpentine values remain weaker with crude at 100 dollars and yellow dip at 19 dollars.
In New York on October 6 coffee options opened weak with declines of 20 to 45 points, closing 49 to 80 points down. Trading showed 46,000 bags with October UAC at 11.75 cents and November at 10.45. Rio December futures at 10.00 with 10,000 bags. other months quoted from 10.60 to 10.75 cents. Spot Rio steady at about 16 1/4 cents for No 7 cargoes.
New York report notes cooler weather lifting business at the drygoods market. The standout trend is growing orders for next season while current stocks remain moderate and prices stay firm across staple and fancy fabrics.
The report notes dull activity in pig iron at 15 3/4 to 16 per ton and copper steady with October at 24 and November at 12. Tin remains quiet around 20 1/2, while leads and domestic notes show subdued movement.
News note on bar silver values with London and New York postings. Mentions London price around 44 dollars per ounce and New York deal pricing, reflecting market movements in late October.
The high position and universal acceptance of Syrup of Figs, labeled as the most excellent laxative, illustrate its value and the qualities behind its success, pleasing the California Fig Syrup Company.
The notice promotes Farmers' Deposit National Bank vaults at 66 Fourth Avenue with secure vaults ventilation light and women’s apartments. It also advertises Campnett & Dick grand millinery display with hundreds of hats and bonnets continuing today and tomorrow. A sale at Bocas & Bust offers Italian silk slumber robes at $1.25 each in Allegheny with a blanket department.
At the Elgin board meeting butter prices were raised 2 1 2 cents per pound from last week. Prices rise amid tight creamery supplies as cheeses and fruits show upward trends. Eggs scarce, potatoes limited, tropicals firm, and coffee and sugar markets are weak with heavy receipts.
Sales on call at the Grain Exchange cover October wheat and corn with mixed car counts and prices. Receipts bulletined total 22 cars with distribution among Pittsburg Ft Wayne Chicago Railway, Baltimore and Ohio, and Pittsburg and Lake Erie lines including oats hay barley straw flour corn wheat bran rye and corn products.
Late news notes three shipwrecks due to fierce gales in the Irish Sea. Frost hits Iowa crops with wheat blight. Minnesota reports first hard frost as snow and sleet fall in neighboring states. A St Paul Railcor freight train robbery is reported near Red Wing. Paris eyes Irish relief lands dispute with Parnell.
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