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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Oct 20, 1891
Page
3
Large hog slaughter leads to tumbling prices as farmers face lower selling values. Market pressures ease later in the season with potential recovery signals noted by analysts.
Market recaps show prime beef scarce while common and low grade cattle are abundant. Sheep and lambs are plentiful and cheaper though hogs show steady to lower prices amid large Chicago receipts and mixed regional supplies. Receipts from Ohio Pennsylvania and Illinois influenced overall prices with top beeves around 10 to 16 dollars per car load and bids for cattle down from prior weeks.
The report covers cattle, sheep, hogs, calves, and feeders with mixed demand. Prices show some grains and beef steady, others weak, as shipments and receipts vary by region and grade.
Kansas City cattle receipts 979 head with shipments to 300 each and market steady. Steers and cows quoted at 2.00 to 3.00 with varied loads and stockers. Luge receipts 4,990 head with market steady and bulk values around 2.14 to 3.0. Sheep shipments 3,700 head with market weak.
Bears led declines in wheat with heavy selling as markets abroad and domestically weakened. Cash and futures fluctuated with sharp moves from New York to Chicago. export hopes offered brief support as conditions remained bearish and receipts ran high.
The piece argues Pittsburg must publicize its iron glass coal and coke strengths to broaden markets and counter quiet manufacturer efforts. It cites banking growth in 1891, stock market contrasts, and ongoing real estate and infrastructure developments as context for a publicity push benefiting the city’s economy.
Bank clearings rose to a record level in the latest report with a total of 3 776 280 dollars, indicating stronger business activity. The figures reflect continued high balances and a bustling cash market as banks see increased customer transactions.
The opening day reports indicate strong merchant support with good call for money, signifying merchants and manufacturers not in distress. Business activity is satisfactory, funds ample, and rates stable around 6.7 percent for standard loans. In New York money on call remains easy with quotes around 3 percent. Sterling exchange remains steady at 4.90 for 60 day bills and 4.83 for demand.
Closing bond quotations show varied activity with listings mentioning Pacific lines and railroad issues. References include St Louis iron works and Pittsburgh area notes, noting several issuers and regional utilities alongside general market movements.
The report lists bank clearings and balances for cities including St. Louis and Cleveland, New York exchange discounts, and money rates. It notes varied figures such as New York clearings totaling $94,059,384 and Boston clearings at $17,220,062 with money rates around 4 percent, reflecting regional banking activity.
Market notes show renewed faith in fuel related shares with Philadelphia Gas leading the gains. Strong private demand supports five year fuel supply prospects though traders await clearer clearance before sizable buying. Coal stocks stay dull amid fresh strikes and electric firming only at last call.
Traders focused on covering shorts but gains faded as prices pulled back. Polman and Adams Express led declines, while Van derbilt and New York Central showed strength. Total volume was light at 160,072 shares with minimal bond activity and several stocks closing near opening levels.
New York Oct 19 Adams Consolidated 185 Alice 150 Aspen 250 Best and Helpher 2 Chollar 105 Crown Point 135 Consolidated California and Virginia 499 Dead wood 19 Eureka Consolidated 150 Gould Curry 1 Hale and Norcross 115 Home stake 1050 Horn Silver 4% Iron Silver 140 Mexican 21% Ontario 400 Ophir 275 Plymouth 90 Savage 250 Sierra Nevada 120 Union Consolidated 200 Yellow Jacket 150
Coffee firm Rio de Janeiro and New York market summaries show steady Rio prices and varied futures. Receipts, purchases for the United States, and shipments are listed for Rio de Janeiro and Santos with stock levels. options opened steady with mixed successive months, spot Rio quiet and steady.
Market notes show New York and Rosin trading steady with firm firmings in several lines. Crude turpentine remains steady with prices around 100 to 190, and rosin shows firmer bids near 120 to 122 dollars in quoted sessions.
New Tors stock market notes that demand was fair with orders for spring remaining the feature. There was some spot demand and light activity for future wants, especially in cotton goods.
New York letters indicate Pilgrim iron quiet with prices around 1575 to 1800. Copper remains nominal in Lake October trade. Domestic lead dull and easier at 43245. Tin steady in Straits at about 2005.
The St Louis market notes slow demand with an easy tone while flour weakens. No. 2 red wheat and corn show firm or mixed futures with various bids and closings. oats dull. rye firm. burley and dairy products varied. pork and lard prices listed.
Distress in Rusein causes commercial failures. Three murderers broke jail at Benton yesterday but were soon recaptured. Five killed and many injured in a Silesia rail collision. Thirteen smugglers captured on San Juan Island by the Walcott. Balvador agents failed in Europe to secure a loan of £200000 and were recalled. Mrs Fra G White sues A E Cramton for $40000 damages. Sir Henry Wood praises the World’s Fair in London papers. Viennese church authorities probe Catholic heresy linked to holy coat exhibit. General Leon Bolanos fled Honduras after resigning. The Pope laments French pilgrimage attacks. A German surgeon notes wounds from small calibers heal better than older rifles. The Lebanon Observer reports editorials spark town clashes.
In Tallahassee on October 19 the Secretary of State affixed seal to joint session proceedings showing Call’s May 26 election to the U.S. Senate. Attorney General Lama declines mandamus action to force the signing of Davidson’s appointment per Governor Fleming, while Hawaiian Minister Carter lies ill with kidney and heart complications and poor prospects.
Spot cereals steady while futures drift downward. Creamery supplies fall short and prices ease. Potatoes and apples move with mixed tones of strength and slack demand, while butter and eggs show tight and uneven availability. Administrative notes hint at broader market softness in agricultural goods.
Spot cereals steady while futures weaken. Cars of No 1 oats and mixed oats sold by various lines totaling 57 with Pittsburg Cincinnati St Louis leading. Hay and bran movements noted with middlings and flour receipts. corn weak and prices lower. Wheat and corn quotations indicate softer trading.
Moon township residents face a puzzling blaze that consumed Homer Torrens barn and crops. Investigators found tracks of two men, one with stockings and no shoes, trailing toward Crafton. With no insurance, Torrens faces an immense loss and possible arson.
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