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Newspaper
Pittsburgh Dispatch
Location
Pittsburgh, Pennsylvania, United States of America
Date
Sep 20, 1890
Page
3
The market for iron and steel remains brisk with weak raw iron prices and firm gray forge iron. Bessemer steel shows weakness with rumors of large sales below quotations, while finished products stay in demand and producers rush to replenish. Reports cite 5,000 ton sales near 1525 and similar bulk deals, as buyers struggle to secure lower prices.
Iron market in Philadelphia shows activity with inquiries from large buyers and firm prices. Iron and steel products vary by item with limited business on bars and ready-made shapes, while demand for pig iron and sheet products remains strong though shipments and production face adjustments.
A dispatch from Delaware notes little change in the Shetrom trade since last week. Prices remain firm at quoted levels while expected advances have not arrived. Steelmaking draws attention as a Henderson Company report claims costs of 2 dollars per ton or less with crane equipment and labor. A New York committee seeks capital to build a large steel plant for the fracture of steel rods, with several financiers ready to invest pending expert confirmation. King John Furnace No 4 at Hesermer is blown in with ceremony, marking a 150 ton capacity addition and expansion of the Iron Company’s operations.
A Cincinnati telegraph report notes a fair aggregate of business this week in Southern coke and related products with small to medium lots moving at revised prices. Demand remains uneven as furnaces face scarce car availability and rising concerns about future price directions. Southern coke Nos. 1 to 3 and various charcoal grades are cited along with notes on ore and milliron trends.
Fragmentary OCR text mentions a sale and local officials but lacks clear names dates places or actions making precise summary difficult.
The market remains quiet with limited weekly buying though some Southern coke iron blocks have sold. Silvery iron and softeners are in demand while Lake Superior charcoals stay inactive. Southern furnaces offer small early-delivery concessions but overall district furnaces maintain firm terms for scattered deliveries. Large activity persists among melters, car works, machine shops, and foundries with heavy orders on hand and more business offered than can be handled.
New York markets show dull and steady tone for pig iron with copper and lead prices reported, September figures around 16.75 dollars, copper and tin values noted as firm yet buoyant in sectors like domestic supply and straits trading contexts.
Offfice of the Pittsateo Dispatch records cattle receipts of 1 286 head and shipments 1595 head with a quiet market due to consignments. Two carloads of cattle shipped to New York. Hog receipts about 300 head and 1500 head to be shipped with a active market. Three cars hogs shipped to York. Sheep receipts 100 head, shipments 700 head with the market generally subdued.
Chicago reports 8,000 cattle receipts with mixed Texas and native stock and high variation in prices across classes. New York notes 274 cattle receipts and firm dressed beef at 64 cents per pound with 1,218 res and 4,560 quarters reported. Cincinnati shows lighter cattle trade and firmer sheep demand, while Kansas City and St Louis list steady to firm hog and cattle markets with various price ranges and shipment totals.
River news notes limited water levels though headwaters show hopeful rise. Several towboats move with empties bound upriver amid forecasted heavy rains, while coal shipping remains hazardous at high levels. Captains Christian and Kerr provide updates as vessels frequent Pittsburg and Cincinnati routes.
The article notes a surge in money demand and liberal policy needs to fuel growth across industries. It cites higher business activity, banking and railroad gains, and expanding manufacturing. It reports on trustees’ duties, a Massachusetts Supreme Court ruling on Union Pacific investments, and recent building permits and real estate transfers reflecting a robust but uneven market.
The local market shows no material change from prior days, with 170 shares traded. New York and Cleveland Gas Coal and Philadelphia Gas lead active interests, small price moves, mixed gains and losses. A. Robinson introduced the stock collateral loan offer, but no acceptances followed.
Local bankers report financial squeeze easing with ample money for fall business and new enterprises. Crops priced well for farmers, loanable funds moderate, rates steady at 6.7 percent. Clearing House large and well distributed. exchanges around two million ten thousand with money on call easing in New York. Prime mercantile paper at 7 percent. sterling steady at 80 1/2 percent.
The bank and stock table shows New York and London clearings and balances for major cities, with bullion movements, foreign exchange, and interest rates. It lists totals like New York clearings $152,712,728 and balances $14,498,28, Philadelphia and Baltimore figures, and notes money at 5 to 6 percent.
Oil opened unchanged from prior close, then dipped and briefly rose to a day high before falling again, ending at a loss of 4 cents. Trading showed some strength but failed to recover, with Buckeye hardly mentioned and Old Market features noted by John M. Oakley & Co. Buckeye, No. 115 Fourth Avenue, reported quotes for puts and calls around 80s to 82.
Market notes show varied opening highs and lows with dull to mildly active closes. New York reports dull trading. Pennsylvania and Lima oil markets list mixed prices. overall daily sales reach 173000 barrels with several ships and clearances noted.
In New York on September 19 the market showed a decidedly easier money feeling with little fear of immediate trouble in securing accommodate payments for the 4 per cent bonds. Banks face pressure but a cash drawing of about 000 leads some to think money is being boarded. Bears push a temporary easing view, but confidence remains cautious as treasury absorptions and bears drive no strong movements. Trading shows reduced volume and a narrow fluctuation range, with initial strength in low priced shares fading as shorts cover and long buyers re-enter.
Upward movement extended with notable gains in industrials led by Big Four Minsport Pacific Wheeling and Lake Erie and Mobile and Ohio rails. Sugar Sugar and other issues held gains as bonds gained strength with railroad bonds active. Net daily advance around 4 2 percent with a strong finish and, despite a NY exchange discount, money moved west.
Market notes report slow activity at Diamond market stalls with grapes remaining a staple and California fruit in good supply but pricey. Dairy prices weaken slightly, butter wholesales high, oleomargarine rising, and fish supplies constrained by storms yet Western catches improving. Meat and produce prices vary with beef, veal, and mutton listed, and a wide range of ocean products and flowers offered at local stalls.
New York September 12 There was general improvement in the drygoods trade due to good weather and rising confidence. Jobbers remained fairly active as nearby trade returned and orders from exporters for the Eastern market increased for future delivery. Cotton market tone remained strong with talk of higher prices. Prints showed moderate demand but were in good shape. Whisky Markets Cincinnati Whisky steady at 112 dollars.
Market wrap reports stronger grain and hay, oats firm, improved demand for choice potatoes and tomatoes, creamery butter slow as oleo substitutes rise. Eggs firm, apples and tropical fruits mixed. prices quoted for berries, melons, citrus, cider, cheese, syrup and poultry. Numerous item prices listed with regional supply notes and an emphasis on higher wholesale activity.
The active movement in this line of trade shows no abatement with goods moving freely and prices steady. Sugar and coffee firm, roasted cheaper than green, and teas firm after the latest advance. canned fruits and molasses vary by grade while spices and breakfasts list varied jobbers prices across oils, syrups, and dried fruits.
Twenty line fragment shows steady cereais with firmer hay. old timothy bay at $14 per ton. Grain Exchange cars list oats hay rye barley flour and corn by railways Pittsburg Cincinnati St Louis Baltimore and Ohio and others. Prices given for wheat oats rye flour and millfeed reflect carload on track terms with multiple grade distinctions.
Fragmentary market item notes show wagon load pricing for clover hay and grain. Entries mention wheat rye and oats with figures like 113 0 and 70 cents per unit. The fragment references packing and quality signals, but lacks complete details or dates.
A fragmented OCR inventory of sugar cured hams shoulders and bacon notes with assorted prices quantities and brands. Items include sugar cured hams large medium and boneless shoulders, dried beef flats rounds and bellies, skinned shoulders, breakfast bacon, lard refined in tierces and tins, smoked sausage and resh pork links.
Markets by Wire reports a unsettled and weaker tone across grains and pork in Chicago. Wheat and corn show declines with May futures rallying yet closing lower. oats and barley firm early then easy. pork and lard mixed with softer prices later. The piece notes limited outside news and a bearish local crowd pressuring prices, with minor damage reports from Nebraska and a freeze reaction. Numerous futures quotes and cash prices across wheat corn oats and livestock accompany the market snapshot.
Cincinnati reports light demand for flour as wheat holds firm at No. 2 red and mixed grades. Pork steady, butter active, cheese unchanged. Milwaukee notes quiet flour and easy wheat with No 2 jet on track. Provisions steady with January pork and lard at set levels. Duluth shows weaker wheat amid broader declines. Toledo wheat weak cash and future, corn dull, oats firm, oats steady, and barley quiet with mixed futures.
Active wool trade reports indicate robust sales totaling around 6.7 million pounds. Territory wools strongest with scoured prices around 67 and 68 cents, while Texas Oregon and California wools show mixed demand. Combing and washed consignments vary by region with Ohio Michigan and Canada listed in various price bands. Also a mention of Carter's Little Liver Pills for headache relief.
Lawrenceville resident E. H. Price, a blacksmith with Sheffer Bridge Company, describes catching a severe cold while working in a draft. He details catarrhal symptoms, nasal discharge clogging breathing, throat irritation, and ear noises as his condition developed.
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