davidaulloa/AmericanStories huggingface dataset:
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04
IRON TRADE REVIEW.
The Local Market is FeatureleSS, but
Very Strong in Its Tone.
FINE OUTLOOK IN NEW YORK,
Lower Prices in st. Louis, Southern Sellers
Shading Quotations.
SOME CINCINNATI SELLERS BEARISH

The iron trade has developed no new feat
ares the past week. The tone of markets
for Bessemer iron and steel is strong. There
are no signs of reaction to the boom OF
the past few months. The drift is
still upward and unless our iron masters are
very off in their calculations we have entered
upon year of great activity in this leading de-
partment of Pittsburg's Industries.
Said one of our leading iron brokers to-day:
I'VE are now having quiet time as we expect
to have at this season of the year, but can see
no signs of reaction to the present boom. The
furnaces and mills are generally sold ahead,
and BUYERS are well stocked up so that trade
is somewhat quiet as COMPARED with what it
was few weeks ago. Some Spectators who
have been carrying heavy loads have at
tempted to unload the past week
at top prices and have failed TO do So but do
not regard this as any indication of weakening
markets. This is the season when buyers for
legitimate trade want little, having laid in full
supplies in the closing weeks of the year. Whlie
demand has not been so strong the past week
or TWO, the tone of markets is strong, and all
signs point to activity and strong markets tor
the year which is now a new year"
At the Edgar Thomson works furnace + beat
all former records in its output of No. Bes-
semer iron for the month OF DeSem0e[; o0 t Inc me
total output that month was lO,6OO tons, an
average of 342 tons every "a hours for the month.
The two new furnaces, H and /, which are tast
approaching completion, are expected to pro-
duce much larger results. When these Two
furnaces are in operation the output at the
Braddock works will reach 500 tons daily, ana
an active market for this amount is assured Ior
the year to come at prices $40 per ton above the
rates of last summer.
The following prices, which have ruled for a
few weeks past. are fully maintained ana
when the Quietness incident TO STOCK taxing
and repairing is once over further advances are
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04
IN QUITE BRISK DEMAND.
The Efect of tho Excitement In Scotland
Reflected Here.

The Efect of tho Excitement In Scotland
Reflected Here.
ESPECIAL TELEGRAM TO THE DIsPArcH.1
PHILADELPHIA, January 2-The pig iron
market is closely watched by everyone inter-
ested in the iron trade, because it is the bar
ometer which is relied upon to indicate ap-
preaching storms. When the output of manu-
factured iron is greater than the demands of
business require the falling off in consumption
and the glut that is likely to ensue Is at once
indicated by sluggish movementin in the pig iron
market As yet this branch of trade is brisk.
During the last six months the Thomas Iron
Company marketed 100000 tons of pig iron at
advancing prices. There has been some dispo-
sJtion among furnace men TO let this company
set the price for 1890 and accordingly the fol-
lowing notice. issued to-day by President Clark,
will be read with interest:
We are ready to contract up to July for No.
pig at s2D per ton, and No. at S19, free board
at Perth Amboy. Gables announce an excited
market in Scotland, and the price Of Scottish
rants has advanced to 66 shillings. an advance of
nearly shillings for the week, being the highest
point reached since the boom set in. n OF only is
the demand good abroad, but material and full ore
costly, and circumstances combine TO keep the
foreign manufacturers out Of the American
domestic producers. Pennsylvania is feeling the
eneets OF the vigorous market. and many cities
cation Of new industries in their towns are also
dong something to encourage the enlargement of
manulaclofles already established. In this way
new pudding furnaces and boilers are added to
old mills and steel plants are being enlarged by
1ve-ton eonverters; Other healthy signs are that
the Lackawanna Iron and Coal Company of
Scranton. have increased the wages of their EN-
ploYes 10 per cent, and that Oliver Bros & Phil
lips of Pittsburg, who were granted an extensi
in 1885 on an Indebtedness Of S 500 600 will meet
the final payment on their obliGations next MONTH
The following quotations will hold good.
Muck bars e3l 50G32 per ton; soft steel billets
S3S63S so; manufactured iron and steel tank 2 al
6275c; she'll 265G3c; fange. 325c; frebox. 375c:
angles 23O6275c. Manufacturers still hold
steel rails at $35, but there are charges of re-
selling below that figure.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04

in the day the shorts entered the field, increas-
ing the business and accelerating the advance.
The dealings we're led by the Coal stocks,
Missouri Pacific, ST. Paul and the Lead trust,
and all Of these stocks were conspicuous Tor
strength. There were rumors OF the covering
of large short interest in the Coalers, and no
other explanation was offered for tneir extra,
ordinary strength in the face Of the general
unsatisfactory condition OF the coal trade.
There was some hammering OF Missouri Pacinc
and st. Paul, but the impression was scarcely
percepti6le and the effort % shoIxsd p.e I51n
and both soou recovered the value OF the rights
which were sold at from to II per cent. Lon
don, which has been standing aloot from this
market for the past few days, showed signs OF
more interest and Louisville and Nashville,
Erie and other favorites OF that center exhtb-
tied more life than of late.
The opening figures were irregular, but gen.
orally small fractions higher than last evenings
figures and although the market was extreme
ly dun, the strong tone became apparent, and
general advance all along the line took place,
and although there was partial reaction after
the first demand had been satisfied. the easing
of of money in the afternoon brought in more
buyers, and marked improvement took place
in the temper of the dealings, and from that
time the upward movement met with no check
during the afternoon, and the close was fairly
active and strong and ABOUT the best prices OF
the day.
duced into the department yesterday, was more
active, and sold up fractionally higher than its
best price of yesterday: The entire active list
up IT, Missouri Pacific 1sz, Louisville and
Nashville u, Sugar IA, St Paul l1S and Read
lngL
Railroad bonds maintained the usual volume
of business, but the interest in the dealings
centered entirely in stocks to-day, and there
were few changes of note and no feature of in
terest. The sales were 81, ,020. .0O0 but there was
no special animation in any one issue. Chicago
and Illinois consols rose to 10. New Jersey
Midland frsts lost 21< at lib.
The roIlowlng taoIe SHOWS Ens prices OF active
day. Corrected daily for THE DISPATCH by
WHITNEY STEPHENSON, oldest Pittsburg MEM
bers Of New YORK Stock Exchange, 81 Fourth ave-
nue.:
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04

The Wool Markets.

PHnADELPHIA-Fleece wool in improved
demand; Territorial wool quiet; Ohio, Penn
svlyania and West Virginia, Xxx and above,
5316@341zc; K, ,3l@33c; medium, 3615@3Sc; coarse.
36G37c; New York, Michigan, Indiana and
Western fine or K and Xxx, 29@31c; medium,
S611@S715c: coarse, S516@361<c; fine washed de-
laine and Xxx, S31s@56c; medium washed comb
ing and delaine. 39@Ac; coarse washed comb
ing and delaine, 37@3Sc; Canada washed comb
ing 33@35c; tub washed, 32141c; medium
unwashed combing and delaine, 2sQSOc: coarse
@22c.
BOSTON - The market for wool has been
steady and the demand good, considering the
time of year, the sales of the week amounting
to 2761, ,0e0 pounds foreign and domestic. In
prices there is no change to notice. Combing
and delaine are strong features of the sltua-
ton and sales of the latter are reported at 800
$3.50 for Ohio and S5c for Michigan. Consider
able Eastern Oregon sold at 15@l61S and choice
at l9c. Territory has been selling fairly at $50
60c for fine 55057c for fine medium and 50@53c
for medium. Spring Texas sold in small Wav
fieeces S Steady % 1T SOC. Ohio E sold at SSIssc,
and Xxx and Xxx and above at 34035c. The
stocks of domestic on hand here at the begin
ming ofthe year amounted to "a, 394 900 pounds. in
Guiding 607l, 900 feeces 26O9 900 pulled, 4s5,
900 California spring. 048, 900 California fall,
2S75,000 Oregon, 900 secured, 7.1Sl 900 Ter
ritory, ,405.OO0 Texas 752,00O Kentucky and
other Southern and l25 900 sundries. The stock
of foreign wool was IL, 900 pounds Cape, 1903 900
Australian, 5000 MOntevideo, 10000 English
and Irish 5000 Russian and Bagdad, 100.0 600
East Indian, 1l5,OO0 camels' hair nOils and
3,Sl0O0O various kinds of foreign carpet; total,
5,4l600O pounds; total stock of foreign and do
mestic, g. $1,000 against is, ,856 900 on Janu-
ary last year, an increase of lO954, 900, OF
which 7,22S, 900 is in domestic and US, 900 in
foreign.
The Boston Commercial Bulletins annual
telegraphic canvass of the wool supply in the
United States shows heavy increase over last
years. The detailed and classified reports
from the markets and the growers show a total
supply in dealers hands of 10000, 900 pounds
domestic and Is, 600 900 pounds foreign, against
$4,000 900 domestic and II 600 900 foreign in 1885,
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04
EXCEEDINGLY FAVORABLE OUTLOOK.
Most Encouraging Adyices From the
NIetropolis for the Trade.

Most Encouraging Adyices From the
Metropolis for the Trade.
ESPECIAL TELEGRAM TO THE DISPATCH
NEW YORK, January 3.-The year opens with
exceptionally favorable indications tor the
iron and steel trades. The output of furnaces
East, West and South has been contracted for,
and there is a very strong inclination among
consumers of foundry and forge irons, as well
as Bessemer, to extend contracts to still
more remote deliveries, lest the present
strong upward tendency should lead to a still
irons have advanced 81 and S. per ton within q
year. while at some points Bessemer pig has
advanced SS69. A marked advance has also
taken place IN lake ores, and the advances
in these crude materials extend to the various
finished products. The furnace output is
heavier than ever before; the mill production
is also very heavy, and in the opinion of excel
lent authorities, will so continue throughout
1890.
The extent Of the demand for steel rails is
still one of the uncertainties. Railroad build
ers have not yet decided what they Will do. Re
pair requirements will be very heavy, but the
demand for the construction of new roads has
not yet been determined Blllets, blooms and
slabs, and material for soft steel pur-
poses will crowd existing capacity and
ample preparations are being made for such
extensions as will enable consumers to supply
their wants promptly. Barbed wire is selling
remarkably well; nails are moving freely IN all
markets, and builders, carriage and all other
kinds Of hardware are active. The demand for
material for heavy machinery and for engineer
ing and railway purposes is also important.
Opinions as to the future are that the growth
of the country will warrant an increasing de-
mand for manufactured products.
Whether the present booming tendency in
the iron trade will terminate as others have
done cannot now be foreseen. One fact which
argues the permanency of the existing demand
is that foreign markets are not IN position to
overrun the American markets with their pro-
ducts.
Nothing is doing in tie foreign copper mar
ket. Business is also quiet here, with Lake
Superior ingot quoted at l4Ql415 cents per
pound. The leading copper shares on the Bos-
ton Stock Exchange continue strong, though
inquiry is not unusually active.
Iron and steel prices lat mill or furnacel:
Pig iron, anthracite, No. January 8. 1890,
SI9 506120 90; December q, 1882 SIS 5000; jan
uary 4, 1884, SIS Steel rails-S35 S2SG30, S26
Comparative prices of other metals lin store):
Copper lake. / pound, 1440c, l4<c, 1730c
1015c. Lead. common domestic, pound, 99215c,
3S715c, 39Oc. SIC. Tin, straits, pound, 81 2Oc,
2lc, 2LS7c, 1910. Spelter, common domestic,
pound, 640c, &c, 46c.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04

THE Safe Deposit Company will elect di-
rectors on Tuesday, January a.
OF % mortgages recorded yesterday, the
largest was for $4,000, Ritter & Conley mort
gagors and c. w. Cass mOrtgagee.
The condition of Mr.. James Herdman, of
the Dollar Savings Bank, has improved SO much
that his friends hope TO see him at his post
again in short time.
MEssRs. JOHN E. AND DAVID SHAW. for a
long time members of the Oil Exchange, have
gone into the real estate business and opened
an Office on Fourth avenue.
THE sale of the vacant lot adjoining the Dol
lar Savings Bank, on Fourth avenue on Mon
day next, is likely to show lively competition,
as it is the only vacant ground in that part of
the city.
THE tempting offer of an abundance of gas
and cheap territory continues TO draw invest
ors toward Jeanette. A large stove foundry
is the latest enterprise talked of for that enter
prising town.
ALBERT PARSONS, teller of the Dollar Saw
ings Bank, is dangerously ill at his home at
Ingram station, with but slight chance for his
recovery. c. H. Love is convalescenL He was
able to be at his Office yesterday.
GEORGE LAYBERGER, formerly brass roller
at the rod mills of Carnegie, PhIpps & Co. at
Beaver Falls, has formed partnership with
several capitalists of this city, and the plans
are now being drawn for an extensive rod mill
to be located in that town.
THE Oliver Iron and Steel Company will next
month make the last payment on the indebted
ness of the firm of Oliver Bros & Co., resulting
from an extension granted by their creditors in
1885 The amount is $500 900 and will discharge
the last of an obligation that originally
amounted to 81, 100000
THE public is very curious to know who pur-
chased the Beamer and Schmertz properties in
Bellfield. Mr. Mckinley denies that he is the
man, and no one has yet been found who is
willing to acknowledge that he had hand in
the transaction, which is one of the mysteries
of the day. Perhaps it was McGinty.
DIVIDENDS, semi-annual, were declared yes
terday as follows: Union National Bank, per
cent: German Savings and Deposit Bank,
southside, per cent; Allegheny Bridge Com
pany, 81 per share; Real Estate Loan and Trust
Company, Allegheny. per cent; Northern Lib
critics Bridge Company 50 per share.
IT was incorrectly stated yesterday that
James h. Thompson and A. ]. Hopkins, of
Samuel W. Black q Co., had accepted similar
positions with Black q Baird. They have en-
tered into partnership with John F. Baxter,
and may be found at Baxter, Thompson a Co.'s
office, e6 Fourth avenue. They are all young
active and pushing men, with long experience
In the business and wide acquaintance among
property owners, and ought TO. and no doubt
viii, succeed.
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04
DOMESTIC MARKETS.
The Lull That Follows Holidays in
Trade Lines Here.
CRANBERRIES SCARCE AND FIRM.
Cereal Situation Unchsnged---NeW Shelled
Corn Weakest.
AN UPWARD MOVE OF SUGAR STARTED
OFFICE OF PITTsBURG DISPATCH,
FRIDAY. January 3. 1890.

Country Produce-Jo bling Prices.
Trade is very quiet at old rates. There is a
fair demand for good creamery butter, but low
grades of all kinds Of butter are slow. The egg
market is sluggish, owing to mild weather. A
sharp frost would send prices up at once. A
rise in cheese will be due in the next week or
two. Cranberries are scarce and firm. Advices
from sources Of supply show that stock in the
hands of growers is unusually light. For choice
stock sl3 per barrel was quoted in New York
yesterday. Demand is not so active since the
holidays, but prices are very firm. Potatoes are
steady. SweeI potatoes are scarce and firm at
quotations. The usual luIl tnat follows holl-
days q fully on, but produce commission men
with one accord look for an active movement of
stuff after January settlements.
BUTTER-Creamery, Elgin, 90@31c; Ohio do,
HH@2Sc: fresh dairy packed. A@26c; country
rolls 23@24c.
BEANs..Nayy hand-picked beans. 81 2502 30;
BEEswAx-8QSOc p d for choice; low grade,
16Q2Oc.
CIDER-sand refined, SO 5O@7 so; common.
s. 5OQ4 90; crab cider IS OOgS 81 q barrel; cider
CHEsTNGTs-$5 0O@5 so q bushel; walnuts,
60@70c y bushel.
CHEEsE-Ohio, ll@I11Sc; New York, 1I1<c;
Limburger, 91&@11c; domestic Sweitzer, 110
1870; imported SweItzer, 231&.
EGes-24@25c % dozen for strictly fresh.
FRUITS-Apple-. fancy, q 5Ol23 W " Darrel;
cranberries. Sl2 O00@13 90 q barrel; Malaga
grapes, large barrel. s. 501l0 co.
GAME-Squirrels,7 ,75c@Sl p dozen; quail, 81 rs
p dozen; prairie chickens. 81 50Q5 90 p dozen;
pheasants, IS 0005 so q dozen: rabbits, ,30@35c
pair; venison saddle, 10@12c p pound; Venison
carcass, 1890 q pound.
FEATHERS-Extra live geese, 5G060c; No. ],
do 40045c; mixed lots, 30@35c p b.
PoULTRY-Live chickens, 50@65c q pair;
dressed. l1@l2c pound; ducks, 65@75c p pair;
geese, 81 25G1 80 q pair; live turkeys, lS@15c q
SEEDS-Clover, choice 81 ms to bush Ell, 81 20Q
lao p bushel; clover, large English. So Ds, 1850
60 clover, Asike. IS 00: clover, white So; timo-
thy, choice. As bs. 81 so; blue grass extra clean,
IA Bs 81 2501 30; blue grass fancy, IA ms, 81 30;
orchard grass IA s 81 40; red top, IA Ms. 81 25;
millet, 50 MS, 81 90; millet, 60@70c q bushel;
Hungarian grass, so MS, Csc, lawn grass. mix
ture of fine grasses, SO 90 p bushel of IA rs.
TALLow-Country, 4lc; city rendered, ~
@5c.
TROPICAL FRUITS-Lemons, common, 81 so
@3 0O; fancy, 81 00Q5 90; Florida oranges, So 90
@3 25; Jamaica oranges. $6 O0@6 30 q barrel;
bananas, 81 so irsts, 81 90 good seconds, y
bunch; coeoanuts, 81 OO004 so p hundred; figs,
s1SQ9c y n; dates ,5110611c p n; new layer
figs, 12150l511c; new dates. nc y b.
VEGETABLEs-Potatoes, from store. 55@6Oc;
on track, 45@5Oc; cabbages. 81 O0@S 90 hun
dred; celery, 4Oc p dozen; Jerseys, 81 barrel;
turnips, 81 0091 50 barrel; onions, 81 20 bar
rel.
BUcKwHEAT FLoUR-27S@25sc q pound
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04
LOSSES RECOVERED.
Drop in Money Rates Stimulates Trading
in Railroad shares-GOOd Buying
and Stronger Prices
All Round.

NEW YORK, January a-The stock market
was unusually dull to-day, and especially in the
forenoon, when higher rates for money served
to restrict trading to the smallest limits, but
later there was remarkable drop in the money
rates and prices for stocks responded quickly,
and although the business was but little larger
than during the forenoon the most marked
advantages took place all through the list, the
losses of yesterday being recovered. with large
fractions in addition.
There was little news Of any kind, and what
there was was Of q neutral character, 90 the
money question was the ruling influence in the
making of values. The bears started OF with
the circulation of stories about bad bank
statement tomorrow, but as the sub-treasury
has paid to the Clearing House over 5000, 900
in two days, and adyices from Chicago gave ex-
these tales had little or no effect The buying
At all times was OF the best character, and late
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04
Grain, Flour and Feed.

Receipts as bulletined at the Grain Exchange,
40 cars. BY Pittsburg, TT. Wayne and Chicago,
cars Of hay. 5 of corn, of bran, of middlings,
2 of rye, of malt. of oats. By Pirtsburg, Gin
cinnati and st. Louis. cars of wheat, l Of
corn, of hay, l of oats. By Baltimore and Ohio,
/ car of hay. of rye, of oats. By Pittsburg and
Lake Erie, car of oats. of straw, l Of malt
Sales on call, cars of middlings Sll 50, days,
P,RR; car No. ~. e. corn, &c, 10 days, P.
R. R.; car bran, S11 25, days. P. R. R.; car
mixed oats, 251<c, 10 days, P. r. r. The cereal
situation is practically unchanged. New shelied
corn is the weak factor Of markets. In all other
lines markets are steady. particularly for choice
stuff.
Prices below are for carload lots on track.
WHEAT-New No. 2 red. S50S6c; No. 3. SO
&c.
CoRN-No. yellow. ear, new. S6@3c; high
mixed, ear, old, 89@40c; new, 84@35c; No. yel-
low, shelled, old, S9040ci new, 32Q33c: high
mixed, shelled, 4O@4ic; new bigh mixed, ,sheIed,
3l682c.
862S1kc; mixed, 260N.
RYE-No. Pennsylvania and Ohio. 6S@64c;
No. Western, 5l052c.
BARLEY-Western. 45@s5c; Canada barley.
70675c
FLoUR-Jobbing prtces-Fancy winter and
Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04
REALTY PICKED UP.
Some Good Deals in City and Suburbs
MnrfRnzea In Demand

Some Good Deals in City and Suburbs
Mortgages in Demand.
/. M. Pennock & Son sold and settled mort.
gage for $1,000, three years. on property in
Grafton, and one of 81, 800 three years, on a
house and lot in the Thirteenth ward, both at
per cent. They also closed the sale of the
residence property of Washington Beck, No.
1914 Sidney street, Southside, to John H. Da-
vies for 81, 500 cash.
James W. Drape & Co. closed the sale of
about 3L acres Of ground on Perrysville ave-
nue., Allegheny, near the terminus of the Elec-
trio cars, 10 Mrs. Gusky, for S., 900 cash. 1t is
understood it is the intention of the lady to
erect a fine, large orphanage building on the
property to be known as the Gusky Memorial
Hospital They also sold mortgage of IS 1000
on house and lot in McKeesport, at per cent:
also a mortgage of $500 on farm near the
CITY. at per cent; also i've other mortgages of
S, 500 on city and suburban property, at 6 per
cent
Allies & Bailey, 164 Fourth avenue, placed a
mortgage for 81, 100 for three years, at per
cent ON property in the Eighth ward
: Blac0 & Baird, 95 Fourth avenue sold to
James Mccartney lot No. So in the ]. Walter
Hay plan of Valley View place, having 'front.'
age of 20 feet by 100 in depth. for $500.
Reed B. COyle & Co.. 1SI Fourth avenue
placed $50, 900 loan on an East End property
Tor one year, at per cent.