Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-05
HOME SECURITIES.
A HESITATING MARKET, WITH NO M
PORTANT PRICE CHANGES.

Luster Doomed Little by Insiders-Street
Railway Friction Intimidates Investors
Natural Gassers Hold Advanced Ground
Electric Weak and Almost Out Of
Sight.
The feature-if feature it may be called
of the local stock market Yesterday was
boomlet in Luster mining stock, which ad-
vanced from 1875 at the opening to IA at the
close on light trading. Some of the insiders
who are about the only buyers, gave out
that the prospects of a big thing are steadily
improving. Machinery for the mill is on the
ground, and operations will begin in q short
time-perhapS.
Birmingham Traction was the only live
stock in this section of the list. 1t sold at a
slight concession. Duquesne was also
weaker. Manchester added something to its
credit There is so much friction between
the different systems that not much activity
need be expected until it is removed. 1t was
stated that the Manchester line would be
ready for business sometime next month.
While investors are cautious, they have un-
bounded confidence in the future of these
properties, and in the ultimate value of the
stocks.
There were no material changes in the
natural gas list. Electric was weaker, fin
ishing good fraction under the opening
Boston reported about the same condition.
twas said by brokers having Eastern adj
vices that stock was, being surrendered SO
fast as to make it probable that the success
of the reorganization plan would be an
nounced at the next meeting
There was little in other parts of the list
to deserve attention. A sale of NJ and M
Bank stock served to break the monotony
that has prevailed in this class of securities
for long time. Fred Rinehart was the
buyer.
As general thing Pittsburg stocks are in
good shape. Margined holdings are unim-
portant. Nearly all are paid for. This ac-
counts for the indifference about selling
holders don't have to. They can afford to
bide their time.
of the Louisville and Nashville Railroad is
to acquire and provide the means to pay for
the fee of the Kentucky Central Railroad
Company, cancelling its present existing
stock, of which the Louisville and Nashville
Ra1lroad Company is now q large share
holder, and to provide means for the in
tended purchase of the Louisville and Nash
Vile Railroad Company's proportion of the
proposed increase of the stock of the Nash
Vile, Chattanooga and st. Louis Railway, of
which the Louisville and Nashville is a ma
jority stockholder. 1t is officially stated
that the $5,00o,O0O of new stock is more than
the scrip dividend of Nashville and Chatta-
nooga.
The distribution of the Pennsylvania Rail-
road dividend is now well under way, and
there is reason to believe that "a considerable
proportion of it will be taken in stock, al
though the shares now command but small
premium on the Stock Exchange Foreign
selling has been looked for in view of the
great financial disturbances abroad but up
to this time the sales for English account
have been very moderate indeed, amount
ing to only few thousand shares.
Outside advices were somewhat more as
suring. New York was slow and dull, but
fractionally better. London was a trifie
stronger, but unsettled. The panic at
Buenos Ayres was said to be abatfng The
steamer Normandie took 81. $4,000 gold from
New York Total ShinmentS this WaaE ii
350,000. Sales were l35 shares, as appended:
First call-15 Philadelphia Gas at 13L, 20
Birmingham Traction at 21%.
Second calico NJ. and NJ Bank at g.
Third call-50 shares Birmingham Traction
at 2lh, 10 at 2l15, 10 Luster at 13l, 10 at H.
Bids and asking prices at each call follow: