Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-10
HOME SECURITIES.
Business Satisfactory and the Leaders score
Further Advances-Review OF the
Weeks Operations-The West

Business Satisfactory and the Leaders ssore
Further Adyanoes-Review OF the
Weeks Operations-The West
inghouse Rumor.
Local stocks were fairly active and strong last
week. The volume Of business was smaller
than that Of the previous week, but the range
was wider. There were some new features, no.
tably In the street railway list which added TO
the interest Total sales were 2729 shares,
against Sls6 the week before. The report tnat
Mr. Westinghouse had completed his deal, ana
mentioning the names Of several Prom.
inent New Workers as heavy subscribers
to the preferred stock, could not Dc
verified. Several prominent brokers said they
knew nothing about it, and while admitting
something of the kind might be going on, eau
toned investors to await authentic in1orma-
ton.
Closing prices yesterday. as compared with
those of the previous Saturday, show advances
in Pipeage. Wheeling Gas, Central Traction,
Citizens Traction, Pittsburg Traction. Luster
and Electric. Manufacturers' and Philadel:.
phia Gas and Airbrake held advanced ground
and were steady. Switch and Signal and Pleas
ant Valley closed trife lower. The most I'm,
portant accessions occurred in Citizens and
Pittsburg fractions each of which added
nearly S3 to Its credit Wheeling Gas was
good third. making gain OF 81 80.
A. J. Lawrence q 90. say In their weekly re-
view: "The developments at the annual meet
ing Of the Philadelphia Co npany and the sharp
advance in Wheeling and Manufacturers
Natural Gas have focused the speculative eye
on this class of securities. Pittsburgers nave
lost SO much money in the natural gassers that
1t is difficult matter TO get them to properly
consider the present situation Of Affairs. Like
the wild ass OF the Land of Uz. which 'brayeth
not when he hath grass holders of natural
gas shares had nothing to say 50 long as 10 and
even 20 per cent dividends were regularly paid;
but when these ceased and the disastrous
shrinkage In value followed. they lost all faith
in the business.
"There may have been extravaganza and mis-
management at the beginning, but present
prices have, In q great measure, discounted
these, and the fact remains that Allegheny
county has the most extensive and perfect sys-
tenn In the world for the distribution of gas.
It is preposterous to suppose that such q valu-
able property will ever be abandoned, even
upon the exhaustion Of the gas felds-an event
which Is still years in the future. It Is we'll
known fact that less than two years ago there
were negotiations for the sale of the control Of
the Philadelphia Company to an Eastern syn.
dicate. At that time the stock was selling for
nearly three times its present price. We deem
1t among the possibilities, IL not probabilities.
of the near future that Pittsburg' leading nat.
ural gas companies, with their LOCO miles OF
pipe lines will be consolidated; that the supply
of natural gas wilt be augmented by the manu-
factured product, and that a company equal to
the Chicago or the Bay State, of Boston. will
be the result.
"Westinghouse Electric was strong and high.
or during the week, selling as high as l5ea and
the scrip was in demand at an advance of 10Ql5
per cent The whirligigs of speculation
brought about decline Friday and Saturday,
In the face Of most confident assertions that
the company's affairs had been finally ad-
justed on q frmer basis. As the bulk Of the
trading is in the East, and az the general mar
ket there was adversely affected by gold ex-
ports and bank failures, Electric naturally
sympathized with the depression. 1t will re-
quire an analysis of the official circular which
will be issued In few days to determine the
intrinsic value of the common stock under the
new arrangement. We still confess our in
ability to see how 1t will be materially benefited.
but &C the same time we must admit that the
general sentiment is more bullish than at any
time since the negotiations began.
"The further advance in the traction stocks
shows that they are the favorites with invest
ors. During the week Duquesne Traction sold
at Is and Birmingham az lsN. while Pittsburg
rose to 81 bid, Manchester to S61l, and Central
to l9N. Those who invest for immediate re-
turns may be disappointed, but there can be
little doubt of the safety Of such investments
for o long pull They occupy position sim
liar to bank shares, and are every whit as
secure"
Yesterdays sales werc 100 Electric at l6sk, 10
Ohio Valley Gas at 201<. 10 Pleasant Valley at
M, Sl,500 Electric scrip at 68, $50 at 81. Clos.
ing bids and offers for the week are given be-
low;