Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-21
HOME SECURITIES AND CASH.
The Pittsburg- -Duquesne Traction Deal the
Principal Evcnt-No Special Influences
to Affect Trading-Ofice Business of
Good Proportions-Sales and Quotations.


Principal Event-No Special Influences
to Affect Trading-Ofice Business of
Good Proportions-Sales and Quotations.
The event of the week in local stock cir
cles was the consummation of the agree
ment between the Pittsburg and Duquesne
Traction Companies, by which they will
hereafter be operated by one management.
The burden of opinion seems to be that the
remova, of all cause for friction between
the late rivals will increase their earning
capacity, strengthen public confidence and
bring their bonds and stocks into more act
i've request.
The market pursued comparatively even
course during the week, there being no radl-
cal price changes, and no special influences
to turn the scale one way or another. Clos
ing figures as compared with those of the
trail Traction gained "a Citizens u, Pleasant
Valley Is, Switch and Signal e, and Airbrake
l; Peoples Pipeage declined l3s. Philadel-
phia Gas Il, Luster M and Electric Il. OF
the unlisted fractions the only one showing
departure worthy OF note was Duquesne.
1t was weaker
Sales Saturday were 10 shares of Enter
prise Savings Bank at 60, 100 Philadelphia
Gas at 133s, and 80 Luster at 81. Sales for
the week were 2,795 shares, against ,2S6 the
previous week. Luster led with 6l0 shares,
followed by Philadelphia Gas with 435, and
Duquesne Traction with SS2. Office trading
was better than for some time. Sales of
bonds reached nearly Sl75,O00
Increase of funds at nearly all the finan-
cial centers was the feature of the week in
banking circles. Business, however was
satisfactory. bank clearings having been
nearly 81 900 000 in excess OF those of the pre-
vlous week ana upward of s., 500, 600 greater
than for the corresponding time last year.
Trade was a long time catching up with the
rapid gait of 1890, but it has finally forged
ahead. Business is not only better than it
was in the closing weeks of last year, but
conditions and influences are infinitely
more favorable. There is nothing in sight
TO prevent a continuance of the forward i'm
pulse which has set in. Read either directly
or between the lines, the Clearing House
statement, as prepared by Manager Chap
lin, is full of cheer.
Satnrdays exchanges. 2a5 942 65
SatnrdaE : balances 343, 496 GA
Exchanges for week eek.......,....,.., lS 49, 4a3 IS
Exchanges previous week. k.........-. II 7O4 300 IS
Exchanges week 1890. II, SIS. 2i5 IL
Money has been so plentiful in New York
for some time. that but little attention has
been given to the weekly bank statement.
That of Saturday was strong in every item,
especially the reserve and deposits, but it
made no impression and was scarcely al
luded to by the stock brokers. The figures
show these changes from the previous state
ment: Reserve, increase s., $50 600: loans,
increase, 81 S45 100: specie, increase, 81 AS, 400;
legal tenders. increase, $l.S10, 500: deposits,
increase, S, s52 500: circulation, increase S3O-
600; amount above legal requirement., Sl9,-
152, ,o91.
At New York Saturday money on call
was easy, ranging from 215 to per cent; last
loan %; closed offered at %. Prime mer-
camille paper, 424@6 Sterling exchange
quiet and steady at 4s214 for 6O-day bills and
4s41a demand.