Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-02
HOME SECURITIES.
ELECTRIC CADJOURNMENTHAS ABEAR
ISH EFFECT ON THE MARKET.

1t Was Not Unexpected, but Gave Emphasis
to the Prevailing Feeling of Dissatisfac-
tion-The Strong and Weak Features of
the General List.
There was a notable absence of vim in To-
cal stock circles yesterday, and trading was
of small proportions. In the absence of
Secretary Chaplin, who is doing duty as the
foreman of the grand fury, the venerable
Captain Barbour welded the gavel, but even
his eloquence was inadequate to the task of
working the room traders up to the sticking
point Transactions we're of the retail sort,
and footed up only I7 shares.
The only thing. beyond monotonous
routine was the meeting of the Electric and
Manufacturing Company, at which Mr..
Westinghouse was present. The postpone
ment of action on the reorganization plan,
while not unexpected, had bearish effect
on the stock although this was not dis
tinctly reflected in the figures. 1t sold early
at 1875, and finished at 1311, which was also
the opening. In respect of prices and bust
ness Boston was about on a level with Pitts
burg. i
Some of the brokers attributed the leth-
argic condition of the market to the nom
settlement of Electric affairs and with good
reason; II o1 mas oeen the ieadeT ti! & Of the
as an indicator of values. While no one
doubts that it will ultimately be put on its
feet the long wait exerts a depressing in
huence, and acts as dead weight to every
thing else.
There was no pressing demand for any of
the fractions, but they could have been sold
at slight concessions. Manchester was q
good fraction higher. Birmingham was Of
fered at o. with 2lsS bid. Duquesne was on
the market at 191s. The reduction of fare by
the Pittsburg had no perceptible effect upon
the stock, which was practically neglected.
Apprehensions of a rate war or some other
complication, about which frequent hints
are heard on the street, will be likely to re-
strain any enthusiasm on the stocks until
each of the systems shall be placed on a
good working basis.
shade weaker, while Wheeling and CHARTERS
closed half q point each better than the
opening. Manufacturers Gas was fraction
weaker in the bidding. Luster was put ND a
peg, but the other miners were in disfavor.
Airbrake and Switch and Signal were clipped
a little at the last call. Underground Cable
was firm at 20 bid. .%
In general way the markets were unsat-
isfactory. New York had few supporting
orders, and prices were weak until near the
close, when there was slight rally and
fractional gains were made. London was
lower on bad news from Buenos Ayres,
where gold was at the highest premium yet
touched. The Bank of England was borrow
ing money on Government securities in or
der to retain the gold which had been i'm
ported. 1t was reported from Madrid that
commercial treaty with the United States
had been concluded
Sales of local stocks on call yesterday
were:
First calico Electric at 1875
After Gallo Philadelphia Gas at 135s
Second Gallo Philadelphia Gas at 1877, 10
Manchester Traction at 2SIa.
Third call-50 Luster at y, 25 at l2L, 10
Electric at 1877, 10 at 1871, 2 at 13.
Bids and asking prices at each call are ap-
pended: