Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-30
HOME, SECURITIES.
PITTSBURG STEAM APPLIED AND
BUSINESS GIVEN A BOOST.

The Best Day of the Week-Several Strong
Features and No Specially Weak Ones
Electric and the Tractions-The Under
ground Cable Boom.
Stock trading yesterday, although it wa:
the last day of the week. was of larger vol
| ume and was characterized by more vim ant
buoyancy than for long time. 1t was moi
only the best day of the week. but the bes
of the month The range showed a broad
ening tendency, and values developed Q
great deal of inherent strength. The steam
was of local production, as New York was
weak and London, although little better,
was still on the anxious seat.
| The strongest features were Underground
| Cable, Wheeling, Manufacturers and Phila-
delphia Gas, Arsenal and Fourth National
Banks, all of which added fractions to points
| to their credit. The strength of Under.
| ground Cable was said to be due to the sue
cess of the new management. Under the old
| organization the stock sold around so OF So.
It sold yesterday at 7oH: 1t is understood
pany, or are so close to it as to know what
| they are doing.
Electric was dull but fractionally stronger
meeting m f v Would Eesnlt % in % nothing definite SO
| far as it might affect the reorganization
| plan. Final action will no doubt be post
seemed to be the Interpretation of Mr.. West
inghouse's latest public utterance urging
stockholders to make an early surrender.
Few doubt that the plan will be adopted, but
In this connection the following from the
Boston Traveller is pertinent: "The weak
ness in the electric stocks at the present
time is very naturally the topic of more or
to the unsettled condition of the
general market than to any I'M.
favorable condition of the electrical busi-
ness. The Westinghouse reorganization
plan is making slower progress than had
been anticipated; but a limit for the deposit
ing of the stock will be fixed soon, and then
there is little doubt but that it will come in
more rapidly"
The street railways were firm, with Bir-
mingham a shade higher. Investors, while
not wanting faith in these securities, are
disposed to await the outcome of competi-
tion, motor power, etc, before taking hold
of them in O wholesale way. The various
systems are working as well as could be ex-
pected considering that everything is new,
and that experience must come of practice.
Mining stocks had no active support and
submitted to slight concessions.
The Northern Pacific Railroad in which a
large number of Western Pennsylvanians
are interested, has begun to buy preferred
stock out of the proceeds of the Manitoba
land decision. The directors have set aside
vaptageous, and committee of two has been
selected to attend to the purchases.
There is no improvement in the demand
for copper. Home consumers buy only as i'm
mediate wants demand, and export interest
is confined almost wholly to furnace ma
terial. At l3 cents there are free sellers of
Lake Superior ingot, and it is rumored that
some of the mining companies have sold at
q fraction less to consumers direct.
Yesterdays sales were:
First call-30 Electric at 1SH 10 CHARTERS
Gas at s, at 8, 100 Philadelphia Gas at 13sS,
so at 1877, 20 at 1877, 10 Birmingham Traction
at 211l5 5 at 2l15 so Switch and Signal at ~ !
Second call-l0 Philadelphia Gas at 1877, 100
at 1875 10 at 1879.
Third Gallo Underground Cable at 20, 40
at 704, 20 Philadelphia Gas at 1879, 10 Pleasant
Valley at "a
Bids and asking prices at each call follow: