Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-07
HOME SECURITIES.
ALLsPECULATTvEM MARKETS DEVELOP
AWAITING ATTITUDE.
Review Of Events Of the Week on the Local
E1change-Ups and Downs Of Values
Preliminaries Arranged for Street Rail-
vav vCopsoIidation-GoldS Shipmeuts.


Rreliminaries Arranged for Street Rail-
way Consolidation-GoldS Shipments.
Business on the local Stock Exchange last
week was characterized by extreme dull
ness, total sales footing up little less than
600 shares, half of which were furnished by
Philadelphia Gas. Prices, however, were,
in most instances, well sustained, showing
firm undertone. The only transactionyes-
terday was 10 shares of Electric at 121s. Clos
ing quotations. as compared with those OF
the previous week, show gains and losses
about equally divided. Advances were made
by Arsenal Bank, 81 30 q share; CHARTERS
Gas, Manufacturers Gas, 81 80; Wheeling
Gas Second Avenue Street Railway, Luster
and Airbrake-all for fractions, except
where noted. Small concessions were made
in Philadelphia Gas, Central Traction, Pitts
burg Traction, Pleasant Valley, Electric,
Switch and Signal and Underground Cable.
A. j. Lawrence & Co., in their weekly let
ter reviewing local financial affairs, say:
"The only pronounced feature OF the mar
titude In this respect 1t resembled all the
leading markets east and west, and those
abroad. The financial world is watching
the gold movement, and waiting for turn
of the tide.
"Of course, the foreign situation cannot
increase or diminish by single cubic foot
panies mg a viii SELL it viii not influence one pas
senger to discontinue the use of our unparal-
leled rapid transit facilities; it will not AFFECT
a dollars worth the demand for the products
of the manufacturing enterprises whose
shares are traded in here in P1ttsburg, but
it nevertheless has its bearing in all finan-
cial circles. For reasons pointed out in pre-
local securities will respond in a very
marked degree to a restoration of confidence
in the East. That holders of stocks share
this conviction Is evidenced by the fact that,
in spite of the prevailing du1lness, there is
no undue pressure to sell.
"a word as to this gold movement. Our
New York correspondent writes that the i'm
preston is growing there that the continued
exports are due to apprehensions of foreign
capitalists over the agitation of the silver
question here. They keep heavy balances in
this country which command the higher
rates of interest usually current in the New
York market, but prefer to withdraw the
credit if the principal is endangered. They
have had costly experience with South
| rency of those countries, and do not pro-
pose to take any more risks. These fears,
however, will result in good. They will
arouse q strong public sentiment against
measures having tendency to depreciate
our currency, and will establish the fnan-
cial credit of the United States on sounder
basis than ever.
"Among the DEVELOPMENTS ofthe past week
have been negotiations having in view the
consolidation of interests which will exert q
good influence upon at least one member of
! preliminaries have all been satisfactorily ar
ranged, and it is probable that the compile
ton of the deal will be announced within q
| few days. AS to the Westinghouse Electric
Company's affairs, we, are advised that fur
ther progress has been made and 1t is ex-
| pected that the reorganization will be
| speedily accomplished.
| "Pittsburg has always been rather slow to
| take hold of outside enterprises. There was
| never time, however, when so many first
| class securities were offering in our market
4 as at present. Some of these bonds are pay
| able in gold, are absolutely safe and bear s
| per cent interest, and yet they go begging.
| On the other hand, municipal and other Sc
| curities of long-established reputation COM
mand premium which places them on 4
| per cent basis, showing that there is plenty
! of money for investment but that investors
| are timid. 1t appears to us that an immense
1 opportunity presents itself for investigation
| into the merits of these new securities"
Closing bids and asking prices for the week
! are appended