Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-14
HOME SECURITIES.
A SUCCrNCT REVIEW OF THE OPERA.
TIONS OF THE PAST WEEK.

Market Weak in Spots, but tho General
Trend Upward-Gains and Losses-Ne
gotiations for the Removal of Street
Railway Friction-EIectric Reorganiza.
/ ton.
While there was no pronounced sentiment
| for good or bad in the local stock marke,
yesterday, there was notable absence OF
| buoyancy and a weak undertone. Specula
| tion was confined to a few traders and active
bull operators were invisible. They were
| absent in body as well as spirit. Sales fol
| the week were less than 1000 shares. The
| event of the week was the sale by Commo
| dore KountZ of 5000 shares of Manchester
| Traction at 3s% and the settlement of the
suits which have long blocked the way to
| the reorganization of the company.
While, as stated, weakness characterized
the market yesterday, the tone of prices for
the week was upward, as final quotations,
compared with those of the previous Satur-
day, show. Arsenal Bank gained 81, Liberty
National Bank ST.. Manufacturers Gas 81,
! Cable 81. CHARTERS Gas lost Il Philadelphia
II, Luster u, Electric Il. Other changes
were nominal.
A. j. Lawrence Co., in their weekly let
ter reviewing local financial affairs, say:
"Street railway securities have occupied
the attention of spectators and investors
the past week, and the bright young men of
the press have been occupied in presenting
all sorts OF possible and impossible combina-
tions of the various lines. The public has
given more attention to the latter than to
the market, because it was thought that the
new traction law signed by the Governor
early in the week had in view some gigantic
consultations We have been assured that
although passed in the guise of O general
law, the bill was really intended to cover
the Manchester Traction case.
"The amicable settlement of all difference
in this company will render unnecessary the
exercise of the power granted by the new
law. The only combination that would be
of mutual benefit to stockholders at present
would include the Manchester and Pleasant
Valley lines. These two have practical
monopoly of the Northside traffic, which is
increasing as rapidly as that in Pittsburg
To illustrate this increase it may be said
that in 1887 the Allegheny City lines carried
1850, 600 passengers and last year they carried
lines on that side of the river will be
equipped forrapid transit, and by the end of
another II months, they will be carrying
IL, 600 900 passengers annually.
"The warfare between the Pittsburo and
Duequsne fractions has weakened the stock
of the latter; but we have excellent grounds
for the statement that negotiations have al
ready been entered into for a speedy adjust
ment of the differences,an and the prospects for
complete harmony in the street railway sit
uation were never brighter. The weakness
II is ineXplicable. We believe the stock is
selling below its intrinsic value.
'"There has been nothing doing in Phila-
delphia Company or Westinghouse Electric
OF the latter it is currently reported that
$1,000 shares have assented to the plan of re-
organization, which seems to assure its
success.
"There is one point outside the stock mar
ket, but having an influence thereon, to
which we would refer. viz: Iron men tell us
that there has been a decided improvement
in the trade within the past few days. If
sustained, it will have q good effect upon
general business, which in turn will be felt
in stocks. We believe the turn in the mar
ket will come before the semiannual settle
ment period, and from that time on the i'm
proveInent will be steady"
Sales on call yesterday were 20 Central
Traction at II, 100 at II, Liberty National
Bank at 103 80 New York and Cleveland Gas
Coal at 81, 10 Philadelphia Gas at l25S
Final bids and asking prices for the week
are appended
EXCHANGE STOCK.