Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-28
HOME SECURITIES.
MODERATE TRADING AND LOWER
RANGE OF PRICES FOR THE WEEK.


No Activity in Anything at Home or Abroad
Concessions in the Majority-Semi-
Annual Settlements Brisk and Higher
Market in the Fall.
1t was bearish week on the local Stock
Exchange. Continued shipments of gold,
labor troubles and inability to shape coming
events infused weak feeling into all the
speculative markets, which was not Onset
Dy the best crop news for years, and the re-
suit was q lower range of prices for almost
everything traded in. The usually inactive
shares were about the only ones that maze
snow OF strength, they being so cheap as 20
risk
Closing prices of local stocks as compared
with those of the previous Saturday snow
tnat nearly all of the so-called leaders losG
ground. Allegheny Gas Company dropped
~, CHARTERS Gas X, Manufacturers Gas u,
Plpeage g, Philadelphia Gas !, Wheenng
Gas q, Citizens Traction "a, Luster n, Eiec-
brake lss. The unlisted fractions were
steady on large offerings Bank stocks were
henu at top prices. Sales for the week were
SSS shares Of which $50 were Philadelpn1a hi
valley and 237 Central Traction.
n: D. Lawrence & Co., i'll their weekly letter
reviewing local financial affairs, say: From
now until the middle of next month the pub
ments, and for another month utter they are
over, with seeking recreation. That Will
Dring us up pretty close to the first or sep
tcmDer, and in the meantime little activity
IS to be expected in the stock market. Ihe
selling of stocks and bonds during this
period, and especially of home securities,
may be pretty generally attributed to forced
liquidation, because no one selects dull
market in which to sell to best advantage.
1T is q noteworthy fact that, notwith-
standing the abnormal condition of financial
affairs the world over, less apprehension has
been expressed regarding the half-yearly
settlements just at hand that at any CORE
spending time in years past. Last fall pes
simists said: Wait until the first of Janu-
fabric will be disclosed The first of January
was passed without trouble, and the date
was then advanced to April. The settle
ments for this quarter were also satisfactory,
and the trouble breeders have apparently
taken a rest.
En"There are, however, two or three local
dTag-weights which have impeded financial
operations for months past. The develop
mentS OF the past week indicate that at
least one of these will be speedily removed.
We refer to the Westinghouse Electric Com
pany's affairs. The strong probabilities are
that the plan Of reorganization Will be
adopted at the adjourned meeting on the
10Th prox. We do not look for any immediate
results to follow in the market, but the an
nouncement that these affairs have been
finally adjusted will contribute to an i'm
been generally discounted.
"Philadelphia Company suffered a decline
OF = per cent the past week, the weakness
being attributed to shortage of gas.
Whether reports to this effect are we'll
founded or not, we cannot say, but we know
that the company is making every effort
now for next winters needs.
"Street railway shares have been dull, with
slightly dropping tendency. The latter is
due to the dullnesS and the prom-
nence given the veto of the mo-
tor bill. We believe the effects of the
defeat of this bill have been exaggera-
ted, owing to political considerations Its
passage would not have increased q single
fare on any of the lines and its defeat will
not diminish the receipts or increase the ex-
penditures of the various roads. The bonds
OF these companies are sure to become
favorite investment, and the stocks are just
as sure to become the favorite ofspeculatiye
traders. Like wine, they will improve with
age because the sources of revenue are con-
stantly increasing with the city's progress.
As true an axiom as was ever uttered, but
one difficult to follow, is: Buy when they
are weak and sell when they are strong
Our advice during the dull period now at
hand would be, If you cannot act according
to the axiom, at least do not force your Sc
cur1ties upon an unwilling market if youare
able to carry them through the summer.
The consensus of opinion on the street is
that we shall have an active and higher
market next fall. By that time the crops
will be garnered, the railroads will be carry
ing an enormous tonnage, the money now
accumulated in bank will be in circulation
among the people, and the hustle and activ-
1ty of fall trade will create a confident feel
ing in general business circles"
Yesterdays sales were 80 Birmingham
Traction at 20A, 10 Luster at 1924, 20 Philadel-
phia Gas at llzs After call 10 Central Trac-
tion sold at II and $40 Electric scrip at. 81
Final bids and offers for the week follow: