Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-26
GAS SHARES WEAKER
And fractions Steady to Firm Under
the Lead of P. & B.
TRADING Is VERY MODERATE
And the Market Was Never Before Quite 60
Narrow.
LOCAL AND GENERAL FINANCIAL NEWS


day was very moderate, the days transac-
tions aggregating only 305 shares OF this
amount Pittsburg and Birmingham traction
furnished about fve-si1ths, and Philadelphia
Company and Pittsburg, Youngstown and
Ashtabula Railroad the remainder. P. &
B. traction and Philad elphia Company were
the only two stocks in which anything like
real interest was manifested, with the
former in demand and strong and the latter
weak and lower under a little pressure
|sto sell, especially at the last
board. P. & B. continued to sell
mystery on, but the weakness and
decline in Philadelphia Company was
doubtless due mainly to the recent reports
of a shortage of gas in various portions OF
the city. In the Common Pleas No. this
morning the jury in the case OF Barbara
Reich versus the company, an action for
damages for personal injuries. returned
of $4,000. and it may be that this helped to
depress the stock at the final call. 1t sold
down to 2lH on call, closed at 2l@2lA, sold
at q alter so,>as call and n was s.. then then
sold at 944&45S, at which range
it closed. but subsequently, it was quoted at
245sQ245< A small lot of Pittsburg, foungs-
Citizens traction was fractionally higher:
SlA was bid for Pittsburg and Western new
As. but otherwise nothing worthy OF special
Westinghouse Electric second preferred
closed offered ut 37L.
The final board quotations on the unlisted
street railway stocks were as follows: Z.
B. traction, 2454@24H; DuQuesne traction,
971l@es; p, A. & NJ. traction, 4s140A.
Gold Exports.
America is the only Tree market for gold
in 10 of "a
knowledge of this fact and the further
knowledge that Russia and other conti-
mental countries desire to accumulate gold,
even at a slight loss, justifies the fear which
the advance in exchange rates has excited
about the outflow of gold from this eoun-
try. Unless the conditions which now con-
troll the situation quickly change-a cfrcum-
stance not probable-or unless Europe
soon becomes buyer of American securi-
more gold will be drawn from the United
States at an early date. The balance OF
trade is against this country, and when the
difference Is not offset by purchases OF
securities, it is useless to conf lure ND delicate
theories about why gold should not go
abroad. Its movement is controlled by the
inexorable law of debtor and creditor, and
If the conditions between America and the
foreign merchants and bankers are such
that we owe them q balance, coin must be
sent in settlement. The shipment OF gold
for the settlement may be delayed by Dank-
ing forms but as stated above, unless
will have to be surrendered to foreign coun-
tries
Financial Notes.
S. S. Pinkerton sold Hill & Co. 100 P. & B.
traction at 2454 and the latter sold Kuhn
Bros. l60at 245S.
Robinson Bros. sold Phillie to Hill & Co.
and j. B. Barbour.
W. R. Thompson & Co. bought p, Y. & A.
from S. S. Pinkerton.
Among the securities listed on the New
York Stock Exchange yesterday were ST.
100000 additional shares common stock Of
the Pittsburg and Western. The voting
trust certificates of the Pittsburg and West
ern will be stricken from the list on Decem-
Der 10, and only stock certificates will be 8
delivery on and after that date.
The General Electric Company denied the
rumor that it is backing the Chicago and st.
Louis 100miles-an-hour railway scheme.
A charter was issued to-day to the North
Avenue Stair Company, Of Allegheny, to
make hardwood furniture, etc; capital. S14,-
600. David NJ. White, of MckeeSport Is the
treasurer.
The annual report of the Boston and Maine
Railroad has been approved by the Board OF
Directors, and is now in the hands OF the
press for distribution to the stockholders.
In general the figures show an increase Of
nearly ST. 600, 600 in gross earnings, and salts
factory gain III net earnings ior tne year.
Figured on the basis of this years net earn
ings the road has earned and could paw 10
per cent dividend on its capital stock and
then have a surplus remaining Of nearly
$4,000.
prominent sugar interest in Bos.
ton says that while he does not antici- |
pate that the American Sugar Refining COM |
pany will advance its present rate of divi- |
dend, 1t may declare an extra per cent to |
make the total dividends 10 per cent for the |
entire year. The first two quarterf os pres |
ent year dividends were Mt the rate of only |
8 per cent |
The annual meeting of the Monongahela |
Insurance Company will be held Tuesday, |
December 6, at 12M. |
Sales and Final Quotations. |
The following transactions were recorded |
on the exchange sales board to-day: |
FIRST CALL.
100 shares P. & B. traction FAX
SECOND GALL