Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-28

under 2oH. DuQuesne Traction was
eossd esosdf at " Is s51aEswasss Cas-
at 26 bid ana Wheeling Gas at lS1 asked.
Luster closed at lo19@i0M under little
offered at 1917 after the close. Westinghouse
Electric (old) was close to a trading basis at
lS@ lSs. Switch and Signal was offered ut l6aA,
Alrbrake limited at 80, Ex-dividend and I'm
was a little bantering between some of the
brokers on Westinghouse Airbrake and their
talk led to the conclusion that one or two OF
them wanted to buy at something better
than l24 Other quotations were without a
shadow OF change.
Labor troubles in New York.
The building trade troubles in New York,
says the Bulletin, continue to spread and be-
come more serious. and without indication
as yet of how the solution is to be found. A
great number and variety of minor Ques-
tfons seem to be merged int the broad issue
of general resistance to the interference and
dictation of the "walktng delegate" and the
present troubles are regarded as a natural
sequence on q larger scale, of those that
have occurred at intervals for some time
past. Both sides seem determined to make
the contest as broad and decisive AS possible,
and this may, in the long run, have its good
results, and lead to u better understanding
and better adjustment of the relations OF
allied industries; but the immediate effect is
an interruption of building operations in all
their branches, and on 50 large a scale that
the consequences are very serious and very
much to be regretted.
Electric Motors on Railroads.
At the recent convention of superin-
tendents of telegraph at Denver Charles
Selden, of the Baltimore and Ohio, read an
interesting paper in which he endeavored
to show that within the next i've years elec-
tricity would be the motive power Of every
great railroad. The Baltimore and Ohio,
MI. Selden says, is the first road to use elec-
trio motors. The company constructed
tunnel ~ miles long under the city of Balti-
more. and electric motors wore designed to
haul all trains through It, the gas and smoke
generated by locomotives making it inn
practicable to use them. The motors haul
40 loaded freight cars without any apparent
effort ut speed of 36 miles an hour. The
Baltimore and Lehigh Valley road is oper-
ating all its suburban trains by electricity.
Electricity as motive power is less expen-
sive than steam. OF all the power generated
when electricity is produced it has been
found by a number of careful experiments
that " per cent OF the electricity power gen.
Grated Gun be used and relied upon to pro
duce mechanical motion, while in the case
OF the steam locomotive not over 30 per cont
or the power generated becomes effective in
producing mechanical motion.
Readings Earning Power.
The statement of the Philadelphia and
Reading Railroad Company for June, 1892,
shows (cents omitted): Gross traffic re-
ceipts, 81, 81. .296; gross traffic expenses ST.
02S, 2SS: profit in operating, $3.50 profit for
the month, $94l. .e29 Against this is charged
s6O05 for permanet improvements and $685.
O0O as one-twelfth of current fixed charges,
leaving u surplus of s3l0,622 The surplus for
the first seven months OF the current year
is 81, ,357, ,2G2 an increase OF $742, $685. compared
with the same period last year.
The result of the operation of the Phila-
ALL
lessee of the Lehish Valley Railroad Com.
pany, tor May, 1892, shows: Receipts, ST, ,567,-
462: expenses, $l,A2s75; earnings $5e4, ,5s7
Earnings for the six months enuing May 81,
1892 are 81 6l1 .270 an increase of $64S O5l over
the same period last year.
The result OF the operation of the Port
Reading Railroad Company, lessee of the
Central Rqiiroad OF New Jersey, for the
expenses, $694, ,9N; net earnings, $499, lA Net
earnings Tor the six months enuing June 30
are 50, 76S Isl, an increase OF $6S 2s6 compared
with tue same period last year.
The statement of the Reading Coal and
Iron Company for the month OF June shows:
Gross receipts, $l,s5l, COS: gross expenses,
81. sss,7 ,7ea profit from m. mi mining, sl7,s42 from
OF the current gross fixed charges, leaving a
deficit OF s5O,l57 The deficit for the first
seven months OF the year is $3.50, ,042 de-
crease o. 1896, 1873 as compared with the same
time last year.
The recent marked advance in Metropoli-
tan Traction stock was caused by buying
for big insiders. 1t is understood that q plan
is about to be announced which will pro-
vide funds to pay for acquisitions of roads
and future improvements and at the same
time benefit present stockholders. The pro-
position, says the Philadelphia Press is to
increase the stock to $50, 600 0OO OF which
s24, 600, 600 will be given to the present hold
hi
stock, on which 60 per cent has been paid in,
full paid. The present stockholders will
also have the right to subscribe to 81. 600, 900
OF the new stock at par The balance OF the
new issue will be used as the directors of
the company find necessary to pay for past
and prospective purchases and improve
ments. The talk on the stock in the East is
very bulish.
Financial Notes.
Westinghouse Electric (new) closed at
27sI@2s1S. with 271s bid after the close.
There is talk abroad that Union Switch
and Signal preferred will receive dividend
this fall.
The regular monthly dividend of 2 per
cent, or 10 cents on each share, has been de-
clared by the directors of the Enterprise
Mining Company, and Is payable August g.
Checks for the amount due each shareholder
will be mailed on that day by the treasurer
of the company. The transfer books OF the
company will close August and reopen Au-
gust 6.
The Chicago Gas Company has won anoth.
er victory over the combination OF Chicago
politicians who have been bounding It's
progress. As result OF a court decision
handed down, Monday, the city nas been de-
fcated In its endeavors to prevent the Eco
nomic Gas Company from laying mains in
the streets of Chicago. As the Economic is
controlled by people friendly to the Chi. |
caXo Gas Company it is regarded as a single |
victory for the latter corporation.
Unlisted street railway securities closed |
as follows: DuQuesne traction, 2SII02sIx:
do. 5s, 100ss@ @l0011; P. A. and Nj. tracti0n'
l4@44<; +. q B. traction, 25@25L; 1880 |
l0lK.
Tue Western Union Telegraph Companv |
now has nearly $l6, 0OO, 900 surplus which the |
stockholders are entitled to- An attempt |
will be made this year to have this sum dis |
tributed. 1t Is intfmated that negotiations |
have progressed favorably for closing a |
lease with another company, the leading |
Of which has just returned from |
Europe.
1t is again rumored that the Whisky |
Trust people intend to pass the dividend |
The pest Information regarding this move
mont is that its object is to force decline in |
the stock, to enable some interest to buy as |
,iear figures 1t may be relied upon that
The Whisky Trust is all right but the NAM
agement, on account OF speculative procliyi-
sies. 10 regarded as execrable
The gold holdings OIL the Bank of England
ire E26, 600 ($l83, ,5o0 70o) against E27O0o,-
NO at this time last wear: tine Rank of Fro n cp