Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-14
A FEW STRONG POINTS.
Local Stocks Continue Dull, With
the General Tone Barely Steady.
CHANGES EQUALLY DIVIDED.
Peoples Pipeage and Switch and Signal
Prominently Strong.
LOCAL AND GENERAL FINANCIAL NEWS
THURSDAY. Oct. 13.

Il
The market for local securities opened
dul to-day and continued SO until the clos
ing board, when a few transactions
occurred, which were followed after the
close by the best trading of the day on
change. The total business for the day,
however, was light, and while . little
| strength was shown in spots the general
tone of the market was barely steady to
weak. The strong spots were Peoples
Pipeage. Pleasant Valley railway, Under
ground Cable, Switch and Signal, and
United States Glass preferred. while the
weak ones were pretty we'll distributed
throughout the remainder of the usually
active list Luster closed little better
than the previous day, but its fluctuations
at present are without significance. In the
bank list the features were an advance in
Enterprise Savings Bank. Of Allegheny. to
SO bid and an advance in NJ. & M. National
to 731a bid.
Movements of the Market.
P. & B. traction sold at 25A at the second
board, closed at 251s@25Z and sold at25M
after the close. The only fresh gossip on
the stock was in relation to the company's
hilltop interests. In this regard it was
stated that the company, having issued its
limit of bonds, found it necessary to organ
ize new company to build rapid transit
lines on the hilltops, and the Birmingham,
pany was organized with a apital of $1,000
600 and 1000 per cent 40-year bonds
This stock is owned by the 2. b.
traction, hich guarantees the principal and
interest on the bonds, s425 900 of which were
placed in Philadelphia and Pittsburg. Thus
the roads were built and equipped, and
while they have only been in operation
few months they are already making little
money. 1t was also stated that the P. & B.
turned its interests in the Mt. Oliver and
Pittsburg inclines and Short Line over to
the Birmingham, Knoxville and Allentown
Traction Company: In referring to this
clear the item of s26, 697 u fixed charges.
repees aaea the annua1 stass
ment, and covering the first quarter
OF the new fiscal year. This SUM
represents one-fourth of the annual charge
on the sl.5oO,ooO 5 per cent first MORTGAGE
bonds of the parent road, or sls,5oO, and one
fourth the annual fixed charge on the $780,
900 per cent bonds of the B., K. & A. Trac-
tion Company, or 800. The two together
foot up SIG 600, which leaves $699 "a as repre-
senting three months taxes. 1t is under
stood that the extension to Homestead will
be pushed, and a portion of the bonds of the
B., K. & A. remaining in the treasury will
likely be used fopehat purpose" As stated
in yesterdays report, the sentiment on the
stock does not appear to be especially bear
tsh, and some OF the street people think
they can detect signs of disposition to sup
port the stock against lower prices.
Citizens traction and Duquesne traction
were weak, the former selling at 62H and
closing at 625z bid, and the latter selling ut
2sH and closing at 2Sss@2SH. Pleasant Val
ley railway was some what hrmer at 25M
sales and a close at 25ss@251 and the others
of the group were unchanged.
Union Switch and Signal was in fairly
good demand all day. At the third call it
moved up to 1874 sales and closed strong at
1SA@l9, with lS1s bid for small lot alter the
close.
Westinghouse Electric scrip sold at 92%
Der cent, closing at g3695 and Allegheny
Valley Railway 1905 SOLD at 1l0H closing at
1l019@I1l.
There was no public business in gas
shares Philadelphia Company lost slight
fraction, Peoples Pipeage advanced to l5A
GIG and the other members of the group
we're neglected.
Airbrake was quoted at l35@l37 Under
ground Cable closed a little higher at 1873
bid and Luster gained a traction at 81 bid.
p, A & NJ. traction was quoted at 445l@45
the 5s at 81 03. asked; P. & B. traction IS at
way 5s at 81 OF bid
Westinghouse Electric, second preferred,
closed here at 3s@3s%. On the New York
Stock Exchange it closed at 80 bid, and the
first preferred at 40 bid.
After the close Allemania Insurance was
offered at 80, and TeutoAia Insurance at 60.
Railroad News.
CINCINNATI, Oct. l3.-The report of the
fiscal operations of the Baltimore and Ohio
Southwestern Railway for the year ending
June 80 compared with the previous year,
was made public to-day, as follows: