Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-17
CONTINUED DULLNESS
And Weakness the Chief Features of
the Local List.
AIRBRAKE SELLS A POINT OFF
And Nothing on the Board Shows Ten
dency to Advance.
LOCAL AND GENERAL FINANCIAL NEWS


The market for local securities to-day
presented few new pegs on which to hang
| fresh comment. There was no special in
terest manifested in anything, and
while the market was lacking in
tendency of positive character it
was generally weak. There was q
disposition in some quarters to attribute the
condition Of affairs to the uncertainty and
unsettled feeling created by the result of
the election, particularly with respect to
Pittsburg's leading industries, but in others
it was ascribed as much to activity
in mercantile and manufacturing cir
cles as to any fear of the tu-
ture. When merchants and manufacturers
are actively engaged in their own lines they
have little time TO devote to securities in a
trading way, but when they have leisure by
reason of comparative quietude in their
branches of business they generally make
things pretty lively, one way or the other,
in stocks here and elsewhere. One thing is
certain, and that is the local market pre-
sents some excellent opportunities. Nearly
all prices are very low. They must soon at
tract the public, and when buying COM
mences it is likely to be fairly well prolonged.
This will cause higher prices, with the usual
reactions; professionals will have chances
to get in and out frequently, and the
market will be active enough to suit the
most e1acting. This changed condition of
things is likely to be brought about at any
time, though it must be said that there are
no signs of any change at the moment.
There was a little trading in street railway
bonds and Philadelphia Company early in
the day, and small transactions In Luster
Mining Company, Electric scrip and Air
brake later: The latter sold at lS5 and
closed at 136 asked. against sales at 136 the
previous day; Philadelphia Company was
about steady at the decline; Electric scrip
was lower. and Luster sold at 81. closing at
SA@9L The features of the bond transac-
ti0ns we're a sale of Union Passenger Rail-
way 5s at 1929 and of Citizens traction IS at
Ic6- The sales and bids and offers tell the
story of the day.
In the regular bond list the following quo
tations were established: Allegheny Valley
Railway 1905, 1lO15 bid; Junction railway IS.
III bid: Citizens traction IS, 1O6 bid; Pitts
mortgage Is, lOI@lO2N
The unlisted street railway securities
@ sESsed Do as fsl1gs sso
@2S: do IS, l02 asked; T., A. & NJ. traction,
4315@44; do 5s, 10a5I bid.
Electric was again neglected The second
preferred closed ut 3S asked
Hard to Get Airbrake Transferred.
Brokers were complaining bitterly to-day |
about the difficulty in getting Airbrake
stock transferred. One of them stated that |
he had been three days trying to get a small |
lot of the stock transferred, and he had not |
yet succeeded. There seem to be a few |
screws loose somewhere, or the complaints |
would not be SO general. Some time ago |
well-signed petition was presented to the |
company asking for better transfer serv-
What the company should do is to |
have its stock registered and transferred |
by one of the local companies making
merely nominal, and such action would |
save the company. the brokers and the pub
lie considerable annoyance. the apparent
ly loose and lazy methods now in vogue (,
hamper business materially.
Looking at McCandless.
We regret very much to be obliged, says /
the New York Bulletin. to announce our in
ability, so far, to persuade President Nc
Candless, of the Pittsburg Board OF Fire Un-
derwrtters, to present his views upon the
of placing Pittsburg upon a CO.
insurance basis. In reply to a request from
teous note: 81 would be glad to reply in
FULL but am unwilling to do this for pub
Iication." No matter which position ne
would be glad to hear from one who has
their respect in no small degree. 1t is to be
hoped that the diplomatic President of the
Board will change his mind re- i
garding the stating of his opinions. Mean
while. Mr.. McCandless, agency underwriters
are looking at you.
Sales and Closing Quotations.
Transactions recorded on the Exchange
sales board to-day we're as follows:
FIRST CALL.
1, 600 Union Passenger Railway .I023
z 600 z. b. traction
e 100 Z. & b. traction 5s. 5s.................. 99K
s, 600 Citizens traction 5s s..................1O6
~ shares Phiadephia Company. 2l4 |
AFTER CALL.
100 shares Philadelphia aCompany............. FIX
SECOND CALL.
10 shares Lustre Mining Company.......... sA |
80 Westinghouse Electric Scrip. ............. 81
THIRD CALL.
1oshares Westinghouse Airbrake. ...........I35
Total sales, 140 shares stock, 5000 bonds
Ind $40 scrip. Closing bids and offers: !,