Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-13
STOCKS OPEN FIRM,
But Some of the Leaders Sympa-
thiZe With Eastern Weakness.
PHILLIE AND ELECTRIC DOWN
And Union Switch and Signal Loses Some,
of Its Gain.
AIRBRAKE AND DUQUEsNE BUOYANT


nent and the shadow of the cholera. The
feeling prevalent in Wall street extended
to other points to certain extent and it
found something of a reflection here, par
ticularly in the shares of the local list
which have market in New York and
Boston. The report of a case of
cholera in Jeanette came too late
to have any effect on Change,
and it is well it did, for it was subsequently
said by a Jeanette physician who made a
thorough examination to have been with
out foundation. Good authorities do not be-
lieve cholera will secure foothold in this
| coun try this year, and they do not believe
the scare, or the other factors now promi-
nent. will seriously interfere with general
trade "The volume of business in progress"
says one, 'is large and its character sound
| and singularly free from speculative risks.
Currency conditions are well adapted to the
requirements of the season, and there is little
| or no fear of disturbance ON this account.
The crop situation, although indicating a
great falling off from last years tremendous
yield, is by no means unfavorable and there
| Is abundant evidence of the prosperity of
the agricultural interests throughout great
portion OF the country. The manufactur-
ing situation. showing increased activity in
woolens cottons and silks, and the large
| consumption of iron and of staple products
generally, reflect much more substantial
prosperity tNan has OFTEN SHOWN 1tSel1 IN
more active times on the Exchanges and in
wider range Of speculative ventures. A
calm survey of the situation affords ample
evidence that its unfavorable features, In
cludfng the cholera scare, the fear of con-
tinued gold exports, the unfortunate condt-
tfons prevailing throughout so great part
OF Europe, and the disturbing influences OF
the Presiden tai campaign, are Offset by con-
dftions that justify the expectation of a sea-
son OF lair business activity and prosperity"
Course of the Local Market.
Philadelphia Company, Duquesne Trac-
tion, Exchange National Bank, Westing-
house Airbrake, Pleasant Valley Railway,
Union Switch and Signal, Westinghouse
Electric second preferred, P. & B. Traction
and Manufacturers Gas were the active
shares on Change to-day. The entire list
opened strong, but Philadelphia Company
and Westinghouse Electric weakened later,
in sympathy with the course of the Eastern
markets, and some of the other shares fol-
lowed the leaders. DuQuesne Traction and
Airbrake were notably strong throughout.
and nearly all the others were steady. The
chara cter of the demand for Duquesne was
high, and the inquiry for P. & B. Traction,
Pleasant Valley and Airbrake was strong.
Philadelphia Company opened at 237s
sales, sold down to % and closed 22T@231s;
Duquesne Traction sold at 29ss and closed az
1913 BID, the latter price being bid by Rea
Bros & Co. after the close for 500 shares; Ex-
change National Bank sold at $50, closing at
IS bid; Westinghouse Airbrake sold at 1890
ISs1S, closing at 1SsH@l4o: Union Switch ana
tric second preferred opened at s7Z sales,
sold up to 37sss and closed at S7ss@S7h. In |
Boston early sales were at 3Sas but |
the closing figures here. For the first pre- |
ferred 80 was bid. p. & B. traction, which |
closed at 25H@261s, SOLD at a6 after the close,
and Manufacturers Gas, which closed at 2s1l |
asked, sold at IS to the extent of 100 shares |
just after the last call and more could have |
been sold at the same price.
The shares which did not figure in the |
trading were steady, though Central Trac- |
tion did not appear to be more than barely |
SO. 1t was certainly less strong than at the |
one of the features of the last call was a |
bid of IS for Westinghouse Brake Company, |
limited.
traction and l3s for foo shares Of Airbrake;
Philadelphia Company was offered at g, |
p: \ B. traction at 26 and Natatorium
Gossip of the Street.
It was learned to-day that the employees of |
the West Shore road suDerintended some
tests last Friday of the Westinghouse Air
brake and the brake manufactured by the
New York Brake Company and that the
latter came out second best. This is con-
sidered very significant and important, as
the test of both brakes was made entirely
by those friendly to the New York COM
pany. With the exception of Mr.. H. H.
Westinghouse none of the people identified
with the home company were present at the
tests. and he took no part in them
TloWer of New SAID Yorh sha' GHo
largely interested in the New York Brake
Company, was the Investigator OF the tests.
perts had been permitted to handle the
Westing house brake on the occasion of the |
test the victory would have been even more
company against the New York company
for Infringement comes up next month, and
some think the test last Friday was for the
purpose Of enabling the opposition to de-
eide as to the amount OF vigor to put into
the fight
A Philadelphia Company stockholder re-
marked this afternoon that he had heard
the executive board would on Tuesday |
an increase in the company's
dividend rate from to per cent per
annum.
thou I'll vague idea that the inquiry for Pitts
burg & Castle Shannon Railroad stock that
has been noted for some time past means
that the road is tof1sure in some way in the
rumored consolidation of various street rail-
way lines. The Castle Shannon has a total
mileage of 81 miles, and runs between Pitts
962s shares OF the par value of $50 each,
and its funded debt $a35,0O0. On March T.
], 1891, its new incline plane was put into
rights Of way, was slsl,sl5. The total receipts
Of the company last year were $l3l, 231: ex-
penditures, Si05,006; net earnings, Sl6224: in
IefeSt on DOnOS, $lz,zoZ; Dalance, $685.. PaS-
sengers carried on the incline and railroad,
,sA654; on the incline alone, 359. 265: total
Number of passengers 4l,9l9 an increase OF
l47,459 over the previous year. The increase
in sales Of coal by the company was 53s 222
bushels, adding to the income from this
source s34, l52 over the preceding year.
Talk was heard to-day to the effect that
The Philadelphia Company and Bridgewater
Company had been very lucky afield.
One OF the sellers of Philadelphia Com
pany inttmated that a portion OF the selling |
operations was for New York account.
Imports at New York.
The following table shows the imports tex
,lustve of specie) at the port of New York
Tor the week ending September 9, 1892:
1892 1891.
0rygoods. 2s4 . 1859, ~
General merchan dise.... g. 926, 3e1 60O2 Asa
TOTAL for week..........S II 800 645 T. $751; $50 .
reported 3SS, ass 245 S6S as $50
Since january ....si00, S5S. 500 t376 340 6l0
Financial Notes