Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-19
ANOTHER QUIET DAY
In the Local Stock Market, With
Most Shares Weak.
P. g. B. TRACTION STILL DROPPING.
Airbrake Continues to Be the Only Really
Strong Point.
LOCAL AND GENERAL FINANCIAL NEWS
FPrnAv Nov. IA.

FRIDAY, Nov. 18.
There was little trading in P, A. & NJ.
traction bonds, Union Switch and Signal,
2. & B. traction stock and bonds and West
lnghouse Airbrake on Change to-day, but
the market as q whole, according to one OF
the brokers, was Every small potatoes and
few in hill. am unable to understand" !"
continued the broker, who, by the way, is
generally recognized as an authority, "why
the market holds dull and teatureless so
long. Money is plentiful, prices are low
and other conditions are not unfavorable.
Given these essentials, therefore, and
the dullness is inexplicable. 1t
may be, however, that the result Of the
elections has chilled tho ardor Of some
OF our leading traders. 1t may be, also,
The DISPATCH has stated, that those in mer-
camille and manufacturing lines are SO
busily engaged as to be compelled to neglect
the market for the time being. There IS GER
tainly some cause, but no depressing infu-
ence seems to be especially prominent. l
have an idea, however, that we have seen
the worst, and that trading will pick up in
few days. Investors ought to be taking
hold pretty soon, and have no doubt the
boys are already fguring on getting little
Union Switch and Signal sold at l912, Clos
ing at l9@l9ss; P. & B. traction sold down to
a. closing at 2S1s bid; small lot of Atrbrake
sold at l36, with 100 shares offered at the
same price; p, A. & NJ. bonds sold at 1O3 and
P. & B. bonds at lO0 which was the extent of
the market on Change.
In the remainder of the list there were
very few changes in prices, though the mar
ket, as a whole, was weak and changes in
all cases were slight losses.
The unlisted securities closed as follows:
Westinghouse Electric second preferred
37@3719: P. B. traction, 2Szs@2tH: do 5s,
a9M@lO0; Duquesne traction. 2711@2s: do 5s
l02 asked; r, A. & NJ. traction, 431a@A; do
5s, lo2s@l03H
Citizens Traction.
The Citizens Traction Company sends out
the following circular letter to stockhold-
ers: d.
"At the annual meeting of this company,
to be held November 2lst inst, there will be
submitted for the approval or disapproval
of the stockholders the question of leasing
the property and franchises OF the Penn
Street Railway Company and guaranteeing
the principal and interest Of an issue OF
S250,000 The line of the Penn Street
Railway Company is now being constructed
from the present eastern terminus OF this
company by way of Frankstown avenue to
Williamsburg. 1t Is believed by the manage
ment of the traction company that the Penn
Street Railway Company will prove to be
very valuable property in the near future.
develop an extensive territory not now
within the convenient reach of rapid tran
sit line and in case the lease is made, add
materially to the receipts and profits OF this
company"
According to street report the contingent
in the Citizens traction known as "out-
siders'' propose to make an effort to elect
some one at the coming meeting to repre-
sent them on the Board OF Directors, and
they have concluded to unite on Mr. S. S.
Pinkerton, the well-known broker. Mr.
Pinkerton is in sympathy with the "out-
side" element and in favor of a more liberal
policy in the management of the company.
1t is understood that 5000 shares are pledged
to the effort, but 000 are needed, and it is
believed they can be obtained. Those voted
on the cumulative plan will elect whoever
they are voted for.
October Earnings of p, Y. & A.
Following is a statement of the earnings
and expenses of the Pittsburg, Youngstown
and Ashtabula Railroad for the month of
October, 1892:
farnlngs VIZ 4Z4 %
Expenses o., 30 Il
Net earnings OBSERVATION-DISCLOSURES $40. I49 81
Net earnings same month 1857. 5S.5 05
Decrease ............ ............... SIS. 365 II
Net earnings ten months of 1897 S4sl. U23 "a
Net earnings ten months of 1891 40 1s1 IS