Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-21
PHILADELPHIA co. DECLINES
And Nearly Everything Else on the List
Shows Strength.
LOCAL AND GENERAL FINANCIAL NEWS

ward the finish and closed little above
the lowest Strange to say, Peoples
| Pipeage was firm and higher
| in the face of the decline in
Philadelphia Company, and this fact, in
| conjunction with steady to firm front in
the other gassers, left the softening of the
| leader without significance. Among the
fractions Citizens was strongest and in
most demand and closed on a good gain
over the previous days best price. In the
industrfals Airbrake furnished the feature
with a sale of l40. Luster Mining Company
| improved to 81 bid, gain of u Switch and
Signal was steady to firm, Central traction
freely offered at 25%, with 25A bid, Third
National Bank was bid up to 12S, against
sales at auction last week of l22. and others
we're steady at unchanged quotations.
The Movements of the Day.
Peoples Pipeage opened up at Is sales. ad-
vanced TO 15L sales and closed at l51s@l5L.
Airbrake sold at l40 and closed at 145 asked
First sales of Philadelphia Company were at
q, from which there was a decline to 2l9s at
the second call, a recovery to 2lA at the
third and fairly steady close at 2l34@2lH,
Luster sold at sM and closed at S15@s34. P,
A. & NJ. traction sold at 43s4 and closed at
431&@44 P. & B. traction sold at 253z, Char
tiers Valley Gas at l213 and Citizens trac-
S Da DIP 10 t5e
same price was bid for more, the character
of the demand being such as to indicate
continuance of the advance.
A good demand prevailed for Westfng-
house Electric unassented at 22R, F. b.
traction at 253s Duquesne traction at 20,
Central traction at 291s Switch and Signal Mt
lSa, United States Glass at 65 and in most
cases the offerings were rather liberal, a
little above the prices bid.
Gossip of the Street.
An improved inquiry for Airbrake was
noted by some of the brokers.
A well-posted street railway man talked
as follows about the Northside roads:
"There is no doubt whatever about the ab-
sorption of the P. v. by the P, A. & NJ. In
all probability the details of the deal will be
closed within 60 days and the two roads
merged into one system. Manchester will
pay a cash dividend next month, and what
money remains in the Pleasant Valley treas
ury. If any, after the payment of its pur-
chase money mortgages, etc, will be distrib-
uted among its stockholders. In other
words, there will be a clearing up of cash on
both sides before the amalgamation."
1t is stated in sort of sem1-official way
that the figures on Philadelphia Company
to be sent out with the dividend checks Oc-
tober l will show $4,000 cash on hand and
5000 900 undisputed accounts and bills re-
ceivable. The accounts and bills payable
remain about the same as on June 81, but
duced from s3o2, 900 to $500, 600 1t is expected
that the entire bonded indebtedness will be
wNed out by the end of the fiscal year on
M4fch 81 next
ing the Snee roaror in the Elizabeth field,
will, it is said be in Wednesday.
Those who are buying Duquesne traction
are confident the stock will sell at 35 or bet
ter before Christmas.
Street Railway Earnings.
The following figures anent the July net
earnings of the Rochester and Buffalo street
railway companies, found in the Philadel-
phia Stakeholder, are of interest here, as
some Pittsburg money is invested in them.
The net earnings OF the Rochester COM
pany for July are given at ss4 7s6,an increase
of S14, 126. The figures of the months opera
tions follow:
Spsis.iaE SSsis s IS e. sSs
Net earnings. .84, 786 soosss In sl4 1928
The Buffalo company shows net gain of
sl4, ,753 for July. The other figures follow:
sss:: s;s:s.iss iss;G,ss 1 Is In ss
Net earnings ......s5s,l7 III sss,4l7 In. ga, 758
Foreign Financial.
PARIS, Sept. 20.-Three per cent rentes 99f,
791% centimes for the account
LONDON, Sept 20A P.M.-Close-Consols,
9714 for the account; New York,
Pennsylvania and Ohio lists, 321s; Canadiai
Pacific, sss4: Erie, 969s do. 2ds, i67}1; Illinois
.
common, sl1s; New York Central, 1lls4; Penn |
sylvania, 555s; Reading. 2s; Mexican Gen. |
trail new 4, $50; bar silver, Sssd Money |
market for both short and three months |
bills, l5l6@l per cent.
Financial Notes.
Unlisted street railway securities closed as |
follows: p, A. & NJ traction, 43159A; do |
5s, l05@l06; P. B. traction. 253s@253<; do
IS, 1881 asked: Duquesne traction, 29@29L; |
do IS. fO1ll@1ol54
Andrew Caster sold 20 shares Northern
Bridge at 93
W. r. Thompson Co. offered 100 shares
American Brake Company on change at 56
is guaranteed by the Westinghouse Airbrake
Company.
Westinghouse Electric second preferred
closed at 371a@Sz8.
Philadelphia Company and Messrs. Long,
Hill & Co. and j. B. Barbour the heaviest |
buyers.
Lawrence & Co. sold Airbrake to Long.
Messrs. Long and Barbour bought P, A, &
NJ traction from Sproul Co.
W. r. Thompson & Co. were the sellers of
Citizens traction and A. A Adams took all
that was offered.
Carothers sold p & B. traction to Kuhn
Bros. and the latter took Luster from Hill
Co.
Word has been telegraphed to the office of
CD6 american bunkerS ASSOCIATION that |
checks have been presented
daily at the Birmingham, Ala, banks signed
by Black & Lindsay. There is no such firm
in Birmingham.
The Allegheny Valley Railroad Company
reports that its net earnings in July were
s95, S93 This is 81 $40 ahead of the net earn
lngs in the same time last year, and the fact
that the company has been able to maintain
It's earnings, while those of the Philadelphia
and Erie and the Pennsylvania proper have
shown marked decreases in the net, is quite
gratifying to its friends.
"London Is now overflowing with idle
funds, I" says Henry Clews, "and with 5
per cent rate of interest prevailing on this
and with the better feeling existing in
financial circles, foreign balances are now
again commencing to accumulate here TO
take advantage of the high rates of money |
1t ia lair to assume that the gold shipments
will not again be resumed for the balance
Of this year at least, in which event our
money market is likely to remain comforta-
bly, easy to good borrowers who possess
collaterals."
Sales and Closing Quotations.
Transactions on Change were as follows
FIRST CALL.
40 shares Peoples Pipeage ....... H
80 shares Westinghouse Airbrake. . 11S
25 shares Philadelphia Company. 20
AFTER CALL.
20 share Philadelphia Company ........, nx
SECOND CALL.
30 shares Luster Mining Company - sx
10 shares Philadelphia Company ..........,,,, PIX
90 shares Philadelphia Company y............ YS
AFTER CALL.
90 shares Peoples Pipeage. ISL
THIRD CALL.
30 shares P, A. & NJ. Traction. 4s4
% shares Philadelphia Company ,,,.,... pa
SO shares Philadelphfa Company HX