Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-15
A RAID ON PHILLIE.
The Stock Loses Only a Small Frac-
ton Under Heavy Selling.
THE OTHER GAsSERs HOLD FIRM
And the List Generally Shows Q Steady
to Strong Tone
LOCAL AND GENERAL FINANCIAL NEWS
FRIDAY. Oct. Ia.

| FRIDAY, Oct. IA.
The bulging feature of the market to-day
was something that looked like concerted
raid on Philadelphia Company. For sew
eral days past the proceedings on Change
with respect to Philadelphia Company have
had somewhat Suspicious look. There
has been no particular pressure to sell and
no disposition of consequence to buy, but
in general way things have looked as if
someone was trying to jar out some of the
stock. It remained very dull and stub
born, however, until day before yesterday,
when slight sagging tendency set in. To-
day the stock became active. Several of
the brokers appeared openly at the noon
board as sellers and disposed of several
hundred shares, which, however, were so
well absorbed and the consequent de-
cline so slight that if, as intimated, it was
a raid those behind it must have felt a little
chagrlned over the result. The selling
was accompanied by talk about a notice of
cancellation OF contracts to be sent by the
company to some of the manufacturing con-
Germs, which, as noted, proved to be q very
ineffective weapon.
In explanation of the notice mentioned,
Manager Brown talked to The DISPATCH late
this afternoon, as follows: During the sum-
mer we have surplus of gas, which we sell
as best we can to manufacturers and Others
subject to cancellation of contract
when our domestic consum psion, which
pays us the maximum price, increases.
About this season of the year we send out a
cancellation OF these summer contracts and
while we would not care if mono of them
were renewed, fair percentage of them
always are. These are the facts about the
notice. There is nothing unusual about 1t
at ALL It has been the custom of the COM
pany for years"
Luster was comparatively active, with the
tendency downward, and Pleasant Valley
Railway, Union Switch and Signal, Under
ground Cable, United States Glass and Man.
ufacturers' Gas were strong, but otherwise
the market was featureless.
Philadelphia Company sold 1t 22@2lT on
call, closed at elA@s2 and sold at 2lN after
call At 2lZ the demand covered several
hundred shares At the second board,
Luster sold from 81 down to So, between
calls at seller, four months, at Sm6SA at
the third and closed at s@sA. Pleasant
Switch and Signal sold at ls12. closing ut
ls>s@l9; Ctizens National Bank sold at 67H
aud p. A. an. traction 81 at l021x fiat.
Peoples Pipeare was quoted at 1515@l5A
dividend on and Is was bid Tor it ex-divi- |
dend. The books for the dividend close to.
was higher at 2sss bid: Duquesne and P. & |
B. fractions were about steady at Thurs |
days quotations; NJ. & NJ. National Bank |
was hi :her at 7411 bid and others were prac- |
tically unchanged. |
Westinghouse Electric unassented closed |
at "a asked, the second preferred at 3s@Ss15 |
and the scrip at 93@95.
P. B. traction closed at 25@25h: do 5s at
l03 asked: p. A. & NJ. traction at A31@45: do
5S at 10214Q 1925: DuQuesne traction ut 2SsS0 |
2s721; do IS at lO11z asked.
Sales and Closing Quotations.