Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-06
Local Securities,


ending to-day aggregated S,3O3 shares OF
stock, $4,000 bonds and sl696 scrip, agninst
8,l4l shares stock and s44 scrip last week
Trading was fair, as the figures show, though
toward the close it was restricted by the in
terest liz the progress II the national cam
.nsisn: Tle closing biSk to-day, compared
with thoseoi q week ago, show the follow
ing changes:
Advances-People's Natural Gas and Pipe
age Company, 4; Philadelphia Company. *
Central traction, IS; Westinghouse Air
brake. ~; Stancaru Underground Cable,
Il: United states Glass common. u
Zee ines-Citizens traction, e; Pleasant
Valley Railway, 1s; Union Switch and Signal
comm, n. u.
Gas Shares.
The only note worthy feature IF the week
in this group Was the recovery in Philadel-
phia Company early, a weakening tendency
later, and Il rally and strong close to-day
TIE demand this morning appeared to be
general, but IL was quiet, and was pursued
with the evidenG intention of get
ting the stock without putting up
the price much. The street inquiry
was particularly good. and it, WIS
reported that several transactions occurred
at 32I 4T22Ss The opinion that the colnieany
has an abundance of gas for its household
consumers gained strength, and the bring
in in OF a big well just east OF the Murrays-
vile field indirectly strengthened the senti-
ment ON the stock. The gas in this well was
Taysviile and Grapev1lle fields produced
their enormCEs supplies, and it is ARMED
b. many tnat deeper drilling in these fields,
TO the deCth which gas was found in
the new well, Will result in opening up
sands equally as prolific as the original ones.
l. TINS argument proves to be correct
as it is understood it will be given a prac-
tical test-the stock will doubtless respond
with material advance. Peoples Natural
Gas and Pipeage was in goon demand and
ruled strung, but the other members of the
n md
CHARTERS and Wheeling inclined to weak
ness.
Street Railways.
Central traction fluctuated more than
usual, closing on slight net gain. 1t ad-
vanced early on the Mayors veto of the
Bellefield street railway ordinance,
reacted on the failure of Coun-
ellis 10 sustain the Mayor and
closed quiet with the most of its early gain
lost. Inc officials oI the company charged
that the action OF Councils reflected treach-
ery on the part of the DuQuesue people, and
from their statement of tile case it looks q s il
they had really received very bad, not to
say rcscally. treatment Their grievances
promise to De aired in court, and it is in
Minated that certain mysterious things that
have happened in street railway circles in
the ihasJ few years, and which the public
would like to know something about,
VIII be freely AM, and fully fully ventilated.
the Central people have of inside street rail
way matters may be used in such u way as
to obtain Tor them what seems to be their
rights, but to a layman it really looks as If
the Widener Elkins-Magee crowd would
continue to shape street railway develop
ments to suit pans arranged long ago-re-
Eardless of the rights ofothers-for the ulti.
mate control OF the street railway lines of
the two cities.
Duquesne traction ruled weak, but IL sub.
seQuently recovered 4 portion of its decline
anu closed looking as ii the predictions that
it would be taken hold of alter the election
ana advanced were likely to be fulfilled.
The other traction shares were weak
throughout on very light trading. There
was considerable changing around of small
lots or Pleasant Valley railway Tor the pur-
pose OF trading for p, A. & NJ traction at
the rate of seven shares for four, which,
with the movements in Central and Du-
quesne, constituted the features OF the
group.
Industrials.
The sharp recovery in Westinghouse
Airbrake and the strength of Union Switch
and Signal, both common and preferred,
we're the most conspicuous features CT the
shares commonly classified under the above
head. The stimulating figures published
exclusively in The DISPATCH a week ago
were responsible for the course OF the
Switch and Signal stocks, ana the sub
siGence of the scare created by exaggerated
reports regarding the New York Brake
Company and the New York Central Rail-
road Company was presumably the moving
cause in the case OF Airbrake.
UndergI ound Cable and United States
Glass were firmly held with reported trans
actions in Glass common at 662 and the pre-
Ierred at ll41a. The sentiment with regard
TO Glass as somewhat mere buliish than a
month or so ego and n higher range in the
near future Tor both classes OF the stock
would cause no surprise in well-informed
circles.
Electric second preferred held quiet and
firm all week at about 3S1<G39, and the first
preferred ruled steady around par. 1t is said
in excellent quarters that deal between
tue Westinghouse and General Electric