Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-29
DULL DAY ON CHANGE
Only Three Small Transactions at
the Regular Daily Calls.
NO IMPORTANT PRICE CHANGES,
But the List, With One Or Two Exceptions,
Continues Weak.
LOCAL AND GENERAL FINANCIAL NEWS
MONDAY, Nov. %.

|
There was no market for local securities
| to-day worthy of the name. Three small
| transactions occurred on change; no office
business was transacted, so far as learned;
| there was neither any noticeable inquiry
for nor eagerness to sell anything on the
| list, and in the main quotations on the ac-
tive shares closed about where they did
Saturday, though what tendency there was
was toward a lower. range of prices. Pitts
burg and Birmingham traction 5s
sold at 100, closing at that price
asked, and Philadelphia Company
sold at 81, closing at 2OA@21.
These were the only transactions and they
were about the only features. Westing-
house Electric second preferred closed at 81
asked and the scrip at "a asked. Duquesne
traction closed at 27@2S; do 5s ut 100 and In
terest; P. & B. traction, 2411@25; do 5s, 100;
P, A & Nj. traction, 431a@44 Westinghouse
Airbrake was little weaker at l30@132L
less strong. The latter closed officially at
l914@l934, but after the close it was quoted
at 1850 1875 Luster was fractionally lower
at 9Qs1s, and the best bid for Pleasant
Valley was ~ Citizens traction was quite
as firm as anything on the list at 62d96S,
though P. & B. traction was still very strong
as quoted above.
Should Make Money Easier.
According to the Philadelphia Stakeholder
the president of one OF the leading banks of
that city made the somewhat anomalous
but nevertheless correct point on Saturday
that the agitation about the export of gold
would at the present time have undoubtedly
q very perceptible tendency to make the
available supply of money more abundant
and rates consequently easier 1t will, as all
scares OF the kind always do, make pc pie
hesitate about increasing their obligations.
In fact, it induces them to curtall business OBJ
legations in every way possible, and defer en-
gaging in new enterprises. Moreover, it con-
tracts speculation or all kinds, and thus re-
moves for the time being n source of active
demand for money. So for every dollar OF
diminution in the supply OF money by the
loss OF gold by export, the demand 1s cur
tailed to the extent of several dollars. A
feature of the local financial situation, says
the same Journal has been the more abund-
ant supply of money during the pas t few
days. Several of the leading banks and
trust companies have been importuning
houses in the street that require consider
able money at this season to take large
no actual concession in Quotable rates, al
though there undoubtedly will be unless
some contraction occurs in the supply OF
loanable funds.
Financial Notes.
Morris & Brown sold Philadelphia to-day
and Messrs. Arensberg Rinehart bought.
Whitney & Stephenson sold Z. & b. 5s to
Sproul & Co.
charter was issued to-day to the Dravos-
burg Electric Railway Company, to run
from Reynoldton to Dravosburg, Allegheny
county; capital, $4,000.
Southern members Of the Board of Direc-
tors of the Georgia Central Railroad started
to-day for New York. called there by an i'm
perative command OF the New York Mutual
Insurance Company for immediate payment
of 500, 900 advanced by that company TO the
Georgia Central and secured by first mort
gage bonds. The statement that such de-
mand has been made was Officially" denied
yesterday, but is confirmed to-day.
For the third week in November the earn
ings of the P. & W. were S4S6S9. against S44,-
AS for the same week last year, an increase
of $4,24.
Electric second preferred closed in Boston
at 35@S6H.
The forthcoming report of A. P. Hepburn.
Comptroller of the Currency, shows that l63
banks, with an aggregate capital of SIS, ,2S5.-
0O0 were organized during the year; 81 went
into voluntary liquidation and II became
leaving D net increase for the
year OF 93 banks.
Sales and Final Quotations.
Following were the transactions recorded
on the Exchange sales Board to-day:
FIRST CALL.
g. oo0 P. B. traction ........... 100
SECOND CALL.
shares Philadelphia Company. q
AFTER CALL.
50 shares Philadelphia Company.
THIRD CALL-No SALES.
Total sales, IS shares OF stock and s., 900
bonds. Closing bids and offers: