Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-11
mo LIFE IN LOCALS.
Trading Very Light at the Calls and
Changes Unimportant
GAS SHARES AND INDUSTRIALS
Lead in Point of Strength and fractions
in Point of Weakness.
LOCAL AND GENERAL FINANCIAL NEWS

The financial outlook in New York was
bearish again to-day from Stock Ex-
change point Of view, the bulk of the busi-
ness being done at 61S@7 per cent, with the
closing rate 5 per cent The market was
| steady to strong, however, under the lead
of such shares as Chicago Gas, Distillers
! and others which are being manip-
| ulated by the Keene-W ormser
| clique. There was rumor current that the
Pennsylvania had advanced rates and given
other indications of q cessation OF hos
tilities against the Reading and its allies,
but, while some color was given the rumor
by an advance in the latter. the street
failed to find any one in authority who would
confirm it. The general market ruled fairly
bullish and closed we'll up despite the close
working of money.
On the Chicago Board of Trade a compar-
atfvely strong sentiment percolated through
tine pits. without resulting in any materiai
price changes.
The Local Situation.
Qu1etude was the chief characteristic of
the home market for stocks and bonds, the
movement on change being quite as cir
cumscribed as at any time during the past
midsummer period. Prices were we'll
sustained, notwithstanding the dull
ness, and this was considered
very encouraging feature. Regard
ing the Immediate future OF the market
opinions were somewhat divergent: Some
OF the street people took the position that
q dull and featureless market until after the
election was probable. Others contended
that trading would be good but irregular
until after existing street railway meetings
and problems had been held and solved; and
others expressed the opinion that the re-
ports OF tight money from the East Would
The ma l1et has been peculiar one for sew
eral weeks past in the respect that 1t has
shown the greatest activity Immediately
after fit of ieathly dullness. The extreme
of dullness was witnessed to-day. Tho eN-
treme of animation may be witnessed to-
morrow.
The only items traded in were Duquesne
traction stock and bonds, Luster Mining
Company, Union Switch and Signal and F.,
A. s. NJ. traction bonds, the only features
developed by the trading being a continued
and a slightly firmer tone in Union Switch
and Signal Duquesne sold in small wey
at 2s55s, closing ut 2s14@2S34, and the bonds
sold tightly at l0l1I Union Switch and Sig
nal sold at 1881, with odd lot selling at
1s1s, and closed at lsl4@lsA. and r, A. u NJ.
truction bonds sold at l09H.
In the other street railways Central trac-
tion and Citizens traction were easier,
Pittsburg traction and p. & B. traction were
fractionallv higher in the bidding, and
Pleasant Valley and p, A. and NJ. were
barely steady a little below the closing quo
tations of last week
Gas shares wero steady to firm, with Peo.
pies Natural Gas, Peoples PiDeasc and
Allegheny Heating Company higher
Airbrnke was quoted at 135@l36la at the
close: Underground Cable and United States
Glass we're strong and Electric was higher
ond preferred: in Boston a5 about the same
figures and in New York at 371a bid Tor the
second preferred and 491a bid for the nrst
preferred. The strength was ascribed to the
,,1,soo aDf a
was ready for market.
Considerably attention was paid to mining
shares without resulting in business Elec-
trio unaSSented was higher and others were
qu1et and unchanged.
Citizens traction 5s were quoted at 106 bid
and Pittsburg traction 5s at l04 bid.
traction. 2s71S@ess4 do %. 1olss@lOl7l; 2. & B.
traction, s5M bid; do o., lO1 and interest
asked: 2, A. Il N. traction: 4419@45: do 5s,
1920 l03: Pleasant Valley 81, 102 bid; Allegheny
Valley Railway preferred, Is asked.
= Westinghouse Electric.
Treasurer KobDey, of the Westin ghouse
Electric Company, who was in Boston last
Friday, told the Boston News Bureau that
the incandescent lamp business of the West
inghouse Company does not form such a
Ia rye part Of the company's business as gen.
erllly supposed. He also said that the exact
net earnings for the month of August just
made up, outside of the incandescent lamp
business, were Sle6, ,397 s5 This was after
deducting all general and extraordinary ex-
penseS.
The following is from the Boston Adre,-
tis-r: "TEe decision. it will be remembered,
was in favor of the Edison Company. The
General Electric Company owns the Edison
Company i'll the form of stock, but does not
own its assets. the two never having become
amalgamated or thoroughly consolidated.
The Edison Company must be kept alive as
q distinct corporation In order to take
advantage of these suits. Hence it is
good opinion that the directors, who
have been holding sessions Tor several
days past, will probably vote not to
ask damages from the other companies who
have been infringing. Tor the minute the
General Electric Company attempts TO col
lect these damages the Edison will have to
show the Court that it is a corporation. The
minute they do that the General Electric
becomes q trust, and runs up against the
antitrust law. A man pretty well posted
in electric matters says that If $75 600 in cash
was offered to the directors of the General
Electric Company in lieu for all damages
which they expect to collect from cornpa-
nies that have been using the Edison lamp,
it would not take them Is minutes to accept
the offer"
Government Crop Reports.
WASHINGTON, Oct. l0.-The report for wheat
gives the State averages Of yield per acre,
ranging from 6 to % bushels, and averaging
l3 bushels The averages of the principal
wheat growing States are follows: New
York, I43; Pennsylvania, IA: Texas, 1913;
Ohio, 1872; Michigan, A.7; Indiana, a. Illinois,
l47: Wisconsin, 11.5: Minnesota, Iii: Iowa.
ll.5: Missouri. l2.l; Kansas, Ill: Nebraska,
1875; South Dakota, l2.5; North DAKOTA, 10 2:
Washington, 1872; Oregon, l5.7: California,
1913.
The temperature for the last week in
Septembar was especially beneficial to com
merce. During the past ten years there
were three, (lSS3, 1857 and 1891, which re-
ported worse condition in October and
made y ield of 90 to % bushels per acre The
range of yields or ten years has been from
20 10 q bushels. The present condition in
dicates yield below the average. The
State averages for the commercial belt are
as follows: Ohio. so; Indiana, II; Illinois, n;
Iowa, 70; Missouri, 81; KansasS7o; Nebraska
7S. Only the figures OF Ohio and Missouri
are up 10 the general average. The average
yield OF oats is 24.3 bushels. The last report
of condition was the lowest in ten years.
that of 1880 excepted, the average being 64.i
against 76.9 this year. The average for esti-
mated State yields of rye is l2.7 bushels.
The October statistical returns OF the De-
partment Of Agriculture make the general
condition of corn 70 6, against 1916 for last
month. The absence or frost has been favor
able to the ripening for late and immature
areas.
Condition of potatoes has declined during
the past month from 746 to 67.7. In Michi-
gan tubers are generally small on account
OF drought. Low condition is general in the
Eastern, Middle, Central and Western
States 1t is highest in the Rocky Mountain