Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-14
DUQUESNE AND P. & B.
Move Upward Rather Sharply Under
a Good General Demand,
CLOSING STRONG On THE GAINS.
P. & B., 1t Is Said, Will Re Four Per Cent
= stock Next Year.
GOSSIP, SALES AND CLOSING PRICES
CLOSING STRONG On THE GAINS.
GOSSIP, SALES AND CLOSING PRICES

TUESDAY, D &c. IL.
Duquesne traction was again prominent
for activity and strength to-day, but it was
compelled to divide the honors with Pitts
burg and Birmingham traction, which dis
played surprising strength and was moder-
ately active. Lustre Mining Company,
Allegheny National Bank, Pleasant Valley
Railway and Central traction were also
traded in lightly, but they were completely
overshadowed by the movements of the
two leaders. Duquesne traction opened at
2SZ sales, moved up to 29H sales at the
last call, sold at 29s5 after the close and the
curb close was 299s bid for 200 shares
The movement in the stock was still
the principal topic of discussion
in the street, but there were few fresh ad-
ditions to the stories and gossip current
Monday. 1t was suggested, however, that
the Philadelphia people were after controi
of the line for the purpose of annullinS the
lease; also that some of the Duquesne people
wanted to carry out the Elkins- Wloener
idea of consolidating the PlttsDurg. .Du-
quesne combine with the Pleasant valieyc
Manchester system, and that the selling on
Duquesne was by those who were bitterly
opposed to such a scheme: also tnat tne
stock sold was all ground floor" stun that
was only recently distributed ana was
offered where it was most nkely 10
find purchaser Much moro
of a kindred nature was in circulation: put
alter sitting it thoroughly the only thing
that appeared to be at all definite was tnaC
there was good market for the stock in the
East. 1t is hardly probable that Measrs.
Ell1ins, Widener ct al. would buy 9,Coo or
10000 shares of DuQuesne stock on rising
market, and stand ready to ia Ike more pe-
cause they thought it a good investment;
but IL there is deal looking to farther
combination of street railway interests IL IS
not yet known to the street IN GeneIaI Gedl
way. Other local street railway men besides
the President OF the DuQuesne have quite
recently visited Philadelphia, however,
which lends color to the rumor s;r1a ..
the outline of it will soon be plainly visible;
but at present all that can bo said is that the
East has been a heavy buyer ana tnat the
stock is steadily advancing under the con-
tinuance OF a demand for that account. 1t
may be, as suggested, that some OF the Dn-
quesne insiders started the movement IN
order to get rid of some of their "grouno
floor" brethren before certain schemes were
sprung and developed, but there appears TO
be very little indeed to support the sugges-
tion. 1t is a problem that must solVe
itself, but in figuring on 1t the iact
should not be overlooked that the
building of the Duquesne line 1ntensl'
fed the bitterness engendered between ltS
chief protector and the Pittsourg traction ION
magnates by the cold shoulder given the
former by. the latter after the cable line was
in operation, and that they (Elklns, Wide-
ner, ct al) would probably like nothlnS per
ter than an opportunity TO play ahoIner
winning game of freeZe.out
The strength of p. & B. traction was due,
it was said to Official talk about dividend
next month. The stock will pay quarterly
diyidend of / ner cent, according to such
talk, which will put it on per
cent basis. "I believe there will be dlVl-
dend in January" said gentleman nan well vel,
before with respect to dividends on the
stock and may be now. have Good reason
to believe, however, that the stock will
rank per cent dividend payer through
out the coming year"
In the remainder of the list prominent
features were lacking. Gas shares were
steady Underground cable was iractlohaitGy 1f hiG
P & B. traction closed at 25@251s; Du-
ouesne traction at 291I@29ss and r, A. q NJ.
Alter the close 29ss was bid for Duquesne;
Central traction was Quoted at es7s@?S1s; I;
& B. traction was quoted at 25LsQ2oA, ana
4SA was bid for P, -. & NJ. traction, buyer
50.
Citizens traction 5s were wanted at 1864 at
the second call
Another Extension.
The long talked OF project for the exten-
sion of the Sharpsburg branch of the Citi-
zens traction line to Aspinwall is to be
carried out at last. Work on the extension
will be begun Immediately. A force OF lOO
men has been employed and the officials OF
the company say they will have cars running
by January Is. The terminus will be at a
point near the new West Penn station. 1t Is
said the Aspin wall Land Company gave the
company a bonus of S., 600 for the extension.
At present the line only extends to Guy
asuta the second station beyond Sharpsburg.
Sales and Closing Quotations.
Tho transactions recorded on the E1-
change sales board to-day were as follows:
FIRST CALL.