Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-06
GAS. SHARES HIGHER
And Some of the Street Railway
Shares Are Lower.
DUQUESNE AND,R. & B. WEAKEST
Philadelphia Company Closes Strong on
Fractional Gain.
ALL THE LATEST FINANCIAL NEWS
MONDAY, Dec. 8.

Gas shares were stronger to-day and the
street railway shares weaker; otherwise,
the market was little changed from last
weeks close. Philadelphia Company
ruled dull but steady to firm until the
second call, when sale of a small lot oc-
CURED at 20%, with the final quotations of
that call indicating a continued upward
drift. At the third board sales occurred at
q and the close was strong at 2oX@211s,
with 21 bid for 500 shares buyer-30 P. &
B. traction and Duquesne traction led the
street railways in weakness, and they were
really the only ones to show any appreciable
decline. P. & B. sold at 249S, closing at
24T bid, and Duquesne sold down to 26%,
closing at 265S bid. Airbrake sold at l80Ql3l,
the outside price being paid Tor ODD lots
and the stock closed firm at 12s11Ql3lA:
at 25. and the stock closed offered nt 20.
Central traction closed offered at 2eN. Citl-
zens traction was quoted at 62Q6s55
bid, was wanted at 80 Immediately after the
close. The decline in DuQuesne caused
good deal Of surprise, inasmuch as IL hau
been expected that any change would DC IN
forted themselves by expressing the
conviction that it must be pretty
near point from which II, 1t
price, it would seem as If the approaching
annual meeting ought to stimulate de-
mand Tor it from some source, unoer the
influence of " hich it would recover some OF
its lost ground. The weakness in p. & B. did
not create any special comment, though dis
gust was plainly depicted upon number OF
countenances. The strength OF fhlladei,
phia Company was gratifying feature, ana
there was nothing to Indicate that a Del1ef
in a farther recovery was not general.
Electric was trmer, but no business was
Il ELL ffor n lnGa W ran
IS shares of the second preferred sold at 36Z.
After the transaction the broker who na-
ured on the selling side offered to
trade either way at the same price; cdN Inc
pany will soon be taken into the General
Electric combination are again current IN
Boston. Much OF the recent buying is said
to have been based on the fact that 1mpor-
tant progress is making toward the con-
summation of the negotiations that have
been in progress for some time past; ana
besides this is is known that the earnings OF
the company of late have been very large
The insiders are now picking up all the
stock that they can get, says the Boston
7r0uelLer, and the more enthusiastic OF them
are quoted as predicting 80 for it at an early
date.
In nothing else on the list was there any
movement or interest. Unlisted street rail-
way securities closed as follows: T. 4 b.
traction, 24lz@24sas;' Duquesne traction, 26S
bid; do 5s, 100 anu interest asked; Z" A. 4 Al;
traction, 431a@44; Central traction os, lO4H
bid.
Citizens traction IS were quoted at 1c6 bid,
and Pittsburg traction 5s at l04 bid.
Westinghouse Electric scrip closed at 92h
ga.
Financial Notes.
sproul & Co. sold Airbrake to Lawrence
& Co. and Carothers.
Kuhn Bros, H. NJ. Long and S. Fritz sold
Duquesne to Hill & Co. and J. B. Barbour.
Among recent office sales not reported was
4 En. a NJ 60 fhQ QTT1op
McKelvy, sproul & Co., R. ]. stoney. Jr.,
and j. j. Campbell were the sellers or Phila-
delphia Company and Hill & Co. were the
buyers.
The demand for Pittsburg traction is said
to be based on dividend prospects.
A director OF the Western Union Telegraph
says that the application to list Western
Union stock on the London Stock Exchange
will probably be renewed shortly. The one
objection which has SO far prevented its
being listed cannot be urged now
The Westinghouse Electric Company will
shortly establish transfer agency with the
New England Trust Company of Boston.
The Boston Safe Deposit and Trust COM
pany will act as registrars of the stock.
The Wall Street NelOs says there is money
Ns0i'k ioS m0neS-'n purchases Oh sugar O'i0"
Hambleton & Co., of Baltimore, say: We
have more gold-over $3.50, 900, 000-than any
other country i'll the world and can COM
mand any additional amount we may need.
an entire failure of the Monetary Confer
ence We certainly can. We are not doing
business on a silver basis, and barring the
mine owners no one here cares whether
silver bullion sells at so cents or 81 per
ounce. Gold is our measure of value and
will so remain.
From Sproul & Co.'S market letter: By
noon stimulant was needed to keep up the
excitement the fact that exchange showed
weaker tendency and decline of rates
that checks gold exports, being inadequate
for that purpose. At this juncture Reading
came to the front in a way that main ntained
the bullish tone of the general list. The re-
port. in this connection was that the Htiga-
tion in Pennsylvania to set aside the Lehigh
Valley and Jersey Central leases, was to be
decided forth with in favor of the combine"
j. S. Bache & Co. to Oakley & Co.: There
are so many things in progress which may
affect the market-the meeting of Congress-
the conference at Brussels, the taking up of
ant-option bill, all of which will affect spec
ulation-that we advise our friends to buy
on weak spots and sell on rallies.
Sales and Closing Quotations.
Transactions recorded on tho Exchange
GALES board to-day were az follows:
FIRST CALL.