Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-27
Local Securities Continue to Rule
Very Slow and Featureless.
MOST STOCKS HOLD THEIR OWN.
Allegheny Heating Company Scores the
Only Significant Change.
STANDARD PLATE GLASS AT AUCTION
TUESDAY, july @

ence. cit is not to be expected" said one
of the brokers, ''that there will be much
business while the weather continues SO
warm as to practically prohibit outdoor
operations, or while such a feeling of lily
suppressed uneasiness prevails in financial
and general business circles in consequence
of the unrest in the labor ranks So far as
local securities are concerned, however, the
situation is inherently strong Bargains
seem to be fairly numerous, also, and when
the restrictive factors mentioned lose some of
their influence, it is fair to suppose that
good degree of activity will set in, accom-
panied by an upward tendency in most val
ues There is good argument in favor of
the belief in higher range in the fact that
while prices are holding up steadily there
are few stocks pressing on the market In
times of dullness stocks are usually freely
offered, especially If they have no founda-
tion of merit, but during the present dull
spell there has peen a marked lack of pres
sure brought to bear against anything on
the list, the declines that have occurred be-
ing mainly the result of the sales
to realize accrued profits. be-
lieve the market to be in a position
favorable to a general advance. and would
not be surprised if the expected activity
would materialize shortly after the turn of
the month. A vast amount of money is
awaiting Investment and it will seek 1t
oOnly three sales occurred on 'Change-one
f p, A. s Nj. Traction at the first call, one
OF Philadelphia Company at the second,
Pessaan Valley at tSe sSi Neither Of
these items displayed any positive tendency,
tri3is tHGSSa soft I Pleasant Valley also. was
sides the sales mentioned little noteworthy
occurred. With exception OF P. V. and p.
A. NJ. street railway shares about held
Union Switch and Signal closed at l6A asked:
Airbrake was quoted at 12sN@I95, and
Underground Cable was offered at 1874, de-
9ra eas sronp IN shs asnnS neaSePpy p'a aeans
pany presented the feature, being wanted at
IS. against offers to sell at ~ The recent
en pany and its 1' eeneraPiy ngs i%proVed my COM COM
dition are responsible for the ad-
vanced quotations. The last previous
public bid was g. There has been con-
siderable quiet inquiry of late for the
stock, and we were reported one sale recently
made at something better than 15. Peoples
Natural Gas was Is bid. Peoples Pineage
Wheeling Gas was offered at lssz The
figures made on the other items were pro-
nounced "chestnuts."
Standard Plato Glass.
At the Chamber OF Commerce this after
noon 653 shares of Standard Plate Glass
were sold at auction in lots of $50, zoo. 125 so
and q shares at $50 per share. The at
tendance upon the sale was light |
Hugh S. Craig. the attorney. who took each |
lot as it was offered at the price named. |
The supposition was that Mr. Craig repre- |
sented lenders with whom the stock had |
been hypothecated. Prior to the sale Auc- |
Quimpy, assignee Of william E. sohmertz
was stated that Of the stock offered by the
Third National Bank 100 shares should re-
vert to the owner, as the loan for which
paid and title Gould not be given to anyone
who might purchase them. Nevertheless
everything went stated. In conversation
the brokers present at the sale said that
the stock sold was the last that would be
thrown on the market. "The company's
Sen eney sre making a more snd besser ra glass ass
than ever before, and papers have already
been filed in an application for the discharge
there were sales on the quiet some weeks
ago as high as g."
Gas Companies' Operations Afield.
The leading natural gas companies, while
in good shape as to supplies of gas are prod
ding the earth quite actively in search of
fresh supplies. Down the river the Ohio VAL
ley Gas Company is putting down we'll on
of Little sewickley creek. The Bridgewater
Company is putting down one on the Neely
farm in the same vicinity, and another on
the Wilson farm just back of Leetsdale.
The Peoples Natural Gas Company is en-
gagged in putting two new holes in its prop |
erty in the Pinhook region. and the Manu-
factnrers' and the Equitable are also max
ing one or two fresh ventures, the former on |
the Pinhook anticlinal and the latter not
far from the Mcdonald oil field. The Phila-
phia Company is drilling seven wells on its
%<,f 1ov IN AfS1I&
Verona. They are on the anticlinal line ex-
tending to the northeast of Verona. Three
wells owned by the same company near
Steele and Boyle farms, about five
miles northeast of Wildwood. Three wells
Ire being drilled in Moon township near
mervilIe farms. Four are going down near
CHARTERS on the Cole, Leach and Aiken
farms. The well on the Cole lease was e1-
pected IN to-day: It is in the extreme
drilled by the company in the Bellevernon
field is being closely watched, as 1t is re- |
yarded somewhat in the light Of a test well
being put down in Washington county. Two |
ire near Venice on the Sterling farm, one at
Linden on the Weller lease and two near
Tinleyville on the MCGOWAN and Logger
arms. The company is also drilling for |
'as on the Lovett farm near Turtle Creek.
Financial Notes.
Westinghouse Electric (new) closed az 2s
Isked.
Westinghouse Electric scrip was quoted at
1880 per cent.
K. L. and A. Miller are no longer members
If the Exchange, having transferred their
stock. |
Andrew Caster reported the sale of 30
hares Allegheny Heating Company sat the ,
Market" somewhere between IS and Tx.
Pittsburg and Mexican Tin was offered on
Unlisted street railway securities closed as ;
ollows: Duquesne Traction, 2S1<@2s1a; do | |
:, lOOA@lc0H; r. B. Traction, 6@251z: do
$, 1Ol11@l0l1a; p, A. & NJ. Traction, A@l1%. ,
A cnarter was sgranted to-day to the Excel
dor Flint Glass Company, of Kensington.
" festmoreland county: business office Pitts .
,urg: capital. $4,000. The directors are John
James McClearv. Allegheny. I
Reginald II. Ward, in a financial letter to
he New York Recorder, writes on electric
,tocks as follows: Take the Edison General {
of electric lighting, power etc. | Z
The only opposition of moment is the West
nghouse Company, and this. in my judg- !
The management Is the best and the possi |
,ilities of electricity are practically bound. |
ess. The earnings for the stock are MARVEL | D.,
'us, Bearing upon this point the earnings :
II the company for the past two months :
re semi-ofhciaIly stated ut about 100 per
ent increase. 1t II clear that with such l
arn1ngs shareholders are bound to receive
Henry Willard is reported as telling to his !
riends that he has direct advfces from LON | {
ION and Berlin that operators and capital. !
sts az tnose centers VIII take an active in !
ct any encouragement from New York | :
lie expresses the opinion that there is .
ding 70 be large advance in railroad :
Illinois Central has declared a 2L per cent
ividend, payable September L !
For She third week in July Wheeling and