Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-20
LOCAL SECURITIES.
A Week of Light Trading and Dropping
Prices-Chartiers Valley Gas and Peo-
pies Pipeage the Only Shares to Score
Net Gains-A Long List of Declines.


Net Gains-A Long List of Declines.
The market for local Securities bordered
on stagnation throughout the week ending
to-day, and the general tendency OF price.
was in the downward direction. Transac
tions on Change for the six days aggre.
gated /, $40 shares of stock, S15, 600 bonds and
$40 scrip,against :, sos shares, IS 900 bonds and
s., 3O3 scrip for the five days last week. The
| closing bids to-day, compared with those OF
last week, show the following changes:
Adpances-Chartiers Valley Gas, a; Peo-
Deciines-Phiiadelph Company, 4; Citi.
zens Traction, e; Pleasant Valley railway.
| Is; La Norfa Mining Company, &c; Luster
Mining Company, 4; ?. s T. traction. u;
Il; Union Switch and Signal, q: do pre-
1erred. a: Underground Cable Company, a;
Electric second preferred. ~
The restricting and depressing influences
/, were recited in the daily reports of the mar
ket and they need not be enumerated now.
| Suffice it TO say that the best opinfon OF the
street is that they will not be long contin-
ned. "1he unsettling factors will soon be
forgotten" said conservative and close
observing broker to-day. you remember
how soon the cholera scare lost its influence
and how soon the public lost sight of the
fact that the country was more likely to
suffer from cholera next year than this. So
1t will be in the present case. The people
IL u
election; merchants and manufacturers will
soon see the folly of being respondent over
the possibility of radical changes in the
tariff as in all probability the present
tariff laws will remain in force for some Is
orl8 months yet; business will undoubtedly
continue to be good despite the croakerS,
and look for an early revival in trading in
stocks, accompanied by an upward move
ment in prices. Those who take hold first
will reap the largest gains"
Gas Shares.
Philadelphia Company and Wheeling Gas
declined somewhat, but the other members
OF the group about held their own under a
very light demand. The weakness of Phiia-
delphia Company was ascribed by some to
unfavorable reports concerning the Pin
hook field and by others to sympathy with
the other weak items of the list The COM
pany brought in a number of new
wells during the week, but mono of them
were more than ordinary affairs and If the
the companys condition as to the supply OF
gas was an uniavorable one. 1t still re-
mains to be determined by a blizzard, how
ever whether the company's supply of gas
ments of the officials that it is must be ac-
cepted at par The weakness in Wheeling
Gas was attributed to the continued low
price of oil and falling off in the produe-
tion of the oil fields where it has interests.
Street Railways.
and Birmingham traction up little and its
partial success was the feature OF this
group. The attempt seemed to be concer-
ted and well organized, but the upward
movement met too much stock and it
quickly subsidized The close to-day, how
ever, was fractionaIly above the lowest of
the week, with indications that fresh buying
orders had suddenly come on the market.
Nearly all the other fractions were weak
lecte0 ha
been patiently waftin g for the annual meet
ings of two of the leading Hnes-Citi-
Monday, the 2lst and it is expected they
will be followed by something like activity
in the entire group, the argument being
that showings will be mace that will justify
the bellef that prices are too low and stiml-
late the demand for this class of securities.
The Industrials.
Airbrake was traded in moderately on
Change at 1S5@l36, and it was gossip that
trading on the quiet at about these figures
was quite active. 1t held steady to firm,
while Union Switch and Signal and Electric
were lower and the others barely steady.
Enterprise Mining Company.
Under date of Denver. November Is,
gentleman thoroughly informed on the min
ing interests of Colorado, writes to The DIS
PATCH about the developments at Rico and
the war between the Enterprise and other
companies as follows:
Colorado is just now furnishing q mining
incident of more than usual interest to the
people of Pennsylvania in the great mining
suit brought by the Rico-Aspen against the
Enterprise Mining Company. a great many
Pittsburg people are interested in the latter
company, and brief history OF these Ia
nous mines together with the causes lead
ing up to the litigation is of particular in
teresG at this time. The mines OF both these
companies are located on Dolores Mountain,
at Rico, Colorado. Rico is in the very
heart of the wild and picturesque San Juan
country, about 450 miles from Denver and is
to-day the largest producer OF rich aud high
grade mineral in the silver State.
1.-The Rico Aspen is capitalized for IS 000,-
600, and owns IS mines, eight of wnicn are
now producing about &c. QUO ounces of silver
per month. The company Is controlled by
Albert B. Roeder, the most successful mining
man Colorado has produced in the past
year; David H. Moffatt, the muti-inillionaire;
John +. Searles, the Sugar King, and David
II. Swickheimer, whose discovery OF. the
Enterprise mine and sudden acquisition of
wealth have no parallel except in the case
of Roeder. one of his present partners.
The Enterprise Is a 81, 5OO,0 600 company,
owning IA mines, which have produced con-
siderable ore. This latter company is con-
trolled by George Crawford, mining oper.
ator welknown in the East.
Before going into the existing trouble |
between these companies, u brief history of
the discovery OF these mines should be
given. The principal mines of tile Enter
prise Company are the Enterprise and |
Jumbo. The Enterprise was discovered by |
now heavy stockholder |
in the Rico-Aspen. He is persevering Ger |
county. With his savings from that |
office he engaged in business, and |
then began to invest the profits |
Of his business in prospecting on Dolores |