Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-20
WEAKNESS THE RULE.
The Railroad Strike Causes Droop-
ing Speculative Markets.
LOCAL STOCKS BARELY STEADY.
Electric Advances Sharply, Reacts and
Closes on q Recovery.
PHILADELPHIA CO. A LITTLE HEAVY

FRIDAY, Aug. 19F
| Weakness characterized the speculative
markets East and West to-day, the railroad
strike at Buffalo being the responsible in
| fuence. 1t was fifteen years ago this sum-
mer that the railroads had to face such
strike as is now in progress in Buffalo.
Then the strike was begun by the employees
of the Baltimore and Ohio, spread to the
entire Pennsvlvania Railroad system and
the result was the consumption by fire of
| 3,825 loaded and empty freight cars and 123
locomotives As these were figured the
loss to the companies was little matter of
1000, 900. The city of Pittsburg was forced
to bear the costs, which were assessed upon
the county of Allegheny and the county
was compelled to issue bonds to meet the
losses due to lawlessness. at looks very
much" says an Eastern paper, Gas if Buffalo
and Erie county were going through a kim
dergarten school to show that employees are
not owners. 1t Is unfortunate that this
trouble cannot be settled at once. If the
men we're in the right tie question would
be entirely different. But when they pro-
pose to take the chances of committing the
crime of incendiarism and arson they put
themselves out of the pale of civilization
the law for such crimes, which means i'm
prisonment for life. The effect upon values
of railroad securities dealt in on the Stock
EsehanEe is really "nmportans Never
were so firmly held and the spirit OF
riot and vandalism 30 rampant. 1t is true
that the advance which was just about to be
inaugurated has for the moment been
checked w hen the strong arm of the law
has been extended peace restored. and con-
ditions assumed their normal sway-vhich
will be shortly-the upward course of the
market will be resumed, and the generally
prosperous condition of the country reflected
in increased activity and strength in cor
porate securities" Though the effect on
railroad securities may be unimportant, the
strike was undoubtedly the cause of the
slumps East and West, and, to a
influence locally. It was quoted
by some of the brokers as partly responsible
Tor the comparative apathy and heaviness
OF, on the local bourse, and predictions OF
better things were qualified so as TO cover
all nnfavorable developments al the storm
centers of the industrial world
Course OF Local securitisA
The market for local securities to-day was
an erratic one, what there was of 1t. es- |
pecially with regard to Westinghouse Elec- |
trio and Pnilsdelphia Company. The former |
opened with the boom still in progress sold |
up to Ss here and to s3h in Boston, reacted
to 8. here and 3ls1 in Boston, and then recov- |
cred and closed at something better than |
the final figures of the previous day. At |
the close the brokers and traders we're a
little at sea on the stock, with opinions 1
about equally divided as to its course in the
near future; The unassented sold
at 9o1s Only one small transaction
at 2lS, with something of a reactionary
tendency apparent. There was no particular
pressure to sell, but the offerings were COM
the last cali. and the absence OF the good
demand that has been marked feature so
long gave the stock rather weak look at
After the close 100 shares were
off red at 2l1a and 2l1I was bid for 500 shares.
PeoplesPipeage was firm at 151s0l6, Peoples
Natural Gas advanced to q did, and the
tions. Near the close there was something
of a movement in Duquesne Traction at
29A, with which exception the street rail-
way way shares were teaLnTsdess Central arso
at 6l]5@62L, Pittsbur T, action at 81 bid and
Pleasant Valley at 255a0261I. but there was
Of them Union Switch and signal was firmer.
1t sold early at l711. closed at 171s4I7ss, and
sold at III after The close, with the same
price bid Ior more Underground able al |
first call it sold at a. and under an
inquiry that was more marked tor character
At 74@75.. o. s. Glass common opened at
i9A bid, and closed offered ut 66aI ex. divi-
dend oil per cent. The general close OF the |
marllet was unsettled and signs of a rea cti n |
In some OF the leading specialties were not |
acking.
That Western Electric Railroad.
Work upon the electric railroad that is to |
connect Chicago with St. Louis, says the |
Journal Of Commerce, of Chicago, has begun,
md will be pushed vigorously. 1t is claimed
hat this road, which follows an airline to
he great reducing of the distance as COM
pared with other railroads, will bring the |
wo cities within three hours OF each other. |
Wonderful as this seems, it Is likely to be ac-
.ompiished. Such a road will mark an era |
n railroading and, IL fully successful, will |
)e initiated in other parts of the country. |
such a system would transport passengers |
rom Chicago to New ork in 10 hours and
existing modes of travel.
Electricity is yet in its infancy and has yet
N impori ant figure to cut in the advance
nent Of mankind.
Bank Dividends.
The Comptroller of the Currency has de-
Jared dividends to creditors of iDsolvent q
lational banks as follows: A fourth divi. 4
lend of 3& per cent in favor of creditors of
he First National Bank of Anderson, Ind, q
making in all 43 per cent on claims proved.
mounting to $l43 667. A second dividend OF
5 per cent in favor of creditors OF the First |
National Bank OF Clearfield, Pa, making in
II 80 per cent on claims proved amounting , G
o $l45 0S5. A second dividend of Is per cent
n favor of creditors OF the First National | G
tank of Wilmington, N. c., making in all 80
YER cent on claims proved amounting to q
5i9.0!5.
Railroad Earnings.
Statement of approximate earnings OF the d
Youngstown and Ashtabula Rail- Q
Dad for the month OF July, 1892:
expenses. "a, 5Sl 81