Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-13
DUQUESNE IS HIGHER
On Heavy Buying for the Account of
Elkins, Widener & Co.
AFTER CONTROL OF THE LINE.
Philadelphia Company Shows q Fair De-
gree of Strength.
ALL THE FINANCIAL NEWS OF THE DAY
MONDAY, Dec, Il

DuQueSne tractl0n 1urnlSneQ tno feature
of the local stock market to-day. At the
first call block of 1000 shares changed
hands at q, j. B. Barbour, Jr, selling to
S. S. Pinkerton, and 20-share lot sold at
2715. These were the only transactions on
Change, but it was understood that con-
siderable business in the stock was closed
up at some of the Offices. Mr.. Plnkerton
reported that he had purchased over 1000
shares after Change Saturday, and the
gossips of the street made the
total sales of the past week be-
tween 5000 and 10000 shares, all
of which corroborated previous state
ments that something was brewing in Du-
quesne. What that something is exactly
remains to be discovered; but it is pretty
well settled that certain insiders who have
been disgruntled for sometime have been
unloading their holdings upon the Elkins-
Wfdener crowd, who have been the buyers
of about all the stock sold OF late. Indeed,
1t is stated authoritatively that certain in
sfders sold direct to the Philadelphia peo-
pie last week 5000. shares at %. The. move
ment in the stock was the talk of
tie street to-day, and inquiries as to
what it meant were heard on every
it was intimated that the Pittsburg
traction magnates were after the control of
DuQuesne, and that they propose to secure
IL Ii Cney can 90 so at anything ike reason
able prices. There is some deal on hand"
said well-in formed street man, land
would not be surprised If the Philadelphia
people eventually turned up in control of
Duquesne. This would mean further prog
ress in the direction of consolidating the
street railway lines of the two cities into
one system" Mr.. Magee, President of the
Duquesne, was mentioned as being consid-
erably exercised over the movement, and it
was said that his trip to Philadelphia late
last week was mainly for the purpose of
getting at the intentions of the Pittsburg
traction clique. From this the inference
was drawn that he was in no way connected
with the selling of late, but became some
what alarmed at its magnitude. AT the close
of the last call one of the brokers who has
been engaged in picking up the stock for
Eastern account, said: "They have received
about 9, 900 shares on this movement. There
were orders for 900 shares in at the call,
but they could not be executed. If they get
much more right away they will have to
pay higher prices" The stock closed at
27l@273z. an advance OF sz@5z over satur-
days close.
There was little trading in Philadelphia
Company at 2Oh@20ss, and the close was
comparatively strong at s9%99O2s Two
2i34 and a small lot of Liberty National
Bank sold at lis, the highest price yet
reached. In the remainder of the list lew
features developed PittsDurg traction was
firmeran fractionally higher, presumably
because of the movement in DuQuesne; Citi-
zens traction was steady to strong; Pitts
Uur5, Youngstown anu AsntaDuIa hallrOaU
WAS bid up to 46% and others were without
notew orthy changes.
Unlisted securities closed as follows: T.,
A. & Nj. traction, 43k asked; P. & B. traction,
trio scrip, 92H bid. No quotations were
made on electric stocks other than bid OF
Il for the unasSented.
To Discuss the Exchange.
Messrs. whitney & Stephenson, who own
a controlling interest in the Petroleum,
Stock and Metal Exchange property, issued
Invitations to-day to the active members to
q meeting at the Duquesne Club Saturday
evening next the object being to get an ex-
preston of views regarding the best policy
to be pursued in the future with regard to
the Exchange. We have no plan or propo-
sitlon to present e sEi said MI; whitney M TINS
will prevail. We believe the character and
volume of trading at the calls can be i'm
proved, and it is for the purpose of consul
end, as much a, anything else, that the meet
ing of the members is asked for"
III It is said % on TIES the street C that the the Union
the first floor OF the building; that the COM
pany will be the owner of the property at
no late day; that the building will be i'm
proved in many respects, and that the quar-
ters now occupied by the exchange men,
bers will be leased to them at a reasonable
rental.
Pittsburg and Fairport Terminal.
The annual meeting of the Pittsburg and
Fairport Terminal Railway Company was
held to-day and the same old Board of Di-
rectors reelected. No figures were given
out for publication, but it was stated that
the report read was eminently satisfactory.
Anthony j. Thomas was elected President
and C. S. Wight Secretary.
P. & A. Drove Yards Company.
At the annual meeting of the above COM
pany, held this morning, the old Board of
Directors was reelected. John McCleave
was elected President and c. 5. Wight Sec
retary and Treasurer. The business of tho
past year W as reported rs somewhat in eX-
cess OF the previous year, despite the fact
that the dressed beef industry was more
prosperous than ever.
The Northside Deal
1t was reported to-day that the deal for the
absorption of the Pleasant Valley Railway
by the Plttsburg, Allegheny and Manchester
Traction Company was in the hands of the
attorneys of the respective companies, and
that its close was likely to be officially an
nounced az any moment.
Sales and Closing Quotations.
Tho transactions recorded on the Ex-
change sales board to-day were as follows:
FIRST CALL.
2shares Pleasant Valley Railway ............. 24Z
J. 600 shares Duquesne traction. q
% shares DuQuesne traction. ................. 27H
15 shares Liberty National Bank.
SECOND CALL.
100 shares Philadelphia Company. ............. 20H