Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-29
ACTIVE AND HIGHER.
Local Stocks Advance on a Good
Volume of Business.
GASSERS AND ELECTRICS LEAD,
Closely Followed by the Leading Street
Railway Shares.
READING AND P.R.R.'S AUGUST FIG GURES

WEDNESDAY, Sept 2S
A radical change came over the spirit of
the local stock market to-day. There was
no uncertainty or lethargv apparent in any
direction. On the contrary, all was buoy
ancy and activity Orders to buy met one
at every turn. and they appeared to be un-
limited as to size. 1t was as if all who had
been holding off in doubt had suddenly
rushed to their brokers and cried, after the
manner of Lady Macbeth, stop not upon
the order of buying but buy at once. Be-
sides activity and buoyancy the market
also showed breadth, which was not alto
gether reflected in the trading, for there
was an eager inquiry for some
of the shares which did not
figure in the days business.
Strength in the stocks with an Eastern
market, together with some fresh bullish
talk on them, may be credited with portion
OF the responsibility for the days move
ments; but so :ar as could be learned there
were no fresh additions to the bases for
generally strong and active market In
deed, none were necessary. Conditions and
influences have long been favorable and
stimulating, and. with few exceptions,
prices have ruled too low. 1t was only
question of little time until such condl-
tions and influences were properly re-
sponded to. The movement to-day may
have been the beginning of such n response,
but il so it came little in advance of e1-
pectations, as it was not generally looked
for until after the turn of the month.
Features of the Market.
Philadelphia Company was most promi-
nent for activity, furnishing over half the
total business of the day, and it was also
conspicuous for strength. Opening at 22A
sales, it advanced to a25s sales and closed
strong at 2255s@92A. At the noon board 500
shares changed hands at s211% in one lot, the
largest single block of the stock ever sold on
the Exchange, but it was tntimnted that the
seller Immediately bought in 800 shares at
the same price. The principal buyers ella imed
that operations were mainly for home
account, but il was reliably stated that New
York had buying orders in the market. The
success of the company's operations IN the
Elizabeth field. noted in these columns, was
not without effect, and there was also talk
to the effect that the well due to-day on the
Aronson farm, in the Pinhook field, had
come in big.
inghouse Electric second preferred. First
sales were at 1884, and the closing transac-
tions were at BY. The strength came en-
tirely from the East. Sales in Boston oc-
New York stock Exchange was 3934. At the
close the stock looked as If it mIsht go
little higher. but purchases at current prices
carry the risk of q big reaction. Spectators
are in control o. the market.
The unaSsented stock sympathiZed with
the second preferred, being bid up to "a,
which was bid after the close for 100 shares
p, A. & NJ. traction scored an advance,
two small lots selling at 4lsG@+1a, which
were the closing quotations. p. q B. trac-
tion seemed to be a little firmer at 26 sales
and a close at 255s@26: Duquesne traction
was also fractionaliy better; Citizens trac-
tion was higher at 6319@64, and Central trac-
tion improved an eighth over the closing bid
of the previous day.
Peoples Pipeage sold at 1875, closing at
15ss@ 1519: P. & B. traction 5s sold at 1925,
and Masonic Bankat 671a.
UNDERGROUND Cable WAS higher and others
were about unchanged. At one time dur
ing the day SO was bid for Union Switch and
Signal pre- erred, but the closing quotations
were 32@40
In the bank list the only noteworthy feat
ure was furnished by Fidelity Title and
Trust Company, which was offered down to
l2S.
Readings August Business.
The Philadelphia and Reading Railroad
Company's statement for the month of Au-
,ust shows gross receipts of g, ,O22 646 IS;
gross expenses, 81 008, ,34S q: net receipts from
,ther sources, SHSl9 Oh, leaving profit Tor
The month of 81, ,0S2 III Is. From this is de-
1ucteO SlU,ZEi 90 expenditures LOT p6rmanenG
and $625 900 as one-twelfth OF
the current years fixed charges, leaving
surplus OF 1885, ,S95 33, an increase of S49,54 50
with the same month OF August,
1891. The surplus for the nine months of the
current fiscal year is 81, l070SS 9S an increase
Of 1922 Col 60 compared with the same period
ast year. H-F
The statement of business of the Philadel-
phia and Reading Coal and Iron Company
Tor the month OF August shows: Gross re-
ceipts, $l.97l 33T AZ: gross expenses, $l,SA,-
,ls OF, including colliery improvements, $751;
1856 98, and permanent improvements, S.
1O6 ~, leaving n profit from mining of $148-
liz Al. From this is deducted s6sO00 as one
twelfth of current years fixed charges,
leaving a surplus of $67, 4l9 Al, an increase of
S63. 712 l6, compared with the month o.
August, 1891 For the nine months of the cur
rent fscai year there is a deficit OF $780,
'72 49,a decrease OF S456 cos % compared with
the same period last year.
The result of the operation of the Phila-
ielphia and Reading Railroad Company, les
zee OF the Lehigh Valley Railroad. for tile
month of July shows: Receipts 81, 723 Coz 10;
81. l.1s4,9l5 TO- leaving earnings of
S54S 737, an increase OF $S9, 1874 so as compared
with the month OF July, 1891. For the eight |
5s7 so, an increase OF Ssls, ,33I IS compared
With the same period lastyear.
Pennsy's Showing.
The following is the statement of the Au-
gust business of the Pennsylvania Railroad
Company All lines east of Pittsburg and
Erie OR August 1892, as compared with the |
ame month in 1891, show:
Increase I'M gross earnings......... ......s H. 232
Increase IN expenses Z4U, Ii9
Decrease in net earnings. 226, 5E
The eight months of 1897, as compared
With the same period OF 1891, show:
Increase in gross earnings. ST. 1888 163
Increase IN expenses u 90 ga
decrease in net earnings. 159, USl
All lines west of Pittsburg and Erie for
August, 1892. as compared with the same
month in 1891, show:
Increase in gross earnings. $780, 05S
Increase III e4penseS. Zl9 2Dl 1
decrease In net earnings. ", 1888
The eight months OF 1872, as compared |
With the same period of 1891, show:
Increase in gross earnings. 1872 O51
Increase IN e4peilses oU5 Zlz
decrease In Det earnings. l4I l6l
Chicago Street Railway Stocks.
Mr. Yerkes has returned from Europe and |
Insiders have started another upward move |
nent in West and North Chicago street rail- |
Ways. The outside public is mot in it," but |