Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-23
LOCALS ARE STRONG
Under the Lead of the Gassers and
the Chief Industrial,
BUT no BIG CHANGES OCCUR.
Philadslphia Company Most Prominent in
the Trading.
LOCAL AND GENERAL FINANCIAL NEWS

| IVCAL ANU dENEkAL FINANCIAL NEWE
| THURSDAY, Sept "a
The bulls paved mp the turf rather
threateningly to-day. both on the Chicago
Board Of Trade and the New York Stock
Exchange. Wheat advanced materially
and, to . certain extent, corn, oats and pro-
visions sympathized. The bears In Wall
street made demonstration against the
list through Chicago, Burlington and Quincy
and Louisville and Nashville. but they did
not accomplish much, few long stocks
being dislodged On the other hand,
the bulls took hold of Reading on
the report that the Pennsylvania and Read
ing were about to enter into an
agreement that would avert the
on one hand and the coal roads on the other,
and on enormous trading, good percen tage
OF which was by the shorts, the stock ad-
vance6 sharply and maintained its gain
throughout. Other stocks exhibited sur
prising strength, and, as the short interest
Is said to be still quite large in some OF the
leading shares. it is probable the rally will
continues to be mainly professional, there
Is said to be evidence of an early and full
revival of outside interests due, it Is be-
cholera situation and the tendency of money
In the direction of comparative ease.
On the Local Board.
4 steady to strong tone characterized the
local list to-day, but, while Philadelphia
Company continued the upward reaction Of
yesterday and Airbrake continued to ad-
vance, there were no significant price
changes and positive tendency was lack
ing. The shares which changed hands at
the calls, or Immediately thereafter, were
delphta Company, Pleasant Valley Railway,
Citizens traction and CHARTERS Valley Gas,
with the business in Philadelphia Company
q trife heavy at the close at
2sK@29A P. & B. traction opened up with
was sssS. First sales Of Philadelphia Com
pany were at 221s, the last at 22N, and the
close was apparently quite strong at 22N@
s2 Pleasant Valley was dssi traesionalIy Off az
traction sold at 63, with good buying orders
in the hands Of some of the brokers at that
price. but after the sale none OF the stock
sold at 12H closing ut 12I0l2A.
Airbrake was firmer at 140 bid, Standard
Underground Cable advanced to 761a bid,
which fell Off to 1875 asked, the others were
steady to firm at about previously reported
bid Of IS for Consolidated Gas, the first in
many moons. The bid was considered much
too low, however, as was also the bid Of "a
for Pittsburg Gas.
trading, and it was all but neglected in the
bidding and offering. For the unassented
291a was bid and the second preferred was
quoted at S71l@s7A.
United States Glass.
Considerable United States Glass has been
49, Al~Ie
pricos. Yesterday THE DISPATCH was told of
recent sales at 65N. To-day sale OF 100
shares at about IS was reported. and John
T. Patterson noted sale of 120 shares at 651S
made early in the week. A few shares Of
preferred have also been seeking a market.
Mr.. Duncan, Who recently Withdrew from
the old plan-an by himself. Mr.
tSa a was N not the
so the story goes, or with the pronts present
and prospective. He simply became tired
OF the inactivity thrust upon him by the COM
bine and determined to Withdraw and re-
enter the arena as of yore. Friends of U. s.
Glass say he will not antagonize the trust,
which, OF course, remains to be seen.
Nipper's Position.
The statement given out yesterday py an
Official of the Northern Pacific Company,
figures giving a calculation of
of the company, appeared to have an ex-
cellent effect for time in checking the de-
cline. The statement showed that there be-
longs to the stock So, 500, 900 consolidated
bonds reserved for dividends which at
900 land notes secured upon land sold
to actual settlers equal to, l,000, 900;
1000 acres of land in Minnesota acquired
equal in money to 81, 900 600, and 4, 500 900 |
acres OF land in the Dakotas, which, at 81 an |
acre, is equal to So 600, ,000 making total of |
$ss 5o0, GOO PREFERRED stock on outstanding' leaV. w
ing a nominal value of $ll rs per share to |
the lien upon the entire property |
and voting power. 1t was stated also that |
the valuation put upon the land was below |
its actual worth. |
Foreign Financial.
LONDON. Sept. 22.-The bullion in the Bank |
Of England Increased $4,000 during the |
past week. The proportion OF the Bank |
5s xhsn
Amount of bullion gone into the Bank Of |
England on balance to-day $1,000.
LONDON, Sept. 22- P.M.-Close-Consols. |
money, o. for the account; New York, |
and Ohio lists, 82L; Canadian
Pacinc, ssT: Erie, 21s; do 2ds, l07M; Illinois
Central, s914; Mexican ordinary, 22ss: st. Paul
55ss; Reading, 2sssss; Mexican Con.
{ per cent. Rate Of discount in the open
bills, 1-le@lH per cent.
Financial Notes.
Unlisted street railway stocks and bonds
closed rs follows: Duquesne traction, 2sX@
~: do IS, lolH@1o2; p, A. & M. traction.
3a1@45; do 5s. 105@106; P. & B. traction, $3.50 |
81; do 5s, 1o3@l 0S%.
A sale Of 5000 Duquesne traction 6s oc-
lot posted and the price was not learned.
Andrew Caster offered Fidelity Title and
Trust at 13O and bid 12O for a small lot of 1t.
,nee e roarer in the Eiiza6eth field, will not
,e drilled in until Saturday. The pressure
If the snee, it is said, has diminished quite
,erceptibly of late.
The annual meeting of the stockholders of
he Allegheny Heating Company will be
,eld Monday, october g.
After the second call 241 was bid for 1000
OTIS, and II was bid for Allegheny Valley
preferred.
Messrs. Long, Hill & Co., Lawrence q Co.
lelphia Company, and Sproul & Co. and j.
,arothers were the chief buyers.
j. B. Barbour sold DuQuesne traction to |
J Co. and W. ]. Robinson, and Carothers
old P. and B. traction to Sproul & Co.
A. A. Adams bought Citizens traction
It 10 quite evident now that there will be
he lfveliest kind of q battle in the courts |
'ver the question of the right to build ele-
-ated railroads in Philadelphia. The street |
ailway interests are now formally arrayed
gainst the enterprise and determined to |
Exhaust the resources of the law and every
hing else to defeat the scheme. The claim |
3 now made by them that there is enough
litigation Of various kinds provided in their
'rogramme OF action to keep the matter
led up in the courts for at least five years |
belmont & Co. and the other big interests in
Iew York say that as they have publicly
ommitted themselves to build the roads
hey will not be bluffed out OF the deal,
lawyers Of eminence have given
ifferent opinions on the law pertaining to
he subjech and there is, at least, fine, fat
ime in store for them.
~ ooy,,a ~, q ha o,-.- |