Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-22
LOCALS ARE ACTIVE
In a Comparative Way and the
Market Somewhat Firmer.
P. & B. TRACTION QUITE BUeYANT.
Citizens Traction and Airbrake the Weak
spots Of the List
RESULTS OF CORPORATION MEETINGS
MONDAY, Nov. 81.

MONDAY, Nov. q.
The Eastern stock market ruled weak to-
day in the absence of London buying and
the continued talk about the frmness of
sterling exchange and the possibility of
gold exports. 'Some disappointment was
shown in the early trading at the absence
of further buying from London" said a
special to Sproul & Co., "and the continued
firmness of exchange rates may also be
reckoned among the features which in
| duced hesitation. In this connection
even the easier tendencies of
the money market produces an
unfavorable impression, as it only
increases the ability of Europe to take gold
| from this side it exchange should work to q
slightly higher level The Granger and
Gould stocks while not active were some
what unsteady and manifested a strong dis
position to give way on the growing impres.
sion that rates are in q bad way and that the
Gould interest is bent upon disturbing mat
ters in the Southwest. In the afternoon the
dullness and absence of interest resulted in
further selling for both accounts with more
or less influence upon prices. Rubber Is
still something of feature, the buying TO,
day coming from commission houses and
being sufficient in volume to absorb specu-
lative offerings"
On the Local Board.
Trading was moderately active on change
to-day, and in some respects the market was
frmer. P. & b. traction led in strength,
followed by Union Switch and Signal and
Luster Mining Company. Citizens trac-
tion was the weakest spot, and Duquesne
traction was Off slight fraction, but all
the others were unchanged from last weeks
n
P. & B. traction opened at 24L sales. sold
up to s43s, moved up to 24ss bid and closed at
GSdh@s. regular and ~ bid bgyer,sG; ny 60
Company cESrs sold ' at slI. closing at
2lss@2lA. with moro wanted than offered.
Luster sold at sAQsasc, closing sa. 8 at ssa@s.s;
more offered ut the same price. Union
Switch and Signal sold at 1917. closing at 1871
@l955s, and Wheeling Gas SOLD at Is, closing
at 17sI@ls15.
One of the features of the first call was a
sale of 700 shares of La Noria Mining Com
pany at l3c per share, and q feature of the
last was sale of Fidelity Title and Trust
Company at l2lL.
During the closing board Kuhn Bros. had
30 shares of Airbrake to sell, and the stock
was offered down to 1881 without finding
purchaser, the closing bid being $50.
Citizens traction 5s were quoted at 1854
bid and Pittsburg traction 5s at 1o41. bid.
The unlisted street railway securities
closed as follows: P. & B. traction, Ah@Ass;
do 5s, 99H@1O0; Duquesne traction, 271a@2754:
p, A. & NJ. traction, 4314@44; do 5s, l02a4 bid.
After tine close Wheeling gas was offered
&C IS and Pleasant Valley railway at %; 2lA
was bid for Philadelphia Company and 91a
tor Luster.
Citizens Traction.
The annual meeting Of the Citizens Trac-
tion Company was held at 7:30 this evening
and was largely attended. The reports
read showed that the passengers carried
by the cable road for the year numbered
12,5O5, lSo; by the electric cars, 1,l54-765,
and by ~ the horse cars As.64s;
pas senger traffic, s672. .2c4; gross receipts
from all sources $3.50 ,299: operating expenses,
including interest, taxes and damages, $780,
0ooi net earnings, 1921 59l. The percentage
OF operating expenses to gross receipts,
however not including interest, taxes and
damages, was 5l.59 The net earnings, there
fore. must have been somewhat larger than
they appear to have been.
The question OF leasing the property and
franchises of the Penn street railway and
guaranteeing the principal and interest on
$3.50. COO bonds issued by that company was
settled by q unanimous vote in the aff1rma-
tive.
A resolution was passed instructing the
send it to kholders.
The gross receipts of the company for oc-
tober were $63, ,720.
Pittsburg Traction.
The annual meeting of the stockholders of
the Pittsburg Traction Company was held
this morning, seven people, representing
$40 600 shares, mainly by proxy. being in at
tendance. The proposition to change the
date of holding the annual meeting to the
fourth Monday in January was adopted, ana
detailed statement of operations will be
made at that meeting. A synopsis was read
which, 1t is stated, "showed a little less than
5000. COO passengers carried and about $4OO, COO
% ,n l.,.
stood. do not embrace any of the operations
of the Duquesne traction.
Bankers and Bank Clerks.
At the annual meeting of the Bankers and
Bank Clerks Association tonight the fol-
lowing officers and directors were elected
for the ensuing year: President Robert
Wardrop: Vice President, Otto C. Bergdorf;
Treasurer, Edward E. Duff; Recording Sec
retary, A. NJ. Thorne; Corresponding Secre-
tary, Henry r. Scully; Directors, F. Z.
Moore George J. German, Alex. II. Patter-
son, William T. Howe, James Milton Young,
Benson S. Crumpton; Trustees, John Is.
Jackson, ID. Leet Wilson,
The report of the condition of the associ-
alton showed membership of 467 and
assets of f$26.44s
Second Avenue Electric.
At the annual meeting of the stockholders
of the Second Avenue Passenger Railway
Company held this afternoon the following
directors were elected for the ensuing year:
James D. Gallery, William j. Burns, John c.
Reilly, William V. Gallery and George c.
Wilson. Notwithstanding the fact. that
about this time last year the car barn of tho
company and the entire car equipment of
the road were destroyed by fire, the busi-
ness of the company Ior the past year was
unusually large, showing q material i'll
crease over that of any previous year since
its organization. The earnings of the year
approxlmated Sl25, 900, and it is said the
monthly earnings are showing steady in
crease. The new johnson rail will soon be
laid the entire length of the road.
After the meeting adjourned the new
board met and organized by re-electing
James d. Gallery, President; John c. Reilly
Vice President, and William j. Burns, Gen.
eral Manager.
Westinghouse Electric.
By the terms of an arrangements in court |
between counsel for the Westinghouse and
Edison Companies, the Sawyer-Man Com |
pany will continue to manufacture and sell |
lamps until the case is finally |
decided by the Court of Appeals. It seems |
that the proceedings begnn in the United |
States Circuit Court Of New York, before |
Judge Lacombe, Friday last, were brought |
to this conclusion by a suggestion of the |
Judge that such temporary action should be |
taken by consent Of counsel on both sides as /
would postpone the argument, so that the |
case might come before the full Court of |
Appeals. For the purpose or enabling |
Judge Lacombe who is familiar with tire |
subject, to sit with the other judges in the |