Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-12
MORE LIFE ON CHANGE
Local Securities Comparatively Act
i've and Somewhat Stronger.
A NUMBER OF GAINS SCORED.
Slight Weakness Shown in Few of the
Leading Shares.
LOCAL AND GENERAL FINANCIAL NEWS

TUESDAY, Oct. IL
The action of the market for local securi
ties to-day was more satisfactory than yes.
terday, but it was still somewhat slow and
barren of big features. The steady te
strong undertone which has been apparent
through the dull periods was more marked,
however, and some of the leading shares
showed up fractionally under modest de.
mand, which advances were accepted as
meaning that an upward turn of some con-
sequence would follow anything really
stimulating, or that prices would readily
respond to good general demand.
| The strongest stocks we're United States
Glass, with an advance to 661s bid; Under
| ground Cable, with an advance to 65L bid
ex-dividend; Allegheny Heating Company,
which moved up to IS bid; Peoples Natural
Gas and Pipsase which gained a;l., pant naif
which advanced in the bidding to l2s, and
Pleasant Valley Railway, winch closed
little higher at 25h@25ss. The only items
Philadelphia Company. p. B. traction,
Wheeling Gas and Duquesne traction, but
| their weakness was slight and without
significance. All others were steady to
| strong. In regard to Peoples Natural Gas
| 1T is due the company and its friends to say
that THE DISPATCH has been in error re-
garding its dividend. The company iS1s sus-
| and resumed them in July, 1891, since which
latter date 1t has paid regular quarterly
dividends at the rate OF 8 per cent per
annum. Prior to the suspension it was pay
ing monthly dividends at the rate of IL per
cent per annum. The advance in the stock,
therefore, has probably been based on the
company's improved field resources and
O6ttere0 financial condition ana not TO lnV
talk about dividends.
The movement at the calls was in Peoples
Pireage. Phiiadelphia Company, PittsDurg
traction, P. & B. traction, westinghouse
Electric scrip, Union Switch and Signal and
Wheeling Gas. Pipeage sold at l53sGl51a,
closing at l5as@l51a: PhiladeIphia Company
sold ut 2sH, closing at 221s@22A; Pittsburg
traction sud at 50, which was the closing
quotation: p & B. traction sold at 2514 at the
third call, when the result OF the annual
meeting was being discussed, with the close
at offers to trade either way ut the same
price: Electric scrip sold at SO per cent,
closing at 9s13@93; an odd lot of Union
the only quotation ut the last board; and
Wheeling Gas sold at 1873, closing at l9aaa
@!9%
Quotations on the unlisted items that did
not figure in the trading were as follows:
Duquesne traction, 2S1s bid: do. is, 1880
10l15; p, A. & NJ. traction, 445s bid; do. 81,
l03 asked; T. & b. traction s.. 1851 asked;
Pleasant Valley Railway 5s, lO2 bid.
2. b. Traction.
The annual meeting of the stockholders
of the above company was held to-day. and,
contrary to some expectations, was entirely
harmonious. The statement of the years
operations showed: Passengers carried,
6l69.OOO at cents each, sSCs, ,45o; gross earn
ings in round numbers, $356, 900; operating
expenses, $lJS. .0c0; net earnings, $l5S, 00o; in
terest charges, $IC0, lis Is; surplus earnings.
$57Ssl c5. The difference between the actual
amount received for fares and the gross
earnings is the earnings of the Pittsburg
and Mt. Oliver incline planes, which are
controlled and operated by the company,
on the company's bonds (s75,ooO) and
the interest charge of $l0Olls 75
probably represents the interest and
the two incline plane companies. The CAPT
tai stock of the Pittsburg Inclino Company
is $lO0 900, on which ten per cent (sl0,0OO) is
$3.50 ooo-sI5o 600 first Is and sloo. 900 second ss
or SIS 900, making q total of $4,000, which,
with the in terest Oh the p. s BIS 1905, retired
early this year, about makes up the differ
ence between the interest on the company's
present bonded Indebtedness and the inter-
est charge of $780, lis Is. But, it is said, the
incline is about 500 Ii this is so. its dispo-
sition in the statement is difficult of deter
mination; It may be, however, that
it is included in the operating, expenses
figures show that the incline compa-
nies are earning handsomely. Indeed, it is
semioticially stated that the net earnings
of the Pittsburg incline for the last fiscal
year were between so, QUO and So, 900.
For the first nine months of the past
year, according to the statement read, the
gross earnings and for the last three months |
they were a per cent, which is strong tes- |
timonial in lavor of the Westinghouse motor |
that was introduced on the road just prior |
ont ,f fliN 1n OF
The surplus earnings of the company for |
the quarter ending September 30, after all |
expenses, including interest charges, ETC., |
$22, ,S53 u, at the rate of $9l,2l5 0S little
more than s per cent on the company's |
Gil pltal of So G00.OO0
The old Board OF Directors were reelected |
Mckee, D. 2. Brickel. NJ. A. Werner, r. Ii.
Given, Thomas NJ. Mckee, Thomas II. Bake
well, Z. E. Denniston.
Financial Notes.
The directors of the Allegheny Heating |
Com pany to-day declared the regular quar-.
;erly divided of per cent and an extra di-
7idenu of per cent, payable to stockhold-
,rs of record October 20. Transfer books
will close on the 18th and reopen ON the 2lst
It was stated on the street this afternoon
hat the Directors of the Peoples Natural
Jas and Pipeage Company had declared the
'egular 9 per cent and that stockholders
would probably get an extra with their
checks for the regular.
John Il. Patterson sold so shares Allegheny
Bank at 81.
No. is, of K. j. Stoney, Jr.'s, "Pittsburg
Bank Returns including the re-
,orts of tile Allegheny. Braddock and Nc
ieesport National banks and the Pittsburg |
state banks and trust companies, is ut hand.
Chartered to-day: The Rosens Furnace
Company, of Pittsburg: capital stock, s., ,OOO,-
100: incorporators, Henry W. Oliver David |
3. oliver, James B. Oliver, Charles d. Fraser
md John C, oliver. The Bolton Iron and |
steel Company, of Pittsburg, has filed
steel Company.
A special to THE DISPATCH from New York
tates that the Westinghouse people have
ued the General Electric Company for in
ringing on the oxldizing patent in filament |
The following railway earnings are re-
ported for the first week OF October: st, |
Paul, $756, 55l increase, 81, ,S44 Milwaukee Il
Northern. $A 6SS; decrease, $l.2S2; Northern
Pacific, s6s6,646: increase, So, ,49l: Wisconsin
Central, $l23. .74O; increase, $6, $40; Iowa Gen. I
raj, $46 552; increase, $6,6S7
Morris & Brown sold T. & B. traction to
w. K. Thompson & Co., ana Hill & Co.
Lawrence & Co., and Morris & Brown sold |
Company and Hill & Co., and
I, L. Barbour bought.
S. S. Pinkerton sold Pipeage to Nc
;utcheon, and Morris & Brown sold to
,aSter.
Kuhn Bros. sold Pittsburg traction to
Barbour.
Sproul & Co. bought Wheeling Gas from
;aster ana the latter sold Switch and Signal
O Barbour.
Edison Illuminating declined sharply on