Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-25
SPECIAL MARKET LETTERS.
The Shadow of the Holiday Season Re-
fected in the Efforts of the Oracles,
but They Are Full of Good Things for
All That


but They Are Full of Good Things for
All That
A. j. Lawrence & Co. s letter:
No one cares to review the stock situa-
tion on the eve of the holidays, and until
they are over no one will devote much
thought to the future of the market. The
past week was barren of striking features.
The boom in Duquesne traction fattened
very completely and the price, q and 271Ez,
is back where it was when the heavy buy
ing began ABOUT fortnight ago. Without
protesting special knowledge relating to the
play, it looks to US as though the check
given the movement was due to one of two
tbIngs-either the pool found it was getting
the stock too freely and has Withdrawn for
the present, or the followers who bought
for quick turn are selling out and taking
their profits or loss rs the case may be. We
regard DuQuesne rs Il better purchase for a
long turn than BirIning ham, even IL the lat
ter does begin dividends next month, be-
cause, hiIe its capital and bonds are the
same, its mileage is double that of the South
Stdo road: it traverses a territory that is re-
ceiving tine lions share of municipal ex-
penditure for improvements, hence will have
a much greater growth, and finally its float
ing debt is understood TO be smaller.
The course OF the rhiladeiphia Company.
like the mercury, has been downward, and
some persons are disposed to associate the
one with the other. At all events the cold
weather has demonstrated that the supply
OF gas is not equal to the demand. Whether
it is equal to or in excess of that of last year
will appear from the statement of earnings
which We believe wifi be sent out with the
dividend checks next Saturday. The un-
certainty on the point referred to will nj
ways constitute the speculative clement in
this stuck. -
The three stocks mentioned, together with
Air Brake, which advanced to 49, furnished
about all the business going. With the ex-
change closed on Monday, and with every
one interested in the 4aities of the season,
we do not look for any trading of conse-
quence the coming week.
We wish you merry Christmas and a
happy New Year.
Henry NJ. Long writes as follows:
The past week has been dull, and prices,
while fairly sustained. tended slightly
downward. OF the fractions, Duquesne and
Birmingham held up pretty well consider
ing the recent furry, and Manchester and
Pleasant Valley are still nursed, awaiting
the Iong-talkeu-of consolidation, which, 1
am glad to he able to say, is about consum-
mated. This will tend to strengthen both |
stocks, as very great saving will be made
in the running expenses, estimated us high
as 500 000 per annum. Citizens traction is
strong, with an upward tendency, and Cen
Jral gives good premise of activity.
Philadelphia Company has been disap-
DOlntlu :: after re2 CHING ~ lt dropped to
ly5S0lg2z, where it stands. The cuId snap
has ilau much to do with this, although the
company has demonstrated the fact. that
plenty OF gas is still available ;orall wants.
1t IS cheap aEu pays oyer 10 per cent on the
investment Industrial stocks are slump
ish, Electric CHIEFLY so, owink to the rumors
of u 'sell out" to the Edison people and also
owing TO the delay in perfectin1 and placing
on the market the alleged "new lamp" |
which is to supersede all others. Union
Switch and Signal Company is neglected
and lower; The same can be said or United |
States Glass, while Underground Cablc |
sprung into new life on the talk OF an extra |
dividend. Air Brake is a Iavorite and lor |
the first lime has gone up in price on the |
OF the dividend. Bank !
stocks are all strong and in demand, while |
some little movement is noticeable in insur- |
ance companies as the season Tor the semi |
annual dividends approaches.
On the whole, with gold shipments as the |
current scare, the threatened upheaval on |
the Paris Bourse and tnreatenings of tighter |
money, the local stock market appears un-
usually steady and sale. With "a clearer fin |
anclal atmosphere, and tho holidays over, |
more activity and better prices on dividend |
payers are confidently looked for. The |
cGcap stocks o: this class will then look |
cheap inueed at present prices.