Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-30

the group. Electric showing up prominently
in this respect, but there were no move
ments worthy of special or extended COM
ment.
In the mining list Luster about held its
own, but confidence in tile others, especially
Enterprise and Red Cloud. was shaken some
what by the news and gossip anent them
presented in these columns.
Opinions of Broker.
A. j. Lawrence & Co. write TO the clientele
Of their house as follows:
sour market was all askew the past week
and furnished q number of surprises. Tho
most prominent of these was the decline of
about IS a share in Westinghouse Airbrake
on very small sales. Ten days ago it was
selling at l36, and yesterday it was offered
ut 1857, and was nominally la6 bid. We
trust that none of our friends who bought
for an investment were scared into selling
on the break. Intrinsically the stock is
worth as much to-day as it was two weeks
or a month ago. 1t will pay its regular divi-
dends in the future Just rs promptly. AS
to those who bought lor @ turn all We can
say is that thcy have had ample opportu-
mites to take handsome profits, and ii they
have not done so they have nobody to blame
hut themselves Tho break was caused by
n misapprehersion of action taken by the
New York Central Railroad relating to the
treatment Of cars equipped with apparatus
other than the Westinghouse. Heretofore
such cars were not mixed in trains having
the Westinghouse brake. Under the action
referred to- trains on that road will be made
up and forwarded irrespective OF the char
acter of their brake apparatus. That's the
whole story in O nutshell. although report
was first circulated-evidently for stock
jobbing purposes-that the Ce rral had dis
carded the Westinghouse brake for that
made by the New York company. The incl
dent may forco out some margined stock,
but we do not apprehend any further seri-
GUS decline.
Westinghouse Electric second preferred
advanced from 81 to 80 and Union Switch
and Signal also gained a dollar a share. sell
ing close to 20. There have been rumors re-
lating to both stocks to account for the
rally, but we have been unable to learn any
thing of q reliable nature that We care 10 re-
peat. TIE Electric market is made IN the
East and traders there may or may not be
well informed of official movements in this
somewhat complicated situation. The
strated the rule that when 1t looks its
weakest it is a purchase for quick turn of
81, and when it is strongest IL Is sale. We
have previously expressed our views on
Switch and Signal and see no reason to
change them. Philadelphia Company has
recovered about hall its recent decline ard
is really as firm at 2l7a and 2lA as anything
on the list.
The fractions have been source OF sur
prise and disappointment. Central has been
the only firm one o the lot, and il has mere
ly held its own, instead of advancing, as Its
condition warrants. All the others have
ruled weak and DuQuesne, birmingham and
Manchester are lower. We have not enough
confidence in our opinion to express any
views as to the immediate future, but We
would like to make this suggestion: That
stockholders in Citizens and Pittsburg
make a special effort to be present at the
annual meetings of these two companies.
which will be held the coming month. They
are both representative street railways:
they are pioneers in the rapid transit busi-
ness in this end of the State; they are ably
and conservatively managed. and their
financial showing should give the cue to the
value of the other lines. The meetings will
occur after the election excitement is past,
and they will likely have an important
effect upon the future OF their class OF Sc
curilies."