Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-24
PHILLIE GOES DOWN
A Fraction or So and Airbrake Gains
Nearly Two Full Points.
NO OTHER NOTEWORTHY CHANGES.
P. & B. Continues Firm and Cable and
Glass show Less Strength.
STREET GOSSIP, PRICES
FRIDAY. Dec. %.

FRIDAY, Dec. %.
There was little furry in Philadelphia
Company at the last board to-day, during
which it sold down to 1897. closing at 1881
@19X, and at the same board 5O-share lot
OF Westinghouse Airbrake sold at 132, the
stock closing at 1S2@135, but beyond these
movements the market for the day amounted
to little or nothing. Early in the day one
share of Pleasant Valley rail way sold at %.
however; block of La Noria Mining Com
pany was disposed of at 15c per share, and
little later a Pittsburg traction
bond changed hands at 1854,
which, with 27O shares of Philadelphia
Company and the so shares of
Airbrake at the final call, comprised the
public transactions of the day. The up
ward jump in Airbrake and the slight soft
ening in Philadelphia Company were the
only noteworthy changes Pittsburg and
birmingham fraction was firm and in de-
mand from Che usual quarters: Duquesne
traction was steady at Thursdays decline,
and the others of the street railway group
were unchanged. Aside from Airbrake the
industrials failed to present a very firm
front, neither Switch and Signal, Under
ground Cable nor United States Glass an
pearing TO show quite as strongly as on the
previous days of the week. Mining ard
OCnof Sldr6S were IcaLur6loSS.
Outside the Exchange business was not
altogether dormant more or less trading
occurring in Airbrake, Philadelphia Com
pany, Citizens traction and P. & B. traction,
with an intimation that street railway
bonds were not entirely neglected. In this
latter connection it was learned that a
prominent Fourth avenue fiduciary institu-
tion was bid l0515 for big block OF Central
traction 5s to-day, but refused to entertain
it
There were further complaints of gas
tsnln 7oN
terday, were doubtless responsible for the
closing weakness OF Philadelphia Company;
but it is due to the company to say that some
of those who howled no gas loudest yeSter-
day stated to-day that their supply had sud-
denly assumed very satisfactory proportions.
Friends of the company who claim to have
witnessed the results of various tests and in
vestigations say there is an abundance of
| gas, and that the fact will be salts actorily
demonstrated before the winter Is over.
current @ t Was TO- to the S effect that that a dispatch
| from Chicago had been received in the city
4 stating that the Westinghouse Electric and
| Manufacturing Company had turned some
of it's contracts, including the Worlds Fair
| lighting, over to the General Electric Com
| pany, by which it had been absorbed. MIR.
| Westinghouse and Mr. Bannister were both
| in the East, so that the story could be
| neither subsIantiated nor denied here Off
| cially, but after the close it was stated that
| Mr.. Westin2 2house had wired that the story
was utterly without foundation.
| Citizens traction 5s were quoted at 107,
and Point Bridge second mortgage IS at 100
| bid.
| as follows: P. &. B. traction, 25G251l: do IS,
| 100 asked; Duquesne traction, 27s6Q271S: do
5s, 1929 asked: Central traction 5s, lO515 bid.
Financial Notes.
Westinghouse Electric scrip was quoted
| on Change at 92@93
Electric second preferred was higher in
| Boston at 3Sss@3+
| J.J. Campbell was the seller of Phillie
and Messrs. Carothers, Hill & Co., Stoney
and j. b. Barbour were the buyers.
Carothers sold Airbrake to S. S. Pinkerton.
Frank Eaton sold La Noria to Kuhn
Bros. and w. R. Thompson & Co. sold Pitts
burg traction os to- to >. e; S BaTno9r: 1r.3, u
| Company. of Allegheny and Westmoreand
| counties; capital, 5000. The Minerva Land
and Improvement Company, of California,
Washington county: capital, $4,000. The
| Pittsburg Gauge Company; capital, $50. .00O
| the directors are W. L. ndgers, e, B. Alsop,
| r. h Bnns ]. R. McCreery. The Cramer
Indiana county; capital, 100000 The Stand
| ard Coal Company, OF PittsDurg; capital,
| $500 600; the incorporators are Thomas H
| Chapman, James Lippincott, Thomas Corde
| j. l.. Kirkpatrick, j. ID. Lippincott.
| One OF the leading drawers of sterling ex-
change has advanced the rate for 6O-day
bills X to 81 $50, making them 81 s61S@4 Ss1<
| The market is practically bare Oh D.IIs but
| nevertheless in the Judgment of prominent
shippers no gold will be forwarded to Eur
| ope Saturday. Some of them also say that
they have no orders for gold for Tuesdays
| vessels 1t is expected that some will go
| forward on Wednesday.
j. S. Bache & Co. to Oakley & Co.: The
| only stock in which the trading amounted
| to anything was Reading, which was sold on
| the belief that a new bond issue was going
| to be made shortly so as to provide enough
| money to nay the interest on the income
| bonds Thl Insiders say that so much money
has been expended on the road during the
feal G,nA
ing the bonded debt of the road. This sort
| of fnancering is anything but favorably
spoken of in Wall street and some long
| stock was sold by disgusted holders.
From Sproul & Co.'S market letter: Money
ruled at AMI was offered down to at the
| close Exchange is steady but dull and
bankers are less inclined to look for gold
The Chicago Board of Trade will be
closed on Saturday and remain closed until
| next Tuesday.
| A German banker is quoted as saying that
$500 OGO, 900 of American securities are held
| in Germany, and if the Sherman law is re-
/ pealed, the Germans will retain their hold
| ings and in six months send over $500 0OO, 000
| fresh money for Investments. This Iur-
nishes 1,3OO. 900. 900 reasons for repeating the
| Sherman law
| ment for November shows gross earnings
S. I5O, ,OO0 an increase of $4,000 compared
with the corresponding: :o month 1oG Of last year;
$4,000, and net earnings, $55O,OOO, decrease
OF S6O, ZOO.
Sales and Closing Quotations.
The transactions recorded on the Ex-
| change sales board to-day were as follows:
FIRST CALL.
II shares Pleasant Valley Railway ........... 25
200 shares La Noria Mining Company 1900. l5c
| SECOND CALL.
a. 600 Pttsburg traction 5s ......... 105Is
| THIRD CALL.
go shares Philadelphia Company. Isg