Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-17
FRACTION DECLINES
Established in a Number of the
Items of the Local List.
CITIZENS TRACTION Is HIGHER
And Few Other Leading Shares Show
Continued Strength.
LEGAL AND GENERAL FINANCIAL NEWS


FRIDAY, Sept 16
There were more weak than strong points
in the local stock market to-day, but the
changes in most instances were lacking in
significance and the market as q whole
showed no positive or decided tendency.
No pressure of consequence was brought to
bear against the leaders of the list, but
there was very little support offered and
many prices naturally responded to the
feeling of uneasiness and uncertainty prev
alent whenever attempts were made to exc
cute selling orders. The market at present
is Influenced by the shadow Of the
cholera scare and its course
in the future will be regulated
The stocks that continue to advance, how
ever. are evidently proof against shadows
and fears. Nothing can shake them except
ing the substance of calamity.
Course of the List.
Trading was light at the calls and busi-
ness off Change was also restricted Boston
and New York doing nothing in their favor
ties. Weakness was the rule, although the
market was not without some strong spots,
traction, Electric unassented and Airbrake.
Citizens traction sold early at g. was
in fair demand all day and closed firm at
631s@63. Electric unassented was quoted at
22Q23 and Airbrake was firmly held around
l40. Exchange stock sold at 800, Whitney &
Stephenson being the purchasers usual.
The weakest stock traded in was Luster Min
ing, which declined to So on call s3s after call
and a "curb" close at S14GS5s The weakness
was ascribed to reports of the contemplated
increase in the company's capital stock.
Peoples Pipeage was about steady notwith-
standing the talk of a decreased dividend
this quarter. 1t sold at l56 and consider
able was wanted at Is. Union Switch and
Signal was off to Is sales and close at l7H@
ls16, and Pleasant Valley was steady at 251s
sales and bid.
Philadelphia Company weakened some
what and so did Duquesne traction and L.
B. traction, but their slight declines at
Castle Shannon Railroad advanced to 71s@
Is; Electric second preferred closed lower
at 81 asked and others were unchanged.
Westinghouse Electric.
The Westinghouse Electric Company, says
the Boston Ne,os Batredu, has just finished
a 700-horse power motor for the Brooklyn
Railway Company. The cost was about
s4,2OO, and the price received $1,000 This
net profit was possible because of the me-
chanical knowledge of Mr.. Westinghouse.
II a second experiment had been necessary
it is calculated that its cost would have
been 50, 600, and on third nearly the amount
received.
for the Worlds Fair has been nearly COM
pleted, and 1t is claimed that q not profit of
$l04, 900 is shown. 1t is estimated that the
entire contract will show net profit of
$500. 900.
p, c., c. & St. LIS August Business.
The statement of the business of the Pitts
burg, Cincinnati, Chicago and st. Louis Rail
iral lpHi fho fln Mio,,,
Railroad, for August 1892, as compared with
the same month in 1891, shows:
Increase in gross earnings sl04 S2s IS
Inc: ease In expenses. 3i64l II
Increase in net earnings. 73 1S5 %
The eight months of 1892. rs compared with
the same period of 1891, show:
Increase in gross earnings. 561 60
increase Ill expenses. ...---...- s5', Us 80
Increase in net earnings. s............s4 46, 432 70
New Passenger Railways.
HARRISBURG, PA. Sept. 16.-The following
charters were issued to-day. Phillipsburs
and Houtzdale Passenger Railway Company
Of oseeola Mills; the line to run between
tai stock. 100000. Clearf1eld and Curwinsville
Passenger Railway Company, of Clearneld;
40 run between the above towns miles,
capital, 100000 Hazleton and North Side
Electric halfway; capital, SIS 900: to run
from Hazleton through Harleigh, Ehervale,
Oakdale, Japan, Drfton and Freelans.
Hazleton and South Side Electric Railroad:
capital, $4,000: the route to cover Spring
Mountain (schuylkill county,, Audenreid,
Jeansv1lle, Hazleton, Stockton and Beaver
Brook.
Financial Notes.
A. J. Lawrence & Co. sold "a shares Citi-
zens' traction at 81 and % shares Westing-
house Airhrake at 14O.
Hill & Co. sold Luster to Carothers and
Kuhn Bros.
Duquesne traction closed at 29@295, P. &
B. traction at 255s92534 and P, A. tS NJ. trac-
tion at 4S1a@A.
Sproul & Co., Pleasant Valley to Hill & Co.
and Citizens traction to Whitney Steph-
enson.
There is talk of consolidating the Ohio and
Mississippi with the Baltimore and Ohio
Railroad.
Peoples Pipeage changed hands from J.
B. Barbour, Jr., TO c. L. McCutcheon, and |
the latter and j. d. Bailey were the bidders |
Tor more at 10. |
The Boston Transcript says there is dis |
tinctly easier tone in the Boston money |
market
The Bank of England has not in II years |
been in SO strong position as 1t is to-day, |
when its reserve is over so per cent. The re- |
serve has been growing steadily from week /
to week, and it has become more and more |
difficult to sustain outside rates.
Western Union rumors touching the new |
Issue of stock have already started. One of |
THESE Is tnaC q resolution Will De intro |
duced atsthe annual meeting, October H. to |
distribute ST. 000, 900 stock free. A director of |
the company says it will take from four to |
six weeks to prepare the new stock and |
decide upon che terms of issue.
1t is said to be an official statement that |
the Sugar Trust is earning over $3.50, 900 net |
per dav. That would be ut the rate of about |
"a, 900 900 per year. a sum calculated to ex- !
cite the interest of both the shareholders |
and consumers.
Sales and Final Quotations.
Transactions on Change were as follows: |
FIRST CALL.
/ Exchange membership Is shares) .. 500
100 shares Citizens Traction. ............... 62
SECOND GALA.
100 shares Pleasant Vaiey............, 25x |
25 shares Peoples Pipeage................... ISL |
BETWEEN CALLS.
SC shares Union Switch and Signal........ 1s
THIRD CALL.
100 shares Luster Mining Company......... sx
AFTER CALL.
shares Luster Mining Company. sa
10 shares Luster Mining Company. ........... 8x |
Total sales, 1876 shares. Closing bids and
offers:
1st call. Sd cau Sd eau
S'o'AS' BID Ask Bid ASK Bid ASK
-I--l-1--I- - - -
F. n. Bank, Pitts. -. 1871 .... go. .... - |
Third Nat. Bk.-.. 123 80 Us .... ....I 90. |
Peo piles Ins. go. .... 80. 80. % 80, |
W estern Ins Co... 90. 40 zee. 40 go. 40