Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-24

/ Inc aggregate amount pa1O IN Qlv1Q6nd
| by SO OF these institutions during the pas
| year was 81, ,09S, ,632, an amount equal to 6.
| per cent on the combined capitals. Durins
| the same period the banks increased thei
| surplus and profits 1896, l4s. or 626 per cent
| thus showing the total earnings ior the yea
to have been s. 094, $50, or H. l6 per cent, tn,
total earnings of the ~ national banks hav
| ing been 81, ,Sss 4l0, and that of the 23 Stat,
| banks and others $500, $40.
Financial Notes.
| The Westinghouse Electric COMPANY
have contracted through their Boston office
with the Wakefield & Stoneham Street Rail
way Company, of Wakefield, Mass, for foul
| car equipments, consisting of two 2O-horse
power Westinghouse single reduction mo
tors for each car. The road will be in oper
alton August L They have also just
closed another contract in Brooklyn with
the Brooklyn and New Town Railway. Ii
calls for four 300-horse power generators
and the equipment of 50 cars with motors.
| Tho engine and generators will be the same
| as those built Tor the Central Traction Com.
| pany, of this city, which was the first to
| adopt this improvement.
Holidays will be observed in the Liver
| pool market from Friday evening, July 49,
until Wednesday morning. August g.
From Sproul & Co.'S market letter: Rail-
road men talk encouragingly regarding
business and earnings, and the Secretary OF
the Treasury comes out squarely to the cf-
feet that the Government will not restrict
its payments OF gold. The latter fact NAV
have some beneficial influence abroad
where something is certainly needed to
stimulate interest and confidence in Amer
ican securities"
Sales of Luster were reported on the
street to-day at l115.
An application has been filed with the
Comptroller of Currency for authority to
organize the Wilmerding National Bank,
Wilmerding, Pa, by John 4. Miller of vii.
merdiGg, and his associates.
Sharpsburg Council last night passed or.
dinances granting rights of way through
that town to The Millvale, Etna and Sharps-
burg Street Railway Company. The latter
is practically the Pittsburg, Allegheny and
Manchester Traction Company, which will
extend its lines to the boroughs named.
At the annual meeting of the Union EIec-
trio Conduit Company, held yesterday. the
following officers and directors were elected:
President, George /. Whitney; Secretary, E.
r. Hamilton; Treasurer. Henry Metzger;
Directors. George i. Whitney, D. Leet vii.
SON, Henry Metzger, John G. Stoakes. E. E.
Hamilton. A dividend OF per cent was de-
clared payable forthwith.
Three tanks of oil, one at Rexford Pa.
and two at Allegany, n. Y, having a total
capacity of 10000 barrels were DESTROYED
by fire yesterday, and the Secretary of the
Exchange has received notice of All assess
tlhcate to pay the loss.
John D. Bailey sold IS shares Exchange
National Bank of Change to-day at S.
The recent decline in Pennsylyania Rail.
road stock is now said to be in consequences
of sales by English stockholders who do not
understand the varied nature of the com.
pany's traffc. The annihilation of the
whole Carnegie plant ana the entire loss of
the tonnage now derived from 1t would NOT
aHect the pennsylvania materially and cer-
talnIy not enough to cause any difference in
the dividends received by shareholders
the improved prices for coal and increased
freight rates that will accrue TO the com
pany through the anthracite deal resworth
much more than the Carnegie property, i'm
portant as it lie.
The report is revived that Vice President
A. D. Cassatt will succeed President George
b. Roberts, of the Pennsylvania Railroad,
upon the latter's return from Europe IL
would seem quite as reasonable to suppose
that Mr. Roberts would have resigned be-
lore rather than after the trim to Europe
All the street railways in New Orleans are
to be consolidated under one management
which Will ope rate them by electric power. )
The deal involves Sl0,000, OOO Philadelphia
and New York people are in it,
watson Gibson to Oakley & Co: "The |
condition and prospects summed up: The |
volume of transactions indicate an improve |
ment. Crop prospects decidedly better. |
Gold exports checked. Treasury gold bal |
lance increased. Congress done little harm.
Labor situation worse in respect to number |
OF men on strike. but tnis indicates an |
earlier termination of the trouble. The |
bank statement day shows nearly S. O0O- |
200 in the reserve and an increase of over 81. /