Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-06-05

was succeeded by dropping temper in sym
pathy with the movement among the lead
ers. The close was 'ntrly active ana weak
at about the lowest prices of the day.
The total sales of stocks ,o-day were ll6,-
S6 shares, including: Atchison, 1850; Chi.
caro Gas, 1850; Erie, 1870; Louisville and
Nashville. 1,9.s: Northern Pacific preferred.
6s24: New England, SI55: Reading, 1850;
st. Paul, 7,2l5; Western Union, Its.
Railroad bonds were unusually quiet, the
total transa ctions being only s6l3,O0O while
closely followed, with the result of making
some material losses for the day. The mest
promising issue was the Kansas and Texas
seconds. which were sold down on the prob
pom. The other changes, however,, were
generally insignificant, and the number OF
Donds traded IN was unusually small
AWestern Union Competitor.
John NJ. Oakley & Co. received the follow
ing: "Much has been said much is being
said, about the Western Union Telegraph
Company, its earnings andits constantly de-
veloping of the telegraph business. This IS
all true, and it is to be admitted that the
coming 70 months will no doubt see very
large increase In the revenues OF this conf
pany, resulting from the Presidential nom-
inations and all of its following business.
and, according to the views of Mr. : V.
Wh1fe, who is very sagacious and QUICK
onerator in tie stock market, this company
will next Wednesday declares q IA dividend
on the stock, and while the dividend is not
payable until July 10 or thereabouts
in bank and 0000 more. Mr.. White re-
CARDS 1t as sure that the rate f dividend
will be raised to per cent in september
next, or stock dividend declared, increas-
ing the capital to a round hundred millions.
GAS we have said, this is and may be all
true, but in the meantime there is corpora
tion which has quietly but surely, and 1t
may be slowly, made progress in extending
and building lines much superior in con-
struction and in service to the Western
Union. This company is the LonE Distance
to Cleveland, and before long will be at
Chicago. They have most perfect lines TO
Boston, Philadelphia and Washington. and
are steadily reaching out to all the leading
cities. 1t may be well to consider to what
extent this formidable competitor will affect
the Western Union Company.
If we have continuation OF the warm
weather for another week or ten days there
will be air assurance of the successful
planting of the crops and very Important
base for future operations VIII nave Dern
laid. The crop weather is being care ully
watched by the grain and stock traders:
Speaking of grain, the Chicago Board OF
Trade has wisely decided to permit the dis
tribution of its quotations bv the telegraph
will soon put these quotations on their
board, affording to traders in wheat, corn,
oats and provisions to get instantaneous Iie;ous
prices of these, where before the ticker
service in this line was exceedingly limited.
"The market to-day has been similar 90
many that we have had in the past in its
general inclination to sag. The genera! SEN
timent continues very bearish. 1t Is diff
cult now to find a pronounced bull in the I'M
mediate vicinity of the stock exchanges.
When this condition of things prevails it Is
about time to look out for a turn in the op-
posite direction even if it be but short
lived one. Monday being leGal holiday in
London there will be no market on that side
to influence prices. The bank statement
showed decrease in the reserve Of $685., ,075
and an increase in loans OF So SSS, 100.
The Finish in Stocks.
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by W HIT
NEY STEPHENSON, oldest Pttsburg members Of
the New FORK stock Exchange, 81 Fourth avenue