Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-30
About Equally Divided, With the
Former Most Prominent.
AIRBRAKE AND CABLE STRONGEST.
Nothing on the List Shows Anything Like
Positive Weakness
COMPLETE VIENNA WHEAT ESTIMATE
MONDAY. Aup. %.

| it was full of weak points, and the
others moving with equal caution as if il
was full of strong ones. So far as note
worthy changes were concerned, however
gains were in a majority, but they were
very few, being confined to Airbrake ano
Underground Cable Pleasant Valley rail
wav, Switch and Signal, Central Traction
and Peoples Pipeage continued to show
weakness, but they underwent little change
from last weeks closing prices. All the
others were about steady. News and gos-
sip commanded premium.
Regarding Switch and signal u little appre-
henson' was expressed in some quarters that
the suit of the company against the johnson
Company, testimony in which is being taken
! in London, would terminate unfavorably,
while others were confident the home COM
pany would win. 1t will be remembered
that Judge Acheson decided against the
the case came up in the East some time
since. but gave the company permission to
amend its papers. The case is simply this:
The Union Switch and Signal Company
operating from the owner, an Englishman.
through an agent. Subsequently Mr.. John
son, who at the time of the purchase, was
in the employ of the Union Switch and Sig
flaw in the transaction, purcha sed the pat
ents outright from the owner direct. and or
ganized the johnson Company. When suit
Company against the johnson Company for
infringement, it was not, apd is
Switch and Signal Company did
for them, but the defense was, and is, that
the agent who first sold the patents had no
authority to sell them outright; that he was
k1,<,v -, ,,1 1fxy
According to these facts and the decision of
Judge Acheson, the johnson Company ap-
pears to have the legal standing OF the case
and the home company the equities. 1t is
claimed for the latter that its papers we're
defective when Judge Acheson's decision
was rendered, and that since they were
amended its position has been 1mpregnable.
is said, are quite confident of winning.
The frmness of Philadelphia Company
under rather liberal offerings was one of
the features. 1t looks as if something OF
an effort was being made to get it down,
but it appears to be pretty firmly fixed at %
with a promise of being higher Its inh
proved condition has made it many new
concerned it is getting into stronger posi-
tfon all the time. 1t recently purchased
outright the Howe farm, in Forward town.
ship, near the big Snee well, paying there
for $23 COO. The farm covers 125 acres. Two
wells have already been reported on the
farm and four more have been located. The
expected output will not have to be pfped
far, as the big Bellevernon main runs close
by. n all the other field operations of the
company expectations are more than being
realized.
Opinions regarding an increase in the
company's dividend rate in October are di-
vfded. Some say the company should not
increase the rate until a handsome surplus
has been built up. Others say that at the
present rate OF earnings the company is
able to increase the rate from to per cent
per annum and still have a good round sum
so add to surplus. There are probably just
as good. if not better, arguments in favor Of
deserve and should receive all they can get
in the way of dividends consistent with con-
servat1ve financial management.
There was little gossip current on Un-
derground Cable. but there was nothing par
fresh in it. Airbrake was also
talked of in the old gossipy way of big, earn
booked for so and Airbrake for i5o. 'N' was
Pleasant Valley showed a tendency to
droop to parity with P, A. & NJ. Trac-
tion; 1t will undoubtedly soon be traded
for P, A. & NJ. land 1t should not be any high |
er than the stock it is co be surrendered for. |
Considering the probable stock dividend on
z. V. and the manner of trading, Its parity |
with p, A. & NJ, which is at A bid, is %.
There was no trading on the local floor in |
Westinghouse Electric second preferred. !
There were sales in Boston just be ore the |
close at 371a and 375s
Action of the Market
Inc items traded IN on Change were Citi- |
zens' Traction, Philadelphia Company, P. &
B. Traction, Peoples Pipeage Central Trac-
lion and Duquesne Traction 5s. Citizens |
fraction sold at 6IA, closing at 6Ih@s2;
Philadelphia Company was well taken at %:
Ind the close was steady to strong at 23@23h;
Peoples Pipeage sold at 15s4, closing at 151S
9l6; r. & B. Traction opened at 265s sales,
to 26H sales and closed at $500 |
61a; Central Traction sold in a small way aI
914, closing at 29A@29ss, and Duquesne
Traction 5s sold at iOOE and interest
Among the inactive shares Airbrake
moved up to 1887 bid on call and to I3I bid
lfter the close; Underground Cable was
,fered at ls55a. but after the board a small
OF was offered at le1ss, with Is bid for it and
75s bid for 100 shares. Luster was steady at
AQlO and La Noria declined to 10@l5c.
xtent, the closing quotations being $3.50 |
91a. There was also slight demand for
5rake company, limited. at 90H with >some-
hing or desire to sell at 80. Others were
and featureless.
The Complete Vienna Estimate.
rBY CABLE TO THE DIsPATcH.I
LONDON, Aug. Copwi1hLl-Th Hun.
arian Minister OF Agriculture published at
Saturday, his estimate of the
worlds crops. surpluses and requirements,
nd, according to his figures. Europe will re-
uire to import something over ITO, 900 900
ushels of wheat this crop year from North
america, India and Australia and other ex-
orting countries. These estimates are at
ariance with those published to-day at the
International grain market at Vienna For
the Hungarian estimate for Rus
ian wheat is for larger crop than last
ear, while the Vienna estimate gives a !
,wer percentage than last year. /,
Through the courtesy of Messrs. Walter
'elmar Co. We are enabled to give the |
omplete Vienna estimate for wheat in Der
entages; Austria, ITO; Hungary, I02; Prussia,
pring Sc. winter 1o3 saxony, spring l07.
inter ia; Upper and Lower Bavaria, l25:
avaria and Hesse Palitinate, spring loo.
inter 120; Baden, 100; Wurtemberg, spring
! winter SO; Mecklinberg, ITO; Denmark, l03:
orway and Sweden. los; Italy, rs; Switzer
nd, III; Holland, 100; Belgium, lOe: France.
!; Great Britain and Ireland, 81; Servia. los. 6
gypt, 80; Roumania, 100; Russia-Podolia
/; Bessarilia, 25 Central, 50; Northern. 30.
herson and Ekaterina, 30: Courland and
lvonia, 100; Poland, 100. The above esti-
ates are prepared by the Austrian Minister
Agriculture from special Consular reports !
r the grain Congress.
Financial Notes.
Unlisted street railway closed as follows.
& B. Traction, 26s4@2616; Duouesne
raction, 29S@2911: p, A. Il NJ. Traction. ~
d.
At the last call 300 shares Motolina were s
fered at 65c per share and Metric Metal 8
as offered at par.
Here Is as good a bull pointer as the
Deacon" can give, and perhaps its more :
liable: The President of the General G
ectric Company is said to receive a salary
S6O, 600 year. The President of the West.
ghouse Electric Company gets nothing \
Ioaicee telegraph 1t Is question whether | Z
is Is q jOOd bull nOinter or q 600, h..o, | q