Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-19

obligations: the confidence of the people will
quickly revive, wealth will go on accumu.
surface of the Union. Looked back upon,
the crisis will appear only mere ripple
upon the surface OF the nations progress:
But all the same the crisis may come, and
most certainly will come If the present sill
yer policy is persevered in. 1t is pure cur.
rency crisis that we are apprehensive of.
and 1t Is not the existence Of wealth that
will prevent 1t, but the adoption OF a sound
currency SYSTEM
Financial Notes.
Unlisted street railway securities closed
as follows: Duquesne Traction, 29@30; P q
B. Traction, 26026ss; Central Traction 5s, los
asked.
Westinghouse Electric second preferred
street and 3211z bid in the East.
Westinghouse Electric was quoted at 90@
100.
The directors of the P, A. & NJ. Traction
Company have called a special meeting of
the stockholders tor Thursday. October 20.
at 230 P. n, to vote for or against an in
crease OF the capital stock OF the company
for the purpose of acquiring additional
franchises in the cities of Pittsburg and Al
legheny and vicinity.
J.J. Campbell sold Philadelphia Company
to Morris Brown, Carothers sold it to Rea
Bros and Hill & Co. sold it to Caster
Hill & Co. sold Electric second preferred
to Lawrence & Co. and later were bidding
Tor it "a above the price ut which they sold.
Mr.. George Westinghouse, Jr, in reply to
a telegram from the Boston News Bureau as
to the Importance of the contract with the
Philadelphia Traction Company. and also II
he was reported correctly as saying tnat the
WESTINGHOUSE Electric Company is earning
net nearly 100000 per annum, says: Il re-
gard the contract with the Philadelphia
Traction Company of great importance, in
view Of the fact that they have been investi-
eating the subject or the past year and
have several thousand cars under their con-
troll. The present order is for one line in
Philadelphia only. l did not make the
statement while in Boston with reference to
the earnings Of the company which you re-
fer to. Our business, however. is salts
factory and larger than anticipated"
1t IL stated that those who are banking on
stock dividend in Western Union Tele-
is contemplated at this time. Many i'm
provements are contemplated in the near
future. For instance the business of the
Chicago office has grown to such enormous
magnitude that the present quarters are
wholly inadequate to properly transact it.
The company is in the market for another
its cost including necessary alterations is
estimated at at least $l500.000.
The Illii ois Central Railway has declared
semi-annual dividend of ~ per cent in
cash payable September l. The statement
for the year to June 30 shows gross earnings
of $40 29l. .760 sn increase OF ST. 40 205 and net
earnings oil $5,22l. TAO. an increase of Sl0l, 23l
over the previous fiscal year.
The American Suaar Ref1neries Company
will this week melt 81, ,O0D tons more OF su rar
than last week. Refined was advanced ll6c
in consequence of the immense demand.
Discussing Western Union affairs Deacon
White is reported as saying: "There is no
hurry. Western Union is on its way to Ito,
and it don't need any help TO get there"
The demand Tor gold for export at this
season of the year keeps up little later
than usual. But this, Treasury officials say,
is undoubtedly due to heavy importings.
Assistant Secretary Spaulding said yester-
do hat ba Dana TINS VII Upd
this situation with equanimity, and was not
in the least disturbed over it. No evidence
has as vet been given to the Department Of
a combination to force gold to q premium
by rendering large amounts of silver Treas
ury notes forredemption in gold for export.
But in the event of such combination. the
Secretary could and no doubt would, put a
stop to it speedily by refusing to redeem the
notes in gold.
Sales and Final Prices
Transactions on Change were as follows:
BEFORE CALL.
10 shares Westinehouse Electric (old) 1qk