Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-06
THE BOOM STILL ON.
Trading Continues Active on an
Ascending Scale.
WESTINGHOUSE SHARES FIRMER.
Street Railway Stocks and Bonds Fully
Holding Their Own.
LOCAL AND GENERAL FINANCIAL GOSSIP
FRIDAY, Aug. 8.

The local stock market continues to show
an encouraging degree of activity and
bullish tone. The impetus it received last
week was evidently either greater than any
one imagined, or else the market is con-
stantly receiving fresh stimulanta Very
likely the latter. New buyers have been
noticed almost daily in the ring ever
since the revival-or whatever it
may be called-set in, and the
news, in the main, has been of
a char acter calculated to keep values NOV
ing in the upward direction. 1t has shown,
and still shows, many of the ear-marks OF
genuine bull market, and it looks as if all
had made up their minds not to run counter
to it. ''The fact of the matter
is" said well informed broker,
"that easy money has been asserting
itself. Idle funds accumulated during the
the spring and early summer to such an ex-
yearly settlement period arrived. After the
turn into July the supply was largely aug
mented by the interest and dividend dis
veloped and prevented reinvestments. As
soon as the worst of our industrial troubles
appeared to be passed money commenced to
come out. with the result of activity and
to be very easy and cheap all year, which
Will have tendency to cause O steady ad-
vance in all values 1t may, perhaps, become
too easy-may be put into everything and
anything to the ultimate injury of values
ana confidence. am not very apprehen-
sive on this score, however, as there will
be plenty OF room for & the investment nd of
on something tangible, something more
likely TO grow than to shrivel and Jade
away. The day of South Sea schemes is
over-trading. however, is always with us. I
believe q year of unexampled prosperity is
ahead of US, and it remains to be seen
whether we can stand prosperity or not"
Course Of the Market.
Trading on Change to-day covered q. s.
Glass, Duquesne Traction, P. & d. Traction,
Westinghouse Electric (old), Philadelphia
Company and Westinghouse Electric new,
and while the transactions did not loot up
quite so big total as latterly, the eagerness
to do business showed no diminution what
ever, and the tone gained strength If there
was any change. U. S. Glass sold at II early,
but it closed offered at the same price. with
no bids recorded. There was evidence to
show, however, that the buying movement
was not over. In this connection The Dis
PATCH is in a position to say that big
percentage of the buying on the way up
from IS has been for the account Of insiders
who desired to be as strong as possible at the
approaching annual meeting. In6re are
two factions, liberal and conservative, and
they are at loggerheads over the divided
question. 1t is expected there will be divi-
dend, but it may not be as large as some i'm
agine. On this point the following extract
from letter from an inside stocknolder to
friend on the outside Is pertinent: They
are bulling glass on per cent dividend.
Do not be fooled; it is not coming" The
stock, however, is good one, and has shown
good dividend-earning power.
The street railway shares were somewhat
fir frmsr: Du9uesnSe S sold at ssa and closed SsaI at
closing strong at 2654Q26zs: Citizens Traction
was up to 6lT bid; Central was firm close to
30, and the others were steady.
One of the features Of tho day was the de-
mand for street railway bonds, particu-
larry Duquesne Traction s., in which, it was
said, considerable business was transacted
outside the Exchange. The inquiry was
Gas shares were stronger. Philadelphia
Company was in good demand all day,
but there were no transactions unit!
after the close, when small lot changed
hands at 20. Unless all signs Iail
the stock will rule hig her next week than iI
has this. The July earnings OF the company
Peoples Natural Gas was bid up another
point. from % to %. Peoples Pipeage was
higher, and there was considerable inquiry
for Manufacturers and CHARTERS Valley.
sharp demand and higher. The old common
sold at 17s4, closing at 17N@ls. and the new
common at 29. The latter was active and
higher in Boston, where Kidder, Peabody &
Co. were reported as buying.
Air Brake was stronger at 127 bid;
Union Switch and Signal was steady to firm
and others were featureless.
The close of the market was strong at the
best prices.
The July Fire Loss.
The fire loss Of the United States and
Canada Tor the month of July amounts to
$l1 $50 OOO The st. Johns fire. being in New