Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-26

| traction SOLD at 2o1a at the third, PeOple's q
| Pipeage at Is, and CHARTERS Valley Gas al
| 121k. After the call so shares DIquesne trac
| tion sold at 2S3 and so shares more were of.
fered at the same figure.
Westinghouse Electric second preferred
| was quoted at 37@3715 and the scrip at 94@95
After the close one of the brokers offered
| to trade in Switch and Signal at lS5z either
| way.
Unlisted street railway shares closed as
follows: P. & B. traction. 24s4@25: Duquesne
traction. 2Sss@2s14; p, A. & Nj. traction. ~
@44ss.
Westinghouse Airbrake.
1t developed to-day that the weakness OF
Westinghouse Airbrake was caused by an
advertisements OF the New York Brake Com
pany, embodying letter from Vice Presi-
dent Webb, OF the New York Central Rail.
| road Company. In this letter Mr. Webb
says, among other things that "rhere is no
difference between the operation of the
Westinghouse airbrake and the airbrakes of
the New York Airbrake Company" He
| also says that 1--WE are satisfied that there
are no practical objections to allowing the
cars equipped with the New York brake to
with the Westinghouse brake. 1 have,
therefore, issued orders removing all re-
strictions as to the use of cars equipped
: with your brakes; and hereafter cars SO
equipped will be received and operated by
| this company and treated precisely the
same as the cars equipped with the Westing-
that the New York Central management be-
lieves that the New York Brake Company g
apparatus can be used interchangeably
with the Westinghouse without injuring the
latters patent right. but the two companies
are engaged in litigation on this and other
points, and until they are legally deter
mined the New / ork Central Is not likely to
take any steps looking to the extensive use
ever, that they may have some advance in
formation or the probable result Of the liti-
ested In both the New York Brake ECO Company %
and the New York Central Railroad Com
pany, they have been induced to put his
brake T on % wherever M and .Sh,e whenever possible
not add to or subtract from the merit of
either brake. The Westinghouse brake has
other ever made time and again. the last
demonstration being investigated by Cover
nor Flower himself. 1t was only a short
time since that the Chicago, Burlington and
adopted the New York brake, threw it off
the road in disgust, and declared emphati-
cally that there was nothing in the brake
line to compare with the Westinghouse up
paratus.
THE DIsPArcR does not think the investors
ip Airbrake have anything to fear from the
New York Brake Company, and the West
nghouse people are serenely confident.
7 he price OF the stock NAV decline further
as the result of sales by those who believe
they can get their stock back at lower prices,
feet on the dividend paying power of the
company. 1t is a dangerous stock to short,
Is there is no telling what morning short
staring him in the face.
Mining Shares.
The story about Enterprise Mining Com
pany printed exclusively in THE DISPATCH,
caused good deal of talk on the street to-
day, but the stock was not mentioned on
Change Friends of the company were in
clined to believe that the situation had been
exaggerated and that Messrs Crawford,
Posey ct al and their plant were all right.
George Crawford has had a long and varied
experience in the mining business" said one
of them this afternoon, Especially the legal
end of it, and they are not likely to take
any steps in the dark. l think you will find
they are all right and will continue to do O
paying business at the old stand for some
time to come"
A telegram was shown on Change during
company had declared the regular monthly
dividend of per cent. or 10 cents per share,
which Is evidence that the company is still
making little money either on their own
or some other property.
The Mining Industry and 2rodesman of
Denver, just at hand, however, corroborates
the Rico Ae,cs and calls Messrs. Cra awford,
Posey, ct al. some very bad names, in con-
junction with reference to shooting and
pehitentiary that are quite characteristic OF
the wild and woolly West.
during its past fiscal year sold 4,os8 tons OF
ore. which averaged $36 12 per ton, and the
net result was loss of $33, ,596 30, or $s % per
ton. To meet the loss and provide for the
future, the company issued $50, 900 in bonds.
The mine is looking better than it has Tor q
year, and gives promise of again becoming
a profit payer. A new discovery of rich ore
has been made near the surface, about 200
feet from the shaft northeast toward the
Custom, and it promises to yield we'll
Financial Notes.
II. NJ Long and Lawrence & Co. were the
principal buyers of Phillie to-day.
Morris & Brown sold DuQuesne traction
and SprouI & Co. and j. B. Barbour bought.
Hill & Co. and Long sold Pleasant Valley
to ]. D. Bailey and Sproul & Co.
Lawrence & Co. and Hill & Co. sold P, A.
& NJ. traction to Long, A. A. Adams sold
sold CHARTERS Gas to Morris & Brown.
The small lot OF Airbrake sold went from
Lawrence & Co. to Morris & Brown.
The Secret Service Division has discov.
cred a counterfeit of the new issue Of the q
silver certificate. series 1885, check letter b
22S5 w. s. Rosecran Register, James W.
Hyatt Treasurer. The most marked differ
ence between this note and the genuine, and
a difference which will result in the detec-
tion Of the counterfeit at glance, ia that
the upper loop OF the in James, in the sig
between the D. C. after Washington In the
genuine, while in the counterfeit it is about
one-eighth of an inch to the LETT, or imme.
diatey under the letter d.
Chartered to-day: The Hyndman Electric
Company. Of Bedford county, capital stock,
81 500. The Workingmen's Land Association,
of Allegheny; capital stock, $25, The
South McKeesport Land Company; capital
stock. $35. 900.
There ought to be enough money in this
country to meet all possible requirments.
At the beginning OF this month the amount
OF money in cfrculation-in the hands OF the
people-was about Sc 900, 600 600, or $65 000,O 900
more than at the BEGINNING of October in
1891. OF late the Northwest has been draw
ing large amounts of currency from Chicago
of interest Loans are made at s to 8 per
cent. Grain shippers and carriers are large
borrowers. and packers are asking for con-
siderable eassfstance.-Cn Chicago Tesea
The price Of the Union Storsue reported