Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-28

= ing tile past year the Standard Underground
: Cable increased in value $4,000; People'
i Natural Gas, $40 0O0 CHARTERS Valley Gas
Y $50 600; Central Traction, $3.50 900: Pleasan
Valley Railway. sl75ooo; Pittsburg: ALE
| | Pittsburg and Birmingham Traction $3.50
) | 900 ana Duquesne Traction s961, 900, the grant
total, including the Westinghouse shares
; To these facts may be attributed, to q
large extent, the confidence shown in the
} market, as the public has not been slow te
realize that the Improvement in valuation
has been caused by a more economical man
agement, bettered physical conditions and
brighter prospects
The closing bids this week compared with
those last week, show the following changes
| i'll the leading shares:
hdvGnces-People's Pipeage, u; Philadel.
Ehia ha.,;on Company pan l. i9 Bridgewster Gas. 3;
4: Air Brake, 81; Underground Cable. 81:
fittsburg Traction, 2; Peoples Natural Gas,
u; ns.; =; & B. Traction, Traction, A - o..
Traction, N; Pleasant Valley, II; Duquesne
Traction, u: Luster, Il.
From a Brokers Standpoint.
In their regular weekly letter A. j. Law
renee & Co. say of the market: "One Of the
| most active weeks in our stock market this
| year closed to-day with values pretty well
| up to the highest point reached. Our ex-
change while filling very important ftnc.
tfon in establishing quotations on an exten:
sive list of securities, which otherwise would
be deficient in collateral value, does not vet
give more than remote approximation of
the volume of business. This is especially
true of the bond department.. but also ap-
| plies to stocks, and during the mast
week tile Office trading was unusually large
We hope the time is not far distant when
the great bulk or transactions will be made
publicly on the floor or the exchange This
Will not only be more satisfactory to the
broker and his principal, but will tend to
broaden the market and facilitate the nego-
liability OF securities as collateral or other
WISE
The Westinghouse group OF stocks has
by all odds dominated the market, and the
advances range from per cent on Union
Switch and Signal to 10 per cent on Electric
second preferred. The rise in the la tier bas
even exceeded our expectations, although
readers of these letters will recall the fact |
that we recommended its purchase two |
weeks ago when the price was ruling at s2s |
and $50. Air Brake also broke its previous
record for high prices, advancing to sl3S and |
s,sa stSS on the E1change and selling privately
the 9Th prox., and we are confident that the
showing made for the past year will fully
justify all the good things we have been say.
ing about it. We do not care to express an /
opinion as to the imInediat te future of these |
stocks Air Brake we believe to be a sale
and profitable investment at current quota.
tions, and we have been told that Mr.. West
inghouse thinks equally we'll of Electric.
The latter is certainly creating big stir in
lOnOrS |
Genera Electric. After such q sharp rise.
however, it would be natural to look for
reaction, and yet those who predicted one
after the price reached S35 misca culated |
the force OF the movement. For this reason
we are OF the opinion that there is some |
thing more than mere speculation or
manipulation behind, but whether that |
something is con solidation or some new
Development in electrical inventions we do
not know.
philadelphia Company, Standard Under.
Nnl eola 4
higher and persons who a month ago fixed |
upon 20 and 81 as the price at which thew
would take profits on the first named, have |
elevated their figure TO 25 The East has |
made such nice turn in Electric that it |
would not be surprising if it were to take
hold OF Gas. in which event the proit-taking |
point would be further advanced: but it has |
been our observation that those who waited |
20 realize the last fraction were usually dis
lppointed. I
ne STOCKS mentioned, we would suggest
hat they look into the merits OF the Trac-
ions, Doth from speculative and invest
nent standpoint. The Manchester Pleasant
alley deal is almost certain to go through,
nd 1t Is equally certain that if it does Man.
nester stock will advance. There will not s
nly be legitimate basis for an advance,
Tut as matter of expediency it will be to
he best interests of those pledged to the | c
cheme to make the stock attractive We
eileye that Dnquesne and Birmingham are 9
lso due for a further rise and that the Trac- | t
ions generally will be leaders in the next 8
4
1ovement in the Market" a
Tips From Wall Street.
Watson & Gibson to Oakley & Co: "Mr. | b
purgeon once said that If one may suppose
1mself into trouble one may also suppose \
imself out OF it. This will apply to MANY :,
our market troubles. They are more
naginary than real, and when the public
opposes 1tseit out; it will be out The
holera scare is probably of the same char. | =
cter as our other scares this summer aud 9s
retty soon the frost will come along and .
reyent any spread of the disease, even If it W
assed the quarantine. The intensely hot
Gather in Europe recently, weather OF al
lost unprecedented sultr1ness. has doubt
ss agra waited the situation and produced
great deal of sickness which wonld ordin
rily not be cholera. We have a cable from II
avre MS morning saying that reports sent
ut were much exaggerated
Ine holders of stocks are not selling: the
ears are putting out new lines ON each
EN- OF bear news, but their sales make only |
faint impression on values
The bank statement was better than ex. ",
'cted, showing loss of only So boO 600 in re. | !,
rye. Of course the loss of actuaI rnonav Qt
rs greater buta loss of over 81 600 900 in de- us
'sits reduced the reserve -euuirements cor. | th
sponoln2Iy. Io-oay,s market wasstronger -
an we expected. We thought bulls wouId na
yea cnance to buy some cheaper stocks fid
day from bears. but the latter were too th
Try: Try, They evidently would prefer to ca ca
an to increase their commitments Hold. I'll
OF real stocks show no nervousness. The la1
LIT OF speculation is bullish and no mis-. ha
le. -"
We continue to recommend Whisky Sc. 30
ust, st. Paul. Cotton OIL Lead Trust and ! s,'' s,'
tario and Western. Reading was NOT su s.
ry active to-day, and it was not weak in ", ou
lsequence OF the statement of net earn | w W
g Iof July. which showed q loss com. a., az
red with July, 1891" ey,
Financial Notes. Wi
;. 4 B. traction closed at ees1aos1<. do x. era
\ 1lglM DIG pnqpesne traction, 2s bid; p, A. An An
ill Co and Kuhn Bros. sold p AM the
ND w. Il. Thompson Co. and A. Caster Gre
lght - 0"''ol pre-
. M. Long sold Pleasant Valley to Kuhn ~
IS. and Fred Rinehart Una
,orrls Brown were the sellers of Peo- rus
. . flpeage and A. A. Adams and j. ID. ~, III
J. Lawrence & Co. bought p. B. trao- w9
] from Morris 4 Brown. .
ndrew Caster sold 100 shares r q a. A. !ak
L. preferred at 63L IN
Z. Morris. OF Morris q Brown returned ( tins m
lay from an outing in the Northwest su mou
irieno OF underground Cable predfcts ~ ~
the stock will pass 90 next week. no'
resoent thompson is quoted as saving
ne Deileves dividend will De paid on CI
lonai Lead common next year r;r
!. nosseLi sage says he feels more hope | -,
III III regard 20 the ultimate value of rail- Oiu
securities tnan at any time in the past con
,r the Quarter ended ended June s0 1907 ,nol
statements OF the Lake Shore and Mfchf. | roo,
Southorn shows: Gross earnfncs a5 16n .cid
an increase OF &26l. .I79. orsra k{no ~ -~.i