Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-18
August, August
sac, o., 7SI s4s. O6s, 2O4 q, go. a
Local Securities.

increase.
Local Securities.
The transactions recorded at the Exchange
for the week ending to-day aggregated 1888
shares of stock, against $3.50 shares for the
five business days of the previous weok.
The tore of the market, looking over the
field at this time cannot properly be de-
scribed as otherwise than unsettled, with
the tendency of most shares to decline.
Strong points were not lacking, however.
and the closing bids to-day, compared with
those of last Saturday, show nearly as many
gains as los ses, as follows:
-4drGnccS -Airbral1a, ?: Citizens traction,
u Manufacturers Gas. !; Pittsburg and Cas-
tie shannon Railroad, !: Exchange National
Bank. =; Westinghouse Electric unas-
Egnrel, l.
D acIine,-Phra1elphia Company, a; Peo-
pies Pipeage, =: Pleasant Valley, e: Luster
Mining Company, l; Union Switch and Sig-
nal. s: P. & traction, IS: Duquesne trac-
tion, Z; Electric second pre- erred, Il.
Aside from the cholera scare and the wild
eyed rumOrs circulated by the alarmists
and the Wall street bears. the influences
We're mainly favorable. 1t was demon
strated that general business was i'm
proving: that the country's material inter-
ests were in excellent shape; that gold
exports were practically at an end, and that
there WAS no Likelihood of the money mar
ket becoming seriously stringent The
scare was divested of some of its terrors
yesterday and to-day by encouraging re-
ports from the East. but the disposition to
Law low ana Natcl WNlCn 1t en- enQ6reQ To-
cally was quite as noticeable at the close to-
day any time during the week, and in
dications pointed to its continuance for some
Gays Yet. 1t is believed however, that barr
Ing any further unfavorable develoDm ents,
the mar ler will soon respond to the condi-
tions which, despite the scare, tend to create
confidence in the future.
Gas shares.
In gas shares the surface movement of
the week was confined to Philadelphia
Company, Peoples Pipeage and Manufac-
tuIers Gas, with little sub rosa business in
Allegheny Heating Company and CHARTERS
Valley Ga. The decline in Philadelphia
Company was attributed in some quarters
to tile failure OF the Board of Directors to
increase the dividend rate, but best opinion
inclined to the belief that 1t was the result
Of realizing sales for Eastern account and
that the action OF the Board would ulti-
n.ately have stimulating eject. The trans
fer books of he company close next Tues
day, and the stock is likely to sar TO the ex-
tent OF the per cent dividend, but unless
the signs are wrongly read, it will soon re-
cover from any such a natural drop II the
statement the condition of the company,
30 lie sent to stuckEold rs with the dividend
checks october l. is anywhere near as good
as some OF the more enthusiastic claim it
Will be, the stock will not only recover any
loss that may be shown at that time, but
something IN addition. The gross earnings
for the quarter which Is the lightest in
point of revenue for the year. will be, it is
thought in wei-informed circles, anywhere
from $500 800 to S450. coo.
50 lar a. the cumpany'S neld operations or
late are concerned, it is stated that they
lave resulted satisfactorily. AT present in
terest Is centeIed in the well that was
started several weeks ago on the Howe
farm in the Elizabeth field 1t is only l25
feet from the Snee rOarer, and the company
s. looking for a big producer. 1t will reach
tie interesting point the early part OF next
week
Peoples Pipesge weakened on the intima--
tion that tie dividend for the quar-
ter would be Ia per cent instead
q non-producer OF gas, and it pursues the
policy o. paying according to its earnings.
Like ull others its earnings during the July
August-september quarter are lightest. and
accordingly its dividend for that quarter
should be smallest. However, there has
been no connrmation OF the report that the
dividend " ould be ~ per cent.
manuiacturerS Gas sold at 2S and some OF
tbc Others scld at private terms, generally
above, II Is SAID, recent quotations made on
Change.
Street Railways
There has been considerable trading in
the fractions during the week notably in
Duqursne, z. 6 b. and Citizens. Sales of
the latter aggregated fully 900 shares and
were all from one source, the stock going
into hands from which it is not likely to
drop very soon. The expectation is that
tile price will 30 TO G5 soon. Many believe
the Citizens line wlll ultimately be pur.
chased by the Pittsburg-DuQuesne people.
in which event buyers at present prices will
realize handsome profits.
p. 4 b. traction was strong at IS early in
the week under the support of Sproul a
Co, who appeared to have some pretty good
buying orders, but there was so much Of
feTing they withyrew, and the price sagged
TO 225k at which point they resumed their
buying operations. Hill & Co. also bought,
and the stock closed looking as if it had
struck bottom.
TIE decline in DuGuesne was a surprise
but II vas not considered significant. The
interests of those III control will be best
subserved by an advance. 1t is bound to
go up sooner or later
The movements in the other street railway
shares we're neither Large nor of any special
significance.
Citizens traction 5s sold during the week
at 10 Il sale o SO, coo being reported to-dav
at that price by Andrew Caster. Mr.. Caster
also sold 81 900 r., C., Z. & st. L. as at lo4%
fat. Interest on the Citizens 6s is due Oc-