Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-09
DULLNESSON CHANGE.
Only ITO Shares Change Hands at
the Three Calls.
PHILLIE CLOSES FAIRLY FIRM,
And Duquesne fraction and Switch and
Signal Lule Strong.
P. v. STOCKHOLDERS A LITTLE WORRIED

Philadelphia Company opened to-day
with sales ffactionally below the price a
which the final sales of Wednesday ver'
made, but there was no pressure from any
source. and after the opening the stocE
ruled dull but steady and closed fairly firm
above the lowest on q moderate demand
The feeling with regard to it was unsettled
nnd with the sellers of the previous day ap'
parently out of the market, for the time be
ing at least, considerably less interest wal
manifested in it The rumor mill was still
doing business and q number of fresh gristi
were ground out, but the repetition of mos
of them can serve no purpose
particularly since they were obviously with
out any basis whatever. The most gosstpy
production of the mill was to the effect that
the officials of the company who did moi
have anything to do with the late compro
mise matter were at loggerheads with those
who did, and that the speck OF 1nternec1ne
war observable was likely to develop ln6o
something of consequence before long. Oh
course, however, this was not prouuceu
with an idea that it would have much OF an
effect upon the market 1t was evldently
circulated to show that the compromise
was not altogether satisfactory &c
the Philadelphia Company, but whether
1t had any basis or not remains to be olscov-
cEeu. 1C Is merely given lOI "hoO Ac
worth as part OF the passing gossip. Re
garding the movement of the previous day,
the street generally believed 1t to pc specu-
latfve, which sentiment harmon1zeo wItn Win
the opinion expressed in this column. The
story about the series of tests, which showed
a decreased pressure in the company
mains, was authoritatively denied to-day,
as well as q number of others; but for all
that, a feeling of uncertainty and u lack OF
confidence continued to prevail.
Duquesne traction sold at 26A, closing 9
steady to strong at that price bid; r 3:
traction continued weak: Pleasant Valley
was somewhat firmer; Union Switcn ana
Signal was stronger and fractionally hlgher'
Airbrake seemed to be inclined to weakness,
and others of the active list were feature
less.
IN the bank list a feature was furnished
by Liberty National Bank. which advanced
to 1l316@lA.
closed as follows: DuQuesne traction, s6A
bid: P. & B. traction, 2S1s bid: DO 6s, lO0
asked; p. A. & NJ. traction. 4S76QA: Central
traction 5s, loi11 bid.
were quoted at los Did, Pittsburg traction
IS at lO4 bid and Electric scrip at s211 bid.
Pleasant valley Railway.
Stockholders OF the Pleasant Valley were
semi officially reported to-day as growing
very restive and ugly under the snail-ltke
movements OF the p, A. s. NJ. people with
respect to the consolidation, and one Of
them, H. NJ. Long, declared it 70 be the in
tention of the board to declare the regular
semiannual dividend of per cent unless
some definite action was taken very soon.
This would necessitate further delay in the
matter, for the reason that if the p.
V. directors declare and pay the
wait until money to clean up is earned
before they cen talk consolidation again,
as each company must go into 1t free from
debt. THE Pleasant valley stockhoiders
want the dividend" said Mr.. Long, ''either
in the usual way or In the increased value of
their holdings resulting from the consolida-
tion."
The Manchester people have held several
meetings lately, but, according to their re-
ports, they have accomplished nothing.
They held one this morning, and another
was scheduled for this afternoon aI $3.50.
just before the latter convened, Mr. George
B. Hill said every thing was moving along
smoothly and that the deal would probably
be closed one way or the other in lew days
Later Mr.. Dali zell told THE DISPATCH there had
been no meeting-that "Mr. Magee, Mr.. Hill
and myself met at Mr.. Hills Office to talk
over few business matters, but they did
not relate to the proposed consolidation"
lar P. V. dividend will be declared and the
deal postponed, probably until the latter
part of the first quarter of next year.
Allegheny Valleys Earnings.
We understand that never in the history
of the Allegheny Valley Railway has such an
immense volume of freight passed over it as
during the last two or three months. says
the Philadelphia Stockholder. High water
mark has been reached, the figures for Octo-
Der considerably exceeding those OF the cor
responding month O year previous, when
the traffic assumed proportions never known
before. When it is stated that the immense
yards Of the Allegheny Valley, eight miles
in length, and the largest OF any road enter
ing Pittsburg, are taxed to their utmost
capacity, the statement of the heavy traffic
number of cars handled in October last in
the Pittsburg va rds reached the great ag-
gregate OF 1868. The number ofmtles trav-
eled by the Allegheny Valley cars on all the
the great total OF 2169 1877. These figures
certainly indicate a very heavy volume OF
traffic. The second track OF the road from
Twenty-eighth street to the Union station,
in Pittsburg. has been opened for traffic.
The new stretch of track will greatly bene-
fit and facilitate the movement of trains, the
exigencies OF traffic requiring more room.
Financial Notes.
Lawrence Co. sold Duquesne traction to
Hill & Co.
B.F. Arensberg and Kuhn Bros. sold Phil
lie to Lawrence & Co.
Some trading of real estate for bonds, in
yolying about $3.50, 900 or $4O0, 900. was heard
of to-day, but the particulars could not be
The returns issued by the Board OF Trade
for last month show that the imports de-
creased 4 $50 600 pounds, and the exports de-
creased 24O, 900, as compared with those of
November OF last year.
The annual report of the Atchison, Topeka
and Santa Fe system for the year ending
June 80, 1892, shows the gross earnings to be
sl7, ,347, ,225; net earnings, sl6 III, ,4b5.
The New York Central and Hudson River
Railroad Company has made an arrange
ment with Drexel. Morgan & Co. to extend
its five per cent debt certificates, amount
ing to sc, $50, 600, due May La
Sproul & Co. bought Is shares N. & NJ.
From Sproul Co.'s market letter: Foreign
advices were not encouraging, as Russia is
again taking gold out OF the London market
while tue prospective failure OF the Brus-
has q further depressing influence. The old
question of the continuance of the Sherman
act and the likelihood of gold being at q
premium showing heavy shipments to
Europe and reducing our reservesi is again oc-
cupyfng u position of interest and naturally
causes good deal of hesitation. No gold
was engaged to-day, though bankers look
for shipments on Saturday with the prob
ability of further outflow on Tuesday
next.
speculation remains very inactive. and peo-
pie are getting somewhat disappointed that
the Republicans 90 not show a greater de-
sire for the repeal OF the silver bill. 1t
seems to be the general argument on their
side that this Congress will do little or MOTH
ing and everything will be left to the next
Congress. The exchange market remains
very strong No gold will go out this week,
but we expect to see about q, ,0O0, 900 go for
ward on tuesdays boat.
MONETARY.
There is no change in local conditions, un.