Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-21

.tlS VIZ. Sou Inc. xo Oh. ot5
Local Securities.
Transactions on Change during the week
aggregated 2, 2l0 shares stock and 81. 600 bonds.
This is a air record. all things considered,
but the market was rated dull and strong
throughout. The most active shares were
the gassers and the indus rialS. nearly all OF
which scored handsome net gains The clos
ing bids to-day, compared with those of a
week ago, show the following changes:
Peoples Natural Gas and PIpeage, 4: Peo.
ple's Natnial Gas ~: Philadelphia Com
pany, Iss: whee lin" Gas, ~ Citizers' rrac
ticn 4: Westing' ouvs w.It Eiretrlc; ~; Under,
second preferred 2M
Declfnes-Pleasnnt Valley. 4: Union Switch
and Sinai. q: p. & B. Traction, 4; Westing-
house AirbIake. 81.
Westinghouse Electric was doomed by the
East, where a disposition evidently pre-
vailed to keep it well up in the running
boosted by some the shrewdest manipu
lators ever known to speculation. The
operations in the two stocks were evi-
IDENTIFY based on something else be-
sides merit, and 10 many they
foreshadowed an event of great Importance
in the history of both companies Natural
gas shares were advanced on a continued
Improvement in the condition OF the
various companies, and unless the leading
com panies ihat are producers of gas meet
setbacks afield their stocks are bound to
steadily advance. Even at the higher range
they look to be the best purchases on tile
list. The declines OF the week were with
out significane- Airbrake shows the great
est reaction, but II is only nominal. The
works at Wilmerding are again running
full time ana reports of a large number OF
fresh orders are current.
Street railway shares were comma ratiyely
NEGLECTED. so lar as trading was concerned,
thou h in the bidding and offering they re-
ceived about the usual attention daily. The
feature OF the week WAS the agreeire ent be-
nj 81 H.
eorption o Pleasant Valley by the Manches-
ter Traction, details OF reor anization, man.
aEemenr. etc, and the calling OF neeilng of
the Stockholders of the latter corporation
for the purpose OF voting Tor against a
proposition 10 increase tho capital stock
from SO Geo 600 to S. coo 000 All that is def nite-
ly l1nnU is that the Pleasant Valley Will get
81 6O0 COO forits plan t,etc.. or SU o more than
its share capital. Thi- S200, 900 bonus is to lie
divided up am, ns the Pleasant Valley stock
holders in the proportion of to 4: that is,
each stockholder will get one additional
share snsG for every seven shares
will be exchanged Tor p, A. & NJ. stock in
the proportion OF to 9. For instance: b
holds 20 shares of easant Valley, and hc
gets 10 additional shares as his f,a:T OF the
$500, 0,0I9 bonus. which gives him 81 sIares of
S25 stock. This he exchanges fo: AZ shirrs
OF T., A. & NJ. traction, u 500 stock. which
seer:ls to lie qui.e an equitable ca change.
Tue latter stock is not at par and V. is
half point above par, but the stock Givi.iend
o little more than makes up the difference.
Another feature OF the week was tie
statement made by the United Ssatns Glnss
Company at III. annual meeting on WcuEes-
day, which apparently showed that ing
the last six EIonths OF its fiscal year 1t
earned nearly per cent. The net earn ings
of s555, ,0o0 Will be doubled during The current
yea, according to the predictions OF the
President OF the company and the CON-
pany's friends. They should be. Before tue
16 actor les were combined they earned on
mn ave. age l. per cent per annlin each, and
If the net earnings of the combined com
panies this year do reach double figures,
as predicted, they will still lie about / per
cent short OF what they earned as
separate concerns. And this, too, not
withstanding rate-cntting on some iescrip-
tions of pruduct has been done away with
and pr cos advanced. The DISPATCH does
not desire TO pnse IS a bear on the stack. 1t
merely declines TO reoo nize the combine as
being all that many claim Il Is until it can
show AL earning power at least equal to that
shown by the various factories while run
ming as separate and competing concerns.
Few Comp ptrisons.
Some OF the most noteworthy changes in
prices within the last year are given in the
table appended, the figures given being the
closing bids on the dates named: