Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-03
LOCALS ARE BOOMING.
Q. S. Glass Common Scores an Unu.
sually Sharp Advance
AND ANUMBER OFSHARES FOLLOW.
Street Railway Stocks Conspicuous in the
Improvement
A GOOD DEMAND FOR EVERYTHING
TUESDAY, Aug. 2.

United States Glass common was the over
shadowing feature of the local stock market
to-day. Opening little above last nights
close, which was at 66H bid, it walked right
up to 20 bid, with sales at 6S@6sH on the
way up and none offered at the close below
75 The skirmishing for the stock began
quietly late last week. One of the Fourth
avenue brokers received an order for sew
eral hundred shares, and after executing a
small part of his order, he sent an emissary
over to the Southside to pick up the re-
mainder. There it was discovered that a
pool of insiders had been formed to buy
the stock, their intention being to use their
preferred stock as collateral for the sinews
of war with which to corral all the common
in sight Then operations began above board,
the result being the advance noted. Less
stock was secured on the rise than was ex-
pected, and consequently the profits Of tho
even if they are successful in getting out at
the top. The movement, however, has had
an excellent basis, and it Is predicted that
at which it was first brought out. The basis
was dividend expectations, and they are
likely to be realized. The board of direc-
tors win meet St TO- ama
they will declare a dividend Of or 1
per cent, probably the latter. The dividend
on the preferred is due September l, ana the
common, if it is declared, will probably also
be paid on that date. The annual meeting
of the stockholders will be held Wednesday,
August II. U. S. Glass common, 1t will be
remembered, first came out at 75 1t then
declined by easy stages to sales at6l15 on
change, recovered to 79L. again reacted to
64% sales and again recovered to 20 to-day as
noted. The demand for it at the close was
CT, n
Besides U. s. Glass the trading on 'change
covered P. & B. Traction stock and bonds,
Philadelphia Company, Duquesne Traction
with the exception of Pniladeiphla Com.
even even FhiladeIphia' Company was not
,Ss wsak o,oIin IT. sold at sM@
lot offered at 1875 after the close. P. & B.
Traction was quite prominent for both &C
tivity and strength. The demand for it that
developed at the close of last week was un-
abated. Indeed, it was more forceful and
persistent, and under this influence there
were sales of small lots as high rs 26h and
the close was strong at 26ss@26h. A good
there was play of some kind OF other in hand
but the probability is the movement is de-
void of manipulation and has for its basis
sympathy with the other leading shares and
good legitimate orders to buy. When the
stock was heavy around 25, and before the
general activity set in, 1t was considered by
many an excellent purchase; Il Is probable
also that the recent semi official statement
that the company is free from floating debt
has not been without q stimulating effect.
Duquesne Traction was strong, without be-
ing any higher, and the same may be said of
Union Switch and Signal, which sold at l6l1
and closed at 1873 bid. P. B. Traction
bonds sold at 1917.
=. Among the shares which did not figure In
the trading Central Traction was higher at
293z@301a; p, A. & NJ. Traction recovered to
~ bid; Airbrake was higher at l25AGl26111;
Peoples Pipease moved up y To- to 1sA @ Did and
Valley was quoted at 2515@25sI with rumors
of a recent sale of round lot at 25sI. Others
were featureless. The close generally was
strong at the best prices.
The P. Y. and p, A. & M. Deal.
A number OF people have been inquiring
of late about the status of the deal for the
absorption OF the Pleasant Valley by the
Pittsburg, Allegheny and Manchester Trac-
ton, the continued lack of gossip there
anent evidently having aroused their
curiosity. In conversation with Pleasant
Valley man on the matter this afternoon, he
said: 'sThe deal is awaiting the attention OF
Congressman Stone, our attorney. He was
in the city last week, aud looked over mat
ters little, but the most of his time was
taken up with some real estate deals in
which he was personally Interested,
and he was compelled to postpone
action on the street railway matter.
AS soon as Congress adJourns, however, he
will have plenty of time to give to the con-
solidation, or'absorption, or whatever you
please to call it, and as soon as he passes
upon 1t the thing will be over one way or
the other. In all probability it will go
through"
August Disbursements.
The Daily Stakeholder calculates interest
and dividend disbursements during August
at $25 600 900, including the amount disbursed
upon municipal and corporation securities,
etc. The payments on railroad account COM