Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-25
A NUMBER OF GAINS.
The Boom in the Local Stock Market
Still Unpunctured.
SLIGHT REACTION IN PHILLIE,
And p & B. and Duquesne fractions Look q
Little Less Buoyant
THE INDUSTRIAT,S ALL HIGHER
SLIGHT REACTION IN PH1LLIE,
THE INDUSTRIALS ALL HIGHER
WEDNESDAY,, Aug. "a

There was only one weak spot to-day
Philadelphia Company. It is hardly the
correct thing, either, to say that 1t was
weak. 1t merely reacted q little. II may
react further, but it is safe purchase, ac-
cording to people whose opinions are en-
titled to respect. at anything below 25, and
the optimists predict it will 90 to 30,
possibly 35, before the 1st of January next
The basis of the upward movement has
been potent to the street and public for
some time past and it. would
be waste of space, therefore,
to thresh over the old mildewed
straw in its behalf, if, indeed, it would not
look like an effort to unduly advance it.
The strength of the basis of the upward
movement will be tested as soon as cold
weather arrives. and until that time 1t may
be the part of wisdom not to bank too
heavily on the result of the test being favor
able.
Besides Philadelphia Company, neither
P. & B. Traction nor Duquesne Traction
Everything else. however, was strong, and
many good gains were scored. One of
the features Of the day IVA was the the
aa a1d the advance M ''iss' in it's price. The most
noteworthy features after the CHARTERS ad-
vance were the advances in Westinghouse
Electric second preferred, Underground
Cable, Switch and Signal, Wheeling Gas,
Peoples Pipeage and New York and Cleve-
land Gas Coal. The demand or all OF them
was sharp, continuing right up to the close.
day. Bull talk was about all that was heard,
the most general argument being: "If the
market is active and strong now, what
Mtll Situation 1t IS Se mosh nos .ne facsor ACTOR
and everything is moving along smoothly.
We are going to have big booming market
this fall Perhaps. We hope SO. Money is
market. 1t is possible, however, that the
present movements may be the result OF
operations in the way of discounting the
future.
Course of the Market.
The shares traded in on Change were
Peoples Pipeage, P. & B. Traction, Philadel-
phia Company. Westinghouse Electric sec-
ond preferred, Wheeling Gas, Switch
and Signal, CHARTERS Valley Gas,
Pittsburg Traction and Duuuesne
Traction. Peoples Ptpeaee sold at l6@l6A.
closing at l61s@leN; 7. & B: Traction sold at
pany sold down to 2sIS on call, closing at
a2H@2S1s, with a sale at % after call and offers
to sell at %; Westinghouse Electric second
preferred sold at ss@35H at the first call,
jumped up to 367S bid at the last call, in SYM
pathy with similar advance in Boston,
closing at 3611 bid here, and at 37@371 in
Boston; Wheeling Gas moved up to 20 sales:
sales and bid; CHARTERS Valley Gas sold at
121s@12L4, closing at ls1a@l2sss P. & B. Trac-
tfon solu at 80. AND Duquesne Traction sold
at 29H, closing at 2915@30.
Among the inactive shares New York and
Cleveland Gas Coal was higher and Under
ground Cable was bid up to tn but Others
were ere without Lh noteworthy 10 C,tn change Wlgs.
by Morris & Brown. Mr.. Brown said: "There
is nothing up in the stock that know Of
We got an order to buy 200 shares and exc
nnf fnd f1a0 0rhn That Il n,a
OF the sellers said: "There has been a
quiet inquiry for the stock for two
or three days, and 1 would not
up and then declare q dividend had been re-
ceived by the insiders" The general belief
was, however, that the stock was merely
sympathizing with the other gassers. The
argument is advanced by some that II
Philadelphia Company is worth nearly 30 |
per cent OF par CHARTERS Valley Gas is also. |
The comparative dullness in street railway |
shares mystifics many, but they believe that |
whom the activity in the gassers and indus |
trials subsidies the fractions will again be |
taken in hand. |
r. & B. Traction.
E. E. Dennison, of PHILADELPHIA, who is |
largely interested in P. B. Traction and |
CHARTERS Valley Gas, and who represents |
other interests in the same stocks, was in |
the city to-day, and some attributed the |
in the shares mentioned to |
operations for his account. Mr.. Dennison |
was seen at the Duquesne Club this after |
noon, and while he talked very freely he |
said nothing particularly new regarding |
either p B. or CHARTERS. He intimated, |
however, that p & B. was in better shape |
than good many people imagtne,a and that a |
dividend would come sooner than expecsed. |
The company is getting along finely, is free |
from floating debt and at present is earning |
at the rate OF $365 0C0 gross per annum.
Tho r. r. R.'s Earnings
The following is a statement of the busi- |
ness of the Pennsylvania Railroad Company: |
All lines east OF Plttsburg and Erie for July,
1892 as compared with the same month in
1891, show: