Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-07
DULL AND DROPPING.
Trading on Change Light, With the
General Tendency Downward.
MOST CHANGES ARE DECLINES,
But Q. s. Glass and Peoples Natural Gas
Score Gains.
LOCAL AND GENERAL FINANCIAL NEWS

THURSDAY, Oct. g.
The market fer local securities was again
rather quiet to-day and the quietude was
accompanied by comparative weakness,
the changes, with one or two exceptions,
being declines. though none were more
than fractional The items en-
braced by the movement on Change
were Philadelphia Company, Peo-
ple's Pipeage, Westinghouse Electric
second preferred, Duquesne traction, Pleas
ant Valley Railway, Allegheny National
Bank and Westinghouse Airbrake. The
influences dominating the market showed
little appreciable change of character.
There was, however, little fresh favor
able gossip on some of the leaders,
notably P. & B. traction. but it was appar-
emily poH erless for the time being in the
direction of elevating prices or checking q
declining tendency. With regard to Z. & B.
traction it was stated on pretty good author
tty that the report to be read at the forth-
coming annual meeting would show that the
September earnings of the road were over
$S5, 600, the increase shown by these figures
being due mainly to an increase OF 70 per
cent in the earnings of the Short Line since
1t began operating with electricity as the
motive power. Accepting these figures as
correct. and assuming that the road can be
opernted for IS per cent, as claimed, IL was
argued that they meant that the company
could pay per cent on its IS 00O, 900 capitali-
cation and have q few Thousand left as
nest egg. The other gossfps related to large
earnings by Afrbrake, Switch ana signal
and Duquesne traction, but, as stated, it was
all without effect
-One of the strongest stocks of the liet was
United States Glass preferred, which was
bid up to Il4H on call and sold at lis on the
street. This is not very high price for
guaranteed per cent stock. however, par
ticularly since it is subject TO recall in ls96
at Ito.
Philadelphia Company sold at 22ss early,
with sale of an odd lot at the third call at
221l, and the close was steady ut 22A@22H.
Peoples Pipeage sold "for account" etc.,
at l5s5 and closed at 15@l515.
Electric second preferred opened strong
at 37sI sales, but it subsequently sold at 3711,
and the close was weak all around Final
Boston was at the same figures after sales at
81. and the final bid on the New York Stock
Exchange was Ses4 The first preferred
closed at 40 bid at all points.
Duquesne Traction sold to the extent of
ten siiures at 2S1 and the close was fraction
ally off at 2s54@3S7a The bonds sold at lolH.
Pleasant Valley sold at 251a and closed at
251A@25ss
Ifrbfaze was lower at 1as sales and a close
Allegheny National Bank sold at 66L and
Monongahela National Bank moved up to
l44 bid.
Union Switch and Signal was steady at IS
@lSb, Peoples Natural Gas gained n at 2914
bid, and Others of the regular list were
about unchanged.
Unlisted street railway securities closed
as follows p & b. traction, 2515 bid for 100
shares and 253z for 10, offered at 25A, with
Duquesne traction, 2sA@2S1s; do IS, 1o1ss bid;
p, A & NJ. traction, 4ls4945.
Pittsburg traction 5s were quoted at 104
bid.
Bridgewater Gas was one of the strong
points of the day, advancing to 20 bid.
Pittsburg National Banks.
Following is summary showing the con-
dftion of the local national banks at the
close of business September 80, compiled