Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-23
DULLNESS CONTINUES.
But Firmness Still Prevails and En-
couraging Signs Develop.
NO MATERIAL CHANGE IN PRICES.
Street Railway Bonds Most Prominent in
the Exchange Yesterday.
GOSSIP, SALES AND FINAL QUOTATIONS

GOSSIP, SALES AND FINAL QUOTATIONS.
FRIDAY, July "a
Trading at the first call of the local stock
and bond list to-day was fair, giving promise
of comparatively active day, despite tho
torridity of the weather, but the promise
was not fulfilled, as the subsequent calls
| were very quiet and featureless affairs
The business of the day covered Wheeling
Gas, Philadelphia Company. Pittsburg and
birmingham Traction 6s, Pleasant Valley
consolidated 6s, Duquesne Traction 5s,
| WESTINGHOUSE Electric scrip and Westing-
house Airbrake Wheeling Gas sold down
to 1871, closing at 18N asked; Philadelphia
Company sold at 10 and closing at 18I@19;
Pittsburg and Birmingham 5s sold at 101% n,
Pleasant Valley 5s at 101 and interest, Du-
quesne 5s at 100A, Airbrake at 125 and
Westinghouse Electric scrip at 81. The
feeling generally was strong, but changes
were few and without Significance Air. a:
brake closed nominally at 123@l25. with 125
bid for a small lot. Luster f1uctuated sdme-
what without sales, closing at 1l@l4; U. S.
Glass common recovered to 64A bid; the
street railway shares were steady to strong,
the new electric stocks were in demand,
Bridgewater Gas was quoted at Is bid, Pipe.
age was steady, and Pleasant Valley Rail-
way closed little higher at 2oz@26N. Every
thing else was unchanged and more or less
neglected.
There was an excellent demand for Phila-
delphia Company, Central Traction and q
few other leading items but all orders esas
holders did not care to accept. Talking
on this point and the reports of dull.
ness with prominent l ,5Ia broke, @ he displayed yea
selling orders in various stocks and bonds,
saying he could not execute the buying
orders owing to the armness of holders, nor
to prices little above the market. Another
exhibited q bundle OF junction Railroad
IS and said there was considerable doing In
junction stocks and bonds and kindred
securities. The demand for street railway
bonds outside the Exchange was also quite
marked, and inquiry for school bonds was
noted from investors of small means. The
demand for bonds. together with a little
fresh nosing around for stocks in O small
way, indicated a revival of interest on the
part of the public, and predictions OF an
early season of comparative activity were
made by various close observers.
The story about the Central Passenger
Railway Company's intention to construct
ally to Williamsburg, to be operated by the
Central Traction Company, which was
printed in THE DISPATCH this morning, at
tracted considerable discussion on the street
be inspired by the Pittsburg-D Duquesne COM
bine and only another step in the direction
of consolidating all the street railway lines
OF the two cities under one management.
A director of the Central Passenger Railway
Company said to-day that the company had
resolved to do just what was outlined in
The DISPATCH. and that work would be COM
menced as soon as the necessary ordinances
were secured.
More Electric Combine Talk.
The Boston papers are again talking about
the Electric Combine absorbing outside
companies. recent issue of the Giobe con-
tains the following: There are no tndica-
tions of any immediate combining Of the Gem
eral Electric and Westinghouse companies,
all reports to the contrary Notwithstanding.
The Westinghouse Company is evidently
doing q large business, and has placed large
contracts, but at prices which competitive
companies figure must show a considerable
loss. This gross business. however, is max
ing the Westinghouse people very indepen-
dent, and probably removes the chances OF
combination farther away than ever The
report thatth Fort Wayne is to be taken in
by the General Electric Company Is denied
1t has been thought that the company would
be absorbed on the basis of a per cent guar
antee, the same as it pays to-day. but this Is
not likely until relations between the Cen
eral Electric and the Westinghouse COM
panies are closer than is the case now
The Herald says: "The bond circular Of
$40 0OO, 600 General Electric Company stock |
$3O 067, 200 is issued. OF $40 600 preferred
s. l56, 800 is issued, and OF $l0,0OO,OOO bonds |
that this company will absorb the westing- |
house Company is on time. But in the same |
breath it is stated that the General Electric |
Fort Wayne stock until the relations be- |
tween the General Electric and Westing- |
house Companies are closer than is the case |
now.' This can be variously understood, |
hi hat will
be used club to compel the w esting- |
house Company to surrender, OF, at least, to |
abandon its sharp competition. There may |
be no immediate prospect OF consolidation, |
but the chances OF consolidation in due time |
are considered better than ever"
Sons of MIR. Keene's Bull Talk. |
Mr.. keene, the great Wall street leader, |
has been talking in an optimistic strain |
lately, and his views have been scattered |
broadcast. Following is part of his latest |
utterance: Il think the outlook for railway |
is very encouraging. Our crops are |
as good as they have been in any year in |
the past ten-if VIC except last year, when |
they were abnormal. The wheat and oats |
crops are both full and of good grading |
quality. The corn crop, upon which great |
stressis laid by persons who hold pessimistic |
views, WILL l think, with reasonably favora- |
bic weather, make yield of not less than |
], 800, 900 900 OF bushels. The excess of old
usually held by the farmers from one crop
to the other is not less, according to the best |
obtainable by me, than $780,
largest ever harvested in the United States
The excessive rainfall has given to the |
farmers such abundant pasturaRe that tile
saving in grain usually fed to stock in
pensating for any deficiency In this years
corn yield. Ahead of the railroads there is
also the great PASSENGER and general traffic
net results of which will be large but diff
cult now to estimate"
Financial Notes.
At auction in New York yesterday 25
shares Standard Oil Trust sold at 16L
Memberships in the Boston Stock Ex-
change are quoted at $7. 500 bid, Sl9, 500 asked,
and are about the strongest thing in the
market.
There was little Pittsburg buying of
Electric new common in Bos-
ton to-day at 27A. Late advice from that
1t 21A; very little Offering"
Pleasant Valley Railway. which closed at
15A@26A. was offered at 26 after the close.
BituInlnous coal land in this section is in
active demand and good deal has changed
hands lately. One law firm alone reports
that nearly 81. .ooo. 900 have passed through
account Of transactions in this class of
The consolidation OF the Edison Electric
Company, of Rochester, N. Y,
the Rochester Electric Company, and the
acquisition of the Brush Electric Company
with the Consolidated Gas Company of
Rochester, has been effected. the stock to be
a 300, 900, divided into q, 500 shares of pre-
ferred stock, entitled to 6 per cent dividends
cumulative and the balance common stock.
rhe capital stock is apportioned between
the different corporations.
The Pullman Palace Car Company has de-
,lared its regular quarterly dividend Of
per cent, payable August Is. The books