Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-28
DULL AND STILL WEAK
Street Railway Shares Continue to
Show a Declining Tendency.
PHILADELPHIA co. is STRONG,
And Some Of the Industrials Also Exhibit
Fair Strength.

And Some Of the Industrials Also Exhibit
Fair Strength.
LOCAL AND GENERAL FINANCIAL NEWS
THURSDAY, Oct. q.
An improving demand for local stocks
and bonds was noted to-day by number oi
the leading brokers' They all seemed con
vinced that interest in the market was
broadening, and that prices as rule were
down where they were generally regarded
as low, but for all that they were 10th to
predict any radical change either in busi.
ness or prices until after the election.
The market to-day certainly reflected
very little new demand or inter
est, being dull and generally weak, but
there were indications apparent to close
observers which seemed to justify the ex-
pectations and predictions of an early i'm
| provement No bill of particulars can be
| given. 1t is sufficient to say that the best
| people to follow believe nearly everything
on the list to be good purchase, and they
select for specially good things such shares
| as Duquesne traction, P. s. i. traction, p.
| A. & NJ. traction, Central traction, Philadel-
phia Company and Westinghouse Atrbrake
The prominently weak spots on Change
were p. & b. traction, Duquesne traction and
P, A. & NJ. traction. and che strong on.s
were Philadelphia Company, U, ion Switch
and Signal, Electric. United States Glass and
underground Cable. Airbrake brake. was not not
up to the previous days mark and was
largely nominal. Erstwhile bulls are not very
much concerned about it. and the general
a time. At least, good many who fancy it
is purchase at about 125 are letting dare
not wait upon would. As it stands
is pretty sass tSs
side. If the company wins its suit against
the New York Brake COMPANY. thus estab,
fishing complete monopoly, its stock will
be- dirt cheap at $50; but If the suit
ably suffer a material decline. From
Westinghouse standpoint the New YORK
fringement and it is said that number of
neutral railroad people Of prominence, who
understand each brake, have so declared 1t
to be.
The demand for Philadelphia Company
was sufficient to move it up little and
make strong close at the highest The low
temperature of late has caused q large IN
crease in the household consumption of gas
gas to materialize is creating uneasincss
among the shorts and stimulating purchases
for all accounts. The low price of petroleum
is a bear on Wheeling Gas, but all the other
mem bers of the group are firm.
Union Switch and Signal showed increased
strength on repetition of the late stories
of big business, favorable talk about the
litigation with the johnson Company and u
fresh rumor about new contract with
some Eastern railway system, possibly the
Reading, which latter is preparing to equip
1ynv
money can buy. Friends Of tie stock are
talking % for it in the near future.
Electric second preferred was higher at
3sA bid. the strength coming from the East.
Par was bid for the first preferred, % for the
unassented and 81 for the scrip.
The weakness in tho unlisted fractions
was without explanation. as usual. At the
same time the talk of hetter things for them
was accompanied by hints Of n dividend on
Duquesne and P. B. next January.
The Markets Movements.
Philadelphia Company was in quite gen.
eral demand and ruled stronger ut 2l14 sales
and closed at 2l1%@al5s An odd lot of
Pleasant Valley sold at 25A at the first call,
but the final quotations were 25ss@251s.
Union Switch and Signal sold at ls and
p. & B. traction was weaker. 1t sold at 943s
after the second call. at 2415 at the third,
closed at 24A124ss and sold after the close at
2EG p, A. & NJ. traction was also inclined
to Weakness with sale at ~ and a close at
44ss bid.
Central traction was somewhat stronger; |
Citizens traction WAS little weaker; Under
ground Cable and United States Glass were |
strong; Noria moved up to l4QlSc: Luster |
was steady at a@e1z and Red Cloud was |
offered lower at IL. |
Two hundred shares of P. & W. common |
last call and Consignee Gold Gravel Min ing |
Company was offered at 60c.
Unlisted securities closed rs follows: p. & |
Traction s4@s DO o. oa fiat asked:
P, A. & NJ. traction, Az bid: do. 5s, lo217 bid.
Railroad News.
posToN. MASS. Oct. 27-It is recognized at
every hand that the new relations between |
the Boston and Maine and Reading systems |
nre OF the most powerful character and |
mean much more than is currently believed. |
The unknown quantity is the New York
Is gaining grou"d that in the position this
will occupy to Boston and |
Maine Mai -, and Reading the ADVANTAGES
A party thoroughly cognizant of
the deal between the Boston and Maine
and Reading when queried concerning the
roads. while declining to say specifically
Just how the road stands in connection with
its big neighbors, stated that there is but
Ge ahS rna5 M
fixed charges and the dividends on the pre-
ferred stock have purchased a controlling |
interest in the New York and New England
Railroad at price not exceeding So 500, goo. |
The interest on this sum at ~ per cent. is |
less than $l60 900 per annum, or nearly $50,
700 less per year than the dividend on the
preferred stock.
NEW YORK, Oct. 27-At q meeting at the
Reading Railroad office in this city to-day
,f the Eastern and Western coal sales
agents, it was decided to make the Novem-
Der allotment 5000, 900 tons, which is l,0O0.G00
ess than the allotment for the current
was voted down. President Mcleod, of the |
was ut the meeting. He said trade
vas good East and West, things are running
,moothly and he deemed it advisable to let
existing prices prevail for the present at all
events.
NEW YORK. Oct. GA meeting of the rep
OF the lines out of New York
md into Canada was held at the office OF the |
Pacific Railroad Company. Rates
covering wool. .moasses and tea were agreed
lpon to and from New York and Canadian
points east OF Toronto. Inequalities in
reight charges were adjusted and rates
we're put on an even basis.
Boston, Oct. 27-The New England traffic
managers meeting to-day was presided over
~ Chairman Midgley, of the Western
Freight Association. 1t was agreed to re-
toro rates November 20, the close of navi-
.ation. The schedule of rates to St. Paul,
dinn, Minneapolis and Duluth will then be |
IS follows: First-clnss, 81 30; second, 81 IL;
bird, 81 cents: fourth, So cents; fifth, 40
ents; sixth. ~ cents. And on the Sioux
inc and National dispatches as follows: First |
lass. 81 20; second, 81 0a: third. 81 cents:
a I