Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-23
Local Securities.

So far as the market for local securities
was concerned the past week covered only
four days. the Exchange being closed yes
terday and to-day and business practically
suspended, but the volume of trading for
the four days was about as large as that of
tile six days of last week, the records being
2,755 shares of stock, s. OoO bonds and S4oS
worth of scrip this week and 200 shares
stock, SIS O9O bonds and $3.50 worth of scrip
last week. The most prominent character
istic of the market WAS weakness, but it can
not be said that the list suffered any ma
terial declines despite a lack OF
support and n disposition to hammer some
Of the leading shares. The comparative APP
Rthy witnessed was ascribed to the warming
up OF ma .ional politics, and the fact that it
WAS Columbus week, for which reason very
little interest was manifested in the market
rave by the small professional element who
generally operated on the selling side. The
changes of the week in the leading shares
We're mostly declines, the closing quotations
OF Thursday, compared with those of last
Saturday, showing the following results:
-idUdnces-Luster Mining Company, I6;
Allegheny Heating Company, 6.
Dec fneS-Philadelphia Company, *; Pleas
ant Nalley Railway. =: PittsDurg and Castle
Shannon Railroad, =: Union Switch and
Siynal, K: Westinghouse Airbrake, Il: Un-
der-roumd Cable a: Z. & B. Traction, Il; P,
A. NJ. Traction, "a
The fractions.
As affecting street railway shares tile most
important event of the week was the special
meeting Of the stockholders of the Pittsburg,
Allegheny and Manchester fTraction Com
pany, held Thursday, at which the capital
stock of the company was increased from
S. 600, 600 to So 600 OJ9 for the purpose of ab-
sorbiug the Pleasant Valley Traction and
the Allegheny Traction Company 1.-THE old
Transverse) and extending the PittsDurg
loop over Market street, Fourth avenue and
Wood street, etc. As stated at the time,
only l.So0 shares OF stock were voted
nGainst the increase, which practically
insures the success of the scheme
to consolidate the Northside roads into one
system, as the great bulk of the Pleasant
Valley stock has assented TO the proposition.
The remaining steps necessary to complete
the deal will be taken by the directors of the
two companies, though it is possible the at.
torney ol the Pleasant Valley Company may
advise that the stockho ders be called to-
gether TO formally ratify a lense of the road
Tor 999 years, which, is the manner I'm which
it will De gobbled by its fival. Under the
consolidation the old hoard OF Z. A. & NJ,
directors will stand and the four to lie
added to make the number nine will be
selected, according to gossip current to-day,
from Messrs. Henry, Graham, unter, Ober,
Grier and Stone. IL the latter is selected So
iIcitor, which is likely, he W i'll not be men,
Der of the board. As heretofore stated, Pres.
ident DIlzell, of the r., a. a NJ, is slated Tor
President OF the combine, Mr.. Henry for
General Manager, Mr.. Neeper for Secretary
and Mr. Ramsey or Treasurer
The new combine will have a capital of
citizens and $500, 900 smaller than tiIat of the
PItIsbr-rg-Duquesne system. Its bonded in
debtedne 5 will be s., $50, ,0o0 larger than the
Citizens ana about tile same as the Pitts
burg -DuQuesne. But the aggregate earnings
of the two Northsde roads are grearer
than those of either the Citizens or the
Pittsburk- DuQuesne. 1t has been pretty
clearly demon strated of late tnat the daily
receipts OF the =. 4. & NJ. and p, v are
So SEQ the former furnishing the biggest end
uf the returns. This means yearly gross
earnings OF 800. 1t is contendcd that
these systems, under one management can
and will be operated for SO per cent per
aEnum, or S{56, 80, leaving the same amount
for interest, dividends and wear and tear
To nav interest on the bonds will REQUIRE
Si37, $50 and TO nav per cent on the stock
win require $500 600 II total of S437 $50, which,
subtracaed from S45G 200, leaves SIS $50 to he
devoted to maintaining the physical cond-
tion of the system.
When the system is in perfect running
order tile rapid Transit facilities afforded
Northsiders will he more salts 'actory than
everas some of the routes will be shortened
There will be nine distinct routes-the
Union line, Rebecca street, Western avenue
Bellevue East street, Troy Hill. Perrysville,
Spring Garden avenue and the Allegheny
river line, and fully 100 cars will be in SER
vice.
Pleasant Valley railway was steady to
strong during thesweek. with the demand
excellent throughout. Sales of small lots oc-
Cured Today Mt 251a and there seemed to be
general inquiry for odd lots in 20 as to even
un in order TO trade properly for p. A. & NJ.
stock. T. V. stockholders get & stock divi-
dend in the proportion OF l ro7, and then
ihey trade their holdings Tor Manchester
stock in the proportion of to2.
All the street railway shares were inclined
to weakness, with the exceptions of Pleas
ant Valley and Pitts0urg, but the declines
Fere barren of special significance.
Twas stated to-day tnat the September
a rninps of tile Citizens Traction Company
were $3.50, and that sp to the elst OF this