Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-03
A FEW MORE LOSSES
Followed by Reactionary Ten
dency in Some of the Shares.
EASTERN ADVICES MORE PACIFIC.
A General Disposition Manifested to
Await Developments
LOCAL AND GENERAL FINANCIAL NEWS
LOCAL AND GENERAL FINANCIAL NEWS
FRIDAY. Sent. 2

| IL was not marked untll late III tne
day when the list sagged under
a savage attack upon the Coalers on a re-
port that open warfare between the Penn
sylvania and Reading Railroads was immi-
nent. In Chicago the feeling was decidedly
weak, and nearly everything traded in on
the Board OF Trade scored substantial de-
clines.
The market for local securities displayed
slight reactionsry tendency, for which the
more pac ifc Eastern advices and the cessa-
tion of short and realizing sales were re-
sponsible. Some prices were lower, how;
ever, Notwithstanding there was no special
pressure to sell. and few advanced
slightly above the previous close without
showing any particular strength. The gen-
eral disposition was to hold of and await de-
| velopments, and this disposition Is likely to
be accentuated tomorrow Saturday. in
view of the act that alter the close at noon
trading is resumed. The weak stocks, or
rather the stocks that ere lower, were Gen.
trail Traction. Duquesne Traction, Pleasant
Valley Railway, P. B. Traction, Under
| ground Gable and Airbrake though Du-
| Quesne, after selling down, reacted to about
the close of Thursday. Gas shares were
steady Switch and Signal WAS firm, Elec-
trio second preferred recovered point or
| so, and others were steadv and unchanged.
There was no trading in Electric, put it was
| bid up to IS here, against a close yesterday
at "a asked: and in Boston the close was at
| 3515@36 after sales at &c. AT the close the
general feeling seemed to be that there
u
| week barring unfavorable developments.
Course of Prices.
Airbrake. Philadelphia Company, Central
| Traction, Duquesne Traction stock and
bonds, Pleasant Valley and P. & B. Ira ction
| were the only items traded in at the calls.
| Afrbrake sold at 1884, closing Mt 135 asked;
Philadelphia Company sold at 2lk early and
ruled steady thereafter at 2l13 bid: Duquesne
| Traction sold down to %. recovering and
1a1xN n
sold down to 2s1& closing at 2ssS@29: Pleasant
| Valley sold at 25 closing at 25@25ss; 2. 4 b.
Traction opened at 25A sales, advanced TO
| parently strong at 255z026. Duquesne Trac-
tion IS scld at 10O1s and interest.
Underrround Cable was offered at 79,
previous report j. is possible to buy the
| stock below 79. Union Switch and Signal
| opened below II bid, but the close was fairly
strong at I@l7A under pretty we'll dis
| tributed demand. For unassen led Electric
Is was bid; La Noria declined to 13c asked;
Luster went through the usual ground and
quoted at l5AGl6; Manufacturers Gas was
slis htly easier at 26@2s3a; P, y. & NJ. Trac-
tion was offered at Aand others were utterly
The drop in P & B. Traction attracted
some comment, but aside from a little talk
about falling off in earnings and little
prospect OF a dividend within the year, no
explanation of 1t was obtafnable. It did not
decline any more than Duquesae. however,
and its break may properly be considered
sympathetic one. The demand for it at the
decline was good.
The sale OF Airbrake at 1874 did not surprise
anyone as it was known that one or two
small lots had been quietly offering at that
price for two or three davs
The decline in La Noria to 13c asked and
the Offering of Mo:olina at Soc indicates, to
say the least, lack of confidence in the
value OF the mines the Mexicans deserted
years ago.
Deacon Whites Views.
In conversation with a representative of
the Boston News Bureau Mr.. S. Y. White |
said Conditions are all right and there |
will be no cholera in this country this year. |
The disease is not indigenous with US and so |
many precautions have been taken, to say |
nothing OF those that will be taken in the |
immediate future, that it will not gain |
foothold here. But l wish to mako one |
point in this connection which think is i'm |
portant. The effect of the scare will be to |
keep Americans at home next spring, so that |
SIS 600, 100 of gold left by them in Europe |
every summer will be saved to this country. |
"As to the corn crop, it has undoubtedly |
been damaged, but that is no misfortune in
view of the large surplus. Over-production
is not desirable, as may be seen by a glance
at the South, where superabundance has
resulted in depression.
'Some people cannot understand how
others can buy thing and keep it for its
which time, where the merit exists, usually
brings. The TACT is, the large owners OF |,
Sugar are not selling. They are holding on
because earnings and dividends are large
The certificates given for the Knight,
Spreckels ana Harrison -FraZ Zier plants are
still held by those interests because their
owners know the great value of them.
Su2ar is worth 150 and 1t will sell there
eventually.
Financial Notes.
P.& B. Traction closed at 25sI@e6. Du.
quesne traction at 2s15@29 and P, A & NJ.
traction at A asked.
Pittsburg traction 5s were offered at l071&,
900 shares Motolfna were offered at Soc per
share and Standard Plate Glass was quoted
at 40Q55 and Natatorium at 75@lO0.
Central Traction was offered at 2s% after
the close and P. & b. Traction at 25L
RineharJ sold Airbrake to Krhn bros.
Rea Bros. & Co. sold Philadelphia Com
pany to Morris Brown and sproul Co;
Central Traction and Pleasant Valley
were sold Dy R1nehart and bought by
Sproul & Co., Adams, Caster and Long.
The sellers of P. & B. Traction were Long
r. j. Stoney, Jr.. and A. j. Lawrence & Co.
Hill 6 Co. sold Duquesne 5s to Patterson.
Airbrake waS offered on the street after
Sales of Underground Cable have re-
Gently occurred, tits said, at 7s1a.
Postal Telegraph stock has now advanced
the Great Northwestern Telegraph Com
pany. so it is said. The advance OF Postal
stock from 5)a short time agogives evidence
|
in the sha pc of dividends or some big DEAL
A Philadelphia banker is quoted as saying
that the time is not 1ar distant when rail-
road circles will be startled by the an
nouncement of the consolidation of the
Reading and Vanderbilt systems.
charter was granted to-day to the Yer
sailles Traction Company, of NJ H.esI sc,
to run from McKeesport to Cherry lane,
along several public and township roads;
capital stock, sls.SSSSs. W. c. Sale ia Presi-
II. Sikes A. B. Campbell, A. R. Hay, S. NJ.
Bowman and Frank Thomson.
The following official statement is fur
nished by the officers OF the Pittsburg,
Youngstown and Ashtabua Railroad Com
panY of the financial condition of the COM
pany on the 3Oth day OF June, 1892: Six
months net earnings in 1892. $273,2I9: six
months interest on bonds, $9I, 800, and six
months dividends on preferred and COM
mon stocks. 500 S5o-s194, $50; June 80, 1892,
account, SIS, SOS; December 81, 1891, balance to
credit of profit and loss account $521 07S;
making credit to profit ard lose account on
June 80, 1892. $780, represented by cash on
hand, $379,0is. and betterments TO property,
$40 997.
The extension OF the Baltimore and Ohio
from Athens to Buchtel, o., is rapidly near
ing completion, and will be in use before the :
close of the year. 1t will enable the line to
reach the heart of the mining region of the
Columbus and Hooking Valley Coal and
Iron Company. The Baltimore and Ohio
has heretofore handled about 10 per cent of
the total output OF the valley, most of which
was handed over to it by other roads Tor
Coal and Iron Company its Lake Erie docks
at Sandusky, O.,under O long lease. Negotia-
tions are going on among the Hooking Val
ley coal companies which aim for an in
creased price Tor their product.
sales and Final Quotations.