Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-11
Total. g. 599, 256, 5s4 81, 5O6, IsI. ISS In. g
Local Securities.

Total. ST. 599 56 5s4 ST. 5c 49, ISS In ss3 l25 451
Local Securities.
For the five business days of the week the
trading on Change aggregated $3.50 shares
against 3,29S shares OF stock and S3O, 900
bonds for the six days of the previous week,
the shares most prominent in the trading
being the gasers, street railways and in
dustrials. The course of prices was upward
through hout, all the shares that declined last
week recovering most of the decline and
some OF them little more. The close was
strong at the highest excepting in one or
two instances. Comparing the closing bids
to-day with the final prices last week the
following changes are shown:
-iuUdgces-Philadelph Company, II; Gen.
tral Traction, q; Pleasant Valley, Il: West
inghouse Airbrake, ~: Union Switch and
Signal, ps; Allegheny Heating Company, /;
DUQuesne Traction, u; p. & b. Traction, IA;
Westinghouse Electric, ,unassented, i; do sec
ond preferred, 21s.
De,Iines-United States Glass, common, Il.
The strength and buoyancy of the list was
due mainly to the inherent worth of the
leaders and to the successful efforts OF ma
tional and State authorities in combining the
cholera to quarantine, which kept Wall
street IRON becoming panicky and spread
Ing an unfavoraOle sentiment to all points
more or less IN sympathy with the great
speculative center. The shadow of cholera
continued to hang over the general business
situation, but, in contrast to the feeling
prevalent last week, there was comparatf
cheerfulness and confidence, as the pub
lie WAS brought to an appreciation
OF the fact that there is wide difference be-
tween the shadow and the substance There
was no disDellins the indefinite fear that the
ureaueu sGourse would break away from its
confines, however, and but for this fear
there would undoubtedly have been more
marked Improvement, not only in stocks.
but in general business.
Aside from the influences mentioned a above
as governing the markets course the pas
shares, particularly Philadelphia Com pany,
were stimulated by continuance of the
good reports relative to the prospects for
an abundance of gas. and the leader
was also helped little, possibly by gossin
abCu5 an increase in its dividend rate next
week from TO or . per cent per annum.
until Thursday the writer believed the
directors would increase the rate, paving
either II or u per cent for the current
quarter, but on tnat day assurance came
from q source, semi-oflicial in its character,
that there would be no increase before the
last quarter OF this year, and possibly not
before the first quarter of next 1t is not
question OF ability; it is merely one of ad-
Visibility. Ii the directors do not increase
the tate at next Wednesdays meeting their
action will cause disappointment to many,
though 1t may possibly do the stock more
good than hurt. The sentiment among
stockholders, particularly those who were
tled up IN the stock at anywhere from par
down TO 30. is that the company should pay
out IN dividends all net earnings above
suihclent sum per annum to build up q
healthy surplus. and the views of this sum
range from Sl5GC to s5O9,C0O
AlrDrake was helped by the wonderfully
bulilsh showing of earning made at the
annual meeting, as well as by the intimation
IN these columns that the company would
likely pay 10 per cent for the
current quarter. Criticism of the policy
winch keens the annual report from the
public was mdul cd in to some extent. and
portion OF 1t was more vigorous than ele-
CANT, but as rule the belief obtained that
the report presented no vulnerable point
even to the most hypercritical HThe
trouble with tie company" remarks one
not particularly friendly to Mr.. Westing-
house, " Is that it has too many skeletons in
It's closet l. IL was in financial distress and
needed leor"anlzation, the public would
probably get u statement from A to T."
What Union Switch and Signal that NOR
curial and lreakish member of the indns
trial group, advanced on remains to he di:-
covered, though its friends claimed they
pany would win its suit against the John
ston switch and Signal Company for in
fringement.
WESTINGHOUSE Electric simply moved mn
in sort of Il natural reactionary way from
the decline of last week The East mada
the market, as usual, and there was nre.
snmptlVe evidence OF manipulation The
circulation of bull points by the East how
ever VAS not quite so persistent or reckless
ana TINS iact ctperhaps. gave little character
20 the recovery.
Ia the street rail- way shares no big features
developed. The demand was good through
out, particularly for DuQuesne Traction and
Pleasant valley, but 1t was not sufficient 60
cause more than fractional gains There
was further talk of big upward movement
to come in Duquesne, and to-day it was
whispered that p. & b. Traction and
T.. A NJ Traction were to he moved
up little by various clfques. One Of the
cniei supporters o. the two latter, who had