Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-13

Quesne traction; an improved inquiry for P.
a.. 4 NJ. traction, the reaction in Central
traction and the CONTINUED weakness of Citi-
zens traction we're the features of the street
railway list. Dividend blk was again heard
on =. & B., and it was limited that the much
tallzed-of pool in DuQutsne were again get
ting ready to do businees; otherwise, news
and fresh gossip commanded premium.
Brokers Review.
A. J. Lawrence of A. ]. Lawrence & Co.,
writes to the patrons of the house as fol-
lows:
Political matters dominated the market
to a greater or less degree during the past
week. Such a tremendous upheaval as that
of Tuesday makes a revision of financial
forecasts necessary, and at no time this
year has more thought been given to the
probabilities res pecting business and values
than they have received since the election.
We nave endeavored to completely divest
ourselves of all sentimental influences in
analyzing the situation, and have been at
some pains to learn the views of representa-
tive bankers and business men. 1t is well
known that opinions expressed in the
privacy of the bank parlor and
those intended for the public ear, and our
canvass of the former makes this fact plain,
viz: that underlying the disappointment OF
the defeated and the jubilation of the VIC
tors there is a conviction that little change
is likely TO occur to affect business matters,
and that /! any is proposed it VIII come SO
gradually as to render the process of read
lustment almost 1mperceptlDle. 1t Mould
be idle to contend that in Western Penn
sylvania-one OF the greatest beneficfaries
OF protective tariff, and probably the
worst sufferer under free trade-there is not
less confidence in the future than had the
election resulted differently. Any depres-
sion that may ensue, however, VIII come
more from fear of what may happen than
from what actually takes place.
The effect OF uncertainty in business on
our stock market will tend to delay the up
ward movement which we expecte to see
fully under way before Thanksgiving Day.
The cliques interested in the various special
ties will not feel encouraged to enter upon
bull campaign under present conditions;
hence we do not look Tor more than fair
scalping trade for the next few weeks. In
first class investment stocks and bonds,
however, the indications favor steady i'm
provement In TACT, the most prominent
feature OF the market is that no check has
been placed upon the demand for bonds that
We noted last week. The natural tendency
of capital that was intended Tor new enter
prises, and which may now be held in abey-
ance pending clearer outlook, will be to
seek temporary employment in good bonds.
As the floating supply of the latter dimin-
lshes, atten tion will be turned to the better
class of dividend paying stocks. and from
these extend to those of more speculative
character.
During the past two days there has been
a decidedly better feeling. Airbrake has
advanced TO l3a, Birmingham traction to
24s1 and Duquesne traction to 2S92S1z, while
Pnlladelphia z Company has fully held its
own at 22@22Iz, and the selling pressure on
some of the inactive shares has been re-
moved In conclusion, we would say that
whatever propositions may come be-
fore Congress in the way of tariff revision,
it will be well to bear in mind that no
county in the United states is more richly
endowed with natural wealth and advant-
ages than Allegheny, and that Pittsburg-a
city originating more tonnage than New
Tork-will be able to look after its vast in
terests as well in the future as in the past"