Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-03

it Is a "thank YOU job and they are not par.
ticularly anxious for it. 1t takes time, and
time is money, especially with the brokers
Movements on Change.
Westinghouse Electric second preferred
sold at 80 at the first board and closed
offered at 80. Pittsburg traction sold at 50,
and the closing quotations were 5s@59. An
odd lot of Union switch and Signal pre-
ferred sold at IS, the stock closing at 3715@
80. Pleasant Valley sold at 25ss, closing at
25h asked. p, A. & NJ. traction sold at M
@45 on call, the outside price for two shares,
the closing bid was 435S Central traction
sold at So closing at 2913 bid; small lot OF
Airbrake sold at 49,, and after the close
Electric scrip sold at "a, with the same
price bid for more.
Peoples Pipeage was fractionally firmer.
but Philadelphia Company, under a little
Offering. lost fraction of the gain of the
past few days. Underground Gable and
United States Glass continued to show
strength. La Noria was higher and Luster
easier. and others were unchanged.
Unlisted street railway securities closed as
follows: Duquesne traction, 27A bid: do: 5s.
100 asked ex-interest; P. & B. traction, eS54
2414: do s.. 100 asked eX-interest; r. A. & Al.
traction, 1871 bid; do. IS. l03 asked.
Exchange Diversions.
Politics run neck aud neck with business
on 'Cnange, if, indeed, more interest was
not manifested in the former than the lat
ter. Harrison money was abundant, but the
supporters OF Mr.. Cleveland had either
already "put up'' to the extent of their
ability, or else they felt less sanguine of til e
success of their favorite than they did u
few days ago, for none of the Harrison
money was covered.
in Councils in the matter of the Bellefeld
street railway ordinance has evidently en-
bittered the friends OF Central against the
Duquesne people. The latter were charged
xxrif vrio olaf of re nd ,fcac
and wagers were offered that their road had
not made q dollar since it commenced
operations: that it would not pay divi-
dend as soon as some people expected, and
that it was mo good" on general principles
anyhow. Friends of Duquesne offered to
take some of the wagers, provided those
who offered them would prove their ability
to decide them satisfactorily. 1t was also
intimated that Central would shave the
law on" Councils ana the Bellefeld street
railway projectors.
The Election and the Trusts.
The effects of the election upon the So
called trust stocks seem to be q favorite
topic OF discussion just now in the various
bankers and brokers' offices. In some way
an impression seems to have gained ground
that Mr.. Cleveland's election means vigor-
GUS warfare against trusts With a view of
obtaining the opinion OF the people most
deeply interested on the subject, says the
Wall Street NeDs, several OF them have been
interviewed, and in substance they say;
The Sherman antitrust law is obligatory
in its provisions. Attorney General Mil
ler carefully investigated several of the
combinations, and the result was that
suits were brought In Boston against Distill-
ing and Cattle Feeding and in Philadelphia
against the American Sugar Refining Com
pany. Equally careful inyesti-, ,ation was
made in the case OF Cordage, and the Treas
ury agents reported that there was no
ground for suit and Attorney General Miller
brought no suit, because the Cord"ge COM
pany was not monopoly, but was pursuing
legitimate business. In the Whisky Trust
mad to be amended. In the Sugar case near
ings are going on before a Master, the
Sugar people being absolutely conf
dent that that their position is 1nassail.
General will do in case Mr.. Cleveland is
elected, no one can say. Mr.. Harrison's
Attorney General has brought suits against
certain of the ex-trusts; that is, companies
that were originally formed as trusts, but
were reorganized as regular corporations,
many OF them under the laws of New Jersey.
Under either administration the ex-trust
people are perfectly satisfied that thei, po-
sition is impregnable, except perhaps where
an absolute monopoly exists, and such ase
among listed industrials will be extremely
hard to find. The managers of the so-called
industrial stocks are confident that the elec-
tion will have no effect Whatever upon spec
ulatfon in this group of stocks, and profess
absolute Indifference as to the results
Foreign Financial.
LONDON, Nov. 2. - Amount of bullion
withdrawn from the Bank of England on
balance to-day, sl00,0OO, and is for shipment
to Russia.
PARIS, Nov. 2-Three per cent rentes, 99f
for the account.
LONDON. Nov. "A P. M.--Close-Consols for
money s r do for Deeem6er .nS account
fir.ts, 521s: Canadian Pacific, ss1s Erie,
215s do seconds, lO934; Illinois Central, l05;
Mexican ordinary, %; st. Paul common,
s3ss New IVY York sa9I Central, nls; pennsylvania,
II. Bar silver. S91sd. Money, " per cent.
Rate OF discount in the open market for
snort and three months bills, 8 per cent.
Financial Notes.
junction railroad 6s were quoted on
Change at III bid; Citizens traction 5s at l06
bid and Pittsburg traction 5s at l04 bid
Pittsburg traction was sold by Kuhn Bros
and bought by j. Barbour.
Long bought Pleasant Valley from j. j.
Campbell; Kuhn Bros. sold 2. A. & NJ. to
Sproul & Co. sold Central traction to Hill &
Co.
Andrew Caster sold Electric scrip to
Morris & Brown.
Lawrence& Co. bought Electric second pre-
ferred from j. b. Barbour.
The annual meeting OF the Fidelity Title
and Trust Company will be held on the 10th
inst.
The report of the American Cotton Oil
Company to be submitted at the annual
meeting tomorrow will show net profits Of
S. 600, 600, against 81, 322, 994 in 1891 or this
amount S775O00 was expended for repairs
and $225 900 covered into the sinking fund
After paying $500, 900 on the referred stock
there is l000,0 900 ior the common. No divi-
dend is expected on the common but m ore
bonds will be retired.
1t is announced that the balance of the
S5, 600 600 new Illinois Central stocknot taken
by the stockholders ut par has been sold to a
syndicate. Names Of the bankers and price
paid are withheld.
The New York Posts London cable to-day
says: One hundred thousand pounds in
gold went to Russia to-day, less than was
expected. The markets were quiet, pend
ing possible rise in the bank rate to-mor.
row, but exchanges sre now more favorable
to London.
The preferred stockholders of the Toledo,
st. Louis and Kansas City Railroad Company,
at a meeting in Boston to-day, passed reso-
lutions protesting against the placing of a
Sl8 500 000 mortgage on the property, and
against the calling for November il of a
OF the preferred stockholders in
the same room and at the same hour as a
of the common stockholders The
also protest against the manage
ment of the company, and express as the
sense of the meeting, that an examination
of the oom mpany's books and affairs should
be made in the Interests of the holders of its
securities.