Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-28
cal Securities.

trading on Change during the week ae
gregated $3.50 shares stock and saS 900 bopds
The tendency of all values was upward un
til the closing days, when a reaction set i,
IN some OF the shares that mad advanced
second pre- erred and Peoples Ptpeage, ant
the general upward tendency was checked
by disposition to take profits. The reac
Standard Underground Gable, Air Air
bra 6Daks s;vrsI and r,,ap possibly Union Switch
price Tor the week, however, and to MANY il
had droopy look at the finish What the
stock has advanced on remains to be dis
covered Its dividend prospects are some.
what clouded, to say the least, and while
the companv's condition has improved ma.
ter1ally during the past year SO, it is not
known thatit has improved Sufficiently to
Justify current prices Until the pre-
TERED stock receives dividend the COM
mon must be rated high at any price up in
6ngsresi the teens. The The friends of the stock,
believe the company will soon
have its head above water: that one of the
results of the railroad strikes will be a
largely increased use of automatic appli.
ances, which will throw business its way.
that the company is already dong better
than ever be ore in its history, and that the
prospects justify a steady upward. move
ment IN the stock. The more enthusiastic
year
less neglected, though there was a little
spaslnodic trading in p. & b. Traction, Gem
TTai T traction, Pittshurg Traction, p, A. & NJ.
latter sold rather heavily. to-day
at 257a buyer-40 and 255f regular, with some
promise of an active movement during the
coming week. There also appears to be a
prospect OF early activity in Duquesne and
7. & B. fractions, and if there is, it will
doubtless extend to the other members OF
the group.
Gas shares closed wifi, pao,,o,.
drifting downward, Philadelphia Company
steady to strong a half point below its hest
price, CHARTERS Valley strong and higher
and the Others generally firm and un-
changed. Regarding the future course of
the gassers. best opinion outside of the
street 1nclnes to a belief in higher prices.
In the street opinion is about equally di
vided between a belief that prices will he
higher, that they are already high enouuh
We believe they will be higher and that
fnlladeIphla Company will lead the way.
Westinghouse eotric.
Boston and New York made the market
Tor Westinghouse Electric. They run it I'M
sharply in the wake of General Electric bnt
it broke yesterday and to-day on sales TO
realize profits. The Boston friends of the
company claim there was no manipulation.
that the stock advanced solely on its merits
ana that 1t IS gopd or par at least in the |
near uture. Pittsburg was also quite bulI.
lsn on IT. ana predictions were made to-day |
-unaccompanied by a bill of particulars
however-that the secopd preferred wouId
60 10 GU before Christmas
Inc Boston papers have been filled with
DullIsh talk on the stock and Ii has been
faithfully reproduced in this city Tho
most recent bull argument from the East
is presented by the Boston Gazette and isa |
tpIIows: !G Inc general idea that the rise in
the prices OF Westinghouse Electric shares |
is due entirely to skillful manipula tion is |
not admitted by friends of the COMPANY.
mat there is large speculative interest in |
IC of ,s.~Sl1 1
That this rests upon substantial basis and
there seems to be no doubt that since the
Ieorganlzation the affairs of the companv
nave improved decidedly. The amount of
business doing undoubtedly is great and |
there seems no reason to doubt that this |
business is profitable and bears every nrom. |
se OF continuance. 1t is understood that
the business for the month Of AUGUST
was about S75O,OOO. The amount
1f preferred ock outstanding is |
=, 400 eOO, and common $1,000, ,OoO OF
his Si, OO,OOO Is held as an asset in { e tress
Try. The preferred stock is entitled to ner ,
cent, requiring something under $4,000 for
lividends; it would take therefore 500 0oO
lnly to pay per cent on the capital stock,
both common and preferred. The earnings.
t is asserted. conservativeIy can be placed /,
i IS 600 O1O gross per year, and net at ST. $780,
OO These figures are based on the rate of
BUSINESS which the company is doing now | ,
)f course the amounts for the current e calen |
lar year will not equal the above. This | s
mount of SIS 0oO0 is applicable directly to
ne STOCK QlTlGenus, as there are no bonds | 4
II debt ahead of the preferred stock Ac-
ordingly the company appears to be | {
arnlng about l5 per cent on the en-
ire capital stock. The old stock sold at Z
6S; this was assessed 40 per cent which | \
'as turned into the treasury and put ont
$ preferred stock, being underwritten at so, | r
10 THIS at tile time of the Barring failure, v
hen the financial situation was most grave Z
feailzed par to the company. When it is
onsluered what the basis of the old stock | Il
as, ana tnat 40 per cent has been added to 2
le value, the present figures are not DO a. s