Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-23

month they were s5l,70o. 1t was also stated
that the October earnings of the 2. q B.
were running at tho rate OF $4,000 for the
month.
With the exception of Philadelphia Com
pany and Wheeling Gas the natural gas
group was strong. Philadelphia weak
ened on manipulation as much as anything
else and Wheeling Gas on the decline in the
price O oil. There were continued reports
producers of gas, but the Philadelphia Com
pany officials contended they had been o
great deal more fortunate in the fields this
year than last, and there was no doubt
they would have all the gas their household
consumers would need this winter. The ad-
vance in the price of gas was used rs a club
by the bears, but they did not accomplish
much. The most trustworthy opinion on
Philadelphia Company stock is to the erect
that the advance will prove very strong
bull factor. provided the first cold snap
demonstrates that the company has an
ample supply OF gas.
Industrials.
Trading in this group, like all others. was
moderate. but, with the exception OF a
softening tendency in Westinghouse Air
brake and Westinghouse Electric, it pre-
sented firmer front than the ethers. Union
Switch and Signal, Underground Cable and
United States Glass, both common and pre-
ferred, were prominently strong, and all the
talk current was of very Dullish cnar-
acter.
Luster Mining Company moved up sharply
under little demand for inside account,
and at the close it looked like going higher.
ABroker's Opinions.
A. J. Lawrence writes to the clientage of
A. j. Lawrence & Co. as follows:
"The Columbian celebration was an inter
ruption to stock trading, but it was also
revelation. If such. widespread interest is
tol- In &1na ol,,lA khA
what may we expect of the Fair itself, which
will attract the attention of thousands of
foreign visitors, as well as the millions at
home? The idea is suggested that the &C.
tivity in business, which has been noted the
past two weeks, is due to the probable ih-
crease N the demand for products which
will spring out of our great event. For in
stance. the commercial agencies report that
the textile and boot and shoe trades were
never moe active than at present; mills are
running night and day, and are still behind
with their orders. And why? because the
millions that will attend the fair will buy
more clothing and dress goods and footwear.
And the iron and steel trade ana the work
of building and repairing ana making ex-
tensions are all showing gratifying improve
ment, because raw materials must be car
ried to the mills and finished products dis
tributed to the 6500o,00O people who, all
over our broad and prosperous land, propose
to go pleasuring for six months OF the next
year. Now ali this industrial activity requires
surplus which is at the command of stock
traders and speculators is temporarily with
drawn In Pittsburg, especially, the rner-
chant and the manufacturer always have
the preference at the bankers discount win
dow, and in the East, where a vast amount
of securities is carried on call money, the
speculator is frequently forced to liquidate
his holdings. Again, when business activity
calls for the use of increased capital, it
often occurs that stock and bond invest
ments made during dull periods like last
summer are marketed as the readiest meth
od of obtaining funds. Consequently brokers
do not encourage free trading while these
has something to do with the hesitation in
our market for the present month.
ITO paraphrase an expression found in the
old-ti almanacs, however, We may say,
about this time look for a change in the
market We know that some influential
traders in Philadelphia Company. the
fractions, Air Brake, Switch and Signal
and Electric who made some very hand
some profits. the past summer, are closely
watching the course of affairs ready to go in
again and reap the profits which we feel
assured will be made on the long side be-
tween election day and New Years. About
the first of the year the banks should again
for the stock market and those vino would
take advantage of the coming advance must
be ready to anticipate it. In this connection
We believe the street railways will present
the most promising field,A and on any further
decline We believe these shares are a good
purchase.
LAS to the gas stocks, while the advance
Der ], will greatly increase net revenues, we
feel that the contradictory reports concern
ing the supply of gas make purchases at
these prices highly speculative"