Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-02


Philadelphia Company was "pinching" the
supply in order to make it appear that IL
did not have the gas with which Co IulnIl
their contract with the Carnegie mills. II
there was any basis for such an 1nt1mat1on
it should now develop in the shape OF
largely increased pressure In the mains,
even should the mills mentioned continue
to patronize the company. 1t Is likely, now
ever. that an Increased pressure can now be
witnessed, as the usual summer ana iall
contracts with q number OF manufacturing
establishments expired yesterday.
The court records to-day showed that the
cross suits had been discontinued, thus
proving the truth of the reported compro-
mise; but the parties to 1t aver that the
terms have not yet been correctly stated,
anent. 1t is generally believed and accepted
as satisfactory, however, that the Philadel-
phia Company gets rid OF the contract ana
also gets about Sl5O,ooO. Ine court recorus
say that the suits were discontinued, with
the costs payable by the Carnegie interests
Beyond the trading in and course OF Ph1la-
delphia Company there was very little in
traction between calls at %, the stock clos
ing at 29% asked. The general tone OF the
market was q weak one.
Citizens traction 5s were quoted at los bid
and Pittsburg traction IS ut 104 bid.
Unlisted street railway quotations: Du.
,uuesne traction, 27@2715: do. 6s, 10214 asked;
T. & b. traction. 241z@345s: do. IS, 100 asked;
p, A. & NJ. traction, A asked.
A Plate Glass COmD1ne.
Talk was heard to-day TO the effect that
the plate glass manufacturers throughout
the country had about concluded to COM
bine their interests. A well-attended meet
ing of people was recently held in this city,
at which the matter was rather exhaustive
Iy discussed, but no definite conclusion was
arrived at. 1t was stated to-day, however,
that it had since been determined that the
trade had reached such condition that
N nf intarQgEa
necessary, and that it would probably be
effected in the near future.
Against Anti-Option Legislation.
At a special meeting of the Board of Man
ayers of the Grain and Flour Exchange to
consider the anti-option measures now
pending in Congress, and which will doubt
less be considered during the coming ses-
sion, it was found to be the opinion of the
board that the ena ction of any such legisla-
tion would be injurious to trade, ,disorganize
methods which have existed Tor 80 years or
more and depress prices & Of nearly nearly al com %
bodied in paper which Will be presented to
the Exchange, and If it meets with approval
it will be forwarded to washington 70 pc
The principal points of the paper are as fol-
lows: 1.-THE seller of futures is the offspring
of the modern facilities for transacting busi-
ness. 1t is only in highly equipped market,
with its crop reports, its telegraph systems,
banks. brokers and railroads that he could
live. and market so highly organized could
not exist without him. If the buyer helps
the farmer the seller helps the consumer,
and in the world of traffic the bread
eater Is as good man as the bread
producer. 1t is a stubborn fact that in
determining prices on the boards OF trade
and exchanges both sides must be repre-
sented. There cannot be cash sellers with
out cash buyers; there cannot be sellers OF
futures without buyers of futures; there
cam OF be prices made and crops raised and
moved without both, and without all these
there could be neither boards OF trade nor
do not believe that business OF any kind is
in need of any kind of legislation.
Financial Notes.
The board OF directors of the Westing.
house Electric and Manufacturing Company
has declared the semi-annual dividend of
3% per cent on the preferred stock, payable
January 3 next. Transfer books close De-
cember 20 and reopen january
William K Meyers and Edgar L. King,
Auditors of the American Life Insurance
Company OF Philadelphia, will distribute
the funds l. the hands of the receiver on
December 8.
A New York telegram says: The interest
on the S., ,l40 900 East Tennessee, Virginia
and Georgia first extension per cents due
and Fink failed to deposit the necessary
funds with the Chase National Bank, the
company's fiscal agents.
The Delaware and Hudson Canal Company
has declared its usual quarterly dividend of
lA per cent payable December lb
The statement OF the Norfolk and western
Railroad Company Tor October, 1888, shows
gross earnings OF Ss42, S6G @ expenses. S0lo,oll,
leaving net earnings of 1926. .S56.
Chartered to-day: The Crescent Land and
Improvement Company, of Pittsburg: capi-
tai, SS, ,O00 Samuel Kelly Is treasurer. The
Speciality Manufacturing Company, of Titus
vile; capital, s25, ,0Oo. The Fort Pitt Land
Company, OF Allegheny capital, SO, 900;
Harvey II. Grunder is treasurer.
Representative John G. Haskell, of South
Carolina, has introduced in the House q
foint resolution providing that inasmuch
as it has been found impossible to dispose
of the new State bonds on satisfactory
terms, and as it Is the intention of the State
to meet every obligation and let no creditor
suffer, that the State Treasurer publish in
the South Carolina and New York papers q
notice that all bonds which are not met at
tended for four years at the same rate Of
interest they now bear.
From Sproul & Co.'S market letter: "The
silver situation is still the most disturbing
factor in the general outlook, the probable
failure of ths Brussels conference-to accom-
plish any results leading to very depressed
Westinghouse Electric second preferred
rallied little in Boston to-day, closing at
| 351l@36,
Messrs. Ramsey, Hill Co. and Watt were
| the sellers Of Phillie to-day and Long, Law.
| renee & Co., Stovey and McCutcheon the
| buyers.
| ton to Sproul & Co.
The Enterprise Mining Company directors
| yesterday declared the regular monthly
| dividend of $4,000.
| Ameeting OF some of the leading spirits
| in the Northside Street Railway deal was
| held this afternoon, but it was stated that
nothing OF importance was done.
Engineers said to be employed by the Gen.
| eral Electric Company will start soon to in
| vestigate tile position of the Chicago and St
| Louis electric railway enterprise. 1t has
| been decided to build u two instead of a four
| track road. The Merchants Bridge and
| Ornamental Company. Of st. Louis, and the
| Chicago Alley Elevated Railroad Company
/ are interested and will furnish terminals In
| the respective cities. The original plan
| provided for a boulevard on either side OF
| the line and the distribution of electricity
| for lighting and power purposes. Thii
| "caughtn the farming community and the
| entire right OF way was In consequence
| secured at little or no cost.
Sales and Final Quotations.
Following were the transactions recorded
on the Exchange sales board to-day
FIRST CALL.
100 shares Philadelphia Company 1sL
100 shares Philadelphia Company 19L
atx-rA Ali, NOr1rr ma