Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-05-26
STILL IN THE FRONT.
Important Real Estate Deals and a
RumOr Involving a Big Farm.
HALF A HUNDRED NEW BUILDINGS.
A Square offer to Those Directing to Dia-
mond Street Improvement.
GAINS OVER LAST YEAR

There was nothing in the business situ-
alton last week to require special notice.
Trading in all the leading commodities was
! of good volume. In the speculative mar
kets stocks were dull and prices slightly
shaded. The sales aggregated s,S97 shares.
Petroleum put on burst of activity and
moved on higher level of values. 1t closed
steady. Sales of iron were fair, but prices
were still unsatisfactory. Business in mort
cages fell off somewhat as compared with
previous weeks. The number placed on
record was 1s4. representing 1921, ,000 The
largest was for S., 900, placed yesterday.
Real estate was active. Several important
deals were closed up. The number of trans
fers recorded was 247, and the amount of
money involved S599.lsS. The prospect is for
good trade all summer and a boom in the fall.
There was a report on Fourth avenue yester-
day that the McKelvy farm, above Edgewood,
had been sold to a syndicate of East Enders for
about 5000 an acre. Nobody seemed to know
anything definite about it, but some were dis
posed to think there was good foundation for
the report, as the property has several times
recently been mentioned in connection with
deal of some kind. 1t is well located, con-
venient to both Edgewood and Swissvale, and
If sub-divided and put on the market it would
no doubt be quickly bought up. The tract con-
tains so or 60 acres.
There was an encouraging degree of activity
in the building trade last week The number
of permits taken out was 56. The total cost of
the houses is estimated at Sl49,6S The largest
permit was issued to the st. Augustine Church
congregation for a two-story brick Building to
cost SIS, 800. The next largest was taken out by
Mrs Calvin for five twostory brick houses on
Poplar alley, near Elm street, in the Seventh
ward. As usual, the majority of the permits
were for dwellings There is no doubt that
Pittsburg is growing
The feeling in favor of widening Diamond
street is making good headway. notwthstand-
ing the objections Of q few of the property
holders. Those who affect to think that the
proposed improvement would ruin them can
sell Immediately, for cash. at 80 per cent more
than their property was worth so days ago, by
calling on Black & Baird, Fourth avenue. This
offer will hold good long enough TO permit all
objectors to avail themselves of its terms. A
proposition SO broad and fair. and involving so
much money, could be made only on the as
sumption well founded in this case, that the
improvement would more than double values
on the thoroughfare in question. 1t is the
strongest argument the wideners have brought
to bear upon the subject When money talks,
people listen.
Within few days there has been quite a re-
vival in the real estate market, sales being
almost as numerous as at any previous time
this season. This is no doubt due to the
abundance of idle capital, for which the own
ers can find no other equally safe and profit
able investment. Money thus placed can be
made available almost any time, and nearly
always at a handsome gain All resales re-
Gently made have been at an advance over the
original price. The demand is confined to no
particular section, but extends to both cities
and suburbs, and embraces all descriptions of
property-unimproved tracts having the call.
A countryman standing at the corner of Fifth
avenue and Smithfeld street yesterday re-
marked: "Those cabs look well. If knew
what it costs to ride an hour or two in one of
them believe would engage one and see the |
city. don't like to trust the price to the |
driver; he would very likely make it pretty |
Steep" This was business. and the hint should |
be taken by the cab owners. If the price per
trip, hour and day were conspicuously posted |
on some portion of the vehicle so that it could !
be seen and read by everybody it would be a |
great benefit to the: public, strangers espe-
cially, who have holy horror of Jehus, and |
W0ulQ no QOuDt QIaW custom. AS q business |
suggestion it is sufficiently important to be |
given trial.
Two or three weeks ago it was stated in this |
department Of The DISPATCH that an import |
ant sale of real estate had just occurred, and |
the property was described as situated on q |
hill between the two rivers.". 1t turns out to |
have been what is known as Ruch's Hill, and |
comprises about IS acres The prce paid was |
he nhaoa 4
It is rich in clay of a fine quality, which the
new owners will use for brick-making, after
which the land will be subdivided and put on
the market. The deal was made through the |
firm of Black & Baird.