Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-06-12
A RAINBOW OF HOPE
Spans the Business Horizon, Presag-
ing Good Times Coming.
BIG REVENUE FOR PITTSBURG.
A Local Capitalist Dumps a Cool Hundred
Thousand Into Real Estate.
FUTURE OF JoHNsTowN AND SEATTLE

The hopeful feeling among business men
of all classes throughout the country is
largely due to the improved agricultural
prospects The reports from the crop growing
districts are of the most fattering descrip-
tion, and, to quote prominent railroad
President, SHOULD the promises which they
hold out be only fair there is no doubt that
the common carriers will have ample stuff to
move at reasonably remuneratiye rates.
With the Improvement of the general situa-
tion there is less talk of woe and disaster
than the country has been accustomed TO
during the past few months. The future' SO
far as it can be discerned, has no discourag1ng
features. 1t is gratifying to know that Pitts
burg is in good shape to take immediate adVan-
tage of the expected turn in the tide.
Referring to the proposed improvement OF
Diamond street, gentleman who has given
the subject much attention from every possible
point of view, remarked yesterday afternoon:
THE widening of the street would not cost the
city dollar. The expense would be PAID Dy
the property holders. 1t would increase the
value of the property on the street at least
81, 600 0O0 and add not far from $1,000 per an
mum to the revenue of the city. These, 1t seems
to me, are sufficient reasons why the work
should be undertaken. But, in addition, the
opening of the street would develop the
suburban and country trade which would be a
source of revenue to the city. All of this is
outside and beyond the fact that the improve
ment is needed for the comfort and con-
venience of the citizens. The way Councils is
dilly-daIlying over the matter makes me tired"
$%%
The destruction of the city of Seattle, Wash.
t. by tire promises to be a blessing in disguise,
as was the case with Chicago. President Har-
per, of the Bank of Pittsburg, said to THE
DISPATCH representative yesterday: Seattle
was built of wood, of which there are almost
inexhaustible supplies OF the best kinds in the
world in the immediate vicinity. Pine and
redwood were the kinds generally used. The
latter is a hard wood and is unequaled for in
side work Many of the buildings were mag
nifcent in SIZE style of architecture and finish.
The new city which will rise from the ruins OF
the old will be of brick. This will involve no
great difficulty, as clay of the finest quality is
abundant in that part of the Territory" Com
ing nearer home, Mr.. Harperremarked: "Johns-
town is one of our own children. That it will
be rebuilt there can be no doubt. The old town
had some disagreeable features which will no
doubt be remedied in the new. The recuper-
ative energies of our people are so great that
within five years. or probably less time. few
traces of the disaster will remain. The econom-
ical and intelligent expenditure of the money
now pouring in, together with what will be
done by the State, will soon transform the
hideous waste into place OF beauty, the abode
of large population, teeming with manifold
forms of industry"
To show that cal estate is attracting the at
tention of capitalists to an extent scarcely ever
before conceived of, Fourth avenue agent
said yesterday; II have just returned from 8
wild goose chase. went to see gentleman
who, to my knowledge, had 100000 of idle
money less than a month ago. / wanted to
place some of it on mortgage. He said he had
none LETT that it had all gone into real estate
in the city in amounts ranging from s., 900 to
$4,000, He added that he would have a fresh
supply of funds in q short time, and would then
accommodate me. If the mortgage business
keeps up am afraid home money will become
scarce and we will be compelled to draw from
the East. This is an alternative which those
who have thus far held aloof from this interest
snould carefully ponder"
The season has been rather unfavorable to
some kinds of vegetables, and a scarcity with
higher prices next winter is not improbable.
Potatoes have suffered the most, large per.
centage having either rotted in the ground or
been dwarfed by the cool, wet weather. II
have been looking into the prospects of the
potato CROP" remarked Liberty street COM
mission merchant yesterday, land find that it
is In bad condition. If the late planting turns
out no better than the first is doing they will
be scarce and high in price next fall and win
ter. Tomatoes are doing badly also and I
think consumers will have to pay more than
or 10 cents a can for them next season. Every
thing else in the vegetable line, SO far as have
observed, promises an average yield"