Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-08-24
A BUSINESS CHANCE.
Good Opening For a First-Class Hotel
in Williamsburg Borough.
NATURAL GAS COMPANIES SCORED,
Their Weakness Attributed to Causes Which
Should be Remedied.
PIrTsBURG A CREDITOR AMONG CITIES

There is good opening for a hotel at
Williamsburg. The borough is growing so
rapidly that existing accommodations are
wholly inadequate to the demand. There
are number of good sites for hotel, any
Of which could be purchased for a reason
able price. A first class hotel, with pleas
ant surroundings, would be largely patron
ized in the summer season, and the perma-
profitable in the winter.
A broker who is a conspicuous figure on
Change, in conversation yesterday evening,
had a crow to pick with the Philadelphia and
CHARTERS Gas companies He said: "Phila-
delphia going begging at 3611 and 81. Idon't
understand it. 1t ought to be one OF the strong
est and liveliest properties on Change, but, in
stead, is one of the dullest and weakest. am
aware that the company will soon lose some OF
Southside mill custom, but as that has never
been regarded as valuable. its withdrawal
should make no particular difference. The
loss ought to be more than made good by ex-
tensions to private houses. where better rates
are paid. think the trouble lies in misman-
agement, or rather desire to throw the COM
pany into the hands Of the ring. to do as they
please-squeezs the little fishes, for instance.
The trust scheme is proof of this to my mind.
of mismanagement, or wilful disregard of the
rights of stockholders. 1t ought to be paying
good dividends. Fixed charges, interest on
bonds and every other sort Of expense do not
approach the earnings by 40 or so per cent
Where does this money go? Who gets ir
These are questions that would like to have
answered. think both companies are run %
the interest Of a few and not for the many
new deal in the management is neededIa
lar h0rpiSlneSS.
would. in my opinion, bring the stock up to its
intrinsic value"
According to reports the old Dunkard town
ship oil field in Greene county is experiencing
a revival that is fast developing into 1rst-
class boom. This territory was first drilled In
1861 and operations lasted there until 1854. All
that time no casing was used by drillers a:d as
q consequence . number Of wells which pade
fair to be good producers were ruined by nre-
clay "cave-ins.' Since that time until recently
the territory has been dead, but now a number
of drillers are at work putting down wells In
the vicinity of the old holes. The Waynesburg
Company is drilling two. the Kanawha OH
Company and Tanner Turner three more.
while the Willow Grove Oil Company and
Guffey, Griffith & Domick are putting down
five wells. There are already five producing
wells in that locality, with total production OF
LOO barrels day.
An effort is being made to save the shade
trees on Wallace street, Williamsburg, which
will, it is to be hoped, prove successful. A few
days ago an article was printed in this depart
ment of THE DISPATCH showing how num-
Der of trees had been successfully transplanted
at Portland, Me. The article attracted the at
tention of members of the Williamsburg Coun-
Gil. and was discussed at the meeting Of that
body Thursday evening. The plan of removing
trees which was therein described was consid-
cred feasible. No action was taken, but the
feeling was strongly in favor Of saving the
trees.
Mr. Stewart member Of Council, remarked
yesterday: 1--WE have had several offers for re-
moving and saving the shade trees on Wallace
street. one as low as so tree. This is SO rea-
sonable that it will probably be accepted" 1t
may be added that If the question of saving or
destroying the trees.were submitted to a vote
of the citizens of the borough, the almost
unanimous voice would be, Save them"
eRs
A gentleman who frequents Fourth avenue
and handles large amounts of money, said yes
terday evening: ''The opinions of local bankers
on the money question. which appearedin THE
DISPATCH. struck the right key. There may
be little furry in the East, but Pittsburg and
the W est will scarcely feel it. 1t should be re
membered that Pittsburg is one of the few
creditor cities in the country. This brings
money here instead Of sending 1t away. and is
the reason why we suffered SO little in 1873 and
former panics A man who is not in debt and
has plenty of cash in his pockets has nothing
to fear from the ups and downs of the money
market Pittsburg is in that happy condition.
A letter from the Mexican capital speaks Of
faulty packing as the great drawback in seek
ing to introduce merchandise from the United
States. The writer says goods "are put up in
too large and too heavy packages, and when
we come to pay duty on the goods themselves
we find that we pay according to the gross
weight Of the packages and that very often
the weight of the box is four or five times
more than that of the goods contained in