Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-26
A LIGHTNING DEAL.
How a Real Estate Owner Was Cor
nered by Hustling Agent.
ELECTRICITY In THE SUBURBS.
Steel Advances at Glasgow on Reported
Failure of Natural Gas.
WHAT THE WORD LIMITED SIGNIFIES

WHAT THE WORD LIMITED SIGNIFIES
Owners of real estate, when they want to
sell, pursue the same policy as people in
other lines of business. They want all thev
can get for their property. Sometimes, when
they hesitate about selling, the offer of a
large price, much more than they expected,
quickly brings them to terms. A case of
this kind occurred in the lower part of the
city short time ago.
a Fourth avenue agent received COM
mission to buy certain piece of business
property not far from Market street. 1rwas
badly wanted by the gentleman giving the
order, and he was not particular about the
price. The property was worth, in the
usual way. $4,000 or $4,000 The agent
offered the latter price for it, but the owner
refused to let it go at that figure, saying he
didn't want to sell. In a few days the agent
called again, but the owner adhered to his
former conclusion. This put the agent on his
| mettle, and he determined to make a trade
somehow
You say you don't want to sell, }" he remarked
| TO the owner. Nov if some one would come
| along and offer you fancy price, away above
what you hold the property at, what would you
do?'
"oh. in that case would let it go. But
hardly think there is anv one fool enough to
offer me. say, $4,000 for property that isn't
| really worth more than the half of it as it
! stands"
win you take $4,000 for itr' asked the
agent.
Certainly I will, if anybody is idiot enough
to offer it, replied the owner.
Il will take it." snapped the agent
And. determined not to give the owner
chance to change his mind, the agent sat down
there and then, examined the title, made out
the papers, had them signed and handed the
seller check for the money. He has been
| lamentiug ever since that he didn't ask more.
The property has been improved by the pur-
chaser, and is now worth probably twice as
| much as he paid for it.
This Napoleonic style of dealing is not recon-
| mended for general adoption, for it has its
drawbacks, but it certainly worked well in the
case in question.
Sewickley, Williamsburg, Edgewood and per-
haps other towns in the vicinity of Pittsburg
are enjoying the luxury of electric light, and
from all indications it is giving satisfaction to
the citizens. This brings to view a fact hitherto
not publicly noticed, the general movement
among small towns in this end of the State to
secure electric lighting. At present quite
number OF bo roughs surrounding Pittsburg
are discussing the feasibility of getting the
new light at a cost proportionate to their small
population.
The American Manufacturer takes consider
able stock in the staying powers of natural gas
1t says: Through private cable received in
Pittsburg on Tuesday, we learn that there has
been considerable excitement in Glasgow over
the rumor that natural gas had given out inPitts-
burg, and as a consequence, the price of steel
was advancing in that city. II seems almost
past belief that sensible people, who have paid
the least attention to the question of the sup
ply Of natural gas, can credit any such absurd
stories. While there can be no doubt that ulti-
mately the supply of gas will be exhausted, or
will become so small in volume as to make it
necessary to secure other fuel for large opera
tions. there is no immediate prospect of any
such exhaustion.
THE strongest wells that have ever been
struck in the neighborhood Of Pittsburg. posi-
bly, the strongest wells yet found in the United
States, are those Of the comparatively recently
opened Belleyernon district, while the volume
of gas that is being produced in the various
Washington, Murraysville and other districts
in the immediate vicinity Of these show, as yet,
no signs of diminution."
The present condition of the Connellsville
coke trade may be said to be the best in the
history of the region, but on account of the
scarcity of cars some of the works throughout
the region made but four or i've DAYS the past
week. 1t is expected, however, that with the
number of individual cars now being built the
operators will be enabled to catch up with
orders before long. The shipments for the
Wnak ending hav F,1l
5000 cars had the means of transportation been
adequate, but for lack of shipping facilities
$500 cars Of coke were stocked in the yards.
Many works are unable to draw, on account of
this accumulation.
1t has become somewhat common nowadays
to see the word limited" in parenthesis after
the titles of corporations, and it is safe to say
that people generally do not understand the
significance of this term, though, of course.
business men do. The old principle of corpora
tions created by legislative act was that the en-
tire property of every stockholder was liable
for the whole of the company, as the whole
property of every member of general partner
ship is still liable for. the debts of the firm.
This system made every shareholder RESPONSE
BILE for bad management of which he might not
be guilty, and deferred wealthy men from be-
To remove this objection the principle of
limited responsibility was introduced, and in
order to notify the public that only the sep-
arate property of the corporation was liable for
the debts of the corporation, the English law |
requires that the word Limited" shall be used |
in every case by the company in connection
with its title.
Further talk of developing the Cheat river |
coal fields has been caused by the recent pur- |
chase of 1000 acres of land In Springfield |
county, w. Va, by Walter Laughed. of |
Uniontown. Pa. 1t is said that coke ovens are |
to be built on the property. Mr.. Laughed |
states that he made the purchase for Eastern |
capitalists The general opinion among Con-
nellsville coke producers is that there will be |
no definite move in the near future to make
developments in the field mentioned.
The Real Estate Record and Business Guide
remarks, and its meaning is plain: Those who
argue that prices of real estate in the business
portion of the city and directly on lines of com.
munication have reached their limit are re.
ferred 70 the prices ruling in other cities in SIM
ilarly favored localities. This is subject that
must be considered apart from suburban
values, and without reference to the valuation
Of the property in request by the buyers of
horne sites. When the volume of trade and
facilities presented in the business localities are
borne in mind, and values compared with those
recognized in other large cities the impression
that values have reached their limit will prob
ably yield, and the conclusion that thev must |
increase in Pittsburg just as they have done
elsewhere will be admitted"
80