Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-04-21
GROWLERS SET BACK.
An Array of Facts Showing That
Business is Brisk and Growing.
LAST YEAR LAID IN THE SHADE.
A Good Start Toward the Promised Four
Thousand New Buildings.
BIG IMPROVEMENTS AT TORRENs

If Pittsburg is not in the swim, where is
it? Even croakers begin to admit that there
is some movement in business circles. The
Clearing House figures tell story that
would be startling if found in work OF nc
ton, but being of sober truth its full sig
nifcance is likely to be overlooked. AS
everybody knows last week had only five
business days, Good Friday taking off one,
and yet the clearings rose to S13, ,935, 800 SO,
being daily average of 81, ,787, ,164 10, and
showing gain of s., 900 over Good Friday
weef Of last year. If this be stagnation, give
us more of it.
The Pennsylvania Railroad Company is
making some important improvements at the
cattle yards at Torrens. Broadway, which
| runs through the yards from the railroad to
the East End Hotel, has been made almost en-
tirely new. The old sheds have been torn
down and new and more substantial ones put
up. Other changes are in contemplation which
| will be completed in a few weeks. In about
Two months the stock yards will be virtually
new, and great deal better than ever before.
In this connecJi n it may be mentioned that
the railroad company proposes in short time
to abolish the stations at Torrens and Dallas
and erect very fine one at the Fifth avenue
crossing.
go
There was flrmer tone to the iron market
last week, caused mainly by orders from the
South, and while there was change in prices,
makers were encouraged to hold out for full
rates. and were hopeful that the situation
would soon improve sufficiently to justify an
advance. That the market was getting in bet
ter shape was shown by refusals to fill orders
for future delivery at current rates. The Lima
l1n nnt
in petroleum circles, and prices broke badly.
Some of the brokers claimed that Lima oil had
nothing to do with the break, but the fact that
the story and the slump came together was
good enough evidence that Lima was the dis
turbing factor. Stocks were active and gener-
ally strong, closing near the best prices. Money
was in better demand, and discount rates were
firm. All in all, the business of the week
showed gratifying improvement over that of
its predecessor, the volume of transactions be-
ing larger and prices steadler.
The stone work for the new buildings on
Diamond street is being pushed with such
vigor that week or ten days will see it COM
pleted Every stone laid and every trowelful
of mortar emptied adds to the expense of
widening the street. Friends of the improve
ment should be up and doing
Penn avenue, Williamsburg, on which stands
one of the oldest buildings in the county-a
genuine log cabin that was set up about so
years ago. They will, during the summer,
erect fine business house on the lot. The
price paid was not far from 81 800. Six lots in
the borough changed hands last week, ranging
in price from the figures above given to S400
Unimproved property is becoming very scarce
in that locality.
Building operations are going forward with
alacrity. Already this year permits for nearly
800 houses have been taken out Fifty-f1ve
were taken out last week, about 40 of which
were for dwellings, the cost of all being placed
at SlO6,4 ,4s0 This is good showing, when it is
considered that the building season has only
fairly set in. There is no longer doubt that the
estimate of 1000 houses for the year will be
reached, if not exceeded
Lima oil stole march on the Pennsylvania
product last week and came to the front as
disturbing element in the market. An effort
was made by some of the operators and brokers
to minify the effect of the disclosure but it had
little weight with the public. For the present,
at least, the Standard has made dollar oil an
impossibility, but as this inures to the benefit
of consumers there will not be many tears shed
except by the longs. The market recovered
a point or two yesterday, closing strong and &C.
tive.
The demand for mortgages as an investment
is increasing, as they are considered the best
opening for the employment of capital that has
been withdrawn from the speculative markets,
and that is lying idle in the banks and in the
strong boxes OF private individuals. The
usual rate is 1906 per cent. The number Re-
nearly all home money. The largest were for
$4,000, $4,000 S36666, $1,000, TWO for $4,000
each Sl2 900, three for SIC, 900 each and ten for
sums ranging from S. 600 to S8 OOO