Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-31
TWO MORE DICKERS.
In Realty Involving One Hundred
Thousand Dollars Cold Cash.
THE ELLA GORDON PROPERTY SOLD.
Views of Experts on the Side Street Issue
and Need of Business Houses.
ROOM FOR MORE OFFICE BUILDINGS

The Ella Gordon property, on Penn
avenue, 441kx110 to an alley, was sold yes
terday to Charles Lockbart for $4,000,
being fraction over s., 500 front foot 1t
adjoins the Messler property, recently sold
to NJ. Seibert & Co. 1t Is understood that
Mr. Lockhart will tear down the old house
and erect handsome business block on the
| lot early next spring.
1t was reported yesterday evening that
Mr.. ]. J. Howley had sold an East End resi-
dence for $4,000 but as he could not be found,
particulars are necessarily omitted.
The year is closing upon a condition of pros
| perity in this country and this community
which has few parallels in the annals of trade.
In looking over the history of the past IL
months but little is seen to cause regret. There
were no disastrous failures All of the great
industries were pushed to their utmost ca
pacity. Labor found full employment at fair
remuneration. Almost without exception the
people-employe as well as employer-are
richer than they were II months ago.
But this, while a cheerful, is not the best
feature of the situation. The substantial basis
upon which everything of business nature
rests causes hopeful anticipations for the COM
| ing year. There is every indication that the
industrial development of 1889 will be con-
tinued during 1890. The home market for the
leading domestic products is still unsatisfed,
and this insures prolongation of the present
remarkable activity. The new year. therefore.
should be hailed with confidence, not appre-
hension
Words of warning may preventa real estate
craze which would cripple or destroy the mar
ket A Fourth avenue agent remarked yester-
day: Recent articles in THE DISPATCH in
regard to property on side streets and other
obscure localities were timely, and think they
will have good effect. People buy property
for what they can make out of 1t. If its pro-
ductIve capacity has not been reached, they are
willing TO pay round figure for it, but when it
is bringing all the rental occupants of such
property are able to pay, they will gauge their
offers on that basis. They know at once what
it is worth TO them, and will not give more.
Owners of such property, if they want to sell,
should avoid fancy prices. Such property is
the last to feel the effects of boom"
These remarks are correct in the main.
While property of the kind in question varies
in value less than that more eligibly situated,
still it is amenaDle to the fluctuations of the
market. What THE DISPATCH desires to in
culcate is that owners of this description of
property Dg OuL lOI 6AOIblSdub ptACcas
as is frequently the case, shut themselves out
of the market altogether. This works harm to
them, to the city, by obstructing improvements,
and to business generally. 1t is unreasonable
to expect $4,000 for S. 900 house and lot, no
matter where situated, but more particularly
if it be on back street, and renting for all it
will ever bring.
The following was caught on the wing yes
terday. Two men talking on a street corner.
Said one: Il will sell you the buildings, rigging
and four acres for SSO,OOO" Remarked the
other: THAT is fair offer. L will think about
it," What were they talking aboutf
Early in the year it was predicted by some
that so many Office buildings would be erected
as to make them losing investment, but such
has not been the result. They are all occupied
and the demand is not supplied. Rooms in
buildings in course of erection are engaged
months ahead, as III the case OF the National
Bank of Commerce and some Others Build
ings of this kind pay from to 12per cent
showing that they arc a good investment !
There is room for more of them.
The following expresses the views of one of
the oldest real estate dealers in the city on
subject of general Importance: "The great
need of the city at present is not Office build
ings, buh hmore well-arranged and regulated
warehouses. The suggestion OF The DIS
PATCH to take down old buildings and put up
new ones that will pay better is good one; but
first we should have larger number of CON-
modious business houses to increase the volume
of our trade. They are very scarce. We can't
bring outside trade here until we can offer bet
ter business houses to accommodate it. This
is subject worth looking into by investors"
.sR
Glass manufacturers report trade only fair.
They expect sales to fall off during the period |
of yearly settlements Orders for green glass |
ware grow less and only medium traue is be- |
ing done. There is a fair demand for window |
glass; without new developments. Prescrip- /
tion glass is dull. Jobbers are deferring pur-
chases of chimneyS until the new year, but it is
expected they will buy more literally then. |
There are no new features to the trade Sales
of tableware are meager and but little is being /
done in any line. Preparations for the next |
turers. The condition of the glass trade in the
obtains here.
A prominent lumber dealer. whose Office is
on Fifth avenue. remarked yesterday: "One of
the most profitable trades young man can
learn is to become good sawyer. The trade
cannot all be learned from theory, nor yet all
from practice. 1t requires a mechanical, a
good theoretical knowledge of the various
kinds of timber and machinery, and long ex-
perience and hard work. Good sawyers are
the scarcest of all mechanics and are in de-
mand in all sections. They are hard to find
when neeoed because they do not have to
tramp the country over to find job."