Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-09-22
Nothing Like a Boom, But a Steady
Broadening and Widening.
THE STANDING OF LOCAL STOCKS.
This Winter to Settle the Value of the
GasSerS as Paying Properties.
REAL ESTATE CATCHING SECOND WIND

IacIurers tell the same story.
There is no hurrah about it, no pyrotech-
mics, no boom, nothing exciting, but slow,
steady healthy expansion which touches
and WHITES every part of the industrial system.
Fortune smiles and the country prospers. DR..
Croaker might as we'll take in his shingle.
The stock call yesterday was productive of a
large array of figures. with next to nothing in
the way of business as compensation. Speak
ing of stocks generally, it may be said that
there has not been for several years period of
such extreme dullness as has prevailed since
the abatement of the spring boom. 1t is
worthy of mention, however, that prices have
been well sustained, there having been, with
two or three exceptions, no marked declines,
and even these were due to fictitious infiu-
ences. There has been no change in conditions
TO unfavorably affect the value of local stocks.
This is shown in the fact that concessions are
almost invariably refused.
There was good attendance at the call yes
terday, and orders were not wanting, but buy
ers and sellers were too far apart for business,
and as there was no particular pressure on
either side, it was concluded to trust to luck
and time to equalize differences. ~ will lose
nothing by waiting" said bear. 81 think the
trend of the market is in my favor, and will
bide my time" said a bull. 1t augurs happy
condition when both sides are satisfied. The
weak spots that stood out most prominently
were Philadelphia Gas and Electric, but the
depression in these properties, as learned from
good authority, is due more to outside in
fuences than to any change in their material
standing. The decisive test of the inherent
strength of the former, as relating to
full and permanent supply of gas will be
made this winter. If it should be favorable the
value of the stock will be established and in
vestors at present. or even higher, prices, be
enabled to congratulate themselves on their
foresight. These remarks are applicable, in
the main, to all the other natural gas stocks.
The Electric Company is doing a large and
profitable business with steadily improving
prospects, but the stock is handicapped by legal
complications and manipulation, as is under
stood. by clique who desire to get control of
it. With these obstacles out of the way there
is no apparent reason why it should not be one
of the most popular securities on the list.
The traction stocks, with the exception of
Central, have been for some time almost en-
tirely neglected, owing mainly, it is surmsed,
to the refusal or neglect of the companies to
furnish the public information as to earnings
and profits, compelling investors to take all the
chances. Central has recovered somewhat from
the scare caused by the Fourth avenue grade
complication. Bank and bridge stocks are in
first-class demand, with frequent appreciations.
as was shown yesterday, when l35 was bid for
Fidelity Title and Trust Company.
The bidding denoted an active demand for
insurance stocks, but the figures were for the
most part nominal The years losses have been
heavy, but as business is improving the out
look for them is encouraging. Yankee Girl
still holds her head high among the mining
stocks. Her recent strength is due to report,
apparently well substantiated, that the lost
vein has been found. So far as the public
knows, La Noria never had a vein to lose.
There is always something new under the
sun. The latest business venture, and one en-
tirely new in its inception and scope, is the
organization IN New York of the Drygoods
Credit Guarantee and Indemnity Company, for
the purpose of extending to the general field of
commercial credits-not confined to the dry
goods trade (as the name might seem to IMPLY
the same or like protection to that afforded
by fire and life assurances in their respective
lines. The capital is sl,OOoOOO, with an indem-
nifty fund of 100000 deposited in the Treasury
of the State of New York. The primary object
of the company is the making good to the cred
itor bad debts; and it starts out with good
promise of a successful career. Orlando M.
Harper, a son of President Harper, of the
Bank of Pittsburg, and formerly resident of
this city, is one of the promoters and stock
holders.
The fall movement in real estate has set in.
The inquiry is good and sales increasing An
agent was asked yesterday:
"Is there any probability of a boom?"
No, sir. And am glad of 1t. Booms react.
They run their course, cause great excitement
lead to rash investments, subside and leave
things fat as founder. A boom is a cancer in
the industrial system, and should be cut out as
soon as it makes its appearance"
"a great deal of money has been invested in
lands and houses during the past year or So
Do you anticipate reaction in valuesf'
81 do not. Enhancement has been slow. A
large proportion of the properties that have
changed hands within the time specified has
been bought and built on by working people
The number OF cash sales has been yery large
Investors are not running into debt head over
heels. Beside, there is a legitimate demand
for all kinds of properties. People want to
establish homes or 60 into business in their
own houses. There is no craze. Speculation
is confined to reasonable bounds There are
few empty houses of any kind-not enough to
supply the demand. Under these CONDITIONS
do not see any ground for reaction, The
market is In stable, healthy condition. with
slight upward tendency. under the pressure of
an increasing demand. The city is rapidlv
filling up, and the new corners must have
houses to live IN. This is a guarantee of the
stability of the market. Real estate promises
to be a good and safe investment for a long
time to come" :.
What should be done to attract population to
the city?
s'More houses should be built-houses cost-
ing from 5000 to $1,000. or even less. There is
a big demand for them which cannot be snn-
piled. They are all occupied. hope our can
italists will look into this matter ana supniv
the want I know of no better investment
The following unique business letter was 70.
ceived by Fourth avenue real estate agent a
day or two ago. 1t is reproduced verbatim:
P1TTsBURG, Sept. -.
Dear sirs:
1 saw your advertisement in THE DIS
PATCH about lending money if Won wonId
please be kind to write and let me know on
what terms you lend it howyou pay it back and
If YOU need any security Please make the
terms as easy as you can I hope they are
within my reach
Yours with a hopeing heart Please write soon
and end mysuspenss
There continues to be healthy movement in
realty down the Fort Wayne Railroad at Bell.
vue and vicinity, and if all the projects that are
under way are carried out, as they no doubt
will be- that district will soon claim the distinc.
ton of being one of the handsomest around
Surveyors are laying out the Bayne tract. ITO
aoraa sold some time apo for Sim I'M T4 -,