Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-30
CAN MAKEOR UNMAKE
The Future of the Real Estate Busi-
ness in the Hands of Owners.
FAIR PRICES BETTER FOR ALL.
A Nation Of Aborigines Out West That is
Fairly Rolling in Wealth.
EX-MAYoR HEwITTs NOVEL BUILDING


Pittsburg real estate owners have it in
their power to make or unmake the market.
If they become unreasonable in their de-
msnds business will fall off; if they shall
show disposition to restrict prices to a
fair valuation sales will increase. 1t is
| gratifying to know that exaggerated ideas
of values are. the exception, not the rule.
The failure TO carry out a bull movement on
Penn avenue is likely to prove salutary
| lesson. Buyers, as a rule, are willing to
pay fair prices for property, but when
their overtures are met by fancy figures,
they become discouraged and retire from
the market
In this way needed Improvements are re-
tarded or abandoned altogether, and the
growth of the city hindered. This is crit
ical period in the real estate business in
Pittsburg. Capitalists are just awaken
ing to its Importance as an investment, and
it would be poor policy to meet them on the
very threshold with exorbitant demands.
holders of realty, therefore, should move
cautiously, and avoid the mistake OF kill
ing the goose that lays the golden eggs.
OCCdslOnal Shieh Oh properly 1OE SpcClaA puA-
poses to men loaded down with money, and
who care very little what they have to pay, as
mentioned in transaction few days ago,
where $4,000 was given for a property worth
about half as much, are entirely outside the
market, and should not be urged by holders as
precedents.
Pittsburg is a wealthy community, but it will
not bear comparison in that respect with the
Usage tribe of Indians, whose reservation is
between Kansas and the Greek country. They
are five times as rich as the average of Ameri-
cans, ten times as rich as the average of En-
glishmen, and the French and Italians are
paupers in comparison There are among the
Osages no penniless people, and none in want
except that Unsuitable want that always wants
more There are SOL of them, according to
last years census. They have in the United
States Treasury s., ,75s 694 of their own money,
drawing per cent interest. This amounts to a
capital of S. l75 apiece for the whole nation
men, women and children.
But beside this they have 1,470, 100 acres Of
land, equal to just about 200 acres apiece.
This land is mostly fine and arabic, and would
sell for an average of $40 an acre, or $4,000 for
each individuals portion, This makes each
individual Usage Indian worth Sl5.172 Each
family possesses $50, 900 on an average, and the
head of it, il he be industrious and enterpris-
ing can grow Sl0 600 worth of crops year
his 1000 acres of land. He is raised perma-
nently above want and above fear of want.
Hon. A. 8. Hewitt, e1-Mayor Of New York,
is erecting a dwelling house at his country
seat, at Ringwood. Passaie county, N. J., which
for cheapness, originality, durability and fire.
proof qualities will probably excel any struc-
ture ever erected. Mr.. Hewitt first erected
a balloon frame; this he covered inside and out
with woven wire fire-proof lathing. On this he
placed a moderately thick coat of adamant
plaster, serving the roof in the same manner.
As result he will have a stone house. posi-
lively fire, damp and vermin proof, at less
than one-half the cost Of a cheap frame build
ing and a thousand times more durable.
The suggestion of cheapness in Mr.. Hewitt's
device has popular flavor for this as well as
other communities and if the claims set up for
it be fully sustained, it should be given a trial
by a local builder and its merits thoroughly
tested. What Pittsburg chiefly needs is cheap
houses, but they must be good ones.
Believing that the course of events has
shown that the legal half holiday on Saturday
is not an unmitigated pleasure, New York
brokers have again started petition which
will be presented to Governor David B. Hill in
due course, asking that the Saturday half
holiday law be repealed and Wall street be
given the advantages which three hours extra
business would yield. The petition is being
widely signed. 1t is stated that out of every
10 commission brokers prefer returning to the
old practice of keeping shop open between 10
and to putting up the shutters at noon.
Should the change be made in New York it is
quite probable that Pittsburg brokers will
make similar move
Considerable Of the lumber used for building
purposes in PIttsbure comes from West Vir- |
ginia. An Allegheny City firm has recently |
built large sawmill in Randolph county and |
is building railroad which will open up one of |
the finest lumber districts in the State. The |
timber has healthy appearance. stands close |
together and Is, as a rule. remarkably tall and |
straight. The number of large trees Is surpris- |
ing A recent letter from Randolph county |
says:
THE largest yellow poplar which I have
measured in this county is % feet 10 inches |
around; the largest black walnut IA feet 10 |
inches Though stumps of this timber where |
the trees have recently been taken, are found |
here over 20 feet around); the largest red oak,
IL feet inches around; the largest wild cherry,
II feet inches around; the largest white ash,
IL feet around, the largest white oak, IL feet |
inches; the largest black birch. s feet A inches:
the largest yellow linden tree II feet around; the
largest maple tree. 13 feet inches around OF
course these figures are not the average tim
ber, but serve to show the full development of
the timber in this climate"
England no longer spurns American ideas
In recent letter from there the following oc-
ours:
'Tt is gratifying indication that our iron
masters have, during the depressed period
which preceded the current revival, learned
the lesson of adversely, that they are now tax
ing very lively interest in all manner of
schemes for increasing the efficiency, and re-
ducing the cost of their methods of produc-
ton. The reports of our various technical in
stitutes show that every proposal which has
these ends in view receives the readiest atten-
ton in metallurgical circles just now. The ap-
plication of electricity to mining and to metal
is one of the directions in which
we may expect TO see English invention follow
lead more closely in the future
I'VE recognize that great steps have already
been taken in America toward the employment
Of electricity as a motive power not only for
street traction, but also in workshops and for
general Industrial purposes. If one may judge
from the increasing attention the matter is re-