Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-08-29
WANT CHEAP MONEY.
A Good Opportunity for Pittsburg
Capitalists to Unload.
NATURAL GAS COMPANIES SCORED.
A Kicking Stockholder Airs His Grievances
in a Vigorous Style.
wYLIE AVENUE MERCHANTS LOOK BLUE

WYLIE AVENUE MERCHANTS LOOK BLUE |
AS proof that the average citizen keeps |
his eyes open in regard to money matters, it
NAV be stated that the interview with q
broker which appeared in The DISPATCH
a few days ago, wherein he said he could
get $1OO, 900 in 4s hours to place on mort
cages at Az per cent and tax, has elected
an avalanche of letters to this paper from
surrounding towns requesting the name OF
the broker and other particulars. These let
ters have been turned over to the gentleman
making the offer, who will no doubt proceed to
make good his promise.
The following communication from stock
holder of the Independent Gas Company, OF
Sewickley. is pertinent and to the point. Good
management is essential to the success of any
enterprise. Whenever the interests of stock
holders are neglected or ignored dissatisfaction
and lack of harmony will naturally follow.
Officers of corporations too often assume auto
cratic airs and manners for the good Of the
interests over which they preside. Less red
tape and a more open and liberal policy on their
part would be better for all concerned.
SEwICKLEY, August "a.
Financial Editor Dispatch:
The remarks in THE DISPATCH concerning
the CHARTERS Company are also applicable to
some of the smaller companies. Take the In
dependent Gas Company Of Sewickley, in
which / am a stockholdeE. When this company
was started, it was said BY those in charge that
its stock would be the best investment of any
of the gas stocks; that it would contain no
water. and that its earning power would there
-. 81 II told
the company will pay 20 per cent next year. L
don't care how much the company will pay;
what I want to know is why 1t doesn't pay, not
20 per cent but per cent
The history: of the natural gas companies
shows that if the stockholders do not get . re-
turn on their stock early In the operations Of
| the companies, they are likely to not get any
return at ALL Our, company, I am told, has
| contracts that give 1t revenue Of about
5000 year. Surely the expenses Of such
small company are not anything like that sum-
| Yet where does the money 60? have been
told that every one of the officers and directors
receives a compensation in some way. The
Secretary, who spends one hour a day on an
average in the company's office. gets S9OO
year; the Clerk, who does the Secretary's work,
| gets $500 a year; the Treasurer. who does moth
ing at all, gets $500 q year, and SO on; and. as
the President thinks himself wonder, sup
pose he gets 81 200 year, or its equivalent.
If this be true it would account for the debt
| our company has to-day. think a stockhold-
| ers meeting should be called and the affairs of
the company investigated before the officers
| run the company into the same condition the
other gas companies are in. FAIRPLAY.
| The Central Traction Company is hard at
| work on Fourth avenue, and il the progress
| made yesterday be taken as an indication, 1t
| will make things hum until completed. Anent
| of this a business man said yesterday: Il am
| glad 10 see the Central making such rapid pro-
| gress; it will nelp Fourth avenue, but will be an
| injury to Wylie. People along that thorough
| fare, a great many Of them. will do the bulk of
| their trading down town. They can make the
| trip in few minutes, and probably save some
thing into the bargain. But the advantage of
/ larger stocks TO choose from, to say nothing of
| comfortable and cheap ride, will be sufficient
| to divert considerable trade from Wylie,
whether people save anything by it or not.
| Some of the merchants out there are already
! looking blue over the prospect of losing part of
I their trade"
A lot on Wood street Williamsburg. within 100
feet of the railroad station. has just been sold
| at the rate of sll5 front foot This is the
| highest price yet realized for land in that
borough, and shows the high regard in which
it is held by discriminating investors. The
| seller was w. E. Hamnett and the purchaser
| r. NJ. Snodgrass
| Another transaction Of importance was closed
| up by W. A. Heron Sons yesterday, who
sold lot on Forbes street S5H by 800 feet for
| Sc, $50 cash. The purchaser, q well known bust
ness man, will erect at once q residence to cost
| in the neighborhood OF $1,000. Several deals
| for large amounts are pending in the same To-
cality, one-of which is almost completed. 1t is
proposed to erect fine dwelling houses ON all of
these properties.
| The enterprise of German exporters is be-
| coming proverb. Every few months some
| new project is started by them. generally as a
| collective undertaking, looking to the increased
sale of German manufactures in foreign lands.
The latest thing of the kind is reported from
| Frankfort The idea involved Is one with that
which started out exhibits by rail in this
country last year. The only difference is that
| the German exporters will make use of a large
| steamship specially constructed for that pur-
| pose instead of a railroad train, thus per-
mitting of the display of larger and more fully
assorted stock of goods. The voyage, too. will
be heightened much beyond the time allowed
for train-traveling exhibits; the cruise will last
| about two years, and the vessel will call at all
| the principal ports in the world.
The magnitude of this floating exhibition of
| German products will be understood when it
| is stated that the goods will be carried on
| steel-built vessel, THE Emperor William"
measuring $40 in length. 70 feet in width, As
feet in height and fitted up with all modern
improvements and convenierces. There will
| be eight large gorgeous show rooms, with gal
| Ieries for the cases in which the goods will be
| fastened. The estimated cost of the two years
| voyage is $500, 900; but it is expected that the
gross receipts will not be less than twice that
| amount
Tests made iu London have shown that the
value of coal wasted in smoke from the do
mestlc freplaces in that city amounts to
| Sll, ,2S2 500 annually, while the aggregate waste
of unconsumed carbon is $4,000, 600 year. and
the damage to property caused by the smoky
| atmosphere is put down at s100C0,000. The
| effect upon human life and health of an
| enormous volume of hydro-carbon and car
bonic-oxide gases pouring into the atmos-
phere daily is fearful to contemplate, and
science could do nothing more practical than to
bend It's energies to the solution Of such
great economic problem.
| STOCKS IMPROVING.