Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-08-01
A DEAL HANGS FIRE.
Second Liens on Property Not Good
Enough for Security.
THE CENTRAL TRACTION In LUCK.
Mr.. George Westinghouse to Perpetuate
His Name at Wilmerding.
THE BIG BOULEVARD---A NEW STATION

The Fidelity Title and Trust Company, of
Pittsburg, yesterday purchased the entire
amount Of bonds. $4,000, issued by the
Central Traction Company. The price paid
was 103 and interest. The Central Is the
only one of the local traction companies that
has succeeded in placing its bonds at pre-
MUM. This deal will undoubtedly
strengthen the Central Traction stock.
y x<
The sale of fine East End residence is
hanging fire on account of the insufficiency
Of the security for the purchase money. A
second lien on city property was offered and
refused. The agent who is conducting the
negotiations said: Second liens, unless the
property is very valuable, are at big dis
count We understand each other now, and
think the deal will 60 through all right"
Those nrophets of disaster who have fore
told the speedy giving out of the natural gas
supply have apparently been proven false
seers The great wells in the Pittsburg dis
trict, the Findlay (Ohio) district, and the
Kokomo Qnd.) district, show no signs Of slack
ing their supplies, except when they become
choked by salt water, and that difficulty will
finally be overcome by Yankee ingenuity.
More bountiful wells than any yet bored are
being developed every month or week; millions
on millions of cubic feet of the fluid 60 to
waste Idaily and still it continues to gush.
This being the case, it seems pertinent to in
quire If gas could not be supplied at much
lower rate than is demanded aud still yield
handsome protit2 1t should be in every house,
but as it costs more than coal, many use the
latter on the score of economy.
Viewers will meet next Monday at Woods
Run to assess damages and benefits growing
out of the opening of the Ohio river boulevard.
or California avenue. There is some opposi-
tion among property holders, but lit is SO trifing
that it will be easily overcome. The avenue
has progressed SC far as TO insure its compile
ton,
Several Pittsburg capitalists have large in
terests in the Hooking Valley Railroad. Judge
Burke has this to say of the report that re-
ceiver is to be asked for: "The bondholders
according to terms Of bonds cannot take any
action until after there has been a default ex-
tending TO six months In other words they
will have to wait until March next before they
obtain redress. In the meantime the extension
of six months may prove of incalculable value
to the stockholders and bondholders, as busi-
ness may pick up to a sufficient extent to re-
coup recent losses"
A petition is out for station between NC
Keesport and Chute Park, Baltimore and Ohio
Railroad, at the intersection of what is known
as the Sterrett and Houghton plans, to be
called Sterrett station. This is made necessary
by the rapid increase Of population in that dis
trict
A report comes from Lima, O.. to the effect
II, %ba 49, fba Enla of ub.cI,
has always been very mysterious, has been at
last discovered. 1t has been question whether
they made Illuminating oil out of Lima oil or
not The discovery settles the fact that it is a
fine quality of naphtha that the Solar makes.
The naphtha made from Lima oil is very cheap
and is used in the manufacture of artificial gas.
A syndicate, composed mostly Of Standard
men. has organized to buy up gas plants and
furnish cheaper gas than the old companies.
The gas is said to be of very fine quality, much
superior to the old coal gas and burns brighter.
$50
Wilmerding. ON the .Pennsylvania Railroad,
between Turtle Creek and Walls, is building
up very fast. 1t is pleasantly located, and will
in time be an important industrial center. A
gentleman living in that vicinity said yesterday
that he had heard that it was Mr.. Westing-
houses intention. when the town gets a good
start. to change the name to Westinghouse to
perpeLuaCe Lne name OF the IOunuer--ln tn1S
respect following the example set by Mr.. Pull
man, near Chicago.
A Liberty street produce merchant returned
yesterday from a trip through New Jersey.
Concerning the prospect for peaches, he said
reports of serious injury to the crop were en-
Iirely sensational and unfounded. There has
been some damage from rain, causing some of
the fruit to rot but. as the trees are much full
er than usual. the loss will scarcely be felt. At
the worst there will be a good average yield,
and the quality will be good. He thinks
peaches will bring about the same prices this
year as last or possibly a little less.
There is nothing more needed than device
for the suppression of the smoke nuisance on
the railroads. and the inventor of it would not
only make fortune, but secure the thanks of
many suffering communities. In parts of the
East End the nuisance is almost unendurable
Here is an item of interest to Pittsburg coal
York capitalists has recently consummated a
big deal in the coal fields of Illinois. Six hun
dred acres have been purchased from the Buck
eye Coal Company near Pekin and options have
been secured on 5000 acres in that vicinity.
They have also bought lands of the Mapleton
Coal Company. Negotiations are in progress
for the purchase of other large quantities of
coal lands, and it Is surmised that blast fur
naces and a rolling mill are to be erected by
the syndicate and operated in connection with
the mines.