Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-08
4 NATIONAL BANK
Talked of for the East End, With a
Prospect Of Materializlng'
TWO LARGE DEALS IN, REALTY.
Some Of the Objections Urged Against q
Change Of Annual Moving Day.
POPULlRlzISs APARTMENT HOUSES

There is movement amang East End
business men to establish national bank IN
that part of the city which is considered a
good opening for such an institution. A
considerable part--nearly one-half-of the
proposed capital, 100000. is already as
good as taken.
The names Of the projectors are withheld
for the present. but they are all prominent
ana influential citizens of the East End, A
meeting will be held in 8 few days to settle
the details such as name, location etc.
$50
As there are two sides to every question that
comes up for discussion and settlement, 1t is
not surprising that the proposition to change
moving day should encounter opposition. Same
of the arguments urged against the departure,
as formulated by prominent real estate dealer
on Fourth avenue, are herewith presented.
While there is no doubt that the change would
be heartily endorsed by the public, 1t II wen
enough to examine it in all its bearings 30 as to
insure intelligent action at the proper time.
The gentleman said:
"There are several thinga in the way OF
changing moving day from April l to May ].
The date first given is firmly established by
AonS GubkUtut anu was duOPbcu M0N0 4ANAA
necessity than convenience as no other time
could or would suit the farmers so well. The
time would not only have to be changed in the
city, but in ths immediate suburbs a. tenants
come and 60, The people are welded to old
customs and suspicious of new ones. The
change could not take place without good
deal of friction, and in some cases legal diff
culties as it would be difficult to have leases
arranged to suit everybody. The unanimous
consent of all owners would have to be OBJ
tanned. Agents can do nothing of themselves.
u am in favor of the change, and would be
glad to see it made, but think we will make
mistake If we attempt to force it. The people
must be educated up to 1t, Not only owners
but tenants must Join in the movement
think the tenants are the proper persons to
agitate and insist upon the change"
The sale Of two large buildings and grounds
in the East End for $4,000 was noted in THE
DISPATCH two or three days ago, but particu-
lars we're not given. Some additional informa-
tion was obtained yesterday. The property
comprises the elegant mansions Of Simon Bey-
mer and the late R. Q. Sehmertz, on Fifth ave-
nue., Bellfield, with grounds occupying square
between Craig and Neville Streets The price
as originally given is correct. The purchasers
names are withheld for the present, but they
are both prominent business men, and they
will occupy and improve the properties
1t was reported on the street that the nego-
tiations were conducted by Messrs Black q
Baird, but when questioned about the matter
they declined to say more than confirm the
facts as above given.
Quite o number of apartment houses for
medium class tenants are going up in different
parts of the city, some within ten minutes Of
the postofice, and others are talked of for next
year. They are generally OF three and four
stories without elevators but have many con-
veniences and are q great Improvement over
the old way of three or four fsmilies living in
a house originally intended for one.
Referring to these buildings Samuel W.
Black remarked yesterday Il am glad these
houses are going up; Although not SO large as
they ought to be, they will serve to educate the
people up to something betteri and they are
good investment paying from lOtoioper cent.
Apartment houses are q necessity in Pittsburg,
more SO than in any other city In the country,
owing to the scarcity and high price Of ground.
and their introduction is only question of Q
little time. They are bound to Gomez
49,
Although business last week had number
of depressing influences to contend with
fires, some failures near and far, and large
installment of execrable weather--it came out
of the ordeal with flying coIors The bank ex-
changes we're over 100000 in excess Of the
corresponding week last year. There was no
scarcity of funds for legitimate business.
The speculative markets were. in the main,
dull and weak, though an occasional rally
served to keep them out of the rut. large |
number of important transactions in real estate |
furnished abundant proof Of great activity in |
this branch of business The demand for holi- !
day goods was so great that some Of the dealers |
had to increase their clerical forces.
The worst roads in Western Pennsylvania, |
and in Allegheny county especially, are pre-
cisely where natural resources are the most |
abundant. Fifty years ago the condition of the |
roads In Allegheny county might have been |
exeusable. There is no excuse for them now. /
Good roads improve property; they attract
population; they are essential to social inter- |
course and to the proper discharge of the 1
duties of an American citizen. The SI62 600 /
supposed to be expended yearly on the roads in
Allegheny county is in the shape of taxation. /
That is to say, the farmers are taxed to that
amount aud they are supposed to work it /
out'' on the roads. If they do this there is very |
little to show for it. The amount of money |
stated ought to be suficient to keep every road |
in the county in good condition. There is a
screw loose somewhere. Where is 1t?
The Real Estate Record takes occasion to
say; 'sThe mere fact that tracts of land are sold
resold and sold again, each time at a higher
figure, sometimes at profit of Is and 30 per
cent, is significant. The more SO when it is
borne in mind that there is no boom that on
the contrary there is a large number of people |
who enjoy the reputation of being very con-
servative mem who are buying, and that there
is no brass band or auction devices resorted to.
We question whether there is a healthier
steadier or more regular real estate market in
the country than that of Pittsburg, or one with
as strong bottom"
Who shall say that the American workmen
are downtrodden and oppressed by capital,
when it is possible for a man to start in
small way as blacksmith and wheelwright as
did Mr. Clem Studebaker and his two brothers
OF South Bend, Ind, and work up to become
mlIlionaires It is not known what Mr.. Clem
Studebaker is worth but his wealth must be
very great when it was possible for him to
build and support $500, 900 mansion. If others
hadn't the ability to accomplish what he did, it
is not the fault of capital, but rather the fault
of their Creator. who made them with less
talent for accommodating Generally. however
it is nobodys fault but their own that such
people don't get along
OF course there are exceptions, but no healthy
man with ordinary talents, who decides to lead
. temperate, frugal life, spending continua ually
less than he earns, can fail to acquire, in the
course of an ordinary lifetime, competence,
and even in many instances become wealthy
The new coke works ut Grindstone station.
on the Redstone branch of the Pittsburg, Vir-
ginia and Charleston Railroad, when finished.
will be one Of the most complete coke and coal
plants in Pennsylvania. All the latest and most
fuc1rovad rna oI,inarv for hofafinO and ha,,I;-. |