Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-24
NOT EVEN A RIPPLE
Caused in Business Circles by the
Failure Of the Lawrence Bank.
EVERYTHING is In GOOD SHAPE.
Timely Talk on the Interesting Subject Of
Next Springs Fitting.
FARMERS CUT OFF FROM THE MARKED

| ~ pesN oA1 90 boS~>AN~~ = -
other eity-the general trade movement was
spirited in quality and large in volume,
being s., ,024. 900 greater than for the cores
POnding time last year, showing degree OF
prosperity that should be gratifying to the
business part ofthe community and discour-
aging to the croakers
The only shrinkage in values was in the
speculative commodities-stocks aud oil
and these were depressed simply by reason OF
the withdrawal of support.
|
The sensation of the week in financial circles
was the failure of the Lawrence Bank,
private institution operating under State law,
but the only effect it had upon the business of
the city was to make bankers little more
cautious in scrutinizing collateral for loans.
Outside of the banks the failure was discussed
and put aside as ordinary incident, having
no special bearing upon the general trade of
| the city.
Reports on the street yesterday afternoon
were to the effect that depositors if not paid in
full, would recover at least 75 per cent The
bank wants reasonable time to enable it to
make the most of its assets, and this should not
be refused, as,to act hastily would inevitably
result in the sacrifice of much valuable prop
erty.
|
The change of moving day is essential to the
| health and comfort of a large part of the com
munity, Tenants should impress this upon
their Landlords and urge them to sign the
agreement. Prompt action is necessary to
secure the benefit of the change next year.
A lifelong friend of w. W. Young, President
of the Lawrence Bank, thus writes:
| tn the Editor ~ Tho
Whatever may be the outcome Of the unfortu-
nate failure which has agitated financial circles
for few days past there is one thing sure, that
the business integrity of W. w. Young will come
out unscathed. He has, no doubt, done unwise
things-let him who has not cast the first stone
but the public may rest assured there is no
crookedness. MIR. Young has a big heart and
when he saw friends in financial straits
ready 10 extend helping hand. truer, kinder
friend never knew. He is generous to a fault.
When the whole story Of the Lawrence Bank
trouble is told it will be found that ". W. Young
has been more ''sinned against than sinning.'i
He has been made scapegoat for others delin-
quencies. When he saw friend in straits there
was no man reader to-help, and his generous
ture has brought upon him burdens sufficient to
crush the bravest soul. little charity for kind
and true-hearted man in the deeps will be timely
now. EAST END.
House renting promises to be quite lively
next spring. Applications are already being
made, and in month there will be perfect
rush, unless all signs should fail. The demand,
so far, is principally for five and sIx-roomed
houses or fats, within Is or 20 minutes of the
postofhce, and costing from $40 to SIS month
There are two classes OF people in Pittsburg
who would use fats if they could get Just
what they want One class wants everything
on one floor, SO as to do away with the dumb
waiter. This is easy to do here where natural
gas is SO generally used as to easily secure a
constant supply of hot water, and coal to
carry. The other class would be satisfied with
the New York style of fats-rOoms en- suite
dumb-waiter and servants downstairs. This
demand for fats should interest capitalists
who are on the lookout for investments which
would pay 10 or l6 per cent.
The supply OF tenements, from all indica-
tions. will fall far short of the demand. Very
few of those now occupied will be vacated, un-
less under compulsion, and the newcomers
whose name will be legion, will be compelled to
do considerable hustling to secure quarters.
notwithstanding the large number of houses
erected during the year. Whole houses, as
stated, are, and will be scarce. There is little
probability of a material advance in rental
except, perhaps, in specially desirable business
locations.
There is Q dearth of business houses. which
may serve owners as pretext for advancing
prices This is another pointer for capitalists
A city of the size and importance of Pittsburg
should see to it that full opportunity be given
for the expansion of business, which cannot be
done SO long as there are insufficient accommo-
dations for il.
AS usual there will be a large movement
toward the suburbs, and rents will undoubtedly
have an upward tendency, as a natural result
Of quicker transit and extensive street i'm
provements.
Tenants should insist upon their landlords
signing the agreement for changing moving |
day. The only persons having valid reasons for |
opposing the change are the doctors.
The weather last week was not of the kind |
that brings joy to the hearts of the people en-
gagged in outdoor occupations The English |
epithet ''beastly" describes it perfectly. 1t may
not have rained cats and dogs, but almost |
everything else came down. City streets were |
a terror to dainty pedestrians, and country |
roads simply horrible. and are likely to remain |
in that condition the rest of the season. Farmers
living at any considerable distance from the |
railroads are as completely shut out of mar
ket for their produce as if none existed.
Builders. of course, suffered from the weather
as much as other people. Still they were not
knocked out entirely, but made considerable
progress on houses under roof, and did good
deal between showers to complete foundations.
The number of permits issued during the week
was SO, and the estimated cost of the improve
ments, $50, 460
The PiTtsburg Incline Company is doing a
good deal to develop property In the Thirty
first ward, Knoxville and Beltzhoover boroughs. |
The new freight and passenger incline is being
pushed forward as rapidly as possible. 1t starts
on Washington street, between Eleventh and
Twelfth Streets and lands at the intersection
of Washington, Brownsville and Arlington ave-
nues, Thirty-hrst ward (AIentown). The work
viii be completed April l, 1890
1t is unnecessary to point out the results that
will attend this enterprise. 1t means much to
the Southside generally, but very much more
to hill property on that side Of the river.
"wiTl the bank failure have bad effect upon
the real estate marketf'
This question was put to a prominent Fourth
avenue agent yesterday evening. His reply
was:
mot the least It will be benefit. It will
cause people to buy real estate who never
bought before. They know it is safe. sold a
lot IN the Twenty-second ward this morning to
q man who would have made different invest.
ment but for the bank failure. Many others
will follow his example. Tho fact is, real es.
tate is the best and safest thing that money can
be put into and people are fast hndding it out"
STOCKS SLUGGISH.
Not Much Vim, and Values Yield to