Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-07-12
PLATE GLASS STOCK.
A Large Bundle of 1t Sold Away
Under Exchange Quotations.
SHORTEST MEETING ON RECORD.
Electricity to Supply Oakland and Squirrel
Hill With Rapid Transit.
MT WASHINGTON COMING TO THE FRONT

One of the largest transactions in local
stocks of recent date has just been closed up.
j. B. Ford sold to c. B. McLain, President
of the Masonic Bank, 1000 shares Of Pitts
burg Plate Glass stock at $3.50 per share,
cash, check for $3.50, 900 being handed over
and delivered for the certificates.
More of it can be had at the same price.
This is 81 points below Exchange quotations
yesterday, and is probably the fair value of the
stock.
The proposition to divide the Exchange sur
plus of s., 900 pro rata among the members was
nipped in the bud in the most summary manner
yesterday. President Arter called the meeting
to order and stated the question. 1t was imme-
diately moved and seconded that the PROPOSE
ton be laid on the table. This was carried
with only three votes in the negative. This was
instantly followed by a motion to adjourn,
which was carried by the same vote.
The meeting was over in less than two min
utes-so quickly, indeed, that it caused one to
wonder that il SO soon done for what it was
begun for. The brevity of the meeting was like
the effort of the Western orator some years ago.
He said: "Mr. President Iise-to sit down."
He had forgotten what he wanted to say. The
surplus, therefore, remains in the treasury, to
be used as exigencies may require.
1t was whispered about yesterday that the
much-talked-of "loup' winch is to give Oak.
land the benefit of rapid transit will be oper-
ated by electricity and not by cable. 1t is
understood that the contract for building it
has been let. 1t was further whispered that
the ''loup" will form a connecting link between
the Fifth avenue cable road and the proposed
electric road to Squirrel Hill, and will start
from about the corner of Sylvan avenue and
Boquet street and run out into the Twenty
third ward, passing through the proposed
Schenley Park, and continuing along Green
field avenue.
This will open up one of the largest tracts of
unimproved land within the corporate limits
of Pittsburg and greatly facilitate the settle
ment of district that is unrivaled in its at
fractions and advantages for homes for the
people.
Mount Washington and Allentown are set.
tling up very fast A large number of resi-
dences are going up, and a score or two have
lately been completed and occupied. They
range in cost from 81, 500 to 5000. Good lots
within ten minutes of Smith, cid street are
offered as low as $3.50. on easy payments. The
Allentown Electric Railroad Company is build
ing branch to take In the Mount The horse
car line has designs on the same territory.
is quite animated. The electric road people
will doubtless secure the plum. The new in
cline of the Castle Shannon Railroad will be
finished in go days. This will open another
avenue to the Mount and increase its desir-
ability as place of residence.
Among its many attractions are pure air and
water, cleanliness and magnificent views of a
largo area of the surrounding country. On
one side the observer has panoramic pros
pect of the entire valley in which Pittsburg is
situated; on the other his eye ranges over a
wide extent of green fields and tree-crowned
uplands finally resting on the misty mountain
tops in Washington county. There are few
places SO convenient to Pittsburg that possess
equal inducements to men of moderate means.
<s+
The sale of 2 0O0 tons of Bessemer pig at SIS IS
is conclusive evidence there has been no advance
in prices in this market. Concerning the situa-
ton and prospect, an iron broker said yester-
day: Prices although without perceptible
change, are firmer than they were a week ago.
The practical settlement of the wage question
has had good effect The demand for all de-
scriptions of iron is good, and is steadily in.
Some think there will be no change
in prices, but look for an advance. Stocks
are small. 1 think nearly all the mills will
soon complete repairs and start up with orders
enough TO keep them running all through the
fall and winter"
He thought the result of the contest at Jones
& Laughlins' would settle the dispute over the
steel scale. Whatever was agreed upon there
would probably be accepted by the other firms.
While of the opinion that the 10 per cent ad-
vance demanded by the men was unfair, as ir
was easier to roll steel than iron, he was of the
opinion the firm would finally yield. as they
had some big orders that wouldn't keep.
go a
Those who think that land is "dirt cheap" in
the far West are badly mistaken. A gentle
man told me yesterday that a lot situated next
to hotel in Manitou, Col, and having 'front.'
age of $50 feet recently sold for $5,O0O or some.
thing over $50 foot Purchasers can do better
than this in some parts of Pirtsburg.