Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-28
AN ORIGINAL IDEA.
Market House ON she Allegheny River
Last Weeks Business.

Market House on the Allegheny River
Last Weeks Business.
/, Land is scarce and valuable in the busi-
ness part of Pittsburg, and any suggestion,
idea or plan to ease up the pressure and in
crease the business. area is entitled to re-
spectful consideration. From a multiple
ity Of devices there may eventually be
evolved project which will give the neces-
sary relief.
With this purpose in view, former resi-
dent of Boston, but now prominent manu-
taeturer of this city, whose name is at the
command of anyone who may become inter
ested in the matter, in coversation with
THE DISPATCH representative Saturday,
advanced an idea, at once original and
novel, the adoption Of which, in his opinion,
would bring into use a large amount Of sur
face space in the heart of the
city, which is greatly needed for
business purposes. The idea is this:
That when the contemplated bridge
over the Allegheny river, at Fifth street, shall
be built, the space between it and the Sixth
street bridge be fioored and rooted over SO as
to form building Of sufficient size and strength
for market house for the two cities. and so
constructed as to afford a convenient passage
way for teams and pedestrians from one side OF
the river to the other. In other words, the
proposition Is to make continuous bridge from
Fifth to sixth street, rooted and hoored, with
doors, windows, stalls and other conveniences
for the purposes of a general market and with
roadways at the sides and in the center to allow
of free and easy ingress and egress.
He is perfectly satisfied as to the feasibility
of the scheme. AS to- the cost, he thinks It
could be easily betrayed by the proceeds Of the
a xn~IE Er-r~ raA k-x
purposes in Pittsburg and Allegheny; or, If the
cities should prefer to hold this property for
other municipal uses. bonds could be issued to
cover the expense, which would not be great.
Rents from stalls and other market privileges
would be large enough to soon cancel the debt.
The gentleman, who has given considerable
thought to the matter, maintains that 1t is en-
similar structure over the river Seine at Paris,
one over the Danube at Buda-Pesth. and the
old London bridge over the Thames, which was
covered with substantial houses, used both for
residence and business purposes.
Should the space between the Sixth and
Seventh street bridges be deemed preferable
for any yreason-centrality Of location. for in
stance-the improvement could be made there.
The principal features of local business last
week were continued activity In the iron trade,
and a liberal movement OF all the staple prod
ucts There were no material changes In values.
but they were well maintained. There was
surplus of money, although many other points
east and west complained of a scarcity. Rates
were steady at 506 on call, and 6Q7 on time.
Real estate was active.
In the speculative branch the features were
bad break in Philadelphia Gas Company stock,
and sharp advance in petroleum. The in
1uences affecting the Philadelphia stock were
those which have been used by the bears for
some time-insufficient supply indicating per-
manent shortage. and loss of business resulting
in decreased earnings. The bears on the mar
ket were the only ones able to find sufficient
reasons for these opinions. The stock closed
steady at a fraction above the lowest point Of
the decline
The advance in petroleum was due entirely
to statistical conditions. which show a rapid
growth in consumption and a steady depletion
in stocks. In view of this fact. and of the ad-
mitted scarcity Of the product, and with no
prospect of making good the deficiency from
territory where operations are now In progress,
the opinion widely obtains that the present ad-
vance will not be checked until the price
reaches 81 25 or 81 So Statistics favor the latter
figure. - .y1
So far as business was concerned Saturdays
stock market was failure the only sale being
10 shares Of Philadelphia Gas, but what it
lacked In activity 1t gained in strength, nearly
the entire active list being firm and higher, the
only notable exception being Switch and Signal,
for which Is was the best bid
Philadelphia Gas was decidedly stronger and
very sparingly offered. It sold In small way
ct sVX. At which hgure several hundred shares