Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-08-11
CLIMBING THE HILL
Business Having About Touched Bed
Rock Begins to Broaden.
A BOOM IN BUILDING OPERATIONS.
An East End Syndicate to Lead OF With
Two Hundred Brick Dwellings.
LIFE INSURANCE AND MORTGAGES

Manager Chaplin, OF the Clearing House,
takes hopeful view of the business situa-
ton. he remarked yesterday: "Pittsburg
is doing remarkably well this summer.
This has been about the dullest week Of the
dullest month of the year, yet the bank
clearings are in round numbers 10000
better than for the same time last year. The
prospects for a big fall trade are rosy. L
would like to see the exchanges average
Sa0OO 900 daily, and would not be surprised II
nv wishes were realized. This would place US
permanently ahead of St. Louis
I'VE are steadily leading Baltimore and Gin
cinnati. The former is losing its grain trade,
and is not likely to be a formidable competitor
much longer. photographed to Boston to give
MS precedence over Baltimore in the Clearing
House reports and l see they have done it.
The signs of the times as read them, are full
of encouragement. Pittsburg has nothing to
fear"
There were no important changes in the bust.
ness situation last week, but such as occurred
were in the direction of expansion. 1t is the
universal opinion that the financial, CONNER
cial and industrial interests Of the country
were never ON a sounder footing The outlook
for large fall trade grows brighter as time
passes That it will give full employment to
labor and absorb about all the idle money Is
generally admitted. Local securities were,
with few exceptions, firm and dull.
The same may be said OF petroleum.
There was good movement IN real estate
for the season. The number of deeds recorded
was lS4, representing s256,76. Business In
mortgages was comparatively light owing to
the absence of a large number Of capitalists.
The number officially noted was 1872, involving
s3lS25L The largest was for $4,000, placed
with the Fidelity Title and Trust Company.
Iron was active and frmer. Wholesalers and
jobbers of the leading staples reported larger
sales than at the same time last year, and col
lections easier,
Among the rumors that ioated through
Fourth avenue last spring was one to the effect
that syndicate was being formed to build
large number of houses in the East End. Yes
terday it bobbed up again, but in shape to
show that it possesses q strong element of prob
ability According TO the latest version OF the
story, the syndicate has been organized with
Mr. H s. A. Stewart at the head OF it and that
arrangements are about completed for putting
up 200 brick dwellings. Other members OF the
combine are said to be Messrs. Booth q Finn
and G. l. Magee.
AS an assurance that they mean business they
took out permit yesterday for Is souses, to be
erected on Negley and Stanton avenues, where,
j
Gated These gentlemen show the right spirit.
Pittspurg is badly in need of houses to accom-
modate the fast increasing population. few
such deals as the one in question would natur-
ally relieve the pressure. 1t would be advan-
tageous to the city, and profitable to them
withal. if other capitalists would do likewise.
Life insurance-or assurance, as our English
cousins put it-whicb was in the zenith Of its
activity Just after the Johnstown food, is now
in the nadir of its dullness. "People seem to
have lost all fear Of dying" remarked an agent
yesterday, "and very few Of them will talk
about insurance. We had little squirt OF
activity growing out of fears of an epidemic
from drinking Allegheny river water few
weeks ago, but the outbreak failed to ma
terialize and the community has relapsed into
indifference Health and prosperity are bad
for insurance men. A few financial crushes,
or a material increase in the death rate. would
help our business wonderfully. They make
people think Of the hereafter"
There was quite q squirt in building opera
tions last week, 20 permits being granted, in.
volving an estimated expenditure of S2l0,5N.
The largest was taken out by II. s. A. Stewart,
representing an East End syndicate, for 15
brick buildings. to be erected on Negley and
Stanton avenues, at a cost of s75, 900. The next
largest was issued to ]. F. Nader for a five,
story stone and brick structure on Fifth ave-
nue. Third ward, to cost 81, 900.
The East End Reformed Presbyterian
Churchwas granted a permit for one-story
brick building on Hiland avenue, which will
involve an outlay of gu, QUO. DR.. ]. s. Slocum
took out one for brick and stone three-story
house, Linden avenue. Twenty-second ward,
which will cost him Sl2 900.
Two others were taken out for buildings
costing 5000 and $4,000 respectively. Small
and medium-sized dwellings still have the call,
indicating that workingmen are investing their
surplus cash in homes.
A gentlemen in charge Of the mortgage de-
partment of leading real estate agency on
Fourth avenue, remarked yesterday: "Busi-
ness has been little slack for a few days.
have plenty Of inquiries. but so many capital
lists are out of the city that negotiations in
many cases will hang fire until their return.
There seems to be no scarcity Of money seeking
this form of invesement, although rates are
shade sitter than they were . month or two
ago.
"what effect the revival Of trade in the fall
will have upon my business I cannot tell, out
If it should be as active as expected, good
deal of money will probably be diverted to
other channels, which promise larger gains
but as lOok At IL less securitvb