Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-04-06
A COSTLY PROJECT.
Objections Of Citizens to the Widening
of Diamond Street.
HARD FACTS ABOUT MORTGAGES.
A Remote Western Town Boasts of Supe-
riority Over the Gas City.
STOCKS STRONG AND PETROLEUM WEAK

Concerning the project for widening Dia-
name omitted said yesterday: 'It would
be costly improvement, and has, and will
continue to encou ounter, determined opposi-
tion. 1t would take % feet from every lot
on the upper side of the street from Smith
field to Diamond Market, and involve the
practical destruction of every house, some
of which are large and costly. The rear
part of the Opera House would be torn
away. This would involve large amount
of money. In view of the fact, as generally
understood, that it is a speculative move
ment, think there should be no attempt to
carry it out without full consideration of
all the interests affected. In regard to the
cost, justice to all concerned would seem to
require that it should be met by the property
benefited, and that no part of it should be laid
upon the public, as some have proposed"
The difference in the mortgage business be-
tween Pittsburg and some of the Western cities
indianapolis and Chicago for examples at
once striking and instructive. Here the money
thus obtained is used for the purchase and
betterment of real estate, which has fixed
value and is always worth what it costs. There
1t is used to large extent in speculation. The
cities mentioned, and some others in the Wild
West, are plastered all over with mortgages
for which there is nothing to show except
stock certificates and bonds of various wildcat
enterprises, whose inflated values divest them
almost entirely of the element Of security.
They could not hold up under financial pinch.
Pitrsburg could.
Old citizens still maintain that the food of
1882 was the greatest ever known in this part of
the country, and as proof point to the fact that
steamer drew up alongside Of the old Robin
son mansion in Allegheny and took furniture
ont of the third story windows. 1t then crossed
to this side of the river, steaming up Penn ave-
nue. as far as Fifth street, where it discharged
its cargo. The water where Hotel Anderson
stands was four feet deep. During the 1884
flood the depth of water at the same place was
not over two feet.
A Tacoma, W. T., paper, reproducing an ar
movement in favor of a Real Estate Exchange
here. pokes fun at Pittsburg, saying that it is
missing golden opportunities of making great
name for itself by much talking and little
doing. 1t admires our conservatism but con-
demns what it calls our lack of enterprise.
Our Far West contemporary should remember
that great bodies move slowly, and that al
though Tacoma organized Real Estate Ex-
change while our people were talking about
one, Pittsburg will eventually reach the stick
ing point and come to the front with an institu-
tion that will have national weight and inf1u-
ence. 1t would be unwise, however, to let the
project sleep much longer. The magnitude Of
the real estate business demands an exchange.
Dealings cannot much longer be satisfactorily
transacted any other way.
The following may give q valuable hint to
some one of the many able electricians in
Pittsburg: 1t is stated that travelling electric
light has come into use in Germany. It some.
what resembles the steam fire engine, the tank,
boiler, engine and dynamo being mounted upon
a wagon, which can be drawn by team of
horses to any desired location. When the ap-
paratus reaches its destination, arc lamps are
raised upon poles stayed with wires fastened to
stakes driven in the ground. The whole plant
is simple, and stated to work satisfactorily.
uThe following is list of patents that will ex-
pire ApriI9 The devices may be appropriated
by any one SO disposed: Compound imple-
ments, ]. G. Schlarbaum; furnace for treating
ores, ]. NJ Reid; manufacture of iron, ]. Alb
sterdam; manufacture of iron from mill Gin
des, c. M. Mes; metal turning lathe. ]. W.
Hyatiii; hosting appar atus, ]. D. Warner: gas
apparatus, J. II. Steiner; breeeh-loadlng fire.
arms H. A. Schesch; rotary engine W.
Darker: electric magnetic engine, W. 6.
Thornton.