Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-16
AN ALLEGHENY BOOM.
Over 200 Houses Built in the Pleas
ant Valley District This Year.
THE GREAT sCHENLEY ESTATE.
Groundless Fears That 1t Will be Worked
to Smash the Realty Market.
1T WOULD BE AN ELIXIR TO TRADE

|
grace, that of which the Allegheny City ter
minus of the Pleasant Valley Railway is
the center should not be overlooked. The
Improvements there or thereabouts have
been so great as to completely change the
appearance OF the locality.
Over 200 houses all of them dwellings,
have been erected there since January 1.
The majority of them are completed, and
the rest will be in short time. The principal
builders have been the Keystone Land Com
| pany and William McCreery. But few vacant
lots remain, and the most of them are situated
on the hill Few places of equal area and pop
ulation can show such record.
Fears are expressed in certain quarters, and
by men, TOO, whose opinions are entitled to
respect, that the opening up to purchase of the
| great Schenley estate would either smash the
| local real estate market, cripple it so badly
| that recovery would be the work OF years.
There is no apparent reason for this pessimistic
| view of the matter. Unimproved property has
| been picked up so fast for year or two that 1t
is comparatively scarce, and new sources OF
| supply are needed to keep values within reason
able bounds, so shat people of limited means
mechanics, artisans, and laboring men, may
have a chance to acquire homes. Whatever
has a tendency to prevent them from owning
| the houses in which they live is public
| wrong.
If the opening up Of the Scheniey or any
other property, shall have the efect OF making
it easier for people in ordinary circumstances to
become proprietors let it be opened up regard
less OF whether 1t viii smash the market' or
| not
But "nat Il tne argument OIL 'no'e "nu az eos
" peneve .hat tns =, ,a1r,ose
tne market "ouiu cause ieHo. - Sr
nis' III snoF~ 'na' ~ "ouiu nieAe ne Pp!
greatef tnan tne oenanu' anu .n@s W eHeT
saies CONCESSIONS "ouiu nave w Do
thls 'ne iac' VI - ~ ne,o su100 -
iac'' ~ 20 q ~ ie' W .no'e w -
close "aIcn over rear es'a.e mo,euIs 1sso e,e,
slnce Inc rerNai ilon 'ne oiaeu oA Ao'o' "uu
more especiaily ior the past s"o VI IIree Se@ts'
WITHIN wnlcn Time vast amount oi properly
mas changed nanos-so mucn' inaeeu; tnat .ne
complaint Oh ascarclty OF goou Duluins SIZES
nAs peconio CHI onio, anu 'no ~ 80.
nave nao 70 60 from nve 10 eisu' nles toni
tine business part Oh tne CITY ioi io's "nion
conlormeo 10 their views III sisua'ioh anu Ptioe'
Ihls gave o"heIs Vi ui oan ianu q stesV . az. an
tase over ouyetS aS ~ 'u :. W
Piivee' U Soi1 CIV u - -
eAllnsuioneu 'ue nopee y. VIC poe. -.
soIne va! o"nius q t oio "i.- - Ivy
1nis Is geneiai sId.einent % 'ne S"oe, "nu
sne eAcep'ion' u D.. auu ~ Sra n
Iioin -ts :. " .ha.
,OI - So r,;.h;,, tho
'neie 70 uoA, VA =. en- es :" pi- s-..saS
teSou "a Peop-e =. s..a.t -. -. ss =
an aoequa'e reason "ns s11 open.ns ~ la ~
ne" souroe VI supply "ou.u O' puOio O0NeA'
..,o- .,,.,o- .h;rr shor,d bo
~ .alo -. - 81 ,,,a-,,ot
consiueieu. 1isn piIoee 81 -. -
oeFei@i Instances ~ - ~ pio0 - Is.;.,o
clteu- "A ye@i y, WV aso sIeiI 1,s ""s a -
moVement out eln A'enue, ,'is.a. io,uo, .nA
tns 'n"s sse sue e., osIrad Co. ad
ae..oS ,-aIras X 20 Ok ner cant The resu1t
was tnSs T.s GU. - .ha a;t,, =
Ln.'ineu INxs unso-N ~ 1,
ass ~ Is ,d ts 49, go y the
orIy nov 70 ,,ointoin activity in real estate ;s
- -, ,,oI,,as Nv a 1oxoI With tbe aemond and
-. - e. =, o,r.roo 81 n os to h,ock tronsac.
.;o.s 80 -
%. ,,,ofr, .,,,,, +ho,, fo,,,,o-,,-
rn.;o,s soia of Io+s n . nairhbo-
s.-a.L - -. 80 rears ooo 60 o-roa+ 1Sae
the o~citemsnt and 90 clamorons the nnrcbas-
- -. g., oo-or,,- tool, onntbinr +h.+ ,ros
s..s go. ,ac,,;nr - - 80 n-;+t -
eN I e.s: ae -. -.
kno"leuee, peieonai Vi 1'nsi "ie., =. -so ioOa
sion ot - nS iot. ,'4 :; tt o, t,ar
81 -, - 81 ,,,,.;o,,oor. go,
in"uo 90 na.sisa o,aa.e -, 49, ,o.y
ing. nj. p .Ltr.
hls was ". .~' pa. e sro.as sisea-
nIc.eu tneoy business - o;.o ",.S a,n. -u;.,,
.,i no" - taIino a,s-sthi,o +hat is ot
60, -, ,r;thort 1oferenca to vaIne Ioco-
49,. - an,.b;no aIso Tbsv co from, ono AGENT
..r a, ,,os. of horc,o;,s +ho so,,o os
. ano - .rrroods ~ otio- corn,ndi+ias
is a good, healthy sign of stable real estate
market, and while it makes boom impossible,
it is also guarantee against an undue depres-
sion.
80
The opening up Of the Schenley estate, the
bulk of which is beyond Oakland, would throw
into the market one of the most desirable resi-
dence districts in or near the city. 1t would
afford another and much-needed outlet to the
country of the urban population, to the great
benefit of business, which is suffering for to
admit of expansion; and it would attract popu-
latlon IN tne nope ol securing homes AZ lalr
prices. Rapid transit would quickly follow,
making it easily and quickly accessible to all
classes of people doing business in the old city,
This would stimulate the demand for building
sites, and it would soon be covered with houses
The Danger NOT tnat !. "ouia smasn tne
anu DcRcb duO1uCi SiaAo, VI OH 30 tAO uCeI