Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-07-24
UNDER THE HAMMER.
Lively Bidding onthe Newell Estate,
but Not Up to the Mark.
THE WILLIAMSBURG WATER WORKS.
Beaver Falls Glass Company About Ready
to Resume Operations.
HAPPY TOILERS---TIPS FOR INVESTORS

HAPPY T0ILERS..-TIPS FOR INVESTORS
W. A. Heron & Sons offered the Newell
estate property, corner of Forbes street and
Shady lane, at Orphans Court sale vester-
day. There was quite an active bidding,
which run the property up to S31, 500, but
the administrator withdrew it on that bid,
and postponed the sale for one week.
All the right of way for the pipe line of
the Pennsylvania Water Company, more
familiarly known as the Williamsburg Water
Company. has been secured from the pump
ing station at Wildwood, on the Allegheny
river, to North Braddock, a distance of
about six miles. From information derived
from members of the company yesterday it
can be stated with a reasonable degree of
certainty that the entire district through
which the line passes will have full sup
ply of water by September 1. Work on the
reservoir, pumping station and on the portion
of the line not yet completed, Is being pushed
as fast as possible.
l was informed yesterday that the Beaver
Falls Glass Company is about to commence
operations after long spell of idleness. during
which extensive repairs were made and an ad-
dition built to the plant. Before this improve
ment the estimated value OF the works was
$4,000
The most effective argument for protection
is to point out the condition of the working
meIland women in the most prosperous indus
trial settlements of the country. On June %,
Labor Commissioner Hotchklss, of Connecti-
cut, invited the Commissioners of Labor Stats
tics to an inspection of three of the largest
and most prosperous silk and cotton mills in
New England. They found that they were
finely lighted and ventilated, with beautiful
grounds, on which were scattered the neat cot
tages of the operatives, decorated with flowers
and hidden by vines. They saw mills filled
with busy workers. surrounded by beautiful
growing plants. They saw smiling faces and
ruddy cheeks, bright eyes and cheerful counte-
nances everywhere. They saw workmen's cot
tages adorned with brussels carpets in the par
lors handsome shades and flowers in the
windows, sewing machines, organs and even
pianos. These substantial evidences of thrift
among the toilers under the present tariff sys-
tenn are not confined to New England. They
abound in Pittsburg. where brussels carpets
and pianos are too common to attract atten-
tion, and where, which is far better, a large
proportion of the workingmen own the houses
they live in.
A stock broker remarked yesterday: "The
real estate people are encroaching upon our
domain. A number of our former customers
have dropped stocks like hot potatoes and are
putting their money in realty and mortgages.
The only objection have to this is that it is, to
some extent. hurting our business. for ali must
admit that real estate is a safe and profitable
investment. However, I look for stocks to
brace up before long, and then we may be able
to hold our own against the real estate deal
ers."
If men will speculate they should do SO
understandingly. There are two ways of max
ing money on Wall street-a rule for the in
vestor and rule for the operator-which, if
followed, will almost certainly lead to success.
The first rule is to buy only the securities of
corporations with which the investor is entirely
familiar. The second rule is to buy in seasons
of great depression, paying outright for what
you buy, not purchasing on margin. and SELL
ing with the rise which must inevitably come
To understand all about railroad, you should
either be connected with its management or
operations, or make it a subject of special and
diligent study and investigation. The most
successful men on Wall street-inyestors not
spectators. all the men who have made great
fortunes-have followed one or the other of
these two rules. Any man who goes into Wall
street to speculate bindly, without o knowl-
edge of the property which he buys. and with
out reference to the condition Of the money
market, of trade generally, of our exports and
imports. Of gold shipments and all the factors
that enter into the calculations of shrewd
fnanciers. must inevitably be a loser.
The condition of real estate is good for the
season, and there is every indication of rather
more than usually active fall trade. The in
quiry is largely for houses or lots on which to
build, and only to small degree for specula-
ton.
The New York Stock Exchange has an sun-
listed" department, where corporations trusts
and possibly other concerns whose legal status
is not well defined, can have their certificates
dealt in without making any statement as to
their finances or operations. To the public it
simply appears that these various certificates
are dealt in at the New York Stock Exchange
and under its sanction and authority. and the
mere title of unlisted" does not move the re-
sponsbility in popular estimation any more
than sub-clause in fine type removes the
responsibility of an express company or a life
insurance company. This exposition of what
borders very closely upon fraud, should open
the eyes of the public to the danger of dealing
in this class of securities.
The actuaries of America have formed an |
association. At the first meeting or rather the |
meeting for organization, which was recently |
held in New York city, there were present |
large number of them. representing the princi- |
pal life insurance companies of the United |
States and Canada. The title of the associa- |
tion, as adopted, is the Actuarial Society of |
America, and its objects are those of promot- |
ing this special department of science, by per- |
sonal intercourse and, otherwise, through the |
reading of papers, discussion, and such other |
methods as may be thought advisable. II the |
sOciety follows up its purpose-and there ap- |
pears no reason why it may not-the fraternity |
and the cause Of sound life insurance greatly
promoted.