Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-05-14
LANDS AND HOUSES.
A Revival of Public Interest in the
Local Real Estate Market.
AHEALTHY ANDGROwING DEMAND
Important Deals Just Effected and Others
in Course of Development.
STOCK BROKERS PLAYING FREEzE-OUT

Real estate is holding its own as lively
interest in Pittsburg, and it is daily absorb
ing large amounts of capital, no other
security promising so substantial return
with SO little risk. While the daily reports
in The DIsPATcH show large movement
in all parts of the TWO cities and suburbs.
there are many other deals of equal and
often of greater magnitude which are with
held from the public for prudential reasons
One of these occurred yesterday, but very
little beyond the bare fact could be pumped
out of the agent through whom the transfer
was effected. 1t was the sale of a downtown
business property at price approximating So
600, payment being made in spot cash.
Following upon the heels of this deal came
the report of a sale near the upper end of Fed
eral street. Allegheny involving fine resi-
dence, the price being put at $4,000. These
and other transactions occurring every day,
show that there is no abatement of the interest
that has for the past six months or more charac-
terized the local real estate market.
Stock dealing was rather slow yesterday,
business being confined to a narrow selection
of favorites, all of which, with one exception,
that of Electric, showed a decline from Satur-
days closing quotations There were plenty of
orders for them, but brokers are a sharp set.
and know pretty well when to go in and when
to stay out They never load up on a declining
market, or when there is prospect of a slump,
although they may be as ravenous as wolves.
That would be giving themselves away, and it
would be proclamation to the other side of
their intentions, which would Immediately be
taken advantage of.
They have the peculiar faculty of so yelling
their desires as to conceal the most intense
anxiety behind a countenance expressive of
total indifference. They did that way yester-
day. Many. of them wanted stocks, were
hungry for them in fact, but they thought by
waiting day or two longer they could buy
them at a lower figure. This was the only
reason for the depression of the market, as
there was no change in any of the companies
represented on the list. A good buying de-
mand is all that is needed to lift the stock
market out of the rut. 1t will come along one
of these days. The bears won't be allowed to
rule the roost forever.
Persons visiting the suburbs now, when field
and wood, garden and grove are arrayed in a
livery of green, are not surprised at the great
demand for houses and lots in those beauty
spots which surround the city like string of
pearls. They are certainly charming places in
which to establish homes.
There was an active movement in the real es-
tate market yesterday, Notwithstanding it was
wet as well as blue Monday. Most of the agen-
cies were favored with good run Of custom
ers, buying or making inquiries as the fcun-
dation for future purchases. A growing de-
mand was reported for property out Fifth ave-
nue., which is fully up to Shadyside in point Of
popularity, and with better assortment Of
properties to select from. Lots at Maplewood
Park, Williamsburg, are going of like hot
cakes, scarcely day passing without several Of
them being sold. More attention is being paid
to Mt. Washington, as its advantages as place
of residence become better known. There are
few localities near the city which offer superior
climatic and sanitary advantages to those wish
ing to establish homes. Desirable lots there
are offered at very moderate figures, fancy
prices being unknown.
Among the sales reported yesterday the fol-
lowing are noted: Business property, 444 Fifth
avenue, So 500; lot 50xl4O, Liberty avenue, near
Winebiddle, S2925; two lots, MaDlewood park,
S425 and $500 respectively; house and lot, Ems
worth, S., 500; also vacant lot same place, $3.50;
lot, Boundary street, Oakland, S2l5. Several
mortgages were placed on residence and bust
ness properties.
The Chicago Tribune of Sunday remarks:
Local real estate affairs kept up loud and
lively hum last week. In many respects it was
one of the most satisfactory weeks of the year,
and to the majority of dealers in was one of
the busiest. 1t was satisfactory because it con-
tanned unmistakable signs that the present
strong market has long lease Of life ahead.
For two or three weeks previous there had
been comparative dullness and dealers had be-
gun to ask themselves if the lulI was going to
develop into a full stop for the summer. Last
week answered that question in a most en-
phatic manner. The best feature Of the mar
ket was its broad and healtful character. There
were no signs of speculation, no feverish in
terest in any particular class of property.
There was good buying Of acres. but there was
no craze for them. Buyers were careful and
conservative and were disposed to subject
values to all possible tests before investing