Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-04-23
MAKING A NEW CITY.
Old Buildings Rapidly Giving Way to
Others of Finer Appearance.
THE PITTsBURGER is ABROAD.
A Business Man Kicks Against Sacrificing
Property of the County.
REAL ESTATE STILL A LIVELY ISSUE

Old buildings must go, and they are going
in every part of the city as fast as they can
be torn town; and their sites will soon be
occupied BY modern structures of brick and
stone that will please the eye and cultivate
The taste. Old Pittsburg is passing away,
little by little, and a new Pittsburg is
taking itsplace. This spirit of improve
ment-this keeping step to the music of
nineteenth century progress-will soon
place the Gas City abreast of any of its
rivals in point of architectural elegance. The
widening of Diamond street would hasten this
consummation, which is SO devoutly to be
wished.
Pittsburgers are making their mark all over
the Western world. They are found wherever
great enterprises are being pushed that require
money and brains. Said gentleman yester-
day afternoon: "It would be hard to find
place or business without Pittsburg men and
Pittsburg capital. They are in Russia, in
China and Japan, in South America, making
railroads and running steamboats,; in Alaska,
developing the mining industry of that won
derful territory;in Mexico, doing the same
kind of work; in Seattle, introducing steam
cars and electric lights; in Southern California,
engineering real estate boom-in fact, they
may be found wherever enterprise lifts its
head. No better tribute than this could be
paid us. Piutsburg is proud of the achieve
ments of her sons whether at home or abroad"
There is great activity throughout the South
in building cottonseed oil mills, a dozen of
which, to cost S. 100000 or more, having been
projected in the last two weeks, while there is
report that a 100000 company has been or
ganized in Philadelphia for the same purpose.
The new mills reported are nearly all con-
templated by independent companies not con-
necteu with the Cotton Oil Trust. The boom in
this industry should open up a good field for
Pittsburg machinists.
The scheme to sell the county buildings does
not find much favor with business men. One
of them said yesterday: II think the county
can afford to hold this property. 1t don't need
the money. To sell it now, on rising market,
and with prospect of the improvement of
Diamond street. which would add thousands to
its value would be financial blunder, for
which it would be hard to find an excuse. The
men who are after it understand this perfectly
well. and Will leave no means untried to ac-
quire possession of it, but hope the Commis-
sioners will resist all pressure, and allow the
title to remain where it is. The time may not
be far distant when the property will be needed
termined to sell.it a delay of four or five years
would almost double its value"
Some of the Pittsburg bankers complain that
certain manufacturers. when in need of money,
borrow it in New Y ork. They get it at a slight
ly lower rate of interest but it costs them as
much in the long run. When due it must be
paid. If borrowed from local bankers the notes
could be renewed if the makers were hard up.
The main objection to this sort of business is
that it completely ignores the principle of pro-
lection TO home industry, which is the link that
b Ids all branches of local industry together.
Commission people generally are of the i'm
preston that the next pronounced movement
| in the market will be Ill the bond department..
The prospect of the ease of money encourages
this belief The speculative issues of first
mortgages will, it is thought, take the lead.
The inquiry is good and the supply, even at
the recent advance, is by no means pro-
nounced.
Among the real estate transactions reported
yesterday were the sale by c. Beringer & Son
of FIVE acres at Osborn station for $4,000, and of
| two houses and lots on Ellsworth avenue by
W. II. Heron & Son for $1,000. Other sales
were less important. The demand for real
estate, improved and unimproved, is as active
and prices are as strong as at any previous time
| this season,