Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-06-11
A BETTER FEELING.
The Paralyzed Hustlers Recovering
and Getting Down to Work.
LUCK OF AN INSURANCE COMPANY.
Is the Real Estate Exchange Project Defunct
or Merely SleepingP
A FORMER PITTsBURG MAN IN CLOVER

There was more buoyant feeling INDUS
iness circles yesterday than since the dis
tressing occurrence in the Conemaugh VAL
ley. Bankers reported more applications
for loans, stocks were more active and oil
was stronger. In general trade there was
liberal movement. Stocks in nearly all
lines have been materially reduced, in con-
sequence of donations and sales for the ben
eft of the sufferers. Business people are hope
full of a good trade the rest of the summer.
and of an unusually busy season next fall as
result of the large expenditures necessary 10
restore the devastated district and succor the
unfor.unates.
WP. Woodbridge, of the Mutual Life Insur-
ance Company, of New York, returned from
Johnstown yesterday, where he had been TO
look after the interests of his company In
brief interview he said: 1--WE are carrying
about $500, 900 in policies there, and SO far as
have been able to ascertain our losses are prac-
ticsy nothing, nearly all our patrons in the dis
trict having, with remarkable good fortune, es-
capped with their lives. We may. however, dis
cover additional losses later on. If the calamity
had happened at night there would have been
comparatively few escapes, and our losses
would have been very heavy. l understand
that some of the other local companies lose con-
siderable, but how much do not know 1t is
safe to say that all losses will be promptly
paid"
George Mason, formerly of Williamsburg, now
of Tacoma, W. T., has written to friend at
his former home as follows. Business in lands
and houses is booming here. Some choice lots
on the main street have brought $1,000 atront
foot Houses are going up in every direction
many of them large and costly. The business
houses will favorably compare with those OF
any other city in the West All real estate
transactions are conducted through the Ex-
change, which works admirably, They were
talking about Real Estate Exchange in Pitts
burg when left there. Has it been estab-
lished? If not it should be without delay. 1t
is a great advantage to all dealers in realty.
This city, in my opinion. is destined to become
one of the most iourishing in the Northwest
There are several Pittsburg men here, and con-
siderable Pittsburg capital has been invested
in various local enterprises"
x%$
TWENTY-FIVE mortgages were placed on record
yesterday representing $4,000. The largest
were: S5,0OO $4,000, s., 900 $1,000 and l,9OO-all
home money. A real estate dealer said: I'VE
have done a big business in mortgages this
year-larger than ever before in the same time.
How do 1 account for it? Well, capitalists
seem to have found out that real estate is a
good and safe investment. That is one reason.
Another is the abundance and cheapness of
money. I know of several instances where
money borrowed at 8 or So per cent and in
vested in unimproved lots has returned profit
of Is or 20 This was not imitation, but legiti-
mate expansion and enhancement caused by
the rapid increase of population. People must
have homes"
Real Estate Exchanges have proved so beneti-
cial wherever they have been introduced that
the neglect to establish one IN Pittsburg is al
most unacceptable. From the talk among
real estate men last winter and in the early
spring it was conjectured that this omission
would soon be repaired. but months have
passed and the realization seems as far off as
ever. Why this apathy? II cannot be because
a majority of the dealers are opposed to the
scheme, for the reverse is known to be the case.
Nearly all admit the necessity of an exchange
to properly handle the rapidly growing busi-
ness. The true reason, probably, is the lack of
efficient leadership to push the project. He
who will do this will deserve, and will receive,
the applause of his fellow-citizens. 1t is too
important a matter to be allowed to die for
want of nourishment.
The Southern Lttnabermdr says: "a friend in
Pittsburg complains that cypress shingles
shrank so as to cause leaks and he had to re-
new his roof with pine shingles. The fault was
most probably in the workman, and not the
shingles. ga shingle is piece of wood l6 to 20
inches in length, from 5l6to Il of an inch thick
at one end. and from II to l-S2 at the other. and
inches in width. But there are dimension
shingles. and random width shingles. A dimen-
sion shingle means that all the pieces in the lot
41. sno1,ao ;e& a.
ite width, and each piece is q single and
fourth-that is, four pieces count five shingles.
Random width run all the way from. three
inches up to foot in width. Some carpenters
call foot wide piece shingle, but it is three
shingles in one piece. A man that will nail
a random width over eight inches on the top of
a house ought to quit the carpenters trade, and
get place in a bakers shop. Then if he spoils
job he can eat it."