Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-01-20
EVERYBODY PLEASED
With the Bright Outlook of the Local
Business Situation.
A WEEKS RECORD TO BE PROUD OF.
No Phenomenal Activity, but Everything
ona Steadily Growing Basis.
MONEY, OIL. STOCKS AND REAL ESTATE

Business the past week was in the direc-
tion of steady improvement in the volume
of transactions, and general hardening of
values, the only notable exception being Pc
troleum, which gradually yielded to pow
erful bearish influence that was both unac-
countable and unexpected. 1t was gener-
ally conceded that a big deal was being
manipulated, of which selling was prom
inent factor, with the ulterior purpose of
loading up heavily at Soc and under, and it
became known that there was heavy buying
in New York aed the West at these figures.
The combination working the deal may
change front any day and put prices up,
but it is probable it has not fully supplied its
wants and will retain its grip on the market
for some time longer. Considerable long oil
was dumped during the week.
The local stock market presented some inter-
esting features. There was lively demand
for all the specialties gas traction and electric
heading the list, but holders refused to re-
spond, except in cases of urgency Brokers at
tended the Exchange day after day with
pockets full of orders, but were unable to OBJ
tain what they wanted on terms satisfactory to
| their customers. These securities. with their
| growing possibilities, were considered good in
| Vestments, and those in possession of them
| were not anxious to let them 90. The result of
this was increased steadiness all along the line,
with comparatively few sales. The inquiry for
bank stocks was unusually urgent, but the fig
ures at which they were held were too steep
for ordinary purses. Practically they were out
of the market.
Real estate was active so far as inquiry could
make it SO, but the number of deals CO nsum
VIC fhor fboo txHoa
difficult to bring buyers and sellers to look at
prices through the same glasses This di-
vergence of views stood in the way of several
transactions. The sensation of the week among
real estate men was the so-called W ood street
deal, embracing an entire block to be used for
hotel purposes. Persistent attempts to run the
rumor down resulted in adding to the mystery.
All that could be learned of reliable nature
was that Fourth avenue dealer had sold
property on that street for 100000, or there
abouts, and that part of the purchase money
had been paid. All other information was
withheld. From another source it was learned,
in an indirect way, that the same parties were
negotiating for the adjoining block but that
there was slight hitch in regard to the price.
1t was promised that light would be thrown on
the subject this week. Inspector Frank granted
81 permits for new buildings-principally SIN all
frame resldences-Jhe estimated cost of which
is S4665S
Iron was shade frmer in consequence of a
slight Improvement in the demand, but there
was no change in quotations. The prospectfor
revival increases as the season advances.
Large prospective building operations, it is ex-
pected, will more than absorb the stock of
structural iron on hand. Pig already feels the
stimulus of increasing business Coal and coke
were depressed owing to the uncertainty of the
outcome of the labor agitation.