Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-09
A NATIONAL BANK
Talked Of for the East End, With Prospect
of MaterializinE.

Talked Of for the East End, With n Prospects
of Materializing.
There is q movement among East End
business men to establish a national bank in
that part of the city which is considered a
good opening for such an institution. A
considerable part-nearly one-half-of the
proposed capital, 100000, is already as
good as taken.
The names of the projectors are withheld
for the present. but they are all prominent
ana influential citizens of the East End. A
meeting will be held in few days to settle
the details, such as name location, ETC.
Although business last week had number
of depressing influences to contend with
fires, some failures near and far, and large
installment of execrable weather-it came out
of the ordeal with flying colors. The bank ex-
changes were over $2,000,00O in excess Of the
corresponding week last year. There was no
scarcity of funds for legitimate business.
The speculative markets were, in the main,
dull and weak, though an occasional rally
served to keep them out OF the rut- A large
number of important transactions in real estate
furnished abundant proof of great activity in
this branch of business. The demand for hOli-
day goods was so great that some of the dealers
had to increase their clerical forces.
The sale of two large buildings and grounds
in the East End for $4,000 was noted in The
DISPATCH two or three days ago, but particu-
lars were not given. Some additional informa-
ton was obtained Saturday. The property
comprises the elegant mansions of Simon Bey-
mer and the late r. G. Schmertz, on Fifth ave-
nue., Bellfeld, with grounds occupying square
between Craig and Neville streets. The price
as originally given is correct The purchasers
names are withheld for the present, but they
are both prominent business men, and they
will occupy and improve the properties.
1t was reported on the street that the nego-
tiations were conducted by Messrs. Black &
Baird, but when questioned about the matter
they declined to say more than confirm the
facts as above given.
The new coke works at Grindstone station,
on the Redstone branch Of the Pittsburg, -Vir-
ginia and Charleston Railroad, when finished,
will be one Of the most complete coke and coal
plants in Pennsylvania. All the latest and most
improved machinery for hosting and hauling
is being put in, and grading for LOCO coke ovens
is being pushed as fast as the weather Will
allow. Two shafts are completed, each to a
depth of 236 feet, at which point fine nine
foot vein of coking coal was found.
Although trading in stocks was very light Sat
urday-only 81 shares of Electric-a majority
feeling was apparent all round. few good
buying orders would make business brisk
Philadelphia Gas continued its upward move
ment with BOZ bid and 3036 asked. Only few
small lots were offered. Luster was anot he
bright spot, advancing to 1917 bid and 20 asked.
bids with two exceptions Electric was trac-
ton off, Several hundred shares were offered
at Al without takers. The fractions showed no
decided change. Railway stocks held their
own. They are considered the best properties
on the market.
The following table SHOWS Ine prices OF active
stocks on the New York Stock Excnange yester-
day Corrected daily for THE DISPATCH by
bers Of New \ ork Stock Exchange. Fourth ave-
nue.: