Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-18
REALTY LOOKING Up.
A Good Inquiry for All Kinds of
Property in City and Suburbs.
CAPITALISTS ARE INTERESTED.
Some Plain Talk Anent the Decline in
Philadelphia Gas Co. Stock.
WORK IN THE WILLIAMSBURG GAS FIELD

An apparently we'll authenticated rumor
obtained considerable currency on Fourth
avenue yesterday, to the effect that fine
boulevard is to be made at Oakland by
changing the course of Ward street, so as to
run it directly through the Mckee property.
According to information received, the
boulevard will be $50 feet wide, with grass,
shrubbery and shade trees, and good class
of houses on each side A thoroughfare of
the kind indicated would add immensely to the
already great attractions of that fine district
xS>
There has been a remarkable revival of in
terest in real estate within a week or ten days,
and the outlook is good for an active market
the remainder of the season. The inquiry is
confined to no particular locality, but extends
to every part of the city and suburbs. The de-
mand for business sites is better than for a long
time, while building lots are eagerly sought
for. Values are little higher in a few favored
localities, but as a general thing they show
very little change. Capitalists are taking more
interest in realty this fall than usual, and many
Of them are putting their money in it instead of
mortgages, as they have figured out that it
pays them better.
Speaking of the rapid decline OF the stock of
the Philadelphia Gas Company, a Fourth ave-
nue. broker said yesterday: "The statements
of the company that the plant is in better con-
dition than ever before that there is plenty Of
gas, that recent shortages were due to the fact
that new mains were being laid and connec-
tions made. and that earnings are largely in
excess of last year. do not harmonize with the
facts as understood by the public. If they did
the stock would be away up instead Of away
nnh I do anf hall q 90 q iG
giving out at the wells, it is certain that it is
giving out in the pipes. While the company
persists that there is plenty of gas, consumers
say they have barely enough to get along with,
and sometimes none at all. 1t is this
that is hurting the stock 1t is probable
that the company has undertaken greater
task than it can perform. The mistake seems
to be that it is seeking to supply large part
of Allegheny county when it has only enough
gas to properly supply Pittsburg. If it would
limit its business to its capacity and not en-
deavor to drive away other companies by in
vading their territory, by acting the hog,
in short,-it would get along all right
and stockholders would not suffer. AS
to earnings and all that while I do not pre-
tend 20 say that the company's statement was
cooked" everybody knows that it is easy to
make figures. think more conservative
management-more regard for the interests Of
the many who have bought the stock, and not
SO much for the few on the inside-would bring
the company out all right 1t is matter of
great importance to Pittsburg, and there ought
to be no shenanigin aboutit"
Contrary to general belief the Williamsburg
Natural Gas Company has not surrendered the
hope of finding gas in paying quantities on
the Weymond place, near town, but is quietly
at work on we'll No 2 which is almost down to
the sand. Experts who have examined the
well say the indications are good for No. l
producer. The oil well is still plugged and
nothing will be done with 1t until the result of
the new venture is known. as it is intended to
make it the final test of the field. Members of
the company think they will come out all right
yet
Several important deals in downtown prop
erty recently stimulate the hope that that part
of the city is on the eve Of an improvement
boom, of which it has long been in need. In
point of location and facilities for the transac-
ton of business, it is the most valuable part of
the city, but the buildings, for the most part
relics of bygone age, are totally inadequate
in size and convenience to trade as it is now
carried on. Their substitution by frst-class
structures would divert large volume of busi-
ness to that district which otherwise will 90
of property down there are wise, and do not
want to make improvements themselves, they
will abstain from asking fancy prices of those
wanting to purchase and are willing to pay
a fair consideration, for the privilege of in
vesting their money In improvements where
they are most needed.
With the exception of plate, which has
hardened little, there has been no material
change in the iron trade since last week. Rails
are firm at $50 and thereabouts. The mills are
very busy on orders, which they cannot fill fast
enough, although running night and day. New
business for early delivery is out of the ques-
tion. The prospect is for continuance Of
activity throughout the season. In regard to
prices. a broker remarked yesterday that he
thought they had about reach ed high-water
mark A further advance would be injurious
to the trade, as it would start up many old
plants now idle and lead to overproduction,
and perhaps foreign competition.