Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-05-22
FUTURES LAID OUT.
TitusVille Decides Oil Brokers Must
Stick to the Old Plan.
THE QUESTION FINALLY SETTLED.
Review Of the Real Estate Situation from
the Standpoint of an Agent.
A LIBERTY STREET DEAL CLOSED UP

The vote of Titusville yesterday settled in
the negative the question of dealing in oil
futures After the close of business many
brokers hung around the Exchange teIe-
pranh office to learn the result, and when it
came there was both qualification and dis
appointment expressed, according as the
men receiving the news were friends or op-
ponents of the departure As Titusville
was all that was requiredto defeat the rules,
nobody waited to hear from Bradford, which
was still wrangling over Rule 8, which pro-
vides for dealing in certificate oil.
I'VE might as well shut up shop" re-
marked friend of the change
'To-day's business don't look like it, Z" re-
piled one of the other fellows eff we al
ways do as well we ought to be satisfied.
think that the market will improve now that
this wet blanket has been removed. Its adOp-
tion would have buried the market out of
sight"
Real estate is trife dull as compared with
the early spring boom. but that it continues to
be lively element of business is shown by the
reports of sales published daily in this depart
meDt of The DISPATCH. In support of this
statement an agent said yesterday: II am
almost as busy as at any other time this season.
There is a steady, 1 may say growing, demand
for nearly every description of property. am
negotiating the sale of several business sites on
the Southside. Unimproved lots in the sub
urbs are in as great demand as ever and scarce
ly day passes without more or less sales. The
number of houses going up in and about the
city is highly gratifying to the friends of i'm
provement. wouldn't be at all surprised If
the original estimate of 900 should be reached.
Pittsburg is growing faster than at any other
time in her history"
sis there any reason to apprehend tumble
in prices?'
mo. think that impossible under existing
conditions. There has been no boom-no
furry. Purchasers have proceeded cautiously
The enhancement in values has been the re-
suit of legitimate demand, backed by abund-
ance of capital, for which no equally safe and
profitable investment could be found AS most
OF the purchases are paid for and,nAve been or
will be built on and occupied by their owners, 1
can see no reason for reaction. 1 think real
estate has moved up to stay. The rapid growth
of the city demands the constant enlargement
of its boundaries and the erection of thousands
of houses every year to accommodate the in
creasing population. This alone is sufficient
to keep prices at the top. 1 think property
purposes is worth all that is asked for it. l am
not aware that any purchaser has lost money
On the contrary, 1 know of many who have
made snug little fortunes. Hundreds of re-
sales have been made at a handsome profit
There is scarcely piece of property in the city
or suburbs that could be bought to-day for the
price that was paid for it six months or year
ago. As an instance of this I may cite one
case in my own experience. Three months ago
n lot in the upper part of Edgewood, owned by
the National Bank of Commerce. was sold for
s., 500. Last week the owner was offered 5000
Tor it"
''Do you think prices have reached the top f''
''For the present probably they have. 1
think so for several reasons. The demand is
not quite so pressing as it was earlier in the
season. This is always the case in summer
Hot weather seems to take the snap out of peo-
pie. Then, again, the unsettled condition of
tiron trade. rendering the income of thou
of Wage-workers uncertain, will deter
them IRON investing until they can see their
way clear to meet payments promptly. Still,
look Tor steady movement all summer, and
for revival, with possibly higher level of
values, next fall. Everything is in good shape
to justify this anticipation
Among the important deals in realty that
were consummated yesterday was the sale by
c. 81. Love, for Andrew Jaekman, of twolots
Nos. 4Sl and 4SS Liberty street, having front
age of 4S feet to L. II. Voigt and T. E Ash for
SS5, ,0o0-a trife over S9OO front foot, which is
considered a very reasonable figure for that
locality. There are two two-story buildings on
the property which will be torn down to make
room for large business house. This and sew
eral other recent transfers of property in that
part of the city show that it has been aroused
by the spirit of improvement and is deter
mined to do its part in the work of making
Pittsburg the model city of the country,