Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-26
ON THE RIGHT TRACK.
The Owners of Realty Show No Dis
position to Force Values.
MARKET IN EXCELLENT SHAPE.
Pennsylvania Railroad Schemes for a
Passenger Depot Downtown.
SOME DIFFICULTIES POINTED OUT

There continues to be strong, healthy
feeling in the real estate market. The de-
mand for business property in good lOca-
tions is on the increase, while that for small
houses and vacant lots show no diminution.
Blu. the best feature. perhaps, of the mar
ket is that owners are not, as rule, losing
their heads and advancing prices to point
to deter buyers. Adherence to this policy will
insure q continuance of activity for an in
definite period Enhancement will naturally
follow improv ement and increase Of popula-
tiOn.
A great deal Of wild talk is heard in regard
to alleged negotiations Of the Pennsylvania
for a site for a depot downtown and number
of visionary real estate schemes have been
sprung upon the public as the direct result.
While the railroad authorities appreciate the
Importance of landing passengers in the heart OF
the city, instead of the outskirts. as now. and
would pay handsomely for the privilege, they
realize that there are great difficulties in the
way, which they may not be able to overcome.
Their capital is not limitless nor are they
endowed with autocratie power. Hence, while
they may propose, others may dispose. 1t
takes two to make a bargain, even with the
Pennsylvania Railroad.
The corner of Fifth avenue and Smithteld
street is one of the best business locations in
the city, and its acquisition by the railroad
would be a master stroke of policy, but the cost
would be enormous, without counting the
heavy expense that would have to be incurred
in opening up way to it through Cherry alley
or any other thoroughfare, or even by the ele-
waited system. If through the alley, all the
abutting houses would have to be torn Gown
to make room for at least two tracks. 1t is easy
to see from this presentation of facts that the
project is Of such magnitude as to render 1t
impracticable at present, if not for all time.
As to the Dostofice, mentioned in the same con-
nection, if the Government shall conclude to
sellit, John Smith will have as good chance to
become its owner as the Pennsylvania Rail-
road. In business matters Uncle Sam is no
respecter Of persons. The color of one mans
money is as good as that of another. Beside,
there is nothing to base the opinion upon that
the property will be sold.
Should the Pennsylvania Railroad build a
depot downtown at all it is far more probable
that it will be on Seventh avenue, between
Grant and Cherry alley, or at Fifth avenue and
Grant than at Fifth and Smithfeld. The ap-
proaches to either of these locations would be
comparatively easy, a great deal Of expensive
right of way would be avoided and passengers
would be brought far enough downtown to
overcome their objections to the present depot
by halving the distance.
This talk ana these rumors about the railroad
building depot downtown are not new. The
subject has been agitated for generation or
more and its revival at this time has no more
significance perhaps, than on any of the
former occasions when it was ventilated-and
settled. While some one of the many plans
,ioH 2 fho ruflr are n
cussing may be carried into effect sometime, as
a matter of necessity, real estate owners who
are building hopes of high prices on mere
rumor are making what may turn out to be a
serious mistake. 1t is certain that the railroad
people have no thought of buying the city.
A new refining company has been formed in
Ohio the organization of which has been going
on very quietly for some time, and which has
been the subject of a number of conflicting dis
patches. The new company is to be known as
the Geyser Oil Company, and it will have a
capital stock of SS00,000 The territory con-
trolled consists of 10000 acres, situated alto
gether in Allen and Van Vert counties, south
west of Lima. The company will proceed at
once to lay a line from Lima to their pos
sessions, and are figuring on building refinery
and placing the oil on the market as an illum-
inant. 1t is the largest transaction that has yet
taken place in the Ohio field outside of the
Standard Oil Company's deal.
The Economist published in the City Of Mex
leo, the highest authority on Mexican finances,
trade and statistics, gives some interesting
facts concerning trade between that country
and the United States, which varies somewhat
from those published from Washington City.
The paper referred to says that in the fiscal year
OF 1878 the value of exports from the United
States to Mexico was in American coin $l9 264--
675, and that the value of exports from Mexico
to the United States during the same period
was s23 294, ,0O0 These figures are regarded as
the most accurate thathave ever been OBTAINED,
and show that exports from the United States
to Mexico are several millions larger than here
tofore stated by either Mexican or United
States authority.
A new type of elevator motor has been re-
Gently constructed. combining the advantages
of the smoothness of motion in the hydraulic
passenger elevator and the remarkable adapt
ability of electric motors to elevator works.
In the new system the cylinder and piston of
the hydraulic elevator has been substituted by
a long heavy screw and nut. The screw is geared
to the motor and the nut is attached to the
multiplying sheaves in the same manner as the
piston in the hydraulic elevator. In this way
any degree of speed up to 200 feet per minute
can be obtained with safety, and the smooth |
ness of stopping and starting is fully equal to |
the hydraulic elevator.
$50
Bismarck's war on the American hog has |
proved a financial boomerang. Many Berlin |
butchers have gone IN bankruptcy in conse- !
quence of the continued prohibition of the |
importation of cattle and pigs, Another ques-
ton is a scarcity of fat stock throughout Ger
many and the consumption of horsehesh is in |
creasing. In Berlin alone 70 horses day are
slaughtered, and the flesh being eagerly bought |
at moderate prices.