Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-06
SOME GOOD THINGS
In Real Estate Showing a Strong
Undercurrent of Activity.
TWO MORE BIG DEALS CLOSED UP
Iron Trade More Than Holds its Own,
With Rosy Outlook for Next Year.
CONTRACTS FOB ORE ALREADY PLACED

Two important transactions in real estate
were uncovered yesterday, showing that
there is something going on in this import
ant department. of business. The slight
shrinkage in the demand for small proper
ties in the last few days is more than made
up BY increased activity in large ones.
Scarcely day passes without transaction
involving many thousands of dollars, and
while, in the majority of cases, efforts are
made at the instance of sellers or buyers to
keep the facts from the public, they generally
come TO the surface in some shape. The shall
lows murmur, but the deeps are dumb.
One of the deals referred to was the sale by
W. A. Heron & Sons of block Of land on
Forbes street. 1wenty-second ward, near the
Schenley Park, comprising ~ acres, unim-
proved, at price approximating $4,000 cash.
The purchaser is John mckinley. auditor OF
The Philadelphia Company. He will lay the
ground out in lots and put them on tne
market.
The other transaction, of which nothing ex-
cept the bare fact could be obtained, involves
fine building site in the East End, the con-
sideratiOn being $4,000.
The iron market gives out no indication Of a
halt IN the upward movement. 1t is as strong
and active as at any former period since the
boom set in. All of the mills are full of busi-
ness and some of them will be compelled TO
increase their capacity. Among these is the
Allegheny Bessemer, at Duquesne.
There has been an advance in pig metal Of 80
to 70 cents ton in the last 10 days, but with
this exception prices are as previously noted.
The advance in pig, however, has hardened
values along the entire line, and further en-
hancement is among the probabilities. Con-
tracts for ore are already being placed. This
is about two months earlier than usual About
| 1000 900 tons have been contracted for, all for
next year This indicates two things-conf-
dence of continued activity and apprehensions
of higher prices for same, as well as manutact-
ured iron.
The outlook for next year is very encourag-
ing. The extraordinary activity In railroad
betterments is far from exhausted, and the
prospect for heavy business in steel rails could
scarcely be better.
The trade in England continues active and
excited, and prices are advancing A Wolver-
hampton letter says: Never before in the his
tory of the trade has there been wilder mar
ket than that of Middlesborough. The excite
ment was intense. Prices of pig iron again
advanced by leaps and bounds, there being
gain of 4s I'D per ton during the market, bring
ing up the price Of Middlesborough pig to a
figure IS Cd per ton above that Of week ago.
and yet scarcely any iron could be got at these
advanced rates. The present price of pig iron
| is above anything that has been realized since
1873 the previous best since then being in 1880,
| when 63s was reached
There is 9 perfect squeeze, a veritable cor
ner, for Cleveland warrants, and they have
gone up at a rate much faster than Scotch
warrants, the stock of which prevents any cor
| nering. But there is no doubt that Cleveland
| iron is uncommonly scarce; in fact, as regards
| No. there is quite famine. The price of
! Cleveland warrants is actually IS Cd above the
price of Scotch warrants-a circumstance never
before known; for generally Cleveland is 5s be-
| low Scotch, and sometimes Ss and los below,
Great firmness at Barrow is again the record
for West Coast hematites. Prospects continue
good all ronnd; the probability being that the
| demand will show further development and
that quotations will further, advance. Mixed
numbers of Bessemer iron were at Mondays
| market quoted 73s Sd, and No. forge Us Sd.
Stock are again smaller deliveries being large
both by rail and sea; and all the output going
into consumption.
For some time past Denver capitalists and
| Eastern mlllionaires have been engaged in or
ganizing an improvement company to be located
in the Trinity Valley, Texas. The object of the
corporation is the reclamation of 100000 acres
of land in the Trinity Valley near Dallas. This
is to be done by strengthening the channel Of
the river, which is very winding. By this means
the river during a food can carry off heavy
volume of water with much greater rapidity
than it now does. After Strengthening the
channel vast levees will be thrown up on either
side for five miles. Competent engineers de-
clare this work will bring about the desired
result and that it is practicable. The estimates
of the entire work range from S75O,OOO to
sI,5OO,OOO
Trinity Valley is one of the richest tracts of
land in the State of Texas, and if the 100000
acres were reclaimed and turned into truck
farm enough produce could be raised to supply
the entire region west of the Mississippi river.
The value of the land will be raised from prac-
tically nothing to at least 500 acre, or Sl0,-
OOO, coo for the entire tract 1t is understood
that the various owners of the property
are willing to go into the scheme and put their
land in for stock in the company. If the project
is carried out it will constitute the largest
work of internal improvement ever under
taken in Texas.