Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-11
CHEER FROM ABROAD.
4 Former Pittsburger Gives the Good
Old City a Friendly Boost
HE is SURPRISED AT ITS GROWTH,
An Iron Broker Speaks Word Of Caution
to Busy Manufacturers.
HOW A YOUNG MAN SECURED A HOME

The following communication neeus no
comment. 1t tells its own story:
PHILADELPHIA, October y.
To the Financial Editor of the Dispatch:
As an old Pittsburger, having been born and
raised there, am glad to see, from tie reports
in THE DISPATCH, that the city iSgrowing l
always thought it had great future before it,
and now 1 know it. When l was boy the
suburbs were either open fields or covered with
timber. Now am informed they are covered
with fine houses and are thickly populated.
Years ago was told that the city was finished
and ready to be fenced in The men who held
this opinion, il they are living, have certainly
changed their minds The rapid growth of the
city, as understand it, is marvellous, and is at
tracing attention here and in other Eastern
cities. Pittsburg real estate is talked of almost
as much as stocks and bonds, and am informed
that great deal of Philadelphia capital will be
invested in it next year.
Let the good work 20 on. A city that builds
1000 houses year cannot be kept in the back
ground. With natural gas and other advanr-
ages for manufacturing can see no limit to
the growth of business and population. Local
enterprise will expand and outside capital be
drawn in until the good old town will occupy
the same position in the manufacturing world
that New York does in the financial. am
proud of my native place. 1t was great thing
to be Roman citizen. 1t is a greater one to be
identified in any proper way with the great
city of PittsDurg. A FORMER CITIZEN.
Increased and increasing activity is the great
feature of the iron trade this week. At the
meeting of manufacturers in New York few
days ago structural material was advanced 50 a
ton. Bessemer pig is now quoted at S2l 70 to
SD so. Other brands of pig have moved up pro-
portionately. Rails are firm at $50 to $50, an ad
vance of about IS a ton within short time.
The mills are all pushed to their utmost cap
acity. The only drawback is the occasional
failure or shortage in the natural gas supply.
With all the orders ahead that can be filled in
the time specified, and others coming in for
later deliveries, it is bad time to run short Of
fuel, steady supply of which should be pro-
vided somehow, even if the mills have to 60
back to coal
A prominent iron broker said yesterday:
Business could hardly be better. The mills
have more than they can do. 1t looks very
like boom, the very thing we don't want. l
am afraid the result will be that many old and
abandoned plants will be rehabilitated and
started up, and overproduction kill the market.
This will certainly be the case if prices go
much higher.
'They are now almost or quite up to the
point where foreign material can be brought
into competition with the home product. and
such would no doubt be the case but for the
very large demand on the other side of the
ocean. With this danger before them manu-
facturers should move slowly and carefully.
Prices are high enough"
At building association meeting in Phila-
delphia, short time ago, young man who
paid the first monthly installment OF dues on his
mortgage was followed in the line of depositors
by another young man, who purchased home
about five years ago and has it partly paid for.
The latter remarked to the secretary: THAT
man, who has just paid his dues, saved his first
dollar through my persuasion. When bought
my house" /" he continued Il was obliged to bor-
row from a friend $500 for the necessary reason
able margin, and as found it uphill work to
pay my dues with regularity and at the same
time pay off the $500 in $50 lots, 1 explained to
the person Just referred to the great value of
having $500 or $500 saved up to be used in pur
chasing a home or starting in business.
begged him not to wait, as had done for years
without saving penny.
house and went with me to the association
meeting and subscribed for stock. That was
several years ago, and last month he took out
of the association nearly 81 600 used it in part
payment for his home borrowed the balance
from the association, and is now in his own
home. 1 feel that have done some good in the
world"
If the Pennsylvania Water Company keeps
its promise-and it will unless something un-
foreseen occurs-the good people of Wilkins
burg will have supply of Allegheny river
water by this evening. Connections have been
made with about 200 houses in the borough.
The reservoir will not be completed for a
month or six weeks, and water will be pumped
directly into the pipes. Nothing definite has
been done in regard to the fireplugs, as there is
a hit ch between the company and the borough
officials. The latter. it is understood, demand
a full supply of water for street spr1nkling and
other purposes free of cost. The company asks
the usual rates. The difficulty will probably be
compromised.
Citizens are jubilant over the prospect Of an
abundance Of water forthwith, and think that,
as it will lessen the danger from fires, there |
should be drop in insurance rates, which are |
as high in some localities as ~ per cent.