Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-06-26
ON THE RIGHT TRACK.
A General Movement Among Work.
ingmen to Acquire Homes.
STOCK DEALERS LOOK FOR A RALLY
Confidence as Business Capital illustrated
by Local Incident.
HOW GOLD is COUNTED AND WEIGHED

A notable feature of the real estate market
is the large number of workingmen who
have purchased or are in quest of cheap lots.
This tact being brought to the notice of a
Fourth avenue agent yesterday, he re-
marked:
''This feature of the market is not new to
me. I have been aware of it for some time.
Fully one-half of my sales are to this class
of people. In many cases they pay cash,
and afterward arrange for houses on time.
A workingman with home of his own may
be said to be well fixed. He is then, to
certain degree, his own master. I am glad
to see this movement With the working
element thoroughly identified with the city,
its future is safe.
ga man with property interests is always
conservative on economic questions. This
effort of the bone and sinew of the commun-
| ity to acquire homes should be encouraged to
| the utmost. To them banks and land owners
should be as lenient as possible"
| -
| Confidence is the life of business. 1 was dis
cussing this subject with a well-known gentle
man yesterday-one who has been honored by
| his fellow-citizens with several positions of
trust in the municipal government-when
young man, who was neatly dressed and of
| pleasant appearance, crossed the street and en-
tered bank. There is case in point" re-
marked my friend. His success in life is en-
tirely due to the fact that myself and one or
two others had confidence in him. 1.-THE story
is no doubt interesting, and as it may point
moral, would like to have it."
ut is short" responded the gentleman, ''but
full of encouragement for young men who are
making an honest effort to establish themselves
in business. had known the family of which
he is a member for some time, but had no par
ticular knowledge of the young man. One day
about five years ago he came to me and re-
Quested private audience during which he
laid his plans before me. He had strong de-
sire, he said, to better his condition by engag-
ing in mercantile pursuits, and begged my
assistance to the extent of indorsng for him to
the amount of $500. 1 gave him no decided
answer, but requested him to call again in
few days was favorably impressed with his
appearance, and frank, outspoken manner. 1
at once set to work to investigate his character
and ascertain his business qualifications both
of which found were good then broached
the subject to a couple of my friends told them
the result of my investigations, aud requested
their cooperation in the matter. This they
willingly assented to, and the Endorsement was
given"
What was the resultf'
,'The young man went into business and pros
pered. He Cancelled his obligation to us in less
than a year. We offered to lend him our
names whenever he needed money, but he de-
clined with thanks, saying he could get along
without it. He has a reputation for honesty
second to that Of no other man in the CITY, He
does everything on the square. was not mis-
taken in my man. But for the confidence he
inspired in me he might to-day be filling
tI,<zr ,l1o~
at low salary"
This little story, which has the merit of being
true, conveys lesson to young men which
they should carefully ponder. Integrity is cap
ital. A character for honesty once established,
success, sooner or later, is sure TO follow.
The clerks at one of the leading banks were
engaged for some time yesterday in the pre-
sumably agreeable work of counting gold coin,
apropos of which the cashier, who was looking
on, remarked: "Generally'we count our gold
but for special purposes we weigh it. In
counting we throw out all the pieces that are
defaced by wear Gold, as well as silver we
weigh twice year, when the directors take
stock. They fill bag with $40 pieces
amounting in the aggregate to 5000, and
weigh it. All other bags containing a like
amount must weigh the same, or the shortage
must be made good. At the last count two
bags fell $40 short This was occasioned by the
presence of a number of pieces that had been
in circulation so long that the milling had al
most entirely disappeared.
'In foreign countries gold is invariably
weighed and every imperfect piece rejected. A
large proportion of the gold and silver coin in
circulation in this country is SO abraided by use
that it would hardly be looked at on the conti-
nent. England is little more liberal in this
respect but even there coins that are the least
worn are regarded with disfavor."
The firmness and activity displaved by stocks |
in New York afford encouragement to local |
spectators, one of whom remarked yesterday |
evening:
''The revival of the speculative interest in |
New York will. in my opinion, have a good eff |
feet upon our local securities. Although thew |
have been neglected for some time, they are in |
good shape, and few good-sized buying orders |
would give them a whirl. There is no good |
reason why they should be in the rut. They |
are as sound as dollar. representing frst-class
in terests, which will improve in value as they |
are developed.
"At present prices think most of them are |
good investments. Electric and the fractions |
will pay big dividends as soon as they get firmly
on their feet"
As showing the irresistible force of the i'm
mense volume of water that issued from the |
South Fork dam, gentleman who witnessed
the incident told me yesterday that it struck
a rock almost as big as a two-story house, that
was partly embedded in the earth, and carried
it distance of nearly quarter of mile, where
it lodged against a large tree. 1t plowed a
deep furrow, and demolished everything in its
course. No wonder, therefore, that houses.
bridges, trees and everything else gave way be.
fore this tremendous display of power.