Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-09-09
GOOD FINANCIERING.
Consummation of One of the Biggest Deals
Ever Undertaken Here - Millions of

Consummation of One of the Biggest Deals
Ever Undertaken Here - Millions of
Money Involved.
One of the most important financial trans
actions that have ever taken place in Pitts
burg has Just been closed up, The 81. G.
Frick Coke Company having made the
Fidelity Title and Trust Company It's trus-
tee to secure an issue of bonds to the
amount of s.. SOC, 900. OF this amount about
s., ,O0O, 900 have already been placed in
Pittsburg. The remainder of the loan, ST.
500, 900. is for sale by the Fidelity company.
The bonds bear per cent interest and run
80 years.
Heretofore it has been the custom in large
deals of this kind to apply to Eastern trust
companies. 1t is agreeable to note that
this is no longer necessary, nor in any way
excusable, as there are home institutions Of
sufficient standing to attend to any business of
a financial nature, no matter now great the
amount involved.
The success attending the placing of this
large loan is quite triumph for Pittsburg.
showing, as it do es. that she is fully competent
to manage her own AFFAIRS without OUTSIDE
help, and, if need be- to lend a helping hand to
her sister cities in time Of need. 1t IS to be
hoped that this transaction will open the way
to others of equal or even greater importance.
Pittsburg is fortunate among cities. She is
almost self-sustaining. Being creditor, there
is a steady stream of money flowing into her
lap, to be used in the expansion of local busi-
ness. What she has is her own, to do with it
as she elects. This gives her standing in the
financial world, and is certain guarantee
against reyerses. A crash that would shake
Pittsburg would leave very little standing Of
any other city in the Union.
And so, under highly favorable conditions,
this hive of industry, this financial Gibraltar,
is entering upon the fall and winter campaign
under able generals and with full commissa-
riat All of her great industries are keeping
step to the music of improvement. Already
far in advance of the business of last year, the
remaining months of 1889 will show still greater
expansion. All that is needed TO meet the eX-
pectations of the most eXuberant fancy is strict
adherence to the enlightened, but, at the same
time conservative. policy, which has hitherto
been the guiding star of all her business ven
lures.
The scheme for changing moving day to May
l is not dead by any means, but only sleeping
The committee in whose hands the matter rests
has delayed action on account OF the absence
of a large number of property holders during
the summer. AS they are returning, the propo-
sition will soon be put in shape for final action.
That change is necessary from almost
every @nt of view, and in the interest of the
health and comfort of the large community of
landlords, is generally admitted and that 1t will
be adopted there is scarcely doubt. Its popu-
larity will carry it through.
Sales at the stock call Saturday morning
were few and far between. Pipeage was the
only thing dealt In. and only so shares of it
changed hands. 1t brought 171f--about the tag-
ure around which it has danced for some time.