Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-06
A BIG INSTITUTION.
The Pittsburg Exchange Promises to
Become One of the Finest.
POLITICS AND OTHER BUSINESS.
The Scarcity of Suitable Buildings Driving
Trade From the City.
UNEXPECTED TUMBLE IN PETROLEUM

A seat in the Pittsburg Petroleum. Grain
and Metal Exchange is valued at from $3.50
to $3.50. Everything considered, this is
very moderate price to pay for the privi-
leges which a seat insures. Seats in the
Cincinnati Exchange are held at about the
same figure. In st. Louis and Chicago they
are higher. In New York membership in
the Stock Exchange costs a small fortune,
seats being held at $4,000. This is the
highest figure ever reached there and is taken
as an indication of condition of prosperity
never before attained.
Exchanges are great convenience to bust
ness men as well as the public generally, and
their prosperity should be cause for general
congratulation. The Pittsburg Exchange,
which is comparatively new, is making rapid
advances in membership and influence, and if
the present able management be continued, it
will In a few years be one of the most impor-
tant institutions of the kind in the country.
Now that the Presidential succession has been
settled by the induction of General Harrison,
think business will pick up,'' remarked prom
inent f1nancier yesterday. Political uncer-
talnty has kept it in the dumps ever since the
election"
do you like President Harrison's policy as
outlined in his inaugural?'
II haven't had time to read II, and don't know
what his policy is except in general way. 1t
is not his policy that refer to as likely to give
trade fresh start-it is the exchange of GER
| tainty for an uncertainty. Nothing is so par
! alyzing to business man as to be compelled to
work in the dark. He wants something tangi-
BILE upon which to make his calculations and
lay his plans. change of administration
always causes more or less depression. 1t not
L. 11rrAa A1A os-,A~ 81
capitalists but it diverts the attention of large
numbers of people from the ordinary affairs
and. duties of life to political movements and
| speculatIons to the great injury of business.
Now thatwe have passed this critical period,
expect an era of good times to set in which
will be felt in every branch of industry"
would the lengthening of the Presidential
term be in the interest of business?"
81 think it would. Elections come too close
together. We are scarcely through with one
until plans are laid and the wires worked for
another This keeps the country constantly
| torn up, and makes politics regular trade or
profession. There are about 100000 of pro-
fessional politicians in the country-men of
ability and energy-who devote their time en-
tirely to the making and unmaking of public
| officials. If these men could be taken out of
| politics and furnished employment in useful
/ occupations, it would be a great gain to the
country. This could be accomplished in some
measure by making the Presidential term six or
| eight years"
| While most of the real estate agencies do
| general business, giving special attention to the
buying, selling and renting of residence prop
| critics, others make a specially of business
houses. The senior member of one of the latter
! firms said yesterday: There is more inquiry
for business houses than the public is aware of.
! They are very scarce could rent a dozen of
them before tomorrow night if had them.
| The most desirable of them are never empty.
! They are often rented year ahead. Those
that are occasionally empty are generally small,
| badly located and adapted to only special lines
| of business"
"The scarcity of this description of property
is great detriment to the city. is it not?"
| "Most decidedly. Within the past week or
! two have had to turn away at least a score of
applicants, because didn't have such houses
| as they wanted. In some cases had none at
all. The result has been that some of these
men have given up the idea of going into busi-
ness this season. while others have sought and
| found openings elsewhere. This is a direct loss
to the city, which could easily be prevented if
our capitalists would only do their duty to the
community by investing their money in new
buildings instead of dumping il into the banks,
| which have more than they have use for or
letting it lie idle. We are in a dilemma; we
must either put up notices that no more out
siders are wanted or we must erecs suitable
buildings for their accommodation. Without
more houses of all kinds the much further
| growth of the city is impossible and we might
as well build wall around it at once"