Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-06-06
RISKED HIS MONEY.
A Big Mortgage Placed on Penn Ave-
nue. by a Local Capitalist
RIDGE AVENUE PROPERTY MOVES.
A Local Travelling Man Returns From the
West and Tells a Rosy Story.
YOUNG AMERICA CHANGING HIS HABITS

Samuel W. Black & Co., whose extensive
knowledge of the location and value of
Pittsburg property is well known, have
plaeed mortgage for SIS, 600, one year, at
6 per cent, on Penn avenue property, the
assessed value of which is $4,000. The
mortgage, therefore, represents about so per
cent of the present price of the security.
This shows that capitalists must have great
faith in the enhancement of values on that
thorOughfare, which is again attracting
attention after a season Of lethargy
caused by imitation. The lender is one OF the
most prominent capitalists in the city, who al
ways looks before he jumps. His faith In the
stability of real estate should have great
weight with prospective investors, and go 1ar
to maintain confidence in the liveliest branch
of local business.
W. A Heron & Sons brought large trans
action to a head yesterday, it being the sale OF
a residence on Ridge avenue. Allegheny, lor
$4,000 The purchaser has no fears OF an IN
vasion of street cars, the determined opposition
of interested citizens having given the scheme
such black eye as will compel it to remain IN
retirement for an indefinite period
In an interview Yesterday with Plttsburg
travelling man. who had Just returned from an
extended Journey in the West and Northwest,
some interesting facts relating to business were
obtained. He said in substance: Il have seen
hustlinr and hustlers here, but nothing like
what witnessed during my absence. Every
body seemed to be on the jump; they had no
time for anything but work. They were up
early and late, and busy all the time. Towns
are springing up all over the west as II by
magic Some of the cities are growing at
wonderful rate. Among these are Kansas
City, Minneapolis. St Paul, Milwaukee. Sioux
CITY Davenport and Leavenworth. Each OF
these has many fine and costly buildings, fine
streets traction or horse ears, gas, electricity
and everything else necessary for comfort and
convenience.
''The country is well improved and is settling
up very fast. Farm buildings are comfortable,
and live stock is well housed. Farms are well
cultivated, and the crops are in splendid con-
ditiOn, Should no disaster overtake them be-
tween now and harvest the yield will be I'M
mense. Should this promise be fulfilled, bust
ness next fall will fairly boom. Farmers will
have money with which to build and buy agri-
cultural implements, the railroads will earn
money enough 10 build additional tracks and
make necessary repairs to the old ones, and
merchants will be able to expand their business.
All this means money for the East. 1 never saw
brighter prospect for an era Of good times"
H#=
The readiness of young Americans to leave
the homes of their parents and "go West and
grow up with the country" is trait of char
acter in curious contrast with the predominant
ing idea of their English ancestors. Since
William the ConquerOr partitoned the lands
of England among his followers the idea Of
holding them in possession of the family has
crystallized into some very oppressive and un-
just laws, and has been the cause Of much evil
and dissensions. 1t had some good effects,
however 1t made that tight little island rich,
prosperous and powerful and its people the
greatest and most successful colonizers the
world ever saw. The Improvements they made
on their landed estates were of the most per-
manent character, and many houses are still
7anding in England, In good repair, that were
,uilt many centuries ago.
The descendants of the English speaking
peoplein America held totally different idea
II the subject They would part with their
landed possessions for very slight inducement
and without regret. The consequence is that
the dwellings and other Improvements have
been of a temporary character Land was so
cheap and plentiful that only slight efforts
were required to secure home and improve it
in temporary manner so as to provide for the
growing family.
There is a rapid change taking place in the
minds of the present generation. Since the
public lands have nearly all gone into private
ownership there is a greater desire than ever
before known to own home. The mad rush
to the little remaining Government lands in
the West is an evidence of this fact, and is one
of the most hopeful and pleasing indications of
the permanency and prosperity Of our Govern
ment Our population has increased by nat
ural causes and by immigration, aided by a
congenial climate, soil and conditions favor
able to rapid development of the highest
civilization to such an extent that we now fill
the whole of our vast landed possessions with
free, hardy and lberty-loving people, who,
for the most part, own their homes.
The coming century will witness a grand
revolution in the construction of dwellings and
other Improvements. The old, cheap style will
be superseded by more durable and costly
structures. around which the family offshoots
will stick instead of wandering to distant re-
gions far from kith and kin. The full benefit
of home life can be realized Only when it is
permanent. The American will ultimately
settle down like his English cousin. This
change has already made considerable progress