Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-21
A HIVE OF INDUSTRY.
Lively Times at the New Town of Wilmerd-
ing-Business Matters Generally.

Lively Times at the New Town of Wilmerd-
ing-Business Matters Generally.
Things are lively out at the new town Of
Wilmerding. 1t has lately been christ
ened East Pittsburg. Lots are selling rap
idlv at the rate Of S45 front foot. Build
ings are going up as if by magic. The
place will soon be large enough for bor-
ough, if not for city Of the second class.
Its rapid growth is casting shadow over
Braddock, which has heretofore depended
largely upon that territory for support.
The cause of this sudden rise of q town.
almost unexampled in Western Pennsy1va-
MIA, is to be found in the statement of
gentleman who enjoys the confidence of Mr.
George Westinghouse. He said Saturday
evening: "Within two years all the West
inghouse interests will be centered at Wilmer
ding or East Pittsburg, as it is now called.
This will make it one OF the greatest manufac-
turing centers in the country-greater, even,
than Pullman"
Business last week about held its own in vol
ume and distribution, without material change
in values of staple products. Money was strin-
gent in the East where it was subjected to ma
8ipulation by the loan crowd, but 1t was easy
here at 5@6 on call and 6@7 on time. There is
an ample supply In the country for commercial
purposes. 1t is only the speculative interest that
feels the pinch. There was an easier feeling in
the iron trade, but general conditions were un-
changed. The feature Of chief interest in local
securities was shrinkage in natural gas
shares, led by the Bridgewater and Philadel-
phia companies. Both showed some recovery
at the close. Real estate was active, with
large number of sales, some Of them involving
large amounts OF money. The outlook Is
for an active market the rest of the
season. The Development of the Ar
buckle well was the only event of much
49,
on Change was light, and prices adhered very
closely to the dollar line. Clearing House fg-
ures continue to show large gains over last year
in all branches of legitimate trade.
The lateness of the season is hurrying up the
builders Business was good last week. Sixty
two permits were taken out, involving SIG, 225.
An unusually smai ina IN numIer ;e q large houses
gretted since there is greater need of small
ones. The most important is the Central
Traction Company5s 5 building on Wylie avenue,
fzed to put up two brick twostory dwellings, on
Margaretta street. They will cost him $4,000.
s. Rauwolf will erect q three-story brick on
$4,000 Last but not quite least. I. r. Mellon
secured permission to erect two brick two
story dwellings on Rippey street, at an expense
undertake block. Capitalists must be edu-
Gated up to that point. szsss
Considerable business was transacted at the
Stock Exchange Saturday for short day,
Indicating that the brokers are seriously think
ing of getting down to work. They had better
for autumn is slipping away, and the year will
soon be memory. The sales were 5SS shares
Almost the entire list was firm and fraction
ally higher. Central Traction was the weakest
spot selling down to BIZ. 1t closed freely
offered at that figure. This is hard to under.
stand. The road Is making rapid progress and
will be ready for the holiday travel. No more
assessments will be required to complete it 1t
passes through the best portions Of the city,
and tans A country district that IN rapldfv
settling up 1t viii undoubtedly have a large
patronage. This should insure good dividends,
In addition to running expenses. interest, etc. |
Philadelphia gas was fractionally higher and |