Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-06-02
SNAGS IN THE WAY.
Trade Prosecuted Under Difficulties
Makes a Good Showing.
THE CALAMITY AT JOHNsTOWN
Opens the Pockets Of Members Of the Ex-
change and Real Estate Dealers.
NEW BUILDINGS AND DEALS In REALTY

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under difficulties. There was a holiday,
more than the usual allowance of bad
weather, and the terrible disaster at Johns
town. But with all these drawbacks the
volume of transactions was almost up to
the average. Stocks were dull and most OF
them lower. The total sales were 8,207
shares, of which more than one-half was
contributed by Philadelphia Gas and La
Noria. Oil was stronger, but trading was
light. Real estate was active, and num-
Der Of important deals were closed up.
They have appeared in The DISPATCH
from day to day. The number of transfers
recorded was 154, representing $39S, 400.
There was a fair business in mortgages, the
number placed being 1s0 and the amount Of
money involved 1881, 1859. There was no differ
ence of opinion in respect to the prospects of
an unusually active trade next fall.
The awful disaster that has befallen Johns
town will have serious, but it is to be hoped
temporary, effect upon business IN Pittsburg.
Practically, Johnstown was suburb of this
city, doing most of its trading here, which
amounted to a large sum annually. A large
part of the capital invested there was owned
by Pittsburg people. Even the South Fork
dam was Pittsburg enterprise. The sudden
extinction Of this hive of industry, which
poured its wealth 50 freely into the lap of
Pfttsburg, cannot be otherwise than q severe
blow to local business; but the indomitable
pluck and boundless resources which charac-
terize the American people in all emergencies
will soon repair the material damage and start
anew the wheels of industry. But the IUss Of
hfe-the bereaved families-the ruined homes
they are beyond human help, and must be
left to the tender mercies Of the Great Father.
The most we can do is to contribute of our
substance to the relief of the survivors Of the
worst calamity that has ever befallen an
American community.
Members of the Pittsburg Petroleum, Stock
and Metal Exchange promptly responded yes
terday to the cry for help that came up like
wall from stricken Johnstown. It was at first
proposed to donate $500 from the general fund,
but this being considered impracticable for
several reasons, lists were opened for individ-
ual subscriptions, and when the session closed
1925 had been subscribed, with several MEM
bers to hear from. 1t was thought that the
amount would be increased to at least 81, 900
The real estate fraternity were also liberal con-
tributors. Pittsburg business men of all call
ings are pDoverbially liberal, and no worthy ap-
peal for assistance is ever made to them In
vain.
Bad weather during o portion of last week
interfered with building operations to some
extent; but notwithstanding this drawback the
number Of permits taken out 46, fell but little
short Of that Of the week before. The total
cost of the buildings thus projected is 800 465.
None Of the permits were large, and nearly all
of them were for dwellings, It was estimated
by . contractor yesterday that about $50 per-
mits for houses of all kinds have been issued
since January !. He thought the year would |
show total of at least 5000
49,
There has been. within q few days, a revival
of interest in Penn avenue property, which had
been under cloud for the reason that owners
overshot the market, asking prices entirely dis
to those ruling in equally desira-
BILE parts of the city. This mistake, it seems,
has been corrected in part, at least so that In
vestors are again turning their attention to
that locality. During the week rumors were
current of several sales on that thoroughfare,
but nothing definite could be learned about |
them. Yesterday Black Baird closed the sale |
of business property on Penn, near Eighth,
the consideration being not far short of $4,000.
One or two equally important deals are under |
way for property near the same place.
A son Of a prominent Pittsburg journalist |
was, not long ago, forced into speculation in |
real estate that returned to him a profit Of |
about 5000, by quarrel with his landlady. |
He rented dilapidated house from her in an |
East End suburb, and fixed it up at his own |
expense, so as to make it habitable. This done, |
the landlady notified him that she would ad-
vance the rent. He forthwith kicked. Hav- |
ing little ready cash, he bought oue-half Of a |
large lot for $500 and made arrangements to
build a two-room house on it. He was finally |
persuaded to buy the other half OF the lot, but |
the price had gone up little and he had to pay
$3.50 tor it. In short time he sold this half for
81, 400, and subsequently one-half of the other
portion for $1,000. This left him lot 90 by 120
on which he has put up good house, where he
is now living and taking things easy. Quar-
rels, especially with women, seldom lead to
good results, but this particular one was an ex-
ception to the general rule. The lucky man
said: my kick against my landlady was the