Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-06-09
WORK OF THE WEEK.
Business Scotched but Not Killed by
the Conemaugh Calamity.
TIPS ON REAL ESTATE DEALS.
New Homes Projected and q Word About
Diamond Street Improvement.
MANY PEOPLE TURNT LIFE INSURANCE

The business history of last week has al
ready been written. The Johnstown calam-
ity knocked the life out of it. Yesterday it
showed signs of recovery, but it will be some
time before it gets fairly on its feet again.
Stocks were dull and weak all through. The
total sales amounting to only 2, 403 shares OF
which Pittsburg Traction furnished nearly
one-half, followed by Philadelphia Gas with
$50. Oil was in the same condition as stocks.
Realty was fairly active, number OF i'm
portant deals being made. The number OF
deeds recorded was 208, representing $5O2,-
1O2 There was fair movement in mort
cages, one being placed at ~ per cent, the
lowest rate on record for home money. The
number placed during the week was 1S6, of the
value of $780, 697. The largest were: SS5
s14625, slO,375. 10000. and nine from 5000 to
$1,000
A tip was given yesterday Of $4,000 deal on
Penn avenue, but neither the nature nor the
location of the property could be ascertained.
The renewal of interest on this great thorough
fare, after an almost total collapse, is one OF
the signs of the times, and should impress prop
erty-holders with the fact that fancy prices un-
der ordinary circumstances are about the same
as killing the goose that lays the golden eggs.
Next to Penn avenue Squirrel Hill and Oak
land have been the chief centsrs Of interest in
the real estate market. But this should not De
taken to mean that other districts have been
neglected. While money is abundant and cheap,
there need be no fear that lands and houses
will 60 a-begging for purchasers.
The new buildings at the corner of Wood
and Diamond streets will soon be under roof.
They will cost probably $4,000 Other costly
improvements on Diamond street are in con-
temptation. Every day adds to the cost of the
proposed Improvement What are its friends
doing? It is good rule never to put off till to-
morrow what can be done to-day. The way to
improve Diamond street is to improve it. Talk
is good, but action is better. A public neces-
sity like this should not be suffered to lapse
into innocuous desuetude.
ECONOMY" has written to THE DISPATCH as
follows: II think the Pennsylvania Railroad
Company would save money and increase its
dividends by instructing its engineers and fire.
men on the local accommodation trains, and
perhaps OTHERS to use less coal They seem to
think that the maximum pressure of steam all
the time is necessary to make schedule time.
The result is that great deal more steam is
generated than is needed. A train never stops
a
nearly always blowing off on the run. This
excess of motive power involves great waste
fuel. I have estimated that it amounts to
fully per cent. OF course enough steam is
needed to pull the trains on time, but there is
no reason why it should be wasted. In my
judgment-and have had considerable expe-
rience-a mean between maximum and mini
mum pressure would be about the right thing.
AS economy of fuel is an important matter,
both to the road and its patrons, as the cheaper
trains can be run the lower the fares, thrust the
officials of the company will give the above sug-
gestions some thought"
The life insurance interest is reviving since
the Johnstown disaster. The uncertainty of
life. as exemplifed in that awful calamity, has
caused many to think seriously and take steps
for the protection of their families. An agent
said yesterday: II have done more business
the past week than during the rest of the
year. Heretofore have been compelled to go
to pc ople; now they come to me. Whenever
man gets into q serious frame of mind, he at
once thinks about life insurance. have filed
out i've policies to-day for amounts ranging
from s., 900 to $4,000. The latter is our limit.
Young married men just starting in business,
and clerks take the lead. BY this fore.thought,
in case they should suddenly be cut of, they
put their families beyond the reach of want
If every man would do this there would be far
less misery in the world There comes a Gus
toner now. Good day."
Building operations showed very little falling
of last week, notwithstanding the depression in
business caused by the food. Legal authority
was given for the construction of Al houses at
an estimated cost of sl43, 9O3 The largest per-
NIT taken out was by the Chautauqua Lake Ice
Company for three additional stories to their ice
depot in the Ninth ward, to cost $4,000 The
next largest was by the st. Nicholas Catholic
Church for q three-story brick building in the
Twenty-seventh ward, the cost of which is esti-
mated at $4,000. The large majority of the
permits were for small and medium-sized dwell
ings. The record is very good for an of week.
4AR
A Along-needed Improvement in travelling IA
cilities has just been effected in the shape Of
an omnibus line, running from Hazelwood sta
tion up the avenue to the cemetery on the top
of the hill. This supplies a want that has long
been felt by the citizens of that section, and
will no doubt be the means Of increasing busi.
ness and enhancing the value Of property along
Hazelwood avenue. Apropos of this, it may be
stated that wherever improved transit rapid
or otherwise, has been introduced IN any of the
districts around Pittsburg it has been almost
Immediately followed by large increase of
population and better prices for land. This
fact should encourage the traction companies
TO extend their lines as fast as possible