Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-09-15
A GENUINE BONANZA.
How Four Persons Made Big Money
by Investing in Real Estate.
FARM LANDS NOT DEPRECIATING.
Business Well on Its Feet, but Danger
Signals Seen in the Distance.
APLAN FOR REAL ESTATE EXCHANGE

Two years ago four persons-two preach
ers, school m am and clerk-deposited
$40, 1000 with Black & Baird for investment
in real estate at their own discretion, their
only instruction being do the best you can
Tor u.s." The investment was made in un-
improved land in the East End. Yesterday
the account was closed, and the investors re-
ceived checks aggregating SIS, ,422. They
were ignorant of the amount of their gains
until they learned it from their checks, and
it is needless to say they were agreeably sur
prised.
They propose to try their luck again in
the same way. "There is plenty OF good
property still on the market" said Mr..
Gloninger, who managed the deal, land 1
think can do as well by these people as 1 did
before. The only difference is that it takes
little more money to make deal now than it
did two years ago."
The following communication is self-explana-
tory. 1t suggests a way By which real estate
dealers can enjoy exchange facilities without
entering into separate organization and going
to the expense of putting up costly building.
PIrTsBURG. September Il
To the Financial Editor of the Dispatch:
have been wondering for some time what
has become of the project for a Real Estate
Exchange, about which great deal was said
a few months ago. Is it dead, OF only sleeping?
1 hope the idea has not been abandoned, for it
is just what is needed to thoroughly organize
the business and put it firmly on its feet. 1t
would stop thToatcutting on the part of agents,
and be of great value to owners by enabling
them to market their properties with small
outlay of money, time and trouble.
An idea occurred to me few days ago,
which, if carried out, would accomplish this
desirable end at O comparatively small ex-
pense. Why not pool issues with the Pittsburg
Petroleum Stock and Metal Exchange? This
would obviate the necessity of putting up
costly building. Real estate, stocks and oil
could be traded in on the same floor, or room
could be set apart for realty, as is done with
grain. Regular hours for buying and selling
could be arranged, without interfering with
other interests. The Exchange needs strength.
ening, and from what l have learned from
few members with whom have talked, con-
solidation with the real estate business would
be welcomed with open arms.
Another thing: From the condition of the
oil market, it is not improbable that it will
gap nicely, and the Exchange gain more than
it lost. The location of the building could not
be bettered, being in the immediate vicinity of
all the prominent dealers in realty. Member
ships are cheap. and it is not likely, in view of
the great benefit this acquisition would be to
the Exchange, that the holders of them would
run up the price. 1 would like to hear from
prominent representatives of the three inter
ests involved upon this important subject.
A BUSINESS MAN.
The statement originating in the East that
farm lands in Washington county, or anywhere
else in Western Pennsylvania, are decreasing
IN value for any cause, finds no credence with
people familiar with this description of prop
erty. A gentleman who, perhaps, handles more
farms than any other man in the city, said yes
terday: 'The statement that the farming inter-
est is playing out is all bosh. 1t is in more
prosperous condition now than it has been for
years. This is shown in the large demand for
farms, as well as in the higher values at which |
they are held. Farm lands are at least 25 per
cent higher than they were two or three years |
ago. and I look for them to make another |
Jump.
Farm buildings are being improved or new
ones erected, fences are being repaired or
made. and the ground is better cultivated than |
ever before. Does all this indicate that farm
ers are disguised with the business? On the !
they are thoroughly satisfied. They |
are living like lords and making money. The
story of their poverty and dissatisfaction may
10 for the marines, but it won't go down with
people who are acquainted with the facts"
The following amendments of the bylaws of
ho SburO md Mafol
change, governing dealings in New York secu-
titles, recently authorized, will be acted on
1ext Tuesday afternoon, September II:
Article l, Settling Day-Section l. All stocks
IN the New York quotation board, sold ''regu-
ar" shall be deliverable on the last Wednesday
If each month, but all stocks sold regular on
tuesdays, Mondays and Saturdays next pre-
,ading such settling day shall be deliverable
IN the settling day of the following month.
Stocks sold on a settling day shall be de-
iverable on the settling day of the following
month.
How Cleared-Section 2 All transactions
hall be cleared daily under the same rules and
Clearing House regulations which apply to
clearing petroleum. All other transactions
hall be ex-Clearing House, but any stock or
,ond may be delivered through the Clearing
House, both parties agreeing.
Artcle z, ,Dellverles.-oecIlonI L. when con-
racts 1or STOCK IN lots less tnan 100 shares
nature during the closing OF the books. the
eller or party VINO mas 70 make the delivery
eeu not uehver until Inc next casn settling
ay al1er tne pooks open' out IL ne should elect
denver then, the party 10 receive the stock
must accept tenuer Oh the same. This rule
hall not afect loo snare lots, which shall in all
ases be delivered at maturity.
n n .I-I.-
section z AN STOCKS deIVerab-e to members
hall be In ten snare lots, unless otherwise
pecif1ed, except on contracts maturing on
ettling day, when the seller or loaner shall
oxror rha riryhf fn oly0 in |