Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-10-01
SHOULD BE HELD UP.
Local Securities Identified With All
the Interests of the City.
A BLOW AT ONE A BLOW AT ALL.
No Danger of Speedy Famine in Building
Sites at Moderate Prices.
THOUSANDS OF ACRES OF VACANT LAND

Nearly all of the great business interests
of the city are identified in some way with
the corporations whose bonds and stocks
are dealt in at the Stock Exchange. This
being SO, it should be the object of every
business man to maintain, and, if possible,
increase their repute as speculative COM
modities, or for investment. A serious
break in local securities would touch many
other interests and put Pittsburg in hole.
On the other hand, companies should act
squarely with the public by avoiding unneces-
sary expansion of capital-watering, as it is
called-and furnishing full and reliable in
formation to stockholders and investors.
A bond specialist sums up the market for in
vestment securities during the past week by
saying: "The bond market has been dull so far
as good securities are concerned, the advance in
money rates tending to check inquiry from cor
poratlons and large private capitalists, but
prices were well sustained, and the offerings of
the usual scattered quality. On the other hand,
the more active bonds were freely traded in.
and the usual support was supplemented IN
some cases by fair amount of foreign buying.
which had no little effect upon the general mar
ket. This accordingly gave show of animation
to the general bond trading, while some special
movements of a more or less manipulatiVe
character were recorded"
Fear has been expressed that all the cheap
building lots in and around Pittsburg would
soon be bought up. Speaking on this subject
Fourth avenue gentleman said yesterday:
There is no danger. The amount of vacant
land situated within a convenient distance of
the business center of the city is greater than
people think. 1t amounts to thousands of acres,
considerable of which has not been put on the
market but will be whenever there is a demand
for il. A trip to the district of which Glenwood
is the center, out to Oakland and Squirrel HILL
to Mount Washington and down the Ft.Wayne
road to Bellevue and below would convince
any one that there is land enough for all, and
that plenty of it will be left for the rising gen.
Grafton. Still, this is good time to buy, as
prices for desirable properties are hardening.
The inquiry is good. and on the increase"
4
At Apollo, Armstrong county, the cheapest
gas rates yet announced are now being given.
The Pine Run'Gas Company was the first to
pipe the town, and later the Citizens Gas Com
pany entered the field. Contracts are now
being made for supplying gas at the rate of
81 rs per year for cookstove.
The following is used by the United States
mint for determining whether coin is good or
bad. Use the liquids as near the edge of the
suspected coin as possible, as that is the part
most worn. A drop of the preparation will
have no effect on genuine coin, while it can be
plainly seen on the counterfeit. Heavily
plated coins should be scraped slightly before
using. For gold: Strong nitric acid. 81
drachms; muriatic acid, a drachm, OF l5 drops;
< TvpOtv-f0nr
grains nitrate of silver. 80 drops nitric acid, l
ounce water. The above tests should conform
with diameter, thickness and weight, the tests
used at the mint.
The hardware business is experiencing quite
a revival. and the outlook for fall trade is very
bright. For some time past manufacturers
have been selling hardware at about cost prices.
and the recent advance in raw materials will, it
is thought, put up the figures. The condition
of business in this line in other cities is re-
ported by travelling men as good, but Pittsburg
is rather in the lead in point of activity Build
ers' hardware is particularly active, manufac-
turers being so pushed that dealers experience
a difficulty in having their orders filed; but the
improvement is in nowise confined to that par
ticular branch as the movement in general
hardware is also quite brisk. The fall trade
has set in earlier than usual, and the wholesale
better at this season than it has been for wears
at a corresponding period, and the indications
point to continuance of the same. This has
been the result of no one cause, but it is the
natural outcome of the increased confidence in
the future and the general upward movement
of trade.
Prominent Tennessee and Alabama capital
lists, who have been in conference in Nashville,
have just settled the preliminary details OF a
plan to consolidate all the big charcoal and
steel furnaces in the two States under one COM
pany and begin the manufacture of steel rails.
Their plan embraces the consolidation of the
La Grange, Etna and Warner furnace COM
panies, the Roam Iron Company of Chatta-
nooga. the Wayne County Iron Company and |
other properties. Six furnaces now in opera
tion are involved in the deal, and many
acres of fine ore lands in Pickman, |
Stewart and Wayne counties.
A movement is on foot to form a stock COM |
paDy to build new mill at Dunbar, on the |
Baltimore and Ohio road. It's proposed to erect |
80 pudding furnaces, and manufacture skelp |
iron exclusively.
One of the most astonishing engineering feats I
of modern times, will be the railroad to the |
summit of Pixies Peak. The final surveys have |
been completed, and construction will be COM
menced shortly. The route will be about 9A |
miles long. and will follow the old trail large |
part of the way. The road will be built upon |
the same principle as the one that ascenGs the |
Rigi in Switzerland 1t is calculated that the |
ascent and descent will each occupy about one
one hour and half 1t will be run entirely for |
the accommodation of tourists.