Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-09-27
A GREAT INTEREST.
Good Words for Natural Gas Spoken
by Leading Business Man.
ITS ADVANTAGES TO PITTSBURG
Full List of New National Banks Author.
lied to Begin Business.
NEW ORGANIZATION TO HANDLE REALTY

The folly Of the man who cut his nose OF
to spite his face is frequently paralleled in
business affairs. Natural gas has done more
to increase and strengthen Pittsburg indus
tries, and spread her fame abroad, than any
thing else, and to attempt to weaken its i'm
portance for stock-jobbing purposes, or from
any other motive, is wrong to one of the vital
interests of the city. Said prominent business
man yesterday
Il am surprised at the depression of natural
gas stocks. I think it springs from jealousy as
much as anything else. There seems to be a
clique here-a coterie of selfish people-who
want to enjoy all the benefit of natural gas by
keeping everybody else out. For tins purpose
they confoct and circulate stories of shortage
in supply, wells giving out loss of business to
the companies and anything and everything
else to create an impression at home and abroad
that the supply is giving out. OF course these
stories have more or less weight with investors,
who too often accept street talk for gospel
truth, and the consequence is that the stock
| suffers. What was PIItsburg before she COM
menced using natural gasf What is she now? A
blind man can see the change. 1t has attracted
millions of outside capital, and caused the
greatest industrial expansion ever known here.
To depreciate interest that has done so much
for the city shows a lamentable lack of public
spirit.
There has been a scarcity of gas for week
or two but this is always the case at the begin
ming Of winter. 1t results, not from a decrease
in supply at the wells but from changes neces-
sary to meet the requirements of cold weather.
The scarcity is not so great as it was last year
| or the year before. Indeed, in view of the fact
| that the Philadelphia Company has taken on
1000 additional houses this season. and that the
| iron mills are consuming twice the usual guam
tity, 1t is remarkable that the supply has held
| out so well. The autumn changes to meet the
| increased service will soon be finished, when
every consumer of natural gas will be abund-
antiy supplied. The wells are all right, and the
service will be all right. l have no patience
with people who cry down the very thing that
has given Pittsburg the greatest boom she has
ever experienced"
| The following new National Banks have been
authorized by the Controller of the Currency to
begin business: The First National Bank of
Cameron Tex; capital, $50, 1000; John M. Hetfey,
| President; B. !. Arnold, Acting Cashier. The
State National Bank of Knoxville, Tenn; capi-
tai, 500, 600; William d. Kenner. President; A.
H. Nave, Cashier. The First National Bank of
Scottdale, Pa: capital. $4,000; A. T. Keister.
President The First National Bank of What.
com, Wash; capital, $4,000; c. NJ. Atkins,
| Cashier. The First National Bank of Somer-
set Pa: capital, 1000: Edward Scull, Presi-
dent; Andrew Parker Cashier. The Frankfort
National Bank, of Frankfort, KY. capital,
sl00. 900; J. s. McKendrick, President; John w.
Pruett. Cashier. The First National
Bank of Jeanette, Pa; capital, $50
Charles r. Smith, Cashier. The First
National Bank of Stephenville. Texas. capital.
$50, 900: c. ]. Shepard, President: II. NJ. Nc
| Knight Cashier. The National Bank of Cali
fornia. at Los Angeles, Cal; capital. $3.50, 600;
John NJ. c. Marble, President; w. G. Hughes,
! Cashier. The First National Bank of Gates
ville Texas; capital. $4,000: Samuel j. Mesigs
President; Alfred R. Williams, Cashier. The
| First National Bank of Bastrop, Texas; capital,
$50, 600; ]. c. Buchanan, President; s. Duncan,
Cashier. The National Bank of Asheville
North Carolina; capital. 100000; D. c. Wad-
dell, President: Lawrence Pulllam, Cashier.
The American National Bank OF Pueblo. Colo
RADIO; capital, $780, 600; Oliver II. Baxter, Presl-
dent; Robert Gibson, Cashier. The Citizens
National Bank of Adams. New York; capital
$50, 600; George Mather, President; William H.
hathaway. Cashier. The Pierre National
Bank of Dakota; capital. $4,000; Patterson F.
Mcclure, President; Edward H. Andrews,
Cashier. The Elmira National Bank of New
York; capital, 500, 600; C. E. Selover, Presi-
dent The National Bank of Wahpeton, Oak;
capital S5O,00O Daniel Patterson. President;
Walter H. Carter, Cashier. The National Cap
ital Bank of Washington D. c.; capital, $780,
600: John E. Herrell, President; William B.
Baldwin Cashier. The First National Bank of
Ainsworth; capital, S50,000; F. B. Tiffany,
President; c. G. Alton, Cashier. American
National Bank of Omaha, Neb.; capital, $780,
OOO; John L. McCagne President: Thomas H
McCagne, Cashier. The State National Bank
of Frankfort, KY; capital. $4,000; Fayette
r
The Citizens National Bank of Chillicothe,
No.; capital, $4,000; Thomas McNally, Presi-
den; William Wilberforce Edgerton. Cashier.
The First National Bank of Ouray, COL; capt.
tai. s5O0 600; George Arthur Rice, President; l..
l. Bailey, Cashier. The First National Bank of
Neigh, Neb; capital. $4,000; John j. Roche,
President; William c. Estes. Cashier.
The iron market has developedn no reactionary
features during the past week. The demand
continues active, and the mills are running
full. Bar iron has advanced in sympathy with
pig, and is held at the 81 so rate. Metal is firm
at SIG This is an advance of about 81 per ton
within the last eight weeks. The building boom
all over the country has stimulated the demand
for nails, and they are firmly held on 50 rs ba.
sis for wire and So for cut. The proposed syndi-
cate has fallen through.
The Pittsburg Land and Building Company
is new organization for handling real estate
Its chief object is to acquire title to land erect
buildings thereon, and sell them on reasonable
terms to people whose means do not permit
them to become all at once proprietors. The
officers are: President. Mr. c. p. Ford, Presi-
dent of Select Council; Vice President, Mr. w.
H. House, of the City Attorneys office; Secre-
tary and Treasurer, Prof. c. B. Wood, of the
Pittsburg High School; Attorney S. A John
ston, ESQ.,; Managers, Messrs. Straub & Morris |
These names of prominent citizens will com
mend the enterprise to the confidence OF the
community. The present capital stock of the |
company is $4,000, but it is proposed to in
crease it to S5OOO When sufficient stock has |
been subscribed, the present Board of Direct |
ors will resign and new one be selected. |
From circular just issued by the company,
the following is quoted:
The advantages arising from the aggregation |
OF capital in the hands of an incorporated |
company, used for this purpose are obvious. |
1t costs much more, proportionately. to pur-
chase single lot and erect a single building, |
than it does to buy block of lots and erect a |
number of buildings under one contract. The |
saving in this respect is, in itself, good profit
on the capital invested. Blocks of comfortable |
small dwellings can be erected and sold to
those who wish to buy homes at less price than
they can buy and build for themselves.