Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-20
A BIG INVESTMENT.
Reymer Brothers Make a GObble Down
the Panhandle Railroad.
TRADE SITUATION AND OUTLOOK.
How to Increase the Business Capacity Of
the Downtown District.
A PLEA FOR THE SMALL GOLD COINS

A tract of land, comprising between II
and II acres, situated at Grafton, five miles
below the city, on the Panhandle Railroad,
was sold yesterday by Messrs. Straub &
Morris to the Reymer Brothers for price
approximsting SIS, ,OOO The purchasers will
lay il out in lots, of which there will be
I2O, and put it on the market forthwith. In
order to secure a good class Of residents it has
been decided to sell no person less than 80 feet
frontage. The purchase is said to be move in
the interest of cheap homes.
A member of Messrs. Heron a. Sons re-
marked yesterday: I'VE can report an active
inquiry for all kinds of property, and look for
a continued good business during the year"
The business situation locally and generally,
is well-balanced and active for the season OF
the year. Production and consumption keep
so closely together that there is very little ac-
cumulation OF stocks. There is wholesome
relation between supply and demand, insuring
steadiness of values. Business is everywhere
conducted on a conservative basis. This is
seen in the absence of excessive speculation.
Railroads are reporting large earnings, and are
likely to do still better. 1t would be hard 70
point out a branch of trade that is not in
satisfactory condition. Under such a condition
of things a reaction seems out Of the question.
On the contrary, everything points to continued
expansion.
Pitsburg is improving at a rapid rate. popu-
lation is increasing, and business expanding.
But she is still deficient in one respect There
are not enough business houses to supply the
demand A real estate broker said yesterday
that he had on his books a number of orders
for stores which, he was unable to NIL 1t is
business that attracts people to Pittsburg. II
they cannot find quarters they will 60 else
where, and the city will be so much the loser,
Capitalists are fruitful of schemes. Cannot
they devise plan by which the number Of
business houses may be increased? Water
street seems TO be a good field to operate in.
Shipping facilities are unequaled in any other
part of the city. 1t is an admirable location
for dealers in flour, grain and all products Of
the farm.
The transfer of this branch Of trade TO Water
street would be a great relief TO Liberty, and
materially increase the business capacity Of
the downtown district. 1t will come to this at
last. All that is needed to start the movement
is a leader. Who will make the break?
Mr.. E. O. Leech, of the Mint, says in reply to
an article in Frank LesIies Weekly that he has
recommended the discontinuance Of the coin
age of IS ana 81 gold pieces and the three-cent
nickel piece because they do not perform any.
use as a circulating medium. He says the $S
gold piece is struck merely for numismatic pur-
poses. while the gold dollars are mutilated and
used almost exclusively for ornament, con-
trary to the statute. The objection to the three
cent nickel piece lies in the fact that it 90
nearly resembles the ten-cent silver piece that
it is often mistaken for it. In its reply the
paper in question says: So far as the three
cent nickel piece is concerned the dlscontinu-
ance Of its coinage no doubt would be justified,
but we do not think the objections to the So
and 81 gold pieces are well grounded. They are
used for ornament or held for numismatic pur-
poses simply because they have become so rare.
If there was an abundance of them they would
not be treasured any more than any other popu
lar coin of the Government 1t is a fact, and
we call the attention Of the Director of the
Mint to it that about the holidays when gold
dollars are in dem and for presents to children,
il is impossible to get one without paying a
broker from Is TO 25 cents premium for it.
A gentl eman who wrote to the Philadelphia
Mint and tried to buy gold dollar found that
he was charged premium there also. This is
not as it should be. There is plenty of room
for the circulation of So and 81 gold coins. 1t
would do the people good to occasionally look
at the color Of gold dollar. As matters stand,
many who are entirely familiar with the silver
and paper money Of this country have no
knowledge Of its gold coin, and some have
never seen gold dollar in all their lives.