Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-07-20

a square or two above the railroad on North
avenue. the average price is about 500 foot.
A few well improved properties are rated
higher at $500 to s., 900, Before the parks were
opened, property within the limits mentioned
could have been purchased for 500 foot.
MiIlionaires of the Future.
Ashas been stated in THE DISPATCH within
the past year a number of well-known Pitts
burg investors in Chicago realty have appar-
emily struck it rich, Mammoth business enter
prises have long been seeking sites for their
plants in the windy city. This, with the great
impetus given the city by the absorption OF
large tracts of rural land, and independent of
the stimulus of the Worlds Fair, has caused
an advance in real estate which amounts to
almost boom. Many investments made on the
quiet by Pittsburgers have already, it is
claimed. yielded rich returns. 1t is well known
that those of John Walker and Heny Phipps.
made through one firm and aggregating over
SsO6,000. have nearly doubled in value within
the past Il months. Another syndicate, COM
posed of Pittsburg men, it is stated, has made
a round 500, 900 by single fortunate stroke in
realty.
The latest instance of good fortune to Pitts
burg people investing in Chicago realty, Is the
consummation of the gigantic deal between the
Northern Pacific and the Baltimore and Ohio
Railroads, by which, through the purchase of
460 acres in the western part of the city, upon
which they will erect costly improvements,
they have secured what has been desired by
them---a new suburban railway, and also
transcontinental route from ocean to ocean.
The tract purchased by these corporations lies
midway between and practically adjoining the
Grant Locomotive Works and a body of 100
od hv
c. Lyme, of Pittsburg. and George w. Cass, of
ChicaSb. The Illinois Central and the Balti-
more and Ohio will build handsome depots in a
very short distance of. this tract. which will
make it very valuable. 1t has already ad-
vanced over 80 per cent, according to the state
ment of one of the owners
If all the ventures of Pittsburg investors in
Chicago realty turn out as well as those above
mentioned are reported to have done, the list
of local millionaires will include a number of
new names before the next census year comes
around.
Close Competition.
During the week ]. B. Larkin & Co. and
Thomas Liggett had a property for sale on
Fifth avenue. owned by ]. ]. Stoer, who is
living in Rowelsbury, W. Va. Both parties
were hustling to make the sale, and both sold.
Mr.. Liggett sold for $4,000 net to lady GUS
toner, and ], b. Larkin & Co. to Thomas
Aacket for So, 300. Both sales were made with
in an hour, and Mr.. Stoer was telegraphed to
for the deed. That gentleman came to the city,
and the controversy was settled by Mr. Stoer
giving the property to the highest bidder and
paying commissions to both dealers. The sale
was hardly closed before W. H. Brown, the
coal dealer, stepped up and offered Larkin &
Co. $1,000 The property is now held at Sl2. 600.
do, frrr0 oocl,
refused for 50xlUO feet on the west SIDE of Oak
land avenue, below Forbes, the owner holding
it at 5000, or 500 per foot front.
Hog and Hominy.
The various States and the Department of
Agriculture reports show the crop prospects of
the country to be up to the average to date
Some sections have suffered from drouth and
other portions have been visited with heavy
rains. but the general outlook is favorable. 1t
is an admitted fact that agriculture is the un-
derlying industry of the world. With abundant
breadstuffs all over the country prosperity
reigns and business is remunerative. Farmers,
as general thing, are in good spirits. They
have been able to do but little in the way of
improvement for several years, but with a
steady advance in grain and an average crop
this year, it is probable that they will make
many needed repairs.
Business News and Gossip.
Sales of stock on call during the week were
J, $40 shares, of which Westinghouse Electric
nearly one-half There were no sur.
prises.
f. G. Sauer, architect for the Boulevard
place syndicate, has about completed plans for
20 elegant stone residences to be built on their
recently acquired property there. Ground will
be broken this week.
There is good demand for city and street
railway bonds in small lots, but no heavy buy
ing. Considerable money has been put into
this class of securities within the past month
or two.
Andrew Caster sold $50 shares of Pittsburg
Traction Company stock at g. Henry M. Long
sold 90 shares of Electric at 3S.
A prominent stock broker remarked vester.
day: Il am in favor of organizing a stock ex.
change pure and simble, dropping oil metal
and everything else, and giving exclusive at
tention to local securities. 1 think This would |
Interest outsiders and build up a profitable |
w. j. White took his departure for a tour of
the Eastern pleasure resorts. ]. r. Maxom
went to Cresson with his family. He will re-
turn tomorrow
Permits for 81 houses were taken out last
week, the estimated cost being S23S, ,6S9. The
most important were for two street railway
Property on Penn avenue, near Fourth, is
offered at S70Oa foot. On the same thorough
fare. near Eighth, sale was made during the |
week at 81, 800 foot.
One of the downtown restaurants changed !
hands yesterday at a good figure. Papers will
be passed tomorrow.
Movements In Real Esfate.
Brown Saint, assisted by Hamnett & Mere
ath and Baxter, Thompson Co., sold 126 lots
in the Routh place plan at Wilmvrding. yester-
day. The total sales were S5S,U00 1t was their
opening day for the sale of this plan. and
special train was run for the accommodation
of the purchasers to and from the city.