Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-26
FOR A HOTEL SITE.
Negotiations on Foot for an Entire
Block on Fifth Avenue.
SOLID MEN WORKING THE DEAL
One Hundred Thousand Dollars Paid for Is
Acres in the East End.
THE NEWS AND GOSSIP OF TIE CITY

1t was learned from reliable source yes
terday that deal is on foot for the purchase
of the block bounded by Scrip, Cherry and
Relief alleys and Fifth avenue, comprising
about IL, 600 square feet of ground, or one
third of an acre, at price somewhat IN ex-
cess of 100000, or at the rate OF s., 600, 900
an acre.
The prospective purchasers are well-known
local capitalists and active business men,
whose object is the creation of fire-proof
hotel, eight stories high, to contain not less
than 225 rooms, and to be called the Fifth
avenue Hotel. The estimated cost OF the
building is $500, 200, bringing the total in
vestment up to $500. 900, or thereabouts.
One of the promoters of this important
enterprise is Mr.. F. x. Woog, former pro-
prietor of the Monongahela House. Another
is a wholesale grocer, who ranks among the
millionaires.
The negotiations are well under way, and bid
fair to succeed. They are being conducted
with great care and caution, as becomes a
transaction of such magnitude. For this
reason the inside history of the dicker cannot
at present be laid before the public. The
essential facts. however, are given above.
The location is considered one of the best in
the city for first-class hotel, being convenient
to all the principal places OF business and
amusement and also to the city, county and
Government buildings.
Two Local Railways.
Among Pittsburg corporations which have
forwarded reports of their business for the past
year TO the Secretary of Internal Affairs at
Harrisburg are the following:
The Federal Street and Pleasant Valley Pas
senger Railway Company for the year ending
June 30, 1890, states that the capital stock is
s., 800. 900; number of passengers carried 4.5SS-
9C0; total expenses, Sl53,644 81; total receipts,
s2Sl, $40 03. No dividend was declared for the
past year. The surplus on hand is s6l, AL So.
The Pittsburg and West End Passenger Rail-
way Company for the year shows that the total
number of passengers carried during the year
was l4l2, 45S; the total expenditures. S5s064 so;
and the total receipts, SS7, 1856 81: dividends de-
clared we're, 81 per share on 1000 shares Decem-
Der 81; 81 cash per share June 80; scrip. IS per
share on June 80.
The Oil City and Ridgway Railway and Min
ing Company capital stock is S3O0,0OO No div
idends were declared for the past year, as the
coal mines of the company were not worked for
the II months ending June 80, 1890.
Business News and Gossip.
Absentees are returning. and business is pick
ing up all along the line.
stHave you any houses to rent?'' is the in
quiry that is most frequently fired at real
estate agents. The supply is far below the
demand. With more houses Pittsburg would
grow faster.
Real estate is a dull article in Boston, judg-
ing from reports in the papers of that city.
The new rlant 0f Hussey Rims Co af
Charleroi will not be ready for operation be-
fore late in the fall.
The County Court of Kanawha county, W.
Va, has asked for bids for a steel bridge over
Elk river. in that county; also for bridge over
Three-Q Quarter-Mile creek
Aiken avenue, Home and Roup streets In the
Shadyside and Bayard and Craig streets and
Center avenue in the Oakland district. are be-
ing graded and curbed preparatory to paving.
DR.. Reynolds, of Hutton, is completing ten
dwellings in Grandview place. Lincoln avenue.
Tracks for the electric road have been laid
from Frankstown avenue to Shetland on Lin
coin avenue. and will soon be placed from Shet-
land to Larimer.
Among the building permits taken out yes
terday was one by NJ. Oppenheinler. for a nine
story business block to be erected on Penn ave-
nue., between Eighth and Ninth streets, at a
cost of $4,000. The building will be of stone
duu WIN 1IVutdSo VI ~ leeL anu q
depth of $50 feet. Mrs. P. Hughes was author
lied to construct five two-story brick residences
on Negley near Penn avenue, to cost ST, 600
each. Mr.. John r. mckinley took out per-
init for a brick and stone three-story residence
on Forbes avenue, in the Twenty-second ward.
1t will cost S3l, 900.
Sproul Lawrence'siWall street correpond-
ents wired yesterday: I'VE have seen a dis
patch from Washington to prominent bankers
in the Mills Building, which says that Secre-
tary Window will adopt most vigorous meas
ures TO relieve the money market, even to the
extent of making deposits of Government
funds in the National banks"
The Pennsylvania Railroad reports that the
quantity of coal and coke originating on and
carried over its lines east of Pittsburg and
Erie, for the week ending August 16 was S0s,-
3S5 tons, of which I'll, 2O5 tons were coal, and
81, $50 tons coke.
Hittsburg led Baltimore in the bank clearings |
last week by s.. 500 0OO and was less than ST. OOO
600 behind San Francisco.
Movements In Real Estate.
An important transaction in East End acre.