Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-20
COMING OUT AHEAD.
More Capital Coming Into Pittsbure
Than is Going Away.
PRACTICAL POINTS ON THE QUEER.
One Small Transaction Tells the Story of
the Day on the Local Exchange.
THE NEWS AND GOSSIP OF THE CITY

"Pittsburg is not losing any capital" re-
marked a prominent investor yesterday,
"While considerable home money has re-
Gently been exchanged for real estate in Chi
cago and one or two other cities, as much or
more has poured in from the East and the
West and entered into the business activi-
ties of the city. In this respect we are even,
if not ahead. No city in the country offers
better opportunities for money making than
Pittsburg, and this will always insure an
abundance of capital and cause the inflow to
be greater than the outflow. This is seen in
the fact that we seldom suffer from financial
stringency, and never seek outside help to
carry forward any enterprise, however i'm
portant it may be. Pittsburg is as near self
supporting as is possible in this age of wonder
full works"
Something About the Queer.
With dangerous counterfeit floating
through the city, as mentioned in THE Dis
PATCH yesterday. a few points on the queer"
and how to detect it, from a prominent
fnancier, will, doubt, be of interest. On
both the United States notes and gold and
silver certificates there are usually small en-
graved figures under the check letter. The
small figures have been printed on all notes
since 1852 These should be carefully observed.
All Treasury notes issued since 1869 have been
printed on fiber paper. When examined under
the microscope these hbers have; the appear
ance of coarse black hairs scattered promiscu-
ously ever the surface of the note So far as
known none of the gold certificates have been
counterfeited, but two denominations of silver
certificates have.
National bank notes are divided into three
classes-the old series the series of 1875 and
the series of 1882. All of these series have been
counterfeited. Photographic notes are not
dangerous, as it has been found impossible to
reproduce the colors. Coloring by hand has
been more successful. On the recent counter.
feits that have appeared the tints of the seals
and numbers are excellent but the general ap-
pearance of the notes is so bad that an ordinary
person handling money can readily detect
them; but some of the counterfeits are so we'll
executed that they escape the trained eyes of
experts. The best way for people to do when
they receive money is to carefully note from
whom they get it. If from stranger, and the
note be for a large amount, it should be sub
mitted to a competent judge for inspection.
This is the only rule that will apply in all cases
and to everybody.
The government has been so vigilant and
active in routing counterfeiters from the East
are known to be working in that part of the
country. They find the South and West more
congenial to their occupation. Still every now
and again a counterfeit turns up in Pittsburg
or some other city further East, warning the
people to be always on guard against decep-
tion.
Business News md Gossip.
Some capital is going away from Pittsbure,
but more is coming in, leaving the balance on
the right side.
A big deal is talked of, in which, 1t is said, a
London capitalist will figure. 1t is being
worke1 SO quietly that nothing tangible in re-
gard to it can be ascertained
The mortgage list yesterday dropped to %.
The largest was Sc 600. Eight were for purchase
money.
Black 4 Baird yesterday sold the ground rent
of the entire block on the west side of Smith
field street. between Diamond street and
Fourth avenue. This property was conveyed
in IT'S by John Penn and John Penn, Jr., to
Nathan Mcdowell for sl2 los, or little over
$50 The ground rent remained in the Mcdowell
family until the present sale. The signatures
of the Penns are as distinct as when affixed to
the deed
A farm specialist remarked yesterday: II
have a number of farms for sale, but there Is
scarcely any demand for them. 1t is always so
when business is good In the city. Prices range
from $50 to 500 an acre"
National banks have received circular from
the Controller of the Currency requesting them
to keep correct account of all receipts
separating the various items into coin,
coin certificates legal tenders, checks, drafts,
etc.
Trustees for the Peoples Savings Bank, nine
in number, will be elected July 2.
There is said to be still hunt for stocks of
some of the local corporations, but thus has
been repeated so often that very little reliance
is placed in it If this were SO. it would make
some impression upon open quotations Still
there may be something in the story.
A number of stock and oil brokers yesterday
put themselves on record against free coinage
Henry NJ. Long remarked that the silver pro-
ducing interest of the West demand free coin
age as the price for helping to pass the tariff
bill.
Directors of the Richmond Terminal Com
pany yesterday declared their regular semi
annual dividend of 211 per cent on the preferred
stock The Richmond and Danville directors
declared the regular semiannual dividend of
per cent
Movem enfs in Real Estnte.
A good many investors have left or are pre-
pairing to leave, the city for the summer outing,
which in some measure accounts for the lack
of new features IN the real estate market.
Business, however, is brisk for the season.
Charles Somers & Co., sold for Robert NJ
Ripp to John Eichler, three lots in the Blair
estate plan. each fronting Is feet on Lytle
street. and in depth 12O feet to an alley, for
s725; also for same to Gus Meir, lot 25xl2O, in
same plan, fronting on Lytle street, for s575;
also sold for Charles Somers to Mrs. Mary Mc-
Nally, six lots in Benton place, being Nos. II,
Is. 10. 20, q and q each "a feet on Benton ave-
nue., and in depth ITO feet to an alley, for s. 400
cash.
Black & Baird sold to David Price lot No. 81