Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-07-03
THEY STAND HIGH.
Local Financial Institutions Managed
on q Conservative Basis.
DIVIDENDS SELDOM GET AWAY.
Petroleum Creeps Up Little, While Home
Stocks Hold Their Ground.
THE NEWS AND GOSSIP OF THE CITY

1t is rare thing for one of the many
financial institutions of Pittsburg to fail to
declare dividend at the regular time. This
is not only gratifying to the stockholders,
but it strengthens public confidence, and
causes an active demand for the stocks. 1t
also shows good management on the part Of
officers and directors, which is guarantee
of safety to investors.
| Pittsburg fnanciers have achieved
national celebrity for conservatism in their
| dealings. This is much to their credit.
| While by no means lacking in enterprise,
or blind to the main chance, they make 1t
rule to thoroughly understand all the de-
tails of a transaction before embarking in
it. Kite flying and wild eating are almost
unknown here. This accounts for the infre-
quency of failures among local monetary in
| stitutions.
| OF the 81 city corporations which have or will
| announce dividends this month, 33 are banks, IL
| are fire insurance companies and 30 are miscel-
laneous concerns, and the total disbursements
| will reach a sum approximating 81 000, 600. This
money will be invested in the activities of the
city and stimulate trade in all of its branches.
x&
Popular New President for nm Old Bank.
At recent meeting of the Peoples Bank for
savings cnange TOOK place In tne organlza-
tlon several new directors pelng eiecteo, repre-
sentlng important business interests, and u.
NICK. Lloyd, Esq, being chosen President. The
Peoples is among the Oldest and best known of
our savings banks. 1t is to be heartily congrat-
ulated on its new chief executive Mr.. Lloyd
is one of the most deservedly popular of the
younger generation Of Plttsburg's business
men. Bralny, energetic, Oh the highest stand
ing IN Manufacturing, mercantile and nnancial
circles his personal influence alone and wide
acquaintanceshlp will shortly reinforce the
old-tlme prestige Of the Peoples. The choice
OF the new President has already been most
favorably commented upon.
$50
an" "o'p y, .ne
ihere Is petter inquiry Ior Dulloing slIes on
tne oouInsioe Inah ior several years. many ol
the leading business men are pullolng OF Will
build handsome residences there this season.
W. A. Heron q Sons yesterday placed
mortgage for sll,0OO at b S-l0 per cent on East
End property.
The Duquesne Traction road Is progressing
In nne shape. Ralls are down on North dlgn-
land avenue as lar as Hoeveler street ana on
Ellsworth to South Highland
Ihomas McGowan, the Liberty street pro-
ouce dealer, telegraphed yesterday Tor state
room on the steamer Umprla, Wnlcn sails on
saturday Tor Liverpool, Tor MS wife and nurse
and was informed that he was too late, as every
room had been taken. The number OF Pitts
burgers booked for the Old World this summer
is unusually large. Chancellor Golf sailed yes
terday on the City Of Chester
Ground squirrels are playing havoc with the
gardens in the upper part of Edgewood. In
some cases pea vines have been stripped and
cappage plants eaten to the ground country
NE mas some ora"packs.
FRED Rlnenart sold oo snares OF fleasant
Nahey Railway STOCK at 2S9s.
MI. ). Ledhe Glonlnger, OF Black q Baird,
returned yesterday from MS summer vacation
mnne away ne vlsiVeo baitimore, concerning
pooI o,..tn q, I;e.Ioo. rl .Is
hardly equal in its appointments to our worst
Business nronertv on the best streets ia valned
At about 50 nm a foot front Ivas Glad 20 rat