Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-22
THE DRIFT OF TRADE
Enough to Show That Real Estate is
Still a Lively Interest.
DEALS CLOSED AND PENDING.
Business Marching Right Along and Smash
ing Last Years Record.


ing Last Years Record.
THE NEWS AND GOSSIP OF THE CITY
The bulk of the movement in real estate
Is still confined to the East End, although
considerable interest is growing up in the
Ellsworth district, due to the beginning oi
work on California avenue and the assur-
snce of rapid transit at an early day.
The effort to open up the Twenty-second
and Twenty-third wards, where there are
hundreds of acres of undeveloped land, by
street railways and other m cans bids fair to
be successful. Mr.. Burchfield says the bridge
across the Monongahela river. for which he has
a charter, will be built, and those interested in
the shortcut road to Homestead say it will be
put through.
Out Fifth Avenue Looking Up.
Fifth avenue property between the Court
House and Soho is looking up. During the
week Black q Baird made two sales there,
both of corner properties. The first was corner
Of Fifth avenue and Stevenson street. 40x70
feet for $4,000 The other was corner of Fifth
Those who travel into town by the cable cars
see daily an improvement in the class Of stores
on this part of the avenue. 1t Ii held that as
soon as some large establishment is opened,
with attractions sufficient to cause many Of the
passengers by cable to stop and buy, there will
be still more active demand and quick
enhancement of values in that quarter. Mean
while perceptible increase of local trade is re-
ported.
Two other transactions of some Importance
were uncovered yesterday. A lot 49 feet 'front.'
on Ellsworth avenue, near Penn, with three
two-story brick houses, changed owners for
SIC. 900. the purchaser being James Schusler, as
understood. The same gentleman is'reported
to have sold a lot. corner Penn avenue and st.
Clair street. East End. 5Oxl40 with two-story
brick building, for sl0.70o These prices show
thar values are not shrinking.
Kaufmanns, the clothiers, slipped away to
Jeanette few days ago and picked up TWO
hne lots there, for which they paid S5,000 1t is
said they will erect large business house on
the property.
The sale Of Fort Pitt Land Company lots at
North Jeanette yesterday by Baxter, Thomp-
son Co., resulted satisfactorily, considering
the weather, which was showery, preventing
many persons from turning out. About 200
people were on the ground, and the demand
less, were disposed Of at fair prices.
Up 10 the Winter Pitch.
The conditions under which business is prose-
cuted seem to have undergone change this
year. This is true of Pittsburg. and will proba-
bly,, with some notifications hold good when
applied to the country at large. Formerly very
little was done in the summer season. Stocks
we're allowed to run down and production fell
off. Production and consumption were mar
rowed to actual and immediate requirements.
1t was period of semi-idleness. Now, how
ever, instead of mills running on half time or
altogether idle, stores scantily patronized and
streets almost deserted, business is nearly up
to the spring level. There is no material halt
in the onward march of general trade.
Nothing shows this more clearly than the
Clearing House reports. Bank exchanges are
almost up to the fall and winter pitch. The
demand for money prevents large accumula-
tions and keeps rates from coming down. Capt.
tai is more generally employed than in any cor
responding season in the history of the city or
country. Prosperity such as we are now expert
encing, cannot last forever-it will rise and fall
as it always has done, and will continue to do;
but there is nothing in view to warrant fears of
an Immediate check to business. It has suf-
fcient impulse to carry it through the summer.
So
Business News and Gossip.
It is said that two or three property owners
on Diamond street would like to buy the Ex-
change building. If business does not improve
it may be sold. There is considerable earnest
talk to this effect.
The Panhandle Railroad is agitatlng the
question of building new and commodious
station. on Fourth avenue, in place of the old
one. Patrons OF the road are urging the i'm
provement
There is movement to secure better accom-
modations on the Panhandle Railroad SO as to
hasten the settlement of large territory a
few miles below town. Prices are low and
owners think better facilities for reaching it
would start little boom.
Rea Brothers Co. bought 40 shares Mer-
chants and Mauufacturers' Bank at 7OL.
George B. Hill & Co. sold 60 shares Bank of
at about 70.
The Allegheny County Light Company has
declared a half-yearly dividend of per cent,
payable July l, at which time the books will |
be reopened.
Pittsburg is growing, regardless of the CEN |
sus. Fifty-elght permits were taken out last |
week for s6 buildings. With fair chance the |
rest of the year the record of 1889 will be badly
broken.
= A business house on prominent corner, in |
Luo uelRncOTuOOu OIL Ln6 new pOSLOn1Ce, Will |
probably change owners this week. The price |
named approximates $4,000.
A movement of some kind Is expected on |
Grant street. above Fifth. before long. Dick
ering for several properties there has been
going on for month or more, and the parties |
are said to be very close together. A leader is
Ill that is needed to infuse new life into thar
part of the city.
Movements in Real Estate.
There was the usual gossip during the week
If large deals in and about the city. A Philadel-
,hia capitalist was said TO be anxious to invest
! large sum in unimproved property In the vi
Unity Of Homewood. One or two more farms
It Parnassus changed hands and it is under
tood local glass manufacturer selected a site
here for large plant. A gentleman from
iincinnati came to the city on Friday to make
N investment and his broker says he sue.
,eeded, but nothing further could be learned.
1 is thought he secured business property on
over Penn avenue and will occupy it.
Rumors are not business. but, to quote Long
fellow, they resemble it "as the mist resembles
he rain" They are straws and possess GER
ain value to the investors.
Anderson & Beeckman, Linn, sold for ]. n.
lot 25x120 on the east side of Lytle
treet. Twenty-third ward, to William Collins
or $500