Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-17
SHORTCUT RAILWAY.
Route of the Projected Line to Home
stead Settled at Last.
A PROMOTER TALKS HOPEFULLY.
Raid on the Business of the Country in
the Interest of Wall Street.
THE NEWS AND GOSSIP OF THE CITY

According to information obtained yes
terday from reliable authority, the much
talked-of route of the Homestead Railroad
has been definitely determined. 1t will
start from Boquet street and strike Green
field avenue, near the residence of William
Barker, thence along Greenfield avenue and
private property to Hazelwood avenue.
thence through the north corner of Calvary
Cemetery and S. S. Browns property to the
projected bridge and thence to Homestead.
The point OF connection with the Duquesne
Traction has not been settled upon, but will
he in few days The distance from the Court
House to Homestead by this route is about
four and half miles.
The bridge will be 500 feet long, and will
cost over 100000. The cost of the road will be
about $500, ,O0O making the total outlay between
$500, COO and 100000.
Asked when work on the road would begin,
the informant, who is large stockholder, re-
piled: at is hard to say. Some of the details
must be arranged first. 1t may begin next
week. / am confident ground will be broken
this fall. but If the winter should be Dad one.
it is probable that little will be done before
next spring. Once fairly started, however. 1t
Will be rushed through as fast as possible
There are many interesting features connected
you at present. but you can say that it will be
a 20. 1t is backed by men of abundant means,
who will not stop short of complete success"
Wall Street Tactics.
New York seems to be the center of con.
spiracy to abstract and cripple the legitimate
business of the country. with view to bene-
fitting the stock market Some may wonder
how speculation can flourish when business is
on its back. The explanation is easy. In flush
times, such as the country is now blessed with,
there are so many good opportunities tor safe
and profitable investment that stocks are
neglected. Holders realize and employ their
money in other directions There are more
sellers than buyers. When times are dull
these opportunities for investment disappear,
and capitalists must either speculate or let
their money lie idle. This is the rule.
The New York cOnspirators-the bears of
Wall street-and their numerous agents at all
of the principal business centers seeing that
the country is prosperous and that large
amounts of capital are being invested in vari-
Gus useful enterprises are endeayoring to
counteract this tendency by sending out reports
of an impending panic and general collapse Of
business. The frequency of these 1ugubrious
predictions has no doubt attracted the atten-
tion of readers of Wall street letters, special
and otherwise, and they have doubtless
wondered what it meant. So far the conspiracy
has failed to produce the desired effect. Busi-
ness is active all along the line. and steadily in
creasing in volume and strength.
No bolder attempt to discredit the business
standing of the country has been made since
Wall street speculated on the necessities of the
country during the war. So far as can be dis
cerned there is no ground for it, Production is
quickly absorbed, showing that stocks are not
accommodating Railroads are unable to handle
all the freight offered. Property is being i'm
proved and homes established at rate hitherto
unknown. Money is in good supply at moderate
interest charges. Wildcatting is limited to- to
stantIal activities are on a firm footing
But facts 20 for nothing with the Wall street
crowd. They ignore them at the beginning of
their crusade and seem resolved to continue
The agitation On that line. But the public hav-
ing been deceived bv the same tactics before. is
not likely TO accept the statement tnat every
thing is going to the demnition bow-wows
against conclusive evidence to the contrary.
Business News and Gossip.
The condition of MIR. John Harper, President
of the Bank of Pittsburg. showed further i'm
provement yesterday. Unless the unexpected
happen, his recovery is only question of time.
People who are interested in the Homestead
Railway will no doubt be glad to learn that the
route has been selected, and that work will
probably begin this fall.
Eleven of 80 mortgages on file yesterday were
for purchase money. The largest was for Sl4.-
445 Eleven were for less than 81, 900 each.
Within the past two months nearly 2U0 mort
cages have been paid off.
The contractor is rushing work on Penn ave-
nue. and Wood street. Williamsburg. The
greatest drawback is a scarcity of laborers.
An outsider" said to be from Philadelphia,
leased 4 business place yesterday and paid the
rent up to April l, 1892, amounting to nearly
5000.
Arranvements are being made for the erec-
ton of several more apartment houses out Fifth
avenue. They are growing in pOpularitl.
A member of the firm of Black & Baird said
yesterday: There will be the greatest rush
next spring for dwelling houses ever known i'll
Pitrsburg. 1t is great now. A great many out
siders are coming in. but where they will find
quarters is more than can tell"
The Bank of England's directors at their
meeting Yesterday made no change III the rate
OF discount. as was expected.
AdyIces from Cuba indicate very favorable
Weld for the sugar crop.
Fourth avenue real estate broker will
probably be among the bidders for the ex-
change building
New Buildings.
This interest is picking up again. notwlth-
standing bad weather and worse roads, Ten
permits were taken out yesterday, The list
follows:
Frank H. Speer, four frame two-story dwell
ings, lsx44 feet. each on Gerrett street. Twenty
first ward. Cost $500.
Frank 81. Speer, frame two-story dwelling,
2SxS6 feet, on College avenue, Twentieth ward.
Cost. s., 500.
Lemuel Hall, four brick two-story and man.
sard dwellings, 2OxS2 feet each, on corner of
Gross and Cypress streets, Twentieth ward.
]. W. Moore. iron-clad addition one-story
factory. 24x6O feet on Twenty seventh street,
Twelfth ward. Cost sIuO
Samuel Kelly, frame two-story dwelling, ok
"a feet, on Euclid avenue, Nineteenth ward.
Thomas Thompson, frame two-story dwell
ing. l7xls feet, on Arch street, Twelfth ward.
Margaret o'Brien, frame one-story dwelling,
l6x46 feet on stobo street. Fourteenth ward.
John Staple. frame two.story, basement and
Twenty-fourth ward; cost, s., ,376
Samuel Humphr1eS. frame two-story dwell
ling, I7xS2 feet. on Holmes street. Eighteenth
Ann Hoffman, frame two-story dwelling, Tx
81 feet, on Merriman alley, Twenty-sixth ward;
cost s., 500
Movements in Real Estate.
The sale of lots at Walls station yesterday by
Baxter, Thompson & Co. and Gay & Bair was
quite satisfactory. considering the weather
Thirty four were disposed of at prices ranging
from sIOO to S4Uo. Almost every one who at
tended the sale was buyer, showing an active
demand for building sites in that locality.
Baltensperger & Williams sold for John S.
Wilson to prominent minister of the CITY
lot 50x140 on Craig street. Bellefield, just north
of Center avenue. for 81, 200.
8. A. Dickie Co. sold for Melvin & Smith
four more lots on Bennett street to 7. P. Mar
SHALL Nos. 33. "a, 35 and 36 in Melvin & Smiths
plan. at Homewood station, 120x135 feet, for
IS. zoo, making l6 lots secured by Mr.. Marshall
from this plan.
Reed R. CoYle 4 Co sold tn Samuel Enster