Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-28

o.
Black & Baird had just closed a $50, 900
| sale on lower Penn avenue, presumably in
the vicinity of Sixth street, to Henry
Phipps, Jr., but as the deeds had not passed
they refused to give particulars. The price
is a considerable increase over previously
reported deeds on that portion of the avenue
in question.
A Millionaire Talks.
To become millionaire by his own ex-
ertions man must possess a rare combina-
ton of business qualities, such as would
make him leader Of men and of affairs
under any circumstances; and what he says
touching the various enterprises and move
ments OF the day carries more than ordinary
| weight
One of these fortunate beings was passenger
| on an accommodation train from the East End
| yesterday, and during the trip he talked freely,
one of the topics being the estimation in which
| rich men are held by poor people. He quoted
| a proverb to the effect that men gather and
| their children scatter, and went on to say that
! that was the experience of all ages. In this
| country very few great fortunes had been hello
| together. Everybody here had an equal chance
| to get rich. There was no royal road TO wealth.
| comfortable circumstances. The trouble was
that people would not live within their means.
They squandered on luxuries what would give
them a good start. This was especially true of
newly-married people, Instead of beginning at
the bottom of the ladder, as their parents did,
and climbing up, they began at the top and
generally, in the the course of few years,
found themselves burdened with debt and with
expensive habits which made saving next to
impossible.
He was of the opinion that the concentration
of capital was good thing for the country. 1t
had been the means of carrying out many
great enterprises and Of giving employment at
good wages to the laboring element, which
otherwise would have been impossible. In his
boyhood, he remarked, capital was much more
diffused than now rather it was much less
concentrated, and the result was there were
few important improvements. There can be
no great development without concentration of
capital. One man with s., 600 in hand can do a
great deal more than ten men with 500 each,
unless they combine and then they are equal.
If people of small means would act on this
principle. he concluded. they would soon
realize the power and benefits of combination.
Business News and Gossip.
Several new cars for the Pittsburg Traction
road arrived yesterday.
Nos. 636 and 63s Smithield street are being
torn down to make room for a fve-story busi-
ness house.
OF 81 mortgages reported yesterday the
largest was for 5000. Eleven were for purchase
money.
The avidity with which people are seeking
homes of their own is one of the cheering
signs Of the times. 1t indicates wide diffu-
sion of prosperity. Values are yet within the
reach of all.
There was a sale of unlisted stock on 'Change
yesterday cow-by Mckee & Hagan. It
went to Peter Shatz for $50. This was one. of
the features of the day.
Increased railroad earnings seem to be losing
weight in Wall street.
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 May II was 33G 69l
tons, OF which 2S2,SSS tons were coal ana 81 ,S0S
tons coke.
Earnings of the Pittsburg and Western Rail-
road for the third week in May show an in-
crease Of 81, III.
The general sales agents of the several large
anthracite mining and transporting companies
will meet in New York to-day to discuss the
question of an advance in prices.
Movements IN Real E.tnte.
Real estate brokers reported good inquiry
yesterday, with number of deals in fair way
to be closed up Transactions made public
were:
James w Drape & Co. closed the sale of a
residence property on North avenue. Allegheny,
lot about 22x110 feet, for a figure approximat-
ing S2l. 900; also a mortgage on residence and
lot at Homewood East End, of $4,000 at per
cent.
Samuel W. Black d Co. sold the property
corner Second avenue and Mansion street,
Glenwood, Twenty-third ward, being lot 26xl22,
with two-story frame dwelling of six rooms,
for 81 600.
w, w, Elderkin sold for Nicholas Hartman
and others in Hartman's Grandview place plan
of lots, Twenty-first ward. two lots to George
W. Jenkins. being Nos 26 and q. 25xlSO feet
each. fronting on two streets. for $500; also two
lots in same plan for Hartman and others to
William T. Bowers, being Nos. % and 29 25x2OO
feet each, fronting on two Streets for $500; also
one lot in same plan for Hartman ana others to
Joseph Mitler, being lot No. 80. 45x200 fronting
20 feet on another street, for s475; also Gne lot
of his own in the same plan to Mrs. L. F. Krebs,
being lot No. 32 with frontage of 95 feet on
one street and 20 feet on another, for $3.50; also
one lot of his own in ]. w. Kirker's plan. Nine
teenth ward, to E. L. Elderkin, being lot No.
IA 2OxlOO on the corner of Breeds Hill and
Faunel streets. for $500; also one lot of his own
in same plan to T. NJ. johnson, 20x84, on Faunel
street, for $3.50 cash: also three-roomed frame
house, No. III Mayfower street. Twenty-irst
ward, with lot 23xlOO feet to 20-foot alley, for
Henry Wood, to Mrs. Maggie Layman for s., 500
cash.
Black & Baird sold for Mrs Ann E. Evans
lot on the west side of Oakland avenue, Oak
land, 3311Sxl2O feet, for 1888 49, They also sold
for j. Walter Hay new Queen Anne frame
dwelling on Summerlea street, near Ellsworth
avenue with lot 5lxl6l feet.
Reed B. Coyle Co. sold to Alfred Davis
three lots in Marion place plan, Baltimore and
Ohio Railroad, being 95. IL feet front on Glad
stone street. by $50 feet more or less, to %
foot alley, for $780,
Hamnett & Meredith placed a mortgage on
Williamsburg property of $1,000 for three years
at per cent.
c. Berinser & Son placed mortgage of $1,000
on a dwelling Wylie avenue, Third ward,
for three years at per cent.
Ewing & Byers sold for James Nesbit to Louis
Smith a new two-story frame house of four
rooms. with lot l6x9S Morrison avenue
Second ward Allegheny, for Sl.S00
Magaw & Gotf, Limited. sold for Mrs. Adelia
Newcomb to Thomas Hogan four lots in the
Baus plan, Twenty-arst ward, for 81, 800 and
placed mortgage for 81. 700 for seven years at 6
Der cent on property on Martin street, Allie
gheny.