Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-07-08
BOOM FOR EDGEWOOD.
Extensive Improvements Proposed by
the Pennsylvania Railroad.
AND FREIGHT HOUSE.
Speculation Fails to Respond to the Fxpec-
tatiens Of Spectators.
TIE NEWS AND GOSSIP OF TIE CITY

Information comes from reliable source
that the Pennsylvania Railroad is arrang-
ing for extensive improvements at Edge
wood. The rapid growth Of the borough has
made it necessary to erect larger station
house to accommodate the increased patron
age of the road. The present building will,
therefore, be removed and q larger one
erected in its stead. 1t will be one of
the handsomest on the road. Agent Shauer
has been notified to move, which is an indi-
cation that operations will soon begin: In
connection with the passenger depot, and
probably under the same roof, will be
warehouse for the accommodation Of the bust
ness part of the community. There will also be
ticket, telegraph and express Offices and
side track to the warehouse.
These improvements, when completed, will
give Edgewood quite city-like aspect, and be
stimulus to business, as well as an induce
ment to buy land and build homes. The bor-
ough has water, gas, electric lights and post
office, and will soon have schoolh ouse; and
now. that the railroad proposes to increase its
facilities for the handling of passengers and
business, nothing is wanted, 1t would seem, to
complete the felicity of the inhabitants-ex-
cept population, which will come in due time.
Railroads Under the Hammer.
During the first six months of the present
year the number of railroads sold under fore
closure was greater than in the corresponding
period for several years The record shows
that during the time indicated N completed
roads. with ,9l3 miles of line, and representing
in their securities over s92, 100000 were sold
under the hammer. bringing only fraction of
the original apparent investment For the
first six months of 1889 there were eight sales,
covering Isis miles. and se2 900 Of capital
and debt, and for the same period of 1888 II
roads, with only 755 miles, and s8l, ,42S 600.
These foreclosures, as general thing, were
the elimination of financial difficulties extend
ing through q series of years. and in some
cases were the ending Of long periods of re-
celvership. Some of the roads were weighed
down by excessive capitalization, and others
run through sparsely settled territory, where
there was not enough business to pay expenses
roads on paper. These forced sales by no
means reflect the condition of the railroad in
terests of the country. They were never more
hammer.
Business News and Gossip.
Two enterprising young ladies on Fourth
avenue, who have had considerable experience,
are talking of starting in the real estate bust
ness for themselves
rittsburg has plenty Of room to spread our in.
There are at least 1000 acres of unimproved
land in the Edgewood district alone.
Forty-three mortgages were on file for record
yesterday. The largest was for Sl2 600 Sixteen
were for purchase money.
Aproperty on lower Penn avenue has changed
hands three times within six months, and each
time at an advance. Investors are paying more
attention to that thoroughfare than formerly
The recent deals In acreage on the Panhandle
Railroad have excited quite an interest in that
locality. 1t is admirably situated for homes and
manufacturing and rapid transit will make it
convenient of access.
Andrew Caster received his commission for
placing $550000 Allegheny county 3x per cent
fve-year riot bonds at par. Boston and Chicago
failed recently to place some of their loans at
the same rate of interest.
The German Savings and Deposit Bank de-
clared a asemi-annual dividend of 6 per cent, and
the Cash Insurance Company one OF per cent
w. A. Heron & Sons report the demand for
small lots fairly good. Fancy prices are seldom
asked.
1t was reported yesterday that Samuel W.
Black & Co. were about closing deal for
lot on Washington street as a site for large
apartment house.
The first bale of new cotton from the South
left Savannah. Ca, yesterday by steamer City
of Augusta. consigned to Henry Clews d Co.,
New York.
Copeland, q few years ago a browsing place
for goats and pigs, is now thickly populated
and still growing. camp of instruction for
volunteers was established there during the
war.