Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-07-15
A BIG DIFFERENCE
In the Matter of Buildings Between
Pittsburg and Philadelphia.
THE sOUTHslDE FORGING AHEAD.
Home Securities Make Spurt Of Activity,
but Oil Sticks in the Rut.
THE NEWS AND GOSSIP OF THE CITY

In no respect, perhaps, IL the difference
between Pittsburg and Philadelphia more
clearly defined than In respect Of building.
George W. Hancock, President Of the
Citizens Trust and Tax Indemnity Com.
pany Of the latter city, is Of the opinion
that the building boom there has arrived at
stage where halt should be called, the
supply OF houses being greater than the
demand, and any great increase would be dead
stock. This means that Philadelphia is over
built.
II is different in Pittsburg Although build
ing is going forward at the rate of 1900 or 5000
houses q year, the demand is far beyond the
supply. A broker remarked yesterday that he
could rent 100 moderate-priced houses In q
week IL he had them. Several other brokers
said they had orders on their books for houses
which they were unable to I'LL. A good deal OF
the demand is from outsiders, showing that
population is increasing. This in turn, reflects
activity In business as il is the loadstone which
attracts.
The prospect Of q surfeit of houses in Pitts
burg is SO remote as to be scarcely worth con-
sidering. The difficulty is to build fast enough
to accommodate the demand. This 10 SO ur-
gent that capitalists should accept it as guar
build, they will run no risk of having anything
left unlet or unsold.
Improvement on the southside.
In no part of the city has the march OF i'm
provement made greater progress within the
past few years than on the Southside. This is
more noticeable in the hill districts than in the
settlements along the river; for, while it has
been making haste slowly, the former have
I'd with de
Hundreds of acres unimproyed a few years
ago have been subdivided, sold, paid for and
built on. view from Mount Washington
presents the aspect of a continuity of houses,
covering hill, valley and slope. denoting con-
dition of thrift scarcely equaled on this side
of the river. Mount Washington. Knoxville
and Beltzhoover are emphatically ''in the
swim" Land values are stiffening, but it will
be long time before they will reach what are
called fancy prices. This is an inducement to
home-seekers.
The future is full of promise and even greater
things in the way of improvement than have
been accomplished in the past. Rapid transit
will soon reach the hilltop districts and bring
them into easy communication with the busi-
ness centers. This will stimulate the demand
for residence sites and augment building opera
tions. A good feature of the activity is the
fact that it has the earnest support of the busi-
ness element of the population. showing that it
is not of the mushroom species, but practical
and perm anent. 1t is not a speculative move
ment, but has the laudable object Of making 1t
as easy as possible for people of limited means
to ac cquire homes where they will be surrounded
with modern conveniences and refining in
fiuences.
Business News and Gossip.
A broker In real estate re marked yesterday
that about one sale in light was reported. One
firm of brokers has been kept busy for some
time filling orders for the Duquesne Traction
Company.
If the Casino Museum building is for sale the
owner, Mrs. Sawyer, has changed her mind
within a short time Mr. D. P. Black tried to
buy not long ago and was informed it was not
on the market.
A Plttspurg gentleman, who returned from
Chicago yesterday, said that one of the real
estate firms in that city sold ST. 800 900 worth of
acreage there last week.
John d. Bailey sold so shares of Philadelphia
Company stock at 805s, and so Monongahela
Navigation Company at 70-both dividend off.
A new counterfeit 81 silver certificate is in
circulation. 1t is said to have q close re.
semblance to the genuine.
The eject OF the passage of the silver bill
upon the stock market yesterday morning was
oor,Taaa.e.
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