Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-02
SAVED HIS CREDIT.
A Man Clings to His Honor in the
Midst of Financial Disaster.
SAID TO FAVOR A NEW BRIDGE.
Movements in Real Estate, Petroleum,
Local Securities and Hard Cash,
NEWS AND GOSSIP ON FOURTH AVENUE

A gentleman connected with the Union
National Bank OF Pittsburg tells good
story on a business man, formerly we'll
known here who, in the course of his career,
made several failures and settled with his
creditors at % cents on the dollar. When
he failed for the last time his head book
keeper told him he could not afford to pay
more than Is cents. "That will never do, !"
replied the bankrupt. I'VE must keep up our
reputation. "rll pay Is cents if I have to take
it out of my own pocket"
Sixth Street Suspension Bridge.
The capital stock of the Sixth Street Suspen-
sion Bridge is $3.50 600, divided into 10000 shares
| of par value of SIS. The stock is widely scat
| tered, not more than one-ifth of 1t being held
in Allegheny county. Large blocks are held in
Philadelphia and Washington City. Some OF
| it has found its way to the West. At the meet
ing of stockholders called for May 81, the ques-
| tion of building new bridge will probably be
| decided in the Affirmative, as the majority of
| them are understood to be in favor Of the i'm
provement.
| Local Wall Street Gossip.
The street authorities are investigating the
merits of a new kind of frebrick for sidewalks
and pavements, which Mr.. N. S. McClarren
claims is equal to Belgian blocks and one-third
cheaper. practical test will be made soon.
Thirty-six mortgages were recorded on
Wednesday. the largest being for 81, 900. Ten
were given for purchase money.
Deposits in the savings banks of New En-
gland, New York, Pennsylvania, New Jersey
and Maryland amount to about 81, ,300, 600. 600,
very large percentage of which is invested or is
TO be invested in municipal bonds, and the ag-
of oh or nt v
the market is, at rough estimate, about sl2,-
900 900. The gradual retirement of Govern
ment bonds together with the large amount of
municipal bonds maturing annually, makes the
latter financial factor of great Importance.
The East End Improvement Company is hay-
ing plans prepared for bank building on Com
merce street, Wilmerding.
A block of the stock of the Novelty Steel
Wheel Company was placed yesterday at
special rates.
Thomas H. MCGOWAN, Liberty street COM
mission merchant sold 900 worth of produce
one day this week. among which were three car
loads of bananas at 81 so per bunch. He is en-
tirely satisfied with the business situation.
The drift Of opinion on Change yesterday
was that the failures on Fourth avenue would
help legitimate business. None of the failures
have been of sufficient importance" to make an
impression on values but may have induced
more caution.
Dividends declared: First National Bank,
Allegheny 5 per cent; Monongahela National
Bank, 8 per cent.
The Exchange National Bank of Canal
Dover, at Canal Dover, O., capital $4,000, has
been authorized to commence business.
Movements In Real Estate.
Buyers and sellers of real estate were handi.
capped by the weather yesterday, and the
result was a quiet day. number of deals
were closed up, however, among them being
the following:
W. A. Heron & Sons sold lots IL and II in
Pittsburg Bank for Savings plan. on Hatfield
street, Seventeenth ward, for $3.50 each. Size
of lots, 20xS4 feet. This closes out all the lots
in that plan.
Reed B. Coyle & Co., 1Sl Fourth avenue. sold
to Miss Mary McCready lot No. "a in the plan
of lots at Marion station. Baltimore and Ohio
Railroad being q 81 feet front on Mononga-
hela street. for $3.50.
Black & Baird, 95 Fourth avenue, sold to j.
Michalskv, for C. Wagner, the property, No. AZ
South Fifteenth street, being two-story frame
house. with lot 2OxS0 feet, for 81 05O cash. They
also sold to Edward Geary, lot No. 2S in the NJ.
G. Arthur plan, situate on Whitney street,
Fourteenth ward, being 25xl0O feet, for $780,
Charles Somers & Co., 313 Wood street, sold
lot Dean q w niltle 10 MIS-. LetlAa ~. huueIs-
ton a two-story frame dwelling of four rooms. |
hall, ETC., with lot 5Ox125 feet situate on Ohio
avenue. in Fleming Park plan, P. & L. 4. R. R.,
for s., $50 cash. Also sold for Mrs. james II. |
Aiken to Simon Parrish, lot No. Is in Fair |
mount plan, Nineteenth ward, having a 'front.'
age of 25 feet on Paramount avenue and an |
average depth of 1877 feet, for $3.50.
Allies Bailey, l64 Fourth avenue, placed a |
mortgage for one year, at per cent for $500, ON
property In the Sixth ward. Allegheny City.