Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-27
WILL BE A SUCCESS.
Favorable Outlook for Homestead
Railroad and River Bridge.
THE ROUTE AND PROBABLE COST.
A Famine in Building Lots in Two Of the
Central Wards of the City.
LUCKY OWNERS OF MANY FINE ACRES

Central Wards Of the City.
LUCKY OWNERS OF MANY FINE ACRES
Mr.. Ira M. Burchfeld made some state
ments Yesterday which are of genuine in
terest from their bearing upon the develop
ment of an extensive district in the eastern
part of the city, and especially the Twenty
second and Twenty-third wards. He said:
''The proposed fhort line electric route to
Homestead will undoubtedly be built. Its
promoters are confident that it will be good
investment. Besides 1t is needed to open up a
territory that has remained in comparative
obscurity for years for want OF transportation
facilities.
The route of the road, as at present mapped
out, begins at Boquet street. where connection
will be made with the Pittsburg Traction.
thence through the property of w. ii. Brown
& Sons TO the Monongahela river. where
bridge will be built at a cost of Sl5.OOO and SO
on to Homestead. shortening the distance
nearly four miles as compared with any other
route. The right of way is now assured, and
there will be no lack of money to carry the
project to completion"
some oil the NOtuDte "HrOe.
The supply of small lots in the Seventh and
Eighth wards is practically exhausted. The
demand for them during the past two or three
years has been such that about all the acreage
has been subdivided and disposed of. This was
mainly owing to the excellent location and
proximity to the business portion of the city.
Buyers in nearly every case have been people
Of moderate means. and most of them have
built on their purchases. There has been less
speculation in these wards than in any others.
They are full of homes. with business enough
to supply nearly every want The Eleventh
ward promises to be equally destitute of
marketable vacant property within two or three
years. 1t is filling up very fast, and there is
only limited amount of acreage to keep up
the supply. The character of the improve
ments compares favorably with that of any
other part Of the city, many Of the houses
being high class. Charles Lockhart, the East
End millionaire, owns so dwellings in this
ward.
The wards in which there is the most unim-
proved land are the Twenty-second and the
Twenty-third. The largest tracts are those of
Mrs. Schenley, the Blair and the Brown heirs
and the William Thaw estate. Mrs. Schenley
also owns 40 or 80 acres the Fourteenth
ward. Trading in all the last mentioned wards
has been lively for some time-partly for specu-
latiou but largely for settlement, and a great
deal has been done in the way of improvement.
The introduction of rapid transit into this dis,
trict will not only prevent halt in development
but give it fresh impulse.
Business News and Gossip.
Mr.. M. Hemmings. owing to i'll health, has
been obliged to resign his position as cashier of
the Central Bank, and Mr.. c. c. Davis, the
former assistant cashier. will fill the vacancy.
lie sr hao haat nod
recently by owners making slight concessions
This is better than holding out and doing
nothing. Quite a number of cases c ould be
pointed out in which values would bear a hand
some shave.
E. P. Long-A number of persons have told
me lately that II the natural gas companies
make another advance IN prices they will 60
back to coal Should this determination be
general, the revenues of these corporations
must suffer. This is one of the influences that
is depressing this class of stocks.
Seventeen of IS mortgages on file for record
yesterday were for purchase money. The
largest was for slL000 and the smallest for
Sl25
A piece of business property on Smithfeld
street, below Fourth, is about to be sold for
SIS, 600. The prospective buyer was negotiating
a $50 900 mortgage yesterday, to enable him to
make needed improvements.
Mr. 7. II. Adams, well-known oil operator
and member Of the Exchange, is back from a
trip to several oil wells. near Toledo, in which
he has an interest. Messrs. Holman and Pink
erton, also members of the Exchange will
leave the city to-day on their summer vacation.
Norman Robinson is home from q trip to Min
nesota. where he bagged many fish.
The old board of directors of the Pine Run
Gas Company has been reelected. Gas was
reported in sufficient supply for the demand.
Railroad earnings: Pennsylvania Railroad
May, decrease, sl2t7l1. Norfolk and Western,
increase third week of June SIS, ,9l6; from JAM
nary increase $780, 700. Reading, net earnings
for six months ended May 81, were s., ,64l, ,966
an increase of s4O4, $50 over 1889. Milwaukee
and Northern, third week in June. increase
Ss,6I5 Iowa Central, third week in June, in
crease 3,0l5
On Tuesday. July l, directors of the iron and
Glass Dollar Savings Bank will be chosen, and
on the 7th the annual meeting of stockholders
of the Birmingham and Pittsburg Bridge Com
pany will occur.
Movements in Real Estate.
Edward F. Hays and Thomas A. Noble have
purchased from William C. Noble IS acres of
land one mile from the city limits, adjoining
the tract recently purchased by the Birming-
ham Land Improvement Company along the
line of the rapid transit suburban electric street
railway. 1t is understood that the price is
about the same as that paid by the Birmingham
Land improvement Company. The land will
be laid out in plan of building lots.
Charles Somers & Co. sold three lots in Ben
ton ;place, Eleventh ward, Allegheny, each
fronting "a feet on Benton avenue and in depth
ITO feet to an alley, being Nos s, 8 and z, for
Sl,2co.
w. A. Heron & Sons sold lots Nos. l27, l2S
and l2s in the Bissell plan, Eighteenth ward,
for $3.50 each.
Black & Baird sold to Henry c. Burns, for G.
C. Schupp. vacant lot on the southwest corner
of Montezuma street and Rowan avenue, size
21xIl71l feet to an alley for $3.50.
Reed B. Coyle & Co. sold to Miss Annie Ryan
lot No. lSs, in Marion Place plan. situated on
Home Rule street. being 25x164 feet. for $500.
e. T. Schaffner sold for Edward Schultz lot
No. l7O in John Browns plan. Twenty-seventh
ward, for $500 cash.
Samuel w. Black & Go. sold for the Blair es-
tate lot No. SIS, situate the west 81 de of Sec
ond avenue, Glenwood, Twenty-third ward.
having frontage of "a feet by 120 feet deep to
2Ofoot alley, for price approximating 81. 900.
HALF A YEARS FAILURES