Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-26
A Good Business Property Picked Up
on Diamond Street.
BIDS ON TWO OTHERS TOO WEAK.
Enhancement of Real Estate Due to the
Great Increase in Business.
THE NEWS AND GOSSIP OF THE CITY

The first parcel put up was the one on the
north side of the street cornering on Cherry
alley, lot 40x95. with a good three-story
building. 1t started at $40, 900 and jumped
81, 900 and $500 at a time, until the bid
reached about 5000. 1t then crawled up
slowly to S49. 900, at which figure it was knocked
down to George E. Shaw, prominent attor-
ney. This was little disappointing, as at least
81, 800 foot front h ad been calculated upon.
The next parcel, on the southside OF the
street, was started at 1000 and bid up to s9O,-
sou, this being subject to a $4,000 mortgage,
making the bid equivalent to s7O, 500 This was
below the mark. and as no one seemed disposed q
| to do better, the sale was adjourned. The tnlru
parcel had a send.of of S25 100, which increased
| to $4,000, where it stuck, and there being no
disposition on the part of bidders to 60 higher,
| further proceedings were postponed untl tne
| same hour next Saturday, when both of the un.
sold properties will again be offered.
Delay is Dangerous.
| Real estate keeps moving upward right along.
Some people say it is booming. 1t is not The
conditions prevailing are, however. very
healthy. and the inquiries are generally Tor
homes and not for investments of specula-
| tive character. Land is getting rather scarce,
and every piece that is plotted into lots is
rapidly taken up by the middle and thrifty
classes, who believe that their savings can be
put to no better advantage than by building for
themselves.
The intelligent wage-worker of to-day wants
to better his condition, and make such provi-
sion tor his family as his means will permit,
and with that IN view he sits down in the
evening and talks the matter over with
his wife, and together they reach the following
conclusions: "This a great big City, rich in
H., AhoH md
with the millions and millions at present in
vested In manufacturing enterprises of the
most substantial character, there is no such
thing as making a mistake in going along with
the forward march and investing our nickels
with the dollars Of our rich neighbors, our
savings being only per cent in bank, while we
are paying about per cent on the investment
of our landlord" They reason again that rents
are going up every year, and the appreciation
of the property they are living in goes also to
the credit of the same person, and eventually
they are crowded out to make way for some
one who is willing to pay higher rent. The
landlord wants all he can get, as rule, and
there is no alternative but to buy ground and
build or buy house built ty some other person.
The demand for houses and lots, at fair
price. is greater than the supply, and will be so
as long as this city keeps extending her indus
tries. Every extension of an established plant
brings with it the employment of new men, and
they must have houses to live in.
The building of houses is pure business
matter. There is no sentiment in 1t, and they
will be erected Just so long as it pays and no
longer. To build houses one must have ground,
and the price rises just as the demand in
creases. Ten years ago man with ordinary
means could have bought lot for $500 that IS
now worth 81 1000 to 81, 200. The man who
wanted it then concluded 1t was too high. and
he would wait, and now buys it at the advance,
and is glad to get it. 1t is the same way
1vx1n h I1irfr n1S Vhnxy
wait until the eleventh hour of the day, and are
then compelled to take what they can get.
Every man should have home, and from the
character of the transfers every man is trying
to get one.
The best evidence of the value of land in this
city, and the extraordinary increase of bust
ness is in the number OF six. eight and nine
story blocks that are taking the place of two
and three-story houses. The city is being re-
built to accommodate the heavy business in
terests, and those who occupy the dwellings
must take to the suburbs. If anyone doubts
that they are getting there as fast as they can
let him watch the cable car and see the struggle
to even get good hold of an outside rail, while
seats or standing room is at premium.
Scramble for a House.
]. Ledlie Gloninger. of the firm of Black &
Baird, in speaking of the famine in small
houses yesterday remarked: I'VE put a small
advertisement in THE DISPATCH on Thursday
of small house to let, and before noon of the
next day We had between 40 and so applicants
for it, nearly all of whom were prepared to pay
in advance"
This is additional proof, and of a practical
kind, too that the supply of small houses is
totally inadequate to the demand. 1t would be
impossible to make stronger appeal to capt.
talists to take immediate steps to meet the
emergency thus brought to light, than is con-
tanned in Mr.. Gloninger's brief statement.
Fifty persons scrambling for one little house.
Think of 1t, ye men who have the remedy in
your own hands.
New Buildings.
During the past week SO permits were issued,
representing 20 buildings-30 brick, 3S frame
and ironclad, the total cost of all being SlOS,-
4S7. The Fourteenth ward led with 10 build
ings, followed by the Sixth with 7.
The number of permits taken out the previ-
ious week was "a, representing A buildings,
the estimated cost being s76S3I. The total
number of permits issued this year to date is
l,4s6, representing 2,566 buildings. Yesterdays
John A. Brown frame addition two-story
dwelling, l6x20 feet on Watts lane, Thirteenth
ward; cost, sS5Q
William Geisler, frame two-story dwelling
ward; cost, 81, 400
Peter E. Klows. frame two-story dwelling,
2OxS2 feet o. on es ssunnyside street, Twenty-third
William Eberley, five brick two-story dwell.
ings, l3144x32 feet ton Cowards alley, Sixth ward
cost, $1,000 for all.
ing. 2Ox30 feet: on Gust street. Twenty-third
ward; cost, 81, $50.
-Boilhart frame two-story dwelling, 25x27 |
feet on Glenwood avenue Twenty-third ward;
George A. Kirsch. frame one-story pho
tograph gallery. l6x3O feet. on Penn avenue,
Twelfth ward; cost $780,
c. s. Shirley, brick one-story shop. 22x35 |
500 500 - ' W ' N'NA "'' '0'"
William ]. Asken. frame addition two-story |
dwelling. l2X9a feet, on rear Howe street, |
ward; cost, s2,S00.
Thomas c. Cook & Bro, frame one-story shop.
l5x20 feet. on Sycamore street. Thirty-second |
b. Wolff, frame one-story chapel. 3Ox37 feet.
& 792
Mrs. Moth, brick addition two-story and attic
dwelling. l7x2O feet, on Vlckroy street, Sixth
ward; cost, $3.50.
Theo Remornat, frame two-story dwelling.
I6xl6 feet, on Sylvan avenue, Fourteenth ward;
cost, S40O
CYRUS Schade, frame two-story dwelling.
I7x32 feet, on Keystone street, Eighteenth
ward; cost, $1,000.
Business News and Gossip.
Several deals in property on lower Penn ave.
lue are hung MP awaiting a decision in regard
% the disposition to be made of the Schenley
holding. If it shall be in favor of improve
nent there will be lively times in. that part of
he city.
Cutting loose from the manufacturers should
Increase the earnings of the Philadelphia
Natural Gas Company and improve the stand
ng of the stock.
That part of Perrysvihe road within the
corporate limits of Allegheny City is to be
Videned 10 go feet. instead of so. This is in &C.
ordance with the wishes of the people.
The two school buildings to be erected in the