Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-13
HINTS ON BUSINESS.
The Local Situation and Outlook for
the Spring Season.
POPULARITY OF STONE HOUSES,
A Bank Badly Needed in Pittsburg to As
sist People in Building.
SHODDT DWELLINGS ARE SCARCE

As general proposition, it is safe to say
that business throughout the country is i'm
proving. There is no doubt of it so far as
Pittsburg is concerned. The bank ex-
changes show it. the large number of i'm
provements in progress show it, the crowded
streets and stores and the whir of machinery
show it. The spring trade is opening up That
it will be large no one doubts.
Locally, while there were no business sur
prises last week. saving a break in petroleum
that almost started a panic. the movement all
along the line was large and healthy, indicating
sound basis and buoyant feeling. AS the
roads improve the volume of transactions will
increase. Among the features were an active
demand for real estate, dull and weak stock
market, with some improvement in prices at
the Close and a f1urryin oil on Friday, due to
the remarkable exploit of the Dan Depp well
No. 2, near Coraopolis. Yesterday, however,
the word was that the well was failing, and the
market reacted and recovered most of the
loss.
Bankers reported a good store Of money,
with steady demand at GOT per cent. AL
though there is considerable idle capital just
now, these rates will probably be maintained,
as the loan market is expected to firm up as
the spring trade gets fairly under way.
Stone houses are becoming popular in Pitts.
burg In this respect the city is rapidly follow
ing the lead of New York. Boston, Chicago and
st. Louis. Where one stone residence could
be seen five years ago, they can now be counted
by the score. Already there are localities in
the city where brick is the exception in first
class new buildings. While the cost of
stone is not much in excess of ornate
brick work, the general architectural ef-
feet of a stone house is far richer
and more attractive than one of brick or wood;
and as to theft popularity, the best evidence of
it is seen in the fact that as soon stone
building makes its appearance in a neighbor-
hood a number Of others quickly follow. As
proof Of this may be cited the magnificent
stone residence on Winebiddle avenue. Boule-
ward Place, Fifth avenue and the Oakland
district North Highland avenue will have this
year at least a dozen fine stone residences.
Among those building or proposing to build on
this thoroughfare are Fred Magee. Esq.
Oswald Werner, James Booth, of Booth &
Finn; Laird, the shoe man, and Architect
Evans who will erect three or four on one
square near this park.
1t is highly probable that within the next two
years many beautiful vacant lots on North
Highland will be covered with stone houses, as
the natural beauty and elaborate improvements
to be made upon the park will naturally attract
people with capital sufficient to put up this
class of dwellings. With the completion of the
Duquesne Traction road, the great objection
to this locality on the ground of inaccessibility
will have been removed.
A bank is badly needed in Pittsburg which
will advance money to lot owners to enable
them to build houses. In discussing this sub
ject yesterday, a member of the firm of w. A.
Heron & Sons said: "a man who owns a lot
worth say $1,000. could easily pay for a house
worth 81 900 or 81 500 in four, five or six years,
but as things are he can't get the money to
build. He can get all the money he wants
after he has built. but not before. This is not
what is wanted. The man needs the money to
enable him to build. 1t is, 1 think, perfectly
feasible to do this. the security being suffi-
cient guarantee to the lender against loss. 1t
would encourage building, and give employ
ment to a great deal of idle money.
Il think any financial institution that will
adopt this plan will at once enter upon a large
and profitable business"
Great Improvements have been made in build
ing within the last few years. The improve
ment extends to quality as well as style.
Houses, as rule, are more comfortable and
substantial. This fact is so patent to every OBJ
server that the current report that East End
houses are erected on the shoddy principle has
nothing to rest upon, in proof of which promi-
nent real estate broker related the following in
cideut: "The owner of large amount of real
estate called on me few days ago, and said he
wanted me to rent 13 new houses, all in the East
End, tor hir, which he would have ready by
May1 When 1 went to examine the houses
instead of finding them poorly built, found
them just the contrary. They were of brick,
with stone fronts and steps. verandas, brass
rails, nickle- plated, hard wood finish through
out plate glass windows, skillful plumbing,
stone walks, everything frst-class and compar-
ing favorably with the best houses in Eastern
cities.
II examined many other houses in the same
and found them all well built.
A poorly constructed house may be found here
and there. but the large majority came up to
the highest requirement of solidity and archi-
appearance. The owner referred to
said his experience had taught him that it was
cheaper to build good house than poor one.
The former would last for years with very
slight repairs while the latter required con-
slant tinkering to keep it habItable."