Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-20
ANOTHER BIG DEAL.
Forty Broad Acres in the East End
Gobbled by a Syndicate.
BIG MONEY In TIE TRANSACTION.
Buckeye Oil Loses Some of the Pyrotechnic
Features Of the Opening.
THE NEWS AND GOSSIP OF TIE CITY

A real estate transaction of considerable
magnitude came to the surface yesterday,
notwithstanding strenuous efforts to keep it
from the public. For year or more the A.
T. Rowand tract, comprising about 40 acres.
situated between Edgewood and SwissYale,
and better known as Swissvale Park, had
been on the market in quiet way at S125, :
600. 1t Is bounded by Ravine street, the
Pennsylvania Rsilroad. Swissvale avenue
and the property of the Union Switch and
Signal Company, and originally formed
part of the Swisshelm estate, but does not
| include the old homestead where Mrs. Swiss
helm passed some of the happiest years Of her
busy life.
| While all who examined the land admitted
its value and adaptabil1ty to residence pur-
purposes, the price at which it was held was
considered too high, and every attempt to sell it
| proved abortive. Finally the owner was in
| duced to lop off S2500O This placed the prop
erty on the active list, and two syndicates at
once made overtures for It's purchase, one OF
| which, largely composed of members OF an
East End corporation, secured the plum yester-
| day. paying 100000 therefor. The sale was
made by the owner.
The property was subdivided and streets laid
out several months ago but some changes in
| the shape and size of lots will be made, after
| which it will be put on the market. The price
| is considered well up for that locality, but as
| the land lies well, and is almost central between
Braddock and the city, making it available to
residents of either place. the purchasers will no
doubt make handsome profit out Of it
Business News and Gossip.
The Hubby property, in Williamsburg. has
been sub-divided and put on the market. 1t is
being handled by the Fidelity Title and Trust
Company.
The big deal at Swissvale will have the effect
OF stirring things up in that locality. There
are several good openings there for investors.
Brokers yesterday were talking confidently
of higher prices for Westinghouse Electric to-
day. The value of the rights depends upon an
upturn, but labor trouble is in the way. This
may be ignored. however.
The net earnings of the West Virginia Cen
trail and Pittsburg Railroad for July were
S565l, and for the first seven months of 1890,
AIS
Crop reports from the West continue to inn
prove. The recent rains have been vastly bene-
ficiaL
According to the figures of Fourth avenue
broker, the value of real estate in the Sewickley
last decade. Improvements are numerous and
important.
Il. s., A. Stewart will soon begin the erection
of block of IA houses on Negley avenue.
The national banks of New York State, ex-
cluisve Of New York City, Albany and
Brooklyn, report the per centages of reserve
held July Is to have been A.42.
The movement for hotel in Williamsburg
seems to have been abandoned. It is good
place for one.
Locust street. Edgewood, Is being surveyed
with view to grading.
London advices yesterday were: The interest
in this market is still centered On the silver
speculation. Never has there been such o
demand for silver as was exhibited yesterday.
All the market centers were buyers, Paris and
New York being the largest.
tlSeveral deeds on lower Penn avenue will be
consummated within ten days. One of them in
vo1ves S50, 600.
The largest of "a mortgages on file for record
this amount. Seven were for purchase money.
Movements in Real Estate.
The cool weather of the past few days has
had stimulating effect on business. nearly
all branches are more active. Real estate is
picking up, and progress is reported in a num-
Der of deeds that have been In state Of sus-
pended state Of animation for o month or two.
The most of them will be consummated as soon
as the principals can be brought together.
In most cases differences are SO slight as
to be easily brIdged over by mutual conces-
sions. There has not at any time been an IT,
surmountable hitch Brokers have 80 man.
aged as to keep sellers and buyers on speaking
terms. even though they refused to get down
to business while the temperature was too high
to be touched with ten-foot pole, If such