Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-14
A HINT TO BUILDERS.
An Urgent Demand for Warehouses
With Strong Walls and Floors.
CONFIDENCE In REAL ESTATE.
A Sharp Reaction in Local Stocks, With
Unusually Heavy Trading.


Unusually Heavy Trading.
THE NEWS AND GOSSIP OF THE CITY
An East End real estate dealer yesterday
closed transaction by which he became
possessed of about IL acres in the Nine
teenth ward, fronting on Heberton street.
1t was owned by the Wightman heirs, and
the considera ton was $4,000 The property
will be plotted and put on the market about
the beginning of the year.
Edebnrn Cooper are surveying 20 acres
few miles down the FIT. Wayne Railroad, which
will be subdivided as soon as possible.
Warehouses Needed.
Here is something for capitalists to ponder.
1t is from a prominent business man: The
great need of Pittsburg to-day is a class of
buildings on good business streets, four to six
stories high. with good strong walls and floors,
which can be used as warehouses or can be
fitted up for light manufacturing or almost
anything tenants require. They should be
strong and modern and yet cheap so that
owners can get fair returns without burdenlng
tenants with excessive rents.
Here is a case in point: Two buildings on
Wood street, between Fifth avenue and Dia-
mond street, rented for years at almost 5000
each. They were overhanled and fitted up IN
the way have pointed out, and are now under
lease at s35OO, and II they were empty they
could be rented al a still higher figure. Such
houses are in actual demand and are good
investment"
Building for Safety.
Speaking of large warehouse that tumbled
down in Chicago few days ago, gentleman
who owns large number of houses in various
parts OF this city remarked yesterday: Every
important building should be under the con-
slant supervision of competent person en-
ployed for that purpose by the city or the
owner. He should not only be conversant with
the work of construction, but also be fully
posted in the necessary strength required to
properly support ;he superstructure. All the
large buildings erected in PIttsburg in tile last
few years. and those in course of construction,
seem to have been carefully planned. and in
my Judgment, are perfectly safe. So much
heavy business is done in Pittsburg that
strength is of more importance than appear
ance although it is nor necessary to sacrifice
the latter to obtain The former result"
Buying for Improvement.
The present condition of real estate presents
a gratifying contrast to the booming times back
in the seventies, when lots went off like hot
cakes, in many cases without examination.
They were bought on speculation, and it made
little difference to the purchasers what they
were or where thay were Now they are wanted
for Improvement, and are carefully shaken be-
fore taken" This conservatism on the part of
buyers constitutes the basis of the confidence
SO generally felt and expressed in the continued
activity as also of the stability of values of
Pittsburg realty.
Business News and Gossip.
A Fourth avenue bank officer lost l3 hats on
the election. He voted for Delamater.
The Carnegie, Phipps & Co. mortgage to the
city OF Pittsburg for $50 9O5 file for rec
ord yesterday. This is the final step in the Poor
Farm deal.
When stocks were down everybody wanted to
sell. Now they are up everybody wants to buy.
Brokers' like other people. are wise after the
fact
The following poetical commentary on the
panic" was handed in yesterday by a Fourth
avenue bank clerk:
''They tried to make panic, oh,
But they couldn't;
The country said it wouldn't have it SO,
And they shouldn't"
Outdoor business moved along as usual yes
terday as a result of the improvement in the
weather.
Williamsburg people hope to have rapid
down on Penn avenue.
tits known that there will be several bidders
for the Exchange building tomorrow, but they
have not diyulged what they propose to offer.
They will have to pay $50, 600 or more to get it,
Pittsburg stocks made grand rally yester-
day. Values will assert themselves, but water
will evaporate.
Coal stocks continue the upward movement
started when natural gas was withdrawn from
the iron mills. Coal is reliable.
Something important in down town properties
will probably develop within few days.
The wooden bridge at Woods Run. for the
California avenue electric road, is about half
finished and work on the uncompleted portion
is being pushed as fast as possible.
The Building Record.
Rabenstein Bros. took out three of six per-
mits issued yesterday The list follows:
Rabenstein Bros. iron-clad two-story factory
4sx6O feet. on Liberty avenue, Twelfth ward
Cost, SIS. 900.
Rabensteiu Bros iron-clad one-story ware
house, 1Sx2O feet, on rear Liberty avenue,
Twelfth ward. Cost, 800.
Rabenstein Bros, iron-clad two-story stable,
14xlS feet, on rear OF Liberty avenue, Twelfth
Charles Robinson, brick two-story dwelling
l7xlS feet. on Penn avenue, Seventeenth ward
Cost, 81 500.
W. j. Zahniser. brick two-story and mansard
dwelling. lSx33 feet on Home street, Seven
teenth ward. Cost, $500,
Movements in Real Estate.
H. B. Smithson, auctioneer, sold Nos. 81 and
so Thirteenth street, Southside, two brick
dwellings belonging to the estate of DR.. Toudy,
for $500.
]. B. Larkin & Co. sold for George Burkley
to William Brown two houses and lots on Sec
ond avenue, near Brewery street. for 5000.
The same houses sold eight years ago for IS 5OO
W. E. Hammett & Co. sold a lot on Savannah
avenue, Williamsburg 52xl20, for Thomas H.
Sheppard ct al to Samuel ]. Garrett. for 5000.
Black & Baird sold to James Wright for ]. F.
Pollard. a small frame dwelling on Wicklow
street. Nineteenth ward. with lot 20x100 feet,
for 81. 100 on the easy payment plan.
E. d. Wingenroth sold lot No. 95 and % feet
of lot No. "a IN his plan of Nadine Park. being
the corner of Eoia street, Poketo avenue and
Delaware alley, to Oscar Angenstein. for 5000.
George Schmidt sold to Miss ]. keane a lot
on Lookou avenue. 20xll0 to an alley, being
lot No. Isl in Eureka Place plan for $780,
NJ. F. Nipple d Co. sold for A. W. Pogue, a
lot 25xl0O feet on the south side of Brereton
avenue, Denny estate plan, Thirteeth ward, for
s47U.
W. A. Heron 4 Sons sold house No. 80 Col
for 81, 100: lot 23x46 feet, with large brick
dwelling now renting for S420 per year. This
property is one square from Fifth avenue and
about ten minutes walk from the postoffice.
Mr.. w. 4. Grifiths, well-knOwn oil opera
tor. has purchased from Mellon Brothers fine
pressed brick residence of II rooms, with lot
fronting 100 feet on RipDey street. near Negley