Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-22
FACTS TAKING ROOT.
Moneyed Men Beginning to See
There is Profit in Building.
IEAvEN OF PROGRESS WORKING.
Two More Important Deals in Down
Town Property Brought to Head.
THE NEWS AND GOSSIP OF THE CITY.

Cities have sprung up in a day only to
disappear the next This is mushroom
growth. 1t has taken Pittsburg more than
100 years to reach her present exalted po-
stion as a manufacturing and commercial
center This is substantial and durable
growth.
Pittsburg is business necessity-not a
creature of speculation. Her growth has
been responsive to the demands of business
| and population. She has always waited for
wants before attempting to supply them.
The anticipating wants which may never
arise is risky business, and has brought
ruin upon many communities. In preparing
rabbit for the table the first thing to do is to
catch 1t. In building city the promoters
should make sure of getting people to fill it.
Pittsburg has never been city of empty
houses She has never had enough to supply
the demand. There are fewer Ito lets" here
than in any other city in the country. Prac-
tically, there are none. Thus handicapped her
growth is restricted and her business embar-
COED. No better proof of this can be found
than the fact that large numbers Of people are
prevented from locating here account of the
impossibilty of obtaining houses. There are
not enough for those already here, and new
comers stand no chance at all. Here is vital,
pressing want. which is patent to every OBJ
server. 1t is SO plain that he who runs may
read.
What can be done about itf Well, there's
the rub. To ordinary comprehension the only
way out of the difficulty is to build more
houses. 1t is not the cpstom in this country for
people to live out of doors. They must be
housed, as well as fed and clothed. But it takes
money to build houses. This brings the CAPT.
talst into the discussion. He has the money
and could cover the outskirts with houses if he
wanted to. Why don't he do it? Is he afraid
the investment would be Improbable? 1t has.
been demonstrated again and again that the
average run of dwellings yield to 8 per cent
and business houses more. In what other field
of activity could he do as we'll and at the same
time he SO helpful to deserving element of
the community?
and attitude of Pittsburg's rich men upon this
vital MISUNDERSTANDING. They are begin
ming to see its Importance and to realize the
certainty Of handsome profits which 1t dis
closes. Andrew Carnegie has more than once
expressed his intention to build a large
scale. Others could be named who are simi-
larly disposed. Several syndicates have been
formed with the same end in view. These eX-
amples will no doubt influence other rich men
and corporations to look more tavorably upon
the building industry, the extension of which
of the city and to the maintenance of its su-
premacy manufacturing center. No one
should hesitate to build for fear the business
will be overdone. A thousand houses month
for the next decade would not more than I'LL
the requirement.
Business News and Gossip.
The sale by one real estate firm of between
20 and so lots in little more than week shows
the demand for building sites has not abated. i
A: largely attended meeting of citizens of
the Tenth ward, Allegheny, it was unani-
mously agreed to recommend to the School
Board the erection of two schoolhouses-one in
the north end of the ward, near the Forks of
the Road, and one in the Butcher run district
1t is generally thought the wishes of the people
will be complied with, and that both buildings
will be put up early next year.
Among the improvements going up in Nc
Keesport are several substantial business
houses and number of handsome dwellings
Suburban property is almost as high as it is
around Pittsburg.
The piano and organ factory a. Meudelssohu
is receiving the finishing touches. and will be
in operation in few days. 1t will afford EN-
ployment for 5OU people. many Of whom have
A wall paper dealer said yesterday: lowing
to the large number of houses put up in the
city and suburbs this year, and changes and
additions to Others we have been rushed to
supply the demand for paper. High ami me-
dium grades are mostly used. Cheap paper is
slow. Some of the finest paper in the market
is produced in this country, whereas few
years ago We were entirely dependent upon
foreign manufacturers"
The Manufacturers Natural Gas Company
has declared monthly dividend of one-half of
l per cent on the capital stock. Checks are
being mailed to stockholders.
Seventeen of S5 mortgages on file yesterday
sl227S. Twenty-Five were for less than $1,000
each.
A Kokomo, Ind, dispatch says pipes connect.
ing the Indiana natural gas fields and Chicago
are being hauled away, indicating that tho i
project of piping natural gas into Chicago has
been abandoned.
The Mercantile Trust Company of Pittsburg
has been organized with a capital of $3.50 0O0 |
with authority to increase it to S500,000 and |
opened a temporary Office in room No. 70 Bake !
well building Its object, as claimed. is to
make safe investments Cor rich and poor.
Four building permits were taken out YES |
terday by the following named persons: Cor |
bin Thornton, frame one-story dwelling, 1Sxls
cost cost s4oC. ". r. feterman, fra@e % tWo.ssory story
dwelling. l6x32 fee, on Robinson road, Thirty |
first ward; cost. 500 p. H. Hamburger. brick |
street Seventeenth ward; cost, sl.4O0. James |
II. Fricke, frame twostory dwelling, 34x34 feet, |
on Iowa street, Thirteenth ward; cost, S. OO0 |
The only local concern chartered at Harris |
burg yesterday was the Hughes & Gawthorp |
Company to manufacture and deal IN electrical |
appliances, etc.. with, capital of 25,O00 and |
as directors Paul ii. Hacke, Charles I. Hughes, |
Z. b. Gawthorp, E. F. Austin, of Pittsburg.
Movements in Real Estate.
An important transaction in downtown |
realty, which had been on the string for some
time, was brought to head yesterday. Samuel |
w. Black & Co.. sold for w. 2, Snyder to Cap
tain ]. ]. Vandegrift for s60.0O0, the property
on the northwest corner of Wood and Water
streets. The lot fronts 80 feet on Wood street
and so on Water, and is one of the most promi-
nent business corners in the downtown dis
trict. 1t belonged to the estate of James Wood
until about year ago, since which time it has
exchanged ownership repeatedly, and each
time at advance and yet the last price is con-
sIdered a bargain, as good judges say the Wood
street front is easily worth 81 COO foot
1t is Captain Vandegrift's purpose to tear
down the old warehouses on the lot immediate
ly and erect an eight-story office building. with
all the conveniences and adornments required |
by modern necessity and taste. Such build |
ing has long beed needed in that locality.
Another sale in the business part of the city |
was made yesterday by e. HI. Love, who found |
purchaser in Mrs. Margaret Bassendorf for |
the property No. 30 Second avenue. lot 20xSO |
with two-story and mansard brick building, |
belonging to the heirs of Mrs. e. A Love. The |
consideration was IS, 900 cash. |