Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-23
DRIFT OF BUSINESS.
Trade in Splendid Shape for the Sea-
son, With q Rosy Outlook.
SOME GREAT THINGS In REALTY.
GObble in the Nineteenth Ward Involving
a Round Sixty Thousand.
A COMBINE TO BUILD SMALL HOUSES

A syndicate of local capitalists has pur-
chased, through MessrS. Straub & Morris,
what is popularly known as the Morningside
tract Of land, in the Nineteenth ward. The
price paid was $50, 900. The tract contains
a fraction over 80 acres. For over half
mile it faces on Matilda street, so feet wide,
which has been laid out by the city, but not
yet opened up. There is fine stone quarry
on the premises. It will be laid out in lots,
of which there will be about 500. These
will be offered at low prices to induce rapid
purchase and settlement. Amember Of the
syndicate said yesterday that the object in
view in making the purchase was not alto
gether to make money, but to afford people
of small means an opportunity to acquire
homes. In extent of acreage. amount of money
involved and the possibility of benefiting a
large number Of working people, this is the
most important transaction in Pittsburg realty
that has taken place for several years.
The frequent reference in THE DISPATCH to
the scarcity of small dwellings is beginning to
open the eyes of capitalists, especially the
younger and more progressive element among
them, as shown by their frequent inquiries in
the last few weeks for sites suitable for the
erection of blocks of six or more Of this class
of houses, containing from five to seven rooms
and renting from SIS to SIS month. To further
this laudable object an arrangement has been
made between a number Of young capitalists.
contractors, and a prominent Fourth avenue
real estate firm. whereby options have been
secured on several parcels Of land on one Of the
street car lines, and easily accessible from the
center of the city, and negotiations for other
parcels are progressing. The parties interested
think they are on the right track at last. and
propose to carry out their scheme on large
scale. This will be public benefit. There is
plenty OF room for houses. Give Pittsburg
chance to spread out.
An important deal in real estate has just
been consummated at Williamsburg. W. g.
Stewart. a well-known member of the Pitts
burg bar, and James II. Hamnett, a Pennsyl-
vania Railroad official, have purchased from
the Church Home Association five acres sit
uated on the Pennsylvania Railroad, in the
borough of Williamsburg, q short distance
above the station. The price paid was about
81, 500 an acre. The purchasers intend to i'm
prove the property by laying hagstone pave
ments and otherwise, after which they Will lay
it out in lots and put them on the market. 1t
is one of the handsomest sites on the railroad.
While there was no special activity in any
branch of business last week, the volume Of
transactions compares fayorably with that Of
the preceding weeks Of the year, and prices
were well maintained. The prospect for a
large spring trade improves as the time for it
to open up approaches. There was a notable
improvement in stock trading, the features of
which were declines in the fractions, Central
and Pittsburg especially; slight weakening in
Philadelphia Gas and a sharp advance in
Pleasant Valley Railway. The active list closed
at small concessions Oil fluctuations were
more important than usual, but scarcity of
certificates deferred heavy trading. Dizziness
and steadiness we're the features. There was
brisk movement in real estate. a large number
of transactions being the result-some of them
of unusual importance. Money was in good
supply and ruled easy. Discount rates ranged
from to 7 per cent with the bulk Iof the loans
at the inside figure.
The hrebrick industry is likely to receive
fresh impetus from the general movement for
the improvement of streets in the cities through
out the South and West. Davenport, Iowa, has
resolved to reorganize her entire street system
with brick. and the smaller cities in the West
are following in her wake. At recent meet
ing of the City Council of Portsmouth, O.,
committee reported, giving the information
they had been able to get concerning brick
streets In the cities of Cincinnati, Kansas City,
Columbus, Akron, Sreubenville and Parkers-
burg, ali Of which was highly commendatory.
Ink manufacturers are in danger of being
knocked out. In New Granada grows a plant
which is locally known as the ''ink plant" Its
juice serves, without the slightest preparation,
ST. ~,
a few hours it assumes deep black hue. Sew
eral sheets Of manuscript. written with this
natural ink, became soaked with sea water on
their journey to New York. but when dried the
writing was found to be still perfectly clear.
A company has been formed to utilize the plant