Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-06
SUPPLYING A WANT.
Estimate of the Outcome of the Years
Building Operations.
AN INVESTMENT THAT COUNTS.
When Speculation LulIs Other and More
Important Interests Prosper.
TIE NEWS AND GOSSIP OF The CITY

TnH NEW AMI uVoolf We I1E GlI i
Building this year, notwithstanding seri-
Gus drawbacks early in the season, such as
wet weather. muddy roads and labor troubles,
is on a larger scale than in any former
period in the history of the city. The char
acter of the houses, too, show great advances
in architecture and provisions for comfort
and convenience.
A prominent builder spoken to Yesterday
gave it as his opinion that the season will
show list not much short of 1000 new houses
in the city proper against about 4, 900 lastyear
while the country districts of which no record
is kept, will come up with at least 1000. This
estimate of course, will vary little, but it is
as apt to be too low as too high. These 7,OOO
houses will afford accommodations for S5.OoO
people. Where will they be foundf Certainly
not altogether in the city. A great many OF
them will be new accessions, drawn hither by
the certainty OF steady employment at good
wages, or the many opportunities for starting
in business. These 1000 houses mean alarge
addition to the population of the city and
suburbs.
To capitalists and builders there is food here
for reflection. SO long as houses are scarce
cannot be otherwise than profitable. gentle
man in one of the outer wards completed 16
tenements q short time ago, and rented every
one of them on a per cent basis within
week. There is no danger of exceeding the
demand. Pittsburg will not De overbuilt by
this generation.
. What Slow Speculafion Means.
1t is a common mistake to think that stagna-
tion in the speculative markets reflects
similar condition in the regular lines OF trade.
The reverse of this is true. Take Pittsburg as
an illustration. There is very little doing in
stocks and oil here, and yet the movement in
the legitimate activities has never been so
great at this season of the year. There is
nothing the matter with local securities; they
are on sound basis and represent permanent
values, but there are SO many opportunities to
turn money to quicker and better advantage
that stocks are neglected for other interests
Speculation fourishes best when other busi-
ness is slack That the conditions are reversed
this year IS cause for congratulation rather
than foreboding. For instance, a man with
dwelling house or good lot in his possession is
in better condition and feels safer than if he
had put the same amount of money in stocks,
land the city is a gamer. by so much as the
former outweighs the latter as an element Of
progress and real prosperity affecting all classes
of people.
Business News and Gossip.
The change in the weather yesterday was 80
agreeable that business men did little else than
stand or sit around and enjoy it Rain has
seldom been more timely.
Ed Long put in most of the day working mp a
$4,000 bond deal he reported it in good shape
and likely to 90 through.
Garden farming promises to be considerably
augmented next year, as a result of high
prices for vegetables this season. Several
small tracts of land have already been leased |
for that purpose.
One of the Pittsburg syndicate interested in |
Chicago realty has received letter saying they |
could now sell property at $1,000 an acre that |
cost $500 about year ago. They expect to do |
better by waiting.
From the way Pittsburgers are taking to |
fats, they being engaged before completion, |
and all of them occupied as soon as they |
are out of the builders hands, it is likely that
quite a number, including several large ones,
will be built next year. A small but wealthy |
syndicate is looking for sites. |
Mr.. W. A Lincoln, of Baxter, Thompson & |
Co. returned yesterday from a business trip to |
Buffalo. While there he met Mr.. D. P Black, |
who was evidently up to something as he, IN
company with several prominent capitalists,
was in the act of hiring rig in which to take |
a survey of an important interest. Mr.. G. A.
Beeckmau and wife left last night for Atlantic |
City. Mr.. A W. Mellon the banker, is taking |
in the sights and enjoyments of the New Eng
land coast
An incident to the credit of Northside |
Chinaman was related by member of the firm
of Black & Baird yesterday. One of their COL |
lectors reached the Office and found he was SIS |
short. 1t was not in his inside pocket. He
could not account for the missing treasure, and |
gave it up as lost. Later in the day China |
man, Quong Wah by name, who runs a washee |
place on Anderson street, and is one of the |
firms tenants. made his appearance at the |
Office and handed over the missing money. 1t |
had fallen on the floor of the laundry and been |
found by the proprietor, who lost no time in |
restoring it to its owner. Honesty is not |
limited to the white race.
Plans are being prepared for the proposed |
schoolhouse at Edgewood. 1t will be built SO |
as to be readily enlarged as occasion demands |
The mortgage list yesterday contained % |
names The largest amount was Sc. 500. Ten
were for purchase money.
MR. ]. Stoney, Jr.'s figures show that the |
individual deposits held by Pittsburg national |
banks in 1880 we're sl5s2S.63I, and in 1890 |
S33 a56 S97, an increase Of Sc per cent
Rain fell yesterday in several of the Western |
States, to the great benefit Of the crops.
Movements In Real Estate.
There were no special features in this inter-
est yesterday. The rain prevented few deals |
from being closed. Others were still hung up /
by the absence Of seller or buyer, and In some
cases of both.
w. A. Heron Sons closed the sale of q lot |
on Forbes street, East End, 75x200 feet deep, for
$1,000 The purchaser will erect q fine dwell
ing on it at once.
J. E. Glass sold for John II. Zimmerman ct |
al, piece of ground fronting LIS feet on Mckee
place. Oakland, for $3.50.
Baxter. Thompson q Co. sold for Mellon |
Bros. lots Nos. III and 172 inithe Routh Place |
plan, at wilmerding. fronting 81 feet on Third |
avenue by 100 feet to an alley. for $500.
Black & Baird sold for ]. s. McCord to John
Johnston, a lot on Wilmont street, Oakland,
near Sylvan avenue, % 1-l0x1o0 feet, for $3.50
uOME INTERESTS