Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-04
TWO LARGE PLANTS
To be Located in Mansfield, Each
Backed by Abundant Capital.
SITES SECURED FOR BUILDINGS.
The Views of Experts on the Trend Of Real
Estate Values This Year.
ONE OF TIE RISING TOWNS OF THEW WEST

ONE OF THE klSlhG TOMNS OF The HEof
Mansfield, as we'll as Butler and some
others of the neighboring towns, is coming
forward as a manufacturing center. Ar
rangements are being made by Pittsburg
capitalists to establish two important plants
there in the spring or early summer. One
will be for the production of iron, steel and
tin plate, and the other for the manufacture
of Notwithstanding substance of great
value to railroads.
The capital of both concerns will be about
$500 900, and at least 200 hands will be
employed. 1t is understood that ground for
the buildings has been secured.
Real estate agents and dealers, without ex-
ception, so far as known, entertain rosy antici-
pations of a large business the present year.
Transactions last year were large and many OF
them important but the opinion is well nigh
universal among local agents that those OF this
year will be even greater in number and the
amount of moneyinvolved. AS to the probable
trend of values there is singular unanlmity OF
opinion. Most of the agents agree that the
principal advance will be in choice business
sites, owing to their comparative scarcity and
the great demand for them 1t is probable that
many important changes and improvements
will take place in the lower part
Of the city, particularly on the
river fronts, during the year. These will be in
the nature of tearing down old buildings and
putting up new ones, but some of the buildings
now used for business purposes will be recon-
structed and enlarged. The time is not far on
when the lower part of the city will be given
over entirely to business.
As to residence properties, the opinion pre-
walls among experts that there will be no
material departure from present values during
the year. Any enhancement that may occur
will be small There are several reasons in
favor OF this view Rapid transit has opened
up all the districts around the city, and where,
formerly, the buyer was restricted to the East
End or the Northside. he now has multiplied
ty of locations to select from, and if he cannot
obtain terms to suit in one he can go
to another. This competition of locations will
have strong influence in restraining anything
like radical advance in residence properties.
Buyers with money in cir hands and with a
wide field for selection are masters of the situ-
alton. Owners realize the force of this state
ment and will not be likely to make such ex-
orbitant demands as will drive clients to some
other locality almost, if not quite, as good,
where terms are more reasonable.
This years expansion of building and settle
menE will be more widely distributed than
heretofore. While the East End will probably
maintain its supremacy it will have strong and
active competitors in the Northside the South
side and down the valley, all of which either
have or are assured of rapid transit at an early
day, This removes the old objection to them
for residence purposes by making them as easy
of access as any other OF the localities around
the city, and with lower prices they will act as
a foil to any movement which may be started
elsewhere to organize boom.
The opening of 1889 found the coke trade
very dull. This condition prevailed, with
scarcely break, until September, when all the
available ovens were fred and before the close
of the month coke reached $L5O, with the con-
dition of the trade the best ever known. About
this time the car shortage began to seriously
affect the trade, and for want of shipping IA
cilities coke was piled up il the yards. The
demand was such that some of the Western
furnaces had to close down in November for
want of coke, and the price advanced to Sl.75.
During this month work was begun on 200 new
ovens in the ConnellsVille region. The first
week in December the output broke the record
as it reached 1859 tons. the largest ever
known in the history of the trade.
The heavy shipments which had been made |
for many weeks previous, began to show before
the close of the year, and furnaces were easing
up on orders At the close of the month the
condition of trade was such that S1.75 the price
ruling from November, was made the price for
the first month Of the new year.
Mr.. ]. D. Thompson, of Helena, Mont, but
formerly well-known resident of Pittsburg. is
here on a visit to his old friends and acQuaint-
ances. He thinks Helena is one of the rising
cities of the great and boundless West. 1t is
growing at rapid rate. Many fine buildings
for business and residence purposes are going
up. Some of the former compare favorably
with the best in the Eastern cities. He denies
that there is a real estate boom in Helena, and
says all reports to the contrary are false. and
do the city great injustice. Property Is en-
hancng in value. as a matter of course, but it
is not held at exorbitant figures. As in Pitts
burg. the rise has been gradually backed up by
q substantial demand, and has all the elements
of permanency. The majority of the transac-
tions are for cash, or its equivalent Mr.
Thompson predicts a great future for Helena.
A number of Pittsburgers are located there.
At the beginning of 1889 the Monongahela
coal trade was in decidedly depressed condi-
tion. As the lower markets were glutted min
ing was generally suspended. In February, the
men after an Intellectual attempt to secure an
advance in wages, resumed work at the former
rates. During this month 100000 bushels
were sent out and in the month following the
shipments aggregated over 100000 bushels.
Early in May the operators decided to close
down the mines, and await reduction in the
cost of getting out coal The fourth pool at
the close of the month resumed operations at a
reduction from ~ to &c per bushel but the
other pools remained out until the latter part
of August.
In September the price advanced at Cincin-
natl and Louisville, and October brought the
highest prices of the year, when prices at Gin
cinnati and Louisville ranged from SIC to &c.
The month following prices dropped, and at
per barrel In December the mines went out
on a strike to advance the wage basis to 8 cents
per bushel, which was accomplished within
few weeks.
The rage for iron buildings in England is on
the increase, and is extending to this country.
Among the arguments used in their favor are
freedom from dampness cheapness and ease Of
removal Says an English paper: These
houses are put together like child's puzzle
and can be taken apart compactly packed, and
removed elsewhere. A large number of iron
villas have been sent from the works at Albert
gate to the Riviera, and there erected upon
plots of land purchased or rented for a term of
years. When the lease expires the houses can
be packed up and removed. There is beginning
to be a demand for iron bungalows as marine
residences in England. The rapidity with
which they can be built aud their small cost, as
compared with the ordinary dwelling Of brick
and stone, are recommendations which tell in
in their favor"