Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-27
AN EARNEST EFFORT
Being Made to Supply the Demand
for Medium-Siz d Dwellings,
THE PROSPECT FOR NEXT YEAR.
Stocks and Oil Brace Up Trifle, but Buy
ers Few and Far Between.
TIE NEWS AND GOSSIP OF THE CITY

In speaking of the great demand for
houses and the scant supply, W. A. Heron
& Sons say: "There will Be large number
of dwellings put in the market for rent be-
tween now and April. We have just taken
charge of II on the Soutt1sfde, and the owner
proposes to build Is or 20 more. We have
also taken charge OF a number in Oakland,
Shadyside and the East End. They will be
ready for occupancy by April l." Baxter,
Thompson g. Co., Black & Baird, j. B.
Larkin & Co. and other agents reported that
they would soon make considerable addi-
tions to their lists of tenement property. 1t
begins to look as if an earnest endeavor was
being made to house the people, and good
results are promised for next year.
\
Effects of Competition.
Competition is said to be the life Of trade.
1t is also the source of low prices, and for
this reason is a benefit to the people. 1t
compels manufacturers to avail themselves
of everything in the way of labor-saving
machinery to enable them to produce
cheaply. 0Some maintain that this operates
against labor, but facts land to a different con-
clusion Here in Pittsburg, where everything
that ingenuity can invent to lessen
the cost of production is employed, there is
expedite manufacturing opens up new field
for brains and muscle. One of the standing
objections of the farmers to railroads was that
they would destroy the value of horses. Time
has shown that the fear was groundless.
Value of Conservatism.
Business is prosperous. manufacturing is ex-
panding, capital is being rapidly invested in all
avenues. the volume of railway traffic is grow
ing. and opportunities for money-makIug are
multiplying on all sides. The country is burst
ing with wealth and energy, and progress is
visible in all directions. That there is no gen.
eral weakness is shown by the recent fiat fail
ure TO produce a panic. A few firms and in
dividuals who had ventured into the danger
Gus field of speculation went to the wall, but
legitimate business moved along serenely AMI
unconcerned. Business people have learned
how to avoid the errors of the past. Conserva-
tisni. which should be the principal tenet in the
creed of every business man, is fatal TO pan1cs.
1t has enabled Pittsburg on more than one oc-
casion to successfully resist emergencies that
overcame other communities
Business News and Gossip.
The average citizen had little taste for busi-
ness yesterday. Christmas memories and the
elements were against him.
1t is thought that the new dignity that has
come to Allegheny City will stir up business in
real estate on that side of the river. Owners
should not nip business in the bud by putting
up prices.
Property owners reap the benefit of enhance
ment; renters do not. This is an inducemeDt
to buy,
1t is estimated that 75 per cent of the houses
built during the year are owned by middle-class
| Many a Christmas dinner was delayed by the
| shortage of natural gas. In many cases wood
reSOrteQ
A block of fine handsome dwellings will be
| erected on the Braddock road, near the old
picnic ground, early next spring.
The Indebtedness of SewckIey borough is:
| Water bonds. $50. 600 at per cent, redeemable
| 1898; water bonds $4,000 at per cent, redeem
able 1895; street bonds $4,000 at ~ per cent.
at ~ per cent.
Yesterday was the dullest business day that
real estate brokers have experienced this year.
They were pretty thoroughly showed under.
Two county employees, bota young men have
cleared about sl5 GOO apiece this yea by selling
real estate in the Squirrel Hill district.
Black d Baird have issued handsome and
convenient calendar for 1891. whichtthey are dis
tributing among their friends and patrons.
| 1t was stated yesterday that "lO'' properties
| on Smithfield street. just. above Fifth avenue,
were sold last Monday for s., 500 foot front.
| 1t should have been "two."
| The Westinghouse Air Brake Company has
declared dividend of per cent, to be paid on
or before January 20 1891, to stockholders OF
| record December %.
The largest of 70 mortgages on file yesterday
was for SlO622.
Contracts have been made for several
| dwellings at Swissvale, work on them to begin
| early in the spring.
The only building permit issued yesterday
| was taken out by James Irwin & CO., for a
| brick addition mansard story office, 16x32 feet,
| on Ffty-seventh street, Eighteenth ward, to
cost $3.50.
| Movements in Realty.
James w. Drape d Co. say: ave have just
had telegram announcing that very i'm
portant transaction in real estate and manu-.
featuring property near the city, has been
closed, the consideration being over $780, O00
| Full particulars are necessarily withheld for
| the present by request, but may be given later
on"
The same firm sold house and lot in Ale
gheny, near Federal and Pearl streets, for 81 sos
cash: also house and lot in Mansfield for 81 $50
G. Beringer Son sold for Mr.. Patrick Coyle
| to Mr.. e. Wachter, The store and dwelling,
corner Seventeenth and Mary streets, South
side, for s.. 200 cash.
William Petty & Co. sold to Mrs Catherine
| Cloonan, for Richard Jones, the property NO.
| SO Fourteenth street. Southside, for s., 100
George Schmidt sold to = prominent Fourth
| avenue business man six lots on AhQuippa
| street, in Eureka place plan, Oakland. for
| $3.50. on easy terms. The purchaser intends
| erecting six dwellings to help supply the de.
mand for houses.
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