Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-09
BUYING ALL ROUND.
Several Pieces of Down Town Busi-
ness Property Change Hands.
GOOD. BUT NOT FANCY PRICES.
Failure to Sell the County Buildings on
Diamond Street at Auction.
ARCHITECTS BUSY ON IMPORTANTWORK

The most important event in real estate
that was allowed to reach the surface yester-
day was the sale BY Black & Baird of q
three-fourths interest in q business property
on Smithfeld street, near the new Postofice
building. Property in this part of the city
is beginning to be appreciated.
Samuel W. Black & Co. completed the
transfer of a business property on Wood
street, near Second avenue, for $22, 900. The
name of the purchaser could not be obtained,
| but It was stated that he would either improve
the present building or put up new one.
Still another piece of downtown property was
picked up at price approxImating Sl7,OOo 1t
belonged to the Mrs. Phebe Phillips estate.
Mr., +. c. Koehne is the reputed purchaser.
1t was reported that the McKelvy farm, near
swissvale. had been purchased by q syndicate
OF local capitalists who would subdivide it.
The price mentioned was $4,000 The report
could not be confirmed.
ER4
There was a small attendance at the auction
sale Of the old county buildings on Diamond
street.. at the Court House, yesterday. This
was due mainly to the impression that had gone
abroad that they would not be sold, but re-
tanned by the county. and the mistake could
not be corrected in time to make yesterdays
offer a success. Major A. ]. Pentecost was
master Of ceremonies and although he failed
to hnd purchasers for the properties he has the
satisfaction of knowing that he laid the founda-
tons for future success There was q bid of
81, 900 on the building next to the railroad, but
this was far below the views Of the Commis-
sioners. There was no offer for the other.
The sale was postponed until next Saturday at
o'clock at the same place. The properties
are very valuable, and it is thought they will
70 nj vuha AE.4o
is Of this opinion.
Architect Sauer is preparing plans for three
business houses on Diamond street. Architect
Steen has completed plans for business block
on the southwest corner of Ohio and Diamond
streets, Allegh ny. George Hogg Of Braddock,
was awarded the contract for the erection of
the projected wire mill at that place. Irwin is
TO have new hotel It will contain 40 rooms.
w. G. Price q Co. have purchased ten acres at
Penn station, upon which they will build
foundry and shot tower. Henry Davis intends
erecting four-story building to be arranged
in fats, on the corner of Forbes avenue and
Marion street.
Speaking Of real estate. a prominent capital
ist remarked yesterday: There are people who
will tell you We will have q reaction They
might as well tell US the waters Of the Allie
We are not living and doing business as we did
for decade after the Civil War. Values were
out Of JOINT then and imitation was the rule
Heavy drafts were made on the future. The
country Is in different condition from what it
was when Black Friday caused a general
paralysis. Business is on q solid basis There
has never been q time when disaster seemed
more remote. We have abundance Of capital,
reasonable interest rates and stable values.
Reaction under such conditions seems impossi-
ble"
The report Of the Bureau Of Inspection Of |
New York for 1889 shows an increase of d722 |
houses for the year. The improvements cost |
S75 912 s16 against S54 695, los expended in 1885,
Twenty-Five churches cost 81, 400 800; 10 hotels,
g. 1873 900; 15o stores, SS S6s no; q ONCE build
ings 81 $50; Isl factories, 81 797 400 IL school
houses, S76S 600 The alterations cost s. 4O7, ,e44
The largest item was that OF fats and tenement |
houses costing over SIS, 600 These numbered |
!, 855, the estimated cost of which was S32 O7S,-
600 The dwelling houses costing between
SO 900 and $50 900 numbered 28S and cost S. 1872
800; four dwellings were erected at an aggre-
gate cost Of S4S5, 600, 625 other dwellings were
built at cost of IS, 5,927, ,050 One hundred and
ninety-fOur tenement houses cost s., 299, 300
No one Of experience will deny that money is
one of the great practical forces Of organised
society. The poor boy who resolves TO make
money! is not necessarily mereenary In his
spirit or low in his aims. To gain foothold by
the ownership Of property is simply one step on
the road to success. That gained, he has gained
a great lever. Every energetic, aspiring Amer
lean boy may rightly and naturally look for
ward to the accumulation of property. Alarge
majority of American millionaires started out
as poor boys. By industry and economy they
became rich. Their example is worthy Of con-
stant imitation. Everything in this country is
open TO poor boys