Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-22
DO NOT SPREAD OUT.
Too Many Irons in the Fire Cause
Much Business Distress.
HOW WALUMBER KING LOST HIS GRIP
No Material Changes in Stock Values, but
the Feeling Less Bearish.
THE NEWS AND GOSSIP OF THE CITY

have had no business panic, and Will not
have. Conditions are not favorable. Cap
italists will no doubt grip their pocketbooks
little tighter, but there are so many OPP
portunities for profitable investment that
they will soon come around all right. A
few banks which have been free lenders on
stock collateral may have to hustle for
money to supply their customers, but they
will pull through. Pittsburg was never in
better shape to resist financial pressure. All
of her industries are driving ahead day and
night to fill orders. Besides, she is one of
the few creditor cities of the country. Her
products are bringing in money all the
time. This will soon relieve any stringency
that exists or may arise in the money market
There is no cause for alarm"
One Thing at Time.
A fruitful source of business embarrassment
is the attempt of individuals and firms to do
too much. In other words, they put so many
irons in the fire that some of them are over
looked and ruined. This is good time TO ILL.,
stitute a reform in this matter. If every busl-
ness man will attend strictly to his legitimate
calling, no matter what it is he can bid de-
fiance TO financial furries and whistle panics
down the wind. Indeed. it will be impossible
for such things TO occur.
The danger incurred by attempting too much
is forcibly illustrated by an incident in the
career of R. G. Peters, the Michigan lumber
king, who failed for a large amount not long
ago. 1t is well known that Peters had many
irons in the fire, that he had interests and
partners in nearly all parts of the country. and
that it was impossible for him to give personal
attention to all branches of his affairs. Some
of his partners were the souls of honor and
looked after his interests with the same care
fulness as their own but all of them were not
built that way One of the partners, it is un-
necessary to state where located, apparently
made up his mind to get all he could out OF
Peters, and he had nice plan formed to that
end.
To carry out his purpose it became necessary
to write to another party, and at the same time
he wrote that letter he wrote one to Peters,
The letters were accidentally placed in wrong
envelopes, and Peters received the letter in
which was detailed the plan for his robbery and
the other fellow received the letter written Tor
Peters benefit Peters then realized that his
interests were too widely scattered to give all
of them personal attention, and this letter
opened his eyes to the fact that he had unfaith-
full servants. He found. when too late, that he
was too tightly tied up to get loose all at once,
and the assignment followed.
Business News and Gossip.
Mr.. Hilands has sold a house and lot in
Baum's Grove for IS, 400.
A correspondent wants to know if real estate
values have not reached the top. They have
not, and will not SO long as demand continues
active. Those best informed look for no mate
rial advance in ordinary building lots for some
time. but choice business and residence sites
will command considerably more money next
year than at present.
1t was reported yesterday that an offer of
Sl55,00O had been made by well-known busi-
ness man for the Exchange building.
Only two building permits were issued yes
terday-one by ]. NJ. Skiles, for a frame two-
story and attic dwelling, 2lx4S feet, on corner
Broad and Beatty streets, Nineteenth ward, to
cost s., 900. and the other by w. L. Scott, for
three brick Iwo-story dwellings, 14x35 feet each,
on Wright's alley. Twenty-ffth ward, to cost
S4,025
xlS2, on Wallingford street, Shadyside. to the
Church of the Ascension (Episcopal), for
$4,000. The house will be used as rectory.
Several brokers report customers who want
to exchange unimproved for improved prop
erty.
Twelve of 80 mortgages on file yesterday were
for purchase money. The largest was for S37,-
500 and the next largest for S3l ,86l. Each of IA
was for less than 81, 900.
The Fourth National Bank has declared a
dividend of per cent payable forthwith.
The London stock market closed quiet and
strong yesterday. No further disturbance was
expected.
Thomas Liggett-Some of the local investors
have lost their love for stocks. Two of them
have left orders with me for real estate.
The purchase by H. Fl. Negley from the
Monongahela Insurance Company of 20 acres
at Swissvale, for $4,000. was reported in this
column about two months ago.
A charter was issued at Harrisburg yester-
day to the Shannon Run Oil and Gas CON-
pany. of Pittsburg, with capital OSLO 000, and
as directors; i: =. Foley, j. w. Patterson, NJ;
John F. Armstrong
A gentleman from Sewickley said yesterday
that the new national bank at that place was
DUNG land office business. Business men find
it great convenience.
Movements in Real Estate.
James w. Drape & Co. sold an interest in
eight houses and lots in the city, amounting to
SC, 400.
Brown & Saint sold to Thomas c. Lindsay
lot 5Oxl2O feet on the south side of Baum
street, being lot No. 60 in the Baum Grove
plan, for s., 100
Magaw & Goff, limited, sold for R. P. Hous-
ton to Margaret R. Brown new hve-roomed
frame house. with lot 24XlO0. on PARK avenue
Etna Park place, for 81, 200.
Black & Baird sold to A. ]. Gesky and ].
Heinemann for e. A. Burrows, lot No. II in the
Herr Feilba en- plan, on the Butler plank road
in Millvale borough, in size about 106x175 feet,
for 81, 400
Charles Somers & Co. sold for j. A. Miller to
H. F. Texter, a lot on Blaine street. Brushton.
comprising frontage of 80 feet by depth of
l44 feet, for $50.
Samuel W. Black & Co. sold a lot in the Blair
estate plan, on Lafayette street. Hazelwood
Twenty-third ward, 3lxl2 9for 500 cash.
w. A. Heron & Sons sold on Clay bourne
street. Shadyside. near Aiken avenue, modern
and almost new house of six rooms, attic, bath
and late improvements, lot 30Xl5e feet, for
$3.50 on the easy pay ment plan.
NJ. T. Nipple Co. sold to w. H. Miller lot
24x9S feet, on the west side of Middle street, in
the Dawson plan, O'Hara township, for $780,
HOME SECURITIES.