Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-07-01
FIGURES DON'T LIE
In Showing the Phenomenal Busi-
ness Expansion of Pittsburg.
ONLY FIVE CITIES AHEAD OF HER.
Home Securities Brace Up a Trife, but
Petroleum Still in Bad 0dor.
THE NEWS AND GOSSIP OF THE CITY

THE NEWS AND GOSSIP OF THE CITY
Pericles being asked by rival what good
he had been to Athens, pointed to the mag
nifcent buildings which had been erected
during his administration as the answer.
A lawyer visited a client who had been
Jailed for a trivial offense and told him they
couldn't deprive him of his liberty for such
a misdemeanor as he had been guilty of.
"But they have" he replied. What L
want you to do is to get me out" Cold facts
cannot be set aside.
The claim that Pittsburg is increasing in
business at a marvellous rate is supported by
figures which cannot be refuted. They are Of
fetal and reliable, They have not been cooked
to deceive the public and bolster up local pride,
but present the situation as 1t is. Take last
weeks reports of the clearing houses OF the
country. PIttsburg, although uni ustly ranking
thirteenth or fourteenth in population, is sixth
in the amount of bank exchanges, being ahead
of San Francisco Baltimore and Cincinnati, and
only s. 0O0, 900 behind st. Louis. This is all the
more remarkable from the fact that each OF
those cities is a speculative center. while Pitts
burg depends altogether upon solid business,
checking on speculative account amounting
probably to less than s., 900 day.
The volume of business transacted in 18S9was
the largest in the history of the city to that
time. 1t was year Of great and prohtable
activity. Bank exchanges were nearly $l00, ,000,
600 greater than those for 1888. This was graft
fying and encouraging. Croakers ceased to
croak, and admitted that Pittsburg was quite
business place. But this splendid record will
be completely eclipsed this good year of grace,
1890 The gain in exchanges for the first half
of the year within SIS 600 of the total gain
of 1889 over 1888. With the same ratio main
tained-and it is more likely to increase than
diminish, as the fall and winter trade promises
to be large-the gain OF 1880 over 1889 will ap-
proximate S2O0. .0OO. 000 The gain last month
over the corresponding period in 1889 was ST.
600, 900 in round numbers. The heaviest trans
actions in 1889 were in October, one of the best
months of the year, s64, 240, 765 65-less than
Sl00 900 in excess of those for the month just
expired, which is usually regarded as one Of the
dullest
This growth is not spasmooic or ephemeral;
it has been steadily onward and upward for
decade or more, and is the legitimate outcome
OF conditions peculiar to Pittsburg, and which
will make her future still more prosperous
than her past has been. No city offers equal
inducements to capitalists to engage In any OF
the great activities Of the times. There are no
indications of a halt in the forward movement.
Business News and Gossip.
m. Thorp. Esq, of the Pittsburg bar, has
commenced the erection of a fine residence on
Locust street, Edgewood.
Mr.. John W. Heron. of w. A. Heron &
Sons, will spend his vacation in Europe. He
will sail on Friday.
The big deal on the Panhandle, involving
$4,000, reported in Sundays issue. was nego-
tiated by Anderson q Beeckman, Linn, not
Anderson q Blackmore. as printed
Mr.. ]. c. Hill has sold, through W. A. Her
ron d Sons, his two lots at Edgewood for $500
each.
tract has been let for block of so houses at
North Jeanette.
Wall street brokers think that July will be
an active month in the stock market and that
prices will mount to q higher level.
New York Customs House ofisials report the
gold exports last week at S649 200, of which
s5O5 200 went on the Normandie to Havre, and
sI00, 500 to Havana a..
Railroad earnings: Burlington, Cedar Rap
ids and Northern, third week in June, increase,
s.. .2S5; Atchison, third week June. increase.
Sl26 oil; ST. Louis and San Francisco including
one-half Atlantic and Pacific, third week June,
increase. s225, $50; New York, Lake Erie and
Western, net increase month of June SSl, ,Sl9.
So much acreage around Pittsburg is being
subdivided and put on the market in small
parcels that fears are expressed in some quar-
tiers that vegetable gardeners will be forced to
abandon the business. making 1t necessary to
look up another source of supply for the city.
Business shows up sl7, 600, 900 better for June
this year than for the same month in 1889.
This is high pitch. Something must be
going on.
Alton Railroad officials claim that the agree.
ahonf doy hut he
dents, to maintain strictly all tariffs, is not
being observed between Chicago and the
Missouri river and one of these officials, in an
interview, threatens to meet secret cuts openly.
This looks like another rate war.
Movements In Real Estate.
The principal event in local real estate mat
ters yesterday was the sale by Hamnett &
Meredith, through Baxter. Thompson & Co., of
the property on the southeast corner of Third
avenue and Market street. lot 80 on Market
and 62 on Third, with two three-story brick
houses, for John McKelvy and others to a we'll
known business man, for $4,000 cash. The
buildings will probably be removed to make
room for fine business structure.
James w. Drape & Co. placed a mortgage of
s45O0, at per cent, on property on Washing
ton street, city, and In Stowe township.
Brown & Saint sold lot No. 496 in Valla Park
plan, Brushton station, having a frontage of 40
feet on the west line of Backadore avenue and
extending back 150 feet to 20-foot alley, for
$500 John A. Brush was the purchaser.
Charles Somers & Co. sold to II. Patterson
lot No. II in Benton place plan, fronting "a feet
on 4O-foot street, and in depth ITO feet to an
alley, Tor 500.
Samuel W. Black & Co. sold for the Yoder
Land Company a lot 5Ox17O feet, on Roup street.
for price approximatlng s35 per foot front.
Baxter, Thompson & Co. sold lots 86 and 3S
Belmont Place, Ingram station, fronting lOO feet
on Linden avenue, by lS1 to 2O-foot alley, for
s., 100. This property Is severed and sold sub
ject to restriction.
Black & Baird sold for E. F. Daume two
story frame house Of seven rooms, with lot 49x
1l6 feet, situate on Ivy street, East End. for
$1,000 cash. The purchaser was George FL
bourne.
Reed B. Coyle & Co. sold to G. v. Watt lot
No. II in Marion place plan. being 25xlOO feet
on Monongahela street, for $780,
Hamnett q Meredith sold through Baxter,
Thompson d Co., the property of John HOrner,