Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-23
ONE OF THE FINEST.
The Equitable Insurance Company
Negotiating for Site for
A SPLENDID GRANITE BUILDING.
Light Let in on Deal Involving Nearly or
Quite Two Million Dollars.
A GREAT BOOM FOR THIRD AVENUE.

For several years d.. Wood, local man.
ager of the Equitable Life Insurance Com
pany. has been making his best efforts to in
duce that corporation to erect building in
this city similar to those which it has put up
in Chicago, st. Louis and elsewhere. The
company has for years done an enormous
business here, and this was urged as reason
why IL should in turn bestow some substantial
recognition upon the city. 1t is believed That
success is about to crown DR.. WOODS endeaV'
ors.
Tho General Manager Of the company has
paid two visits to Pittsburg. with view to Sc
iecting site for building. but on both occa-
slons, while admitting that the city was pros
porous and growing rapidly in wealth and pop
ulation property suitable to his purpose was too
high Two sites were examined, ono at the
corner of Fifth avenue and Wood street, occu-
pied in PARTLY the Baltimore and Ohio Rail-
road, and the other at the corner of Fifth ave-
nue and smthfielj street. known rs the Spane
property. They suited him perfectly In every
thing except tho price. which was too steep to
suit his views.
This was about a year ago. Since that timo
very little has been said about the matter, but
DIR. Wood did not permit the project to DO Tor
Cotton. He kept on aeitating Through his
foot By the company short tino ago TO secure
n site In central part OF the city, where values
are reasonable and enhancement certain. This
movement has reached stage where success
seems certain, m tho following statement, made
10 TIE DISPATCH representative yesterday by
n gentleman Of high standing, aud who OBJ
tAined his information from q reliable source,
sufficiently shows He Haidi
"The Equitable Lifo Insurance Company IN
10
erect q splendid granite building for their own
use. and also for storage and ofiloeh. Although
am not at liberty 10 give the exact location,
I may say that II In within three squares OF tho
new Government building, and may be east or
west OF II, The company, through It's repre-
aentstiyea, II making offers for tho property,
and the indications ara that they will DO Ao-
cepted. think tho deal will be q go. One OF
tho owners was offered $780, 900 for his premises,
which cost him less than $4,000 about four
years ago. Other offers were on similar scale
OF IIbcrality. The entire block will cost the
company very nearly sl,O000O0. The building
will cost nearly or ~ quite as much"
A little more light on subject OF such su'
preme Importance being desired. visit was
paid TO gentleman on Fourth avenue, who is
we'll posted In the Equitable Company's af'
fairs. He refused to talk directly to tho point,
but strongly intimated that tho block In ques-
ton Is on Third avenue. from Smithheld TO
Wood, and includes the Central Hotel. He
further said that Mr.. Yoder was the gentleman
who had been offered $4,000 for bis property.
Other offers, he said, had been made. and were
being considered favorably SO far as he knew.
He remarked that the company was In earnest,
and now that 1t had made start, he had little
doubt 1t would 60 ahead and put up building
that would be credit to It and an ornament to
the city.
1t Is understood that two or three other insur.
ance companies are also contemplating the
erection of bull dings here. but are waiting for
the Equitable to show Its hand before adopting
definite measures.