Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-06
PENN AVENUE STRUCK
Mr.. Thomas D. Messler Makes Cob
BILE on That Thoroughfare.
TWO OTHER BIG TRANSACTIONS.
An Ancient Bank Note Revives Recollection
of Famous Burglary.
THE STATUS OF LOCAL BUSINESS

Mr. Thomas D. Messler purchased yester-
day, through the firm of Black & Baird,
from the McCargo heirs, of St. Louis, Nos.
914 and GIG Penn avenue, lot 81 feet by ITO
to Exchange alley, with several old build
ings thereon, for $4,000, or 81, 400 foot
front This is considered a reasonable
price for that neighborhood. Mr. Messler
will improve the property.
Messrs. Straub s. Morris are about closing
up deal for large tract of land in the
Nineteenth ward, involving about $4,000 The
probable purchaser is a well-known business
man, who, if he succeeds in making the ritfie,"
will subdvide the property and put it on the
market.
A piece of downtown business property is
about to change hands for s60.0O0. 1t is ex-
pected that the deal will be closed tomorrow.
Messrs Charles Somers & Co., who are con-
ducting the negotiations. were asked for par
ticulars, but said they were pledged to secrecy.
Something of curiosity in the way of a bank
note is on exhibition IN a window on Wood
street. 1t was issued by the Farmers and Me-
chanics Bank, of Pittsburg, and bears date
1872 As work of art 1t is not a success, the
engraving and printing being rough and the
paper of poor quality.
The bank was located on Fourth avenue, Just
below the present Bank of Pittsburg Soon
after it was opened for business it was broken
into and robbed of about $4,000, which was
quite large sum in those days.
Two OF the burglars were captured-one
named Bemart, at Cleveland. by Sheriff Will
lam Lecke. The other turned States evidence
and told where the money was concealed in
Beaver county. Nearly all of it was recovered.
Bemart was convicted and sent to the peniten-
tiary. but escaped in few months.
A stock broker remarked yesterday: There
is not much doing now, but think see pros
pect OF lively times ahead. The Americans are
born spectators. Pittsburg, with all its con-
servatism, is full of people who are fond of the
excitement. Hard, persistent work brings
slow rewards. 1 admit it is safe. but it is not
fast enough for nervous men. They have been
standing around with their hands in their
pockets for some time watching for pointers.
1 think they will take hold before long. Plenty
of per cent money is an inducement which
they cannot much longer resist. Pittsburg Sc
curities are in good shape for wbirl.
II have no idea that speculation will amount
to a craze, as in 1873 and several previous
years. Our people have learned caution from
costly experience. Balloon stocks find no
favor now except with very few. There is no
more danger in handling reliable securities
than there is In dealing in dry goods or grocer
les. They have fixed market value. and are
always salable. Reckless speculation is inju-
rious to the country, but dealing in substantial
properties, such as are listed on the Pittsburg
Exchange, puts money in circulation and slim-
ulates business"
Among the many improvements made within
decade there
wonderful than the improvements in woodwork
ing machinery, some modern machines display
ing an almost human intelligence and turning
out work that would do credit to the hand of
skilled artist The working of geometrical
figures on wood by the Goehring (Pittsburg)
machine is truely marvellous, as is also the en-
bossing or wood engraving machine recently
patented by a Western man, by means of which
the human face or form, animals, landscapes or
anything that can be drawn with pencil, can
be produced on the surface of wood. When all
wood carving had to be done by hand it was
only the rich who could indulge in the extrav-
agance of furniture so ornamented, but in this
age of machine work the furniture makers are
enabled to supply their customers with the
most elegant designs at a cost no greater than
was formerly charged for plain work.
Pittsburg business men are hard to please
but they could fnd no reason to complain of
the condition of trade last week. The weather
was tickle, with too much rain for out-of-door
occupations, and there was a holiday; but
against these drawbacks everything held its
own, and the volume of transactions was up to
the average.
Very few special features were developed
during the week. Stock dealing was moderate
with no pronounced price changes. There
WAS pood feeling all throuph bowever and
brokers were hopeful. Petroleum was fairly
active and weak. Field Developments favored
the bears.
Real estate maintained its customary ac-
tivity, and values were very steady. A large
number Of transactions were closed up many
of them being important. Sellers are begin
ming to realize that the only way to keep this
great interest in full swing is to avoid infia-
tion. Fair prices attract investors.