Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-11
OWNERS OF REALTY
Advised to be Moderate in Their De.
mands to Encourage Buyers.
PRICES WILL GRADUALLY MOVE UP
Speculative Interests Ratified and Values
Sink to Zero and Below.
THE NEWS AND GOSSIP OF THE CITY

An experienced real estate broker re-
marked yesterday: II am often asked for
an opinion respecting vaIues-whether they
are likely to advance, decline, or remain
stationary. Business and choice residence
properties are steadily advancing. They are
comparatively scarce, and, as they are
wanted by people in affiuent circumstances,
with whom location and surroundings are of
greater importance than money, they are al
ways in demand at top figures This is
guarantee against a slump in this direction,
and also explains the recent action of some
holders in ordering their agents to mark up
their goods. They realize that demand will
keep pace with the growth of the city, and
that it will be as easy to market their prop
erty one year or five years hence as it is now,
and at price so much higher that it will
well pay them for waiting. This is sound
conclusion, and that buyers take the same
view is shown by the large number OF trans
actions in high-class properties. This being
the case think 1t perfectly safe to assume that
it will be many years before business and resi-
dence properties of the kind in question will
reach the top round of progression. Hence,
think this is good time to buy. 1t IS certain
LAS to ordinary building sites. while they are
in good demand and are being picked up very
fast. there is SO much acreage susceptible OF
subdivision, and which the extension OF rapid
transit will soon make available that while en-
hancement is certain. it will be so gradual as to
be scarcely noticed: This Is good feature OF
the market. A radical advance in building lots
of the kind under review would drive buyers
out of the market. since purchasers are largely
of the wage-working class. and easily reach the
lir1if nf fl,nir iaua nN
compelled to compare their outlay to their earn
ings, and will only buy when 1t is as cheap or
cheaper than to rent. Without reasonable in
ducements they will remain renters, because
they cannot afford the expense OF proprietor
ship. Now, and for several years past, the mar
ket has been In their favor, ana that they nave
not been slow to take advantage OF 1t the vol
ume of sales abundantly testities. The acquisi-
ton of homes cannot be made too easy for the
good of the city and the best interests of real
estate. and owners having property on the mar
ket will expedite business by putting curb on
their demands, SO as not to discourage buyers.
Business News and Gossip.
The piano and organ factory at Mendelssohn
is about ready for business. 1t is said the COM
pany has orders enough to keep the works
going year.
Stockholders of the Fidelity Title and Trust
Company will hold their annual meeting on
Thursday of this week at p N.
The Pennsylvania Railroad reports that the
quantity of coal aud coke originating on and
carried over its lines east of Pittsburg and Erie,
for the week ending November l, was 3459S7
tons, of which 237 76l tons were coal and l0S,226
tons coke. The total tonnage for the year thus
far has been IA. 297. .S55 tons, compared with II
664. 80 tons in the corresponding period of 1889.
Nineteen of 40 mortgages on file yesterday
were for purchase money, The largest was for
5000. Each of a was for less than $1,000.
There is more improvement going on in lower
Allegheny than is generally supposed. With
this as a starter. the completion of California
avenue and establishment of rapid transit will
give that part of the Northside forward i'm
pulse that will compel even the East End of
Pittsburg to look to its laurels.
1t was mentioned few days ago that site
for a tannerv had been purcha>ed between
Brushton and Williamsburg One of the pro-
moters said yesterday that work on the build
ing would begin early next season.
Wall street is undergoing one OF its period
ical jam borees. 1t will soon run its course.
Pittsburg is too solid and conservative to be
seriously affected by such craze.
The Third National Bank has declared its
customary per cent semi-annual dividend.
Ninety-two railroads for the month of Octo-
ber report gross gain of 3. IA per cent, and for
the fourth week in October Sc roads report
gross gain of 3.72 per cent