Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-16
A BUSINESS MUDDLE.
Smithfield Street Property Sold Twice
With an Hour.
PROSPECT OF A LEGAL SKIRMlSH.
Mi. John Watkins Scoops in Fine, Hand
some Acres Of Land in Oakland.
HOW TO MAINTAIN ACTIVITY IN REALTT

A double deal in real estate occurred yes
terdsy which promises to end in litigation,
or at least in dispute. which will require
considerable tact to bring to an amicable
termination. Henry A. Weaver & Co. sold
the property Nos 4O5 and 407 Smithfeld
street, owned by A. L. Blackmore and oc-
cupied by the Cafe Bayley to the eRoy
Brothers for s67, 900. An hour afterward
Messrs. Black & Baird sold the same prop
erty to William Lang for S67, 800. Both
parties claim the property. Henry A..
Weaver & Co. say their men, the DeRoys,
will fight it to the end. If Mr.. Lang is of
the same mind the dispute, as before stated,
will have to be settled in court.
To complicate matters. as soon as the DeRoys
closed the terms they gave Messrs. Weaver
& Co. their check for 81 600 to bind the bargain:
and 1t = understood that Mr.. Lang paid the
entire amount in spot cash The owner is, no
doubt responsible for the muddle by giving
options to both firms. That they acted in good
faith cannot be questioned.
A sale of five acres on Robinson street, Oak
land, was closed up yesterday. The price paid
was 50, 500 an acre. The ground will be laid out t
In lots at once and put on the market. The
purchaser was Mr.. John Watkins of East
Liberty.
The ten acres of land situated at the head of
Hazelwood avenue Twenty-third ward, recently
purchased by ]. B. Larkin & Co.. have been
subdiyided. anil the plan is now in the hands of
the City Engineer for approval. When ap-
proved the property will be put on the market.
The tract is beautifully situated, and COM
mands fine views of Homestead Braddock and
Williamsburg and a long stretch of the Monon-
gahela river.
Concerning the Kelly property, corner of
Fifth avenue and Ross street. Mr.. Larkin, the
agent. said yesterday it was on the market. but
the report of pending negotiations and prospec-
tive sale in few days was premature.
1t is generally conceded that real estate is one
of the greatest interests of the city. Millions
of dollars are invested in 1t, and other millions
will be. 1t is. therefore, to the interest of
every member of the community to preserve it
on solid basis, so as to maintain the interest
and keep up the activity which have character
lied the market during the past two or three
years. This can be accomplished only by
moderation on the part of sellers and buyers.
The former should avoid extravagant demands,
and the latter cheerfully recognize the fact
that moderate advance in prices necessarily
follows expansion of population and business.
The demand for property increases with the
growth and prosperity of the CITY, 1t would be
unreasonable to expect the same prices to-day
that ruled five years ago. Buyers reap the
benefit of enhanced values as well as sellers. If
both work harmoniously together there will be
no interruption of activity in real estate, capi-
tai and population will pour in and the city con-
tinue to grow. 1t is great and important in
terest and should be handled with reference to
the future as well as the present.