Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-29
A PANHANDLE DEAL.
Forty Acres Gobbled by a Wealthy
Syndicate for Subdivision.
OTHER IMPORTANT DICKERS.
Speculative Interests FlOundering in the
Slough of DespOnd.
THE NEWS AND GOSSIP OF THE CITY

Business in real estate is holding up
beyond precedent. Like the Norse-leech's 8
daughter, buyers are continually crying
for more. Summer sales so far are the
largest on record, and are at least so per
cent better than those for the same time q
year ago. Values are steady, A few
owners of choice properties are holding out
for an advance, but the majority are satisfied
with present figures
The movement last week, while 1t pre-
sented no sensational features, was admira-
BILE in volume and spirit. There was brisk
demand for small properties in all the out
| lying districts, and not a few were disposed
of. Nor were large interests neglected.
Transactions in acreage for subdivision
| Appropriated half q million dollars. showing
that moneyed men are alive to the Importance
of keeping in the front line in the march of i'm
provement.
1t is gratifying fact that but few Of the
buyers are professional spectators. They are
bankers, manufacturers, merchants and arti-
sans. who have faith in the future Of the city
and are willing to risk their money in land,
which is the basis of all prosperity. This gives
tone and character to the marker, lifts 1t above
mere merchandise, and furnishes guarantee
against reaction, or even halt
Proof of the Pudding.
An important deal in suburban realty, about
| which rumors have been in circulation for
several days, was practically closed by Anderson
| d Blackmore yesterday afternoon. 1t COM
prises about 40 acres on the Panhandle road,
near Grafton. and was purchased by syndi-
cate of well-known business men, at the head
of which are two bankers and newspaper
proprietor, The price approximates $1,000 an
| acre. The tract will be cut up into large build
ing sites and put on the market ABOUT August
]. The West End Street Railway, which will
soon adopt electricity as the motor, Will be ex-
tended to point beyond this property.
Black Baird sold Nos. Ill, lib and 1l5
Forbes street, being three two-story brick
dwellings, with four similar structures on the
rear end Of the lot, facing Ann street, to Robert
Anderson. Esq, for $4,000 The lot is 6Oxl22
| feet
During the week Reed B. Coyle & Co. sold IA
lots in the Watson Place plan. Perrysville ave-
nue.. Allegheny. The purchasers intend max
| ing hrst-class improvements at once.
| Frankstown avenue came to the front during
the week with three good transactions. One
of these was the sale of the Upstill property.
near Penn avenue, consisting Of a lot and i'm
| p'"'eineHto IOf eA".VVV. Saneo heaSn 700 sA0
purchaser. The second deal was that OF a lot
25 feet front, on Frankstown avenue, a square
or two from Penn, with good dwelling. 1t
was pougnt Dy MI. Ale1anoer W OH ior ON, IOO.
| The third was consummated by Samdel w.
| Black q Co., lot 8OxlOO feet on the northeas
corner Oh rranksto"n avenue Ano sIauon
sIeeh win t"o-story ouioins anu Ssofe-
rooms for sl4,oO0 The purchaser was II. Sem
pie.
Life Insurance Local Investments.
Since the talk of some of the life insurance
companies about building in Pittsburg. good
| deal of attention has been given to the enor-
nous patronage for life insurance in this city
and through Western Pennsylvania. Said a
| leading business man on the subject yesterday:
''It would be no more than consulting their own
| interests If some of the big companies looked
over their books, calculated their returns from
Pittsburg and decided to show their apprecia-
ton. as well as their confidence in the place. by
putting up oulolngs mere as tney nave done
elsewhere in places of less relative Importance.
iney nave TO invest tnelr assets anyhow. Pltts-
purg, "nicn contributes SO mucn TO these
assets' coulo not Dut De grained 70 see some
handsome srcni.ecturai evidence Oh them In
our midst Inc local nnanciaI institutions OF
tne CITY, sucn as tne bank OF commerce, the
ra German man NAlionai oanA-1ne rHst National, the
rldenly trust company, tne Masonic Bank,
lne Keystone ana many others ma such build
ings pay. Inc MS Insurance. interest," winch
are repuSeo W 10 80 enlerprislng snoulo not lag
penlnd-
business news ana GOSSIP.
A downtown business corner occupied as a
drugstore and owned by one OF the Braddock
farmers Is about to change owners at price
approximaung SS5,OOO
Yesterday the last pot of glass was made at
the Fort Pitt Glass Works previous to removal
to North Jeannette- This closes the history of
one OF the Oldest glass plants In the city, after
prosperous career OF o. years. The work of
removal Will commence immediately.
pany yesterday voted unanimously to increase
the capital stock from 81. 100000 to s.. 100000.
Dithridge q Co., VINO are erecting large
glass plant at North lJeannette as successor to
she old Fort Pitt Glass Works, have let con-
tracts for the accommodation of their work.
e., a. Iaool ao,o.itor,os es,n ooo ute"
Il over to the County Commissioners for the
REDEMPTION of that amount of riot bonds fan
ing due July 1. This large transaction caused
no furry in financial circles.
The Brushton School Board has purchased
for 81 600 a lot upon which to erect sI5 Ooo