Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-23
MORE SMALL HOUSES.
A Local Syndicate Almost Ready to
Begin Their Construction.
A PILE OF MONEY In, THE POOL.
Fairmount Avenue to be 0rnamented With
Fourteen Fine Dwellings.
GOOD ADVICE TO YOUNG BUSINESS MEN


time ago that syndicate of local capitalists
had been formed for the purpose of building
large number of small houses. Additional
information was obtained yesterday. The
scheme is making satisfactory progress.
The syndicate is headed by the President of
one of the street railway companies, and the
other members are all prominent in business.
The capital is S10O, 900, divided into 1000
shares OF 500 each. OF this amount $50, 900
has already been as good as placed.
Land will be bought and houses erected
along the lines of the principal street car
lines and other accessible places. Preference
will be given to no district over another. In
building some new features will be intro
duced. The houses will be rented at from
SIS to $40 month. 1t is the purpouse of the
syndicate to commence active operations early
in the summer.
The property owned by Mr.. Matt Wiess and
John Ober, situated on Paramount avenue,
within one square of Penn. consisting OF a
fraction over four acres, is to be handsomely
improved this season by the erection thereon
of IA fine brick dwellings, plans for which are
being prepared by Messrs. Straub e. Morris
They will contain from eight to ten rooms
each, combine all modern improvements, and
cost from S. 500 to 81 600. These houses being
of a high class will add materially to the ap-
pearance of that part of the city. Work on
them will begin as soon as the weather will
permit.
Young men just starting out in business for
themselves should bear in mind that persever-
ance is the only certain road to success. Said
one of the Oldest bank officers in the city yes
terday: when see men changing from one
thing to another 1 at once conclude that they
will never set the world on fire. They may sue
ceed. but the chances are largely against them.
There is no sentiment in business. 1t cannot
be coaxed or bribed. II is governed by i'm
mutable law. Hard, persevering work counts
for everything. Let me relate a little of my own
experience. When I started this bank met
with many discouragements. For days together
l didn't receive dollar on deposit. Discount
ing was equally slow. The first loan 1 made
was of s75. 1 persevered. however, and finally
succeeded in establishing about as large bank
ing business as there is in the city. If had
given up the struggle would probably be
working on salary to-day. felt that it was
my opportunity to make record for myself as
financier, and hung to it with the energy of
despair.
ANDREW Carnegie is not wanting in perse-
verance. but he narrowly escaped disaster at
the outset of his career. He engaged in the
iron business at the solicitation of the late ].
Edgar Thomson. One day Mr.. Carnegie went
to MIR. Thomson and told him that he had con-
cluded he was not altogether adapted to the
business and expressed desire to draw out.
He had met with some discouragement which
had shaken his confidence in himself. Mr..
Thomson talked to him in a friendly way and
induced him to change his mind. So far as
known, this was the only time that Mr.. Carne-
gle ever displayed weakness. 1t was the turn
ing point in his life. His energy and persever-
ance have made him not only many times a
millionaire, but enabled him to become one of
the worlds greatest benefactors.
MY advice to young men is never to yield to
discouragemeDt. 1t is hard to do this at all
times, but any other course is evidence of weak
ness and weakness sooner later leads to
failure. Davy Crockett's famous motto, BE
sure you're right, then 60 ahead expresses a
truth which lies very close to the bottom of
business success"
There are real estate owners in Pittsburg
who are always buying and never selling. A
case IN point transpired the latter part of last
week. An offer of about 5000 foot front, or
Sc, 200. was made for business property on
one of the principal downtown streets. The
owner responded by saying he would not take
500, 600 for tit was not in the market. He
owns large amount Of property. much of
which was purchased several years ago at very
low figures. He thinks it good investment
and proposes to hold on to it. There is no OBJ
lection to this-it is legitimate and business
like. But other owners who are disposed to
sell should not hold up such property as a critic
rion of value.
e., Sc, foo+ 10,
making of prices; but it is often made pretext
for nursing boom. Owners should mark the
difference and be reasonable.