Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-27
THE TIME TO MOVE ON
Owners of Unproductive Property
Standing in Their Own Light.
BETTER TO SELL AND REINVEST.
No Improvement in Stock Trading, While
Oil Shows Up Quite Groggy.
THE NEWS AND GOSSIP OF The CITY


fall trade. to bring unproductive property
into the market. There is good deal of it
in the city. more than most people are aware
Of, that could be turned to advantage if the
owners would only do it. 1t is not bringing
them more than 2 or per cent, but they re-
fuse to sell aud are unable to improve.
Thev hold on, thinking the tide will soon
set their way They have been thinking so
for years, but their hopes are unrealized.
Considerable Of the property in question
is in the business quarter of the city. and
would bring fair prices. By selling it own
ers would not only benefit themselves, but
afford business an opportunity to penetrate
districts from which it is practically exclud-
ed for want of accommodations; for with the
money thus realized they would be able to
invest elsewhere to good advantage, and at the
same time open a way to improvement, whlcn Is
most needed to relieve the business pressure
While there is no disposition to compel own
| ers of city property that is barrier to neces-
| sary improvement to dispose of their holdings,
even if this were possible, they should not over
| look the fact that with very little trouble they
| could double or treble their income by selling
| and reinvesting, whereas by holding on they
| may get better prices and they may not There
is an element of uncertainty in the latter case,
| but not In the former. In real estate matters,
| as in everything else, the old maxim holds good
| that bird in the hand Is worth two in the
bush. Owners who will neither fish nor cut
| bait may be ornamental but certainly are not
the most useful members of this stirring CON-
| munity.
Business, News and Gossip.
The large number of buildings under way
and projected show that Plttspurg is marching
on.
Two ladies' desiring to rent a house in Will
kinsburg, tramped all over the borough on
4honday without finding one. Notwithstanding
activity in building, the supply of dwellings is
so far short of the demand that many families
are compelled to double up. The shortage af-
fects the city as well as the suburbs.
More than 80 per cent of the m ortgages on
file yesterday were for purchase money. There
were % in all, the largest of which was for
5000. Twelve were under $1,000.
wholesale grocer on Liberty street has
been looking for building site for 26 years, and
the higher prices get the more anxious he is to
purchase. He thinks he will make the rifle
one of these days.
Squire Herman Handel has been invited by
the National Grange of the West to open their
convention in Chicago on September 26 with an
address on Mortgage Interest in Farms" The
grange represents nine of the Western States,
and much interest Is manifested in its delibera-
tions. The Squire has also been invited to
speak at Williams Grove Pa, tomorrow. He
is getting quite reputation as an orator.
Charles II. Dixon, bookkeeper for Black &
Baird, came home yesterday from his summer
outing at Atlantic City. One of his diversions
was horseback riding in which he was moder-
ately successful.
The Monongahela Water Company has issued
Sl00, 900 worth of new stock and allotted it to
stockholders at par in the proportion of to 10.
The stock was issued for the purpose of paying
for plant improvements and extensions.
The work of canvassing for subscriptions to
the $50 900 capital stock of the proposed First
National Bank of Sewickley, is being actively
conducted, and with every prospect of success.
Earnings of the Pittsburg and Western Rail
road for the third week in August show a net
increase of s9Sl over the corresponding time
last month.
reported to be producing over 800 600 pounds
of copper per annum.
Movements In Real Estate.
Thomas B. Moreland bought from Mrs. Knox
lot adjoining his residence on North Highland
avenue 24xllO, for 81 900. or at the rate of Sl66
foot This shows quite an increase in values
on that avenue in a short time.
M. F. Nipple Co. have closed three deals
on Negley avenue within the past two weeks
The last transaction of the series was concluded
yesterday. 1t consisted of a lot and two dwell
ings, one of ten rooms in the Queen Anne style,
on the northwest corner of Negley avenue and
Elmer street. the price being Sll, 900 cash. The
sale was for Mrs. Isabella Smeigh to a prom
inent building contractor.
Ewing & Byers sold for James w. Geerard to
Mrs. Christianna Hays frame house of six
rooms, hall, vestibule, bath, &C., with lot 2OxSO
corner of Hudson and Carey streets, Twelfth
ward, Allegheny, for So, 800.
w. A. Heron q Sons sold lot 40xl20 feet
on Alder. near Edwin street and South High
land avenue. for s6U per foot front
Reed B. Coyle & Co. sold to W. W. Giffen for
W. McHenry lot in the Twenty-firsr ward.
fronting % feet on Grazier street by l30 feet in
depth to a 20-foot alley, for $500 cash.
Black q Baird sold to W. j. Wells for 7
Walter Hay lot No. 95 in the Valley View place
for $3.50
Allies & Bailey sold lot No Al in E P. Jones,
plan. Thirteenth ward size 5ex96 feet, fronting
on two 40-foot streets, for $500 in monthly paw
ments of sl0
Baxter. Thompson & Co. sold for John W.
Mckinney lot No. 254, Bank of Commerce
addition plan. Brushton station, fronting 30 feet
on Bennett street by l37 to a 20-foot alley to f.
NJ. Dawson for $3.50
Mellon Brothers sold lots No. As and 46 In
Copeland place plan, near Braddock, P. r. R..
to John Rosenbauer, together fronting AZ feet
on Lloyd avenue, for $3.50.
ALMOST PARALYZED.