Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-12
DONE In THE DARK.
One Real Estate Firm Claims to Have
Sold a Million Dollars Worth
DOWN TOWN BUSINESS PROPERTY,
None of Which Has Been Reported and All
Of Which Remains q Mystery.
ACTIVE MOVEMENT ON FIFTH AVENUE

There is greater mystery in the real
estate market than that of Cherry alley. A
prominent broker on Fourth avenue re-
marked yesterday: Gas everybody knows.
very few of the big sales are reported. AL
most every broker has completed important
deals which he has kept from the public.
In doing so he but obeys the orders of his
clients. We have sold probably 81 600, 900
worth Of property within the last year which
only ourselves the buyers and sellers know
anything about Where is it located? In all
parts Of the city, but largely down town. Who
bought it? That is a secret that will not be
divulged for some time, if ever. But in gen.
eral way, 1 may say the purchasers were
sometimes individuals and sometimes COM
bination usually called a syndicate In most
cases the object was speculation.
II have known all about the Smith property,
Sixth and Liberty. for year or more. The re-
port that large building would be erected on
it forthwith is premature. The property is In
court When a settlement between the heirs
is effected they will build if they can raise
sufficient money on mortgage. Until that can
be done there will be no building"
Several important deals in realty were closed
up yesterday. Rev. DR.. Joseph Harner dis
posed of his property, Kirkpatrick avenue,
corner of B street. Allegheny, for $4500 A
Bedford avenue lot and residence passed into
the possession Of Miss Mary E. Neumont, who
paid s., 900 cash for it The seller was Mrs.
Margaret n. Begys. 1t was reported that
business property on Third avenue. between
Smithield and Grant had been sold for $50 900,
but the report could not be verified.
w. A. Heron & Sons sold lot on the east
side of College avenue, corner Fifth, in the
College Place plan, in size 10Ox22O feet. to Ara
bella street. The purchaser is living in the
East End, and intends to build on it soon. They
also sold in the same plan, on the opposite side
Of College avenue, lot to w. M. McKelvy.
Esq, who 1t is understood, intends building an
elegant stone residence on it the coming season.
1t was reported that another lot had been sold
in tie same plan to a prominent attorney, who
will also build this season for home.
In regard to the future value of Fifth avenue
lots, a broker remarked: "It Is safe to say
present prices are not high in the light of the
small amount available; for in real estate, as
everything else, supply and demand regulate
the market With the rapid increase of the
city, and the increasing demand for fine resi-
dence sites, it is certainly safe to predict much
higher prices for Fifth avenue property"
Speaking of the project for putting up a
building on the Sterrett estate, in Allegheny
City, for postofice and business purposes, a
Northside gentleman said yesterday: "As there
is no other equally available location In the
central part Of the city. l think the Govern
ment will accept 1t. 1t does not afford all the
room that some consider necessary. but it
would answer the purpose very WELL The de-
partment is so crowded that any location, it
seems to me, would be preferable to its present
sn-Hs-
located. 1t will be of brick and stone, four sto-
ries high, and will have front of 40 feet on
Ohio street and IS feet on " est Diamond street.
The second stories will be occupied by offices,
and the third and fourth will be used for lodge
rooms. Plans for the building have been drawn
up and work will begin about April ="
1t is clear from the staten sats II bank clear
ings from day to day, and also from the returns
of railroad earnings that the volum3 of trade
continues on large and increasing scale, this
has been the record for so long time that uD-
der constant reiteration statements to that ef-
feet become almost monotonous. Yet in any
review of trade conditions the great industrial
growth manifest on every side is the all-inport-
ant fact in the situation.
It may be claimed that the mild weather pre-
valent has been a prominent influence in this
special improvement The open winter GER
tainly does otter some advantages. But on the
other hand it must be remembered that GER
tain drawbacks follow from the same circum-
stance. Thus the demand for goods adapted
to winter wear is diminished, the consump-
ton of coal falls OF, and at the same time Or
dinsry traffic is in many cases interfered with
by the soft condition of the country roads, But
considering the situation from every point Of
view, the inc liable conclusion is that the bus
iness of the country is growing at a rate never
before knowl.
The Bankers and Bank Clerks Mutual
Benefit Association of Pittsburg lost three
members by death during the year ending No
vember /, 1889. Mr.. William Carr, President
of the Mechanics National Bank, died Decem-
Der 29. 1888 followed on February II, 1889, by
John P. Beech, cashier Of the First National
Bank of Birmingham, and on June II, 1889. by
Mr.. Geter c. Shidle, President of the Masonic
Bank. Other deaths have been: James w.
Davitt. w. J. McEwen, Richard Hays, Joseph
Irwin, Samuel George Jr., VIM. B. Holmes, A.
Grattan Murphy, Jr., Cyrus Clarke, Jr., VIM.
Walker. James Laughlin, VIM. Morrison.
George Walker, Horace s. Clark. George r.
Duncan, George A. Cook, Daniel J. Kerr, ]. r.
McCune, John P. Beech, Geter c. Shidle.