Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-25
TWO LARGE GOBBLES.
Remains of the Siemens-AndersOn
Steel Plant Secured by a
SYNDICATE OF MANUFACTURERS,
And a Fine Business Property Changes
Hands at a Round Figure.
HSw THE CITY is SPREADING OUT

The remains of the Siemens- Anderson
Steel Company plant, which was bought at
the time of the failure, seven or eight years
ago, by a syndicate of steel manufacturers,
was sold by w. A. Heron & Sons yester-
day for 81, 500 spot cash.
The lot is located on Second avenue,
near Ross street, and is 72x160 feet, with an
L 42x52 feet The buildings are not very valu-
able. The purchasers will occupy it at once for
the manufacture of oil well tools and supplies
In reply to a request for news yesterday even
ing member of the firm OF Black & Baird
said: "You may say that we have just closed
the sale Of piece Of city business property for
1885, but we can't give details to-day owing
TO objections of the purchasers. The sale is
bona fide however" While nothing definite
can be affirmed as to the location of this prop
erty, there is ground for saying il is on Dia-
mOnd street.
This presumption was strengthened by the
remark Of prominent business man: ut is
likely that the widening of Diamond street will
lead to considerable litigation in regard to
damages and benefits, and, from what have
learned, some of the more timorous property
holders are willing to sell as to avoid
trouble"
At the present rate OF building the country
between the East End and Braddock will soon
be thickly covered with houses. The big bor-
ough at the end of the line is pushing west
ward to meet PIttsburg. Braduock is the nat
ural limit of Pittsburg in one direction as
Sewickley is in another. Their absorption by
the city would add to its power and prestige.
and be beneficial all round This seems to be
the ultimate purpose of the movement now in
progress and all public buildings parks and
other institutions for the benefit of the people
should be connected with this probability in
view.
The forty-fourth annual statement of the
Connecticut Mutual Life Insurance Company
which appears on another page this morning,
tells its own commendable story palmer than
any comment that could be written on it. The
company has within fraction Of SIS, ,0OO 900 of
assets and a surplus of S55SO.OOC on the most
rigid legal standard. Policy holders number
6SSSO insured for Sl5l, 7Ss 494 The receipts
last year were S7,70I, 22l 81 and disbursements
S6,9l6. S99 96 The figures indicate the strength
and security of conservative policy.
Mention WAS made a few days ago of the
Messrs. Mellon Brothers having sold a number
of fine fronts on the west side of Negley ave-
extends back to Fairmount avenue and will, 1t
is understood, be opened up at once. This
will throw upon the market one of the hand
soonest locations for fine residences in the East
End. Several sales have been made in addi-
tion to those previously reported-au Negley
avenue fronts. A number of fine residences
are already under way in this plan, and many
more are in contemplation
The opening up of California avenue and the
introduction of rapid transit, both of which
are confidently expected this season, will give
quite an impetus to real estate down the valley.
Tins district has so far failed to receive all the
recognition its merits deserve but it cannot
much longer be hidden under a bushel. 1t con-
tains some of the handsomest residence and
business sites in the county, while the variety
and beauty Of the scenery are unsurpassed. A
number of prominent business men have pur-
chased residence sites various parts of the
valley, and will build some fine houses during
the spring and summer. 1t is destined to be
the fashionable suburb of Allegheny City.
There is no abatement of the demand for
suburban property, as the daily record of sales
shows. As fast as one plan is bought up an
other is opened This keeps up the supply, and
holds prices within reasonable bounds. OF
course. with few exceptions, each new location
is little further from the center of the city
than the preceding. but this is far less objec-
tionable than formerly, owing to the inrroduc-
ton of rapid transit which, in large sense, has
obliteraJed time and space. Almost any part of
the East End is as accessible now as Lawrence
vile or Shadyside we're a few years ago.
Real estate values are well sustained-in-
deed looking up in favored localires-showing
confidence IN the present and future, and af-
fording irresistible answer to those who
prate about reaction. With brisk cash de-
mznd to back it up real estate will not only
hold its own, but gradually enhance in value as
wealth and population increase This being
true intending purchasers can gain nothing by