Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-19
ANOTHER BIG PLANT.
MeSsrs. Hammond & Sons Secure a
Site for an Iron and Steel MILL.
THEY MAY INCLUDE TIN PLATE.
A Local Lumber Dealer Furnishes InfOrma-
tion on the State of Trade.
PITTsBURG A DISTRIBUTING CENTER

Messrs. Hammond & Sons have purchased
about 10 acres of land at the east end OF
Mansfield borough, which has been staked
off for their new iron and steel works, plans
for which are being prepared. 1t is said
they will add tin plate factory at an early
day. For part of the land the firm and citl-
EeDs together paid $4,000. The rest was
donated by Colonel Glenn, who owns the
adjoining tract. The natural gas main from
Washington county to Pittsburg passes through
the property.
VIC. Erskine, Esq. sold lot on Grant
street, Sewickley, to George II. Anderson for
s, 800. Mr.. Anderson recently obtained posses
sion of the adjoining property, on which he
erected fine residence.
The following communication contains much
that is interesting in regard to the status of the
| local lumber trade:
To the Financial Editor Of The Dispatch
1 have a complaint to make at the very out
| set. The lumber trade of Pittsburg does not
receive as much attention from the press as it
deserves. It has within few years grown to
be one of the great interests Of the city. The
business last year footed up S6,OOO,0OO or over.
1t will be larger this year. This is too impor-
| tant to be ignored. PIttsburg occupies posi-
tion in the lumber trade to which large area
of country is necessarily tributary; that means
that she is, and must remain, a recognized CEN
| ter of distribution. Southeastern Ohio part OF
| West Virginia and of Maryland and all OF
| Western Pennsylvania draw supplies from
PIttsburg instead of Philadelphia, Baltimore,
Buffalo and Cleveland. as formerly. I do not
mean that all the supplies for these districts
are drawn from Pittsburg. but that she fur
nishes part of them. and large part at that.
This a distinct gain. few years ago our
dealers were content with supplying the local
demand.
This accession OF business has had a wonder
fully stimulating effect upon the home market,
and dealers are alive to the necessity of meet
ing the increased demand. One, and perhaps
the greatest, cause of this expansion is the
building furore. Thelike of 1t is not remembered
by the ''oldest inhaoitant." 1t pervades every
nook and corner of the country. Everybody is
building, is going to build, or wants to build,
from millionaire to day laborer. This Is the
best evidence that could be produced of the
prosperous condition of the country. and Of
Pittsburg in particular.
1t takes a great deal of lumber to supply this
demand, and if there shall be any shortage. as
seems probable from the inability of loggers to
market their product on account Of the absence
of snow, an advance in prices must follow. l
understand that several saw mills in the Penn
yIvania lumber regions have already shut
down for lack of material to work on. The
open winter may have benefited some indus
tries, but it has been hard on timbermen, and
will cause builders to increase their estimates
next season. OF this have no doubt
Stocks in the hands of local dealers are not
large but SUFFICIENT until the roads dry up so
that hauling can be resumed. Orders are very
firm for all good stuff, and not much else is
used in this market. PitIsburg people are very
particular about the kind of lumber used in
their houses. They want the best.
LUMBER DEALER.
go
The Supreme Court of Louisiana has de-
cided that an electric light company must pay
damages for the death of an employe who lost
his life in the discharge of his duty to the COM
pany. The court held in effect that the busi-
ness of generating and supplying electricity for
lighting and power involves operations that are
highly dangerous to life. 1t then becomes nee
essary for the employer in such case to instruct
his employe in regard to the danger to which
he is exposed. An employe having, in obedi-
ence to orders from his employer, encountered
this hidden danger and thereby lost his life is
presumed to have trusted to the superior
knowledge of his employer and lost his life in
the performance of an allotted duty of whose
danger he was unaware. In absence of any
proof that the employer had instructed and
warned his servant in the premises the former
becomes liable for damages.
The same question will soon come before the
New York courts for determination, and it is
thought by good lawyers that the ruling will
be the same as in Louisiana.
Henry Clews & Co. say Of the financial situa-
tion: money rates have ruled rather frmer
New England has drawn upon us quite freely,
but this demand appears to have been satisfied.
At the West money is comparatively easy, col
lections are fairly satisfactory, and the South
is apparently well supplied with funds. The
condition of the Bank of England continues to
improve, having gained f957. 900 bullion during
the past week, and raising the proportion of re-
serve to liabilities in the same time from 4420
per cent to $3.50. As this gain has been due to
an interior movement it now seems unlikely
that the bank rate will be lowered until gold
begins 10 arrive from foreign sources. Mean
while the London money market is slightly
easier, which is important in its bearing here,
for the reason that the high rates have caused
a return of our securities to this market Dur
ing the past few weeks we have taken consider
able amounts of our own stocks which we
shall no doubt be glad to let the Britishers have
again later on at higher figures. These arrivals
have tended to depress our market, but they
also reflect the confidence with which stocks
are held here.
''The conditions are in many respects favora-
Bile to higher prices, only there is lack of
speculative spirit The bulls have neither or
ganization nor leaders, and the bears meet
with no opposition, except public confidence in
the future One serious drawback is the in
elasticity of our currency. which, now that the
country's trade is undergoing such expansion,
is felt all the more keenly. Itcan hardly be
hoped that Congress will afford any radical re-
lief this season: still, there are two points at
least on which it could easily make concessions.
First, to permit the national banks to issue cir
culation up to the par value of the Govern
ment bonds, and next to repeal the tax of 10
per cent upon State bank circulation, put on
during the war to force banks into the national
system"