Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-27
TWO MORE BIG DEALS.
Forty Feet Front on smithheld Street Sold
for $50, OOO-ThOmas d. Messler the
Purchaser-Saturday's Clos.



Purchaser-Saturday's Clos.
ing Prices on Change.
Better weather and better roads contrib
uted to make business quite brisk last week,
and the volume of trading was not only
heavy for the season, but largely in excess
of the same time last year, when it was
thought bv some to have reached high-water
mark. People who entertained this view
are now ready enough to acknowledge their
mistake, and to admit that almost anything
in the way of business expansion is possible
in Pittsburg.
Easy money favors further development,
and the prospect is that the present activity
will not only be maintained, but that it will in
crease as the spring trade approaches.
OF numerous transactions in real estate that
came to the surface Saturday, the most i'm
portant was the sale of Nos. AL and 4l3 Smith
field street. lot 40x60, on which are two store
rooms, occupied by James B. Youngson and
others, for $4,000 The purchaser is under
stood to be Thomas D. Messler. One of the
four heirs lives in Cleveland. and has not yet
signed the deed. but it is thought there will be
no difficulty on that score, as the price is sup
posed to meet his views.
The same property was sold by Black & Baird
in connection with Henry A. Weaver & Co., less
than a month ago for $4,000 but this the Cleve-
land heir refused to ratify. on the ground that
the price was too low. The present sale was
made after consultation with him, and that he
will confirm it there is no reasonable doubt. 1t
being understood that the final deal was made
by the firm first mentioned above, Mr.. d. z.
Black was first asked for statement, but had
nothing to say except to express surprise that
the news had spread so soon. Other gentlemen
were then visited and the above facts obtained
They are reliable.
The buildings are under a three years lease
at an annual rental of 1000, at the expiration
of which time, it is said, they will be torn down
by the purchaser and fine business block
erected in their stead.
A tract Of land in the Squirrel Hill district
was sold for $57, 900. Hand money was paid, but
the title will not pass until tomorrow or Tues
day. Until then both seller and buyer desire to
remain in the background. The purchase was
for speculation.
Considerable anxiety is expressed as to
whether there will be a material advance
in rents this season. On this subject Mr.. G.
II. Love said: I'm favored localities rents are
higher than last year. Houses convenient to
the business portion of the city will bring more
money than they did last year. In the outer
districts there is very little change" A men,
ber of W. A. Heron & Sons remarked: Rents
are about the same as last year for the great
majority of dwelling houses. In cases where
long leases expire the advance corresponds to
the enhanced value of the properties. Take it
all through, dwelling houses are renting for
about the same as last year."
A member of the firm Of Black Baird said
the demand for small and medium-sized dwell
ings was enormous but that as a general thing
rents were about the same as last year, ad-
vances being confined to favored localities.
A London special to Wall street firm says:
Nothing has been published here in regard to
the report that the Bank of England has re-
Gently been heavy purchaser of silver bullion
andis contemplating the issue of pound notes
redeemable in silver as soon as the necessary
authority can be obtained. Careful inquiries
in financial circles resulted in showing that
few had heard the report. and they were in
credulous as to It's accuracy.
Neither the Bank of England nor any other
bank in England could issue pound notes with
out special authority to that end by act of Par
lament. 1t was considered doubtful whether
so.coDservative an institution as the Bank of
England would be making preparations for so
radical departure from its previous history
before definite authority had been secured.
The stock market Saturday was about the
dullest of the week. Captain Barbour did his
best to warm the boys up, but not being in
trading mood, they refused to respond to his
appeals 1t seems to be a contest between buy
ers and sellers as to which side can hold out the
longest and the chances seem to be about even.
The high prices realized at the recent auction
sales frightened good many people, and they
are afraid to bid lest prices be run up on them.
This is seen in the absence Of figures on bank
shares
There were no important changes in quota
tions. CHARTERS and Wheeling Gas were a
fraction weaker and Philadelphia a little
frmer The fractions showed no change, but
the undertone was weak. Electric was shade
lower, Luster and Switch and Signal developed
more strength, but nobody wanted them very
badly. Sales were 60 shares; for the week,
l.l08; previous week, 3, 1886 The market closed
dull and dropping,