Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-30
TWO MORE BIG DEALS.
Fifty Thousand Dollars Paid for
Property on Penn Avenue.
A FORTY ACRE FARM PICKED UP.
Call for Meeting of Stockholders Of the
San Carlos Silver Mine.
LEADING PITTsBURGERs INTERESTED

There was an active movement in real
estate yesterday, especially for large
properties, but only two important trans
actions developed sufficiently to warrant
publication. Messrs. Black & Baird closed
a sale of Penn avenue property, near Ninth
street, at a figure closely appro1imatlng
$50. 900. The purchaser is a prominent
business man, who requested that his name
be withheld for day or two.
Papers were signed and deposit made
yesterday to bind the sale of 40 acres Of the
Duff farm, back of Dixmont, to Messrs
Wood, Harmon & Co., whose headquarters
are in Cincinnati, but are at present repre-
sented in Pittsburg. The price paid was
variously stated at from $40, 900 to $50, 600.
They will subdivde the tract and put it on the
market. This is the deal vaguely referred to
in THE DISPATCH a week or so ago.
About a year ago number of Pittsburg gen
tlemen, among whom may be mentioned
Charles Seibert cashier of the German Savings
Bank; John P. Ober, s. A. Johnston, attorney;
August Beclxert, James Forse, Matt Weiss and
Straub & Norris purchased an interest In the
San Carlos silver mine in the State of Chihua-
hua, Mexico, and in order to satisfy themselves
connection with Prof. Stetefeldt, an eminent
mining and metallurgical engineer, to thor
oughly investigate the plant
The committee was absent about seven
weeks, and upon returning to Pittsburg MADE
report confirming all the representations that
had been made concerning the mine, the
value of which, it is stated, consists in the I'M
mense quantity of ore, its accessibility and the
economy with which it can be handled. The
IL yRaTN
be prosecuted continuously summer and win
ter. Working tests of the ore by Prof Stete-
feldt and by Prof. Newberry, President of the
School of Mines, Columbia College, and con-
firmed few days ago by Messrs. Hart & Clapp,
leave no room to doubt that the property is
very valuable. Over $50, 900 has been expended
in sinking shafts and laying bare the ore.
Now that the enterprise has reached that
stage of development which make it necessary
to erect a mill and proceed to work in
methodical manner, it has been decided to call
meeting of the Pittsburg stockholders and
capitalists Wednesday afternoon next, at
the Chamber Of Commerce, to devise ways and
means to develop the property.
Last week will not go into history as boomer
of business. Many depressing influences were
at work, both locally and generally. The
weather shifted from bad to worse and fur
nished liberal supplies of rain, snow, sleet and
mud. To many people there was mo place like
home" and as a general thing only matters OF
an imperative nature were attended to, the rest
being relega:ed to a more auspicious season.
When to these drawbacks are added a number
of destructive fires in different parts OF the
country, the catastrophe at Louisville and other
places south and west, the wonder is that busi-
ness made as good showing as it did.
PlNssburg almost held her own, as compared
with the previous weeks of the year, and as the
bank clearings show. came out nearly 81, 100000
ahead of the corresponding time in 1889. This
was a great achievement under the circum-
stances, and shows conolusively that her prosper
ity rests a solid basis. and is not easily af-
fected
Local securities were fairly active. Liquida-
tion the rule, but in the face of this several
of the specialties showed gains at the close. and
the feeling throughout was better. Petroleum
was dull and active by spells, according to the
tenor Of the news from the various fields, but
was weak throughout, Notwithstanding few
spasmodic rallies and closed lAc lower
than the opening Monday. Transactions in
realty were slightly below the average, but a
large number of deals were effected. some of
them being important There was brisk in
quiry for all descriptions of property, showing
that investors are still in the market. Agents
have a large number of orders on file, some OF
them from other cities, and with the return of
good weather and settled roads, there will be
revival of activity in this important interest
The money market presented the same con-
trolling features SO often referred to during
the month. The supply was abundant and
rates steady at 697 per cent. There was no
trouble to discount gilt-edged paper at g. There
was fair demand for accommodations but de-
posting was heavy and the result of the weeks
was addition N
volume of unemployed capital. Indications of
a brisk spring trade continue encouraging but
it may be delayed somewhat by storms and bad
roads,