Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-04
Chats on Real Estate Which Should
Encourage the Despondent.
OUTSIDE BUILDERS COMING In
Stocks Develop More Strength, But Oil
Still Down in the Mouth.
THE NEWS AND GOSSIP OF THE CITY

From all sides come compla nts of 6
scarcity of tenement houses. Building i.
active, but it falls far short of the demand
To supply this want is problem for home
capitalists to solve, and the sooner they gel
to work at it the better for the city. 1t is
doubtful if they can find more profitable
employment for their money-certain none
thar is safer. The field is still open to them,
but if they hesitate much longer it may be
taken up by outsiders, who are already NOV
ing in this direction. 1t is understood that
building company at Columbus, O., has
closed contract for a block Of about 100
houses at Charleroi, to be finished in 80 days.
The company operates under the Carskadon
patent. 1t will turn its attention to Pittsburg
when through at Charleroi. At least that is
the talk.
Talking about the outlook for real estate yes.
terday, MIR. J. E. Glass expressed the opinion
| that the market is in its infancy-strong on its
feet for a STRIPPING. but just beginning to
| grow. He took the position, which is perfectly
| sound, that Pittsburg possesses SO many man.
ufacturing and commercial advantages that
her prosperity is assured for all time. As
growth and business increase. people will be
forced more and more to build homes in the out
the market With this prospect in view it Is
folly to talk about reaction. There is no more
reason to apprehend decline in P1ttsburg
realty than there is 3 reputation of Govern
ment bonds.
Acreage is being absorbed quite rapidly. cut
fortunately there is enough of it to give home
sites to several millions of people, and there is
no danger Of a famine nor that prices will get
beyond reasonable bounds. A full supply of
building lots being assured, public attention
should be directed to ways and means for
furnishing an adequate supply of houses to
accommodate all who want to locate in and
enjoy the great prosperity of this community
Stock md Grain Gossip.
Some interesting features were developed in
Wall street and Chicago speculative circles
yesterday which are set forth in the following
communication to W. w. Vensel, LIS Fourth
avenue:
We have had a weak market from the open
ing to the close to-day. the final prices being
the lowest, and the feeling has been more de-
moralized than we have seen 1t during the late
unsatisfactory market. There is no use fight
ing against the present condition of affairs; the
trading world is bearishly inclined SO we will
probably have lower prices. There were no de-
velopments which should have hurt prices, st.
Paul publishing good earnings, aid ID oney, in
spite of the heavy payments which will have to
be made under the tariff bill by to-nlorrow's
close was in fairly good supply at from to
per cent. The bears are IN control and seem to
be having their way, and under these circum-
stances we have not the spunk to advise our
friends to buy stocks, although we believe
them cheap.
At Chicago all speculative articles were ex-
ceptionally dull to-day. There seems to be a
disposition on the part of some of our best
traders to buy whenever the price Of wheat
drops under 81 and think they have &C.
cumulated large lines. and some day
or other the shorts will wake up
with large loss staring them in the face.
Gables are firm, and as there Is no long wheat
for sale it looks as though the attempts to sus-
tain prices are general. We think it dangerous
be short at present prices, for awhile at least
Provisions are somewhat inactive. Large
stocks at hand and abroad are the weak feat
ures, while the high price of corn and oats is
the bull card.
News of the Street.
The Citizens Traction Company will soon
have its Sharpsburg line in operation. The
river there will be crossed by the old bridge,
which will he strengthened.
Property near Schenley Park is very firm.
An offer of soc. 900 was recently made for a
piece tt at cost So. 900 less than two years ago
]. F. Stark yesterday sold so shares of Phlla-
delphia Gas Company stock at 80.
The following is the treasurer's report of the
condition of the Pittsburg Petroleum. Stock
and Metal Exchange, September 80, 1889. As
sets: Real estate, Sl50, 600; Germania Savings
Bank investment account, 5,9S7 20; furniture
and fixtures. S3.443 40; Keystone Bank. $4,000;
Clearing House, S9S; library. Sll, $50; Fort Pitt
National Bank treasurer's balance s. S07 81;
Johnston & Tressel SIS. Liabilities $751; go 81;
cash on hand, about Sl5, 600.
East End and Oakland, along with all other
districts in and around Pittsburg are suffering
from scarcity of houses.
There is big demand for cheap lots by work
ing people.
OF As mortgages received by the Recorder
19 were for purchase money.
The most important was for Sl1 1855 Fourteen
were for less than 81. 600 each.
Marseal Harrah yesterday sold farm of 1873
acres in Westmoreand county. The property
belonged to George Brown, and was sold on a
held by the Mutual Lie Insurance
Company of New York. The amount against
the property was 81 800, and it was Knocked
down to the plaintiff for Sill.
Word comes from Tucson. Ariz.. that Lemuel
and George Westinghouse have
bought silver mine near that city, for which
they paid $4,000.
Mr. A c. Robinson has formed life part
nership with young lady. His many friends
him and hope he has made good
investment