Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-17
ONE MORE RECRUIT.
A Boston Man Looking Up a Manufac-
turing Site in Pittsburg.
NATURAL GAS ATTRACTS HIM.
Business That is Not Transacted on Strictly
Business Principles.
A CUSTOM THAT SHOULD BIZ ABOLISHED

A Boston capitalist has been in the city
since Sunday looking for a site for large
steel plant. He was In consultation with
Messrs. Straub & Morris yesterday. and ex-
amined several properties, one of which, in
the upper part of the city, impressed him
very favorablv. He wants site with build
ings which can be easily adapted to his pur-
poses.
This is further evidence of the fact that
outside manufacturers are unable to COM
pete with Pittsburg, owing to her unequaled
advantages, chief among which, of course.
is natural gas. A Wood street banker is said
to be interested in this enterprise.
As a general thing, business is transacted in
Pittsburg on business principles. There is
very little friction In no city in the Union is
business better understood or more skllfully
conducted. Still there is one weak spot, which
is all the more conspicuous because of being
the solitary exception to the general rule. 1t
affects two of the leading interests of the city.
and leads to frequent unpleasant complica-
tions.
To Illustrate: When an investor takes a
notion TO buy stocks-say 100 or 500 shares of
Pleasant Valley-he goes to q broker and asks
HIM if he can fill the order. If unable to do so
at once. he is directed to 60 on the market and
purchase what is wanted. Instead of stopping
at this point as he should. after leaving his
order, the investor visits, perhaps, half a dozen
other brokers and leaves the same order with
each of them. What is the result7 The brokers,
anxious to earn the commission, go on the
floor of the Exchange, and, without knowing it,
bid prices up on each other on the same order.
This is not only unjust to the brokers, but it
compels the investor to pay more for the stock.
Ii he would place his order with one broker,
and one only, he would accomplish his purpose
without involving half dozen others In
trouble. with loss of time. and without moving
the market. This course would greatly
simplify business and make it easier for all
concerned,
The same pernicious practice attains to a
considerable extent in real estate, and that it
leads to unple asant consequences several Incl
dents OF recent occurrence abundantly prove
An owner, anxious to realize, places his prop
erty In the hands of several agents for disposal.
They are aware of this, and each exerts him.
self to get ahead of the other. Confusion fol-
lows. Different parties make their bids. and it
occasionally happens that two agents find GUS
toners about the same time. and each effects
sale. This has happened three times within
the last few months. Complications ensue.
Both purchasers claim the property, agents
have to bring suit for their commission and all
unite in ripping up the owner for giving occa-
sion for the muddle. If the owner had put his
business in the hands of one responsible agent
all trouble would have been avoided, and one
agent would have found a customer sooner
than many, for the commission a large
transaction is of sufficient Importance to justi-
fly him in devoting time and close attention to
it, The sooner owners recognize this fact the
better for them.
These considerations lead to the inevitable
conclusion that real estate exchange is neces-
sary to the proper and harmonious handling of
property in this city. 1t would at once abolish
the dual order system, and by bringing sellers,
buyers ard agents together would enable each
to act understandingly. There would be no
friction, no conflict. no rate cutting but every
thing would be open and aboye-board. Be-
Sides it would strengthen confidence, and this
in turn would stimulate business.
Whitney q Stephenson received the follow
ing from their Wall street correspondent: The
news from the West is decidedly conflicting,
but those whose Information on the subject is
most reliable say that within a few days the ex-
isting difficulties among the Western railroads
will be overcome, and that restoration of all
rates. both on passenger and freight business,
will be the outcome.
One of the members of the Governing Com
mittee pointed out the fact last night that sill
yer in this country is worth dollar an ounce
and is 600 nne or as near pure as the metal
can possibly be- In London silver is worth but
45d per ounce and is only 925 fine. Conse-
quently dollar there would only be worth
about IS cents. whereas here. computed on the
basis of 1000 fine. it would be worth 1862 cents
per pound. There is still plenty of chance for
imitation as shown by the foregoing.
According to the Cammack-Jones party the
market Is likely to be feverish for few days.
and they say that if the present favorable ru-
NOR does not culminate in anything tangible
sharp decline may be looked for to follow the