Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-12
ANOTHER SYNDICATE.
One Formed to Buy Up Business
Property on the Northside.
EAST OHIO STREET SPOTTED.
Cheap Fares Likely to Cause Grand hush
to the East End Suburbs.
UNCLE SAM LEADS IN LIFE INSURANCE

There is promise of lively times in real
estate in Allegheny City. Information OF
q reliable nature was obtained yesterday
that syndicate of Northside capitalists
has been formed to buy up business prop
erty in the best locations, but principally
on East Ohio street. between Madison and
Chestnut. The syndicate is young, having
but recently got down to work, but it con-
tains some good material, and will do deal OF
hustling within the next few months.
So TAR as the informant knew, only one or two
small purchases had been made, but offers are
out for several large properties at s4OO to soOO
foot front.
The principal event I'M zeal estate yester-
day was the sale by e. H. Love of the ]. M.
Hoeh residence property fronting on Schenley
PARK and Joncaire street. containing six acres,
for IS, GOO an acre, the purchaser being Robert
Ireland.
1t is his intention to at once erect several
handsome houses on the property. He has an
architect now in the East looking up something
different from anything now in the city.
There will be rush for the suburbs in few
weeks. Low fares on the traction roads have
brought attractions to view in the rural
houses ITO let" shows that the demand is
greater than the supply. Many who had set
their affections on the country will be disap-
pointed but the outward movement will be
large. This will stimulate activity in real
estate, as many who will go as renters will
remain as proprietors. Rapid transit is doing
wonders in peopling the vacant places around
the city, and will do still more when fully
developed.
petroleum specialist says: 'Tn spite of the
temporary influx of new oil, the situation byn
means presents features indicative of a radical
change in the position of the commodity. Even
il stocks are reduced at the rate of only 100000
barrels per month, this steady movement will
prevent any severe depression in values. Un-
less unexpected richness is developed by the
pools in which the producers are now actively
working the rate of output will be utterly in
adequate to meet the demands Of the maxi
mum consumptive months of the year. The
downward movement of values will in itself
tend to restrain the activity of the producers.
Perhaps the lesson of the winter may stimulate
them to perfect plans for regulating the yield,
for which there is now practically only one
buyer and consumer"
A good feature of the real estate market is
the increasing interest which is being taken in
it by the shrewdest of our capitalists-men who
always look carefully before they leap. If it
had any weak spots they would surely find
them. That they consider the market sound,
and are willing to put their money in it, should
disabuse the public of all fears of reaction.
There can be no reaction under such circum-
stances. There is no interest in Pittsburg that
is on better footing than real estate.
The price paid by Mr. T. d. Messler for his
recently acquired Smithheld street property,
81 s12 so a foot 'front.' was the subject of consid-
cradle talk on Fourth avenue yesterday. No
one regarded it as extravagant, while many
thought It quite reasonable, considering the
location is one of the best in the city. The sale
serves good purpose In demonstrating the
fact that good business property in Pittsburg
is obtainable at figure which makes it q desir-
able investment
Eastern jobbers of drygoods report a marked
increase in the demand for spring-wear goods.
particularly prints, ginghams, domestics and
woolen dress goods. Agents have profited by
an improved demand from interior markets for
reassorting supplies of spring specialties.
Prices of cotton goods retain all their old firm
ness, and some makes. notably Southern sheet
ings, tend higher on reduced production.
The largest business on record in print cloths
ly maintained throughout Woolen goods
prices do not change. Foreign goods have
shared the improved tone of the general mar
keI.
The marvellous growth Of the life insurance
business in this country is shown by these
figures. In 1860 the total amount of life insur-
ances in the world was S1l95. 900 0O9 This was
divided as follows: Great Britain and Ireland,
$3.50 600 COO; Continent of Europe, s16s 600 600;
United States. s177 OOO. 600 The total in 1880
was S. l53 100000, of which 81 100, 100000 was in
Great Britain and Ireland 81 2Sl, 100000 in the
Continent of Europe and 81, ,594, 100000 in the
United States. In the next six years the
amount in force increased to 81. 255 000 900, and
Great Britain had 81. 800 zoo, 900; the Continent
of Europe. s2,o4O Don. 200; the United States,
$780, 600 600, and Canada and Australia, $685..
100000
In 1889 the total amount of life insurance in
force in the Unised States had reached the
stupendous sum of s., 500, ,OOO, 600. There is now
more new life insurance issued in the United
States than in all the rest of the world.