Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-28
OLD AND NEW IDEAS.
Larger Opportunities for Investing
In Real Estate.
CHANCE FOR SMALL CAPITALISTS.
Speculation Shows Fresh Signs Of Getting
Out of the Well Worn Rut
OFFICE AND STREET NEWS AND GOSSIP

OFFICE AND STREET NEWS AND GOSSIP
Real estate business as a science dates
back but few years. 1t is no longer sit
ting down and waiting business. Itrequires
Judgment in selection, push in overcoming
obstacles, unity of purpose in the matter of
improvements, an outlay to attract popula-
tion, transportation in every direction, and
last, but not least, liberal amount Of ad-
vertising.
The old style-the Astor plan of building
on the inside, and buying and holding on
the outer edges-the natural growth produc-
| ing the result, is good enough for million
aires who can live on big incomes while
waiting, observes an exchange, but the mod
ern idea it to buy cheap lands which have
possibilities and by judicious improvements
bring them into line as residence districts,
manufacturing locations, or to other uses
at higher values than original cost, and it
is this modern plan which has brought the
possession of home within the reach of
the man of small means, and the profitable
| investment within the reach of men OF mod
crate capital.
The old style real estate owner did moth
ing but wait. He would not spend cent on
a on-paying property. He wanted improve
ments to push him along, others paying ex-
penses: he was of the old English plan-put
up fence and let people walk around it.
But now, suburbs away out, bought cheap
and made presentable by made roads and
grading by elegant sidewalks. induce the
home-seeker to pass the unimproved and
neglected outskirts to the districts which
combine the air of the country with the i'm
provements of the city, electricity and other
rapid travel overcoming distances.
Nie,1 &c RI ,irrf fkc hnr, r,af1-
cent influences suburbs are being con-
structed which are beautiful, healthful, sub
stantial, and in every way superior to even
the best city locations and buildings. Men
of a saving turn who put aside q little money
have opportunities they never had before,
and by buying more feet than they want to
use for the homes they construct add value
to the other ground they own, ever so little
in the way of improvement done by many
individuals all tending toward the improve
ment of the whole.
the people are indebted for many opportuni-
ties of improving their own condition.
There is hardly a city which does not now
come under its influence 1t encourages
people to own their homes, whereas the old
style discouraged anything but rent paying.
Business News and Gossip.
The Splane PROPERTY is still on the market
Said gentleman yesterday: "The reason
that it has not been sold is that the owners
ask too much for it,
The Baltimore and Ohio has bought an
other large tract of land at Cumberland, at
which point the Keyser, Piedmont and Mar
tinsburg shops will be concentrated.
1t is said negotiations by the female col
1ege people for the Singer property at Will
kinsbqrg: have been broken off
Mr.. P. Dor9n is putting another story to
his residence on Franklin street, Wilkins
burg.
Local operators report the coal trade is in
excellent condition. There is an active
movement in coal lands.
The Illinois Steel Company is said to have
earned charges and a nominal amount upon
the stock during the year.
A prominent builder has been sued for
neglecting to take out permits as requiEed
by law.
At the last call YESTERDAY Birmingham
Traction was offered at 17M with III bid,
Manchester was offered at 3s14 and 1874 was
bid for Duquesne. Citizens Traction 5s
were on the market at 10713.
Standard Plate Glass was stronger. On
call it was wanted at 25 and offered at 81.
The Northern Pacific directors yesterday
declared the regular quarterly dividend of
per cent on the preferred stock.
At the Lead Trust meeting, yesterday the
reorganization plan was adopted almost
unanimously. The capital is thus reduced
from $9o0Oo,OOo to $3O,oOo,0OQ, half of which
The Erie Railroad has made traffic ar +.
rangement with the Cleveland and Canton
whereby it obtains Cleveland outlet from
Kent, o.
London cables report harvest prospects
have become gloomy throughout England.
Mr. D. P. Black arrived home Yesterday
afternoon from Europe. He is II pounds
heavier than when he went away.
Movements in Realty.
Mr. George L. Peabody, a well known con.
tractor, has purchased S0xI5O feet at the cor
ner of Callowhill street and Euclid avenue
for about Sc, 600, upon which he will erect q
fine residence. Highland Park is drawing
card.
Reed B. Coyle & Co. sold for Mrs. Sarah A.
Stewart the property No. S4S Forty-second
street, consisting of three frame buildings
with lot 22x59 feet to Urbanna alley, for
SS COO cash.
A. J. Pentecost sold for the David Hardy
estate two acres of land in Versailles town
ship, with frame dwelling, for s1o5o.
Black & Baird sold to j. G. Simpson lots
Nos. 80, 81 and So in the Heron Hill Park
plan, Thirteenth ward Nos. 81 and So front
ing so feet on Madison avenue by 100 in
depth, and No. 80 fronting 25 feet on Webster
avenue by 100 in depth, for S1,500.
Baxter, Thompson e. Co, sold another lot,
No. 402 in the Butler plan, Eighteenth ward,
fronting 20 feet on Morningsde avenue and
extending back leo feet to Il 20-foot alley for
$500.
Peter Shields sold for the Schenley Park
Land Company to 1T, Garland, a lot 25xlOo
feet on Haldane street for $400
Straub & Morris sold to Thomas Kahill, for |
S400, lot 3C3: also to George j. Cook, Jr, for |
800, lot 2S3; also to J. D. We!ch for $780, lot
also OtOJaIlcS NlcA1ee, S3UU. lot 2S4-all
in Schenley View Place plan, Nineteenth
ward. Also fer W. L. Galbraith, to w. H.
Henderson, lot on the Ridge road, at Ingram,
for 81, coo cash.
Samuel W. Black & Co. sold three more |
lots in the Blair estate, Glenwood, Twenty
third ward, for 1900.
A. z. Byers & Co. sold for p S. and Theo. |
Huckestein to Fred. Langhorst, lot No. Sc, in |
their Spring Hill plan, Seventh ward, AL |
legheny City, fronting @ feet on Halaman |
street and extending back distance of 100 |
street to an alley, for $500 cash.
The Burrell Improvement Company re. |
ports the following sales of lots at kensing- |
ton: J. NJ. Doolittle. lots %, 26 and 81 block |
s, for 81 ,S93 cash; J. NJ Doolittle, lot 66 BLOCK
2, for $500 cash: Thomas Dugan. Pittsburp
lots 10 and 20, block 4, for $1.65O: Guisippi |
Cammarota and Guisippi Spnelli, lot 56,
block T. for Sl,0S0 cash: Mrs. Lizzie Bowie
Pittsburg. half of lot 75 block s. for 1925 81
John X. Ewing & Co. sold to John r. EW-
ing for Mrs. Kate Peifer the property No. GO
South Diamond street, Fourth ward Allie
gheny, being O two-Story frame house of |
seven rooms hall and attic with lot o3X6O |
being Schenley lease. Consideration. $500
cash.
The Building Record.
Permits were issued yesterday for the fol-
lowing Improvements:
William Ammon, frame two-story dwelling on |
Emerson street. Twentieth ward; cost 81 ooo |
George Rohe, two brick two-story and mansard
dwellings, corner of Sixth and Carson streets |
Twenty-nnt ward; cost. 50. 200. John Lauer,
frame two-story dwelling on Rewand street,
STf cost DWELLINGS so eo4er
street and Cabot way, Twenty-ninth ward:
cost. 81, 2l0. j. W. Pratt brick two-story