Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-19
MONEYED MEN TALK.
One of Them Deplores the Scarcity OF
Stores and Warehouses.
THE ACTIVITY IN REAL ESTATE
Attributed by Another to Confidence in 1t
as an Investment.
SAVING WHERE 1T WILL DO MOST GOOD

| A local firm, with plenty of capital and
energy, is looking for place in which to
start whip manufactory. One of the men,
bers said yesterday: "We thought of leas-
ing the Arbuthnot building on Liberty
street, but Roberts, the paper man, got
ahead of us. There is no other vacant stand
that would suit Scarcity of stores and
warehouses is sending great deal of busi-
ness away from Pittsburg.
Have Confidence in Realty.
In speaking OF the amount Of property
changing hands, a well-known real estate
dealer yesterday said: 81 have been watch
ing the matter very closely for some time,
and can only account for the continued
activity of the market In this way: People
who are not in business and have their
savings in bank are drawing them out and
investing in something that they know is
substantial. Real estate, they reason,
may be purchased at high figure and drop
back a trifie, but it regains and needs no
watching, and is always there when you
want it." The number of lots selling in
the various plans shows an activity unusual
at this time of year, and very clearly indi-
Gates the presence of new element
1t is well-known fact that Lawrence
vile and Southside people are putting the
bulk of their savings into lands and houses
Hotel Venture.
T. O'Leary, Jr., is having plans pre-
pared for snug little hotel on Homewood
avenue. East End. 1t will have more
glass surface to the square yard than any
other building in the city. Mr.. O'Leary
wants light and is bound to have it. j. w.
Oferman is the architect.
A Lucky Man.
A gentleman of prominence in the chess
world, and otherwise, bought a piece Of
property on Penn avenue, in the Garrison
alley district, few years ago, when that
quarter was as lifeless as dried herring.
He sold out a short time ago at profit of
5000. One of his friends said: "He is
one of the luckiest men I know Of If he
fell into the river he wouldn't get wet !"
Truth Well Spoken.
A real estate broker remarked yesterday:
'I must confess that the Pittsburg news
papers have been of great benefit to us in
our business. They have kept the subject
before the people until the entire COM
munity has become interested There is
nothing so much talked about as realty.
The result of this has been to stimulate
proprietors who, but for this valuable aid,
would still be renters. This is good work
and we appreciate it. !"
business News and Gossip.
A well-informed gentleman said yesterday
that he had been told the Adams Ex-
press Company was behind Mr.. Rowand in
f1a Thn 10
has been confirmed by the Government.
The real estate owned by the Pennsylvania
Company at and between Pitts
burg and New York could not be purchased
at the aggregate value of its capital stock at
par.
Dallas and Homewood have been promised
rapid transit facilities before the end of
next year.
Coal and Iron Company bonds maturing
next January have been extended for five
years ut per cent interest. This will re-
luce fixed charges s33, 900 year.
The Knoxville Land Improvement Com
pany has sold to Caroline Rehbect a lot
,0S 100, with two-story brick dwelling, on
Jocunda street Knoxville, for $i,750.
The DISPATCH is indebted to Robert J. |
Stoney, Jr, for a copy of his compendium
of Pittsburg national bank returns. 1t is of
great value to all business people.
Two permits for new buildings were is
d
and mansard dwelling on Louise |
street. Fourteenth ward to cost 81 600, and |
the other to Samuel Sweeney, for two frame |
.wo-story dwellings, on Montpzuma street, |
twenty first ward, to cost SO, 600.
Allegheny county has 3S national banks, of |
which p are in Pittsburg, in Allegheny, |
each in Braddock and McKeesport, and l |
each in Sewickley. Tarentum and Home |
stead. The total capital is SO, ,625, 900. De- |
Dosits approximate S45,O00,0O0. |
The next important event in real estate |
will be the auction sale of the Christ Church |
under the direction of W. A. Her |
ron & Sons.
Business men of Irwin have taken steps to |
establish national bank in that place.
Mr.. James w. Drape, who had been con- |
1ned to his home with an attack of the grip |
md neuralgia, has recovered sufficiently to |
warrant his being at his office yesterday.
Movements in Realty.
J. E. Glass sold for 1. H. Aaron five lots on |
Mt. Washington, each 2OxlOO feet. for l,75O.
A. J. Pentecost sold lot No go in his Valley |
7iew plan, CHARTERS Valley Railway, with a |
,ne-story frame dwelling, FOR $375
James w. Drape & Co. sold q small prop
,rty in Williamsburg for 81, 500 cash: also an
East End residence property for $1,000; also
ZACH: also three lots in Munhall Terrace,
,ear Homestead, at from $3.50 to $3.50 each.
Black 4 Baird sold for Patrick Mullins to
Tana.s Hardie lot No. q in the Sawyer plan,
ronting 20 feet on Brook street, Oakland, by
90 feet in depth, for $50 cash.
S. A. Dickie & Co. sold for James Searight
o W. u Markell. property on Margaretta
treet, lot 3Ox1l0 feet, with two-story and
.ttic frame dwelling, at S.. 100.
W. A. Heron & Sons sold lot 20 feet front
N Arch street 10y leo feet to another street.
econd ward, Allegheny, for $1,000. The
will improve this lot soon.
SOME IMPROVEMENT