Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-15
People Who Think Realty is Inflated Show
How They Make Mistake.
THE NEWS AND GOSSIP OF THE CITY

tueIo year.
Slow Movement in Bonds.
The bond market is rather slow, but an i'm
provement is expected to follow the upturn IN
business generally. Andrew Caster, specialist
in this class of securities, said yesterday: so
much money has been put into real estate,
loaned on call, and otherwise tied up. that
bonds are almost drug. What demand there
is seems to be limited to the d-timers-Ashta-
bula, PANHANDLE, Junction, ana others OF that
class which have been tried Investors prefer
these to street railway bonds, Notwithstanding
they come higher. AL the bonds handled in
Pittsburg have been thoroughly examined and
found to be well secured. This should inspire
confidence in them as reliable investment"
A Strong Backing.
, Now and then a man is found who thinks
Pittsburg real estate is Inflated. Such men are
off their base. as baseballst would say. There
is no city in the country where values rest on
more enduring basis. OF course prices advance
with the growth of the city and increasing de-
mand. 1t would be strange if it were other
wlse Demand makes the market. Property in
New York is worth more than property in
a rural town because there is more demand for
it, and it can be made to yield larger return.
This is what makes property so valuable in
Pittsburg. Every lot or parcel of ground for
sale in or about the city is worth, as general
proposition all that is asked for it. because it is
this support to the market there is little danger
of a reaction.
A Chance to Invest.
Opportunities for investment are multiply
ing the latest at hand being set forth in the
prospectus of the Thurber- Whyland Company,
published in this issue of THE DISPATCH. AS
is generally known, this is one of the largest
wholesale and manufacturing groceries in the
yarll To- rba 1ofr1 rs nf
the business have been equal to per cent per
annum upon the sl,5OOOOo of preferred stock
which the successor company is about to issue,
and larger amount upon the 81. .0O0, ,COO of COM
mon stock to be issued. A reserve will be
maintained to provide for desirable extensions
of business. The firm desire to retain half
interest in the company. The risks of the busi-
ness are small, since it consists OF turning the
necessaries of life as rapidly as possible. The
conservative policy of the house will be ad-
hered to. All of the legal formalities attending
the new company have BEEN passed upon and
approved by Messrs. Evarts, Cboate and
Beaman. The subscription books will be
opened on January 10 and closed on the day
following.
Business News and Gossip.
Real estate hunters are putting in their time
saving wood, and will soon have something to
show for il.
Considerable oratorical talent was displayed
day afternoon. Among those particularly dis
tinguishing themselves were Messrs Leggatt,
Arnold and McCune. They spoke directly to
the point. A number of others demonstrated
their ability to express themselves clearly and
forcibly.
Of A mortgages on file for record yesterday
each of l6 was for less than s., 900. The largest
was for Sc 500.
1t is among the probabilities that the Dawes
Manufacturing Company will put up a $4,000
building on Liberty street. They are dickerIng
for site.
The Hooking Coal and Iron Company has de-
clared a semi-annual dividend of ~ per cent
ON the preferred stock. payable February 2
| Transfer books close January "a
Railroad earnings-NOrthern Pacific. Janu.
ary g. increased SIG, 35S. Increase to January s,
S2010S1. Baltimore and Ohio Southwestern,
| first week in January, net decrease 81, ,33l.
Tue Arsenal, Farmers and Mechanics. Lib
erty National and Peoples Bank of McKees.
port elected directors yesterday. There were
no changes. This about completes the list.
AS soon as the weather permits, surveyors
will begin plotting large tract of land short
distance below Temperanceville. 1t will be put
on the market in the spring.
The Building Record.
Two manufacturing concerns took out per.
mits yesterday-one for factory, the other for
a warehouse. This shows that business is
growing and demands more room and better
facilities. Another permit was taken out for a
high-class dwelling. The list follows:
Walworth Manufacturing Company. frame
oue-story factory. 36xl2U feet. on Second ave.
nue., Twenty.third ward. Cost, S82S.
w. F. Casey, stone and brick two-stQry dwell
ing 32x4S feet on Fifth avenue. Fourteenth
ward. Cost, 1000.
Standard Manufacturing Company, brick
three-story warehouse, 90x6S feet, on Fountain
street. Fifth ward. Cost. s5.oO0.
Movements in Realty.
Black & Baird sold to well.known rivermap
a brick dwelling on Atwood street, near Forbes,
for 5000.
A. ]. Pentecost sold for the estate of Fred.
erecka Kurzelopper, deceased, lot 50x6I,
corner of Madison avenue and First street,
Third ward, Allegheny on which is erected a
| brick and frame dwelling, for S6050
Reed B. Coyle & Co. sold property in Buena
| Vista street, Allegheny. consisting of a modern
| brick dwelling of nine rooms, with lot 2OxllO ia
ali alley. for $500. The purchaser is a well.
| known attorney.
]. T. Glass e. Co. sold for I. II. Aaron a two.
| story and attic brick residence, with triangu.
| lar shaped lot, on the corner of Boquet and
| Frazier streets, Oakland, to A. c. Watkins, fol-
| 5000
Ira NJ. Burchtield sold brick house of sis
rooms on Hazelwood avenue, Twenty-third
ward, for IS. 500 cash.
Black & Baird sold TO Mr.. Peter Lehany lot
No. IS in the John A. Roll plan, at Linden sta
tion, for s60O.
| Z. D. Wingenroth sold lot No. 35 in his plan
| of Nadine Park. fronting % feet on Poketc
| avenue and extending hack ITO feet a Osapf