Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-10-11
TRADE OF THE WEEK.
The Sharp Turns Taken by the Local
Banks Criticised,
THE WEEK CLOSES WITH A SNAP
In Real Estate, as Shown by Several Good
Deals Caught on the Fly.
NEW INDUSTRIES FOR ALLEGHENY

Neither in the case of the Moorhead
McCleane Company embarrassment nor in
that of the Oliver s. Roberts Company, has
the cause been from loss to the concerns
but On account of some of the banks insist
ing on the immediate payment of notes Of
which there had been expectation of re-
newal in whole or part. While the right Of
banking institutions to protect themselves
is of course conceded, there has been not 6
little questioning in business circles as tc
the wisdom of sharp withdrawal of ac
commodations. The most reliable state.
ments in regard to both of the important
establishments named is that there could be
no question of their entire solvency, ol
that their business is profitable. The ex.
tension which was granted with perfect con.
! idence to the Moorhead-McCleane Com.
pany was based upon an exhibit of asset.
far exceeding liabilities. A similar exten-
| instance.
The Highest Figure Yet
The price $780, 600, paid for the Messle1
property on Smithfeld street during the
week represents something over $40 per
paid for Pittsburg property. 1t shows that
the trend of traffic to Smithfield street
since the opening of the new postofice is
going to have an important effect on values
in that quarter.
Another Northside Deal.
Allegheny City is to have O new manu-
featuring concern of great Importance. Yes
terday Black & Baird sold for Mrs. Janet P.
Campbell to the Pittsburg Brass Company,
the property known as No. IL Locust street,
consisting of about thre quarters of an
acre of ground and a good two-story brick
dwelling, for $25, 600.
The purchasers will Immediately begin
the erection of large building for the
manufacture OF general line of brass goods
and lamps. The entire plant will cost in the
neighborhood of $780, 900.
Bonds Looking Up.
In regard to the bond market a specialist
has this to say: "The real key to the situa-
ton is the bond market This has been
very disappointing to date, but bankers be-
lieve they see indications OF an increased
demand. When capital is sufficiently con-
fdent that the outlook fav DTS stable con Ii
tions commercially, financially and poll
tically, then it will absorb the bonds now
seeking sale, and the load that has been
hanging over the market will be lifted and
the money thus obtaind will do its work in
stimulating every interest in the country"
Brewery Property Picked Up.
1t was learned yesterday from a private
source that the Thomas Booth brewery
property, on Rebecca street, First ward,
Allegheny, had just changed ownership at
about $20,0'0 1t consists of lot l0Sxl45 and
several old buildings, which will be torn
down to make room for manufacturing
concern.
Adding to the Churches.
A permit was taken out yesterday by the
trustees of the Church of the Good Shep-
herd tEpiscopaD for a stone one-story
church edifice at the corner of Second ave-
nue. and johnson street, Twenty-thfrd ward
The depth of the main building will be GA
feet and the height of the first story 30 feet
The estimated cost is $l0,S00.
Other permits were issued to John Sherry
for a frame two-story dwelling on Gust
to J. C. Stevenson for a brick two-story
dwelling on Lytle street, to cost $500.
A New Industry.
company for the manufacture of enam-
eled bricks and tiles is about to be organized
in Pittsburg. The patentees of the enamel
ing process are G. G. and Julius A. Cohn,
the well-known Southsiders. The company
has several sites offered in the vicinity of
Pittsburg, but has not so far accepted any,
The capitalization will likely be $100, co.,
Buildings for the Week.
Building was active the past week. The
number and estimated cost of the improve
ments for which permits are issued are
shown in the following table: