Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-09
Difference Between a Boom and Sales
for the Use of Purchasers.
FACTS ABOUT BIRTHSTONE CORNER.
Not Enough Vitality in Speculative Circles
} to Sustain Values.
OFFICE AND STREET NEWS AND GOSSIP


within reach was bought up. Subdivisions
were opened miles out on the open prairie.
OF course the land has been held for a risk
that has so far failed to materialize and the
result is that holders are getting anxious for
market. The fact is, he continued, "Chi-
cago has been largely oversold, as is shown
by the falling off in sales for use, and also
largely overbuilt, as is demonstrated by the
large number of vacant houses in every
quarter of the city, but especially in the
suburbs
The contrast between Chicago and Pitts
burg in this respect is most striking. Specu-
lation cuts so small figure here as to De
the sales are for the use of purchasers; ana
as to building, there are not enough to mouse
the people. With these strong factors un-
derlying and sustaining the market, the DAY
is far distant when Pittsburg real estate Will
be dead stock or houses go a-begglng 1or
tenants.
Not in the Market.
A year ago there was considerable talk of
the prospective sale of the NJ Z. Church prop
erty (Brimstone corner), Smithfield street
and Seventh avenue, and there was some
ground for it in the shape of q 100000 offer.
The congregation, however, refused to en-
tertain the proposition, and the matter was
allowed to subside. short time ago the
offer was repeated, with the same result
To find out just how the congregation felt
in regard to the question, an official member
of the church was hunted up yesterday and
briefly interviewed. He said, in substance:
"You may say that we have no idea of sell
ing the property. A year or two ago q
minority of the congregation Thought 1t
would be a good move to sell and build
further out, where there was less noise.
But there has been change of sentiment
since then. There is need Of a central Meth
odist church in this city. Christ 1 Churcn, hu en-
built on the old site. This leaves the Smith
field street church the only one of our de-
nomination to serve large class of tran
sients, as well as citizens ina large down.
town district. So you see the reasons for
our remaining where we are are stronger
than ever. No, we have no idea of selling"
The gentleman added that, as 1t was now
the representative Methodist Episcopal
Church in the business part of the city, the
present building would probably be taken
down within year or two and larger and
finer one in every way erected In It's
stead-one that will be the equal architect
uraIly of any church edifce in the city.
A Big Thing On Paper.
A gigantic scheme is on foot at st. Paul,
Mimi, in the building line. Architect c. A.
Reed is perfecting the plans for an immense
arcade building extending three squares,
from Robert to Wabasha streets, to be erected
by a syndicate of capitalists at a cost of from
100000 to sS,00o,OOO Besides the arcade
and across two streets by bridge, three
square row of storeswill face on Sixth street.
Business News and Gossip.
The question of selling Birthstone corner
may be considered settled in the negative.
The price of anthracite coal at Chicago
has been advanced Is cents per ton.
Saturday was a bad day for outdoor auc-
ton sales, but from the number of lots dis
posed of the demand seems to be on the in
crease.
The dividend on Sugar will probably be 8
aor 81 per cent.
Grant street is in good condition for a
bulge. A business block on the corner op-
posite the st. Nicholas would be a good
starter. There is talk of it,
The impression largely prevails that the
Messrs. Kaufman propose to raze the Cen
tral Hotel and erect a new building at once.
This will not be done for several years, If at
all. 1t is more probable that it will be built
up and remode led
At the last call yesterday Birmingham
Traction was offered at 2l1s, and Duquesne
at Is.
the last call and finished a fraction better
than the lowest. A few buying orders would
put it up.
promoters of the Eclipse Coal Company, of
this city. .
Pork packers report decided improve
ment in cash demand, and shipments the
past few days fully bear out the statement.
National bank circulation outstanding,
S16s, ,63s OILS; circulation issued last week. 1868,
TO- amount destroyed, 81, ,4s3, ,504
The Building Record.
Permits for the erection of the following
buildings were issued yesterday:
John Dando, frame two-story dwelling,
l6x32 feet, Patterson street, Twenty-seventh
ward. Cost $3.50.
John Dietrich, frame two-story dwelling,
I7x32 feet, Taylor street, Sixteenth ward.
w. Schlingman, brick one-story store PAX
40 feet Carron street, Twenty-sixth ward.
Cost 5000
Joe Perry, frame two-story dwelling, l6x3s
feet, Forward street, Twenty-second ward.
Cost $9lS.
Herman Lewton, one-story frame addition
kitchen, 9xl4 feet, rear of Locust street,
Thirteenth ward. Cost $780,
Mary Walker. one-story frame addition
dwelling, 12x14 feet, on Julius street, Twenty
first ward. Cost 500.
Chris Nagel, frame two-story dwelling Tx
il feet, Brownsville street, Twenty-seventh
ward. Cost $500.
+ George Keilar, two frame two-story dwell
ings, 12x32 feet, on Monongahela street,
TWenty-third ward. Cost $780,
john Luver, frame two-story dwelling,
I7xaa feet on McCandless street, Eighteenth
ward. Cost $500.
Eugune Ritter, frame two-story dwelling,
17x9s feet,on Magnolia street, t,Twenty-seventh
ward Cost 81, 800.
Louis Debtz, brick two-story dwelling,
l6x32 feet, l47 Spring alley, Tenth ward. Cost
81, 500
J. j. Culton, iron clad one-story machine
shop, l04xl6S feet, on Fifty-fourth street.
Eighteenth.ward. Costs 900.
Movements in Realty.
Reed B. Coyle & Co. sold lot No. 1877 in their
Marion place addition, being SO feet front
on Barnell street and extending back an
average depth of 16O feet, for $4OO, on easy
payments.
Black & Baird, sold to James Little, Jr,
lots Nos II, y and 70 in the Alta Land Com
pany plan, Duquesne Heights, for $500 cash;
also sold to l.. F. Lewis in the same plan, lot
No. l43 for $25 90: also to George E. Brush, in
the same plan, lost ITO for 500
C. T. Beeckman, agent of the Larimer Land
Improvement Company, reports sales of
10000 worth of lots at West Irwin on Satur-
dav Notwithstanding q severe rainstorm.
Black Baird report sales in Ellwood to
ID. G. Coffee, of lot No. S57 for $500; to j. C.
Nosky, lot s52 for $500: to H. Seider, lot s5l for
$500; to H p. Hartly, lot $50 for $500; to j. c.
SIMPSON an unnuinbered lot for $40O; and to
4. De Arnit, lot 932 for $780,
w A. Heron & Sons sold house No. 142
Plymouth street, a brick house, eight rooms
modern improvements, for $2,4O0; small
cash payment down and the remainder in
monthly installments of SIS.