Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-10-16
THE NEWSB0YS' HOME.
Plans Accepted for a Stone Structure
Three Stories High.
SUCCESS OF A NOBLE ENTERPRISE.
Features of the New Postoffice District Now
an Attractive Card.
TREND OF MONEY AND SPECULATION

| on ground donated tor that purpose by MIS-
Schenley.
Several plans were sent in to the commit
tee, all being so good that it was Difficult
matter to make choice The one selected
contemplates stone building about 100 fee
square and three stories high. 1t will re
semble in general way the Carnegie
Library building at Braddock, but will b.
handsomer. The completed structure viii
cost about $50, 600. Ground will soon bt
broken and work pushed forward as fast a
possible.
The promoters of this noble enterprise art
to be congratulated on the success which
has so far attended their efforts to provide {
home for an army of little folk to whom al
people should not only be willing bu,
anxious to extend helping hand.
A Progressive District.
Fourth avenue is the Wall street of Pitts
| burg. Its growth as a financial artery ha.
been rapid and gratifying. 1t is the center
of the banking and real estate district. The
occupancy of the new postoffice has given il
a fresh impulse, and the completion of the
big buildings that are under way and of sew.
eral others that will be erected next spring,
will give it still greater lift.
1t has been stated that the demand TO,
business property is centering in the district
bounded by Fifth avenue, Grant and Wood
| streets and the river. Of these thorough.
fares Smithfeld street and Fourth avenue
| are in most favor, and nearly all the i'm.
provements in sight in the precinct in ques,
tion relate to one or the other. Good
round prices have lately been realized on
Smithfeld, but a deal or two will probably
be concluded before long which will break
the record.
The sale of q property on Third avenue
for S27 900 was reported in this column yes.
terday. Another deal is pending IN the
same locality involving about $40, OOO This
street has always been backward, but it is
catching the progressive spirit displayed on
Fourth and Smithfeld, and promises to be
the scene of considerable activity within
the next few months.
Old and New Pittsburg.
Mr.. William Overton, a former Pitts
burger, but who has made Denver his home
for some years, was in the city yesterday.
In the course of short interview he said:
81 used to think Pittsburg a handsome
place; but find it so much improved that 1
scarcely recognize it. Many of the land
marks of nv boyhood have disappeared,
notably those on Fifth avenue and Smith
field street and Fifth and w ood, and in
their places find stately blocks that would
be credit to any city. am prouder of
my native place than ever"
There is food in this for reflection. As a
rule citizens do not appreciate Pittsburg at
its real worth, and it. is left to outsiders to
spread its fame and extol its advantages to
the manufacturer, the merchant and the
home-seeker. More local pride would be q
good thing for the city.
Business News and Gossip.
The Third avenue deal, reported yester-
day, involved S27, 900, not 81 ,OOo, as printed.
Such depreciation in values would be re-
markable.
The Financial Chronicle says of the West
inghouse Electric and Manufacturing Com
pany: GAS reorganized, the company will
be without debt. and will have cash work.
ing capital sufficient for all its purposes
when conducted on an economical basis, and
this basis has been attained by the econo.
mics which have been enforced by circum-
stances and by a careful consideration of the
future needs of the company"
The Norwalk Savings Bank is a new ven
ture at Norwalk, o. The capital is 500, 600.
The Edison people expect to occupy the
building in course of erection at the corner
of Wood and Diamond streets about Noyem-
Der 15.
The Building Inspector has had an easv
time this week. Only three permits were
issued yesterday, all for small improve
ments, the total cost being estimated at
s., 030
At the last call yesterday 1857 was bid
for Citizens Traction 5s. They were offered
at 1867.
The National Cordage Company has ad-
| vanced the price of its product 10 per cent.
1t is probable S. V. White s. Co. will set
tie on the basis of so cents on the dollar.
Rea Bros. & Co. are settling with their
creditors and hope to resume in short
time.
At Buenos Ayres gold is quoted at $50 per
cent premium.
Lincoln school bonds are now on the mar
ket at par and interest.
The j. C. Russell Shovel Company was
chartered at Harrisburg yesterday. The in =
corporators are: James c. Russell, John ].
Mckee and n r. Snyder, of Pittsburg;
Albert c. Wettengell, of CHARTERS town
ship, and Alexander Morrison, of Beaver
Falls. The capital stock is $50, ,00O
The Watsontown Bridge Company, of
Northumberland county. capital stock
s., 900, has secured charter.
Movements in Realty.
A. J. Pentecost sold for Charles R.
Weitershausen and Philip Richter, execu-
tors of the estate of Catharine Richter, de-
ceased, lot of ground on Perry street, AL
legheny City, 33x15O with a brick and frame
dwelling, for Sc, 900.
Ira NJ Burchfield sold another lot in the
Oliver terrace plan to Stephen w. Tener, for
81, 800 1t adjoins the one previously pur-
chased by him, on which he is erecting a
fine residence.
John K Ewing & Co. yesterday offered
for sale at auction the property No ia
Taggart street, and withdrew it at bid of
So, S75 until further notice.
Denniston, Elderkin & Co., Linn, report
the following sales: For w. II. Denniston
to Mrs. Bulah Armstrong a lot on Rem
frew street. East End, corner of Xenia
alley, 35x100, with frame house of five
rooms, for 81, 100 on easy payments; also for
Caroline Heasly toi lanes Brawdy lot on
Inwood street, Twenty-frst ward, East End,
with a two-story frame house of five rooms,
for s., COO, terms, $500 cash and balance on
time also for J. l.. Stevens ct al to Mrs
Rebecca Sherry lot 25x120 feet, on Hast
ings street, for 81. .050 cash, on which a two
story frame house will be built at once.
Charles Somers & Co. report the follow
ing additional sales of lots at Blaine: Cas-
per Fertig, city, lot 3, in block 4, $500;
Henry Marcer, Bucyrus. O.. lot 6, in block
s, 800; P. r. Strohnmeyer, Southside, city,
lot so, in block 13, s40O; A. C. Shelton, AL
legheny, lot 7S, in block 10, $500; Warren
Purdon, city, lots 80 and "a, in block s,
S4OO and $3.50, respectively; Fred U. Miller,
steubenyille, O., lot So, in block 8, 5000;
William Sitter, Southside, city, lot SO, in
block IL S4n0: Eliza V Jones Allecheny