Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-14
ON A SOLID FOOTING.
Pittsburg's Business of a Nature to
Resist Outside Pressure.
A SELF-POISED HIVE OF INDUSTRY.
No New Features in Local Stocks. but For
eign Advices Assuring.
OFFICE AND STREET NEWS AND GOSSIP

1t is essential to just appreciation of the
character of the business transacted in Pitts
burg and to properly account for the re-
markable material growth of the last few
years, to remember that it is of the solid
sort which is not liable to increase or di-
minish as the wind blows hot or cold. The
| products turned out here are of prime neces-
sity and are as stable as wheat, corn and
| meat
Speculative commodities are often depre-
ciated Oh mere rumor, but iron and glass,
coal and coke have permanent value and
| find a ready market, and they cannot be
"cornered." Intimately associated with all
the great activities of the people, they are
| superior to manipulation and always bring
ready cash.
a community so well poised as this is, so
nearly self-sustaining, with large and con-
slant accessions of capital and enterprise,
has little to fear from outside influences, SO
long as home affairs are managed dlscreetly.
Panics abroad and high-jinks in Wall street
and Chicago serve to make local fnanciers
more cautious, if possible, but they are al
ways prepared to sustain legitimate te interests
and encourage the judicious expansion OF
business.
Old John Adams said: "Millions for de-
fense, but nothing for tribute" In like man.
ner Pittsburg is always ready to encourage
genuine enterprise, but has no mercy for
wildcats. This wise discrimination between
substance and shadow enables her to move
along serenely when other cities are barely
able to keep their heads above water.
Business News and Gossip.
Wood street, Williamsburg, is being paved
with brick. The work is well under way.
THE DISPATCH representative was reliably
informed yesterday that neither NJ. X. Moor
head nor John B. Jackson is a director in the
Rolled Steel Carriage Wheel Company, as re-
ported in one of the morning journals.
Captain Vandergrift and the Thaw estate
have not abandoned the purpose of building
on their Wood street lots, but will not begin
until next year.
Henry NJ. Long, as well as other brokers,
received numerous letters yesterday from
holders of Electric stock, asking advice as
to surrendering the required 40 per cent.
Mr.. Long thinks that is the best that can be
done under the circumstances.
A prominent architect said yesterday that
the Exchange building could be easily con-
verted into first-claSs office building, the
walls being strong enough to sustain two
additional stories. Its central location
would, he thought, insure ready occupancy.
OF 10 purchase money mortgages on file
for record yesterday, the largest was for
$4,000. The promptness with which mort
cages are being satisfied shows that the peo-
pie have money.
The sale of residence on Sherman avenue,
Allegheny, for $4,000 was reported yester-
day, but neither the location nor the name
of the buyer could be ascertained.
The regular meeting of the Real Estate
Auction Board was held yesterday. Only
routine business was transacted.
r. J.Stoney, Jr., has made compilation of
the Pittsburg national bank returns from
Official statements to the Controller under
the call of the 4th inst, and issued it in a
handsome and convenient form. 1t is of
special value to investors.
George B. Hill & Co. sold Electric and Fred
Rinehart bought.
Pittsburg Traction bonds were offered at
10y. For Citizens Traction 5s, l05 was bid,
Pittsburg and Western for the first week of
May shows earnings of $50, $50, a falling off of
The Building Record.
Permits for the erection of the following
buildings were issued yesterday:
William j. Noble, frame two-story and
attic dwelling, 20x45 feet, on Keystone street,
ward. Cost, $1,000.
William Maloney, brick two-story bake |
house, 12x3O feet, on Butler street, Fifteenth
ward. Cost $3.50
Harry Black, frame two-story dwelling,
22x32 feet, on Shetland avenue, Twenty-first |
ward. Cost $1,000
Mrs. S. A. Giffin and Joseph Graves, frame
Tioga street, Twenty-first ward Cost. $l3s.
David Round, brick one-story store, 23xSO |
feet on Arlington avenue, Thirty-first ward. |
Cost, $1,000.
John Goch, frame addition two-story |
dwelling, Sxl6 feet, rear Fifth avenue, |
ward. Cost, $3.50.
Movements in Realty. /
James W. Drape & Co. sold a residence |
property on North avenue, Allegheny, lot 2s |
x160 feet, with a brick residence thereon, |
and other improvements, for SIG 600; also six |
lots in the plan of the Munhan Valley Land |
Company, near Homestead, for 81, 200
w. A. Heron & Sons sold three lots on
Webster avenue, Eleventh ward, near Erin
street, size 19x1O0 feet each, for 81 $50. The
purchaser intends improving the same in a
short time, with nice brick houses, as an in
vestment.
j. E. Glass sold for A. C. Watkins lot No. %
in his Allequippa place plan, fronting 20 feet
on Herr street. for $3.50. Mr. Glass has sold
Purchasers will build. Five houses are
under way.
Black & Baird sold to James Musser lots
Nos. 467 and 46S Ellwood City plan. being 40y
l60 feet each for 81, 100. They say Ellwood is
q hummer.
E. T. Schaffner sold for John PEBBLES a lot
25x150 feet, on Eureka street, Thirty-first
ward, to John Schmidt for $3.50 cash; also sold
for William Schuette, to John Gedeon, a
frame cottage, with lot 34xl04 feet, on
Brownsville avenue, Thirty ward, for
1850 cash.
w. H. Heselbarth sold for Thomas Evans.
to Julius E. kuehn, a six-roomed frame
dwelling, with lot 60X75 feet, on Center
street, Thirty-nfth ward, for 1000 cash.