Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-23
Another Important Move Made in
North Diamond Street Property.
SCHOOL Or POSTOFFICE, WHICH ?
Bishop Phelan May Change His Mind and
Sell Out to the Government.
FEATURES OF LOCAL SPECULATION

neoy Woulo not say anything about the mat
ter yesterday, except to admit that he had
bought the Lemon property, and that the
deed had passed on Saturday.
| From another and entirely reliable source
| 1t was learned that the Government has a
30-day option on the property corner of West
| and North Diamond streets, and immedi-
| ately opposite the recent purchases of Bishop
| Phelan. The President of prominent bank
| In Allegheny, with property interests on
North Diamond street, in speaking of the
| recent sales on that thoroughfare and the
| selection of a site for the new postofhce,
| said: Bishop Phclan now owns about 135
feet on North Diamond street, and 1 think
his investment a very profitable one, as
| feel satisfied that the opposite corner Is the
one upon which the new public building
| will stand" In answer to a leading ques-
| ton, the gentleman said further: "Yes, we
| have given the Government an option on
our interest, and we consider the matter
about settled" Bishop Phelan could not be
| seen yesterday, and Mr. Kennedy would not
undertake to speak for him or say what dis
position would be made of the property.
The original purchase was for school pur-
poses: Whether the action of the Govern
ment would or would not change the
Bishops plans Mr.. Kennedy could not an
purchases were contemplated. The erection
of two beautiful and costly public buildings
on North Diamond street was not thought
possible six months ago.
In a Waiting Position.
Reviewing the stock market the Boston
7rdreller says: "The general conditions are
all so favorable that very few people care to
venture on the short side of the market, and
at the same time the outlook is not yet quite
clear enough to induce any extensive out
side Investments. The markets, altogether,
are now in a waiting position and environed
by a feeling of hopefulness that promises
well for the immediate future. The bulls are
well content to wait, and they can grace
fully accept the prevailing dullness, so long
prices do not go off materially. The foreign
exchange market continues strong and some
does It will, in view of the fact that it will
go to meet exchange requirements rather
than to satisfy foreign liquidation, have
very little effect on values here, especially
as our present monetary conditions are SO
easy"
Business News and Gossip.
The belief is quite generally entertained
that the much-talked-of Allegheny post
office will be located on North Diamond
street.
Up to Friday night 81, ,675 shares of West
inghouse Electric stock had been deposited
under the plan Of reorganization.
Still another important industrial concern
is negotiating for a site in Kensington. A
large number of dwellings will soon be under
way.
1t is authoritatively stated that the Read
ing Railroad will not sell a single general
mortgage per cent bond below 95.
The Pittsburg and Western Railroad will
be running through the new town of Elwood
in few days. This will shorten the distance
between Limeton and New Castle three
miles and a half.
The July interest and dividend payments
on railroad securities will not, 1t Is estimated,
fall short of $79,0OO0O0, against $73,000,0 900 q
isss. s ~ y S'''''''''' Ill i''' anu s,'OO''O0 IN
four handsome dwellings in the upper part
of Edgewood as soon as the strike Is settled.
A New York authority says there is some
thing big going on in silver. The purchases
by one house alone of silver bullion, outside
the Exchange, during the past three weeks
has amounted to over 100000 ounces.
Whitney & Stephenson sold 25 shares of
Birmingham Traction stock ut 81.
Two jags of Pittsburg, Virginia and
Charleston scrip changed hands yesterday
at 81 and 9lL.
The Bank of England yesterday reduced
its purchase price of bar gold I'D. This
makes the price 76s 415d for American eagles.
Unfounded rumors of serious damage to
yesterday They had the temporary effect
of weakening stock
The Indiana Supreme Court yesterday de-
oided the statute prohibiting pumping
case will now go to the United States Su-
preme Court.
Rock Island and Peoria Railroad yester-
day declared semi-annual dividend of 2M
per cent r. r. Cable was elected President.
The Building Record.
Mrs. W. H. Nierste, frame one-story addi-
tion kitchen, 15x15 feet, on Walter avenue,
Thirty-flrst ward. Cost, $500.
Philip schutts, brick two-story addition
kitchen and bath, l6xlS feet rear Penn ave-
nue., Twelfth ward. Cost, $400.
Mrs. Lorenzini, frame two-story dwelling,
16xS4 feet, on Beatty street. Nineteenth
ward. Cost, $3.50.
Joseph Menye, frame two-story dwelling,
lsxS2 feet, on Angle street, Thirty-sixth
ward. Cost, 81, 900.
Henry Sperle, frame two-story dwelling,
20x24 feet, on Heron avenue, Thirteenth
ward. Cost, $1,000.
sard dwelling, 20xS2 feet, on Brereton street,
Thirteenth ward. Cost, $l,620.
Hershey Williams two frame two-story
dGwellings, DIV ls13a feet on Belonda edS street,
George B: Kelley, frame two-story and
attic dwelling, 2sIS4 feet on Kelley Street,
Twenty-frst ward. Cost, $1,000.
ing, 2lx32 feet on Fifth avenue extension
Twenty-frst ward. Cost, 5000.
Movements in Realty.
W. A. Heron & Sons sold foI David Shaw.
executor of Mrs. E. Holt, deceased and by
order of Orphans Court a lot about sOxlil
feet on the corner of Walnut and Emerson
streets, East End, with two large houses of
nine rooms each, for $I9, ,3OO
John *. Ewing & Co. sold at auction the A.
NJ. E. z. Church property at jacks Run sta
tion, Pittsburg, Fit. Wayne and Chicago Rail-
road, consisting of one-story frame build
ing, with lot 9Oxl13. The purchaser will
erect several small dwellings
Baltensperger & Williams sold for Jos. J.
Doyle to Jacob Fisher lot, 25xlOO on Bigham
street, Th1rty-second ward, for 1915 cash.
j. L. Glass sold for A. c. Watkins to
Emmanuel S. Cox lot No. 80 in Alliquippa |
place plan for $3.50.
Black s Baird sold to John G. Rhein two |
lots on Walnut street, Ingram, being Nos. !
and 2 in the j. r. Mckinley plan. 1876 feet |
front, by depth of l47 feet, for S. 500. |
Peter Shields sold for the Schenley Park |
Land Company to James Failon lot, 25xlOO, |
on Holdane street, for $400; also to John Nell
ligan lot, 25xl00, on Holdane street. for S4OO; |
also to Thos. Jones lot 25xl45 on Winter
burn avenue, for SOCIAL on monthly pay
ments.
NJ. F., Nipple & Co. sold to Thomas
0edowski lot 20x75 feet, on the east side of !
Hancock street, being No. 81 in the NJ. S, |
Dickson plan, Thirteenth ward for $475.
The Burrell Improvement Company re-
port the following additional sales at Ken
sington: To Charles Kuehl of Wilmerding,
lot l46, in block 6. for $44s rs; David Sigal, of
Pittsburg, lot l5i, in block 4, for $276 %; A.
Gottman, of Pittsburg, lots l55 and 156, in
block D, for 1852 90; S. Howlits. lot 149, in
block :, for $276, and to j. C. Conrad, of Ia
rentum, lot loo, in block 9, for $276 25
BANKS AND BANKERS.
Plethoric Vaults ard a Moderate Business