Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-12
POINTS IN REALTY.
Rapid Transit Doing a Good Work in
Opening New Territory.
CHEAP LOTS STILL IN THE MARKET.
Earnings Of the Street Railways and Talk
Anent Consolidation.
OFFICE AND STREET NEWS AND GOSSIP

houses. There is property on the market at
all prices-suitable to the fattest as well as
the leanest purse. Good building lots are
offered as low S25. Formerly land in the
outer districts was cheap because it was in
accessible. The extension of the different
railway systems has been of inestimable
value to people of limited means by opening
large tracts of land for settlement which
would otherwise be truck patches or cattle
ranges. This multiplication of acreage and
resulting subdivisions not only maintain
the supply of lots but also keep prices at
low level, enabling the industrial classes to
acquire homes practically on terms of their
own making. No man with family to care
for is justified in renting when he can buy
or build a home on payments adjusted to
his circumstances.
Financial Centers Increasing.
The Val Street Ne,us in accounting for the
strong position of the money market re-
marks that only a few years ago the New
York banks carried a very considerable
proportion of the reserve of the national
banks of the entire country. Now as
smaller financial centers increase in num-
Der and importance, less strain is brought
upon the associated banks of New York.
We are therefore able much more readily to
answer a call from abroad, because we have
so many different sources from which to
UItlW. AT UDe same bl1ne, U0e movement OI
currency is more steady and we have much
less violent changes in the condition of the
banks in the larger cities. Never before in
a similar period has so large an amount of
gold been exported with clearings of equal
amount and changes from week to week in
the condition of the banks so unimportant.
An Enviable Position.
The United States at the end of a halfy
from the Barring crash, is the only country
in the world whose finance and banking are
imperturbed, and which is looking forward
with hopeful and prosperous prospects to
the coming half year, in which its own crops
will be large, foreign demand brisk, and the
manufacturing situation favorable to its
Business News and Gossip.
The strike has temporarily checked the
development of new towns, but they will
spring into activity again when the carpen-
ters resume work
Sales of lots at Kensington on Wednesday,
the opening day, foot up over 100000. They
will be continued all week.
At a recent auction sale in New York SIC, 900
Cleveland and Pittsburg Railroad Com
pany's first mortgage per cent bonds, due
19OO sold at lis.
Jay Gould says he cannot see what there
is to base predictions of tight money on, now
or later in the year.
The church and college properties will
probably be disposed of without the inter-
vention of agents, several of whom have
made unsuccessful applications for options.
The Minnesota Iron Company has declared
a quarterly dividend of ~ per cent, payable
July /.
A London paper says 1t is reported that
large speculation for the rise in copper and
copper shares is being engineered in Paris,
and that for the purpose of the gamble con-
purchases of the metal have been
made.
Morris, Armour and Swift, Chicago pack
ers, will begin Immediately to move their
packing houses to Tolleston, and
there ship all their product by boat during
the season. This will make large inroads on
all rail business from Chicago next season.
The Union Pacific will soon, it is said, be-
gin work on its projected line to Helena,
Mont, placing it in direct competition with
the Northern Pacific. ''-
Anew business has been started in Pitts
burg by Mr.. Mortimer Starling-the prepara-
tion of deeds, mortgages, etc, for lawyers
and real estate brokers.S This is quite fea-
ture in the East, and will no doubt fill
want here.
The National Starch Manufacturing Com
pany has declareda semi-annual dividend of
6 per cent on its preferred stock, payable
July l.
The Sugar dividends are payable July 2;
books close June 15.
George Westinghouse, Jr., was in Boston
For Manchester Traction Ss% was the
bid yesterday.
The. report from Philadelphia that the
American Cordage Company had been
formed there is not credited.
The question of an assessment was not
brought up at the meeting of Central Trac-
tion directors yesterday: 1t was considered
preferable to meet Indebtedness with earn
ings of the road.
Union Transfer and Trust Company stock
was offered at s.
For Pittsburg Junction first mortgage 6s
The Building Record.
Permits for the erection of the following
building were issued yesterday:
William Reichold, frame two-story dwell
ing, l6x32 feet, on Grazier street, Twenty
first ward. Cost, $1,000.
William Cupples, frame two-story dwell
ing, 2l15x3175 feet, West street, Twenty-sec-
Ond ward. Cost, 81, lO0
Alexander Cupples, frame two-story dwell
ing, 2l1%X311z feet, on West street, Twenty
second ward. Cost, 1OO
l9X45 feet, on Mayflower street, Twenty-first
ward. Cost, $500
Anton Kunzelmann, frame 115-story stable,
l5x20 feet, on Michael street, Twenty-seventh
H. NJ. KeaIney, frame one-story shop, I7x3O
feet, corner Reed street and Kearney alley,
ward. Cost, 500.
Catherine C. Hughes, frame two-story ad-
lition kitchen, INA feet 81 Elm street,
seventh ward. Cost, $500.
Movements in Realty.
Baltensperger & Williams sold for John
Hip to Mrs. Bridget Mannion a four-roomed
louse on Mt. Washington, lot 25xlOO, for ST.
90 cash.
Black & Baird, sold to Charles Adair, lot |
10. in the John A. Roll plan at Linden |
tation, fronting on Frazier street near |
Tuliet, for 5000. They report Elwood sales: To |
T. B. Bennett, lot Nos. 965 and 96S, for 81 900: |
o S. J. & W. Ii, Black, lot S67 for $500: to j. N |
Jarvis, lot 961 for $500, and to William c. |
rhoma lots $50 and lot 1853 for $1,000.
The Schenley Park Land Company sold to |
smith johnson two 4Qfoot lots on Winter |
,uTn avenue for $, ,2JO cash; also, two 25-foot |
OTIS on Holdam street for $3.50 each There
have been made to build an
lectric road up Greenfield avenue within 60 |
lays.
John K. Ewing & Co. sold to Messrs. Ross
Marshall, contractors, a lot 25 feet front
N Buena Vista str. ct and extending 100 feet
through to Perrysville avenue Second ward
Allegheny, for $1,000 cash.
NJ. f. Nipple & Co. sold to ANDY Wylk a lot
x123 feet, on the west side of Downing
treeG in the Dickson plan of lots, Thir-
eenth ward, for $3.50.
W. A Heron q Sons sold another lot
Ox225 feet, on Boggs avenue, Thirty-second
yard, for Nj. ID. w. Loomis for $500. The
assumes the expense of paving
he street, If any there be.
mATruTNC Trrr conxrnr