Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-10-09
POINTS IN REALTY.
Interesting "reminiscences of q
Smithfield Street Merchant.
HOW A WOMAN MISSED A FORTUNE
Another Step in Series of Mysterious and
Significant Deals.
FEATURES OF MONEY AND SPECULATION

FEATURES OF MONEY AND SPECULATION
The realty market is in better shape than
at any previous time this year. Several
large transfers have been made within the
past few days. While these are important
as showing the high estimation in which
realty is held by capitalists, it is after all
the multiplicity of small deals that gives
tone to the market This trade, the absorp-
ton of small lots, has regained its GUS
tomary activity.
A few years ago real estate was 'back
number" Very little was said about it.
Now it is more talked about than anything
else. This was exemplifed yesterday in
the case of a prominent music dealer on
Smithfield street, who, a short time ago,
moved into handsome building of his own.
He was full of reminiscence. "The site
upon which my store stands" said he, ''was
owned by Scotch woman, who kept board
ers. Ihe building was small, but it an
swered he. purpose. The owner offered her
the property and the one adjoining for
$4,000 She bought the one she occupied for
$4,000. When urged to take the other she
said she was too poor, and her means of
making living too precarious to run the
risk. 1 paid her 1000 for the ground
alone. The property she thought she was
too poor to buy is worth as much as mine.
She thus pissed handsome fortune"
The small building on the southwest cor
ner of Smithfield street and Sixth avenue,
occupied as a drugstore, Is more valuable
than people suppose. The lot is 20x60. In
regard to this property the gentleman
quoted above said: "It belongs to an estate.
About two years ago prominent capitalist,
who took fancy to the location, made the
heirs an offer of $50, 600. His object was the
erection of handsome, compact, nine-story
building, each floor to comprise an Office
He tn ought such structure in that quarter
of the city would be good investment. His
offer was promptly refused. Not far from
this corner is another property for which
$50, 600 has been offered and refused. Very
little has been said about the Splane prop
erty for several months. 1 happen to know
that prominent banker is after it, and
think he viii succeed"
"Since 1 bought and built" he con-
tinued, 'the chief interest in Smithfeld
street property has been diverted to the
south side of Fifth avenue. This change,
of course, is due to the new postofice.
Judging from the talk an active movement
may be looked for in that quarter within
the next year or two. The sale Of the
Messler property mears more than appears
on the surface. have Just learned that a
prominent firm owning and occupying valu-
able property on Fourth avenue has leased
new quarters for terms of years This is
significant. 1t may be link in the deal
going on in the block between Diamond
street and Fourth avenue, about which so
much has been said and so little is known.
"Within two years there will be new
business block on Smithfeld street, one on
Fourth avenue and one on Third. Other
will be made So you see
Wood and Crane is full of promise of big
things. 1 consider it the best part of the
city for investments.
A Boom for Lateoba.
Mr.. c. T Beeckman, the Fifth avenue
real estate man, has purchased SO acres of
land at Latrobe for $50, 1000. Twenty-six
acres will be laid off in lots, The other ten
acres have been donated to the Nations
Mower and Reaper Manufacturing Com.
pany, of Allegheny, for plant, for which
plans are being drawn, There will be two
buildings, each three stories high and 200
feet long. 1t will give employment to 1000
hands. Ground will be broken for this en-
terprise next week.
Anthracite Coal Trade.
According to an Eastern authority, the
,oa. trade is now in excellent condition,
and continuance of the present weather
will stimulate the demand to point that
would probably admit of an increase in the
October production of 3,750,0O0 tons. The
Western trade is rapidly getting into better
shape, but the existence of contracts mad.
earlier in the year at lover pr;.,ss has been
a handicap Prices ars beieg firmly held at
a shade below circular fignres, but the sales
agents are srcoa aged By the willingness of
retailers to stock up m ere freely.
With the close of navigation, and the ad-
vance of cold weather, marked increase in
must follow as result of the
hand to mouth policy of consumers.
Business News and Go sip.
Pittsburg's prosperity is being shared BY
he surrounding towns.
The National Cordage Company has de-
,lared the regular quarterly dividends of Q
per cent on the preferred and ~ per cent
IN the common stock.
Insiders are predicting another advance
n Distillers and Cattle Feeders stock.
A railway up Federal street, Allegheny,
% the hilltop and beyond would open up
arge scope of territory to settlement. This
is quite possible.
Northern Pacific stocks are being sold on
,he further issue of 81, 100000 consolidated
mortgage bonds.
At the last call yesterday 1O7 was bid for
Citizens Traction 5s-an advance.
Oil was weak yesterday on expectation
Of another batch of gushers at Mcdonald.
1t was said there was no foundation for |
he rumor of impending failures in London.
Rea Bros & Co. expect to resume bust |
less early next week. |
Since the revival OF business on Change |
here is not SO much haste to sell the build |
ng. 1t is still in the market but at an ad- /
Tance on the original figure.
Movements in Realty.
Baltensperger. & Williams sold for B. J.
Williams and George H. Hushey, q new
rame dwelling of five rooms, hall, porches,
antry, ETC., lot 20x1OO situate on Belonda
trect Mt. Washington, for s.. 400 cash.
j. L. Glass sold IL lots adjoining the Allie
uippa Place plan, in the Thirteenth ward,
or 81, 500
Hoffman & Baldridge sold lot No. "a, in
'almer Place, Swissvale, 40x12O feet to an
Hey, for $500 cash. The purchaser will erect
residence at once.
Black & Baird sold for s. F. HARRISON the
property No. l42 Charles street, Allegheny
,ity, being n two-story frame house with lot
DX73 feet, for $500.
A. J. Pentecost sold lots 100 and l0I in his
alley View plan, CHARTERS Valley Railway,