Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-31
A BUSINESS SURVEY.
The Situation at the Close of the
First Quarter of the Year.
PROSPECT FOR GOOD CEREAL CROP
Stock Trading Slow and No Developments
to Break the Monotony.
THE NEWS AND GOSSIP OF THE CITY

1t needs no remarkable penetration to per-
ceive that in business sense, Pittsburg is
getting on her feet again. Figures show it.
From the ninth place in the list of clearing
house cities she has risen to the seventh by
stepping oyer Baltimore and Cincinnati.
Slowly but, it is to be hoped, surely OBJ
structions are disappearing. 1t is time for SET
tied weather. This will heal the sick and en-
courage the respondent. The only thing that
stands in the way of a complete revival Of trade
is the eight-houSes citation, and there is reason
for hoping that 1t will be settled without resort
ing to heroic measures.
A survey of the first quarter of 1891, which
will be completed tomorrow, discloses a num-
Der of features worthy of notice in institGting
comparisons with the corresponding period in
1890. The year opened at disadvantage.
Heavy failures in Europe, due to the bursting
of South American bubbles, were reflected in
this country in broken banks shattered credit,
tight money. loss of confidence and many cor
porate and individual suspensions People took
in sail, the volume of trade was curtalled the
banks commenced piling up surplus funds for
emergencies. and the forward impulse was
completely checked.
The recuperative power OF this country is
greater than ever before. Public necessity is
stronger than panics. The store of wealth and
energy and enterprise is SO large and aggressive
that it soon finds its way out Of difficulty. The
legacy of 1890 was serious, but not inSurmount-
able. The foreign situation soon began to I'M
prove the outward flow of money was checked,
and business has picked up at home. This was
the turning point of the year. The reaction was
slow, but it held, and bids fair to hold the rest
of the season. The outlook grows better and
better. The plethoric condition of the money
market offers inducements to enterprise which
must result in the establishment OF many new
and important activities.
The Clearing House statement for the quar-
ter will show falling off of between $4,000,
COO and $50 0OO,O0 as compared with the cor
responding time last year. Those who read
these figures without reference to their con-
nection are liable to form false conclusion.
1t would be better, of course, if they repre-
sented gain instead Of loss, but when it is con-
sidered that the total clearings foot up about
Sl6O 600 600 the shrinkage loses much Of its sig
nifcance. As compared with 1883, which was
considered year of great prosperity. there has
been gain.
AS stated at the outset the tide has turned.
The feeling of depression. so pronounced at
the beginning of the year, has been succeeded
by buoyancy and confidence. There has been
trade in the last two or three weeks. The
prospect is good for large yield of cereals,
vegetables and fruits. The Cape Horn of the
year has been weathered, and unless the unex-
made. there is no reason to apprehend other
than easy sailing the remainder OF the season.
Business News and Gossip.
At the Exchange yesterday appropriate
action was taken in regard to the death of Mr..
w. L. Badger, member. A committee of the
Exchange will attend the funeral.
The organization of the Larimer Land I'm
provemeDt Company. mentioned in this column
on Sunday, was completed yesterday, and the
full amount of stock, $4,000. subscribed. The
officers are: II. L. Castle. President; C. I.
Beeckman, Secretary, and 6. w. Barricklow,
Treasurer.
Eleven Of SO mortgages on the Recorders
file yesterday were for purchase money. The
largest was for s6.25O. Each of IL was for less
than ST. 600.
Several business changes will occur to-day
and tomorrow. Charles Somers Co. and
James W. Drape &,Co. will exchange quarters
and the Kuhn Bros. will locate at No. 9S Fourth
Nj. D. P. Black was at his Office yesterday
for the first time in week, having been laid
up with the grip. Henry M. Long was also
able to attend TO business. John B. Larkin,
Thomas Liggett and John F. Baxter are i'm
proving, and expect to be out in day or two.
1t is stated that ]. B. Corey, the well-known
coal operator, will build row Of 10 or 20 dwell
ings at Copeland the coming summer.
A North avenue. Allegheny, residence
changed ownership yesterday, but the exact
location could not be learned. The price men
toned was $4,000
The Building Record.
The following permits for the erection of
new buildings were issued yesterday:
Mrs Kate O'Donohue, frame two-story and
basement dwelling 19x32 feet on Monongahela
street, Twenty-third ward Cost S., ,276.
Henry Gibbons, two frame two-story dwell.
ings, 1882 feet each. on Bigham street, Thirty
second ward. Cost, $500.
NJ. Finnigan, frame two-story dwelling l6x20
feet, on Jones avenue, Twelfth ward. Cost,
s275.
Samuel Shook, frame two-story dwelling,
17xS2 feet, on Hamilton street, Twenty.seyenth
ward. Cost $500.
VIM. Warren. frame addition two-story store,
14xl6 feet, on Thirty-third street, Thirteenth
l. T. Lashley, frame two-story dwelling,
l6x2S feet on Fannell street, Nineteenth war d.
Cost, $500.
James Keenan,, frame one.story shop, 20x25
feet, on Concord alley, Thirteenth ward. Cost,
George Benline, frame addition, one-story
dwelling, 17x32 feet on Gregor street, Twenty
seventh ward. Cost, $500.
W. 9. Hamilton, frame two-story station,
lSx2O feet rear MayHower street, Twenty-irst
ward. Cost $l00
James Elsasser, frame two-story dwelling,
lSxS2 feet, on Euclid street. Nineteenth ward.
John u. Bennett, brick one-story kitchen.
I2xl9 feet, on rear Highland avenue, Twentieth
ward Cost, $500.
Movements in Realty.
W. E. Hamnett d Co. sold a house and lot
on Wallace street, Williamsburg, to ex-senator
]. r. McLain. of Claysville. Pa. for S3300
Black & Baird sold for Rev. Henry Baker, of
Philadelphia, to Frank Cartwright a No. l
frame dwelling of six rooms. situate at 5S65
r.,itI 1of 0QwI0n
2O-foot alley, for price approximating Sc, ,0OO.