Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-20

for several years. There is q positive scare
ity of rolling stock, while heavy orders for
rails indicate large amount of track lay
ing and repairing An authority on this
subject says there is projected fully $1,000
miles of trackage for which capital is ready.
There is enough railroad work in sight to
keep the iron mills busy for months. In
| addition to this thousands of new enter
prises are under consideration, many of
which will be consummated the coming
year.
Looking at the future in the light of the
! present, there is no cause for apprehension.
The enterprise of the country is active and
aggressive, and there are no serious obsta-
cles to bar its progress. To use the Ian
guage of another: ''Those who imagine
| this country has seen its last sudden and
general expansion Of traffic do not under
stand the underlying forces which have
| made it what it is, and which are to-day as
actively at work as ever"
East End Development
During the coming season a number of
streets will be opened in the vicinity of
Highland Park, which will bring into the
market large amount of the most desira
BILE territory in that district for high-class
residences. Callowhill street will be graded
and paved, and several handsome dwellings
started as early as possible in the spring,
among which will be an elegant stone man.
sion by George Peabody, the well-known
contractor. One of the iron kings, whose
present residence is Allegheny, will also
build. Property values in view of these
projected Improvements and park develop
ment, are stiffening. A large building site
on Highland avenue. which sold about two
years ago for $50 foot, is now held at $780,
The privilege growing out of the recent
agreement between the Duquesne and Pitts
| burg Traction Companies, by which citizens
in the North Highland district are per-
mitted to use either of those routes at the
same cost, is strong factor u urging for
ward the improvements which are here
outlined, as it brings the precinct in ques-
tion into closer connection with other parts
of the East End, thus adding to the comforts
| and convenience of residenceship.
A Misfortune to Business.
The destruction, by fire or. otherwise, of
business house in Pittsburg is a serious
matter, outside of the direct pecuniary loss
1t puts the occupants to great straits to
secure new quarters, and in many cases
they are unsuccessful in their quest. When
the destruction of their building became an
assured fact, member of the firm of Porter
& Donaldson sought Mr.. Arbuthnot for the
purpose of securing his building on Liberty
street, only to learn that it had been leased a
short time before. 1t is understood they
secured from Mr.. Roberts two or
three of the upper floors. There is not
business stand in the city of ANYTHING like
adequate size that they can obtain for love
OF money. When the Weldin block was
demolished two years ago by cyclone, the
occupants had to seek quarters in rear
large wholesale houses should be burned
out, it would be impossible to find another
home.
These facts not only indicated dearth Of
business stands but emphasized the neces-
sity of immediate steps to rectify the want
so as to give business fair chance. Pitts
burg is prosperous and growing, but it
would develop much more rapidly along
these lines if capitalists and builders would
double the number of stores and warehouse.
Business News and Gossip.
The week was a good all-round one for
business and results were satisfactory
Holiday buying was the feature
A great many people are kept out Of bust
ness by their inability to secure stores.
Pittsburg is the only city in the country that
is unable TO mouse It's people
John d. Bailey yesterday sold for whom it
may concern 75 shares of Union Storage
Company stock at $50.
The attention of investors is called to the
offer of stock of the Sharon Railroad Com
pany by A. j. Lawrence & Co., whose adyer.
tisement appears in another column.
The first sale of common stock of the
terday at par tslOo), Mr. j. Lyon being the
seller.
There were no bids on the open board YES
terday for DuQuesne or Birmingham Tiac-
tion stock. and no offers. The former was
quoted around Is. For Manchester 35 was
bid.
The Thomas Rowswell estate has sold a
business property on Penn avenue, Twelfth
ward, to Mary Brennan; for IS, 500.
Andrew Caster sold yesterday I25 shares
of Citizens Traction stock at 60%@6O5s.
$50 600 Mckeesport and Bellevernon Rail
road bonds.
Eighteen permits were issued last week
for 81 improvements, aggregating s3s, sos.
Nominations for officers of the Pittsburg
Exchange, for the ensuing year, were made
yaste day. j. S. McKelvy heads the list.
His services as President the past year have
The past week witnessed gradual and
uninterrupted rise in the New York stock
market.
shares of Monongahela Water Company
stock at q.
Railroad reports received yesterda~swere
uniformly favorable. The only troG6ea is a
scarcity of cars.
Movements in Realty.
The recent activity in rapid transit mat
ters on the Southside has called the atten-
tion of real estate buyers and home-seekers
to the territory lying Immediately beyond
the southern city line. The Birmingham
Traction Company, having secured control
of the two inclines and the Knoxville and
St. Clair electric road and all street rail-
way franchises in Knoxville, is COM
pleting arrangements to carry passengers
direct to the city by way of the Knoxville
Incline without change of cars. Some peo-
pie object to this territory on account OF the
inclines. This objection is about to be OBJ
waited blythe extension of the Suburban
Rapid Transit Company's lire to South
Eighteenth street by way Of the Browns
vile Turnpike road which is to be graded.
double tracked and paved at once; contracts
have been let for the work. This improve
ment will do more to develop real estate
than all previous efforts to solve the prob
lem OF rapid transit for that district.
The Southside has the advantage of q
suburban neignborhood within one mile of
Carson street that has natural gas, city
water, lighted and improved streets and all
far-sighted investors are already plotting
choice locations in this section along the
line of the Suburban Rapid Transit Railway
in anticipation of its extension down to the
city, which is now an assured fact One of
these new plans II lots, "Gifin Place." laid