Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-02
THE CONTRACT LET.
Work to Begin This Week on the
Schenley Park Branch of the
SECOND AVENUE PASSENGER ROAD
A Lofty Jump in the Price Of Fifth Avenue
Property Spoils . Sale.
FEATURES OF MONEY AND SPECULATION

The contract for the construction of tht
Greenfield avenue branch of the Second
Avenue Passenger Railway was let yester
day, and work will begin this week. Il
is expected that cars will be running t.
Schenley Park over this route within 81
DAYS.
Although the district which will thus be
brought into easy communication with Other
parts of the city and the entire East Liberty
valley is comparatively new, it has not been
overlooked in the rush of improvement.
Many fine homes have been erected and q
number of others are in course of construc-
tion. That it is attracting the attention OF
home seekers is shown by q good inquiry
for building Sites Peter Shields has dis
posed of S20, 900 worth of lots within the
last few weeks. Sales amounting to as
much or more have been made by other
agents. The introduction of rapid transit
| will, it is safe to say, give it fresh impetus.
In connection with the above, it may be
noted as matter Of public interest that the
bridge from Greenfield avenue to Schenley
Park has been completed and opened to the
public. 1t terminates at the menagerie
building and other points Of interest, and
Too Much Of Bulge.
Sometimes owners of real estate 'kill
the goose that lays the golden eggs. I"
Thinking they can get their own prices
they put them SO high as to discourage
buyers Here is case in point: An agent
sold piece of property on Fifth avenue
reason the deal fell through. Negotiations
were resumed few DAYS ago. and the price
put on it was S27, ,O0O This figure was con-
sidered exorbitant, and the deal stopped
there and then.
There is no doubt that property values
are enhancing in that ,neighborhood, but q
jump of nearly 100 per cent in a year with
out any special reason is entirely too much
of good thing and defeats its own object.
This is not the way to encourage business.
Business at Denver.
The condition of the real estate market at
Denver, where there are many Pittsburgers,
is thus described by broker who was there
recently on business: "From such observ-
alton as I was able to make the market
seemed to possess considerable strength. I
was informed that there was a good invest
ment demand, particularly for business
properties. Dwellings were in active de-
mand and rents were stiff. During the week
taken out, aggregating s7l ,0o0."
Business News and Gossip.
A good sale in the Seventh ward is hung
up on difference of less than 81 900.
Many think the improvement in local
stocks has come to stay. Had it been de-
ferred until after the holidays it would
have been better.
Henry Witt has sold to John Reichle .
residence property in the Twenty ninth
ward for S., 300.
Agents think there will be no material
advance in rents next spring, except per-
haps for business stands on account of their
scarcity.
The only important building permit is
sued yesterday was to c. G. Hussev for q
brick addition fifth story business house on
Fifth avenue, Tenth ward, to cost IS, 900.
Two others were taken out aggregating
S3, 100.
The following persons were yesterday
chosen directors of the Monongahela In
surance Company: William A. Caldwell,
George A. Berry, George w. Dilworth,
Charles Atwell, James A. McDevitt, Charles
H. Spang, J. w. Dalzell, John G. Stephen
son, William Thaw, Jr., Charles H. Shinkle,
A. d. Smith, Nathaniel Holmes, H. L.
Mason, John Caldwell, Jr., and r. S. Smith.
Although Philadelphia Gas finished
little off yesterday, there are enough orders
for it to prevent material decline, if not to
put it up to still higher point.
At the last call yesterday III was bid for
Electric scrip, offered at 80.
The Fort Pitt National Bank yesterday
changed quarters in the Hostetter building.
The move was manifestly good one.
One of Pittsburg's millionaires COM
menced his business career by peddling no.
tions from q one-horse wagon.
Negotiations are pending for 20 acres on
the Southside for subdivision.
Julius F. Stark sold $1,000 Birmingham
Traction Dor DIS at 94s4.
After call yesterday so shares of Phila-
delphia Gas changed hands at 1875.
Movements in Really.
A. J. Pentecost sold lot 60xl20 az Char.
tiers. with three two-story frame dwellings,
for the Edward Dawny estate, for s., ,5es
8. A. Dickie & Co. sold for George S. Full
mer, to J. P. Fleming, lot on Lincoln ave-
nue., 25xIs9 feet, for ST. 500
j. c. Reilly sold through the agency OF
EIderkin & Co., for James NC
Millen. to G. F. Warden, OF Greensburg.
three lots, 25xlo0 each, on Bellefonte street,
for s., 800.
Black & Baird sold through A. 2. Byers q
Co., for Mrs. Margaret 7. McMasters, the |
property 165 Arcn street, ALLEGHENY with a |
brick dwelling and also small |
frame mouse on Gne rear, Win lot lux 100 feet.
for s4.45O cash. > The purchaser was MI.
Morrow. |
W. A. Heron Sons sold lot No. in Will |
klns estate. third plan, at Williamsburg, size !
50x 40 feet, for $50. |
George A. Murdock sold for B. Haggi a |
three-room house and a lot s0x90 Is, for |
5, 500 cash. |
S. J. Fleming sold the A. Hastings prop |
srty, corner of Webster avenue, Logan and |
Wilson streets. 81 feet on Webster and viii |
son streets. and 9l.S7 on Logan street. with |
six two-story brick houses and four frame |
houses, now renting for about 81, 900 per |
year, to Samuel w. Black for so 600. He |
also sold for s. w. Black toJ. E. Glass. five |
lcres of ground on Flowers avenue, Twenty |
;hird ward, back of HaZelwood for 81. 600
Mr.. Glass will improve the same by sub
dividing into lots and building houses for
sale.