Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-04-01
DRIFT OF BUSINESS.
Railroads Preparing TO Handle
Larger Volume of Traffic.
PURCHASE MONEY MORTGAGES.
Sickness Among Real Estate Agents Dis.
closes Their Importance.
THE NEWS AND GOSSIP OF THE CITY

THE NEWS AND GOSSIP OF THE CITY
1t is understood that the Baltimore and
Ohio Railroad will soon begin the erection
of roundhouse, shops and Offices on the
ground recently purchased at Glenwood.
The Pittsburg, Virginia and Charleston
road is building machine shops and making
other improvements at the new town OF
Dawson. 1t was mentioned few days ago
that local railroad had purchased tract
of land near the city for yard and switch
purposes. Although nothing definite has
leaked out in regard to this deal, the road
in question is supposed to be the Panhandle
and Sheridan station the place. Considerable
significance attaches to these movements. The
fact that the railroads find it necessary to en-
large their facilities to meet the growing ee,
mands of business. is satisfactory evidence OF
prosperous condition of things in PittsDurg
and Of confidence in the future.
Purchase Money Mortgages.
There are people who look upon mortgage
as the last resort to obyiate disaster, just as
ships crew sacrifice everything to save the
vessel going down in the storm. This Is true
when the mortgage is placed 10 raise money TO
engage in hazardous business, or in speculation,
but not otherwise. There is very little of this
kind of Indebtedness in Pittsburg or Allegheny
county. Purchase money mortgages are poor
mems investments. In placing them they an
ticipate the capital which they represent. The
cost is met from the increments of business or
labor, and the principal forms fund to fall
back on in case of need. Such mortgages have
a market value the same as bonds or stocks.
for they represent substantial improvements
in the way of new buildings or betterment OF
81
perity of the city. The money thus invested is
fixed capital, and not subject to the exigencies
of ordinary trade. A purchase money mort
gage is not in the true sense an increase OF In
debtedness. The man who, by such means,
changes his position from tenant to proprietor
cannot justly be said to have added to his bur
den. On the contrary, he has put himself in
way to own the roof over his head as a pro-
vision against sickness or old age. Purchase
money mortgages are all right. they are
transforming Pittsburg into city of homes.
Real Estate Agents.
Probably half of the real estate agents Of
the city are suffering from the grip. Some are
confined to their homes and others are barely
able to be about. Some of them feel like
hustling. This accounts for the paucity OF
transactions during the past few days. There
is nobody to push business. What could bet
ter set forth the value of the real estate agent
to the business interests of the city than the
active duty restricts the volume Of trade?
Were he to withdraw altogether real estate
would soon cease to be leading interest.
Some people go upon the principle that agents
are not essential to transfers, and that property
would be bought and sold without them. That
is true to an extent only. The agent has his
list of buyers; he makes business Of 1t, and
saves the buyer the trouble and time involved
in going from house to house for something to
suit him. This expedites business. The fact
that nearly all the business in real estate is
now transacted through agents proves their
Importance to the community. The real
estate agent is doing good work and he is
here to stay.
Business News and Gossip.
There were ten rainy days in March.
Contracts for five business houses on Franks
town avenue and Station street, East End,
we're signed at the office of Black & Baird yes
terday. The owner is Miss Mary z. Semple.
7. C. Mckee is the architect
Plans are being discussed for two school
houses in the Fourth ward, Allegheny.
The firm OF Z. Beringer & Son has been
changed to w. C. Beringer & Co., the former
senior putting his son at the head, to give
him opportunity to devote more time to his
personal interests.
An excursion train, under the direction of ].
F. Baxter, of Baxter, Thompson q Co.. will
leave this city on the evening of the 7th. con-
yeying large number of Pittsburgers to Syla-
cauea, Ala, to attend the opening sale of build
a
have been secured.
Reed B. Coyle d Co. are about closing Sl0.-
600 deal in coal land.
1t is understood that before the Boston di-
rectors of the Switch anG Signal Company left
for home thev made an offer to sell their stock
to the Westinghouse people, and that this is
now under consideration.
Ira NJ. Burchfield made short move. He
did not change his number, but traded up
stairs for downstairs rooms, which are nicely
fitted up.
The Building Record.
The following permits for the erection of
new buildings were issued yesterday:
W. r. Kuhn, brick, one-story and basement
store, 3Ox6O feet, on Penn avenue, Twentieth
ward, cost 81, ,00O
Charles Flynn, two brick two-story and
mausard dwellings. 171lx34 feet each. on Wylie
avenue. Thirteenth ward. cost 1881.
Mr. Oldenhausen, two frame two-story dwell
ings. l4x32 feet each. on Mignonette street,
Twentieth ward cost 81, $50.
Jacob Pfeil brick addition, two-story store,
l5xz4 feet, OIL Bradford street, Twenty-ninth
ward. Cost, 5000.
Charles Kittner. frame two-story stable, ok
% feet, rear bennington avenue, Twenty-tirst
ward. Cost. $500.
Richard Nein. two brick two-story dwellings,
15x31 fee: each. on Erin street, Thirteenth
Randolph Dewald frame two-story dwelling,
2OxS2 feet, on Dauphin street, Nineteenth ward.
Cost 81 500.
Richard SInkenbrink, frame two-story and
attic dwelling. 20x32 feet. on Dauphn street,
Nineteenth ward. Cost, 81. 500.
Otto Grossman, frame two-story and attic
dwelling, 20x32 feet, on Dauphin street. Nine
teenth ward. Cost, 81. 500.
Henry Auction Co. remodel brick three
story business house. 40x6O feet on Ninth
street. Fourth ward. Cost. s., 5O0
I. ]. johnson. frame one-story stable, 20xl5
feet on Cabot way Twentieth ward. Cost, $50
Movements in Realty.
A. z. Byers Co. sold for Jennie R. Coltart
and Jessie c. Sraco to Joseph Huttinger,a a two
story brick house of nine rooms hall, and fin
isheG attic. with lot SSx6O feet. being the prop
erty No. 81 Erie street. corner OF Montgomery
alley, Third ward, Allegheny for So go
Black 4 Baird sold for Mrs. Aimee LambIe
to A. B. Kerr property on Main street. Seven
teenth ward, on the corner of Gordon alley,
with lot 57xS5 feet, and three brick buildings
thereon. for $500 spot cash.
s. A. Dickie & Co. sold for w. E. Ray to
Homer Bowes a lot in Bank of Commerce ad-
dition, on Kelly street, Brushton. 4OxlS7 Ssl00,
for $780,
MONEY MARKET.