Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-25
DRIFT OF BUSINESS.
The Check to Last Years Bulge a
Good Thing for Real Estate.
A GOOD TIME SURELY COMING.
The Plumed Knight Honored by Having q
New Town Named After Him. Z
FEATURES OF LOCAL SPECULATION

1
pare favorably in number and value with
those of the corresponding period last year,
| This lull, if so it be called, is really bless
| ing in disguise. 1t has checked undue ex-
pansion of values and clipped the wings of
| speculation, features that were alarmingly
prominent last year. Buying for use is now
the rule, while prices are on a substantial
| basis. Besides it has extinguished false
hopes of immense profits in short time and
| eliminated the element of excitement, than
| which nothing is more fatal to permanent
| prosperity. On the whole, the check of the
| bulge of 1890 has resulted in destroying the
visionary element of the market and placing
it on perfectly sound basis.
A Good Time Coming.
Those watching the stock market say the
situation abroad is yet too full of unsettling
influences to warrant the immediate spring
ing up of activity there, but with each re-
curing day conditions are nearing the point
where the export of breadstuffs is certain to
diminish the ability of Europe to draw the
precious metal from this country, and, there
fore, it is fair to expect that business in
stocks and bonds will revive before the ex-
piration of long period. The future pros
promise to be the largest ever raised, large
European shortage is conceded, and the
hand to mouth business in securities from
day to day is assurance that long stocks are
not pressing for sale.
Another New Town.
The Blaine Land Company, of which
Charles Somers s. Co. are the chief pro-
moters, is meeting with good success in
opening up large tract of land 300 acres,
adjoining Elizabeth on the Pittsburg, Nc
Keesport and Bellevernon Railroad and
Monongahela river, and founding new
town to be named after the distinguished
Secretary of State and possibly future Pres
ident of the United States. The American
Vault: Safe and Lock Company, an enter
prise just started by Pittsburg and Chicago
people, is erecting plant on this tract, a
site for which was secured a short time ago.
and is thus the first to break ground in the
new town. The concern has strong f1nan-
cial backing, and will manufacture every
thing in its line. The plant when fully de-
veloped will be one of the largest of the kind
in the country. The buildings when all are
completed, will cover ten acres. The com
pany expects to have machinery in motion
within so days. About $50 men will be en-
ployed at first. but the number Will be in
creased to /, 900 or more as buildings are COM
pleted and the capacity OF the works en-
larged.
wastington's Real Estate.
In the first number of the American, pub
lished August 20, 1773, Colonel George Wash
ington, under date of mount Vernon in Vir-
ginia. July Is, 1773," advertises as follows:
"The subscriber, having obtained patents for
upwards of 10000 acres of land on the Ohio
and Great Kanawha, proposes to divide the
same into any sized tenements that may be
desired, and lease them upon moderate
terms" The following sentence shows that
the language of the real estate agent was
handled by the great Virginian:
cit is almost needless to premise that none |
can exceed them (the lands( in luxuriance
of soil or convenience of situation, all of
them lying upon the banks either OF the Ohio
or Kanawha, and abounding with fine fish
and wild fowl of various kinds, as also in
most excellent meadows, many OF winch (Dy |
the bountiful hand of nature) are in their |
present state almost fit for the scythe."
Business News and Gossip.
Captain Sam Brown denies, with consider
able emphasis, that he is dickering for prop |
erty on Water street
There is very little Smfthfield street prop |
erty on the market. Owners of two pieces |
below Fifth avenue said yesterday they |
would sell if they could get their price, but |
were not looking for customers.
The dividends on the various Vanderbilt |
stocks will be declared to-day.
Holders of local stocks show an indisposi- |
ton to let go under pressure, and the only |
advantage gained by the operators forlower |
prices is the checking of new ventures, and |
q suspension of aggressive support.
In the item referring to Mrs. Watsons do |
nation, the reading should be Mission Sun
day, not Seminary" School.
The Edison Electric Illuminating Com
pany has filed with the Secretary of State, at
Albany, a certificate that its. entire capital
Of 81 100000 has been paid in full. the last in
being ss2 200 paid June 6, 1891.
field for the Christ Church property and it is
ikely that one of them will get it. Joseph
Horne will probaly put in bid, but he has
llso in view another site on the same ave-
hue.
Kansas farm mortgages paid off in May ex-
seeded the new ones made by $2l3,461 or "a
Der cent, and city mortgages redeemed ex-
,eeded new ones SAL ,37s, or IA per cent. Only
,ix counties out of A showed any increase of
lew mortgages over those released.
Ten acres on the pike short distance be-
7ond Williamsburg are about changing
hat locality 40 years ago.
In Germany there is a widespread opinion
hat the United States will soon draw gold
rom Europe.
Harvest is in full blast in Kansas, Missouri,
southern Iowa, Illinois and Indiana, and the
weather. perfect.
ividend is due in August, but it is under
TODD that no action will be taken on it until
-uly.
The sale of property at the Auction Board
ooms to-day will be closely watched by all
Interested in this new departure in the man |
er of handling Pittsburg real estate. Il
1t is stated that the Citizens Traction Com |
ANY will declare per cent dividend about
he last of July.
On call yesterday Hand street 5s were Of
cred at'104 and interest. Philadelphia Trust
vas offered at 12A
The Washington Oil Company has declared
dividend of per cent, payable July l.
According to the Boston Globe of Tuesday,
ls5 shares Of Westinghouse stock had been
laced on deposit up to Monday evening.
The new steel bridge which the Union Pa
ific Railroad Is building across the Colum-
ia river at Vancouver, Wash, will be 5000 :
eet long and will cost more than 81 100000.
The Building Record.
Permits for the erection of the following
uildings were issued yesterday:
T. Brent Swearinger, ten brick two-story
1611ax29 feet each, on Larkins alley,
'wenty fourth ward. Cost, 50 900 for all.
William ohm, brick and stone two-story
nd mansard dwelling, 21x33 feet Niagara
treet, Fourteenth ward. Cost. s., 900.
John Ley, frame two-story dwelling, I7x32
eet, on McCandless street, Eighteenth ward.
ost, 81, 500.
William Fleming, frame two-story and ]
dwelling, 1715x34 feet, on Holmes
treet, Eighteenth ward. Cost, ST 900.
John Clark, frame one two-story dwelling
'x16 feet, on Nixon street, Twent y-second
ard. Cost, about 5000.
Movements in Realty.
Charles somers & Co. sold for Kapen Xii a
.nsky and Lewis Friedberg to Thomas w.
[cCune a lot 16x1O0 feet, situated on Town
end street, Eighth ward, containing three
rick and frame buildings, for S., 500
A. j. Pentecost sold in Valley View plan
over Hill station, CHARTERS Valley Rail, !
ay, lot ~, with small frame house, for IS
As; also, lot "A, same place, for $3.50; also lot S
3, with small house. for $780,
Black & Baird sold to r. S. Voorhees, for r.
Jones the property No. $50 Meyran ave
ue, Oakland, being 21a-story brick dwell a
lg OF eight rooms, with lot 22xI4l feet
trough to Ward street for 81 750 8