Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-27
Speculation a Small FACTOR.

community that exists scarcely anywhere
| else.
Speculation q Small Factor.
Speculation in real estate appears to have
overleaped itself in Chicago. The Tribune of
that city says: $50 far as acres are con-
cerned the pace last year was too rapid and
it carried them too far. In some instances
they have already got to a point where the
present holder is the last man and is likely
to have an ample opportunity to become
thoroughly familiar with his property be-
fore he finds buyer who will take it off his
hands at a price which will give him q
profit" This is the usual result of crowding
the market. 1t is different in Pittsburg.
The speculative element here is scarcely
visible to the naked eye. Acreage has been,
and is being, absorbed for use almost as fast
as put on the market. There is no chance
for congestion in a market of this
kind. 1t will be a long time be-
fore Pittsburg is oversold and overbuilt. In
the meantime local capitalists should turn
plying the demand for houses so as to afford
Accommodations alike to citizens and out
siders who desire to locate here. Brawn
and brains and capital would come in far
more rapidly if the same Inducements as are
offered In other cities were held out to them.
Pittsburg is the only city in the country
where it Is impossible for outsiders to obtain
Credit Where 1t Belongs.
Pittsburg is largely indebted for her pros
perity to the real estate agents. Not many
years ago the real estate business of the city
was transacted by lawyers as a side issue.
Now very little business is transacted by
principals themselves, and when one visits
town, either to establish an enterprise or
rent house, he goes at once to the real
estate agent Wherever the real estate men
l,o haar o1ln
erty has increased in value immensely, and
those cities which have grown the fastest
have been most directly under their influ-
ence.
Business News and Gossip.
W. j. Hartman was the purchaser Of the
Mrs. John Mckee property, on Negley ave-
nue., reported in this column short time
ago. The consideration was $4,000.
Ira NJ. Burchfeld has sold II lots in his
Oliver Terrace plan, Twenty-third ward,
since it was put on the market, about ten
days ago.
Activity in the lot market shows that the
army of home-seekers is on the increase.
Ellsworth will soon be the center of pop
ulous district. Lots are in active demand,
and a number of buildings will be COM
menced as soon as the strike Is over. ,
Granger stocks are rising in favor on pros
poets of large crops.
= Major A. j. Pentecost has ten houses well
under way in Valley View Place, CHARTERS
Railway, ,,and will soon begin work on ten
more. All of the first lot have been engaged.
Lots are selling there very fast.
Baxter Thompson & Co. have just put in
the largest safe used in the real estate bust
ness in Pittsburg.
plan, Homewood, by Black & Baird, will
take place this afternoon at 2 O'Clock.
Lead Trust was up trffie yesterday which
caused many Pittsburgers to smile.
RQilpu n
20 shares of Pittsburg, Virginia and Charles
ton Railroad stock at $45, $50 scrip, same
company, at 80, and an interest in Forest
county real estate at 800.
The piping of natural gas to Chicago has
proved to be a failure.
Less than $l,OO0,0O0 gold will leave New
York by to-day's steamers.
Henry M. Long bought and sold 3l5 shares
Pittsburg, Allegheny and Manchester Trac-
tion Company stock at 375z@3S.
The Building Record.
Permits for the erection of the following
buildings were issued yesterday:
Paul Decker, frame addition two-story-
dwelling, l9x19 feet, on Mclean avenue,
Thirty-flrst ward. Cost, $3.50.
Wilson Snyder, frame two-story dwelling,
1exN feet rear Gloster street, Twenty-third
ward. Cost, $500.
dwelling, 2OxS2 feet on Allequippa street.
Thirteenth ward. Cost, 8, 900.
- Salzman, frame two-story stable, 2Ox40
Cost, $500.
j. L. Boyd, two frame two-stcry dwellings,
19x30 feet each, ON Almeda street. Twenty
third ward. Cost, 81, 200 each.
L. Gliesencamp, frame two-story stable,
9Ox22 feet, rear Liberty avenue, Twentieth
ward. Cost, $780,
Movements in Realty.
S. A. Dickie & Co. sold for William More
land and F. 81. Speer to T. D. Davis an i'm
proved property on Euclid avenue, lot 21x95,
with a six-roomed frame house, for s. 900.
Sloan & Co. sold property on Yew street,
Twentieth ward, for Otto Dahlin to Adam
Raithel for 5000; also lot on Rosetta street,
in P. B. McWilliams' plan, to John Humas
for S425.
A. j. Pentecost sold lot 226 in Pentecost's
plan, Valley View, CHARTERS Valley Railway,
for 500. Lots at Valley View are going rap
idly.
Loomis lot 20x225 feet on Boggs avenue
chaser assumes the street hen if there be
any. This Is the second lot sold lately by
them for Mr.. Loomis. The purchaser wifi
build soon.
Reed B. Coyle Co. sold lots Nos. Is, 10 ahd
20 in Reed B. Coyle's plan at Marion station,
ward, being 66x9s feet more or |
less, for 81, ,275. |
s. Pope two lots 22xl00 each, being Nos. and |
10 in Orchard view plan, East Street, Alle- |
yheny, for $780, on monthly payments.
HOME SECURITIES.