Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-01
A CHANGE OF BASE.
Female College People Said to Be
Considering the Singer Place.
NEW MOVEMENTS IN THE EAST END.
The Month Closes With a Decided Rally in
Local Stocks and Petroleum.
OFFICE AND STREET NEWS AND GOSSIP

1t has been rumored for several days that
the Pittsburg Female College trustees have
had the Singer property, at Williamsburg, Of
fered to them as location for their institu-
tion. The location of the land is unequaled
for such a purpose, there being 81 acres, con-
veniently and beautifully situated. high and
dry, yet easy of access; and if desired large
part of the ground, fronting prominent
streets, could be sold at a price that would
reduce the Investment far below the cost OF
the improvements now on the property. The
advantages of this location for such an in
stitution, in the opinion of competent
judges, are superior in every way to any
thing the trustees have previously had under
consideration, and from what is known of
their intentions it is a reasonable prediction
that they will close with the affair.
East End Movements.
Real estate is of perennial interest in this
community. People not only talk, but write
about it. Several prominent East End ladies
have formed syndicate and will hereafter
invest their "pin money in building lots.
No matter what the conditions of the market
may be at other places, it is all right here.
The following signed "East End" was re-
ceived yesterday.
1.-THE question is again asked why some en-
terprising citizens do not build theater in
the East End. Well, it would be q paying
institution, and to-day we learn that GER
tain gentleman who is able and willing to
embark in the venture made an offer for a
large frontage on Penn avenue, between
Highland and Negley avenues. Property
can be bought in that locality at one-fourth
of the price asked, east of Highland, or
about $500 per foot. Our informant states
that the investor expects to make enough
on the advance in price to get back the cost
n he hnvinl-
eral extra lots.
Several improvements are also spoken of
as sure to go on soon in that section. The
American Mechanics are going to build an
imposing hall with store underneath. A
large property holder also has plans out for
four-story building. 1t is strange that this
locality has been SO long overlooked, as
property one square east has been sold for
81, 900 per foot and ST 800 refused for corner
lots, Look out for a lively movement out
that way soon."
Foreign Thirst for Specie.
The returns of the chief English joint
stock banks for the half year ended June 30
go far to explain the foreign thirst for specie.
For some years the banking institutions of
Great Britain have been running on peril
ously small specie reserves. They have de-
pended on the Bank of England. The Barring
panic has apparently awakened all hands to
the danger of such a situation. The Govern
ment and the Bank of England authorities
have succeeded in impressing on the joint
stock banks tbs necessity of increasing their
reserves. As a consequence, the latest re-
turns show that institutions like the London
and Westminster have from ! to per cent
more specie reserve than they held at the
beginning of the year. In other words. Eng
land finds that it cannot do business ON q
narrow margin of specie. 1t has increased
its specie balance and the Increase is per-
manency.
Philadelphia Company Meeting.
The quarterly meeting of the Executive
Board of the Philadelphia Company was
held yesterday afternoon. Among other
business a financial statement was SUBJ
mitted showing the operations of the COM
pany during the quarter just closed: The
statement shows the gross earnings to be
$5SS,S22 S6 ana net earnings 1925, 2l2 25. This,
allowing $1ll ,702 16 as rent paid leased COM
pany lines, leaves a balance of S2l6.5l 90.
The total assets are 1885,, OIL 73, and the un-
divided profits 81, 1872 430 80. The net debt is
s22543l S. and tota; debt 81, 262, ,641 Al The
statement shows decrease OF 81, ,40S 79 from
June in the net debt.
Business News and Gossip.
The Spring Garden district, on the North
side is badly in need of rapid transit.
Within the last three years nearly So OU0,-
900 has been expended for buildings and
street improvements in the borough of Will
merding.
The movement for a theater in the East
End is making steady progress. An offer
has been made for site on Penn avenue.
Vacant houses are as scarce on Mt. Troy
as in any other quarter of Allegheny. Busi-
ness stands are at a premium.
The trustees of the Bellefield Presbyterian
Church have placed a mortgage for $4,000
with the Safe Deposit and Trust Company.
The money will be used in improvements
on their property.
Within few months $4,000 900 in bonds
will be offered for sale in Chicago. OF this
amount $50O0,O00 will be the issue of the
Worlds Fair bonds authorized by the law of
the State of Illinois. The other $5 1000 900 will
be issued by the board OF drainage trustees
of the sanitary district OF Chicago.
1t is said that there have been more trans
fers of real estate in Steubenville this year
than in any other since 1881.
Interest on the bonds Of the following
corporations, due August q will be paid by
the Fidelity Title and Trust Company: Allie
gheny County Light Company, Butler Water
Company, Bennett Water Company, Union
Water Company of Beaver Falls, Westmore-
land and Cambria Natural Gas Company.
There were bids of 20 for Electric scrip
Yesterday. It was offered at 73
New York and London were active and
higher yesterday. The month went out with
the bulls in control.
The Building Record.
Permits for the erection of the following
buildipps uere iasuad vestardau.