Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-21
NO KANGAROO JUMPS.
Realty Over One Hundred Years
Reaching lis Present Level.
ADVANCE SLOW AND PERMANENT.
A Flood of Orders for Electric Stock Shows
That the Buyer Is Abroad.
THE NEWS AND GOSSIP OF THE CITY

THE NEWS AND GOSSIP OF THE CITY
In answer to the question, Is there any
reason to apprehend a drop in values Of
local real estate? prominent business man,
who is a frequent buyer, said yesterday:
"No. 1 think such a thing impossible,
under existing conditions. Purchasers have
been, and are, proceeding cautiously. They
want the lowest figures possible, but recog-
nize that increase in population and busi-
ness makes old prices out of the question.
The enhancement of values is the result Of
| legitimate demand, backed by abundant
capital, for which no investment equally
safe and profitable can be found. The
rapid growth of the city demands
the constant enlargement of its bound
aries and the erection of thousands
of dwellings every year to house the
people. This, of itself, is sufficient to hold the
market So long the city is not ovsrbuilt-
| in other words, so long there are two or
three applicants for every vacant house-there
is no probability of a shading of prlces. A
slump in the face of such demand as is known
| business. Prices have not moved up from the
old level by kangaroo jumps, but feisurely,
| merely keeping step with progress in. other di.
! rectious. In some places property has leaped
almost ont of sight in single season; Pitts
| burg real estate has been more than 100 years
| reaching its present moderate altitude.
Il started out by saying that had no fears
! of a break in prices, and have given lew
reasons for thinking so. If those who think
differently will carefully survey the situation
| think they will come TO the same conclusion.
| 1t would be foolish to judge the whole year by
| the business of the first month. with legacy
| of depressing influences and some fresh ones
added. These are disappearing gradually, and
| there is reason to believe that business of all
dence of the correctness of my position is
| found in the fact that there is scarcely piece
| of property in the city and suburbs that could
| be purchased to-day Tor the price paid for it
| for apprehending turn in the tide owners
would be quick enough to make concessions"
Business News and Gossip.
Business continues to move out Fifth avenne.
Another grocery store will open up near the
market house in short time.
At the annual meeting of stockholders of
the Union Transfer and Trust Company yester-
day. the following directors were chosen: A. W.
Mellon John G. Holmes, e. r. Mckee, George
L Whitney. Edward House, George P. Hamil-
ton, John Walker, John Porterfeld and J. NJ.
Schoonmaker
4 house Locust street. Pittsburg, has
changed ownership six times within three
years.
been selected by large syndicate to carry on
negotiations in a deal involving large manu-
featuring interest. and our Major Glover Is now
IN Chicago on this business"
Directors of the German Savings Bank
elected Yesterday, are Charles Meyran J. F.
Joseph Abel, A. Groetzinger, Charles f.
Schwartz, Peter Dell and H. Il. NIemann.
same time, are: J. J. Vandergrift, Joshua
Rhodes, 6. NJ. Laughlin, Henry Fisher, w. II.
Nimck, ]. /. Buchanan, j. w. Craig. e. +.
Klopfer and c. w. Bachelor.
The upturn in the price of Electric stock Is
practical evidence of returning confidence in
the ability of the company to weather the
storm.
The annual election of the Pirtsburg, ALLIE
gheny and Manchester Company will be held
JanuarySl
The Schoonmaker mansion is now the prop
erty of Calvary Church. The exact price paid
James W. Drape & Co. have secured an op-
tion on the large room No. Sl3 Wood street.
auction salesroom. Mr.. Drape says: This is
not with a view to antagonzing the organiza-
tion just formed here; but deem it unwlse to
me that the interest of my patrons can be best
promoted by continuing on in my own way Of
doing business"
Building Record.
The following permits for houses of moderate
cost were taken out yesterday:
James Young, frame one-story kitchen, 10x12
feet, on Mclean avenue, Thirty-first ward.
Cost, $40.
Albert Mackert, frame two-story dwelling,
19x32 feet, on Lincoln avenue, Twenty-frst
ward Cost, s., 900.
w. F. Patterson. iron-clad one-story machine
shop, 120x1zS feet, on Elizabeth street. Twenty
third ward. Cost $1,000.
Michael Finnegan, frame two-story dwelling,
1920 feet, on Jones avenue Twelfth ward.
Cost s275.
w. c. Gundelfinger. brick and frame three
story stable and dwelling, 24x2O feet. on Station
street, Thirty-slxth ward. Cost s., $40.
K. Klebansky, brick addition two-story dwell
ing, l4x16 feet, on rear Townsend street, Seventh
ward. Cost. s4l5
CM. Crowthers frame two-story dwelling.
20x32 feet on rear of Kirkwood street, Nine
teenth ward. Cost, $1,000.
IS
Movements in Realty,
J. B. Larlin d Co., sold to Liberty street
business man a lot 50xl05 on Oakland avenue,
and 50xl0O on Atwood street. for S, COO. This is
part of the Yoder homestead and Is said to be
one of the prettiest sites in Oakland. A fine
stone residence will be erected on the Oakland
averu; front as soon as the weather permits.
Samuel w. Black & Co., sold four more lors
in the Blair estate, Hazelwood, on Elizabeth
street near Gloster street, size lOOxl20, for
price appro1imating 5000. A light manu.
factory, employing so mep. will be erected at
once on these lots and expects to be in opera
ton by April l.
A. J. Pentecost sold lot 49 in Pentecost's plan
of Valley View, Charters Valley Railway with
q two-story frame dwelling. for 1926.
Allies & Bailey sold for Ed McGovern, No.
2lS Erie street. a brick house of five rooms etc.,
lot q feet by lis to 2U-foot alley, for 81, 800
cash.
Baxter, Thompson & Co. sold through the
Office of $. A. Dickie & Co. lot No. l58 in the
Bank of Commerce addition plan, at Brushton
station, fronting 50 feet on Brushton avenue by
130 feet to 20-foot alley. for SLl50.
Black & Baird sold to James s. Atkinson for
the Peoples Savings Bank, two lots on Carson
street. near Twenty-sixth street, Southside
each 24xl20 feet for SI.e00.
W. L. Hamnett Co. sold a lot on East End
avenue for James P. Quinn to W. F. Gardner,
25xl20 for 5000.
VIM. Petty q Co. sold another one of those
six-roomed brick dwellings. with all improve
ments, situate on Glouster street, Hazelwood
The purchaser was Dominick Cawiey and the
consideration s., 500
John K Ewing & Co. sold No. Is Garrison
street, near Buena Vista street, second ward,
Allegheny, consisting of two-story frame
house of six rooms hall and attic, lot 2lxl3O to
Norman street. for B. B, Dunlap, to William c.
Riddle, tor 81 $50 cash.