Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-15
A GOOD BEGINNING.
The Weeks Trade Opens With Favor
able Conditions and Prospects.
CONTINUED ABUNDANCE OF MONEY.
Several Interesting Events Brighten the
Day on the Local Exchange.
OFFICE AND STREET NEWS AND GOSSIP


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OFFICE AND STREET NEWS AND GOSSIP
The weeks business opened under favor
able conditions. At the banks there was a
fair call for Accommodations, but the supply
of funds was abundant and the market con-
sequently easy. In regard to money, an
Eastern authority remarks: "Perhaps the
most encouraging feature Of the financial
situation is the continued abundance of
money and the growing ease in rates both
here and abroad. During the past week
call loans ruled at 2 to 81 per cent, with
the majority of transaction at 215@3 per
cent. Time money is offered more freely,
and lenders are less discriminating as to
collateral" This very accurately reflects
the situation ut Pittsburg. But with a
| good prospect of revival in the iron trade
and other important activities early in the
| new year. Conditions are liable to reversal
not to the point of stringency, but suffi-
cfently to cause f1nancierS to scan their
collateral little more closely than they are
now doing.
New Enterprises Started.
The United States Corporation Bureau re-
ports the weekly list of new, completed cor
porations in the United States for the week
ending December 4, 1891, as follows: Total
corporations, PA. Total capitalization, $780,
Al, $50, distributed as follows: Mercantile
and manufacturing companies 96, SO, ,702, $50;
banks mot nationa) and investment COM
panies 7, 81, $50. 900; national banks Ito No
vember 25) 4, $500 900: gold, silver and other
mining and smelling companies q, s1l.077,-
600: coal and iron Companies !, $4,000 600;
COM
panies II, 81, S27 900; building and loan aSSO-
Citations IA, s1,075, 900; irrigation company !.
$1,000; miscellaneous companies 81, $9'OlS,OcO.
New Markets for Anthracite.
The best feature of the coal trade year Is
that, although the aggregate production of
anthracite has been the largest on record,
the output has been absorbed and the prices
obtained for it have actually averaged higher
than the record OF recent years. New ave-
nues for the consumption of the Pennsylva-
mia product have been opened In the ex-
treme Eastern States hard coal is rapidly
displaciLg wood for all domestic purposes.
while the enormous amount of anthracite
which has gone West this season shows that
throughout the prairie States it is becoming
more Of a necessity instead Of luxury. This
is continuous process, as wherever the con.
sumption of anthracite is once established
the public will not go back to less econom-
ical or cleanly fuel.
Big Railroad Earnings
Railroad reports continue to show favor
able results. For II months the total Of
gross earnings for the present year ex-
ceeded $456 O00, ,000 or 81 per cent more than
in IL months of 1890 The Granger Eastern
Pacific and Grand Trunk Line make the best
exhibit. In this connection it may be noted
that a s1O,O 900 mortgage from the Cleve-
land and Pittsburg Railroad Company to the
Farmers Loan and Trust Company has been
filed at Cleveland. 1t is given to secure an
issuance of bonds to the amount named in
the sum, of s., 900 each, to pay on old debts
and to further improve and equip the road.
Business News and Gossip.
The Allegheny County Light Company
commenced operations at their new station
last night.
Some recently quoted Penn avenue values
are far from the mark. Foot frontage on
that thoroughfare is considerably below
$1,000.
The Central Traffic Association is consider
ing the advisability Of abolishing second
class passenger rates altogether.
Cars on the Sharpsburg electric road are
running regularly, and all are crowded. So
far there has been no trouble at the Butler
street extension hill.
The Board of Directors of the westfng-
house Airbrake COMPANY, at a meeting yes
per cent out of the earnings of the com
panv, payable to the stockholders of record |
on January TO- 1892 Transfer books will be |
closed from January TO 10, both inclusive. |
Bailey Moon have sol6Sl lots at Reflec-
torville Castle Shannon Railroad, within 90 |
days The NJ. E. church there has been COM
now Catholic church is to be erected at |
Devon, Pa. |
The largest building permit issued yester-
day was % TO j. li. B. Chalmers. for brick two
Twentieth ward, to cost s3. 1885, Four others |
aggregated $3.50.
a stock specialist saws: Favorable none |
tary prospects strengthen the marked for |
securities, especially as 1t is evident that |
disbursements in dividends, interest and |
profits about january will be large and |
will seek new Investments" |
Messrs. j. and W. Seligman & Co. and Matt |
land, Phelps Co. have purchased the |
Denver City gas plant. The price is under |
stood to be between 81, 800 900 and 81, ,o00OO |
cash. |
The Oregon Railway and Navigation Com
pany will pay dividend Quarterly of X |
per cent on January2.
Upwards of $780, 600 gold was received in
New York yesterday from Europe.
Movements in Realty.
The biggest auction sale of vacant land |
ever held in Boston took place at the Real
Estate Exchange last week, when $50, 45s feet |
of land about the Back Bay Fens belonging
to the Boston Water Power Company, sold |
for s., ,026 ia so. an average Of 50 SO a square
foot. The highest price paid was $6 10 for a
lot of 7,6N feet on the corner of Boylston
street and the Fenway, with a frontage of
l4O feet on the former.
Baltensperger & Williams have sold four
more lots in the Weinman plan, Mt WASH
ington, being Nos. 81, e. % and "a, each front
ing 25 feet on Southern avenue and running
back JOS feet to Mrs. L. Y. Wilson, for 81, 400
John McDermott sold for Captain John
Moran to Mrs. Richard Wall on Oneida
street. Duquesne Heights, a lot 5Oxl30 run
ming back to a so foot alley, with a house of
nine rooms, all modern improvements, for
S6 500.
Black & Baird sold to NJ. Roberts lot No.
in the L. Delp plan, at West Bellevue, hav-
ing frontage of % feet on Lincoln avenue
BY depth Of los feet to 40 foot street, for
W. A. Heron & Sons sold lot 5oxl2o feet
on Braddock avenue, near Hutchinson
street. being lot No. in the third plan of
wilkins estate at Edgewood, near Pennsyl-
vania Railroad and Duquesne traction line,
for $3.50.
The BurreIl Improvement Company re-
port the following sales: Henry Otto, lot 80,
block 6, $s25: Robert Cochran, lot IA, block l3,
1880 cash; Daniel Linkes, lot l39 block7,
1925 cash: John Aepley, 10 feet north n and
10 feet south, lot 7s, block 8, $4ss 75.
Burtt & Sweeny sold to we'll known busi-
ness lady of Pittaburg for James Nesbit of
Allegheny, property No. 26 Clarrissa street,
Thirteenth ward, being a six-room frame on |
ot 24x15O to an alley. for $1,000.
THE CASH DRAWER.
Plenty of Funds to Meet All Calls-Rates