Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-26


tant rents, when not required by the legiti
mate demands of business. This has been
carried to such an extent that many of these
| superf1uous houses are vacant. PittsburR
is full OF buildings, big and little, just fin
| ished or under way, but they are absorbed
as fast as they are made ready for occu.
pancy, the only exception being that OF
| hfgh-clasS dwellings,, which are perhaps, in
| advance of the demand. Business houses
and small dwellings, as everybody knows,
are short of requirements. The first case
| remains to be reported of judictous in
vestment in Pittsburg realty resulting in a
| loss.
Conditions Favor a Revival.
The forward impulse in other lines of
trade must inevitably react on the real
estate market. Every part OF the city is full
of push and enterprise. Trade is active.
| Non-residents are making investments in
business and residence properties with Il
view to locating here. The rapid transit
| system, already the best in the country, will
soon be reinforced by several additional
| lines will penetrate new districts aud estab-
lish new settlements in the suburbs. 1t is
| fair to predict that the sale of business and
| residence property in the next year or two
| will exceed anything heretofore known. All
signs point to a large influx of people.
Extravagant Ideas.
The following from a Fourth avenue
broker is to the point: "Too many persons
| seem to think that all they have to do to get
rich is to buy real estate wait a week or two
and get whatever price they may ask for it,
and feel blue II they don't. This is all wrong.
There really is no speculation in land like
there is in bonds and stocks, as 1t is the
basis of all loans and the price is controlled
by the demand, use, ETC.; and because real
estate is not going upsl or 50 per foot front
every month and tho owner can't realize a
great enhancement in u short time is no
evidence whatever of the market being dull
or prices weak"
Business News and Gossip.
There will soon be an unbroken line of
building between shadyside and East
Liberty.
Changes to the Hostetter building are ap-
preaching completion. The elevator will be
completed to-day.
1t is rumered that several large European
orders are in the market to buy silver.
Seats on the New York Consolidated Stock
and Petroleum Exchange are reported as be-
ing s4O0 bid.
Messrs. Rea Bros & Co. still have hopes of
making such q settlement with White & Co.,
as will enable them to resume business.
The interest on the second mortgage bonds
of the Western New York and Pennsylvania
Railroad, due October ], will be paid in scrip
at the rate of per cent per annum.
Walter Morris reports that sales of lots at
Moundsville, W. Va, on Wednesday, aggre-
gated $6s $50.
The last bond of the old seven-year $3.50 900
issue has been signed and turned over to
the Allegheny County Light Company and
the work of ex .anging S250,000 of the new
$500 ooo 2o-year issue for the old issue, bond
for bond, will be Immediately commenced
by the Fidelity Title and Trust Company.
The following from local broker is not
far from the point: People who will specu-
late had better stick to such securities as
are handled on the Pittsburg Exchange
Although some of them may be rather
damp, they are tangible properties and
possess value which is recognized in the
money market"
The tobacco year at DanviIle, Va, closes
October ], and the sales will foot up 40 OO0,-
600 pounds. the largest ever made in a single
year.
Walter Morris and Thomas W. Aisbitt
have formed a copartnership for dealing in
real estate Both are well and favorably
known.
John D. Bailey yesterday sold % shares of
Mechanics National Bank stock at 1l216.
At the last call yesterday, Birmingham
Manchester was offered al 3s, with S75l bid
There was a bid of S5 for Pittsburg and
Belleyernon Coal Company stock.
Movements in Realty.
Hoffman & Baldridge sold a new frame
house of six rooms, with lot 5Ox17O, on Ella
street, Williamsburg, for So 200.
Reed B. Coyle & Co. sold lots Nos. II and Is
in the Grafton place plan, ut Grafton, Pitts
burg, Cincinnati, Chicago and st. Louis Rail
way, 100 feet on Margaret street by $50 feet
in depth, for $1,000
Black Baird report the following sales
in Ellwood: To Brenner & Duncan, lot SOL,
for $4oo; to D. Cunningham, lot 54J, for s625;
to L. w. Luton, lot $40, for $500.
Charles Somers & Co. report the following
additional sales of lots at Blaine: P s. Ober-
dorf, Southside, lot 81, in block 10, s4GO: w.
a. Ryland, Southsde, city, lot 55, in b. ock TO-
500: 4. Chase, South Bethlehem Pa, lots 90
and 81, in block S, 5000 each; Sarah E. Chase
South Bethlehem, Pa, lots IS and 50, in block
8, S4OO each: ]. c. Chaffie, Allegheny, lot so, in
block 8, 800 each; Joseph Zerfing, city lot
3d. in block II, $780, Richard Weimer, city,
lots 80 and SO, in block II, $3.50 ana $500 re-
spectively; John Clark, Jr., Wheeling, W.
Wheeling. W. Va. lots IA and Is, in block s,
$4O0 each; J. r. Stultz, city, lot 81 in block
10 $500; T; Donohoe, Allegheny, lot 81, in
A. J. Penteco.t sold lot ls5 in his Valley
View place, CHARTERS Railway, for 1915.
George Schmidt sold another ve-roomed
house on Lookout avenue, being on lot No
Joseph Jedlicka for s., 900.
James W. Drape & Co. sold large lot on
Perrysville avenue and a small house on
Hanlon street, Allegheny, for So S25: also sew
eral lots in the town of Avonmore at from
$3.50 to $3.50 each; also three lots in The Kew
stone plan, Grafton, for s., 900; also an inter-
est in a residence property in Allegheny of
5000; also n number OF lots in Munhall Ter
race plan, near Homestead, at from $500 to
800. The sales in this plan thus far foot up
$I5 00J.
Baxter, Thompson & Co. sold lot 60. in
Ruch Place plan, fronting % feet on Kirk |
patrick street and extending back ITO feet,
for S400.
A T. Byers & Co. sold for Mrs. seloma B.
jenkins to John Lauton a new frame house |
of six rooms. with lot 37l4x96 feet on Du- |
Quesne avenue, Duquesne Park, Tenth ward, |
Allegheny City. Consideration, 81, ,3oO
s. A. Dickie & Co. sold for Mrs. f. E. Pal |
mer, to Thomas Marshall. a store and frame |
residence on Marchand street, East End, lot |
50Xll7 feet, for SIS eco.
The Building Record.
Three permits were issued yesterday for
the same number OF improvements, involy- |
ing an outlay of $l,775.
John Bradley frame addition two-story dwell |
ing, on Lincoln avenue, Twenty-frst ward; cost,
$s25. Adam Diehl, frame one-story store, on |
Mary street, Twenty-fifth ward: cost, $780, John |
Sieoert, frame two-story Kitchen. on Sarah street.
IN..w -nA- 1