Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-26
REALTY PICKED UP.
The Heirsof Nancy Collins Sell Out
to an Iron Manufacturer.
DEMAND FOR APARTMENT HOUSES
Values Of Local Securities Let Go a Little
for the Want Of Steam.
OFFICE AND STREET NEWS AND GOSSIP

A transaction in real estate was consum-
mated yesterday which emphasizes the state
ment made In this column few days ago,
that the demand for property is drifting
| south of Fifth avenue Black Baird sold
for the heirs of Nancy Collins Nos. 1S3 and
l35 Second avenue, lot 45xsO, with two old
buildings of little value, to one of the largest
iron manufacturers of the city, for $50, 900,
being at the rate of $3.50 a foot front. The
purchaser will improve his new possession
by erecting thereon a large business house.
This quarter of the city, bounded by Fifth
avenue, Grant and Ferry streets and the
river, has developed considerable activity of
late. All of Mr. E. NJ. Ferguson's recent ac-
quisitions are here, as are, also, those of
Colonel Schoonmaker, George II. Bennett
and others.
Apartment Houses Are Popular.
While little has been said of late about
apartment houses, or flats, it is well known
that several buildings of this kind are in
contemplation. Plans for one of four stories,
to contain 16 apartments, on Ohio street,
Allegheny City, not far from City Hall, were
drawn up last fall, and work on it was to
have been commenced early in the spring,
but the carpenters, strike upset the calcula-
tions of the promoters and necessitated
delay. It will likely be started early in the
fall. There is talk of an apartment house
on Washington street of about the same
size as the Allegheny structure. Several
smaller ones out Fifth avenue are being
arranged for.
AS remarked on former occasions, apart
ment houses have proved very popular in
this city. The first house of this kind was
erected on Wylie avenue about five years
ago The venture was Immediately sue
cessful, every floor being quickly occupied.
This success stimulated the new departure
and apartment houses became quite the
rage. An enumeration of them q short time
ago showed between 25 and, 80 completed
and occupied. They pay the owners from
to 10 per cent, and give less trouble than
ordinary dwellings.
The high price of ground in desirable loca-
tions in and around Pittsburg is greatly in
favor of this style of building, as ii is cheaper
to build in the air than on terra firma; and
now that the ice has been broken and sue
cess assured, there are good reasons for say
ing that many more apartment houses will
be erected in the near future; not only in the
nearby wards, but In many of the downtown
districts The "iat'' has come to stay.
Business News and Gossip.
The demand for cheap building lots is
equal to that of the same time last year.
More subdivisions will soon be put on the
market
Citizens Traction 5s were wanted yester-
day at los, but were held at 10S
Mr.. ID. P. Black and wife left the city yes
terday evening for New York, whence they
will sail for Europe on Wednesday. They
will be absent two or three months.
Williamsburg people are anxious for the
Duquesne cars to start. They think fares
will then be reduced.
The rains throughout the West, the favor
Il Nd fI,n Of
managers in the magnitude of ton
mage and earnings during the approaching
season, are the bullish factors in the share
market.
The market for bullion certificates is dull
and uninteresting, but main1cns q firm un-
dertone. The silver bullion on hand against
certificates outstanding is reported at $685.
900 ounces.
Kuhn Bros. yesterday bought 100 shares of
Traction stock at 81.
J. Pierpont Morgan, >>the eminent Amer
ican f1nancier, has been invited to assume
the task of Strengthening out the much
tangled Argentine affairs, the successful
of which means so much for large
class of investors both in England and on
the Continent.
It is positively asserted by foreign bank
ing houses that after this week gold ship
ments will practically cease.
Chicago Gas stock was weak yesterday on
q rumor that an opposition company was be-
ing organized.
u.
Luster stock yesterday. r. ]. Stoney, Jr
sold Philadelphia Gas.
Some of the New York banks are doing a
land office business. The deposits of the
Chemical Bank last week were 81, ,662, 600 and
those of the Park Bank $23, ,397 900.
The bulls in Union Pacific predict that it
will cross so before the existing short inter-
est in the stock can cover.
Lead Trust was strong on the declaration
Of dividend.
Boston is likely to make another issue of
bonds of s., 900, 900 or more.
The Building Record.
Permits for the erection of the following
buildings were issued yesterday:
Mrs. Hutchinson, frame addition, one-story
kitchen. l0x4 feet, on South Eleventh street.
ward. Cost, $25.
Thomas Donnell, frame two-story dwell
ing, 19x32 feet, on Heman street, Thirteenth
ward. Cost, 81, 100.
II. L, Benner, four frame two-story dwell
ngs, 15x32 feet each, corner Harvard and
Euclid streets, Nineteenth ward. Cost, Sc, 600
for all.
II. C. Bausman, frame addition, two-story
kitchen, 12xl6 feet, on Murtland avenue,
Twenty first ward. Cost, $50.
Movements in Realty.
Reed B. Coyle Co. sold for j. S. Craig lots
Nos. and 10 in his plan at Marion station,
twenty ward, being 25 feet front on |
and 30-foot street by I55 reet
IN depth, for $3.50.
Black & Baird sold for the Pittsburg Com
pany, of Ellwood, to James Musser, a new |
queen Anne frame dwelling on lot $40, 'front.' |
ing 40 feet on Crescent avenue by depth of |
60 feet, for 1000, one-half cash. They saw |
,he Pittsburg and Western trains will be |
direct to Ellwood on June I6
A j. Pentecost sold lot 223 in Pentecost's |
Valley View plan, on CHARTERS Valley Rail-
way, with one-story frame dwelling, for |
450.
j. E. Glass sold for A. c. Watkins lot No. 70 |
N his Allequippa place plan for $3.50.
S. A. Dickie Il Co. sold for Mrs. C. Moore
read to Mrs. C. #. Graham a poperty on |
,outh Highland avenue, lot 50xl20 feet, with |
lroom brick house, for $4,000
W. A. Heron & Sons sold lot l05 in the
Wilkins third plan, Williamsburg, 52xI20 feet |
o an alley, for 500.
A. Q, Byers Co. sold to Gerard Winters
or James Gerard frame house of eight
ooms on Henderson street, Twelfth ward,
or 81, or, cash.
Charles Somers & Co. sold for Oswald |
Werner to William Ernshausen a. tract of |
md and improvements situated in Ross
ownship, Allegheny county, near Perrys-
lille avenue, for S9, 000
A Leggate & Son sold a plan of lots at
in Kilbuck township, for $1,000
ash. This is the second plan sold by this |
rn, as well as a number of single lots.
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