Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-01
Views of an Expert.

Views of an Expert.
Real estate being one of the most important
interests of the city-the backbone of its mater
ial development-reliable information concern
ing its condition and prospects is OF special
value to the public. With view to enabling
readers of THE DIsP ATCH to think and act in
tellIgently in acquiring or disposing of prop
erty. Mr.. D. P. Black, of Black & Baird. was
yesterday asked for an opinion, and he replied:
II think the market although not as fatter-
ing, perhaps, as at the same time last year, Is
in substantial and healthy condition. The
inquiry for property is principally by those
who wish to use 1t for their own purposes, and
are paying all, or nearly all, cash. The specu-
lative element that has produced panics and
distress in many Western cities and
towns, is almost lost sight of here.
The fact that most of the purchases
being made are for use is seen in the
Never In the history of Pittsburg has this class
of property been so scarce. This condition OF
things will certainly stimulate building 10 the
lower part of the city, as business must have
more room. The return to coal as fuel has
tendency to drive the residence population IN
the downtown and manufacturing districts to
the suburbs. This is very noticeable In the
number Of Southside and Allegheny people
who have lately purchased in the East End.
The tendency of buyers of real estate is to
compare prices with sales already made and
1
For instance the growth of cities all over the
world has never been equal to that of the pres
ent time LIS 1t not reasonable to suppose that
the increase in prices will keep pace with urban
development and exceed all former records,
just as cities are doing in population"
Capitalists Taking Hold.
It is fact worth remarking that many Pitts
burg capitalists have taken quite q fancy to
real estate in the last few years. who previously
gave it scarce passing thought This change
of sentiment Is fairly illustrated by the large
investments in lands and houses by Captain j.
!. Vandergrift Up to within four or five years
he paid little or no attention to realty. Oil was
king to him. Now he is one of the largest
holders and builders in the city. Besides own
ing large amount of property in the business
part of the city, he has important holdingsin
the East End, consisting besides a number of
vacant lots, of fine dwellings on South High
land, Shady lane and Fifth avenue. The more
real estate is studied the better and safer it
appears.
Homes for the People.
Major A. ]. Pentecost proposes to do his part
toward supplying the demand for dwellings
He is making arrangements for the erection
of IL or Is houses on his Valley View plan,
ground for which will be broken as soon as the
weather settles.
The Building Record.
During the past week 81 permits were issued,
representing 40 buildings, brick and 3S frame,
the total cost of all being 9.9l3. The Nine
teenth ward led with 7, followed by the Thir-
teenth. with s
The number of permits issued the previous
week was 81, representing 81 buildings. at an
estimated cost of ss2, ,090. Number of buildings
authorized this year to date, 3l9. Yesterdays
permits follow:
John Kane, frame two-story and basement
dwelling, l6x2S feet, on Fifth avenue, Four
teenth ward. Cost, $500.
Evans & Son. two frame two-story and attic
dwellings, 20x45 feet. on Shetland avenue.
Twenty first ward. Cost, s., 500.
John g. Ringling, frame two.story and attic
dwelling, 20x32 feet, on Tustin street, Four
teenth ward. Cost. 81 7oo.
Business News and Gossip.
Reed B. Coyle Co. have sold 20 lots in the
Marion Place addition, Twenty-third ward, in
the last three weeks.
The late Secretary Window showed conf
dence in real estate by investing all his surplus
means-not large-in city property.
The past week was the best of the year for
real estate Transactions reported in this
column bear out this statement 1t begins to
look as if those who predicted busy season
knew what they were talking about.
The largest of 80 mortgages on file for record
yesterday was for 5000. Twelve were for pur-
chase money.
Chairman Hunter. of Allegheny Councils,
will move into his new Perrysville avenue resi-
cence in April
Philadelphia Gas or Electric. Local holders
are mostly sellers.
]. F. Stark sold so shares Philadelphia Gas at
1875 and so shares Pleasant Valley at 24lZ,
Movements in Realty.
D n