Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-23
POINTS IN REALTY.
Acreage Rather Slow, but the Lot
Market Active and Healthy.
NEW DEAL AT CLEARING HOUSE.
Local Business Not Much Affected by the
Suspension of Deacon White.
OFFICE AND STREET NEWS AND GOSSIP

|
comes necessary to utter word OF caution
against yielding to its seductive influence.
1t is an old saying that Wall street is q
financial graveyard. When such expert
enced men as Deacon White are over
taken with disaster, there would seem to be
little chance for the small fry. Specula-
! tion is good in its place, but it is easily
abused and then it becomes a positive evil,
| diverting attention from legitimate enter
prises and uniting its votaries for the
sober affairs OF life. The hazards are too
| great for ordinary people to assume. For
| tunately there is little danger that Pitts
| burg will be visited by this maelstrom of
| madness and blindness. Her industries are
| of too substantial n character to be subor-
dinated to booms or crazes of any kind, and
! the temper of her people is not of the sort
| that follows the wind and grasps at straws.
| Her conservatism has carried her safely
| through many dangers, and she is not likely
| to yield to the enticements of the new dan
\ gerswhich has sprung up in Wall street.
The condition of Pittsburg real estate is
| excellent, but the outlook is better. There
is not much doing in acreage, owing to the
| lateness of the season, but several firms are
negotiating for tracts for subdivision next
spring. The lot market is active, the pros
inducing many small Investments. There
are numerous projects for Improvements
some of them important-which will take
| shape early next year. A good feature OF the
market is the almost total absence of specula-
ton. Property is being acquired for homes.
Dealers are closely watching various pro-
jected schemes for the improvements OF
transit facilities in the suburbs, especially
on the Southside and it is certain that any
decided step toward realizing these schemes
will be promptly followed by manifest
trend of interest toward the districts
affected.
The Pittsburg Clearing House has always
occupied the foremost place among institu-
! t1ons of this kind BY new departure,
which will go into effect to-day, its character
will be raised still higher. Under the old
plan clerks were required to scrutinize two
accounts those of the banks initiating
checks and those receiving them. By the
new system there is only one account to
examine. This will reduce the clerical work
OF settling exchanges by about one-half
Hon. Augustus Jay, Second Secretary of
Legation ut Paris, France, has just given the
following information regarding Paris: The
present population is 100000. The value of
theShighcst priced real estate that is sold,
exclusive of buildings, taken from recent
sales is as follows: Near the Bourse, 1000
francs square meter, equal to about $40 a
square foot; OH the Champs Elysees, 600 to
400 francs a square meter equal to about SIS
TO So q square foot Sales of city property
are frequent The number Of buildings in
Paris is 81, 500.
The Mecca building. soon to be erected in
Chicago, will contain 9S flats and II large
stores, which excels anything of the kind
ever attempted before in that city. Every
known improvement will be used in the in
ternal equipment.
Business News and Gossip.
The avenue through Neville Island will be
opened to travel in two or three weeks.
Nearly all the real estate brokers have or
ders for property which they cannot fill,
owing to the bullish views of owners.
The Williamsburg Electric Light Com
pany's plant is ready for operation, with
the exception Of the dynamo, which is ex-
pected every day. Between 500 and 600 lights
will be turned on as soon as it arrives.
Indications are that in a year or two Ruch
Place will be one of the most populous To-
calities in the city. Considerable building
is going on, but it will be prosecuted on an
extensive scale next year.
The Central police station has been
frightened up with q coat of white paint
Mr.. Archie Kerr is erecting a handsome
dwelling on the lower end of Neville Island.
The American Vault Safe and Lock Com
pany has placed q mortgage with the Ftdel-
the money to be used IN developing its plant
at Blaine.
John D. Bailey yesterday bid II for any
part of LOCO shares of Real Estate Loan and
Trust Company stock.
At the last call yesterday Pittsburg Trac
tion was wanted in big bundles at 80.
The annual meeting of the Plttsbprg Gas
Company will be held October5
The HaZelwood Oil Company has declared
its regular quarterly dividend of ~ per
cent, payable October l.
Movements in Realty.
A. z. Byers 6 Co., sold for the Ridgeview
Land Company to Robert Robinson lot No,
81 in their plan on the line of the California
avenue electric road, Eleventh ward, Ale
gheny City, fronting California avenue 4s
feet and extending through 16O feet to Mas
sachusetts avenue, for s., 000
Reed h. Coyle s. Co. report the sale of eight
lots in the Grafton Place plan, at Grafton,
Pittsburg, Cincinnati, Chicago and St. Louis
Railway, each 51xlO0 feet, at $500 each. The
purchasers all contemplate Improvement by
the erection of residences. They also sold
for Samuel Watson, in his Watson Place
plan, Tenth ward. Allegheny, lot No. 93l, cor
ner OF Perrysyile avenue and Natchez
street to the Allegheny PreSbytery, who will
erect at once building for church pur-
poses. The price was 81 600 cash.
Charles Somers & Co. report the following
additional sales Of lots at Blaine: James H
Henderson, city, lot 53, block r. $3.50: Mrs.
Jane V. Jones' Canonsburg, Pa lot Ii, block
l2 $500: ]. T. Hough, Elizabeth, Pa, lots Nos.
A. 10 and l6, in block y, $3.50 for all; Mrs.
Isabella Gallagher, city, lot No. ], in block
l3 $3.50: George Jones. city, lot No. 81, in
block 5 $780, Malvin Pearce CITY lot No b.
in block g. 500: Mrs. Hannah Byers, Sharps-
burg, Pa, lots and 3, in block i3 $400; D. NJ
C. MILAN. Monongahela City, Pa, lot IS, in
block !, $3.50.
Black & Baird sold to F. H. Boyies lot No.
II, in T. 4. Gillespies plan of Heron Hill,
having frontage of p feet on Madison
avenue by depth OF 100 feet, for $500 cash.
A. j. Pentecost sold lot 225, in his Valley
view plan, CHARTERS Valley Railway, to
Emanuel Frank for 1875
Baxter, Thompson & Co. sold lot No 9, in
Ruch Place plan of lots, fronting % feet on
kirkpatrick street by ll5 to 20-foot alley,
for $500.
The Building Record.
Four permits were issued yesterday for the
same number of houses, costing, as esti-
mated, $l1 200:
H. c. Murtel brick one-story business house, on
Carson street. Twenty-fourth ward. Cost, 81 OOo
Mr.. NJ. J. Greatrake, brick two-story dwelling on
L1gonier street, Sixteenth ward. Cost, 81, 800
Zacharias Richardson. brtck two-story dwelling
Penn avenue, Ninth ward. Cost ST. 9OJ. Mrs
Elizabeth Barckhoif. frame two-story dwelling on
Frankstown road, Twenty-frst ward. Cost SI 600
THE MONETARY SITUATION.
Europe Forced to Pay This Country a Big
Balance in Gold.
The local money market moved along in
its customary groove yesterday. 1t was
quiet and firm. The supply of funds was
abundant and the call for loans fair. Rates
were G@7 per cent Owing to the dearth of
speculation call money was slow. Currency
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