Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-29
THE WRONG POLICY.
Liberality on the Part of Owners
Would Attract Buyers, and
FURNISH WINGS 10 REAL ESTATE.
Reported Sale of the Gill Car Wheel Works,
Preble Avenue, Allegheny.
THE FEATURES OF LOCAL SPECULATION

1t was reported on good authority yester-
day that the property known as the Gill Car
Wheel Works, on Preble avenue, Allegheny,
had been sold for s55.OO0. The name of the
purchaser could not be ascertained.
This property, consisting of about ~
acres of ground and several buildings, was
bought in at the time of Mr.. Gilps assign
ment by the Safe Deposit Company for itself
and other creditors.
An official of the company was asked for
particulars of the sale, but he had no infor-
nation to give out. From an outside source
it was learned that the sale had been made.
1t was not stated what the purchaser in
tended to do with the property, but it is
probable it will be fixed up and the old bust
ness continued.
How to Attract Buyers.
Owners of residence or business property,
and desiring to sell, would greatly improve
their chances of finding customers by
showing a disposition to make slight conces-
sions in values. This would be q great In
ducement to buyers, who think it unfair to
compel them to pay the last cent. The pol
icy to give and take, or of splitting the diff
ferences, is the correct one for people who
mean business, and it seldom fails to work
successfully. 1t is understood that the Sher-
yesterday, was effected through concession
of about $1,000 from the price originally
asked By looping off $500 the owner of
handsome residence on Negley avenue found
a ready customer. Other instances could De
cited of the efficacy of O liberal spirit IN eX-
pediting transactions in lands and houses.
On the other hand, the policy of demand
ing the utmost farthing retards sales
Almost every broker in this city has deals
that are tied up on differences of few hun
l.oylo hnra fc q inf
buyers will not go, and the sooner owners
wanting to sell recognize this fact the better
for them.
Causes of Gold Shipments.
According to competent authority the gold
shipments are due to three causes-calling
home of trade balances, which usually re-
main here until Offset by the excess of ex-
ports in the fall, the purpose of the joint
stock banks of England, and probably OF
other banking concerns in that country and
on the Continent to hereafter carry larger
portion of reserve to liability, and heavy
Russian Withdrawals. This loss is onset IN
good part by large receipts OF currency from
the interior, and its effect is neutral1zed Dy
the light mercantile demand for accomoda-
ton. If the excellent crop prospects are
maintained there is nothing in the money
market which can prevent great develop
ment in all lines of business. NO funoa'
mental money arrangements are in sight.
As tomorrow will be legal holiday, peo-
pie having paper to meet at bank should at
tend to it to-day.
Straub & Morris report good inquiry for
lots at Grafton and Ingram. These places
are fast filling up with a good class of peo-
pie.
PENNSYLVANIA Railroad shares were weak
in the Philadelphia market Wednesday on
selling on alleged London account. 1t was
stated that London had information that the
company's April statement, now due, is not
favorable.
The Knoxville Land Improvement Com
pany will offer 200 pretty building lots in
that borough at public sale on Monday next.
All the financial institutions of the city
will be closed tomorrow, Decoration Day.
1t is rumored that the Union Pacific will
be extended to Helena.
The stockholders of the Bank of North
America have authorized the changing of
banks organization from State to national.
The 40 lots sold at .Homewood by Auc-
tioneer Smithsou for Black 6 Baird, are for
use, and the improvements which will be
put on them will give that quarter of the
city quite a boom.
A fine residence is going up on Penn ave
nue., near the railroad, Williamsburg. The
Wilson block, on Franklin street, is nearing
completion.
THE PENNSYLVANIA Railroad Company owes
the State of Pennsylvania $416, 800 taxes.
The Western, Chicago and Indiana Rail
road will issue 81, ,000, 900 new 6 per cent bonds
for the purpose of making additions and i'm
provements to the property.
j, E. Glass will open up plan of, lots on
Mt. Washington tomorrow with an auction
sale.
Birmingham Traction stock was opened at
the last call yesterday 21. There was a
bid of Is for Duquesne, the latter being a
little off.
W, O. H Scully has sold a business property
in the Second ward. to +. G. Koehne, for s., $50.
Citizens Traction IS were not in the mar
ket at los, but they could have been bought
Black & Baird report that lots at Elwood
continue to go off like hot cakes.
The Building Record.
Permits for the erection of the following
buildings were issued yesterday:
Mrs. Emily Gangoff, frame two-story
dwelling, lSx20 feet, on Violet alley, Thirty.
fourth ward. Cost, $500.
P. O'Connor, two frame two-story dwell,
ings, 2Sx4O feet, on Euclid avenue, Nine.
teenth ward. Cost, 1900.
Robert T. Reineman, two frame two-story
and attic dwellings, 1Sx32 feet each, on
Wylie avenue, Thirteenth ward. Cost, $500
Mrs. Emma E. Hechelman, two frame two
story dwellings, lSx32 feet each, on Wylie
avenue, Thirteenth ward. Cost, $l,sO0 for
both.
John Bell, frame two-story dwelling, lsx32
feet, on Margaretta street, Nineteenth ward.
Cost, s., $50.
William ]. Carrothers, frame two-story
dwelling, 14x16 feet, on Moore street, Thir-
teenth ward. Cost, 5000.
Movements in Realty.
A. Pentecost offered the Jones & Cavitt
real estate, 3l2x3OO feet, bounded by South
Twentieth and Twenty-frst streets, on Mary
street, Southside. Bidding was active. Best
bid was $4,000. The sale was adjourned
until further notice He also offered prop
erty on Federal street, Allegheny City, No.
22l%. Best bid was 5000. Adjourned until
Monday next at P. M.
A. T. Byers & Co. sold for J. Charles Dick
ems, Esq, a vacant lot, 6sx79 feet, corner of
Sweeney and Dill streets, Sixth ward, Alle-
gheny, to Rev. J. Fl. Prugh for Grace Church
Mission, for 81, $50.
Allies & Bailey sold for j. n Schwartz to
Mrs Annie Hamilton, No. AZ Lombard street.
Eleventh ward, a brick dwelling of five
rooms, lot 25x90 feet, for s, 900 cash.
Black & Baird sold for Samuel Buckley to
Thomas Flaherty a lot at Sheridan, fronting
40 feet on Fifth street. corner of American
avenue, for $225 cash.
w. A. Heron & Sons sold for $3.50 a mod
ern house of seven rooms, with lot 30xl5O
feet on tClaybourne street, Shadyside, to u,
II. Scott, to be occupied by him as resi-
dence.
HOME SECURITIES.