Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-16
The Isaac Taylor Homestead, on
North Avenue, Picked Up.
REAL ESTATE AS AN INVESTMENT.
Drift Of the Speculative Stream Here and
at Other Leading Centers.
OFFICE AND STREET. NEWS AND GOSSIP

|
occupy the place as home.
| Two other high-class residences on the
Northside have changed hands during the
week, showing good demand for that class
OF property and money to pay for it, all Of
these transactions being on a cash basis
| The purchaser of the Sherman avenue prop
| erty, referred to in this column a day or two
ago, was Colonel John w. Echols, the we'll
known attorney.
Realty as an Investment.
The stability of community depends in q
large degree upon the number of its homes
| Proprietors, having more at stake than rent
ers, are conservative in their conduct, lest
by hasty action they imperi1 their personal
interests; and in protecting themselves they
necessarily exercise restraining influence
upon others. A "city of homes is so self
poised as to be comparatively secure against
the vicissitudes of trade. Pittsburg is
stronger in every way to-day than at any
previous time in her history, because of the
larger number of those who own the houses
they live in.
Referring to real estate as an investment,
an authority on the subject says: "It is the
best property in which money can be in
vested. Stocks may rise and fall and banks
fail, but land remains intact. Landed prop
erty OF any kind pays well. The man who
has carefully invested in real estate and lost
is person who cannot be found. Some peo-
Several years beforeE' 'taint worth half as
much as 1t was then'-but, barring the fact
that they may have paid fictitious prices for
IT, Duy 1t OF them at their purchase price if
you can. Wherever it may be, it takes little
TO keep 1t and requires no more attention
than one chooses to give it."
Men point to the great manufacturers of
the country and to their wealth as evidence
oflarge profits in that interest, but they are
the exception, not the rule, and are far from
Demg as numerous as real estate kings. But
even manufacturers invest in real estate as
fast as possible. We do not often hear of
them in this line--they are known as manu-
facturers-yet their real estate investments
are very heavy.
VIII Get Their Commission.
The congregation of Bnai Israel Synagogue,
corner of Grant and Third streets, about a
year ago placed that property in the hands
of Charles Somers & &c. for sale within 20
days. Within that time it was sold to J. L.
somers for $4,000. but the congregation, hav-
ing changed their minds, refused to ratify
the transaction on the ground that the con-
sideration was less than they thought the
property was worth. Suit was brought by
the firm for their commission and yesterday
Judgment was rendered in their favor.
Business News and Gossip.
The property on Water street for which
Captain Sam Brown is said to be dickering is
in the immediate vicinity of the Mononga-
hela House.
There is probably something in the talk of
a handsome business structure on Grant
street and Fourth avenue opposite the St.
Nicholas building, as referred to in this
column some time ago. The property be-
longs to an estate.
The sale of lots in the Girard Park Place
plan, Marion station, by Morrison & Banks,
begins to-day. Prices range from $500 to $780,
The largest mortgage on the Recorders
file yesterday was for $4,000. Seven of "a
Se@ SF gorR ~rhe outward
movement of gold would be checked if the
money rate here advanced, but this rate is
kept down by people interested in getting
there is likely to be sharp advance in the
money rate here"
W. f. Watt and R. j. stoney, Jr., were the
Andrew Caster bought bought yhsS9iS from John D.
Bailey 100 shares Safe Deposit Company
stock at 64A, The first of the year it was
Sloan & Co. have sold $4,000 worth of lots
in their plan at Norfolk, Va, within the past
two weeks. They report inquiry active for
In that locality.
made some time ago that they would come
to the front as leaders and furnish large
part of the summer business.
Director of the Mint Leech has ordered
u
Last month SIG, 600 worth was coined
Messrs. John F. and Samuel Robinson have
retired from the well known banking and
brokerage firm of Robinson Bros, which now
consists of David, William A. and Alex. C.
Robinson.
The earnings of the Philadelphia Company
for the month of April are semi-off1cially re-
ported as $265,00
The Building Record.
Permits for the erection of the following
buildings were issued yesterday:
John Barker, brick addition basement
dwelling 2sx9O feet, on Antoinette street,
Fourteenth ward. Cost, $40.
Patrick Duffy, frame one-story dwelling,
l4x26 feet, on Gilmore street, Fourteenth
ward. Cost, $780,
Stanley Mahood, frame addition, mansard
story dwelling, l6x34 feet, on River avenue,
Nineteenth ward. Cost, $3.50.
j. {; Netting, two frame two-story dwell
ngs 15x40 feet each, on Mignonette street,
Twentieth ward. Cost, $3, 100.
Movements in Realty.
Allies & Bailey sold for Gardner Winter,
No. lbs Webster street, Allegheny City, |
brick dwelling of four rooms and finished |
attic; also No. 81 Veto, street, frame dwell |
ng of six rooms and attic, lot 2Ox1O0 feet to |
Veto street, for $500 cash.
J. B. Larkin & Co. sold to John Dever and |
Andrew McLeane, of Meyran avenue, two |
OTIS on Ward street, Fourteenth ward, 27.6x !
80 each, for s., 500 cash. This closes the last |
If large number of sales made by this firm |
m this street within the last two months at |
IN average price of s45 per foot front. The
treet is not paved.
Reed B. Coyle & Co. sold for Redpath |
Bros, of Boston, Mass, the property corner
# Monterey and Jackson streets, Allegheny,
,eing a brick and frame dwelling of six |
ooms, with lot 2Sxl00 feet, for 81, $50 cash.
James W. Drape & Co. sold portion of the
of the National Transit Company
ituated near HoboRen, West Penn Railroad,
43 lots and a piece of ground of
ver an acre, for 81, $50 cash: also a collateral
interest in property in McKeesport of 1850.
A. NJ Tressel & Co. sold lot for Frank
to ]. NJ. Mcbride in Coraopolis,
and Lake Erie Railroad.