Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-05
POINTS IN REALTY.
Business on a Substantial Basis and
Conservatism the Rule.
THE FIELD FOR SHALLOW PURSES.
Apathetic Feeling in Speculative Circles
With Values Easily Moved.
OFFICE AND STREET NEWS AND GOSSIP.

Dealing in Pittsburg real estate has been
for the last three or four years conducted on
strictly business principles. Sentiment has
evaporated, leaving the fact standing out,
prominent and rugged, that lands and houses
represent hard-earned money. The days of
selling on a hurrah are gone. Now and then
! an excursion takes place, but the crowds that
attend such sales are largely made up of
buyers. The alluring prospect of good
| time has lost its charm. The conditions OF
the market have undergone permanent
change for the better. Conservatism has be-
| come the rule.
| This is shown by the careful manner in
which purchasers approach the market. A
| leading broker remarked yesterday that he
| had no trouble to make sales during the
| boom in the seventies, when acres and lots
| were bought without investigation. But
now he had to take the buyer over the prop
| erty and explain every detail that could
| possibly affect the value of the investment.
! That this is q strong feature of the market
will not be disputed. 1t is also foil to
| speculation, and, besides, has a tendency to
keep owners within reasonable bounds. A
| buyer wants to realize all the advantages of
| his investment, and will not pay fancy
prices.
Downtown business property is no doubt
| a good purchase at present prices. There is
| as much profit IN it as there was ten years
ago, but it takes more money to handle it.
| 1t is beyond the reach of shallow pocket
books. Men of small means must, therefore,
| turn their attention to other localities. A
forecast of what Pittsburg will be in few
years leads to the concIus1on that people Of
| this class who are seeking investment for
| their comparatively few dollars will find the
largest percentage of profit in suburban
| system
| the value of outlying realty.
A fair business is being transacted in
acres, and buyers are taking care OF their
| purchases without much difficulty. Pay
| ments are being made as they fall due, and
| few defaults occur. There are owners who
would willingly sell, but they arc not willing
| to make sacrifices. The lot market is so
| active that they feel confident that reasona-
BILE advances will reward their patience.
Business News and Gossip.
Circus and business did not harmonic
yesterday and the result was an unusually
| quiet time on the local Wall street.
The syndicate which leased part of the
Ward estate, in the Fourteenth ward, n few
months ago, with the intention of erecting
| rs or 100 houses thereon, will probably post
pone operations until next spring.
Two gentlemen from Oil City were in Pitts
burg yesterday looking for houses to live in
temporarily, but could find none that suited
them. Later they opened negotiations with
a real estate broker for the purchase of two
residence properties in the Twenty third
ward.
Stephen W. Tener and DR.. L. E. Davis have
broken ground for two elegant dwellings in
Ira NJ. Burchfield's Oliver Terrace plan,
Hazelwood. The cellar walls of Mrs.
Blanche Lytles residence, in the same plan,
are ready for the Superstructure.
No. 407 Grant street is receiving a new
front.
At the last call yesterday electric scrip
was offered at 73, and Birmingham Traction
at 1877.
Pleasant Valley firmed up little yester-
day, 225s being offered for l0o-share lots.
Reports of railroad earnings are uniformly
favorable, showing handsome gains over
the corresponding time last year.
The annual meeting Of the stockholders
elected.
Birmingham Traction bonds were market
able yesterday at 81 fiat; offered at 94h.
Duquesne Traction was offered at Is: 3s]% was
bid for Manchester.
The report that O new deal was on for the
sale of the Exchange building was authorita-
lively contradicted yesterday. 1t is still in
the market.
A site has been secured on Washington
street for large apartment house. 1t will
be built early next spring.
Mr. James w. Drape has returned insvig-
orons health from an extended trip to the
Northwest.
The sale Of Afrbrake yesterday at I0O15 is
equal to 1881 with dividends on.
The vigor with which Mr.. John B. Barbour
enters into business shows that he was
benefited by his vacation. He is one of the
hustlers on Change.
The Building Record.
Permits for the erection OF the following
buildings were issued yesterday:
E. Diamond two-story frame dwelling on
Sciota street, Twentieth ward, 16x32 feet.
Cost, $500.
Orpheus Singing Society one-story frame
ball, 40x95 feet, on Lima and Everett streets,
Twenty-first ward. Cost, $1,000 . |
william Frey frame two-story dwelling, |
lsx39 feet, corner Kaercher and Frazier |
streets, Twenty-third ward. Cost, $3.50.
J. W. Kirker frame two-story dwelling |
16xSO feet, on Angle alley. Twenty-flrst ward. |
George Zehfuss, frame two-story and attic
dwelling 2O132 feet on Natchez street, Thirty |
second ward. Cost, ST. $50
story dwellings 17132 feet, in Mckinley plan, |
Sixteenth ward. Cost, sl,s00.
Mr. Ebener, frame one-story and mansard |
dwelling o2X30 feet, on Rebecca street, Nine
teenth ward; Cost, $3.50.
W. A. Mcdonald, brick one-story store, |
2lxSs feet, corner Ward and Frazier streets,
Fourteenth ward Cost, $500.
I. A. Hogan, frame two-story and attic |
dwelling, INA feet, corner Frazier and |
Juliet street Fourteenth ward. Cost, 81 500. |
Juliet E. Roberts, frame two-story dwell |
ing 50132 feet on Craig street, Thirteenth |
ward. Cost, 50 800.
Movements In Realty.
Black & Baird sold to S. j. Zerbe two small |
houses in Reineman's court, Virgin alley, be- |
tween Smithfield and Grant streets for |
1000 cash.
Baltensperger & Williams sold for c. Bal |
tensperger, Jr., to W. G. Eckert, four lots, |
each 22xl20 on Boggston avenue, adjoining |
Beltzhoover borough, for 81, $50 cash.
G. B. Hart sold for Alvin Cornelius, at |
Coraopolis, q fine residence with lot 50x37S |
feet, on State avenue, to J. T. Hervey, of the |
Hervey Oil Company, for 81, 500 cash. He also |
sold eight other lots in the same place. He |
reports good inquiry for property in that
thriving borough.
A. T. Byers & Co. sold for the Ridgeview
Land Company to Frederick Gertz lot No
sc in their place, having Il frontage of % feet |
on Davis avenue and extending back a dis
tance of 130 feet to Alaska street, on the line
of the California avenue electric cars,
Eleventh ward, Allegheny City, for 1925
The purchaser intends erecting a neat six
roomed house at once.
Charles Somers & Co. report the following
additional sales of lots at Blaine: Thomas
W. FIeckner, MilieeIrstown, eIaa Pa;, let's Nos. 40
Brown, Wheeling, w. Va. lot q, block 5, $50;
John Flynn, 2S41 Larkins alley city, lot 25 |
block g. $780, John Knox, Fourth street. |
sharpsburg, lot 80, block 9, s4oo; R. NJ. Nc
Candless, 4s Tustin street, city, lot %, block
". A. Heron & Sons sold lot l45 in the Bis
sell plan, Eighteenth ward, 20xlcO feet on
Duncan street, for $3.50 cash.
THE FINANCIAL DRIFT.
Banks Doing a Seasonable Businessman
other Argument Against Tight Money,