Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-02
A GOOD INVESTMENT.
Opportunities to Buy Cheap Lots
Should Not Be Neglected.
DIFFICULTY IN FIXING VALUES.
The Mckee Homestead, on New Negley
Avenue, Changes Ownership.
THE FEATURES OF LOCAL SPECULATION

TIE FEATURES OF LOCAL SPECULATION
The Mckee homestead on new Negley
avenne formerly Roup street, consisting of a
lot 2O0x3o0, with afne two-story Queen
Anne dwelling, has changed ownership at a
price approximating SS5, 900. The reputed
purchaser is w. J. Hammond, WELL
known business man. 1t is one OF the finest
properties in that locality, and the pur-
chaser is thought to have secured bargain.
1t was the home of John r. Mckee, Jr., the
well-known stock broker.
Hints for Home-Seekers.
"A prominent drygoods dealer on Market
street yesterday purchased q piece of prop
ertv out Fifth avenue, as an investment. In
speaking of the transaction he said: Il
paid little more than thought the prop
ersy was worth at this time, but looked
ahead. Enhancement of land values in and
around Pittsburg ia certain. The rapid
growth of the city in business and population
admits of no other conclusion"
In purchasing property, whether for use or in
vestment. two things should be kept in view
location and capacity for improvement Some
properties are so environed as to be incapable
of betterment. They are at the limit of their
income producing capacity. These may be said
to have q fixed value. They have no future.
Others on good streets In progressive localities
are always at the top Of the market. There is a
constant demand for them which keeps prices
on the jump. Buyers of properties so situated
look as much to prospective as present values.
They have future.
It is difficult to estimate property values
where there are no insuperable obstacles 10 i'm
provement- In such cases almost any price IS
reasonable, since the buyer. If for investment.
looks to the future for his profits. Twenty years
ago, or less, property on Fifth avenue changed
ownership at s. 900 foot front, and was con-
sidered dear at that 1t is now worth S., 600.
Buyers had faith in the future. and were not
are selling at from 500 to si5O a foot front
They will be worth from $500 to $500 within f1ve
years.
Home seekers can gain nothing by delay.
Nothing short of a universal disaster to busi-
ness can bring about a reaction in prices Cheap
lots are being picked up so fast that the supply
will soon be curtailed. Those able TO buy-and
there are few who are not, terms are SO easy
should make no unnecessary delay, but strike
while the iron is hot. 1t is easy to get a house
built on paid up lot, as hundreds can testify.
This is the best investment that man can
make for his family.
Business News and Gossip.
Real estate agents say this has been the best
week of the year with them.
The manufacturing site recently sold by
Pennsylvania Railroad some distance from the
city.
William L. Lapsley of Braddock, was yester-
day elected to I'LL vacancy In the Board of
Directors of the Fifth Avenue Bank, caused by
the death of N. Toerge.
Considerable building is going on in the vi.
ciuIty of the gas we'll at Williamsburg, and
values are looking up.
A number of bankers and manufacturers, by
special invitation, under charge of the Pitts
burg Company, will leave the city for Elwood.
Pa, at p. N to-day. to assist in opening the
new Hotel Oliver at that place. 1t promises to
be favorire summer resort for Pittsburg and
Youngstown people.
terday was for Sis, OOO Ten of 20 were for pur-
chase money.
julius F. Stark sold so shares of Luster at ID.
Henry NJ. Long sold Is shares Pleasant Valley
The Pennsylvania Railroad Company yester-
day declared a semi-annual dividend. payable
in cash or scrip, as the stockholder may elect.
The Second National Bank of Pittsburg. the
First National Bank of Allegheny, and the
Monongahela National Bank have declared
regular semi-annual dIv1dends-the last per
cent, the others 4 and 5respectively.
sellers OF Electric. Morris & Brown bought.
Kuhn Bros. disposed of a bundle of Pittsburg
and Western preferred at slight shave.
Very little comment on the strike was heard
on Fourth avenue yesterday. Things moved
along about as usual.
Mr. o. M. Harlzell, of Collins Co.. has
taken an office in the German National Bank.
Mr.. H. is live business man, and certain TO
succeed.
The Building Record.
Permits for the erection of the following
buildings were issued yesterday:
o. L. Weston, frame one-story and basement
dwelling, 2lx3o feet. on Lyric street. Twenty
first ward. Cost. $500.
Church of the Good Shepherd, frame addi-
tion one-story church. l6x22 feet, Second ave.
nue., Twenty-third ward. Cost, Sl20.
John Reese, frame two-story dwelling. 1Sx22
feet, on Lafayette street, Twenty-thIrd ward.
Mrs. NJ. Hunkele, ,.two frame two-story dwell
ings 1615x34 feet each. ossippee street, Thir-
reenth ward Cost, s., 100
Nj. M.,,Wilr, frame two-story and attic dwell
ing, l6x30 feet, on Wicklow street. Nineteenth
ward. Cost, $l,001.
Pennsylvania Railroad Company frame one
story cattle pens. S5o175O feet, on Pennsylvania
Railroad line, Twenty-frst ward. Cost, ST., 900.
Pennsylvania Railroad Company, frame one
story cattle pen, 350x35O feet, on Penn avenue,
Twenty-frst ward. Cost, $4,000.
Movements in Realty.
Thomas McCaffrey sold for Peter Spryer to
William ]. Wright. property 1872 Taylor street,
near Liberty avenue, lot 60xl37 feet, with two
story frame house of nine rooms, bath. finished
a good stable on rear of lot, for 81, 900. 1t was
formerly owned by ex-Mayor Lyon.
8. A. DicKie q Co. sold for H. L. Benner to
II. h. Breen an improved property on Euclid
street, Nineteenth ward. tw0-story and attic
frame house, with lot 22x62 feet, for 81, $50.
E. s. Fleisher sold for Henry Vogel to j. N.
Woche a lot 5Ox94 on Iancoln avenue, East End,
Twenty-frst ward. having thereon fve-
roomed dwelling for s2,625; also sold for B. H
Lightfoot lot No. "A in Summit View, Brush.
ton, to r. Tritsch for 5000
Black Baird sold for Harvey L. Childs to
d. L. Gillespie lot on Thomas street, Boule-
ward place, East End, 81 feet front, for 81 $780,
Reed b. Coyle d Co. sold to John f. Kent q
lot in their Marion place plan for $3.50
James w. Drape d Co. sold a piece of prop
erty of about II acres, with dwelling and out
buildings orchard, etc., on the Washington
pike, near Temperanceville for SIS, 500; also
sold collateral interest of $500 on residence
property in Allegheny; also sold a piece of
property about l2Ox300 feet. fronting the A. V.
4. h In the Eighteenth ward. for 81, 900; also
sold collateral interest In property at Hazle-
wood and McKeesport for 81, 200.
Howard Brown sold lot NJ. 226. Bank of Com.
merce addition. Brushton, fronting 40 feet on
the south side of Kelly street by l37 to 2O-foot
alley, for $500.
Charles Somers & Co. sold for John ]. White
property located on the line of the Pittsburg
FIT Wayne and Chicago Railroad near the
city, consisting OF IA acres of ground with
ten.roomed house and other improvements, for
S9, ,OO0
John K. Ewing & Co. sold to Mrs Margaret
Stauf1er lot No. n in OrchardView plan. at the
terminus OF the East street electric cars size %
x100, for $3.50
Magaw d Golf. Limited, sold to Rebecca Nc
Corkie new frame house of nSe rooms, with
lot 25xlOO, fronting on Second avenue Oak
abrrr md ncs D.,