Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-13
THE TREND OF TRADE.
The Big Plant on the Poor Farm
Being Pushed to Completion.
BUSINESS OUTLOOK QUITE ROSY.
Wheels Will Turn at the New Town of
Kensington Within 80 Days.
THE DRIFT OF LOCAL SPECULATION

Carnegie, Phipps & Co. are making good
progress with their new works on the late
city Poor Farm. Some of the buildings are
under roof, and others are well under way.
1t is the intention to have the entire plant
ready for operation with as little delay as
possible. In this connection it may be stated
that movement is on foot, presumably
under the auspices of the abovenamed firm,
to construct street railway from Home
stead to Braddock. 1t may start at the
farm.
Fall and Winter Outlook.
The apathy which characterizes the stock
market is attributed to the unsettled con-
dition of foreign affairs. At home every
thing favors active trading, and the outlook
for the coming fall and winter was perhaps
never more encouraging at this season of
the year. The crop of winter wheat, the
harvesting of which will soon begin, prom
ises to bo the largest ever raised, and re-
ports from the spring wheat belts are also
exceptionally encouraging. But what Is OF
still greater Importance is the fact now un-
disputed, that the European crops will be
very short, and hence American farmers are
assured of good demand for all the wheat
they may have to spare, and that at better
prices than have ruled fora number OF years
past. General trade is also in good con-
dition for the season of the year.
A new 1nQuStr1al center.
The success of the Burren Improvement
Company in disposing of lots at Kensington
is a striking event in local real estate his
tory. Up to yesterday sales aggregated up
ward of $l25, 600 By the terms of their con-
tracts the Excelsior Flint Glass Company,
the Steel Wheel Company and the Pittsburg
Reduction Company, all of which have Sc
cured sites at kenSington, have 80 days in
which to have their plants ready for opera
ton; Negotiations with two other concerns,
employing about $50 men, will be closed
early next week. Indications are that Ken
sington will soon become one of the leading
manufacturing towns in Western Pennsyl-
vania.
Development of Mineral Ground.
The old ideas regarding the sale of mining
property or the enlistment of capital in
mining undertakings have experienced a
change. Capitalists will not pay large
amounts of money for undeveloped pros
poets simply because of their proximity to
profitable mines, and their holders are real
izing the force of this fact. The method
which is now more frequently being fol-
lowed in the development of uneNplored
mineral ground is to undertake to place
shares for working capital only. This sys-
tenn is clearly the most equitable on both
sides.
Business News and Gossip.
It was hard to get bids on stocks yester-
day except at concessions.
Oil dropped entirely out of sight yester-
day. Trading in this commodity is van
ished industry.
New York was dull and steady yesterday.
London did nothing to speak of.
E. NJ. Ferguson has sold to Laura B. Childs
a residence property in the Twentieth ward
for Sll,5O0.
II. Sellers Mckee and others have applied
for charter for the Birmingham, Knox
vile and Allentown Traction Company.
This is the company which proposes to build
IN electric line reaching the points named
and connecting With the Birmingham Trac-
tion line.
A syndicate of Baltimore, Philadelphia and
New York capitalists has been formed to
purchase the Baltimore City Passenger Rail-
way.
Unfavorable crop reports still continue to
be received from Russia.
There are a great many bonds now in de-
fault which will probably pay very hand,
them, and sit still.
The Boston Stock Exchange rules that on
anda fter June Is temporary receipts for sugar
The Norfolk and Western Railroad will
issue enough additional preferred stock to
retire the outstanding common stock.
The directors of the Bell Telephone Com
pany have declared dividend of per cent
and an extra dividend of per cent.
The Building Record.
Permits for the erection of the following
buildings were issued yesterday:
Constancia Wolinske, frame two-story
dwelling, 24x30 feet, on Josephine street,
ward. Cost, 5000.
Julian Wolinske, frame two-story dwell
ing, 24x30 feet, on Josephine street, Twenty
sixth ward. Cost, 5000.
D. Geier, fra ne two-story addition dwell
ing 1sxl6, feet, on Shetland street, Twenty
fiTcfN nr1
Ernest Koch, frame two-story addition
dwelling, 16x22 feet, on Arlington street,
Twenty-seventh ward Cost, about s., ,OGO.
d. o. Driscoll frame two-story addition
dwelling, 16xl6 feet, on Miff1in Street, Six
teenth ward. Cost, $3.50.
NJ. Schmerde, frame one-story dwelling.
16z25 feet, on Rosetta street, Nineteenth
ward. Cost, $40.
Movements in Realty.
Ira NJ. Burchfield sold another lot in Oliver
Terrace plan, Twenty-third ward, for 81, 700:
also sold three lots on Warnet street, same
ward, for s., $50.
Reed B. Coyle & Co. sold lot No. POS in their
Marion place addition, being 25xl4O feet,
more or less, situate on Parnell street. for
500.
Baltensperger & Williams sold for John
Hill to Mrs. Bridget Mannion q four-roomed
house on Mt. Washington, lot 25xlOO, for
s., 100 cash. They also sold two more lots in
the We1nman plan, Southern avenue, Mt, |
Washington, No 26 to Peter Reid and No. 27 |
to John Price. Inquiry for lots in this plan |
is very active. |
Black & Baird sold the following lots in
the Alta Land Company plan, Duquesne |
Heights: To j. G. Kardeema, lot % for $50 |
cash; B. F. Ballard, 78 for $45; also to the |
same party lot II for $50; to james Dorsey, |
lot 76 ior $50. and to August Wisotzky lots |
Nos. 50 and So for $3.50. They also sold in Ell |
wood lot No. 9A to Michael Knapp for $500:
to +. Cunningham and NJ. 1. Van Eman, lot |
794 for $500: TO Bertha L. Butler lot 953 for
$500, and to Marrow & Thompson, lot 939 for /
$500
s. A. Dickie & Co. sold for Frank Killian to
j. II. Eichars ar improved property on
Meadow street, Twentl first ward n two |
story frame house, with lot 26xl0O, for
/, 800.
NJ. F. Nipple & Co. sold for J. Walter Hav
to Harry Z. Mccoy lot No. "a, HAYWOOD place
plan, Thirteenth ward, having frontage of
"a feet by depth Of las feet, for 1925 cash.
j. E. Glass sold for A. C. Watkins to Will
lam Trembling lot No. 70 in the Allequippa
place plan, Thirteenth ward, for $3.50
James W. Drape & Co. closed the sale of a
suburban residence and over four acres of |
ground, near the city, at SIS, ,000 also a col
ateral interest of $4,000 in hotel property
near the city; also, an interest in properties
N McKeesport and in the CITY of SIS 600: also |
closed the sale OF a lot in the suburbs, about |
.5xl20 feet, at S., 500 cash
W. A. Heron & Sons sold lot 81 in the Will
1ins third plan, Williamsburg Pa, 52xI2O
eet, on northerly side of Hutchinson street,
corner Savannah street, for $3.50 l.