Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-03
POINTS ON REALTY.
The Market as Seen Through the
Glasses ofa Conservative.
PURCHASES LARGELY FOR USE.
Some People Who Will Build Fine Houses
in an Outer Ward.
THE TREND OF LOCAL SPECULATION

Several handsome improvements will soon
be commenced in the Twenty-third ward.
The Hon. w. d. Sponsler has had plans and
specifications prepared and is taking bids
for 4roomed brick and stone dwelling on
Hazelwood avenue, Oliver Terrace plan, the
site for which he recently purchased from
Ira M. Burchfeld. 1t will be one of the
finest houses in that quarter of the city.
Drs. Haworth and Davis and S. w. Tanner
have purchased double lots in the same
plan and will put up elegant dwellings this
season.
Conservative Views on Realty.
Real estate is always leading interest in
prosperous communities. The chief desire
of the great majority of people is to own
the houses they live in, so that they may not
be wanderers upon the face of the earth.
This is sort of instinct which permeates
every part of animated creation. The beasts
of the field have lairs and the fowls of the
air nests. The controlling sentiment in
Pittsburg for several years has been in this
direction, and the result is seen in the thou
sands of happy homes which crown the hill
tops and nestle in the valleys which sur
round the city. 1t is this which makes real
estate and all that pertains to it the chief
factor in the material developments Of this
hive of industry.
A well-known business man of conserva-
tive tencies, but of unlimited faith in the
future, in discussing this subject yesterday
made the following observations: 81 have
no apprehension that the price of real estate
will shrink on accoun. of the comparative
dullness prevailing at this time, as Is the talk
of the Bears for value is regulated by de-
mand. or use. The development of the city
is beyond a probability; and as our building
space for residences is to a great extent lin
tied, the demand for vacant property in the
future must be good. Those who have bought
expecting to realize a big profit in few
weeks or months may be disappointed, to be
sure, but they need not fear; the time Will
soon come when their property will be
wanted for use. Some who put only small
amount of money in unimproved property,
expecting to sell quickly, may have to realize
at small reduction, because they may not
have funds to enable them to carry it, but
this will in no wise affect the market, as in
vestors of this class are few.
"For the most part purchasers of real
estate for several years have either paid
cash, or knew where the money to make pay
ments was to come from, and in most cases
they have paid up in full before the time
stipulated in their obligations. With q good
steady demand for property for use, and not
enough houses to shelter all the people,
there is no ground for apprehension of re-
action in real estate. On the contrary,
everything points to gradual enhancement
as the city expands and population and
wealth increase"
fennsylvan1a Company'S report.
At the annual meeting of the stockholders
of the Pennsylvania Company in this city
yesterday the following directors were
chosen: &. B. Roberts, James McCrea, j. T.
Brooks, Thomas D. Messler, John E. David
son, Henry H. Houston, Frank Thomson,
Henry D. Welsh, J. N. DuBarry, John P.
Green, w. II. Barnes, Amos r. Little and n.
P. Shortridge. Secretary Liggett read the
annual report, showing results in the pro-
prietary department to have been as follows:
neSnct fer Interest On bonds gacr
expenses, losses ON leased lines, etc. 685 $50 3S
Leaving profit for the year of. 0s1. .95s IL
Being gain over the year 1889 off,. 354, 156 10
Results on the principal lines leased to the
Company were as follows:
Pittsburg, Fort Wayne and Chicago
Railway, profit in 1880 of, ..-.......$ 915, OF IS
An increase as compared with 1883
of ........................... 15s, 2s5 50
Railroad an increase in net earnings
as compared with 1889 of. .........,..4 SO, 4G Is
Erie and Pittsburg Railroad. de-
creased loss as compared with 1889 Of. 2s.o2s 50
creased loss as compared with 1889 Of. ~, 22 90
Northwestern Ohio Railway, a decreased
profit compared with 1853 Of. ......y 11,5s4 40
and ~Vincennes Railroad,
an increased loss as compared with
1889 ......-.................. 5,411 70
The tonnage of the Northwestern system
2, 1855, ,56s tons. The number of pas
siad