Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-07

The purchaser will sell some of the lots
and improve the rest.
An Interesting Report.
1t was again reported yesterday that
Joseph Horne & Co had purchased the
Leonard property, at the corner of Penn
and Fifth avenues, at price approximating
$500, 600. The report could not be verified,
as nobody supposed to know would talk,
but it was accepted as at least probable.
Where there is smoke there must be fire.
Should the deal be fact, it will give that
quarter of the city quite boom and stimu.
late the movement for the purchase of the
Speer property for mammoth hotel. The
trend of business in all directions is advan-
tageous to the city.
The Basis of Value.
What is intrinsic value? This is ques.
tion frequently propounded, but seldom
satisfactorily answered. The following
from the Journal of Finance is clear upon
this point: Intrinsic value, as We under
stand it, is the labor cost of any substance
created, produced, mined or worked upon.
By the laws of supply and demand another
value attaches to a substance or varies it,
but the intrinsic value, we believe, is that
reproduction. Value presents itself as a
tangible thing to the human mind, and it is
human labor whose expenditure is repre-
sented by the dollars-and-cents cost of the
things produced in the first instance"
Boom for Kensington.
Kensington has had several booms of a
| substantial sort. The latest is in the shape
of the Chambers Glass Works-the biggest
of the kind in the world Having secured
this great industry, Kensington can Justly
lay claim to superiority as a manufacturing
| center. With such substantial backing, it
is no wonder that there is an active demand
for lots, nor that building is going forward
| at a rapid rate. An interesting article,
| written after full investigation, appears in
another column, which should be read by
every home-seeker. 1t presents an array of
facts which fully sustain all the claims
which the Kensington people have made
The rapid rise of this new manufacturing
town is one of the marvels of this marvel
Gus age.
Business Nevk and Gossip.
A deal in real estate of some magnitude
is under way in the vicinity of the Deaf
and Dumb Institute, Williamsburg.
Nearly all of the local corporations are
stronger than they were year ago, due
principally to more efficient and economical
management.
One of the best bull cards of the season is
the declaration by the Pennsylvania Rail-
road of cash per cent semi-annual divi-
dend, as against ~ per cent last Novem-
ber. The cash dividend for the year is
per cent, against 5% per cent in 1890
The street is bullish on coal stocks. It is
believed they will soon sell higher.
1t will take more than the Maverick
Bank failure to put business on its back.
Peoples Pipeage is ''away down." but
/ there is very little Of it on the market.
Five permits were taken out yesterday
two for dwellings costing S4 900 and So, 800
respectively. The others were of small
value, estimated at 81, $50.
At the last call yesterday Birmingham
Traction was offered at 18. Duquesne was
strong at 13.
ALI bids for the Government property,
Penn and Garrison alley, having been re-
jected, it will be readvertised and again
offered December TO-
Standard Plate Glass was stronger yester-
day, advancing to 80 bid.
Movements in Realty,
Charles .Somers & Co. sold for Jacob r.
Layton, of Jeanette, Pa, to prominent
liveryman 1s lots in the Ingram Villa plan,
CHARTERS township, being lots numbered /
to IA and 25 to % inclusive, for price in bulk
appro1imating $1,000.
S. A. Dickic & Co. sold for J. W. Robinson
ct al to William Sheaffer, n lot on Franks
town avenue, Twenty-first ward, 25xl35 feet,
for S6e5.
Black & Baird sold for j. Walter Hay to
James Nesbit lot No. 26, in Haywood Place
plan, in the Thirteenth ward, having a
frontage Of "a feet on Clarrisa street and ex-
tending back l45 feet to an alley, for $500.
Kelly & Rogers sold for H. p. Slaterbeck
6no hfic of ,u,,tl, LOT
on Negley avenue, for $I4, 900 cash to a promi.
nent East Ender; also sold for Smith &
Harney to w. NJ. Price a lot 42xll0 on the
corner of Rural avenue and Sinclair street,
ten rooms for William Baird to Mrs. Huber.
of Reading, Fa.. situate on Euclid avenue.
with lot 1.0x120, for S11, 900: also for W. j.
Bremen to DR.. Bier two lots on Larimer
avenue extension for sl.7OO cash; also for
same to John f. Long and James W. Hille-
gass two lots on Deary street for ST. 500: also
for the First National Bank to N. Mulhol-
land lot on Hamilton avenue, corner of
Dallas, for $3.50; also sold for G. C. Lewis, in
his Atlantic avenue plan OF lots, four more
lots to X. e. Glass for 50 0o0-this is the Sec
plan within month, and makes 25 lots sold
already in this plan; also sold for W. w.
Elderkin to w. j. Kirker 16 lots in the Nine
teenth ward for price close to 5000.
James w. Drape & Co. sold dwelling
with lot about 50xl75 feet, near the parks in
Allegheny, for $ls0J0 cash: also two pieces
OF property IN the East End unlmproyed
size of lots 30xl20 and one 5OxI7O feet. for
$500 cash; also sold several lots in Munhall
Terrace plan, near Homestead, at prices
ranging from $500 to 1915 each. Upward of
60 lots have been sold in this plan thus far
and many dwellings are being erected.
A. Y. Byers s. Co. sold for the Ridgeview
Land Company to Charles Dahlinger, Sr, lot
No. 81 in their plan, corner of California av-
enue and Florida street, in size 4Sxl6O feet,
on the line of the California avenue electric
road, for s., 200.
The Burrell Improvement Company re-
port the following sale of lots at Kensing-
ton: Antonio Monterderde, Pittsburg, lot
"a. block Z, for $s25 90; Thomas N. Morrow,
Fally Carey, Ps, lot II, block !, for $43l 25
cash; Gustav SteinberG, Pittsburg, lot ). half
10, block 8. for $3.50 So: Abel Hale, Mansfield,
lot Z, block Z. for s6Is IS; II. L. Tietsworth,
Parnassus, Pa, N. half lot 80, block g. for
$3.50 So: Joseph Roveyno, Pittsburg, lot 26
block 1. for $3.50 20.
Thomas McCaffrey sold for Samuel Nc
Kee to Louis Loeffel property on Penn ave-
nue., near Thirtieth street, lot 24x130 feet,
with two brick dwellings on the rear. for
6,000 Mr.. Loeffel Is now erecting a large
butcher shop and DIV elling on the front of
this lott Also sold for Margaret George to
James Harris q lot 25xl00 feet on Dickson
street. near Thirty third, for $500.