Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-03
THE DRIFT OF A DAY.
Pittsburg Not Much Affected by the
Boston Bank Failure.
GENERAL CONDITIONS ALL RIGHT.
Business on Change Knocked Out by the
Approaching Elections.
ANOTHER GOOD DEAL ON THE NORTHSIDE


The most important deal in real estate
that came to the surface yesterday, was the
purchase by w. A. Heron & Sons, for the
| Schenlcy estate of the property of the ALE.
gheny Light Company, lot and buildings,
on East Diamond street, Allegheny, for
SAC, 900 The Schenley estate owns adjoin-
ing property and wanted this to round ii
out The lot fronts 60 feet on East Dia'
mond and runs through to Sanduskv street.
Glance at Business Conditions.
There was cloud about as big as man s
hand upon the business horizon yesterday,
caused by the embarrassment, possibly fail
| ure, of the Maverick National Bank OF
Boston. While there are no apprehensions
of serious results to Pittsburg, or the coun-
| try, from this financial misft, its effect will
be more or less depressing until the affair
shall be bridged over. 1t is too big thing
not to be felt outside of the limits of Bos-
ton.
Troubles may come and troubles may go,
but business will pursue its customary
course. American capital, brains and in
genuity constitute a triad of almost uncon-
querable factors. They cannot be downed
by anything short Of a general catastrophe.
Pittsburg is as sound, commercially and
financially, as at any former period in her
history.
Conditions, locally and generally, with
few exceptions resulting from dishonesty,
extravaganza or mismanagement, are work.
ing together for forward movement after
the elections. The great holidays Of the
year are coming near. This is always a time
of great activity in Pittsburg, and this sea-
son will be no exception. Merchants are
making preparations fer even heavier sales
than last year, which were the largest in the
history of the city. Enterprise of all
kinds is favored by an easy money market
and a tendancy toward still lower rates and
easier conditions The bugbear of a strin-
gent market no longer chills the ardor of
enterprising people.
One of the most encouraging features of
the situation is the continued receipt of
favorable railroad returns. Reports are al
most uniformly good. Returns for the third
week of October, for instance, embracing SO
roads, show a gain of $871, ,512 over the cor
responding time last year. The iron mills
Further evidence of sound business
basis is furnished by improvement in the
bond market. A year or more ago all first
class railroad bonds were selling on 8 and
4 per cent basis; now, owing to the fact that
for year or more the rates for money have
averaged we'll up to per cent, the bond
market has accommodated itself to the new
conditions and first-class securities can be
had which will net the investor from to 5
per cent.
Business News and Gossip.
Business was rather slow yesterday. This
is always the case on the eve of an election.
The Exchange will be closed to-day to
give brokers an opportunity to help 'save
the country"
A light and power company, capital $780,
600, has been formed at Springfield, o.
A high official of the Pennsylvania Rail-
road said yesterday that there would be a
reduction in fare this month between
would be taken off was still under consider
alton. He seems to favor uniform rate of
cents.
The regular annual meeting of the Ameri-
can Bankers Association will open at New
Orleans on the 11th. It will last two days.
Pipeage distinguished itself yesterday by
declining to the lowest point in its history.
Fisher Oil Company stock was stronger.
Charters were issued at Harrisburg
yesterday as follows: The Hostetter Con-
nellsville Coke Company, of Westmoreland
county; capital stock, $1,000; directors
Charles s. Crawford and Ernest w. Beach,
Pittsburg, and George B. Motheral, Allie
gheny. The Shippingport Ferry Com
pany, of Beaver county; capital stock,
81, ,0O0 The Pattlson Building and Loan
Association of Pittsburg; capital stock,
81 ,000, 900.
At the annual election of the Allegheny
and Perrysville Turnpike Road Company,
yesterday, the old board of, directors was
retained in office.
The annual meeting of the stockholders
of the Fidelity Title and Trust Company,
will be held on the 18th, and that of the
Western Insurance Company on the 10th.
The Real Estate Savings Bank. Limited,
has declared the usual semi-annual divi-
dend, and increased their surplus to $4,000.
Movements in Realty.
c. H. Love sold a property on Emerson
street, East End, lot 30x125, with two
story and mansard stone and brick building,
for William L. Smith to c. L. Reno, for S., 600
cash.
j. C. Allies Bros. & Co. sold for Charles
Bossert, of Homestead, to Franz w. Zwinge,
the property corner of South Seventeenth
street and Bingham street. an eight -roomed
brick and a four-roomed frame house, with
lot 4Ox60 for s. $50.
A. Y. Byers & Co. sold for John and James
Berry, to Thomas McTighe, the property No.
137 Rush street, Sixth ward, Allegheny City,
being brick house of four rooms and attic,
with lot l6x5 feet to an alley, for 50 400 cash.
j. Z. Glass sold to Thomas w. McCune for
L. H. Aaron, his new two-story frame resi-
dence, situated corner Wallace and Terrace
streets, Fourteenth ward, with lot "a xlOO, for
Sc, 800.
A. j. Pentecost sold lot 81 in his Valley
View plan, CHARTERS Valley Railway, with a
small frame dwelling, for 1915.
S. A. Dickie & Co. sold for T. C. Hosack to
II. W. 1ngersoll two vacant lots on Bennett
street. Twenty-frst ward, each 25xl35 feet,
for 81, 100.
Baltensperger s Williams sold for Isidor
H. Aaron, ESD, lots No. As, 40 and so in the
Gifffn plan, Mt. Washington, east
fronting "a feet on Leila street and extend
ing back l20 feet, for $780,
Charles Somers & Co. sold for E. P Jones
to Edward Kelvey, lot No. 302 in the Jones
plan of lots, Thirteenth ward, city, fronting
20 feet on Arch street and extending lls feet
to a line, for $3.50.
The Building Record.
Nine permits were issu ed yesterday for
ten improvements, the total cost being esti-
mated at sA,225.
Klemm & Sons brick two-story plumbing shop on
Penn avenue, Fifteenth ward. cost. SI.Ot0 Mrs,
mouth street. Thirfy-ffth ward cost sl.Soo. Mrs.
osie Gray frame two-story dwelling, ON Plymouth
street. Thirty fifth ward. cost. 81, 700. Mrs.
on Moore street. Thirteenth ward. cost $3.50.
John Gum, frame two-story dwelling. on Carne-
TaT cost
Eighteenth ward. cost 81, 400. Mrs. L. Miller
frame two-story dwelling and store, on Morning
SiJe rou; iE t,voNstnry s1,hIe ou sie' yos'