Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-04-15
THE TIME EXTENDED.
Real Estate Auction Board Will Not
Begin Business T0-M0rr0w.
THE EXCHANGE BUILDING AGAIN.
Trend of Speculation Downward, Electric
Leading the Procession.
OFFICE AND STREET NEWS AND GOSSIP

The Real Estate Auction Board will not
begin business tomorrow. This will be
disappointment to many having property
for sale and desiring ready customers. The
delay is due to the failure to finish the room
in time. The date for the opening has ac-
cordingly been changed to the 23d, Thurs
day week, at which time. unless the une1-
pected happen in the interval, the voice OF
the auctioneer will be raised and bargains
dealt out to all in quest OF them. Secretary
Leggate said yesterday that he felt very much
encouraged. and believed the board would de-
velop into full-fedged exchange.
The Exchange Building
1t would be a happy cousummation Of
troublesome piece of business if the real estate
brokers of the city would buy the Exchange
building for their own and such other purposes
as they might elect. There has been some
desultory talk to this effect, but it has gone no
further and is likely to stop where it is. Several
leading brokers expressed opinions on the
subject yesterday. One of them, an official OF
the Auction Board, said: "We have no fund
and no organization to justify such step. We
would like to own the building, but that is
luxury beyond our reach at present. If the
organization which we have just set in motion
proves success, and the members pull to-
gether as they should, we may In few years
be able to buy or build home Of our own.
But at present, and for some time 10 come, we
will be compelled to occupy rented quarters"
Another broker remarked: II think the Ex-
change building is good property, and that 1t is
a good investment at the price asked for it, but
the idea of purchasing it for real estate pur-
poses has probably never seriously entered the
mind of any broker in Pittsburg. We are not
possible think the best thing TO do with the
building is to remodel it for office purposes.
Its proximity to the postofhce would insure for
it plenty of occupants"
Increase in Railroad Earnings.
Railroad earnings are always an. important
factor IN the business situation. Those for
March are alike interesting and gratifying.
Every group of roads shows gain over the
same month year ago. Large increases were
scarcer. but the number OF increases of all
kinds was greater. The gross earnings of 1872
railroad companies for March aggregate $685.
5703l9 on total of IS. 492 miles, an increase of
49 per cent in earnings and 29 per cent in
mileage over March year ago. which in turn
per cent in mileage over March, 1889
Railroad Meetings and Reports.
AT the annual meeting of stockholders of the
P. C. c. d st. l.. Railway Company in this city
yesterday the following directors were elected:
First class for term ending April, 1892: William
A. Patton, George Willard and Briggs s. Gun
ningham. Second class, for term ending April,
1898: W. l. Scott, ]. I. Brooks and John E.
Davidson. Third class for term ending April,
1874: James McCrea, Thomas ID. Messler and
w. II. Barnes. Fourth class, for term ending
April 1856: George B. Roberts, Frank Thom-
son, j. N DuBarry and John P. Green. Re.
ports of business for 1890 showed an increase of
SSsS, Gil II as compared with 1889. There was
an aggregate expenditure of 81 lSS l56 l6 in bet
terments and improvements and in additional
equipment which was all charged to capital
account. The work of extending the double
track between Pittsburg and Columbus was
continued during the year, the principal part
of the work being the thres and a quarter
miles between "Philadelphia Roads and Bow
erstown" and in widening and arching of tun-
mel No. TO-
The annual meeting of stockholders of the
Allegheny Valley Railroad was also held yes
amounted to 81, 5s2 100 81; for the year 1883.
g. 1863 sS5 6o increase, S222 ia 81; total expenses
5sS 65 increase. So. $50 g. The old Board of
Managers were reelected.
The Real Estate Outlook.
w. A. Heron q Sons report that on account
OF bad streets, the miserable weather, and SO
many people being sick for the last two months,
ths sale of property has been retarded; but
now with the opening of good weather, the dry
ing of the streets. etc., there is considerable
inquiry for property, especially that of me-
dunn size in the East End and Allegheny.
They claim that the season has been very good
for renting, but that some houses are left un-
occupied for purely local reasons, either that
were in bad repair, or that they were
not accessible on account of the bad con-
dition of the streets, or that the owners were
asking too much money for them. or some such
local cause that interfered, but that the in
quiry for houses is now fairly good, though it Is
always more difficult to locate tenants out of
renting season than before April l.
Business News and Gossip.
A slight concession in values would cause a
considerable movement in property on the Al
legheny river front.
A large number of Lawrence Bank depositors
received their dividends yesterday. In the af-
ternoon the Fidelity building was about the
liveliest place in the city.
Major A. J. Pentecost-PerrysvilIe avenue is
building up faster than any other locality on
the Northslde. 1t will soon be lined from end
to end with fine residences.
A large tract of East End acreage has Just
changed hands, but particulars cannot be given
for day or two owing to sickness Of the prfnci-
pals to the deal.
Messrs James D. Smith Co. offer to invest
ors $500, 600 first mortgage 5 per cent 3U-year
bonds of street railway companies of Pittsburg
guaranteed principal and interest by the Fed.
eral Street and Pleasant Valley Passenger
Railway Company, which is a sufficient recon-
mendatlon to local capitalists.
OF % mortgages on file for record yesterday
ten were for purchase money The largest was
for So, 600
Mr. W. H. strickler is closing up an import
ant transaction in coal land. There are ready
buyers for all this kind of property on the mar
ket.
The Ferguson office building on Third ave-
nue. is nearing completion. A number of ap-
plications for rooms have already been sent in.
A large number of buildings-some Of them
important-are hanging fire on account of The
expected May strike.
Directors of the Citizens Bank were elected
". Tim, Thomas @ Mellon, % Henry HM Herr, ". of II.
Dennisron, David Blair, Dr. A j. Davis, James
r. Mellon and ]: Nc F. Carpenter.
Messss. Kelly d Rogers are comfortably es-
tabllsh ID in their new and well appointed Of
fees at No 62l6 Penn avenue. where they have
all conveniences for transacting business in
real estate.
At the last call yesterday Electric was Of
fered in 500 and ], 900 share blocks at 13x This
could be done with perfect safety here. It was
obviously bear move
Mr.. N. H. Campbell, teller of the Arsenal
Bank. died yesterday morning, after = brief ILL
tion will take appropriate action at a special
meeting to-day.
The Building Record
Permits for the erection of the following new
buildings were issued yesterday:
Iron City Brewing Company, brick two-story
ice machine, 32x60 feet, on Liberty avenue, Six
teenth ward. Cost 5000.
Iron City Brewing Company. brick one-story
boiler house, 40x42 feet on Liberty avenue,
Sixteenth ward. Cost, 5000.
Mrs. Esther Gusky, stone two-story stable. 2l |
xS5 feet rear Fifth avenue. Twenty.second |
ward. Cost, SO. 925
Mrs. Rosa Loetfier, brick addition, two-story |
dwelling, l0xl6 feer, on ThIrty.ninth street,
ward. Cost, $3.50.
R. w. Dusenberry, brick one-story stable, OAK |
l6 feet, on Edna street, Sixth ward. Cost $3.50. |
D. Fritz, frame two-story stable l2xl4 feet, on |
Fifth Avenue. Fourteenth ward. Cost. $50