Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-18
THE TREND OF TRADE.
No Bad Features but Business Nov
ing on a Midsummer Basis.
THINGS IN GOOD SHAPE FORA TURN,
Which Is Sure to Come When Foreign Gold
Comes Over for BreadstuffS.
OFFICE AND STREET NEWS AND GOSSIP

OFFICE AND STREET NEWS AND GOSSIP
Thirty large lots, just above Sharpsburg
changed ownership yesterday, the consider
alton being $3.50. The purchaser, a business
man, will begin improvements at once
James W. Drape & Co. were the agents en-
| ployed. Prospect of quick locomotion is
bringing that locality into considerable
| prominence.
| Papers have been executed confirming the
sale by Jenkin Jones, as trustee, to James
| Evans, of block on Mary street. Twenty
sixth ward, for $50 900. This is the glass
| factory referred to in this column some
| days ago.
Absorbing the Suburbs.
Pittburg is pushing into the outskirts with
such rapid strides that there is not much
danger of getting beyond the reach of bust
ness or work, since both follow closely upon
the advance of population. The growth ofthe
East Liberty district is a good illustration of
this ruralizing tendency. In the last few
years hundreds of acres have been plotted,
sold and covered with handsome houses.
The impulse is still forward, and it will not
be long before the boroughs of Brushton,
Williamsburg and Edgewood will be things of
the past. In other directions the encroach-
ments of the city are not so pronounced, but
now that rapid transit has set the ball roll
ing development Will be accelerated.
Loans on Leaseholds.
While the practice of loaning money on
leaseholds is quite common in Eastern cities,
it is difficult to secure such a loan in Pitts
burg except from the owner of the land. No
satisfactory explanation of this state of af-
fairs is given. When property has reached
such point that long term leaseholds are
considered valuable holdings it is somewhat
strange that loans are not readily advanced
upon them. A loan on a leasehold is usually
building loan and, of course, is based on
second mortgage as security. These circum-
stance and conditions have caused investors
to be reluctant in placing loans on lease
holds. safe loan may be made on a build
ing on leased ground, but there seems to be
a prejudice against it. The fact that in many
cases leaseholds have no actual present
value may have some effect on money
lenders.
The Boom at Blaine.
Thursday was a great day at Blaine, the
occasion being the opening sale of lots by
Charles Somers Co. Steamboats, and trains
arrived loaded, and there was large turn
out from the country. The crowd was esti-
mated at 5000 to 5000. Upwards of $50 lots
were sold at the average price of about S400
Sales aggregated between $50 900 and $I0,0 ,000
The corner stone of the American Vault,
Safe and Lock Manufacturing Company was
laid with appropriate ceremonies.
Business News and Gossip.
Building operations have been resumed
with such vigor as to warrant the belief that
most of the lost ground will be recovered be-
fore cold weather.
The directors of the Baltimore and Ohio
have practically decided to issue a stock
dividend out of the surplus earnings for the
fiscal year ending September 30.
The annual meeting of the stockholders of
the Northern Liberties Bridge Company will
be held August IL
The Citizens Insurance Company has de-
clared dividend of 81 per share.
The Watch Trust has gone to pieces. The
Illinois antitrust law knocked it out.
The fire losses of the United States for the
month of June are estimated at IS, So, ,625.
Stockholders of the Lake Street Elevated
Railroad of Chicago have voted to increase
the capital stock from s., ,O0O 900 to s., 900.
The directors of the Pennsylvania Water
Company have declared the regular semi
annual dividend of per cent on it preferred
stock for the six months ending July ].
The bond market is looking up, and ex
perts say it is now easier to sell flrst-class
bonds than to buy them.
A farm of 60 acres in Pine township is
about abe, changing T oMTnership $40 an acre.
The per cent just declared by the dtrec-
tors of the Huntington and Broad Top Rail-
road is the first dividend ever paid the COM
opened 35 years ago.
For Electric Scrip "a Twas bid yesterday,
offered at so.
There were 80 mortgages on the Recorders
file yesterday, involving $57, ,3s4 The largest
was for $1,000 Twenty-Five were for
purchase money. The sma II number of
forced sales shows that mortgages are being
The Trow Directory, Printing and Book.
binding Company offers portion of its
securities, $4,000 of 8 per cent preferred
scription. 1t has no bonded debt, and its
assets consist of real estate and tangible
property in the city of New York.
London advlces are to the effect that the
growers expect good prices owing to the un-
favorable prospects for the American crop
Owl Owing to the lack Of Of rain the distress in
ment has been petitioned for grain to relieve
the distress and famine.
One OF the largest stock houses in Chicago
claims to be getting call money in that city
at per cent.
The Building Record.
Permits for the erection of the following
buildings were issued yesterday:
Richard r. Baum brick two-story and at
tic dwelling, 30xl4o feet, on Rebecca street,
Twentieth ward. Cost, S6, ,0O0
George r. Baum, brick twostory and attic
dwelling, 3Ox40 feet, on Center avenue,
Twentieth ward. Cost, S6, 900.
Judge S. Klinefelter, brick twostory and
attic dwelling, 34x35 feet, Rebecoa street,
Twentieth ward. Cost, S., 600.
George Schenkel frame two-story dwell
ing, 2Ox32 feet, on Orphan street. twenty
first ward. Cost, 81 900.
John d. Banks, frame two-story dwelling,
l6x32 feet, on Gladstone street, Twenty third
ward. Cost, 81, ,064.
Samuel Jones' addition basement to dwell
ing, 11xls feet, on Mohawk street, Four
teenth ward. Cost, 500.
Movements in ReaItv
S. A. Dickie & Co. sold for Mawhinney &
Dick to H. L. Benner piece of ground on |
the corner of Broad and Euclid streets, East |
End 95x93 feet, for $500.
George Schmidt sold six lots having a |
frontage of 120 feet on Mama avenue and |
extending back 100 feet to an alley, and be- |
ng Nos. 81, 63, 64, 65, 66 and 81 in his Eureka |
Place plan, Oakland, to Henry Kreiling for
,S 5O0