Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-30
DRIFT OF BUSINESS.
Old Sterrett Township Clipped Al
most Out of Existence.
NEED OF LEADERS TO PUSH THINGS
The Famous Stewart Farm Reported to
Have Been Absorbed at Last.
FINANCIAL AND SPECULATIVE TIPS

FINANCIAL AND SPECULATIVE TIPs
Hints Of big deal in acreage were thrown
out early in the week and referred to in thi
| column, but specific facts could not be OBJ
tanned until yesterday, when It was learned
on good authority that the transaction in
volued the Stewart farm of 200 acres, ad
joining kensington on the north, and thai
the Burrell Improvement Company was the
purchaser. The price could not be ascer
tanned, as members of the company were
not in position TO talk, but it is safe te
place it in the neighborhood of $1,000 This
is the property that was offered to the city
for poor farm at 500 an acre and raised
| such breeze in Councilmanic and political
| circles few months ago.
Almost Wiped Out.
Sterrett township has been clipped SO
much that very little of it remains. The
| first break occurred when wilkins township
| was formed. The organization of the bor-
oughs of Williamsburg, Edgewood and Brush
ton made further inroads. All that remains
| of the township is a narrow strip adjoining
Brushton ana the Crab Hollow district
above Williamsburg. The former will prob
ably be absorbed by BruShton. but the fate
of the latter is not so clear. Inasmuch as
Williamsburg does not want it for political
reasons, it will no doubt be annexed to
Braddock township: This accomplished,
Sterrett township will disappear.
The Value of a Leader.
Speaking of the backward condition of
Grant street yesterday, real estate broker
remarked: "If you will furnish q leader,
some one to erect a first-class building in
the vicinity Of the Court House, will guar
antee that Grant street will soon become
one of the most progressive in the city" He
added: "a leader is Indispensable in every
line of development About a dozen years
ago 1 was agent for considerable vacant
ground on Ellsworth avenue. offered 1t at
very low prices, but failed to find buyers.
Finally almost donated IN acre to a we'll
that he would put house on it costing
not less than $4,000. He did so, and in
addition put up nice fences and improved
his grounds. When all was finished he had
End. This called attention to the locality
and gave it such an impulse that soon sold
out Incidents of this kind are numerous.
a few years ago Mr.. A. H. Rowand pur-
scure part of Edgewood, and built q $40 900
house. He had no near neighbors then but
has plenty now. This plan will work as we'll
to-day as it did ten years ago. All that is
necessary to stir ND things in a dead district,
other conditions being favora BILE, is to make
4 start-break the ice-find some one to pio-
neer the way-and there will soon be no lack
of followers"
To Boom Petroleum.
The maintenance of an Oil department in
the New York Produce Exchange is being
advocated by some of the members with
considerable earnestncss. Some of them
say there is no good reason why the specula-
tion in petroleum should not assume consid-
cradle importance next fall. There is q
probability that the rules and regulations
will be revised for the purpose of inducing
the public to take more interest in the mar
Ret. One of the changes which has been
suggested is a reduction of the commission
rates.
Business News and Gossip.
The big deal on Perrysville avenue, re-
ported yesterday, will accelerate the i'm
provement of that progressive thorough
fare.
Lot selling at Kensington is as active as at
any time since the opening sale. Building
and other improvements are making good
progress.
The largest shifting sheds on the Pennsyl-
vanin Railroad are at Wall. This is new
town, but it has already passed the doubtful
state. Its close proximity to Pittsburg, and
the number and variety of its industries,
make it desirable for home seekers.
The Pittsburg and Western Railway Com
pany has placed a mortgage for $40 900 with
the Safe Deposit and Trust Compa w. as
trustee. The money is to be used for the
betterment of the road.
Sixty buildings, residence and business
are in course of erection at Kensington, cost
ing from $500 to s, 5OO These do not include
the factories.
There are indications that Standard Oil
interests are willing to sell Lead down if it
could be done without the loss of too much
stock. There is talk against the reorganiZa-
tion plan by brokers who have heretofore
been bullsh.
1t is said the coming statement of the
Philadelphia Company will show that
heavy inroads have been made upon the
debt. This will be good news but not sur
prise.
The Pittsburg Oil and Gas Supply Com
pany has leased LILO acres of land near New
Castle, and arrangements will be made for
sinking wells for oil and gas Immediately.
Reports of railroad earnings continue to
figure on the bull side.
New York closed heavy and lower. London
was dull and weak.
The Central Trust Company of New York, |
and the Franklin Trust Company of Brook |
lyn, give notice that they will receive sub |
lative preferred stock of the Demorest Pub |
fishing and Sewing Machine Company. The |
preferred stock is the only one offered for |
public subscription, the whole of the COM |
mon stock being retained by the present |
and associates of the COM |
pany. The subscription books are now
open and will close on August 10 or earlier. !
The business is earning over Sl00, ,00J, suffi- |
cient to pays per cent on both preferred |
md common stock and leave a surplus. |
The Building Record.
Permits for the erection of the following
buildings were issued yesterday:
Southwestern Land Company, two frame |
;wo-story dwellings, 176x3o feet, near Fair
nan and Rebecca streets, Nineteenth ward,
Cost, 5000.
G. w. Dilworth, frame two-story dwelling,
Ox4O feet on Atwood street, Fourteenth
ward. Cost, 81 30.
J. J. Weldon. brick addition, two-story
iwelling. 20xl6 feet, on Atwood street, Four
eenth ward. Cost, sl,325.
John kenworthy,; Drlck two-story dwell
ward. Cost, g 400.
Movements in Realty
Baltensperger & Williams sold for Henry
lreiling to George Schmidt, the well-known
cal estate dealer, the property No. III
;harles street, Allegheny, consisting Of q lot
4x90 to Snyder street, with frame dwelling
f eight rooms, for GOO.
Reed B. Coyle & Co. sold for the Hon. Ar
hur L. Thomas, of Salt Lake City, Utah, a
property consisting of fve-roomed brick
lwelling, with lot S0xl5O feet, situate on
wayne street, lakewood, Pittsburg, Cincin-
ati and st. Louis Railway, for s3 OOJ cash.
W A. Heron & Sons sold in North Fayette
near Oakland. on the Panhandle
sailroad about II acres of land, for s., 500
ash.
A, T. Bvers & Co. sold for j. w. Stedeford
o George Schwe1kert a vacant lot, 35x40
eet, on Bell avenue, Twelfth ward, Ale
heny City, for $500 cash.
Black & Baird sold to A. W. Rupel, lot No.
T Typx-f Nlar, ~