Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-13
TRADE '0F THE CITY.
The Local Railroads Take Stock in
the Future of the City.
MORE BUILDING INTELLIGENCE.
A Scarcity Of Storerooms Suitable for Mod
crate Concerns.
DETAILS OF THE CAR WHEEL co. DEAL


in very practical way. The rapid growth
of the city in the last few years took them
by surprise. They were not prepared for
If, and found themselves cramped for room
to accommodate the greatly increased busi-
ness. They are catching up with the pro-
cession, however. Nearly all of them have
or will augment their yard facilities and
enlarge their depot space. The Pennsyl-
vania and the Baltimore and Ohio have al
ready done much in this direction, but each
is planning additional improvements
Other roads are also enlarging their facili-
ties and putting themselves in position to
keep step with the material progress of the
city.
Local Building Intelligence.
eff nothing happens, building this year
will break all previous records" So said q
prominent architect yesterday. Facts are
in line with this prediction. Schemes are
materislizing daily. Baxter, Thompson &
Co. are about completing arrangements for
the erection of 30 dwellings on Addison
avenue, Ruch place, work on which will be
started about April l. They will contain
from five to six rooms each, and be modern
II.
Eas: End capitalist, who is the owner of
Irving place, is finishing two handsome
brick residences on Liberty avenue, near
Center. He will soon have several more
under way. j. S. Kleinfelter, the con-
| tractor, is erecting fine residence on Re-
becca street, just above Center avenue.
| Williamsburg builders think at least 200
houses will be built in that district during
the spring and summer.
Scarcity Of a Certain Glass OF Stores.
Once in awhile the cutting of the hump
is revived in some form or other in business
circles. The enormous advance of values
| downtown has caused rentals to Jump cor
respondingly. This excludes from the prin-
cipal streets such as Smithfield Fifth and
Fourth avenues, Market. Liberty and Penn
avenue all but merchants or business men
who can pay big rents Fourth avenue
is no longer attainable excepting by
renters with long pocketbooks. This
Will soon be the case with Third avenue
also, as it is already with Sixth avenue.
Where are the moderate concerns to CO. or
those about starting in business with small
capital? When people are faced with this
query, as they are about renting time, they
think and talk of the advantage from the
cut of the hump, which would double the
area for Pittsburg's business, and by invit-
lHS OulSlue capital WOulQ nelp all pdTbS OI
the town and all interests.
One business man on Smithfield street.
whose lease expires this April, said yester-
day that while he recognized Pittsburg as
one of the best cities of the country to do
business in, he could not find a place down
town on any of the leading thoroughfares
except at a rent above what the size and
character of his business warranted. IF the
demand for downtown places continues it
will also increase the demand among busi-
ness people Of smaller capital for more ac-
commodations elsewhere suited to their pur-
poses and to their pocket.
Another citizen who heard the remark
said thai he was prepared to verify the
detriment to Pittsburg from want of room
by circumstance within his personal
knowledge. He said that one of the lead
ing life insurance companies of the country
had commissioned him to look out for site
on which to put up costly building in
Pittsburg, and when he reported the prices
asked for downtown property centrally sit
uated they dropped the matter. The pres
ent grade made such building undesirable
above Smithfeld street.
The Car Wheel Works Deal.
The property purchased by the New York
CarWheel Company, of Buffalo, for $40, 900
reported in this column yesterday, is that
known as thes Iron City Manufacturing
Company's Works, cerneH of Home and |
Hatfield streets, Seventeenth ward. The |
lot is 100I320, with large, substantial IRON !
clad building. The deal was conducted bt |
President Griffin, of the car wheel company, |
who came here for that purpose, through |
the agency of Henry A. Weaver & Co. !
There was some difference at first in regard |
to the price, but it was easily compromised |
Suitable machinery will be introduced and |
the new enterprise carried forward on an |
extensive scale.
A Flattering Statement. |
Everybody who holds a polisy in the |
Connecticut Mutual Life Insurance Com
pany must be thoroughly well satisfied with
the showing of the company's business in |
its forty-si1th annual statement, published
in another column of The DISPATCH. The
figures tell the story. The gross assets are
nearly 500. 600, 900; the income for the year
nearly sS,000,OO0; the surplus more than
Sc, ,OO0, 900; payments to policy holders dur
ing the year, S., 500, 0O0 increase of assets
holders and a great many other people will
read with interest the report which Presi-
dent Greene presents as to the general busi-
ness and condition of the company. He
makes it clear that the company is continu-
ing on its conservative course, and that the
great mass of new business which has come
in has not been secured at heavy cost.
Silver Takes a Tumble.
The decision of the Senate Finance Com
mittee to report unfavorably all free coin
age bills, says New York authority, had
a depressing effect on silver certificates.
The priceis now at the lowest point it has
and the only remedy for the exist
ing depression is a curtailment of produc-
ton. That this will be adopted there is
every reason to believe. Some of the
smaller mine owners fnd it improbable to
continue working. as profits are all eaten
away bv freight and reduction charges, the
only profit being made by the ref1ner.
Business News and Gossip.
Messrs. Kann & Co. are putting the finish
ing touches to their big building on New
Grant street. 1t will be one of the best
equipped business houses in the city.
Hartman Guice has sold to T. R. Vankirk
tract of land in Versailles township. with
for $4,000
The Western German Bank and the Atlas
National Bank, of Cincinnati, were awarded
Longview Asylum bonds They paid a
of SI23.
lebanon and Myerstown, Pa, are to be
connected by street railway, company
having been formed Tor that purpose with o
ca pital of 100000
Nine permits were issued yesterday for the
erection of l3 buildings aggregating 81, 100.
The only one of special importance WAS
taken out by James Evans for four frame
two-story and attic dwellings on Dearborn
street. Nineteenth ward, to cost Sc, 700
At the last call yesterday 9s1a WAS bid for
s25 900 Birmingham bonds, offered at 90, and
G lass preferred los was bid and s231a for cleo
trio scrip.