Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-05
TRADE OF THE CITY.
Market House and Hotel Ideas in
East Liberty Assuming Shape.
ENCOURAGING To HOME SEEKERS.
A Conservative Business Man Rises to
Sound Mild Note of Warning.
FEATURES OF HONEY AND SPECULATION

About year ago a few enterprising citi-
zens of East Liberty commenced agitating
for market house in that quarter. They
believed it was necessary, and, besides,
would be profitable investment. They
have been working up the scheme ever
slnce,' and yesterday one of the promoters
reported that sufficient money was in sight
to assure success. He added that the loca-
tion had not yet been definitely decided,
but as there were several good sites in the
market, he thought there would be no
trouble in making q choice The same in
formant also stated that the site for the
proposed hotel. of which previous mention
has been made, is practically settled. 1t Is
on Frankstown avenue.
Better for Home Seekers.
There are many things to encourage home
seekers, which, taken together, make it
much easier for a workingman to change
from renter to proprietor than was the case
a few years ago. Then owners seldom
parted with property unless they got the
money in hand or so secured as to be equiva-
lent to spot cash. This made it hard for
purchasers of limited means to meet pay
ments as they fell due Now all of the real
estate agents are in position to make
terms to suit buyers. Then mortgages had
to be paid in bulk. Now, by the liberality
of one or more of the leading financial in
stitutions Of the city, they can be paid in
installments. The change has been bene-
fetal to all classes of home seekers but
most of all to working people, as it gives
them every opportunity in the world to own
the houses that shelter them. The change
has also been of great benefit to the city.
which, under its influence, is growing be-
yond all precedent
Note Of Warning.
1t is we'll enough to all phases of the
business situation and all views bearing
upon it, and let the public sit in judgment.
A former active member of the Stock Ex-
change, now engaged in developing oil ter
ritory, said yesterday: 81 admit that busi-
ness conditions and the temper of the people
are bullish. There will, no doubt, be
heavy spring trade. The bulge may con-
tinue throughout the year. But am afraid
of a reaction. The abundance of idle money
is to my mind q bad feature. 1t is a great
temptation to@extravagance. reckless specu-
lation and overproduction. I do not say
that these will necessarily follow, but fear
they will sooner or later. In any event, it
will do no harm to put the people on guard.
1 think the danger point will be reached by
July. The position of affairs then will de-
eide the fate ofthe country for the next two
or three years.
Business News and Gossip.
Another story is to be put to the big
Gusky building. The work was begun yes
terday.
The success of apartment houses in Allie
gheny will, it is said, lead to the erection of
several others this year.
William F. Maxon, who recently retired
from the Stock Exchange, has connected
himself with the real estate firm of Baxter,
Thompson 4 Co.
offer of SIS 600 home money at per cent fiat.
There is likely to be, within a short time,
An active movement in realty on Main
street, Lawrenceville. Several deals are
under way, all of them involving building
projects.
The recent advance in the price of Thorn
son-Houston and Edison General Electric
stocks has revived stories of q probable
consolidation.
The Illinois Central has given up all
thought of utilizing electricity for the
likely to be attempted until after the
Worlds Fair is over.
Ferdinand Manns has sold to F. A. Hannah
ls1 $50 feet in Sharpsburg, with a good frame
After the last call yesterday Birmingham
Traction was offered at 22A. On call 81 was
offered for 100 Duquesne. There was bid
Of SO for slo, 600 Duquesne bonds and s511 for
Two permits for the erection OF buildings
were issued yesterday, aggregating $IS5O
The Enterprise Savings Bank of Allegheny
has declared a semi-annual dividend of 3 per
cent.
Movements in Realty.
number of deals have been tied up by
the dispute over valuations. The sooner a
settlement is reached the better for busi-
ness.
Iti stated that an offer has been made
for the farm owned by the late DR.. John |
Douglas, near Sewickley. 1t contains about |
so acres |
W. A. Cole sold for f. B. Tomb to 1. H. |
Aaron two-story frame house of seven |
rooms on lot S6xll0 feet on Lamar street, |
for S., ,200
Reed B. Coyle II Co. sold for j. C. Dick two |
frame dwellings of eight rooms each, with |
all modern improvements, situated on Rural
avenue, near Negley, East End, for 81, 600.
w. A Heron & Sons sold house 29S Center
avenue, lot 19xl0O feet. with a good frame