Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-15
FEATURES OF TRADE.
Another Sale on Penn Avenue In
volving a Nine-Story Building.
FORECAST OF.THE MONEY MARKET.
LEGAL Stocks Begin the Week With Fair
Sales and Strong Prices.
OFFICE AND STREET NEWS AND GOSSIP

Another deal in Penn avenue property
was consummated yesterday. Black 4
Blair sold for G. j. Young, No. S15 to T. A.
and R. G. Gillespie for 81. 900. Mr.. Young
bought it short time ago from DR.. Dake
and made good thing on the turn. The
property consists of lot 22xx1SO feet, with
good three-story building. The purchasers
will Immediately begin the erection of a
nine-story business house, as will also Mr..
Harvey Childs, who recently purchased
through the same agency the adjoining
property, also owned by DR.. Dake. Two
nine-story buildings, contiguous and uni
form in appearance, will add vastly to the
business facilities of that part of the ave-
nue., and be stimulus to other owners.
A Change Impending.
about due and that it will be for the better,
so far as general trade will be affected, no
one seriously doubts. On this subject re-
cognized authority says: "Aprll settle
ments will naturally cause increased de-
mand for money from the country banks,
as the period mentioned is settling time in
a number of States, and bankers in those
sections have Informed their correspond
ents in New York that they are likely to
withdraw the bulk Of their deposits from
the 1st to the 18th of April 1t goes
without saying that any appreciation in the
rate for money in the street would be likely
to unfavorably affect the market price of
certain specialties which are now enjoying
a conspicuous place in the current specula-
tion. % Bnt at the same time it would de-
note a better commercial demand for funds.
Considerable of the money to be thus with
drawn will enter into the channels of trade
and net be returned to the banks 1t is
Just as we'll to recognize the fact that there
soon will be decided change in the money
market.
Condition of the Coal Trade.
According to Philadelphia advices to the
Wall Street Ne,cs, the coal trade the past week
did not show any sign of increased activity,
although the shipments for the previous
week reflected an increase Of 102, 552 tons,
and for the year to date an increase of 344,-
682 tons as compared with the same period
last year. These figures indicate that, with
the slow demand usual at this time of the
year, the stocks at tide-water are increasing.
Notwithstanding these facts, however, very
little or no cutting of prices is reported.
The demand for manufacturing sizes con-
tilues brisk Reports from the coal regions
are to the effect that several large collieries
have suspended operations for the present.
The Schuylkill region is producing at about
two-thirds rate.
The Corporation Record.
The United States Corporation Bureau
reports the list of newly completed incor-
porations in the United States for the week
ending March 4, 1892, as follows: Total cor
porations, 400. Total capitalization, $780,
375, 900 distributed as follows:
a
Banks mot nationaij and invest.
ment companies, 12........ 1,435, 600
National bspks. ito Feb. 49, 49,. 250,000
Gold, silver and:other mining and
smelling companies. 40. ....... IS, 424, 900
Coal and iron companies, 29......... 57,7l0,0oO
Light, heat, power and transporta-
tion companies, ,30.................. 9.925,OOO
Building and loan associations, 49,. $4,000
Irrigation companies, 3.. $3.50
companies, l55........ 1926, 200
Bonds Again In Favor.
A New York bond specialist says: 'The
recent slackening of the investment demand
has been succeeded by renewa! of active
buying. The failure of the money market
to display hardening tendency has nat
urally brought institutions back to the bond
market, and the past week presented as its
select class. Prices were accordingly steady
for the better grade of securities, while some
special movements affected the lower-priced
issues" There is good market for Pitts
burg street railway bonds, and they mani
fest an advancing tendency.
Business News and Gossip.
1t is said another move will be made this
week in the East Liberty market-house pro-
ject.
Messrs Kinney & Co., founders and ma
ch:nists, have purchased an acre of ground
from the Scottdale Iron and Steel Company,
adjoining their shops and are
plans to enlarge their plant.
news we can give this week is to announce
that the safe factory at Blaine is an assured
thing"
pany, of Youngstown, o., the Youngstown
Gas Company and the Mahoning Electric
L.xht Company have effected comb bine.
McClees 3 Parkinson, Of West Elizabeth.
erection of an Office building in that place.
Ten permits were issued yesterday for a |
like number of buildings and tenements,
in estimated value $40 100. The |
most expensive of these will cost 1925.
AT the last call Yesterday asH was bid for
Manchester Traction. United States Glass, |
lion at 95, and Birmingham Traction at 2s
John B. Barbour, of Rea Bros. & Co., was |
on deck yesterday, looking little the worse |
Tor q 10 days attack of the grip.
The gross earnings OF 104 railroads in Feb |
ruary were $77, ,s00, 000, an increase of $780,
100.
Movements in Realty.
John, H. Straub, the Bloomfield brewer, |
closed the deal for q building on Rebecca |
street yesterday for $l2, $50 cash. This trans
lction, in its early stage, was rferred to
lew days ago, but the consideration stated
was not high enough.
]. E. Glass sold for A. c. Watkins lot No.
70 in the Allequippa Place plan No: 2, for
,45O:
Dennisron, EIderkin &Co sold in the Fahne.
street 1000 feet wide) and to be graded,
paved and severed. and l65 feet on McPher-
ION street for an aggregate of sl4, 500 the pur
yer. A part OF these lots will be built upon
It once and the rest held as investment.
They also sold for Joseph Brie, L. Vilsack
md W. j. Friday two we1l-known East End
business men all of the frontage on Belle
onte and Filbert streets, of what is known
10 the Marine Hospital plot adjoining the
ioup school, being 360 feet frontage. The
buyers will at once subdivfde the plot into
OTIS and place part OF them in the market.
they expect to begin the erection of some
.ood houses on the rest of them soon. They
Llso completed the sale to 7. d. Harman Of
or 81, 800. This tract is near Larimer avenue
,ridge, and will be subdivided at once and
placed on the market.
Black & Baird sold to Otto Eichinger lot
So "a in the T. A. Gillespie plan of Heron
Hill Park, for $500.
The Burrell Improvement Company re-
,ort the following sales OF lots at kensing-
on: Robert ]. Cunningham, lot 81, block 10,
edward III. Kendall, lot "a. block 8. 81, 800;
Z: Koniyki and j. Golincki, lot 81, block IA.
722 60
Peter Shields reports the sale oflot No. ls4,
Greenfield avenue plan, Twentythird
ward, for $3.50.