Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-18
FEATURES OF TRADE.
Complaint of Stagnation in the Local
Mortgage Business.
POINTS IN THE COPPER COMBINE.
Higher Prices Slated for southslde and
West End Zeal Estate.
DRIFT OF MONEY AND SPECULATION

DRIFT OF MONEY AND SPECUI.ATIO,
The mortgage market is unusually quiet
A Fourth avenue specialist said yesterday
"With an abundance Of cheap money busi
ness in this line ought to be active, but tn
contrary is the fact. There is comparatively
little doing. There is plenty of local capi
tai on the market at 6 per cent in small
sums, and in large amounts, say $25, ,00
and upwards at and State tax, but peopl,
do not seem to want it. They are evidently
economizing. look for radical improve
ment when the weather settles, and the
building season opens about the middle O.
April"
Prices Win Go On.
Although still confined to the paper stage
progress IS reported in the rapid transit
projects for the Southside and West End,
and there is strong impression that some
of them will go through this year. Nowhere
else is improved transportation more
needed. 1t will give easy access to those
districts and open to settlement several
thousand acres of land admirably adapted
to residence purposes. Southside and West
End property is lower than in any other
parts of the city, but the introduction of
cable and electric cars will stiffen values in
short order. Already an advancing ten
dency is apparent, and it will go on until
prices are on an equality with those on this
side of the river Home-seekers should
take this matter into consideration.
The Copper Combine.
The latest information at hand concern,
ing the new combination of the copper ro-
ducers is to the effect that the agreement
has been perfected; that all the American
companies have assented to 1t, and that all
that is now needed is to get certain foreign
properties in. The allotment of annual
production as finally decided upon is said
to be as follows: Anaconda, $4,000, 900
pounds; Calumet and Hecla, $4,000, 00c;
Quincy, 10000, 900; Parrott, 100000, and
the lark-Bigelow properties-the Tama-
rack, Osceola, kearsarge, Montana, Butte
and Boston and others, 65, 900, 600, making
an aggregate of 225,0O0, 900. These figures
represent considerable increase over last
years total production.
High Prices in Chicago.
Pittsburg realty is increasing in value
wear by year, but it has not reached point
that can Justly be called excessive. 1t is,
as frequently pointed out, cheaper than in
any other city in the country. For in
stance, property at Chicago Heights has ad-
vanced from $3.50 to $3.50 an acre within a
year, and other tracts. especially such as
have good transportation facilities, are also
steadily rising in price, So is property
along the route of the proposed drainage
canal. Inquiries in this respect come not
1r i%o1i ietc hnf he ant
side. At the same time, owners of central
property with old style Improvements are
demanding prices almost as high as those
quoted for property fully developed by
modern buildings.
Big Grain Shipments.
Reports from the Northwest state that
there are 1000 cars Of wheat already loaded
and standing on sidetracks waiting for the
roads to find time to transport them to
Eastern markets. Taking 80 cars as an
average train load, this would make little
over 36 trains, and more grain is being
brought to the tracks as fast as cars can be
found in which to load it, so that there does
not appear to be much reason that the roads
in that territory will not be kept busy for
time to come.
Business News and Gossip.
A new plan OF lots in the Greenfield ave-
nue district will soon be in the market.
Contracts have been let for material for
Senator Flinn's IS houses in his Greenfield
avenue plan.
Western railroads are doing a prosperous
business. The bulk of the freight is grain,
but great deal of merchandise is also being
Frederick Greiner has sold to the Miller's
Run Coal Company. Limited, 4SS acres of coal
and in South Fayette township for $Sl 500.
fp.un Nt,n nj fao
Of the stock market That they will sell
higher is the prevailing opinion.
Among the incidents of the day was an
shares of Philadelphia Gas at 1sL during
April. It was offered at 1871. On Peoples
Pipeage $25 was offered to call 100 shares at
Ii next month.
No change was made yesterday in the
Bank of England rate OF discount.
The first sale of Electric preferred was
made yesterday. 1t went at 40
1t is reported that a So GOO share pool has
been formed to put Western Union to 95.
Movements in Realty.
1t is about settled that there will be no ho-
.el at the corner of Liberty and Sixth
streets. The New York gentleman who was
working the scheme has given it up and
zone home.
W. E. Hamnett & Co. sold lot on Trenton
venue, Williamsburg, for s., 800
The Burrel Improvement Company report |
he following sale of lots at Kensington: |
Robert j. Cunningham, Manorville, Pa, lot |
i, block l5. for $72a 80; James Carson, Allie |
.heny, lot g. block Is, for $637 so; George B. |
Miller, Mansfield, Pa, lot 75 1or 1925 |
ash; Alphonse Ricaille, Tarentum, Pa. lot
Z, block 10, for $500 cash; Stephen Horn, |
Satrona, Pa, lot 81, block 8. for s4ss rs;
Thomas Egan, Pittsburg, lot ISL, block g. tor |
$40: Leonardo Bordanaro and Joseph Bord- |
marc, Tarentum, lot II, block 4 for $3.50 cash;
.nthony Duhl, Pittsburg, lot 81, block l3, for
637 so: Salvatore Catemzaro, McKeesport, /
,art OF lot 50 and lot 5s, block L. for 81 O12;
Jacob Miller. kensington, lot 60. block IT, 1or
CSC 25; John d. Hall, Parnassus, lot No. ],
,lock !, for $552 so.
j. H. Coleman sold for F. H. Spen two
tory and attic frame dwelling, with all i'm
tor s., 400 cssh.
Peter Shields sold lot No. 2ll, 30x9o feet.
ocated on Hantasket street, in the Green
eld avenue plan, Twenty third ward, for
6O0
Liggett Bros. sold lot 50x13O on Atlantic
venue, Twentieth ward, ior So, 125. Sold for
v. H. Granger. The purchaser will i'm
'rove the property at once with handsome
eSidence.
HOME SECURITIES.