Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-01
TRADE OF THE CITY.
Sale Of the o. P. Synod Property Con-
firmed by the Court
WILLIAMSBURG TO HAVE. A BANK.
Over One Hundred Millions Invested in New
Business Enterprises
INCREASE IN RAILROAD EARNINGS

| are upward Oh lUU STORES, DeSlueS several
planning mills, lumber yards, an electric light
plant and two Touring mills, also some
smaller industries. It is inconvenient and
] expensive to transact this business through
Pittsburg banks The need of bank hav-
ing, therefore, become imperative, steps
have been taken to establish one under the
national banking laws. The prime movers
| are Messrs Duff and Langftt, both we'll
known members of the Pittsburg bar. Over
| 100 shares of the stock have been taken, and
| it is expected the remainder will be placed
in short time. The bank will be located
on Penn avenue or Wood street, probably
| the latter.
Approved by the Court
The sale of the Speers property, on Lib
| erty street, to well-known commission
| merchant, and noted at the time, has been
confirmed by the Orphans Court. Accord
ing to the'will of Mr.. Speers, the property,
which consisted mostly Of three houses and
lots in this city, was to ''be supported in
good order and condition for the term of so
years. its annual proceeds to be applied to
the spread of the gospel here and else
where" at the end of which time it was to
be sold and the proceeds appropriated to
the above purposes in such way and manner
as the United Presbyterian Synod, at reg
ular meeting thereof, or a General Assem-
The so years expired July 81, 1891, and the
executors have carried out the provisions OF
the will, so far::as this duty devolved on them.
The proceeds arising from the sale of the
estate amounted to $141, ,884 81, made up of
81, 009 "a in cash, and $97 1875 in bond and
mortgage. This estate furnishes an illustra-
tion of the increase in value of real estate
in these cities. When the collateral inher-
itance tax was paid, at the beginning OF the
80 years, the estate was valued at only
$4,000.
Paid In Full
In 1890 Fayette county, Pa, issued $685.
900 per cent semi-annual 25-year Court
House bonds Of this sum 5000, 900 were
placed May 8, 1890, through Parker Bros. &
Co.. who failed November 20 following.
1t was reported that the bonds were lost.
but it appears that the money paid for the
$1,000 premium paid, in the Finance Com
pany of Philadelphia. This, with interest
to the amount of $40, 1874 03, has been paid
to the County Treasurer.
Tho Corporation Record.
The United States Corporation Bureau
reports the list of newly-completed incor-
ending February 10. 1892, as follows: Total
corporations, 322; total capitalization, S125,-
323, 800 distributed as follows:
Mercantile and manufacturing COM
Banks mot nationaij and invest
ment companies, e.: .;.........::. 6ss.ooo
National banks ito February 10.
Cold, silver and other mining and '''
smelling companies, 80. ::.......... q, 800
Coal and iron companies. r.. 7,925.000
Light, heat, power and transporta-
tion companies, II. H..........-....... 86 501 900
Building and loan associations, l5. %, ,565' 900
Irrigation companies 6., 66 600
Miscellaneous companies ........... 1226O00O
Better Railroad Earnings.
The gross earnings of ss railways in the
second week of February aggregated 81, $780,
o4e, an increase over last year of s5O9, 373,
or Z. 40 per cent. During the third week of
February 40 roads earned gross 81, 4,722, ,O35,
an increase of 1889, S54, or 7.76 per cent over
last year. The Buffalo, Rochester and
Pittsburg has gain Of over 10 per cent
Traffic continues very large and promises to
hold unusually well through the spring and
summer, but it is noticeable that railroad
managers have been chary about ordering
new equipments and motive power
Business News and Gossip.
The Second U. P. Church, Williamsburg,
will build the coming spring on their lot on
Biddle avenue.
The Wall Street Ne.Ds says: "There will be
another fight to secure the control of the
Union Switch and Signal Company at the
annual meeting in March. Mr. Westing-
house claims to have proxies sufficient to
regain control from the Boston interests"
The Treasury Department. at Washington
has been trying for months to sell the Gus
tom House property on Wall street for not |
less than q, ,00O but up to date has failed
to get bid.
A large transaction in acreage near Boston |
by Wood, Harmon & Co. was noted in this |
column last week. They have since made |
large investments in land at Newark, N. j., |
and Scranton, and are about clos |
ing deal for largo tract near Pittsburg. |
Mr.. Henry Willard states that there is no |
indication of any consolidation between the |
Northern Pacific and the Baltimore and
Ohio roads.
The sale of the Hubley property in Will |
kinsbuTy. has been declared of by the Or |
phans' Court. on the ground of 1nsufficiency
Of consideration.
A corporation called the Petersburg and
Railroad has been organized to
build short railway between those two
Joseph Curry has sold so acres of land in
] Jefferson township to r. X. Pierce for 81, 900.
Eleven permits were issued yesterday for
aggregating $l4,624 The largest was taken
Dnt by Park Bros. & Co., Limited, for a
brick warehouse on Smallman street, Fiji
teenth ward, to cost $6.000
It is estimated but one-third the quantity
Of corn usually marketed from the large |
crops has yet moved, and that there is still
half as much wheat to move forward as all
asst seasons movement.
D. Buchanan. j. L Buchanan, AL. Brinker,
D. II. Chambers. r. w. McKelvy, Thomas
Engle. A. P. McGrew. R. T. Hunt, W.
Boyleston, J. E. Haskill, j. N. Hill, N. +.
sloan, w. J. Lewis and E. H. Arensburg have
'old their stock and retired from the Ex-
change.
Gofd exports continue, 1,03o 900 being en-
jagged yesterday for shipment to Europe.
Movements in Realty.
The property No. 81 Fourth avenue, lot FIX
IS, with a three-story brick building, occu-
,ied by the Delaware Insurance COMPANY
md others, was purchased yesterday by tho
Real Estate Savings Bank for a price ap-
s55oCO. The agent of the prop
,fficial said it had been made. 1t belonged
20 the Rush estate.
Thomas Brown, President of the City De-
3osit Bank. sold to John Wallace the prop
hcCracken, commission and produce mer-
,hant, for a price approximating $40 900.
rne lot fronts 20 feet on Liberty street and ex-
ends back 100 feet. 1t is said that the pur-
chase was for Philadelphia capitalists who
propose to erect a ten-story hotel at the
corner of Sixth and Liberty. Five lots have
been acquired by the syndicate, and it is
'aid to be about ready to begin operation.
Company, at Blair Station, to James W.
Carey, the well-known grocer of Monterey
street, Allegheny, four lots, Nos. 3l4, 3l5, 3l6
Ind 81. for 81, 700. MI. Carey will build four
Black Baird sold to W. H. Simmons, lots
Nos. 31s and 3l9. in the Alta Land Company
plan on Duquesne Heights for $40 each.
w. Valentino nd In |