Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-08
| STRONG FEATURE
Of the Real Estate Market Is Sub
stantial Development
WHAT THE ARCHITECTS ARE DOING
Speculation Drops OIL. but Values Show No
Signs Of Weakening.
OFFICE AND STREET NEWS AND GOSSIP

70. nave ClOscu Iuc pIC1mAudflcS AOi WIG
purchase of several hundred acres of unim-
proved land is of value, as showing that the
suburban districts are filing up SO fast
that additional subdivisions are necessary
to keep up supply of lots. The outskirts
are being compactly built up. New plans
in many cases are combinations of former
ones They are not widely separated and
at unreasonable distances from the business
center, as in Chicago and some other cities
Rapid transit has or soon will penetrate
every nook and corner, annihilating dis
tance, and making residence almost any
where convenient and comfortable. This is
substantial development, and while 1t con-
tinues there need be no fear on the part Of
either owners or buyers of surfeiting the
market. 1t will take years to overseu or
oyerbuild Pittsburg.
What Architects Are Doing.
Pittsburg architects, while not rushed
with work, are comfortably busy. Several
of them called on yesterday reported con-
siderable business on hand, consisting mostly
of plans for rural homes, of which large
number are under way or in contemplation.
Mr.. Edward Stotz said, while business
was scarcely up to expectations, 1t was bet
ter than year ago, with very encourag-
ing outlook. In his opinion labor trouble
is the only thing that will prevent large
amount Of building this year, and he has
making plans for several high-class resi-
dences Mr.. Steen and Mr.. Brickle have
number of business houses on hand, among
which may be mentioned those of Keech,
Wade, Ewart, Bennett and Vandergrift. It
is worthy Of remark that Pittsburg architects
are covering more territory than USUAL
Their services are in demand in sl the i'm
portant towns in Western Pennsylvania,
Eastern Ohio and West Virginia.
The Corporation Record.
The United States Corporation Bureau re-
ports the list of newly completed incorpo-
ratons in the United States for the week
ending February 26, 1892, as follows: Total
corporations, 356. Total capitalization,
$109 $50, 703, distributed as follows:
Mercantile and manufacturing
Banks mot nationail and invest
ment companies, 3........ go. 65,OOS
Gold, silver and other mining and
smelling companies, 80. H342,50O
Coal and iron companies, 49, ....... 100000
Light. heat, power and transporta-
tion companies, 20............... 5,79l 900
Building and loan associations, l8.. 80, 105. .0G0
Irrigation companies, 4 355 900
Miscellaneous companies, 139. 49,. 1886, 800
A Largo Timber Deal.
The Crosby Lumber Company Of East
Tennessee, has purchased AZ 900 acres of
timber land in Graham county, North
Carolina. The purchase includes the entire
lumber and timber holdings and interests Of
the Bedding Lumber Company, in Eastern
Tennessee and Graham county, North
Carolina. This company was organized by
Mr.. J. s. Crosby, a big lumber dealer Of
Michigan. The price paid is isreported to be
5000. 200. The timber on this land reaches
the enormous amount of 500, ,000, 900 feet.
It will be prepared for the market at Lenoir
City The mills will be among the largest,
if not the largest, in the South, and among
the largest in the country. Their capacity
will be from 10000, 900 to $4,000, 900 feet
annually of lumber, or say 100000 feet q
day. The company, in order to carry on this
vast business, will employ from 500 to 800
men. Mr.. Crosby is we'll known to the
lumber trade OF Pittsburg.
Business News and Gossip.
The week opened auspiciously so far as the
weather was concerned. Business started
OF at good gait.
After the afternoon stock call yesterday,
Fred Rinehart bought 120 shares Pipeage
at 10.
George Cadwallader has the foundation al
most completed for a good business house
on Second avenue, Hazelwood. Oliver Ter
race plan.
The Stephenson property, on Penn ave-
nue., Williamsburg, Is on the market. 1t is
well situated tor business.
Daniel Stratton has sold to James Neel l02
xll6 feet on Railroad street, McKeesport, for
The Houtzdale Pa, Coal Mining Company,
Just organized, has capital of $l00, 600.
Earnings Of the Pittsburg and Western
Railroad for February were $3.50, 497, an In
crease over the like month in 1891 of S46 3l0
The great bridge over the Mississippi at
Memphis will be opened for traffic about
May l.
The Executive Council of the American
Bankers Association has decided to hold
the annual convention in San Francisco on
September and 8.
At the last call yesterday los was bid for
United States Glass preferred, and 26]< for
Electric, new.
The last Important outstanding block Of
Exchange stock was picked up BY Whitney
L Stephenson. Thew purchased II shares
from Kuhn Bros. at $500 each.
The annual meeting of stockholders of the
Allegheny Suspension Bridge was held yes
and clerk. 1t is expected the bridge will be
ready for business by January, 1898.
stockholders of the Ohio Valley Gas Com
Iectors: W. L. standish, Joseph W. Craig,
George H. Christy, F. N. Love, r. j. Murray,
John B. Reno, Charles I. Harbaugh, G. F.
Nevin and A. W. Mellon.
Application for charter for the First Ma
tional Bank OF DuQuesne will be made at
once. the capital stock Of $4,000 having oil
Four permits were issued yesterday for
fine improvements, aggregatins s., 40o
Movements In Realty.
Charles Somers sold the commission busi-
ness of william Boehmer & Co., 625 Liberty
avenue, including leasehold, fixtures and
entire equipment to Thomas H. MCGOWAN,
commission merchant, of 607 Liberty avenue,
for 5000.
Peter Shields sold another of those modern
eight-room houses, lot S6x90 feet, located on
Greenfield avenue, in tho Twenty-third
ward, to FrankL Keeland, for s. 800; also
sold for the schenley Park Land Company,
lot 25xl00 feet, to 20-foot alley, located on
Lydia street in the above plan, for slO0
Reed B. Coyle & Co. sold q brick dwelling
of eight rooms and all modern conveniences,
yith lot ss1 100 ieet. on Shetland avenue,
Black & Baird sold to E. NJ. Moore lot NO.
"a in Boulevard Place, East End, fronting 81
on MCPHERSON street oy l4o In depth, for
w. A. Heron & Sons sold the lot adjoining
the one reported sold lately on Erin street,
Eleventh ward, e2xll5 feet back to Trent
mence q new building after April l.
The Burrell Improvement Company re-
port the sale of the following lots at Kensing-
ton: David n. Bouser. lot. s. h. 70. block .,
e3s5; Peter Hoen, house and lot Isl, block 6,
g. 900; Ruben j. Davis, lot 81, block L. s552 80;
Mrs. Sarah Dunn, lot So, block 6, $935; Blasius
spiber. lot. $. h. q. block g. sa75; Samuel J.
Phillips, house and lot l7S, block 1, 81, $50.
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