Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-04-29
CITY REAL ESTATE.
A Good Time to Dispose Of Unpro-
ductive Central Property.
SALE OF A NORTHSIDE RESIDENCE.
Five Acres on Squirrel Hill Change Hands
Twice Within q Week.
HEBRON HILL DISTRICT BUILDING UP

satisfactory evidence that the market
strong. Foreclosures are few and far b
tween. High rents in the downtown di
tricts are encouraging location in tt
suburbs This stimulates demand for acl
property suitable for residence purpose
and enlarges the scope of building oper'
tions. There is little of speculative nj
ture going on. Vacant property is bein
bought for immediate Improvement by pei
pie who have decided to become proprietor
instead of renters This is a feature of th
market that cannot be presented in to
strong light 1t denotes strong cond
tions.
| -Four Good-Sizcd Deals.
It was reported yesterday evening tina
115 feet on Penn avenue by 1000 on Dalla
avenue had been sold to A. II. Wilson, Q
the East End Hotel, for $53, 900. 1t is un
derstood the deal was conducted by W. A
Heron & Sons Black q Baird yesterda,
sold residence property in Allegheny
presumably on Ridge avenue, for $50, 900
The late owner will remove to the Eas
End. Five acres on Shady lane, Squire
Hill district, changed ownership about
week ago at s., 900 an acre. Yesterday j
was resold to Diamond street bushes
man at fair advance The Carnegie Com
pany completed negotiations yesterda.
evening for about 10 acres at Duquesne
The price was not stated.
Unproductive Central Property.
This is good time to bring unproductiv,
real estate into the market. Money i
abundant, and great deal of it is seekini
investment Nearly all the downtown
streets are disfgured by dilapidated build
ings which bring little or nothing to the
| owners, and never will; they have reached
the limit of their productive capacity. NJ
one wants to rent them, except as fna
recourse. Many owners say they cannot
afford to improve, but refuse to sell for the
reason that they expect better prices somt
time in the future. A bird in the hand j!
certain. The unexpected often happens
This property would sell readily at good
prices if put on the market, handsome stores
would multiply, and the business area be
materially enlarged. While owners of CEN
tral property that presents barrier to i'm
| provement cannot be compelled to sell they
| should not overlook the fact that with the
money obtained for their holdings they
could buy or build in some other quarter,
to their own advantage as well as to that of
the community.
Building Up Heron EiIl.
Biggs Bros, the Smithfeld street jewel.
ers are finishing the last Of about dozen
handsome modern dwellings on Bedford
avenue, in the Heron Hill district, and are
contemplating the erection during the sum.
mer of as many more on Madison avenue in
the same locality. Every house so far ir-
ished has been sold. It Is reported that a
Wood street merchant is having plans
drawn for block of ten middle-class houses
further out the avenue first mentioned.
These and other improvements under way
disprove the claim occasionally made that
Heron Hill is u backward quarter.
Yesterday's Building Permits.
Ten permits were issued Yesterday for IL
Improvements, aggregating S17,500 Those
of most value are: A. E Clark, brick
dwelling on Stanton avenue, Nineteenth
ward, $1,000; Mrs Rosanna Murphy, two
brick dwellings (connected) on zeech street,
frame dwelling on Courier and Ingalls,
alleys, Twentieth ward, $1,000; George C.
McMurray, frame addition to dwelling on
Woodville avenue, Thirty-ffth ward, ST.
800; Charles Donnelly, brick addition to
dwelling on Fifth avenue, Twenty first
ward, 81, 900; John Connolly, frame dwell
ing on Euclid avenue, Nineteenth ward,
1000.
Special Features of Trade.
Business IS steadily recovering lost
ground. Grumblers are scarce.
The Hubley mansion, on Penn avenue,
Williamsburg, is being remodeled and mod
ernized throughout.
Earnings of the Buffalo. Rochester and
Pittsburg Railroad for the third week of
April increased s2,ll6 Northern Pacific's
,i,,ca fo,.f ~ 1,,te
decrease of $l2 699.
D. S. Elliott paid J. W. Johnston s6, 600 for
three acres in North. Versailles township.
The improvements nre valuable. John e.
Martin has purchased a tract of land in Bald
win township for $1,000.
Toledo is agitatinr the question OF organ
izing real estate board. Pittsburg seems
to have no use for sucn an institution.
Mr. Callahan has sold his residence prop-
erty on Holland street, Williamsburg, Tor
Monday the directors of the Pennsylvania
Railroad will declare a dividend OF per
cent.
The Governing Committee of the New York
Stock Exchange has listed the following Sc
curlties: Westinghouse Electric and Man.
ufacturing Company, 49, 7l2 22s first preferred
per cent cumulative stock and $685. liz az.
senting stock; West Virginia and Pittsburg
per cent gold bonds.
Among the deeds recorded yesterday was
that Tor the S!atapcr property, purchased by
Robert Sproul for $4l 800.
Preferred stock of the Plttsburg and West
ern Railroad sold recently in New York
at 20.
Additional Points in Realty
Speaking of rural property yesterday a
prominent investor said: That it will In
crease in value with the growth of the city
and the development of rapid transit, there
can be no doubt This has been the case in
the past and will be in the future"
property on Mariepoe avenue, Twentieth
ward, consisting OF a frame residence of ten
rooms and all modern improvements, with
lot 50Nl20 Ieet, for $ll 900.
Holmes & Co. sold two lots in the Grove
plan to George Whitesell, Nos. 81 and s5 tor
$500: also two lots in the same plan, 81 and 80,
to w. L. Wilson for the same price; also six
lots, same plan, Nos IS to 63 inclusive, to
William Decker, for $500 each.
Holman Badridge sold a new frame
house of eight rooms, with all modern fix
lures, with lot 25xl20 feet, on Holland street,
Wilkin sburg, for s., ,S00 also u lot on Whitney
street, 351ll5. for 81 200 cash; also lots Nos Is
l2O each, for Henry II. Neyley, for 81 800; also
lots Nos. 230 and 23I in Swissvale Place Plan,
Swissvale, for 500.
John X. Ewing & Co. sold to William j.
Simpson u lot 40xls6 feet, on PerrsyvilIe
avenue in the May field subdivision, Tenth
ward, Allegheny, for ST. 800.
w. =. Hamnett Co. sold a lot 40x120 in
the Miller Plan, Swissvale, for $500
j. II. Coleman & Co. sold for james C. Dick
four lots in The Enterprise Plan, Twenty
first ward, for &, 800.
E. I. Schaffner sold for John Mooney to
Illhardt frume house OF tYo
rooms and attic, corner Second street and
Hnty ard na1t 1t.I, g.,