Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-08
GOOD LUCK AT BLAIR.
The T. Campbell Company's Gas
Strike Opens New Territory.
OUTSIDE BUSINESS SHUT OUT.
No Material Change in Rents for DWELL
ings Expected This Year.
FEATURES OF MONEY AND SPECULATION

FEATURES OF MONEY AND SPECULATION
The gas well struck on Wednesday at
Blair station by the T. Campbell Glass Com
pany is regular roarer. 1t can be heard
for half mile. Gas was struck at depth
of ], 200 feet, and is regarded as the lively
vaporings of large pool further down in
the regular gas stratum. The well will con-
sequently be drilled deeper. This is the
only gas well in that vicinity, and derives
special importance from the fact that it
promises to open up an extensive gas field
to supply fuel for the industries located
thereabouts by the Blair Land Company.
A number of capitalists are awaiting the
outcome of this strike with great interest.
Business Heavily Handicapped.
The publication in this column yesterday
of u report, apparently reliable, that certain
Eastern business men, unable to secure
suitable quarters in this city would lease
ground on long time and build to suit them
selves caused considerable talk among
owners and agents of downtown properly.
One of the latter said:
''This is an important matter. Owners
talk about and rejoice over Pittsburg's
along. The business area is large enough,
if it could be fully utilized. But there
are SO many worthless buildings
occupying commanding sites and locations,
fit for scarcely anything, that there is pos
tive famine in this line. These blaces are
occupied for the most part by small traders,
doing business of few thousands year.
If they were replaced by modern stores
large interests would take the place of small
ones, which would do as well on side streets,
and the volume of trade be greatly in
creased. The pressure for business space is
greater at this time than ever before. Al
most every real estate agent has applica-
tions from outsiders for stores and ware
house,. Inability to meet this demand is a
serious obstacle to the welfare of the city.
No other city with which 1 am acquainted
is thus handicapped"
The fact that outside capital and enter
prise are seeking entrance denotes faith In
the stability of Pittsburg's activities, and
should be ar incentive to owners to make
reasonable exertion to accommodate all who
desire to come in and contribute by their
means and skill to the general prosperity.
Comfort for Tenants.
Several of the leading real estate brokers
spoken to yesterday advanced the belief
that rents for small and medium-sized
dwellings will not be increased much, if
any, this year. The supply of such houses
is limited, but as they are occupied by
class whose ability to pay more is ques-
tionable, it is thought that owners will be
content with present rates.
Some particular districts may be affected,
but from all that car be learned tenants
may rest assured that there will be no gem
eral advance.
Business News and Gossip.
1t was reported yesterday that an offer of
S., 500 a foot had been made for property on
Fourth avenue, presumably between Wood
and Smithfieid streets. Nothing more could
be learned.
When outsiders have to erect their own
business stands it is high time owners
be up and doing.
1t is thought the Gusky subdivision on
PerrysviIle avenue will be sold out and built
up this year. There is no finer residence To-
ca tion on the avenue.
The railroads are earning big money and
putting a large portion of 1t into constrnc-
tion work and Improvements. Shareholders
have solid grounds for expecting large re-
turns this year.
Property on Bailey avenue, ,Thirtieth ward.
Mt. Washington. is held at about $40 foot
nearly on a level with Oakland prices
The National Cordage Company will to-day
declare its usual quarterly dividends of :
the common.
The statement of the earnings of New
York Central is almost a new revelation of
the capacity of railroads to earn monev,
namely, $40, 600 900 for the year, against $S3-
600 000 two years ago.
Louis Walzer has sold business property
on Main street, Sharpsburg, lot 20H90 to
George Hahn, for 5000.
At the last call yesterday Birmingham
bonds were wanted at $50. The stock was
offered at 1slS
New York was strong and active yester-
day. Distillers and Cattle Feeders Trust
advanced per cent.
The annual meeting of the stockholders of
the Pittsburg Plate Glass Company will be
held at Creighton Tuesday, January 26 at IL
A. NJ.
Three building permits were issued yes
terday for the same number of small i'm
provements, the aggregate cost being s., $50.
The American Iron Building and Loan
Association, ofPi,tsburg, capital stock $780,,
coo, was chartered yesterday.
Movements in Realty.
A. j. Pentecost sold two more houses and
lots in his Valleyview plan, CHARTERS Rail.
way. He reports good call for property in
that locality.
Baxter. Thompson & Co. sold two lots in
Ruch Place plan, both Of which will be i'm
proved in the spring.
Black & Baird sold to Julia Rehmann lots
Nos. 3A 3I5 and BIG, in the Alta Land Com
cash.
d. Dennison sold lot 57xl09. on Margaretta
street. Nineteenth ward, for Joseph f. Sultz-
ner to Edwin NJ. Hill. for S., $50 cash; also
placed a mortgage on East End properly for
S, 900, and one on Williamsburg for S., 800