Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-12
A NEW ENTERPRISE.
Property Purchased for a Branch of
a Big Eastern Concern.
A VALUABLE INDUSTRY COMING.
Many of the Building schemes for This
Year Out of the Paper Stage.
FEATURES OF MONEY AND SPECULATION

George L. Mcfarland, formerly superin
tendent of the Duquesne Traction road, ant
E s. Mercur. representing the New York
| Car Wheel Works, of Buffalo, who are
starting branch of that establishment in
this city, have purchased the bolt and nut
works property between Forty-sixth and
Forty-seyenth streets, Eighteenth ward, al
figure close to $4,000 They Will remodel
and improve the buildings to suit their busi-
ness. 1t is their purpose to supply car
wheels, axles, etc, to street railways
throughout the territory of which Pittsburg
is the center and distributing point
Building Schemes Materializing.
Mr.. Carl Maeder, the well-known mu-
sician, is putting the finishing touches to
two nice dwellings on Alliquippa street,
Eureka place. As soon as they are ready
for occupancy he will begin the erection of
four or five more in the same locality.
Mr.. George Schmidt, the real estate oper-
on Center avenue, west of Aiken, upon which
he will commence the erection of a hand
some brick residence. 1t will be one of the
finest in that neighborhood. Mr.. Schmidt
will, the coming spring, put up 20 or 30
more houses in Eureka place, Fourteenth
ward, Oakland. One of these buildings will
be for business purposes, the increase of
population in that quarter making this a
necessity to accommodate the people.
Alfred Lenning has purchased about an
acre at Copeland, Braddock suburb, and is
considering plans for number of medium
sized dwellings Ten years ago Copeland
was a brickyard. To-day it contains about
1000 inhabitants
Henry Smith, who few months ago sold
20 feet of ground on Penn avenue, Law
renceville, to the st. Johns r. c. congre-
cation as a site for church, has bought for
about $1,000 lot on the same avenue, near
Twenty-eighth street. upon which he has
started three handsome dwellings.
Values in New York.
In New York the other day property
Nos. % and "a West Third street which was
sold for S135, 900 at private sale in 1890 was
offered at auction on the Real Estate Ex-
change. The opening bid was 500, 900 and
by subsequent bids the price was run only
to S132 900 and bid in. Three, four and
fve-story buildings stand on the lot, which
is at the southeast corner of West Third
and Greene streets. Property is cheaper at
Avenue A and Seventy-frst street, a two
story frame house and four lots selling at
auction for S24, 400. No. 3O4 West Thirty
third street, three-story stone front
dwelling: was sold for S164, So
Business News and Gossip.
1t is well enough to remark again that
business is better than at the same time
last year. The financial position of the
country was never stronger.
Nos. II ard 70 Sixth avenue have been
leased by Black & Baird to Mrs. E. NJ. Gard
ner at an annual rental of s., CSC.
4 ic A.aI %tof f1<,
consolidation with the Thomson-Houston
Electric Company the latter's stock will be
offered on the basis of $50 per share on par
value OF SIS share.
1t requires great deal more space in the
papers to convey an adequate idea of busi-
ness movements in Pittsburg than it did
decade ago. The enlargement of the Pindn-
cidL Ne,cs and Price Current was in obedience
to this necessity. The paper presents a
handsome appearance and is well edited
Movements in surrounding towns: An
electric company has been formed at
Apollo Pa, with a capital OF $4,000 An in
surance comDany will erect fine office
building in Reading. Canton, O., contem-
plates building workhouse this wear.
The net earnings OF the Distillers and Cat
tie Feeders Trust for the month of January
were over 100000.
sewickley National Bank people will not
build until they have surplus to justify
the expense off suitable structure.
The capital stock of the Illinois Steel
Company has been increased.
Wall street WAS lively yesterday, with
Reading as the feature. Transactions were
OF great magnitude.
Four permits for the erection of buildings
were taken out yesterday, the cost of all
being estimated at So, l50. The largest was
for 81, ,450.
Movements in Realty.
NJ. Startling & Co. sold for Messrs. Zahn &
Glass to David Weed lot 80, in Belmont
Place plan, Ingram station, having a 'front.'
age of so feet on Linden avenue and running
back 162 feet, with two-story and attic
frame dwelling, for S., 900 cash.
Hoffman & Baldridge sold a lot on Maple
street, Edgewood, Pennsylvania Railroad,
l0Ox4G0 feet, for 81 900 cash.
Black & Baird sold to Peter Larsch lots
Nos. and in John Herchenroether's plan
of Spring Garden borough, having together
n frontage of 5613 feet on Spring Garden ave-
nue by depth of 80 feet to Gebbart street,
for 81. 300 cash. They report the sale of ten
lots in this plan within the past three weeks
j. E. Glass sold for Thomas w. McCune to
Charles S. Crawford a new Queen Anne |
frame residence of u rooms, lot BOXES, No. 5O4 |
O'Hara street, for 81, 001.
w. A. Heron & Sons sold on Aiken av- |
enue Shadyside. lot 0x160 feet with frame |
house OF eight rooms. for $40 000 purchaser |
70 occupy same as residence after April l. |