Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-09
POINTS IN BUSINESS.
The Schmertz Building Leased by an
Evening Cotemporary.
NEW LIGHT ON THE PHELPS. DEAL.
Over Three Hundred Enterprises Started
the Last Week in January.
FEATURES OF MONEY AND SPECULATION

| FEAIUkES CF kONE1 AND SfECUbATlUN
The evening cotemporary referred to IL
this column short time ago in connection
with the purchase of lot and the erection
of 12-story office building on Fourth
avenue, has changed its base of operation
to Fifth avenue, on account of inability tt
secure the Fourth avenue site. 1t ha'
leased for term of years the Schmerti
bnilding, which passed into the hands Of
Mr.. D. P. Reighard on Saturday. The
building will be remodeled, to some extent
and occupied about April l. So the pros
pect of skyscraper in Pittsburg the COM
ing season has, in the language of the late
James Fisk, 'tgone where the woodblne
twineth."
Only an Investment
The sale of the Phelps tract by Ira NJ
Burchfeld to William E. Howley, the rail-
road contractor, gave occasion for consider
able talk yesterday. The main facts in
connection with the deal were given in
THE SUNDAY DISPATCH. 1t should be
stated, however, to remove a misapprehen-
sion, that there was no idea of 3 lawsuit,
nor was there any controversy, legal or
otherwise, in the matter. Mr.. Steele, whose
name appeared in connection with the
transaction, had nothing whatever to do
with it. The statement that the deal was
in some way a link in the projected Squir-
rel Hill Railroad is said to be entirely er-
roneous. Mr. Howley bought the property
simply as an investment.
New Corporation Record.
The United States Corporation Bureau re-
ports the weekly list of new corporations in
the United States for the week ending JAN
uary 90, 1892, as follows: Total corpora
tions, $780, Total capitalization, SOS, 2O2, :
005, distributed as follows:
Mercantile and manufacturing COM
Banks (not nationaD and invest
ment companies, s,S................. 2l5,OOO
1897, ..................... $4,000
smelling companies, 81. i............. 1874, 900
Coal and iron companies, 10 .... 800, 600
Light, heat, power and transporta-
ton companies. s.u. LOO, GOO
Building and loan associations, H.. 15, la, 600
Irrigation companies 3 5047 500
Miscellaneous companies, l2S. IL, 4s0, sos
Ratified Her Husbands Mortgage.
The case of bort versus Nicken, recently
decided by the New York Court of Appeals,
involves the following state of facts. They
husband conveyed to his wife for the con-
sideration of 81 land which was subject to a
mortgage, and afterward, without her
knowledge or consent, procured a loan from
third party for the purpose of discharging
the mortgage, which was about to be fore
closed, agreeing that the wife should give
the third party mortgage on the land to
secure the loan. The mortgage debt was
paid by the husband with the money so lent,
and release was executed by the mortgage
and recorded. The wife paid the fees for
recording and obtained the release from the
third party, who had taken it from the
clerks office after it was recorded. The
Court held that the wife had ratified her
husbands unauthorized promise, and that
equity would compel her to execute mort
gage to the third party for the amount of
his loan.
Business News and Gossip.
Work on the Green field Avenue Railway
was resumed yesterday. With good weather
it will be ready for the cars in a short time
For the fourth week of January railroad
reports are more favorable; they Offset al
most exactly, perhaps q little more, the
losses of the third week. The gain is "A per
cent for 81 roads.
Mr. Henry Willard; President of the Edison
General Electric Company, is quoted as say
ing that the negotiations looking to consoli-
dation with the Thomson-H Houston Company
were progressing rapidly and that there is
every pro ba bility that a conclusion satis-
factory to all interests concerned will be
speedily reached.
Eliza C. Davis has sold to L. H. Willard
two acres of ground near Sewickley for
So 200.
The lead people yesterday declared
quarterly dividend of IA on the new pre-
ferred.
A director of the Whisky Trust says the
annual report of that concern to be made
public at the April meeting will show net
earnings OF about 81, 100000. Over 81, 000, 600
were paid out in dividends.
Six permits for the erection of buildings
were issued yesterday, aggregating in
estimated value SC, S35.
The general sales agents of the anthracite
coal companies took no action at Saturdays
meeting in regard to prices The agents re-
ported the advanced rates as being fairly
well maintained and after arriving at this
conclusion decided to adjourn until Friday
u.
Attachments have been filed against the
Western Farm Mortgage Trust-Company of
Denver and an application for q receiver
has been made.
The following corporations will hold their
annual meetings to-day: Allegheny County
Light Company, Mansfield Coal and Coke
Company, Hidalgo Mining Company, Central
Traction Company, Central Bank, and the
Natatorium Company.
Movements in Realty.
s. A. Dicl1ie & Co. sold through Fiscus
Bros. s. Co., a lot on Penn avenue, corner of
West street, 44xl23 feet for Dr.. W. s. Taylor
to Harry w. Swisshelm, for s., 200.
Black Baird sold to Mrs. Jane Monks a
new stone front dwelling on Thomas street.
Boulevard Place, East End. adjoining the
residence of Dr.. Scott, for S. 600.
W. E. Hamnett & Co. sold lot on Savannah
avenue, Williamsburg. 52xlaO for $3.50 cash.
j. Ii. Coleman 6 Co. sold for Robert E.
Glass to j. C. Dick lot. 20xl10, on Franks
town avenue, on which there is frame
;toreroom and dwelling, for S., 500 cash: also
Ior Henry Lirsch to J. C. Dick lot 2Ox1lO
and building, for S., GOO.
w. A. Heron & Sons sold brick house of |
six rooms No. 81 Locust street, Sixth ward,
FOR S., $50 cash.
Peter Shields sold one of those modern
fve-room frame houses on lot S0x9O feet on |
Lydia street, near Greenfield avenue, |
rwenty-third ward, on the ten-year payment |
plan, for $3.50.
j. Z. Glass sold for Thomas W. McCune to |
Charles S. Crawford, a new Queen Anne |
Iame residence of II rooms, lot 30x95 and |
situate No. 504 OHara street, for $7,OUO