Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-21
National Real Estate Congress Favors
the Australian Plan.
PROOF OF ALIVE REALTY MARKET.
A Good Week in Local Stocks Winds Up
With Higher Prices ALI Round.
OFFICE AND STREET NEWS AND GOSSIP

this country, and in Massachusetts, its
adoption is being seriously considered. By
this system the owner of tract of land can
surrender his deeds to the State, and, upon
the payment of . certain amount for an
official examination of the title, the State
issues him a registered title, guaranteeing
the same ever after they have been once et-
amined, passed upon, and registered under
the act. The land can then be sold with the
same facility as factory or bank stocks, and
future investigation of the title is unneces-
sary. Another argument in favor of this
plan is that it would greatly facilitate the
transfer of property and make it much easier
to borrow money on land.
Lots Not a Drug.
As showing activity in the lot market
Van Gorder & Lloyd's sales in the East
End district alone during the week foot up
$50, 200. Most of the purchasers will COM
mence building as soon as the weather
settles. In the same period, according to a
rough estimate by an extensive operator,
taking in all the districts around the city,
sales of lots aggregated 200 or more Pur-
chasers as a general thing being people of
moderate means, transactions on SO large a
scale lead to to the conclusion that the ac-
tivities of the city are in prosperous con-
dition and that money is we'll distributed.
Not Up to the Mark.
W. G. Stewart received an offer yesterday
which he refused, of $50, 900 cash for the
Kennedy frontage of 800 feet on Forbes
street, near the park It was made by a
New York gentleman who thinks well
enough of Pittsburg realty to buy it as ar
investment. Municipal and private i'm
provements in this quarter are attracting
the attention of outsiders as well as citi-
zens
A Ten Per Cent Investment
The principal event in real estate on the
Nortbside during the week was the sale by
John K. Ewing & Co. for William J.Dunn,
the well-known contractor, to Robert B.
McMasters, of the property No 167 Lacock
street, Fourth ward, q tour-story brick
apartment building. consisting of a store
room 20x10O and six fats of five rooms and
hall each, with all conveniences, lot % feet
front on Lacock street and extending back
100 feet to Penn street, for 200. This
property is leased at an annual rental of
81, 342, being 10 per cent net investment.
Extending Park Entrance.
1t was learned yesterday that one Of the
factors which are promoting investment in
the Squirrel Hill district is the fact that
the Murdock entrance to Schenley Park, to
be known as Bigelow avenue, which is 100
feet wide, is to be extended as far east as
Beechwood avenue, which is old Putnam
street widened to 80 feet, thence running in
a northerly direction one mile to Fifth ave-
nue. passing through the Armstrong, Muir
ray, Bruce and Frew estates. This avenue
extension will meet a long needed want for
a boulevard whereon owners of fine turn
outs can drive without fear of collision with
cable or electric cars This information is
something of secret, but is none the less
reliable on that account
Looking After Acreage.
There has never been better demand for |
East End acreage than at present. The
bulk of 1t comes from people of ample
means who have faith in the continued
growth of the city. Their object in most
eases is subdivision to meet the broadening
demand for building sites. J. II. Coleman
& Co., speaking on this subject yesterday,
said they had several important deals in
this class of property on hand, and likely !
to be closed in short time While there
is considerable acreage in all of the East
End wards except the Twentieth, it espec-
tally abounds in the Eighteenth, Twenty
second, Twenty-third and Twenty-frst. The |
is held back more than any
other ward by inadequate transportation
facilities.
Homes for the People.
The sale of the House property in the |
Squirrel Hill district was the only impor- |
tant transaction in East End realty that |
reached the consummation stage during the |
past week. but deals of moderate magnitude |
were numerous. One of these was the pur-
chase by Mr.. j. c. Dick of 30195 feet on
S12. 900. He intends erecting number of |
brick dwellings on these lots
the coming spring The survey of the
Nimick property, at Williamsburg, sold
short time ago to land company for S67,-
500, was completed. 1t will be plotted and |
put on the market at once. The proposed |
Homewood branch of the Duquesne road
will pass Immediately in front of this prop
srty.
Movements Out Fifth Avenue.
The demand for Fifth avenue property,
noted short time ago, shows no abatement
Baxter, Thompson & Co. yesterday closed |
,he sale of a business stand on this street,
short distance beyond the Court House, at
price close to $16,0O The purchaser will
occupy it with large stock of goods April
|. This is the fourth sale on this avenue
,y this firm within two months They have
.wo more deals under way.
Business News and Gossip.
Enough is shown in this column to con-
vince any reasonable person that the realty
market is active and in a sound condition.
The fine Stewart houses on Murray Hill
avenue, Shadyside, are nearing completion.
They have been constructed on advanced
IDEAS and will bear close inspection.
Opinion on the street yesterday afternoon
was bulhsh on nearly all the local stocks.
The Westinghouse interests were slated by
some OF the most conservative brokers tor
urther advance.
W. W. Hooper has sold to W. B. McGogney
5 acres in jefferson township for Sl2, $50.
Thirty permits were issued last week for
he erection of 80 buildings and
at an estimated cost of $43, $780,
The Reading is about to erect a mammoth
plant to make its own mine explosives. This
5 done in opposition to the Powder Trust.
1t is said that members OF the directory of
he Tennessee Coal and Iron Company will
INSIST upon the declaration of a dividend of
per cent on March i.
On call yesterday Metropolitan National
Bank advanced to lis bid, which is the best
,ffer for it this year.
1t is reported that Erie will begin the pay
nent of semi-annual dividends on April at
he rate of per cent per annum.
1t Is learned from good source that the
Philadelphia Company is in better con-
iition, financially, than at any previous
ime within three years.
Movements in Realty.
Black Baird sold to Mrs Sarah N. Nc.
Iandless a new brick residence in Necley
,lace, with lot 40 feet on Hay street by
lepth of 15e feet to an alley, for $4,000.
Reed B. Coyle & Co. sold for the Bellevue
and Company lot No. 81 in their Sunnysiue
,ian, on the corner of Dawson and Rodgers
venues, 50xl5O feet, to an alley for $1,000.
hac ,al.t tors IL