Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-19
THE DRIFT OF TRADE.
Negotiations on Foot Involving a
Large Office Building.
CRITICISM OF AN EASTERN MAN.
Squirrel Hill Values Two Years Ago and
Those Lately Realized.
FEATURES OF MONEY AND SPECULATION

1t was reported on the street yesterday
that d. H. Hostetter had purchased the
property on the southeast corner OF Fourth
avenue and Grant street on which to erect a
large Office building. On inquiry at the
Office of w. A. Heron & Sons, the agents,
they had no information to give other than
tina. Mr. Hostetter had made an offer for
the place. which was under consideration
by the heirs, who live in Philadelphia. The
result will not be known for several days.
Squirrel Hill Values.
The sale of the Edward House tract of 10
acres in the Twenty-second ward, Squirrel
Hill, at about s, 800 an acre naturally leads
to a comparison of present values in that
quarter and those prevailing two years ago
when the first important sales were made
At that time Senator Finn and two or
three others, one of whom was Philadel-
phia man, went into the market with both
feet, to use common phrase, and quietly
picked up, through the agency of Ira NJ.
Burchfield, nearly 200 acres The highest
price these gentlemen paid was g. 900 an
acre; the lowest 81 500. Outsiders, in dis
cussing these transactions at the time, re-
garded these values little less than exorbi-
tsnt for land so isolated and without any
apparent prospect of improved transporta-
tion. The. park existed only on paper
Events have shown that the purchasers had
a correct conception of the outcome of the
district. II has been transformed from
wilderness into fashionable residence
quarter Values have kept pace with I'M
provements, as shown bv recent sales, but
they have not yet reached an extravagant
altitude. That they will go still higher is
as certain as anything can be. Several large
tracts have been marked up within the last
few days. This advance is based on the
prospect of the introduction Of rapid transit
and water the present year.
How Others See Us.
The representative of New York notion
store was in the city yesterday looking for a
stand in which to establish a branch house.
In short interview he said: 81 have seen
enough to convince me that Pittsburg is
a great place. Your people are hustlers.
But there is one drawback. There is no in
ducement for outsiders to embark in bust
ness owing to the impossibility of securing
suitable rooms. have been looking around
all day without finding anything to suit the
business L wish to start. l think business
is too much concentrated here. 1t should
push out more toward the East End, where
the bulk of the buyers live. 1 would be
glad to get a place on almost any of the
prominent avenues, but there is nothing
there to suit requirements. 1 was over in
Allegheny and found it about as destitute
of business stands as Pittsburg. Your
moneyed men must take steps to remedy
this defect in order to enable the city to re-
alize the most from its opportunities: This
criticism, which is half a ,eulogy, is sub
mitted for the consideration of owners and
capitalists
Business News and Gossip.
The scarcity of business houses is per-
ennial cause for complaint. High rents is
another
Black & Baird yesterday closed a lease
with Lee S. Smith & Sons, for three years, OF
q part of the Irish block, on Sixth street. at
an advance of 33la per cent over the former
rate. ---- 4
1t is reported that L. II. Green, manager of
the Mill Creek distillery of Cincinnati, the
biggist property i'll the trust, will be made
President of the Distillers and Cattle Feed
ers Company.
Punxsutawney and Clayville are to be
brought into closer relations by an electric
railroad. James X. North is President of
company just formed for that purpose.
Bleecker streets, New York, vas sold on
Wednesday under foreclosure proceedings
for S45t, $40.
The Citizens National Bank OF Washing
ton, Pa, will occupy its new building about
March 10
All the banks of the New York Clearing
House and their correspondents in the State
have signed petition to the Legislature
against the bill to reduce the legal rate OF in
terest in that State to per cent.
EDGAR " Hays has sold to Mary J. McIn
tyre 50xlOO feet of ground on Walnut street,
CHARTERS township, for 81, 900.
Se-en permits for ihe erection of buildings
were issued Yesterday, aggregating s9,470
AM info ,ol ffa, Nm
for the Exchange building. This is the mini
mum price fixed by the directors. Some of
the members are opposed to selling, believ-
ing that the oil business will revive
Theannual meeting of the Tuna Oil Com
pany was held yesterday. Reports were IA
vorable. The following officers were elected:
Finley Torrens, President; George W. Coch-
ran, Secretary and Treasurer Directors,
Finley Torrens, G. w. Cochran Joseph |
VogeI, F. {. osburn and Charles H. Scott.
Mr.. ID. z. Reighard, the purchaser of the |
replacing that and three other contiguous |
buildings with business block to cost about |
s4o0, 600. He says negotiations to that end are |
i'll progress.
1t was reported yesterday that the Liberty |
National Bank people had purchased a site |
for a building. The location was not stated |
Movements in Realty.
Baltensperger & Williams sold for A. Kim |
to prominent business man modern frame |
dwelling OF II rooms and all improvements, |
lot l60xl40, on Belonda street, Mt. Washing |
ton. for s6 600.
John X. Ewing & Co. sold for George Por-
tene the property No. 800 Rebecca street,
First ward, Allegheny, being a two-storv
brick house of six rooms, hall and attic, lot /
p x90, for So, COO.
Black 4 Baird sold to John Lawler for |
c. C. King two-story brick house on Pier
street, Oakland, with lot "a by about SO feet t
to an alley, for s, 900.
Baxter, Thompson & Co. sold lot No. 49,
Iuch Place plan, Thirteenth ward, fronting
p feet on kirkpatrick street and extending
Dack 100 feet to a line, for $3.50.
j. H. Coleman & Co. sold for John w.
Moore to Miss Harriet McFarren, of Green's
burg, a frame house on lot 2xIC0, situated /
corner Hay street and Euclid avenue for
Is 800
w. A. Heron & Sons sold property 1922
sycamore street, modern brick house of
eight rooms, for 81 300 small payment down
md the remainder in monthly installments.
The Burrell Improvement Company re-
port the following sale of lots at Kensing-
on: Gustav Lintner, lot 100. block 3 $4SS rs;
James Coda, lot 8, block ], 5000 cash.