Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-06-05
TRADE OF THE WEEK.
Surface Indications of the Real
Estate Market in Pittsburg.
THE SUPPLY, DEMAND AND VALUES
Incidents and Gossip of the Week in Local
Speculative Circles
SOME SPECIAL FEATURES OF TRADE

SOME SPECIAL FEATURES OF TRADE
The business situation underwent little
change last week, but such as took place
was for the better. Locally, there was a
satisfactory NOV ement in all lines OF ac.iv-
ity except iron. Bank clearings held up to
the high level of the year, rejecting q
healthy and vigorous condition of affairs,
real estate was satisfactory and building
was active. Stocks were slack, and with a
few exceptions, due to manipulators in one
instance, to the approach of dividend in
another, and to the enhancement of assets
resulting from the death of a creditor in
another, without material change in prices.
There was no special excitement of any
kind in any department of local trade.
With business by no means bad, better
indeed than in any former year with the e1-
ception of 1890, and with monetary condi-
tions favoring widening of industrial
activity, there seems to be good reason for
entertaining hopeful views of the future.
There is certainly no ground for discourage
ment
FEATURES Of Real Estate.
A presentation of the salient features Of
the real eestate market at the beginning of
the summer campaign will perhaps be of
interest to the large class of sellers and
buyers. First of sll it should be no ted, as
affording an explanation of the frmness of
owners. that local capitalists are beginning
to realize the possibilities of Pittsburg
realty, and are picking it up whenever
opportunity offers. These purchases are
not confined to central business property,
but include suburban holdings, acreage and
building sites, where enhancement is as
certain as anything can be. These opera
ticns indicate in a general way the pending
investment movement, and show that capi-
talisiic buyers have confidence in the
future of the city.
There is a good demand for downtown
property, but owing to the exalted ideas of
owners sales are few and far between. The
idea largely prevails that no investment is
as good as the property itself. 1t is we'll
known fact that there is practically no ac-
commodation in point of terms between
sellers and buyers. Instances are rare in
which the latter are not compelled to make
all the concessions. There has never been
time when there was more money ready
tor investment in central property than at
present, but operations are greatly ham,
pered by what investors consider extrava-
CANT prices.
Big and Little Lots
There is a good and improving market for
choice residence property, but as there is
large visible supply stretching all around
the city, prices as rule are kept within
moderate bounds. Now and then q fancy
figure is paid by man who decides upon
particular spot for home and is willing to
nav roupd1y for II Ayon if I'D bx,
quite as desirable ground at far less price.
This whim of humanity accounts for the
big figures recently realized in the East
End district. It is the fashionable resi-
dence quarter, and value is therefore of Sec
ondary consideration to those able to buy
or build there. But even East End prices
are moderate in comparison with those in
oth-r cities of far less Importance than
Pittsburg. While they are high enough to
restrain speculation, they do not shut out
people in moderate circumstances. Even
the best avenues are not filled up with
millionaires. and no one has been known to
dinner bucket.
The trade IN single lots keeps pace with
the industrial progress of the city. The
tone of this branch of the market is essen
TALLY healthy. The price of small lots is
little subject to variation, and inasmuch as
they are sold almost without exception to
homeseekers, and on easy terms. 1t is not
likely there will be any falling of in actlv-
ity during the summer. The idea enter
tanned in some quarters that the era in
cheap lots is gone never to return is ialla-
cious They are offered as low as $25.
Special F aturcs OF Trade.
The final meeting of the Board of Viewers
on the opening of Irwin avenue from Forbes
~
at 10 o'clock.
for SO improvements, at an estimated cost
of $lSi, ,6S5. This ialls behind the previous
week in all the items.
1t is understood that william Bakewell,
Esq, who recently sold his property at
Arnold station, is in the market lor q fine
place in the East End.
At n meeting of the stockholders of the
new First National Bank of CHARTERS the
following Board of Directors was elected:
A. II. Heisey, George T. Hosack, Frank
Bre itholle, William NJ. Galbraith, John
hsnry GserSs Fanaoe Wisoe G. huseT rhhomp
met last evening and elected William Pick
ersgill, Jr, Pre:ident; Herbert A. Johns,
The board has purchased q lot AID will
erect a bank building in the near future, but
will commence business in the O'Keeie
DricE DlOck ABOUT Cue lotn o. Cne present
month.
The city authorities were busy last week
distributing water pipe out Forbes street
and through the Squirrel Hill district. This
me ans that this section will soon have filed
q long-needed want.
TIE Duquesne Traction people are re-
uuired to L move their tracks from Craig
and Bayard streets by Monday. 1t is under
stood that they will be put down on Neville
street, wnich, by the way, is badly needing
new pavement.
The Schenley Park Land Company,
through The agency or Peter Shields, has suld
100 lots in the Greenfield avenue district
since January ], and has IS houses under
construction, and will have leo finished be-
fore fall.
The Greenfield avenue electric line carried
nearly 1000 people to Schenley Park on
Decor alton Day.
MIR. James e. Ewing, of the firm of John x.
Ewing Co., has received his commission as
q Notary Public.
The Equitable Life Insurance Company,
W hich held the largest policy on the lie OF
the late Robert Anderson, paid to the Mer-
chants and Manufacturers National Bank
yesterday $50,V0O being the full amount OF
the claim.
Among Office transactions yesterday was
the sale OF $50 shares Monunganela Water
Company stock "at the Market" which
mea MS about 20.
additional Points in Really.
A. z. Byers & Co. closed the sale and de-
lfvered the deed from Charles S. Frisbee to
w. J. Mckee for the property No. IS Taylor
avenue, Second ward, Allegheny City, being
u