Today's Pgh Post Gazzette

[Edward H. Lybarger]

This was the 1950 reorganization of PRCo where the underlying companies were
all eliminated.  And yes, the amount sounds right.  What the reporter
neglected to read and include in today's synopsis were a few of the
liabilities that went along with the deal...like the payments on PCC cars,
for example!

-----Original Message-----
From: owner-pittsburgh-railways at dementia.org
[mailto:owner-pittsburgh-railways at dementia.org]On Behalf Of mrb190
Sent: Thursday, July 06, 2000 2:09 PM
To: pittsburgh-railways at dementia.org
Subject: Today's Pgh Post Gazzette


Today's Pittsburgh Post Gazzette offers the following in the ALMANAC
section:

"On this date, fifty years ago, Thursday, July 6, 2000...
Duquesne Gardens in Oakland and 57 other Pittsburgh Railways Co. properties
were
sold at federal auction for $800,000.   The buyer was Trinity Devlopment
Co., a
group of six Pittsburgh real estate investors."

I know that was FIFTY years ago, but that sure does seem like peanuts for
Duquesne
Gardens AND 57 other properties.   Wonder what the other properties were?
I'll
have to get back to the microfilm room at the library and do some research.
Haven't been there since the winter.

Also am wondering why the properties went up for "federal auction?"  Were
they
seized by the feds?   Did Pgh Railways want the feds to sell their
properties?
Hopefully, the answers to these and other questions will be in the full
article,
7/6/50, Post Gazette.

Matt