The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1877-12-24
CHEAP HOMES FOR WORK.
INGMEN.

No one who travels up ana down the
streets Of Seattle can fail to note the
steady growth and advancement OF the
city. The establishment and compile.
ton of the Front street grade, one year
ago, made Belltown easy Of access and
afforded cheap sites for residences OF
those whose limited means prevented
the purchase of lots within the city
limits. We now notice building
movement in the southern end of town,
stimulated by the progress of the Seat
tie and Walla Walls railroad. Tidy
little cottages are going up all the time
and lots are being cleared for the
erection of few more Of the same sort.
At the same time it is not more than
one man in five who has the means to
buy lot and erect house thereon,
paying for the same at its completion.
Neither are the builders able to build
houses and take mechanics liens on
them, and wait year or two for their
money. To aid in the growth Of Seat
tie. therefore, building association
should lie composed of mcu who have
the money to spare at fair rates of in.
terest.
Several years ago, q man in San
Francisco. named WIN. Hollis. conceived
the idea of such an organization aud
found few men of means to aid him,
though there was really not rich man
in the concern. Al the same time il
was perfectly responsible company,
for it kept Within its means and
worked no faster than its capital per-
mitted. 1t was called THE Real Es.
tate Associates Of San Francisco" and
its chief field of operations was in the
western end of the city. While the
visionary Ralston was erecting bis col
lossal pile on Market street and squan-
dering his depositors' money in watch
and carriage factories, the more practi-
cal Hollis was making money for his
handful Of small capitalists by the
erection Of houses for clerks and me.
chanics. The houses built by his COM
psny were neat and convenient, but not
costly. Within the last six years this
association has built nearly six humid
red residences. about one-third of
which have not been sold, but bring in
such liberal rents that the company.
(which 9oeenot owe dollar can we'll
aeord q kesp them.
"a peG1ot the organization of q
lnilae soG)eg here. headed by some
peeeo entAer Of the stamp Of Hollis,
who has made fortune without wrong
ing any man out of.A dollAr-sud that
is more than many men in San Fran.
cisco can say. There are localities
about Seattle where good lotS can
bc purchased for $50 each, and con.
venient houses could be erected upon
them for $1,000, making q total of
$1,000 in all. If a company could be-
formed with capital of 100000. half
paid up within ths first year, it could
build eighty-thrce substantial dwell
lings, which could DO rented at $lS Der
month, II not sold as fast as completed.
The terms should b twenty per cent.
down on signing the conveyance and
twenty per cent in annual iustallments.
thus enabling the occupant to pay for
his house in i've years. with interest not
to exceed fifteen per cent. per snuum.
In this way our city could b greatly
adorned and improved, and the condi-
ton Of the laboring classes greatly
ameliorated. We give the suggestion for
what It 10 worth and commend ito con.
sideration to those who are satisfied
With fair returns for legitimate invest
ments Of capital.