The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-07-24

1ACSluFU W WIN us bueI tulhA Nc NOult
make q good Senator, and that il what il
needed In West Virginia.
The Plan OF selling Houses by
Baltimars Sun. Co.
The necessity Of finding some mode oil
supplying cheaper houses TO clerks and
Workingmsn 10 New York has led to s
novel suggestion. It Is proposed BY the
writer that enterprising persons with
money shall build houses Of the class
most needed and sell them on monthly
payments that shall not be In excess Of q
fair rental for the size and style Of the
building-these monthly payments secur'
ing to the renter, in ten years, a free and
clear fee, simple title to the property,
Going into details, the writer states that
on the outskirts Of Brooklyn or Jersey
City desirable lots, convenient TO street
railways, can now be bought for 500
His proposition Is that capitalist buy
City such lots Of % feet front, split the
lots in two and put on them fifty houses
l2i feet front and % feet deep, esch con.
tanning four rooms, and offer them for
sale at six dollars 4 month for ten
years. Each house would be built
Of wood. The houses would be Of
tWo-stories, with substantiah frames,
sheathed with hemloek boards and cover
ed with six inch Michigan siding, the roof
timed, the interior walls hard finished,
and good cellar underneath. Il L. esti.
mated that such house in blocks oil
eight, and having front porches and We
neiian blinds, could be built, and we'll
built, for $40 each. As the regular
width OF n lot is 25 feet, two houses would
staud on u lot, which would reduce the
price OF each lot 10 800, and make the
total cost Of house and lot $40. These
houses could be sold by the builder, after
adding ten per cent for his profit for
S4Si, or, including an annual'interest Of
seven per cent, they could be sold 10 3
tenant for for So paid monthly, with 4
free title at the end Of len yesrs. The
ordinary rental OF houses with similar
accommodations in the vicinity 0! New
York is said 10 be $40 per month, whereas
BY the plan above described the pnr-
chasing tenant, by simply paying his
stipulated monthly rent Of So, would
have, 10 ten years, clear title to the
house he was occupying in the mean.
while. Now as 10 the capitalist. iHis sc.
count, we are told, would stand thus :
"He will have received ten per cent upon
his investment, this being included In the
Sc per month. lie will also have receiv.
ed Two per cent profit on the house and
lots sold. And US he has covered with
the fifty houses only one-half Of his lot-,
he will have whatever enhanced value the
remaining twenty. full lots have &C:
quired. A low estimAle Of this will,
probab ,-bs. one hundred per cent, or
say s5,000-lhat il, be would have re.
ceiyed his seven per cent interest and In
addition 2s3 per cent upon the total 81, !.
900 invested" The proposition 10 build
and sell, onia monthly rental, houses CT 4
better kind rests on the same principle.
Ia this case tits assumed that the class
Of persons who are now paying from 5000
10 $500 year rent in the city would be
glad TO buy houses on the terms named
somewhere out Of town, and on line Of
railway within an hours ride OF New
York and near 4 railway station. Land
we'll situated for building purposes with
10 that distance Of the city can be bought,
II ia said, for 500 an acre. The propo-
sition IL that the capitalist shall boy 800
acres and divide them into lots OF quar.
ter acre each; lay out the land In graded
avenues, and build such houses as the
tenat purchasers may require, including
as many. lots as may be agreed upon, the
price 10 be regulated by the same condi-
iions "a those governing the sale OF the
smaller houses already mentioned.
As an illustration, specifications for a
house built on = quarter acre lot are
given. This house, 10 by 2s feet, two
and q half stories high, and with a one.
story extension Of IS by 16 feeet, well
finished throughout, supplied with gas and
water, and having roomy yeranda across
the front and two bay windows at the
sides, can be built including the land and
len per cent profit, for sl,S75. A rental
Of sic per month for ten years will pay
for the house and land, and atthe end Of
that time the tenant purchaser will have
aconired Il In Zee simple For 500 n
wear, including the cost ofrallway travel,
is60,) be will be better aceomodated than
when be paid $3.50; 4 year for i've upper
rooms 10 French fat in the city, and
will, in addition, when the term oi
monthly payment expires, own the house
be Ia occupying. The capitalist has got
back his money, with ten per cent
interest," and the remainder OF his
land has been improving annually
in value as settlements on u
have extended. The idea thus broaehed
may in crowded and expansive localities
like those Of New York aud Brooklyn
II honestly and judiciously worked out
with no view Of iAking advantageol mis-
fortunes which may come to the pur-
chaser, be OF greatoeneut and VAlnrt ~
large class Of persons. 1t Is the install
ment plan, which hAs been long in vogue
Amoug sewing machine yenders, furni,
ture dealers, &c, proposed to Be applied
In new direction, 20 as to enable poor
men to aequire "house and home.1 Ia
different localities the scheme could b
modified according to circumstances, tht
character and siEs OF houses being adapted
10 the customs and needs Of the people
who should choose 10 avail themselves o.
the scheme. There are neighborhoods both
In and around Baltimore where II might
be applied on such basis and with sneh
notifications "a local experience would
suggest as necessary or desirable.
1scrsptARY cuRrAms.-A Boston com