Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1882-04-26

SCARCITY OF hoCsE5.-as al Ai"sstt
ton of the present scarcity of dwelling
houses in Seattle We will cite an instance
that occurred yesterday. A gentleman
reserved dispatch from San Francisco
informing ni.n that friend OF Ms
" ,u.d SAL fro there On tbs 18th, anu
requesting him to secure Il house vi
from three to five rooms. Wishing ~
comply ~ desired he searched the en-
tire town over, and 50 far has not sue
cseded la finding one empty house.
Should there happen 10 be one the own
or will find tenant by applying 1T thus
office. This would seem 10 be thu
strongest kind of an argument In favor
of the system winch was once 50 popu-
lar in san Francisco and which done
more TO build up that city than any
other cause. We refer to building asSo-
Citations. The San FRANCISCO real es-
tate association. composed principally OF
men of moderate means. organ led III
1872 with paid up capital OF S'3,eV,
and during the first year of their exist
ence they bought and sold one million
dollars worth of property, paying div
idend of two per cent. d month. IRIS
mode of operations alter they organised
WAS to buy block of land suitable for
the building thereon of dwellings that
would meet the wants of The laboring
classes. They thea announced THAI
they would build house suitable 10 the
wishes Of intending purchasers, Tor
twenty-five cent. Cash OF the total valu:
ton of the land and improvements, bal
ance i'll quarterly installnents Of ton per
cent, deferred payments bearing inter
sst and secured by mortgage on the
property. The first year they built 40
two-story buildings, that sold together
with the lot, 3OxI1 FROM 5000 to 500
apiece. The second year they built
douois the number and Increased yearly
In their field of usefulness until the
great financial panic, consequent on the
failure of the California Bank, when
every business and industry WAS shook
to its foundation. 1t WAS only then that
this great building association WAS
compelled to succamo t. the PIE sure OF
nard times. When they closed their
doors their assets amounted to aboGt
15,O0,UJ and their Liabilities 10 some
thing less than half that amount. Show
ing the niagnatude Of the business they
built up III period of time. covering
something less than Six years. Now II
such u Colossal bdolues 81, as the one re-
fered to, could DO built up IN San Fran
CISCO, why not Ill Seattle to a lesser ex-
tentt IL cannot be argued that there Is
no field for such an Institution III con-
sequence of real estate being within
tho reach of most Of tie laborlng
classes. Because there are hund reds III
this city VINO can easily pay down %
Der cent. on moderate sized house anu
lot, who are unable To purchase the lot,
alone improve it. Many of our large
property holders think IL they were To
follow the sug, es;iols OF this article
that they woold not get half what their
property would ultimately be worth.
We will answer that point by asking,
wculd properly ever have been worth
anything Was II not for the increase (
populotion! We desire our city to
grow, To Increase III populations; aud 10
do that We must Encourage people ~
Come here, and when here We must
afford them at least as good facilities
for living and educating their ch,ldreu
as those they left. For argument sake
We will suppose that twenty i've families
were " ar i've here today--uot an i'm
probable event 10y any means-what
would be done to even house them tenn
| porarilyf We will venture the assor-
ton that they could hardly find pl ice to
lay their heads, as every hotel In the
city ~ filled to repletion. This my
| sound strange TO those who are ignor-
ant or thoug htless Of our present CON
dition, but it is nevertheless fact be-
yond successful contradiction. ten
lot this subject receive Immediate and
earnest consideration by those who no
doubt have the BEST interests of the
| citJ at heart. When We say ''those"
We mean men OF money ard pubic en-
terpriso. 1t will pay, and ut the same
time build up u city that need fear no
competition Oh the sound. Give man
chance to have an interest in q COM
munity, and he will roman, all things
being equal. Shut him out and you
loose hi n. We close this article with
the hope that this subject, unlike the
Immigrant Association that was started
here in the spriag of 1879. will be
thoroughly considered and eventually
bring forth fruit.