The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-08-07
THE PASSING THRONG.
A Chicago Newspaper Man on
Seattle Papers.
THE MACHINE PRINTER COMING
How . Press Manufacturer Misssd m
Opportunity How Foreign In
vestors Are Shut ont.

III. A. Hutchinson, one Of the managers
and propfietors Of the Chicago Evening
journal, arrived In this city yesterday
morning, and is 1T the Arlington Mr..
Hutchinson IL making tour of the Coast,
and viii spend about two weeks on the
Sound. Naturally, he could not say much
about Seattle on such short acquaint-
ance. but he did say that he was delighted
with the city, its fine buildings, which he
declared equal to any he had seen In any
new city, and its climate, which had evil
IDENTIFY been slandered to him, for he ex-
pressed surprise that Il did not rain.
The first remark Mr.. Hutchinson made
when Posr-INrELLIGExcER reporter intro
tluced himself, was: ''The PosT-I rTELLI-
GErcER is good paper, better than any |
have seen in any city Of the size of Seattle /;
it has . truly metropolitan appearance,
and gives evidence Of being carefully
edited. That Is point which newspaper
man immediately notices. for nothing Is
more obvious at the first glance than that
. careessly edited paper is thrown to-
gether.' How many papers have You
here?''
Mr.. Hutchinson was surprised to learn
how many there were and that the number
was soon to be increased. When informed
that all four daily papers had perfecting
presses, he smiled self-congratulatory
smile and said:
when read of your great FIRE, re-
marked to the manager of one of the big
printing press companies. There's your
chance; all those papers have been burned
out and they want to start again with per-
fecting presses He said: OIL they'd
never want any good presses out there,
and neglected to come here. Since then
you have all got perfecting presses and he
has admitted that he was wrong"
What do you think about the type-set-
ting machine"
II think 1t is bound to supplant the
drunken and the tramp printer. We are
introducing the Thorne machine in our Of
fee and find it to work well"
The clause of the constitution for bidding
aliens to own land in Washington has just
driven away 100000 from investment in
this state. C. B. Cope, of Herefordshire,
England. came to the city q few days ago,
in company with Il. M. Wistar. of Phila-
delphia, intending to invest that sum, and
called on several real estate agents with
that object. When he visited Gilman &
McKilIigan, ]. B. McKilligan informed
him that be could not own property in
this state unless he declared his intention
of becoming q citizen. That settled il.
Mr.. Cone came to Seattle to invest some
idle capital, but not to change his residence
or allegiance, and he went to Vancouver,
B. c., where any man-American. Turk,
infidel or heretic-can acquire property if
he has the necessary cash.
In telling these facts to a PosT-INTELLr-
eEScER reporter, Mr.. McKmigan said: 81
know that that provision of the constitu-
ton is designed to prevent the English
landlord system from being transplanted
to this country, but also know that it has
prevented the investment of considerable
capital in this state believe that money
is q good thing to get into the country, no
matter where ii comes from, and that the
introduction of the landlord system could
be prevented without preventing foreign
investments altogether. know that there
are large sums of money lying idle in Eng
land and Scotland which are seeking in
vestment abroad, and such laws as ours
prevent us from getting this capital. Much
of it is drawing no interest," more draws
only u to 2 per cent, and az to per cent
i. only paid on tirst-class hereditaments in
Scotland. If man gets per cent his in
vestment is considered risky and per
cent is wild speculation. Here money
can only be borrowed as low as per cent
on gilt-edged securities and 81 to I is low.
OF course the foreign investors would lend
their money at these rates, but
there are the difficulties of finding good
attorneys. paying commissions, etc. These
people would much rather buy the prop
erty directly and, allowing for the differ
ence in rates of interest here and in Eng
land, they can afford to spend the differ.
ence in improvements, while the man bor-
rowing here at per cent has not that
margin"
"iow can you get around the law7"
"There is only one way. The agent can
not hold the property in trust for the pur-
chaser, because the law forbids that device
The only way to get around it is for the
purchaser to hand over his money to the
agent, let the latter buy the property and
give his client mortgage on it for the full
amount for thirty days or So Then let his
client foreclose. But that is a cumbrous
process, and very few men would care to
resort to il.