The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-03-31

Organized Corporation.
Many Of those who have carelessly noticed the
legend "columbia 81 80 conspicuOusly posted
suficicut interest to ascertain that il was the
name Of a new suburb TO seattle, II they inyesti-
gated no further. probably regarded IL as simply
in a certain time, By offering perhaps few
more inducements than ordinarily held out TO
purchasers. But these who have taken the
pains to inyesfisass the proposition Of , the
discovered that something entirely new, pracfl-
cal and Of benefit to vast class Is presented.
To intelligentIy describe the objects and
methods Of the company named it will not be
amiss 70 refer TO the causes which led TO its
formation, end give abrief history Of the origin
and development Of the plan.
estate Office. 1t was not designed TO provide any
easy way to sell real estate, but, as originally
presented IN this city, was intended 70 induce
small means TO buy property, thus inducing
large floating population to become freehOidefs
and permanent citizens, and TO contribute 70 the
substantial wealth of Seattle. There have been
times when it was absolutely impossible TO find
avacant dweliing-house for rent in Seattle, and
hundreds OF families moved away who would
now BE- permanent citizens If they could have
found honles In times OF great demand house
rents are excessive, and arc always burden
that poor man must carry Ii those who are
an opportunity within reach Of his means. One
Of the promoters of the company above named
mar familiar with the wants Of large and i'm
portans class Of useful citizens, and man
tons and similar cooperative plans for enabling
such class TO easily acquire homes.
who had lived where such methods had enabled
every industrious man who wished to own
homemade the attempt to create public inter
est In . movement In that direction in Seattle.
Several columns were printed in seattle papers
reasonable profit derived fromthc saie OF houses
at q reasonable price on very small weekly pay
menfs. The suggestion attracted considerable
persons conspicuously interested in Seattle, but
il was freely suggested that greater percentage
Of gain might be mace in other fields, and there
was general willingness for some one else to
engage in an undertaking that sayored more OF
philanthropy than business. At the same time
II was apparent to thorough investigators that
il was sound business proposition, and that
sufficient legitimate profit could be realized to
justify the undertaking.
The plan was revised, pruned and strength
ensd Esery ssas feature was tnro ,h
eral, consistent with sound business methods,
was added. The best features OF the best con-
Quoted building associations were incorporated.
with Others that would he impracticable in such
associations but perfectly feasible in different
With a perfected plan the promoters of the
To carry out their intentions it was necessary
that large body OF land should be secured. II
was imperative that such tract should be
ness center Of Seattle for man to live there
and work or transact business in any paf4 of
the city. 1t was. necessary to purchase such
Land at acreage prices to afford the operators q
ghost OF q snow for profit, as. even on the pro-
posed terms, they did not wish nor expect to
sell property IN advance OF its retail market
value.
Finally the opening of the Rainier avenue
electric railway brought the looked for opportu-
nifty A large expanse OF property compare
and rapid transit had brought all other sections
within range of buildings, improvements and
speculation Here was fine property, admirably
located, h which. except ior few ranches and
state. The subdiyider had made few ineursions
within its precincts and the Spectator had al
most passed Il BY to. keep pace with improve
came, and it was necessary that the land on its
route should be developed to furnish IL traffic
They wanted houses, aud the promoters of the
Home building Company wanted land on which
TO build houses. The company was formed of
such material and on such basis that it is
abundantly able to carry out all the details of its
plans. and keep to the letter every promiseit will
make. After several months OF careful prepara-
tory work II has finally submitted its prospectus
10 the public. Space win not permi; an extended
review at this time. but the following is sufi-
Gent statement of the leading features:
Their new townsite, Columbia, is located on
the Rainier Avenue Electric railway, about
ington.- 1t compr's es about 20 acres. fifty OF
which are cleared and the balance OF which viii
be cleared at once.
IL Is plated into about ]. sm residence lots of
which number l,ooo viii be sold for $40 cash and
II per week without INTEREST," for 80 weeks.
On 900 OF the lots feyery third lott houses will
be built TO be sold with lot for $1,000 tiot
3lxllol, $500, DOT 46xll0 feet, and se.fOo
tlet 60xil0 feet on the following
terms On each $I.ooe hous, and lot (o,hers at
the same rate) $40 cash and balance 81 per week
until house is completed, and s. per week there
after. il takes so payments Tin addition TO the
$40 CASH to pay for a house, making the last
payment come at the same period in all cases;
by which it viii be seen that every week a
man waits for his house lessons the cost
81. making the cost of each succeeding
house less than those preceding. a result
of cooperation, as all amounts reckoned So
interest are deducted from those who get their
houses first is from what is paid by those getting
houses later There is no extra charge OF inter
est or other expense beyond the payment
named. The lots are numbered in the order in
which houses are 10 be built and each pur-
chaser has his choice of any not sold.
In the event OF the death of purchaser at
any time after making the first payment. pro-
vision Is made to convey the property to his
family without further cost
Other Very important features are included,
which are fully set forth in printed matter
which can be obtained at the Office OF Roman 4
Rochester, ground floor. Occidental block. " no
are sole agents, and who will give any iniorma-
ton desired or who Will furnish free passes from
Occidental sluare TO t0iu,n bia and return