The Providence news. (Providence [R.I.]) 1891-1906, 1892-04-13
NEWS OF REAL ESTATE.
The Wood Harmon Company's New
Enterprises at South Auburn.
4 DESCRIPTION OF THE TRACT.
On Monday q Party Visited the Property
and Returned Well Pieased-saks
Being Rapidly Made-Transactions in
Real Estate and Intentions to Build.

Real Estate and Intentions to Build.
A large number Of people visited the
new suburban property at South Auburn
q Monday under the guidance of B. II.
Knowles. manager of the Wood-Harmon
Company, who are just beginning in this
city one of their unique enterprises which
have been so successful elsewhere. 1t is
wonderful how popular this new method
Of selling property has become and to
what extent it has won public conhde nee.
especially In view Of the skepticism with
which it was originally regarded.
Lake the savings bank in its early his
tory. once thoroughly understood IL be-
comes n permanent institution. Doing
away with interest charges. taxes, exami-
nation OF titles, cost of passing papers,
etc, the obligations and vexations resting
upon the house-hunter are reduced in the
average from o~ne-fourth to one-half,
while house lots under this system are
sold on terms SO easy that the buyers are
enabled TO secure homes of their own in
attractive localities by paying in cash
each month a sun no greater, often less,
than they ordinarily pay for rental. South
Auburn is the fourteenth enterprise which
this firm has undertaken, even larger
properties IN the West and In Massachu-
setts having been handled by them with
great success.
Thousands of families now living in
homes of their own, who would but for
this unique and helpful system he still
boarding or renting. Thu visiting party
numbering from so to 100 persons on
Monday, left this city by the n. Y, p. e.
B. fine, and proceeded some 81 or o miles
out to the new stop upon the main line at
the junction of the Pawtuxet Valley
Branch, n half mile south Of Auburn
depot, where a handsome station Is being
erected on the property by the railroad
company. This picturesque and con
the Vicinity OF 5000. The party was
conducted over a large portion OF the
estate which Is being laid out and highly
improved for the purpose OF home build
ing, and all expressed themselves as
greatly pleased with the location and the
general appearance OF the place.
The 100 acres or more which comprise
the tract are admirably adapted almost
in their entirety to the purposes OF home
building, over half being level and clear
of timber. The remainder has q light
growth Of chestnut and oak, which those
who were looking over the ground con-
sidered an advantage where a certain
amount of shade is desired about ones
dwelling. The owners propose planting
shade trees in such portions OF the sub
urb as have no natural growth, n this
Is 0uI ONO OA tn0 Uudiy Improvements
which are being made. Well graded
streets are opened, running north and
south. and east andIxest, these latter
opening upon the main highway TO Prov
idence, Greenwood avenue, In the present
settlement of South Elmwood. The
Pawtuxet River winds about the south
ern and western boundaries OF the prop
erty and to the west and north the we'll
known market gardener Budlong has his
extensive farm. The proximity OF Au-
burn seemed an added advantage and an
inducement to locating in the new sub
Allen still stands in its original location,
and the greater part OF the old Allen
Farm was included in the purchase for
the suburb.
Mr.. Knowles stated that the secret of
the low prices which will prevail here for
q short time lies in the fact that so large
\ territory was purchased at acre price at
. time when the land was considered en-
tirely ppimproved and somewhat incon-
veniently situated as regards railway
facilities, IN before the grant Of the new
station had been secured or PUBLICLY ex- |
buyers the advantage of these low prices,
Notwithstanding the fact that the extern
sive improvements and the location of the
depot upon the property have probably
already Increased the actual valuation OF
the land fully 25 per cent. The firms de-
EiIO 10 W cSt8blSu ~ buCCCss VI WIG pidCS l
ut the outset rather than to derive any
profit from the early purchasers, looking |
20 time and the friendship of these first
customers and the intrinsic value of the |
property itself when it shall have become
= prosperous community, for the profit
which they must derive In order To make
the enterprise a paying one.
Some dozen or more lots were bought
by the many visitors, and many more
transactions partially completed, and ar
rangements made to conduct another
large. party, consisting mainly Of the
within q few days. The advantage of inn
mediate purchase here seemed apparent to
all, and there was much interest mani
Tested to bring others to secure property
here while the choicest sites remain, and
while the Wholesale prices now in force
ere available. The ideas of the owners of
the tract are for a limited period to whole
sale lots OF considerably more than usual
tize, giving the buyers the opportunity TO |
divide and resell at advanced figures, re-
tanning sufficient for their own residence,
and largely decreasing thereby their own
square feet, being l0ox10o, while a few APP
pear upon the plan of less size. Price per
per lot.
There IL entire immunity from taxes
and interest. These latter facts are note
w Wy tuocInutu dS iuttfteb anu tdNtS 4
have always been a drag upon the partial
payment system In real estate. The firm
also protects the families Of buyers by
agreeing to deliver the lot purchased
without further payment, in case Of death.
There are many other inducements offered
10 purchase here, notably the offer OF $500
IN cash to each Of the first fifty persons
building the first year, and the one-year
free railway pass TO heads OF families re-
siding upon the property by January next.
Auburn is one of Providence's most
promising and attractive suburban towns,
and the new suburb which lies immedi-
ately at its southern extremity Is there
fore favorably situated for residence and
offers n reasonable prospect Of substantial
return for money invested, ever though
one does not care 20 build. Those buying
for cash receive 10 per cent. discount, and
persons buying by The payment plan who
find themselves able TO pay more than
their requisite weekly amour and desire
10 complete the transaction sooner than
required, are given n 10 per cent. credit on
all sun 8 paid in excess OF the regular dues.
The firm states that great care will be
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