Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1892-02-08
TACOMA AS IT IS.
Editor Of THE HERALD:
TACOMAH. Wash.. Jan. 28. I,

Editor Of THE HKRALD:
TAcoMAn, WASH, Jan. %, 1892.
A kind friend has handed me . copy
OF THE HERALD dated January l, con-
tanning an editorial headed added to
the List"
/ frankly confess that the real estate
boom, which 10 necessary adjunct to
ali new townslte enterprises IN the
west, has departed. 1t left more than
two years ago, and there are no
mourners except those VINO overloaded
themselves with suburban real estate
referred to in your editorial. Follow
ing that came an era of quiet, but not
= collapse in value of inside property,
well located. Indeed there has been
. constant increase in the value of good
business and residence property for the
past two years. utterly deny that the
sign "For Rent" appears in every other
store window, and there are not more
unrented houses than could be found
in your own city. Within the past two
years . number of modern buildings
have been erected. heated by steam,
lighted by electricity, containing eleva-
tors and all modern improvements, And
1t il natural result that many hereto
fore occupied shacks and email build
| ings rented at enormous prices have
become vacated and Will probably re-
main 90.
lam IN the banking business, and we
have within the past year erected q
building of our own. Elk stories in
height, on . good corner. which build
| ing 10 paying us net 10 per cent on val
| uation of $l65, ZOO, and this does not
| include any rent for our banking rooms.
| which are worth At least $4,000 or 5000
| . year more. Surely if there had been
such . colispse - you 90 eloqucntly
portray, our building would DO vacant
and our business NIL.
| l confess that real estate men are not
happy, as they can only thrive when
lots are selling rapidly and there are
plenty Of eager buyers, but in the surviv.
al of tho fittest the real estate dealer eth
er turns his attention to other matters
or goes elsewhere for fresh fields aud
pastures new.
Forbear for . moment and let me
state few facts which may enlightep
those persons who have read the edi-
torial referred TO, If you will kindly
give space to this letter.
The hank clearings for the year 1891
amounted 70 $40 Zoo. 900. y gam Of
s. 900. 900 over the previous year.
Up TO January !. 1892, 2,500, 900 bush
els of wheat and sc, 900 barrels OF -four
had been shipped foreign ~ against
sos. 600 bushels of wheat and 80, 00C
barrels of flour shipped the year pre-
vious, and this was all Washington
wheat.
| ls5. 900 tons of coal were shipped
from Tscoms during 1891.
Thrty-eight miles OF electric street
car line was built during the year 1891.
A new city hall to cost $200.0J0 - IN
process of construction, q new chamber
Of commerce building At q cost Of <l50
coo, court house costing S2fo, 200, = ho
tel 10 cost Sl.ooo.0oo. Another large
hotel IN the city has built an addition
containing sixty rooms. A dry dock
has been constructed at . cost OF $780,.
600. an exposition building At Sl25, 600
The Northern Pacific Railroad com
psny mas Just completed car shops
here a. . coat of 81 go Zoo. There ars
eighteen saw mills with . daily ca.
pacitv of ,0oo 900 feet, and an invested
capital Of 81 500. 900.
II Real estate foreclosure sales withir
ens-half mile of bunness center durn1
the year Is2i--noas. Within one milt
of she business center tive. amounting
10 t43T 90. and within one and . hail
miles Of business center, slx, amount
ing 20 ti2. 500.
On the dats Of your editorial there
were ten ships IN pert loading whes
and fourteen on the way from AL fart
| Of the world.
General basness WAS ~ good - coulf
be expected. and there we're no syn
IN sny direction Of anything bat esa
slant Improvement in eur financial ant
: material coalition.
FTom The number Of Iettsrs and eli
tofzi comments received during th'
past iva or thres months ia this city
; il would appear that . concerted al
tempt Vas being made to give TAeoml
. black eye. and while | b<issve tba
your sdltsfial VAS bated npsn state
J nsnts which you thought we're true
stsii its far reaching effects will b
; barmfai usIsss refated, and viii en
} | dsassf 70 have sash sRfoTEsas3eu foI
wsFdsd 20 yoa ~ viii esnsiass 700 0