The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-06-07

Mr.. Chapin's Magnificent De-
partment Building.
Over o3oo,ooo - 8assssa Mccoy - n
I.vssesA Here - Osee h nh
one Kntsrpriss.

lnvsssea Here - Oaee h Thio
one Katsrprass.
Herman Chsp;n. president Of the Boz
ton National hank, has Just returned from
q three weeks sbsence in the East. where
he completed arrangements for the con-
styuction Of . magnificent new building
which will b the FIRST Of its kind ever
erected in Seattle. The carrying out Of
sach . project at the present time Is Of the
utmost importance TO this city. as it shows
how much confidence Eastern capitalists
hare in Seattle in spite of the great 6nan-
ciai st-ingency all over the country.
The building Is 20 occupy an entire half
block on Second street, between Madison
and Spring. Fronting on Second street
and 80 feet In length the building viii ex-
tend back li0 feet 70 an alley between
Front and Second streets. The building
viii b four-story brick strucsure-svo
stories below the level of Second street
and two sbove-and the Second street
front viii be entirely OF iron and plate
glass. in order to make all the possible dis
play of goods. II viii be constructed on
the plan of department. stores, with the
idea of getting different lines of business
into the same building and giving each
merchant the benefit Of the Others trade.
The idea has been very successful in the
East, buildings for the purpose being
sometimes designated Is "ascades," al
though Mr.. Chaplin does not like this term
for the structure projected by himself.
The plan enables all the stores to be seen
from one place. In addition to giving the
above details Of the building yesterday
Mr.. Chaplin said:
lhsve Just returned from Boston, where went
to az mp tbs building matter. ! remained .
week, and got $500 900 subscribed with which TO
buy the lots and erect . building on the west
side OF Second street. between Madison and
Spring streets. A week ago tclesraphed the
drss payment on tho lots, and will make the
other payments and rush the building along -
fast - posaibis. Isxpecs - soon - the plans
are drawn to push II % - to get the advantage
Of the tall trade. Il IL . great compliment TO
Seattle to get the money - this tuna The Bos-
ton market 10 flooded with psoposi;foas from all
over the West Offering al sorts Of Inducements
for capitalists to invest in asmoss al the West
efu citiea The subscribers to this Investment
are eli wealthy men in Boston who are already
interested In the enterprises which represent
out here and, In spits OF the eloseness OF money
and the disinelinasion 70 iavest as eli, sub
scstbed 70 this nsw enterprise because they
thought IL vas . conservative invest
msnt and they have great faith In s..
attic. I venture 70 say that there age
very few towns indeed in the middle or the far
West that could ct this time procure new capital
for new Investments. ] look on the times now
about the Same ~ they were seven years ago.
when nrss came to Seattle and made my first
Investments for my Boston frisndA Then. -
now, We were suffering from long era OF hard
timss; and nov. - then. ell that 10 needed for .
return OF good siuas II . return Of confidence.
consider this new iavestmsnt . show OF con-
Gdence. from the vealthiest aud the most con-
sentative people Ia the country, in the superb
wealth Of this stats and In the soundnsas Of
Seattle % . commercial and financial point
The cry in the East 10 for tho repeal Of the
Sherman Law. ft seems to BE- the expression
there without exception that everything in this
couLtry favors preSpefity With the one excep-
ton OF the lack OF . stable currency. II this
sherman Law was repealed tho prosperity OF the
couassy would Immediately show itself and al
the bugbears OF oveyproduction and hard times
would disappear like magic. II the law was r.
psaled there would undoubtedly be large in.
aux OF English capital The English have found
by experience that this is BY far the best
country for investments and Just this one mat.
sVt va unNtaSs0 Nutt0uty niaQetb toSul 1IOm
giving us the use OF their miltiouA think
that We in the wes. have not done our share in
spreading these questions Of sound currency
and OF convincing people OF the untold evils OF
IN unsound currency. All classes oil business
In the East are working on . very conservative
basis. and nnless something unexpected hap
pens they expect to puil through ali right
Judge Thoplas Burke was enthusiastic
over the news tina, the building would b
erected at once. When seen by q Posr-IS-
TEILI6EScER reporter last night, said:
The sale at this time OF the four lots on the
westerly side OF second street. between Madison
and spring. TO Eastern investors 10 very sigrif.
can't It furnishes clear proof OF the confidence
which conservative Eastern investors have In
Seattle propsrty. am informed that Il il the
intention OF the purchaser TO begin ss once the
OF . hne business building upon
this property. II 10 safe to cay that this trans
action viii bring Immediately ct least $500 ooO IL
cash into this community. That this 10 but the
OF the stream OF Investment % nov
from the East. to seattle ana vicinity
can hardly b doubted. For here e,se
In this country can there b found safer zelda
OF Investment than Ia the state OF Warrington
today. Here in Warrington We arc just bcgin.
ming to gather the greatest crop that ever wa
grown. namely. the crop o: lumber to supply q
A~SA ~ sHee hAhee ses&Ssy ~epCuu upon u0 lot
that very crop. From all reports Eastern Wash.
ing.ou will harvest this season ono OF the
largest crops Of wheat ever known in the his
tory OF the state. Here We have two of the
greatest elements OF wealth in abundance. with
. good market awaiting them. |, is no wonder
that The prudent conservative Eastern investor
turns from tho uncertainties OF stock snsenl.
lion TO tie safer. more steady and mors abb
s.antiai Investments OF tais new and growing
Even foreign capitalists are beginning 70 turn
their attention TO Washington. Two bankers
from Europe have been here this week with TIE
avowed purpose o. looking over the country
with q view 10 investmen. These rcnt,emen
expressed themselves as perfectly satisfied that
investments iudiciousiy made here would fuiaIl
the expectations and requirements OF the En-
ropcau capitslis:-being both safe And pros,
ahlc. The day Is near At hand when laYre sumx
al money will como here from Europe 70 snd
sale and profitable employ meat
BEYOND all question We have hero and now
the conditions for material Prosperity. and ma.
isr.as prosperity in q very large measure II "a.
were not .ntes.ersd with by outside conditions.
cafe. among which in oar own country n ia
aSo.n Unable tinke.ing With our currency and
stupid Interference with the natural Law Of
t.aae ant commerce.
SWAN DODGEs The sEAMyy.
He Leaves Befsre an Action in Per-