The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-07-23
WON IN REAL ESTATE.
CLEVELAND MADE 4 oooo Play.
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Cosfespondence. Mrs. Gen. Grant sold
her Nsv YORK house . fes weeks
aso for 3l35. 0oc. and understand
That this noasy = 70 b invested IN
pr ceat mortgage on wsshinston
City property. The story Of the saie Is m
interesting one. The house vas bought
some ysass before Grants death By his
friends, Geores ". Chflds and Mr.. Drexei.
Of Fhiisdeiphia. and sas made . present
% him. Drsxsi and chiids paid $4,000 for
the house. and is formed Gen. Grants
home during his last daya In il he
wrote part Of his hook and from it he
vent to Mount McGrexor 20 die. After
Gen. Granite death Mr.. Chiids advised
Ma Grant 70 cell the house. telling her
thai shs would probably find il too large
TOT her use. and that by investing the
money which came from Il she could gst
better income than BY renting it. Mrs.. Grant
refused 70 do this. She did not like to
part with the property largely for ssnti-
mental reasons. and she told Mr.. chiids
that she had refused an ofIer Of tl00, 900 for
II. Al time went on. however, she found
the property rather burden than . source
Of income. She has been living in the
country with her son. Ulysses g. Grant, IT,.
and not long ago she received this Offer Of
$l35.0o for the house. She wrote Mr..
Childs and he advised her 10 accept &.
She did %. and - soon - che received the
money telegraphed Mr.. Childs to come to
New York to meet her. Upon his appear
ancs she told him she wished him TO In
vest this money for her. She said that
Gen. Grant had relied upon his business
judgment moro than upon that Of any
other man In the world, and that she
wanted him 70 take this money and to
place it where he thought best She
thereupon gave him . check for
SIS. 200. and he took this with
him % Philadelphia. On the way
there he fell into conversation with .
friend, and this man asked him something
about Mrs. Grant Mr.. Childs thereupon
told the above story. which his friend tells
me. AZ Mr.. Childs showed my friend the
check he was asked what he expected TO
do with the money. He replied:
Il shall invest Il IN portsages secured
BY Warrington City red estate which will
net Mrs. Grant 8 per cent ! believe Wash
ington City property II the soundest in
the United States today. 1t steadily
grows in value and Il will not b affected
TO any extent BY panics or strtkss."
IL 10 wonderful hov many statesmen are
making money ont Of Wsshin9tou City aud
how capital nows In steady stream from
oil over the country into the District Of
Columbia. Postmastsr General Wana-
maker sold the Whitney house the other
day to rich New Yorker for $50 600, and
this man already owns . large amount
Of Washington City property. A num-
Der Of actors and actresses are making
investments here. and Lolita - said to
own . number Of houses west Of the
White House. Richmond parties have
bought great deal of our suburban real
estate, and President Cleveland ma de
about 500 per cent on his Oak View pur-
chase. He lives now within sight Of il,
but the land surrounding him has
doubled and quadrupled again and
again since he purchased 1t. and
il Is now sold BY the square foot in-
stead Of the acre. Cleveland made Just
Secu. sioo. ooa clear on Of e and Secretary
sale OF Grasslands. ! drive yester-
day through this region. The farms
are now planted with real esta 70
signs. instesd OF wheat ~And oats, and
ground which could have been bought
eight years ago for $500 an acre 10 now
worm $&sUsU 70 1tJ.VO al 8Gf0s MaK0ln.
cent houses have been built on some Of it,
and Just across the road from where Pres
ident Clsvsiand's coun try home now 10 II
the mansion Of Gardiner Hubbard, Tele-
phone Bells father-in.law. while on the
other side Of Vt. nearer the city, IL the
beautiful home Of another millionaire. Mr..
James Elyerson. the editor Of the Phila-
deiphia isqwirer.
senator John sherman said the other
day to a Cleveland. o., man that he
owned in connection with his brother-in-
Law 1000 600 feet Of land on Columbia
Heights. This land il now worth dollar
. foot and upward. and a. great part Of
1t is msds up Of some OF the choicest land
on the Height. IL cannot be worth less than
81. 5O00. Senator Sherman vas one of
the syndicate who bought the Stone estate,
winch WAS put on the market in lots not
more than ten years ago. They got IL for
lev thousand dollars. and the land Is
now worth millions. Senator Sherman is
q born moneymaker. Had he not been in
aire. and would have made n name rs \
great business man. When he began life
he decided to save 500 year and | VEN
tnrc that his increase OF hts fortune now
amounts TO something like . thousand
times that amount annually. lie is a
builder as well ~ dealer in land. and
he has large number Of houses az
the capital which bring him In a steady
income. He bought the old house Just be-
low ham which Edwin M. Stanton once
lived IN year or 50 ago for <So. COO and
turned it over In the course of few
months at . biz profit The house which
he Is building will be worth when IT is
completed at least $ioG, 600, and you ecalf
not buy the one next door. in which he is
now living, Tor 5000 cash. lie has
always had grca, faith in the growth of
the national capital. aud has owned more
ar less real estate ever STAGE he came 20
congress way back IN the tstics.
Some of the biggest houses in Washing.
ton City are owned bv Western men and
California miilionssres have always had
faith in real estate in this city. Not long
ago the late senator Stanford was taking
ride across the Potomac and he s;opped
his horses at the end OF the AqaeSiucs
bridge ssesr Arlington. AZ this point YOU
get good view OF the river on the Viz
gaia side. Senator stanford stood up in
his carriage and looked up and doxn i,
aad taen said to his secretary, aho was
with him: II want you 10 look into the
values Of land about here ana bur nae all
you can see IN every direction from this
point Ii get IL We wil. then build a
magnificent bridge across the Potomac.
viii run cable or electric railroad across
IL and make neg city on these
hills" His secretary 1t once
looked inso the purchase. bat he fonnd
that the land had such questionable titles
that IL would take several years TO
stFaighteu them ont. Before proceeding
farther he went 10 the senator and Stan
for. told him To give the matter un Said
he. Il arm too Old u man to begin 10 fight
real estate suits. and do nos need the
monev that this investment might bring
me. guess you had better les 1t go
And so il weai Had he bought IL il would
naa forsa a big part OF his estate.