The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-05-30

,.sn ke2s No pretty vel. .,a re
aaf the srr. wcrx a, .rw ~s.-s
- aors On !; last year.
49, = = son tnis merely % sfow .sat tHss
i. - "a spn~ - tire bari ,trses' s--s rot
altsres this city has asx,r< Ss-.s -
sAe ssrrosrfzrL--z
4Ss arficze goes On "a ~ -. a..
.'.sL % ss1eot@3ness shau he - -
ss.lo~a % he state Constitutes, ~ 49,
- -. discriminating this. one n.ace -
-. =. - s-ss 20 shs amount Of xz1s s,a
pa an tfsass va,aa stpr.
b~sssvs Mr.. Atssn <ro~- -.
nsusfs Tor tbs 'one Mace. hy 49, 49,
sIapa. starting of abo-s- the sss.rss.se.-r ~
- sfs1 Tacoma. & m gar ~sxflx he A..
s1uaeG mai The sst1sssfon a. ssaf.f. n 49,
-. 80 hys~u 70 my orn estyy might b. bas.
~ s..s not 30 tns a. In shfs one rfs~e
ss',.tA.s'sHs As matter Of fact. gex-tle
as issre1 no warrant. for sh- n.., ty--
years. II having been On, . cash 80. -
pAysng rs expenses each ussnsh srar, s,s
rscespss '" 'i'n'
- quote again: The we@serns-s hsx.
Isahzed this fact fshe fact that IRE re-
We Who hold thsse warrants Rave NJ a.
1910 ssaaee OK ever getting their rroneyo
4. sass SOC she-r paper At prices great
- tsoocfd from iss face vzls,s "a r-a~s.~-
peopse There are. Of course. All tinss ~
warrants bringing all pr,ce. ara -. -.
.e.nk " the warrants from fhts .or.
ornE low price. N they can fnt
ANYBODY 70 take them at ali.
.,s,s - sfanss isssed by the state pre
ss.a ~ premium: the warr~-ts t~.v.a ~,
hIhg county fof which sea,tl, 4. a.. go
.rau sell for about par. BAT me va.
nss 1Fsw Der cent, while nc p~r r.n,
.os going rate here Our la.s Z -
, -s"s. CRY bonds sold for a sligh, ,,sco,,n,
ttnsfe are. however, % many s,rs~.,,
I-rss warrants OF difYeren, grades thai
,.,r,,'. misleading some one myself by
'~srAs anout them in seueraiitie..
TO quote again: The rf.txs,z -. a.
sfhseted towns ffh.s IL In the na,agra-'h
headed Seattle and Tseoma) are nov ro,.l,.
ing 20 the state legislature 10 helm ,be-.
sst "a o. their creditors ana 4, ia erect
ga when the legislature meets 60 ths f.a,
" VII enact isw giving the eo,n,ie.
s'u rifles the right 10 nse the taxe. FOR
1.Iehe expenses This they cannot do
rants W
me legislature does not NEE, nex, sajI
suppose n recent decision Of the s.,-
preme court IL referred 10, IN n case .r
utied barton va Treasurer Of Thurssor
county. handed down In February las,
IN when u was decided that the 1895 levy
ana the delinquent taxes can be consld-
erea an asset which can be used In esti-
mating the proportion OF indebtedness 70
the assessed valuation. In our ra.. an
bills DO no' have to be paid by warrants
Tor we have paid our Bills In cash
dr. Alden further says In Seattle.
which In 1889 and 1898 resamblei In sorne
respects New York. with It's rush OF peo
pie on the streets Their. ara
whole blocks. equal to any In this city, va
can't
AS Mr.. Alden was not here before last
month. the conditions In fsse and 1897 muxs
have been hearssy with him. There are
undoubtedly gooi many vacant stores
IN the outlying parts OF the town which
were either built for speculation or with
bad judgment; but gcansay that a corpor-
suon orxanired by Boston people In 1855
and owning business property here, has as
It's principal properties $40 feet OF store
and Office buildings on one OF the main
streets. and that of the nine stores In this
property there has not been. between
lS and February. 1875 q single store va
can't Tor so long as one month Since Feb
rf'---' 'h>-~ e-- ss-. n-@ Vacancy
This corporation. too. has never rasSed
dividend since u first started In 1857
The statement that the banks were not
earning money enough to pay their rents
II entirely unnecessary and uncailed for.
There are several that did not earn all
their expenses last year. but the brunt OF
the hard times has fallen on che banks
Our banks were strong enough during the
panic. when there were bank failures all
over the country. to stand through the
panic without single failure. There have
been one OF two failures since and one OF
two have gone out of business. which IL
only What could be expected from such a
long drawn-out nerlod of depression.
f" 'Frnrerf~ ~ SEATTLE ana Taranra which
had sold for 500 an acre could now be
bought for fiA' There has. of course. been
. large shrinkage on outside properties.
but the facts just given about the real
estate which I am personally acquainted
with would entirely dissroye the idea
which might be given that property worth
a fictitious value In is33 Is worth nothing
now. Contrary TO what might be expect
ed from the expression OF Mr.. Aiden's OBJ
seryatlcns. there have been comparatively
few mercantile failures.
Most of tho merchants the past year
have found that their profits Just about
cqualed their expenses. and with existing
conditions they were perfectly satisfied
with that showing Quite a few have
made a little money, and a number have
lost money; but u r. great mistake 20
think that the merchants are doing no
new business and are carrying their Gus
toners from year without any cash pay
ments or realizing anything from their
accounts.
This clipping was sent 10 me by an In
weston who. however. appreciated the sit
uation exactly. hut many others might
read it-new when there are 80 many ar
acus;ics 70 overcome and when the West
particularly Is no; looked on with favor
and wonder II state OF chaos and dis
honesty exists without any exceptions
'ons might easily draw conclusions
from the article which Mr.. Alden himself
might net countenance. and wish 20 say
for Seattle that she has an honest cry
government and her citizens generally are
loyal and they are doing their utmost.
both IN their individual and corporation
affairs. 10 make both ends meet anita
the business conditions throughout the
country shall change and allow business
to Row again In its customary channels.
'swtth a people under sgch stress Of
circumstances. and doing their hest 10 I've
ana do wha; IS right. II Is a shame TO have
any unnecessary obstacle thrown IN their
way. Very respectfully.
HERMAN CHAPLIN.
Seattle. Wash. May a. lsee"
The Advertiser gave this srsicie a PROM
inen, position. with display head, as
fo,iow$. Net 50 Bad Seattle. wash.
Not Broken hv the Hard Times Econ
enaseal Administration and Investments
safe"
The Interview Incorrect.
when this answer Of Mr.. chApin's came
10 NJ Alaea's retiec he promptly wr0te
a lengthy letter IN regard 20 the matter.
IN which he said tha; ne regretted exceed
sagiy the x&y IN wAi~h ~ was utsducted
ana n1isrefrezsnsei IN this article, The
article wNs not written by him. hpt was
sls,srix the proslaeftor 81 reporter whp
allied ard had = sNc-, interview with
Ainn. NJ Alden stated that IN the course
Of the conversation ~ mentioned the
-, fifIns. nf one % Two % ne s.ralle-