The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-07-14

The confidence felt by the investing pub
was evinced yesterday by the closing OF
the largest real estate deal. not only OF
this year but of several years past. Though
the exact amount involved Is not given
to the public. it is understood 10 be between
500. go and $5o0.000 Even this large amour.
does not tell the whole story, for the prop
erty in question is to be improved at a
cost of fully as much more. so that the
total investment viii foot up not far short
of sl,0oo0o0.
The property sold IS a large part OF the
holdings of ex-senator Watson L. Squire
by William Nottingham. of New York, for
a New York syndicate The sale includes
a strip sixty feet wide on the north side
of Spring street and having a total length
of 40 feet extending from Post street 10
Western avenue from Western avenue to
Railroad avenue, and from Railroad ave-
nue. to deep water The outer part of the
property is occupied by the Merchants
dock ana warehouses, and the shoTeward
lots are occupied by warehouses. 1t also
includes about $40 lots in Squire Park,
improved lot 60 by 40 feet at the corner
Of First avenue South and Jackson street:
and three-fourths Of the unimproved block
bounded by Weller and Lane streets, Sew
enth and Eighth avenues south.
Extensive improvements Ia he Made.
The purchasers of this property have
made the investment with a View 10 maxi
ing il pay an income, and with that OBJ
ject will Immediately begin extensive i'm
provements Most of this work will be
done on Squire Park, which comprises the
crest and both slopes of the hill directly
east Of Athletic park. This whole tract
Will be cleared and graded and Il number
of residences will be erected for sale with
the lots on the installment plan. This work
alone will cos. approximately s5oe,e0o. A
similar policy will be pursued with regard
To the Weller street block and a business
building will be erected on the lot on First
avenue South. The Merchants dock will
be materially improved and extended and
a large and substantial warehouse WIFI be
erected on il. The adjoining lots will also
be covered with store buildings, and the
total cost of the improvements at this point
will be from $25.000 TO $50 coo.
Two other sales of considerable magni-
tude have been made recently through ].
A. Moore For the Mutual Benefit Life
association lie sold TO DR. T. Il. Lincoln
OF New York. the Griffith block on First
avenue, between Madison and Spring
streets, for sSo.0oo This lot is 60 by 30 feet
and is occupied by a three-story brick
building. which is paving a good rental
The other sale is that of the lot on the
east side of Second avenue directly south
Of the corner of that street and Pike street
1t was bought by NJ F. Dickinson from
George Kimball for $4,000. The lot is 80
by 40 feet. and is occupied by two dwell
!ngs, which will give place to a business
building this fall.
Real Estate Men Pleased.
Real estate men III general are enjoying
a decidedly improved business and report
an active inquiry for real estate from all
directions. This Is true not only OF inside
property but of farm lands throughout the
Sound country, and several sales 10 new
corners have been made within he last few
weeks. Seattle real estate has ceased to
be considered a speculative investment az
II was during the last boom. for the city
has become recognized one OF the solid.
substantial. growing cities of the United
States. property IN which can tie relied
upon a safe. income paying investment
This condition Of affairs is an evidence that
the investing pubhc considers the Alaska
movement to have only Just begun and
TO hn destined 10 continue with increasing
volume for years 10 come. AZ they ara in
a position 10 Judge Of the hold which the
gold fever has obtained on the mind- %
the niassgs 81 the public. the fac; that they
are backing their Judgment with their
money will serve 70 rcassure those pessi-
miSts who have maginei that the exodus
mad reached lis highest point
FRIDAY evening viii be march ami
waltz night al Madison park