The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-02-20

George Ehret.......- .....-.-..-... 500 a.
II. q. Mills. ................-........ stsst 80
ScloFneD Loeb .-.-...-..-....--...- e-'ssf 80
Stokes CSf&ke..-.-~ ...--.,-- atssktsH
Z UrusSS eState-...-- ......-......-. .sss3 30
Roosevelt estate. ....-..-... aasHA9fsa
Matthew NiiSs-....-,. ....-..--.-. a.sssatsa
H. Willis James. 5asoot
All these estates apparently nave q TX
ing fer hate. nroUerty. the AssorS hgsve
built the Waldorf the Netherand ana tbe
Astoria. tae Goelets. the ImpeFial-.addi
( tional % the knicSerbocINer ana Murray
HiA theaters-and The Windsor which
stands on land that was originally part
of farm. and The EnOs. the Fi.Ih Ave
nue. hotel
y. -. Nils ard Matthew WIks are con-
nected chiefly with valuable onic- build
!nSs- Two q Jhetr largest properties
stand en- either side of Broad street. n
(. We'll on sites that cost ~ huloUs fi14res.
The Mills building is the best known.
The estates OF Arnold r. Constable.
Alfred Corning Clark. James AIcCresTy.
George Ehret and solomon Loah were
founded ga money that wes made IN trade
ana then put In land as the safest cl All
securities.
The Rh.nelander, Wendell. Lanrior.
Roosevelt, Eur1iss and Stokes estates
have reached big figures thr0uSh general
tions Of heirs Shrcwd enough 70 SEA thar
thu wlsest policy % management was enc
which held on 10 New York realty.
Again there are dozen other estates
ana individuals whose prominence as land
owners is almost as great as those cited
but the score of names given ln the table
show what 81 powerful combination of
business interests there can he Il ali these
people select The new enterprises % John
Jacob Aston as their mediums Of vX-
change 3spDStf AND iucuT4nT,
There are other people II great wealth
the Ayers. Pearsons, ClaNlHs Schultzes
aid Greens. worth from S5,00ete 80
So go CO. residing I'm New York but taeir
investments are principally In other cities
Ii IS possible that they also may become.
TO a greater or less extent. patrons Of the
Aston Insurance company. The totals
given above in the table are entirely ox-
elusive OF personal property and only IN
dictate ne amount Of real estate holdings
Ia ; ~ York city The Gerry estate has
- A minor part Of its property repr--
scented. as IL : collectively estimated AZ
81. 600 000. The Goelet estate is fully twice
as much rs given. AS it has real estate
holdings elsewhere. and u, O. Mills has
many valuable properties in san Fran
cisco.
The element # strength that was noted
in the real property on Manhattan Islaod
and the annexed districts during the re-
else in the country were greatly declined
IS explained largely hy the fsct that prop
erty there IS distributed among q very
small number Of persons All OF " 1om are
SO wealthy that a temporary strlasency
! in the money market or even q prolonged
period Of distress In mercantile circles
does not cause them any Inconvenience.
For the past 1--WE years there have been
many owners OF gilt edged -
whose necessities forced them %. SCH hut
there has net been so much property
thrown on the market bat that tat l-~sre
landed proprictors have easily absorbed
it, Their enormous incomes have afforded
sort Of sinking fund tor the rescue of
landed property. This warrants the
praise frequently bestowed ON NV \ arl-
city real estate that 10 IS rs good ts United
States government bonds.
There have been overbuildiug ana over
speculation. and these have produced
imitation Of prices with the result Of
gradual shading 10 normal figures. The
great backbone OF New GOtk-Br0ad-
wav-and the streets and avenues
crossing and contiguous to it nave held
their own and even appreciated. despite
failures. falling prices and interrupted
enterprise.
The great estates have been built UP by
close obse ryation OF the arteries Of tae
city Their founders followed the trend
OF people and of money and Left an in
junction to their Successors 20 do like
wise
Property cannot legally be enalled IN
this country. but many Of the pos~e.sors
Of real estate have established system
which virtually and practically amounts
to the law Of primogeniture. Family hold
ings have been tied Up IN trusts. have
been incumbered with prohibitions not -
sell during the life Of the longest living
child OF the longest living heir. and IN
k4r - N4
they might increase ten. fifty Or hum
dred fold.
Colonel Astor Is making rapid progress