The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-12-21

It back to the church upon payment Of $500.
the. amount of the original ilcumbrance.
and has given the church three years in
which to make the payment.
The history OF the case is given in little
pamphlet Just issued by the Rev. A. s.
Gregg, pastor of the church. entitled, Lost
and q nd Redeemed; or the Tale Of Parson-
vantages that will result from the redemp-
ton of the property. and appeals for con-
tributions from his CONGREGATION. The con-
tered into and 800 paid upon 1t to bind
the bargain
while it is possible" says Mr. Gregg.
TO e exten e s ne payments over e term ct
to pay for the property as soon as possi-
Bile. The unpaid balance, whatever 1t may
be, draws interest at the rate of per
paid the less there will be wasted In inter-
est money. Hence, the officers Of the
church have undertaken to raise $3.50 with
In the next ten months for parsonage
fund.
.sThe payments fall due as follows: Feb
ruary /, 1900, $50: May, $780, $50; Septem-
Der !. $780, 500. The last named amount
first payment. The remaining payments
come due during the succeeding two years
as follows: November l, 1900, 500; Mo-
vember l. 1901. $l5o; November !, 1902, $50.
In calculating the total cost interest must
be added to the above amounts. The con-
tract provides that the balance may be paid
at any time.
Careful provision has been made to pro-
tect the church from loss in case of diff.
Guilty in making payments. OF course.
help of this kind would extend the time
and increase the final cost by mourning
that every dopp pad nto the
fund will be used for the purpose specified
and will not be In danger of loss by fall
ure to meet the terms Of the contract.
''In signing the contract for the pur-
Of fbc no ha fr1IS hos
neither mortgaged nor otherwise jeopar-
died the property that was fully redeem
ed from debt last year. So that with the
protection mentioned the church has ev-
erything to gain and nothing to lose in
undertaking to pay for the parsonage.
ut would be almost impossible to pur-
chase similar piece of property with the
buildings, etc, within three of four blocks
of the church for less than $1,000 or LOO. A
transaction of this kind would also require
more cash and a higher rate of interest.
Furthermore, the location would be unde-
sirable for parsonage.
at must be kept in mind that this is not
a temporary arrangement. The present oc-
cupant of the parsonage VIII NOT pc the
chief beneficiary. The great and lasting
benefit will be the possession of a perma-
nent home for the pastor, whoever he may
be- where he can dwell in peace and safety
without fear of being ordered to yacate
cal demands of the landlord for rent
money.
at is agreed by all that the church needs
a parsonage. It Is also agreed that 1t is
poor economy to pay rent when it Is at
all possible to buy. The property Is cheap
for $500 considering the steady increase
in real estate values, and the amount OF
house building that is being done. 1t con-
sists of 4Ox70 feet adjoining the church lot
on the south and facing on Twenty-third
avenue, with the cottage and other build
ings.
enumerated, which are considerable, the
purchase of this property is equivalent to
a permanent endowment Of fraction less
than $1,000, drawing interest at per cent"