The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-12-31


r. FADING real estate men In Seattle,
looking back over the year lS9.
agree that in all it's history the city
- has never made the substantial ad-
vance IN realty values and In the
Investment Of foreign capitol to be record
ed for this most prosperous year. Prob
ably the most remarkable feature Of
the year has been the fact that whereas
formerly the practice was to make pur-
chases OF real estate on email margin Of
cash. with heavy debentures on record
the majority Of the sales of Seattle realty
made during 1889 were conducted on cash
basis. For that reason, and because of the
further fact that very large sums OF East
ern capital, invested 40 rule by fndtvid-
uals and not by corporations. has been
placed In Seattle and Is today represented
in deeds to large quantity Of centrally
located business lots, the record for 1922
is practically without parallel In the
city's history.
Contemporaneous with the investment Of
outside capital In Seattle has come an era
OF building ana general development, al
though this Is separate story. 1t -
fact, however. that In many cases EastasA
capitalists, drawn to Seattle by the mar
velous showing made by this city tn the
volume Of its clearings, In the amount and
extent Of It's business and commerce and
its steady, and rapid. growth toward met
ropolitan proportions have materially .ID-
proved their purchases by the erection Of
large and substantial business blocks.
apartment houses, storage warehouses and
private residences.
1t was the touch Of the golden wand OF
the Klondike fairy that wakened into life
and vigorous activity the somnolent pulse
'ne ess ' =. 90 s.,d ~ ~. .,,,, mn,
are ~ .n sne tns T,SrSsn arc,.ar,en.. ~ IA
attendant large volume Of trade was mere
~ circumstance In the reawakening, for
this city had suffered In common with the
from the black cloud OF financial depres-
TO-, ,sh;.,, h,,n~ n,,a. ~. I,nsn,, sro,,s faoa
:. ,so1 :. !. ..ns .sss ne, tnno 49,. -
tRorties that h 0 some o. Ss se
would have started things on the, upward
grade In Seattle had not the unearthing OF
countless millions of treasure In Alaska's
frozon sands accon,nlislad tha aaue re
-.
SUIT c4 ..,. r
"reat ASsy oom
with the late summer and fall OF 1897 came
the first sign of activity and development
in the real estate world which should
propely en-, cnarscteIize = y9uns ana STOW
ing city like Seattle, the business capital
of vast and virgin empire. A Few sales
earned manAV
for the keen investors many Of them ID.
col naonia wha sorss.w Ia. ne s,,,,r.
- p.or So, go ~
was 20 DING ior.n III ce@tue. rof Exam
at the corner of Second avenue and Pike
street. being the southeast corner. for
about S27 900 A few days later he secured
the aatoinin, 1ot a.. Goa oon ~ ! tr,fa lass
the Mot 81 I3o feet sotiare costing hin, an,
proximately In. 000.
MI. Stimson sold this sa me proper,v a.
few short weeks a ea FIR sIeN t10d snnt cash
thus making 3 clear snrofit ~ i'm ner cent
merely FOR the purpose Of iiIMstratinr the
substsnf;aI and nermaner,t nat,ire ~ the
gain ma.ie in h,,siness reaitv vei,,e. 4, o.
attic. Al that time the earning canacitv
of the properfy which is reearded "a one
of the hest uptown business corners In In
the city, more than Justified the price
paid. THAT is equally true Of the later
sale made by Mt stimson TO H. 3. Cabot
and others, residents of Boston, Mass.
Another incident showing the permanent
ana tanglpie cnaracter OF tne gam made
epitomizes the change wrought IN condi-
tons In this city during the past three
years, was tne purchase OF the Abbott
b pl1ck' at the corner OF Third avenue and
PIKE street. approximately eighteen
months since by G j. smith for trine
less than $780, 600. The property was sold
again by MIN last summer to Eastern In
Vestors Ior SaVVU casa.
schmltz, proprietors of the Butler hotel.
purcnased the kflgen dock on the east
SIDE OF second avenue, between Cherry
ana James streets, Tor Mi,0o0 This was
i has not been more than sixty days day;
since the nrm rerused an oner from an
Eastern capitahst OF S1o,Oo0 cash Tor the
properly
have been AZ much or even more favore ~