The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-05-05
Fairhaven Land Co.'s Property
Now Divided Up.
J. j. HILL INCREASES HOLDINGS
Statement Il Made That He Is Soon
to Acquire the BeIlingham Bay
Improvement Company's Proper
ties on the Water Front-Has
Promised 10 Begin improvements
Next Year-Real Estate Advanced.

The final settlement Of the troubles,
financial and legal, that for two years
past have engulfed the Fairhaven Land
Company has at last been effected.
While a settlement without resort TO a
long hearing in court was probably agreed
upon several weeks ago, the details were
only concluded this week, and according
TO report the town of Fairhaven will in
the future receive much benefit by reason
of the Indication. According to a prom
inent business man of Fairhaven who ar
rived I'm the city yesterday to attend 10
land company matters, the Bellfngham
Bay Improvement Company receives
large part of the Fairhaven water 'front.'
property. together with more or less other
appurtenances OF value. including several
valuable lots in the heart of the city. c.
X Larrabee, founder and two-thirds own
err OF the Fairhaven Land Company, Sc
cures the Fairhaven hotel and large
tract of land just back Of the water front
President James ]. Hill. Of the Great
Northern, in his own right receives
large block of water front and other prop
erty, which, 1t is believed. will amount to
more than his one-third holding in the
land company. The statement Is also
given out as authentic that the property
acquired by the Bellingham Bay Improve
ment Company virtually belongs 20 mr:
closed will be transferred to the Great
Northern railway .
The settlement was engineered by At
torney. A. l.. Black, who, as representa-
tive Of the Bellingham Bay company.
sued the Fairhaven Land Company Tor
&350000, n good portion OF which Is SAID TO
be for purchase money and interest.
1.-THE Fairhaven Land Company trou-
bles have been settled said the gentle
man who gave statement Of the above
division OF the property yesterday, land
already an eject is being felt in Fair
haven real estate circles. In the new
deal the Great Northern railway has more
than doubled its interests In Fairhaven
property. and we believe that Mr.. Hill
has improvements In store that will ma
terially advance the prosperity OF not only
our town, but the whole Bsllingham Bay
district.
"The settlement was practically effected
when Mr.. Hill visited Fairhaven, three
weeks ago. Since then the details have
been perfected and the property aa, ira, trans
considerable amount of money. but has
some very valuable property that In the
near future will return his losses
not fully known and probably are not al
together perfected. In speaking of his
intentions to business. man when In
year the company would begin improving
TO undsr.t.n %' tsst several large wsre
houses would be erected. and much Of
the company's bushes would be handled
from that point. There was no intima-
ton that Fairhaven would be made to de-
tract from Seattle business, for that we
can never expect to do. but there would
be a class Of trade. he said. that would
be handled from our harbor, Of which
Mr.. Hill Is very proud.
This mere announcement caused prop
erty to advance very rapidly. and more
real estate has changed hands In Fairha-
ven within the past two weeks than in
any other two months In the past. The
market r. certainly active. and has been
strengthened by the report thet the Bell
ingham Bay companys holdings are soon
to pass TO the Great Northern"