The $150 Lot That Became a $150,000 Block

SEATTLE, Nov. 12.—Hillory Butler’s sale of his Second Street block in this city for $150,000, for which he paid Henry Yesler $150 thirty-eight years ago, created the liveliest kind of talk in local real estate circles. Mr. Butler, speaking of the sale this morning, said:

“I came across the plains with Judge Hayes, George Frye, Mr. Parker and Mr. Prather. We stopped at Olympia, but finally with Mr. Frye came over here together. In 1854 I bought the lot on which the Butler block stands from Mr. Yesler and paid for them $75 apiece.

“I bought it thirty-eight years ago and have held it ever since. I paid $150 for it and have realized $150,000 for it. Young man, if you wish to get rich, do as I have done,” said the pioneer with a broad smile; “buy a piece of Seattle property and hold on to it for thirty-eight years and it will be sure to be valuable. At first I used the property as a residence. Then I began to add houses and rent them out. When the big conflagration of June 6, 1888, came I had about $40,000 worth of buildings on the property and was deriving a large income from it. It was all swept away by the fire, and as I was unable to build I leased the property to Guy C. Phinney, who erected the Butler block on it. Now I have sold it, and at a good figure, too. I disliked, though, to part with the property after holding it for so long a time.”