In lieu of a February Black History post, WSIC continues, because it is Black History.
The Washington Sanitary Improvement Company (WSIC) was a late 19th century charitable capitalism experiment that ended in the 1950s. This blog started looking at the homes that were supposed to be sold to African American home buyers, after decades of mainly renting to white tenants.
Looking at WSIC properties they tend to have a pattern where the properties were sold to a three business partners, Nathaniel J. Taube, Nathan Levin and James B. Evans as the Colonial Investment Co. for $3 million dollars. Those partners sold to African American buyers. There was usually a foreclosure. In 1956 Nathan Levin died and Colonial Inv. Co. vice president Harry A. Badt took his place in the foreclosure paperwork. Then the property wound up in the hands of George Basiliko and or the DC Redevelopment Land Agency (RLA). Then there were the odd lucky ones who managed to avoid that fate.
Let’s see what happens with 40 Bates St NW:
- January 1951 Evans, Levin and Taube sold one-half of 40 Bates St NW to Mr. Bennie Lee Stevens, Mrs. Eliza Jane Stevens, Miss Sadie Stevens.
- Jan 1951 the Stevens borrowed $1,900 from Colonial Investment Co. favorite trustees Abraham H. Levin and Robert G. Weightman.
- February 1951 Evans, Levin, and Taube sold the other half of 40 Bates St NW to Mae E. Stewart.
- Jan 1951 Stewart borrowed $1,900 from trustees Abraham H. Levin and Robert G. Weightman.
- December 1955 the Stevens transferred via Lillian M. McGowan to their half to the now married Mrs. Sadie Stevens Turner.
- November 1961 the Stevens were released from their mortgage.
- January 1962 Stewart was released from her mortgage.
- March 1978 Stewart and Amos and Sadie Stevens Turner sold their halves as a whole to Redstart Corp.
This was a good story. People purchased property and paid off their mortgages, without a single foreclosure, and were able to sell their property.