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 24 Bates St NW:
- December 1950 (recorded Jan 18, 1951) Evans, Levin and Taube sold one-half of 24 Bates NW to Emma E. and Robert C. Rose.
- December 1950 (recorded Jan 18, 1951) the Roses borrowed $2,875 from Colonial Investment Co. favorite trustees Abraham H. Levin and Robert G. Weightman.
- December 1950 (recorded Jan 26, 1951) Evans, Levin, and Taube sold the other half of 24 Bates St NW to Joseph L. and Myrtle E. Terrell.
- Dec 1950 the Terrells borrowed $2,875 from trustees Abraham H. Levin and Robert G. Weightman.
- December 1959 the Terrells were released from their mortgage and owned their half free and clear.
- October 1961 the Roses were released from their mortgage owning their half free and clear.
- May 1969 Robert C. Rose died.
- September 1970 widow Emma Rose and the Terrells sold 24 Bates to the DC Redevelopment Land Agency for $10,800.
- June 1980 the DC RLA (doc #8000020294) transferred many properties, including 24 Bates, to the BSA Limited Partnership (Bates Street Associates). There is an associated contract (doc 8000020221, looks complete) stating BSA’s responsibilities.
No foreclosures. Both original buyers were able to pay off their mortgages. But for some reason they sold their halves to the city.