Morning Oregonian. (Portland, Or.) 1861-1937, January 01, 1907, Image 13

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Morning Oregonian., January 01, 1907, Page 13, Image 13

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Newspaper Page TextTHE MORNING OREGONIAN, TUESDAY, JANUARY 1, 1907. 15 REVIEW OF THE REAL ESTATE MARKET FOR 1906 Greatest Era of Progress in the City's History Inaugurated During the Past Year Predictions of Most Optimistic MoreThan Realized Transactions More Than $5,000,000 Greater Than in 1905 PGR Portland realty, the year just passed has brought better condi tions than any preceding period, and realization of all and moro than was predicted for It by the most optim istic. In every way 1906 has been the banner year, as Is shown .by the (act that the average prices for holdings- of, every character and In all locations have risen one-third, and further that the volume of business, as offlclally recorded, gives a total more than $3,000,000 in excess of 1905, or any one of Its predecessors. An active market and rising prices are a reliable criterion of actual pros perity, which Is lasting If the move ment Itself is real, and -not simply based on Inflation, which must sooner or later givo way, allowing the situa tion to adjust itself to normal condi tions. That the active business and higher charges In Portland are founded on substantial grounds cannot be ques tioned, for the real reasons are patent to all. Prices in Portland are based on present returns from Investment. They have not encroached on future possibilities, although they might well " do so without Including the factor of speculation, for the growth, rapid de velopment , and business extension of Jhe city are guaranteed by actual con ditions. From first to last, the demand for Portland property during the past year has been sufficient to amount to an awakening to the real advantages which He open here for all who hive money to Invest. But it Is true that undervaluation Is still the keynote of the situation, and oiportunities for fully as great gains lie open now as "those which have been so general dur ing the past tew years, and which all liow see. The present Impetus 1-ad Its real beginning In the Lewis and Clark Kxposltion. Before that time prices had been advancing steadily, but slowly, since the panic of 1S93. Portland, al ways a conservative city, was slow to recovf.r- confidence In Itself after that catastrophe. Although business in creased to gigantic proportions, the realty market advanced very slowly. But the Fair brought here outsiders who saw the advantages which Port landers themselves were slow to com prehend. They began investing their money, and prices rose. Then Portland people saw more clearly that far better opportunities than were offered else where were to be had In their own city. Thus was Inaugurated the move ment which has been steadily grow ing ever since. Kailroud Building Factor. The building of the north-bank rail road and other increased transportation facilities, the locating here of the large packing companies, and the actual growth to immense proportions of the city's business, served as factors in bringing about the activity in real estate which was long overdue. The movement gained much strength dur ing the Fall of 1905. and the past year opened under the most favorable conditions ever known here. Through January, February, March and a por tion of April, sales of large magnitude continued to multiply, and prices rose accordingly. Then came the San Fran cisco disaster, which Had a depressing effect upon the local market and re sulted In making the total sales for the year much lower than they other wise would have been. Although a blow to the entire Pa cific Coast, the San Francisco disaster was recovered from In Portland In re markably short time. The tide of real estate speculation was too strong to be stayed, and during the Summer con ditions became normal again. In Summer realty Is always less active than during other seasons of the year, but last Summer showed a marked ad vance over the corresponding period In other years. Then came the Fall and Winter trading, which has been the most encouraging phase of the entire year. During the past four months there has been such a rush of business In both inside property and suburban realty as was never known here be fore. Deals Involving upwards of $100,000 each have been of almost dally occurrence, while several tranters reaching the $500,000 mark have been carried through. The greatest movement of the year has undoubtedly been in North Port land realty. This had its beginning In the extension of the terminal facilities to accommodate the new Hiil line. Purchasers have reasoned It out that the business section of the city Is to extend north and westward, and most of the Investments have been made and new building projected on this theory. As a consequence, Nortn Port land realty has risen in value during the year from 33 to 60 per cent. Un improved lots on Sixth, near Washing ton, are selling for $100,000, whereas a little more than one year ago they would not have brought more than $50,000. The same proportionate ad vance has occurred along this thor oughfare to Its terminus at the Union Depot. Fifth street has also experi enced large Increases in value, as have the cross-streets north of Washington, especially Burnside, on which a street railroad has been laid, and Oak. which is to be opened up and Improved with eeveral large office building.'. Largo Business District. But the upward movement has by no means been confined to the northern part of the city. Increased commerce lias necessitated the rapid extension of the business district, and. while a large portion of the trade is undoubt edly to go north of Washington street. It is certain that the movement is to have its effect also west and south. Upper Washington street has shown great signs of progress. Several pieces of realty in this district have changed hands as many as four times during the year, while the buildings constructed have found ready tenants. On Morrison and Yamhill streets and south on Third and Fourth there has been considerable activity, with every indication that it will continue. First street and the other thorough fares near the river have also caught the spirit of advancement, and the property is increasing in value, while the owners are preparing to effect great Improvement. In this section most of tho wholesale business of the city has been transacted, and property Is pay ing excellent rentals. Those interested there declare that the district will con tinue to more than hold its own, and, while the vast aggregate of business is causing extensions into other dis tricts, it Is the general opinion that First and Front-street property, be cause of its central location, its prox imity to water transportation, and its connection with the new Portland Salem electric line, will continue to show great Increases in value. The extension of the wholesale district has. In fact, been one of the features of the year. Nothing else would be neces sary to show the rapid strides which Portland jobbing firms are making than to glance at the numerous purchases which have been made by them of ware house sites. This movement has been felt In many localities. It has been very - prominent along the northern portions of Thirteenth, Fourteenth and Fifteenth streets, where more than a dozen sites have been sold, upon which large ware houses will be built, some of which are now under way. Adjoining the terminal yards on the south, several large com panies also recently bought warehouse sites, which are to be immediately im proved with large buildings. No review of this phase of the market would be complete without mentioning the movement in the warehouse district of East Portland. A number of the large firms, notably implement Jobbers, have been established near the river on the East Side for several years, but dur ing the . past 12 months the tendency in this direction has been more pronounced have, of course, been small sales, there has been a heavy demand for large tracts for platting purposes. More than 1100 acres on the Sandy road, involving nearly $600,000, has recently been purchased by a local syndicate. The entire area, in cluding upwards of 7000 lots, is now being platted for sale. This is one of the largest tracts ever handled for residence purposes in any city, and the fact that local conditions justify such a transac tion shows the rapidity with which Port land is growing. In addition to this deal the Knox-Abrams tract of S3 acres. In volving $100,000, and the Waverley-Kern tract, involving $150,000, have been pur chased by local companies for immediate ognlze that the offerings here are more desirable than elsewhere. That Portland property is still under valued is shown by the manner in which prices are now based. Practically every sale of improved realty is founded upon the actual return which the property is paying at the present time. Prices for unimproved property are calculated on the profits- which the sites would pay If improved at the present time. More over investors are getting from six to eight per cent and even more on their Investments. Such a situation is prac tically unheard of in a city whose busi ness and commerce is increasing at the rate they are here. As a rule when cities are growing rarv PORTLAND'S PROGRESS IN BUILDING SUMMARIZED Building progress In Portland's business district Is shown, perhaps better than In any other way, by it tabulated state ment of the structures actually tinder construction or contemplated. The activity In building has been very great dur ing the past year, but from all Indications, the movement will be still more extensive during 1907. Besides the build ings which have already been announced for erection during the coming year, there are doubtless many plans that will come to light during the next few months. The appended list shows more than 60 structures, varying In height from three to fifteen stories, which have been completed within the past six months, or are under construction or soon to be commenced: Important structures completed during past six months Lumber Exchange building, 5 stories. Second and Stark. Fliedner building, S stories. Tenth and . Washington. Lazarus building, 5 stories. Fourteenth and Washington. Tull Clbbs building. 6 stories. Seventh and Morrison.' Tilford building. 5 stories. Tenth and Morrison. Pacific Coast Biscuit Co., 4 stories. Sixth and Gllsan. Alnsworth building. 8 stories, Yamhill between Sixth and Seventh. Woodmen of the World temple, 4 stories Eleventh near Washington. Bushong building, 3 stories. Seventeenth and Washington. Buildings under construction Wells-Fargo building. 15 stories. Sixth and Oak. Corbett estate. 10 stories. Fifth and Morrison. Couch buUdlng. stories. Fourth between Washington and Stork. Swetiand building. 7 slorfes. Fifth and Washington. Buchanan buildlnjr. 7 stories, Washington near Fifth. FuSllnir building, 6 stories. Fifth and Alder. Masonic Temple, S stories. West Park and Yamhill, . " Dammeler building, 5 stories. Fifth and Oak. Mason & Ehrmun building. 5 stories. Fifth and Everett. Pratt building, S stories. Seventh and Jefferson. Shea building, 4 stories. Second and Ankeny. Jurgrnson building. 4 stories. Third and Maui. Mitchell. Lewis & Staver building, 4 stories. East Morrison and East Second. Troy Laundry. 4 .stories. Ninth and Flanders. Flelschner-Mayer building, 4 stories. First and Couch. Meier Frank building. 4 stories. Second and Jefferson. . Gadsby building, 4 stories. Thirteenth and Hoyt. Baker building, 8 stories. Eleventh and Washington. Giesey building, 6 stories. Park between Alder and Mor rison. Prhel-Hrgele building, 4 stories. Thirteenth and Hoyt. Brown building. 3 stories. Tenth and Morrison. Smith building, 3 stories. First and Morrison. Harrington building, 3 stories. Sixth and Davis. Royal Bakery, 3 stories. Eleventh and Everett. Wilson building, 8 stories. Fourth and Burnside. Schegel building, 8 stories, Everett. Gearin building. 3 stories. Thirteenth and Washington. Healy building, 3 stories. Grand and East Morrison. Markell building. 3 stories. Union and East Morrison. Portland General Electric Company, substation, 4 stories, Upper Albina. East Side Bank. 3 stories. East Washington and Grand avenue. Friede building, 4 stories. Fifth and Pine, Baldwin and Downing building, 6 stories. Park and Alder. Structures In Contemplation Russell Blyth. 15 stories. Seventh and Stark. Y'eon building. 10 to 12 stories. Fifth arid Alder. Board of Trade building. 11 stories. Fourth and Oak. Beck building. 10 stories. Seventh and Oak, Commercial Club, 8 stories. Fifth and Oak. Kinnear Syndicate building. 8 stories. Sixth between Wash ington and Stark. . Corbett building, 8 stories, Fifth and Ankeny. Yeon building, 7 stories. Seventh and Stark. Parker building, 7 stories. Fourth and Oak. Fenton building, 6 stories. Seventh and Ankeny. Rothchild building, 7 stories. Fourth and Washington. Hazelwood Cream Company. 4 stories. Fourth and Hoyt. Pelton building. 4 stories. Fourth and Glisan. - Cohn building, 6 stories. Eleventh and Washington. McClung & Weatherby Hotel, 6 stories, Ella near Wash- . . ington. Olds, Wortman King, warehouse, 4 stories. Fourth and Jefferson. Meier Frank annex, 8 stories. Sixth and Alder. Western Electric Company, warehouse, 4 stories, ' East Yamhill and East Third. Hotel Oregon annex. 6 stories. Seventh and Stark. Stickney lease building, 8 stories. Stark, Third to Fourth. than ever before. There is a large area of low land In this district which has every advantage for warehouse purposes, especially from a transportation stand point. In more cases fills of consider able extent are necessary, and this work has been rapidly going forward. The land thus being improved was considered of little value a few years ago but Is now demanding good prices and gives prom ts" of further Increase. So large and numerous have been the sales of busines property during the past year that a discussion of the individual transactions would require a volume. One deal which deserves special mention was the purchase of nearly the entire Lewis and Clark Exposition grounds by the Pqrtland Development Company. The consideration In this transaction was approximately $."00,000 and the deal was probably the most important of the year because of the significance attached to it The purchasing company, which is com posed of Seattle and Eastern capitalists who belleve In the future of Portland, bought this land for use as manufactur ing sites. They are now negotiating with Eastern firms and it Is almost certain that the vicinity of Guild's Lake will be converted Into a busy factory district. During the past year the Chamber of Commerce, eight stories high and occu pying a half block in the center of the city, has changed hands three times. It was first sold by the Columbia Invest ment Company to the United Railways Company, which sold it. together with Its other holdings, to C. 15. Loss & Com pany, of San Francisco. The latter firm disposed of it a few months ago to W. D. Hofius. of Seattle, the present owner. The building suffered a disastrous fire during the year, from the effects of which it is now undergoing repairs. The prop erty is valued at approximately $800,000. The sale of 13 blocks of property in the vicinity of Hood street in South Portland is also worthy of notice. 'The land was bought by the Willamette Valley Com pany from numerous individual pur chasers for $400,000. A portion of it is to serve as a private right of way for the line which the company is- now con structing into Portland from Salem, but the greater part is to be disposed of for warehouse purposes. As the road will offer the first direct outlet for freight from that section of the city, it is be lieved that a large warehouse section will be built up. . Throughout the entire business district, sales of from a single lot. or less, to a half block have been of frequent occur rence. . Of all these transfers, there has yet to "be recorded an instance in which the owner lost money. Many Investors have reaped largo profits and It has been done without the speculative ele ment entering into the situation to any appreciable extent. As an instance of the way profits are being reaped In Portland may be cited the operations of Charles Sweeny, of Spokane. During the past two years this capitalist, who looks upon Portland as offering the best opportunK ties of all Western cities, has purchased for approximately $1,000,000, property which would now readilyl bring him a profit of $500,000 if placed on the market Mr. Sweeny, however, has so great con fidence in Portland that he does not desire to sell any of his holdings, but in stead, is . constantly adding to them. The long land lease system of transac tions has been introduced in. Portland during the past year and promises , to become a popular way of handling prop erty. The Mallory property, a half-block on Stark, between Third and Fourth, has been leased for 30 years, and Is to be improved with an eight-story building. The Failing property at Fifth and Wash ington, and the Gearin property at Fourth and Washington, are other In stances of leases of this character re cently given. Options for long leases are now pending upon several of the most valuable holdings in the city. . As a rule realty activity begins with business property and gradually extends into the residence district. In Portland during the year the movement in resi dential districts has been one of the features. This is also based upon actual needs. The rapid growth of the city has necessitated hundreds of new dwellings and the builders have been purchasing in every direction. Especially noticeable has this movement been on the heights overlooking the city, where in some cases prices have advanced as much as 500 per cent. Portland, however. Is fa vored with more sightly residence ground than any other city on the Pacific Coast, and the homeseeker will always be able to find desirable lots at reasonable figures. , While the bulk of these transactions plattlpg. The latter piece showed a gain of $65,000 In one year. Extensive acreage on Council Crest has recently been placed on the market, be sides many smaller pieces, and taken al together the movement of residence land has been seldom exceeded in any city. Will Portland realty continue to ad vance? That is the important question, and it is answered affirmatively by every thinking man who has studied the local situation. "I care not in what part of thei city a man may buy." said one of the most .conservative dealers recently, "if he purchases at current prices he cannot but make money." Such is the view of those who know the situation best, as is conclusively shown by the fact that local capitalists are now plac ing all of their money here. These men have studied the situation in every city on the Coast and have- found that the best opportunities are at home. And what is more, outside capitalists now rec- ldly and ' trade gaining realty is valued. In part-at least, upon its future returns. This is now the rule In Seattle, and In side property in that city is selling 100 per cent higher than in Portland. At the same time it Is not paying rentals which will justify the prices. If the same methods of valuation wery applied here as in the Sound city property would be higher here than there, as the 'busi ness of Portland now exceeds that of any city north of San Francisco, and Is in creasing more rapidly than that of any other. Outside capital is now coming to Port land in great quantity, and with it is certain to come new conditions. Eight per cent, the prevalent rate of revenue now, is not received on realty In other cities, and prices must advance here. A conservative prediction, based on the actual situation, is that the average In crease in prices of one-third during the past year will be repeated during 1907. BIG REALTY DEALS OF PAST YEAR Transfers in Number and Amounts Involved Show Great Increase Break All Records LARGE transactions in inside proper ty were one of the most striking features of the realty market during the year 1906. There have "been far more large real estate transactions dur ing the past 12 months than in any pre vious year in the city's history. Since January 1, 1906, prices have been con stantly advancing in the business dis trict, as well as elsewhere, instead of causing a lull in the market, but this rise has been proportionately sur passed by the buying. A few years ago sales of realty, in volving $100,000 or more, were few and far between in Portland. During the past year, these large transfers have been comparatively numerous, while a number of single deals have involved as high as $500,000; even more in a few instances. So rapid has been the buy ing that sales for less than $50,000 have attracted only passing notice. Throughout the year, dealers found much less difficulty in securing buyers than in listing desirable property to SEWERS LAID IN 100!. There are now laid In Portland approximately 151 miles of sewers of all sir.es. Of this amount, between 12 and 13 miles were laid during the past year, including 45 separate sew- . ers. A tabulation of the sewers laid during 1006 by diameter and lineal feet follows: Diameter. XineatlDlamrter, Lineal Inches. Feet.ilnrhrs. Feet. Circular Terra cotta pipe. 62 847(24 1,293 66 630(22 746 Oval 20 1.6S9 89x68 2,14718 2,496 06x54 1, MIS 16 1,592 88x59 ...... M'-'S 14 6,422 54x81 1.822ii 8,546 49x73 ... 1.870 1 12.137 4XH ........ 16,671 40xO 490 6 640 9x44 474 Total for year 68,281 , Total now laid.... 801,513 sell. Prosperity has been so general that property-owners In very few cases have been pressed for cash, and there fore have had no reason to sell unless they could get their own price for their holdings. There is probably not a piece of property in Portland that could not be sold for an advance over what it would have brought a year ago, yet the offerings even at a large advance are comparatively few. Owners realize that they are doing well when they have their capital Invested in Portland realty, producing a good revenue and with the "unearned increment" con stantly accruing. There is little evidence of the spirit of speculation in Portland. Capitalists are not buying here in the hope of sell ing the next morning at an increase of 2i per cent or more, with no thought of the ultimate owner to whom the property will be worth just such an amount as it will pay Interest on, and no more." In most cases, the buying is done here by men who are making per manent Investments. Nevertheless, the capitalists who are turning their money rapidly here are reaping a golden bar vest. A few of the notable sales of the year, although by no means all of them, are shown In the following list, which gives an idea of prevailing values: January. Pacific Coast Syrup Company bought block bounded by York, Roosevelt, Blacklstone and Twenty-second street, from local syndi cate. 130,000. Swift & Co. acquire between 2000 and 3000 acres on the peninsula upon which to es tablish large abattoir. H. Wemme bought Seamen's Home, Third and Davis streets, for $65,000, and sold It for $70,000. Misses Falling and others bought fine Ard more resident lots, $75,000. February. United Railways Company bought Cham ber of Commerce from Columbia Invest ment Company, for $700,000. Northern Pacific Terminal Company bought blocks 219 and IDS. bounded by Ninth, Marshall, Overton streets and the terminal yards, for $150,000. D. C. Pelton bought from George W. Bates, southwest corner Eleventh and Burn side streets for $40,000. Francis Y. Masten bought from George B. Van Waters, half block on Overton, Twelfth to Thirteenth, $40,000. Mrs. Mollie Stanford bought Barber block. Grand avenue and East Washington street from Edward Holman for $::O,0OO, and sold it to Clark Taber and J. 11. Ililliard for $33,000. Northern Pacific Terminal Company bought 220 acres near Guild's Lake. J. B. Yeon bought half block on Oak. Park to Seventh, from S. Morton Cohn for $135,000; quarter block, southeast corner Seventh and Stark from A. B. Steinbach for $125,000; with others, lot on Sixth street, between Washington and Stark from Beck estate for S75.000. Oregon Hotel bought lot on Park "be tween Stark and Oak for $30,000. H. Wemme-sold quarter block, northeast corner Twelfth and Alder streets. $50,000. Russell & Blyth bought from Mrs. M. M. Gearin. 121x02. northwest corner eleventh and Stark streets, $45,000. . i Malarkey, Daly and Slnnott sold quarter block. Grand avenue and East Morrison street, $41,000. March. Portland Seattle Railway bought block at Fifteenth and Thurman streets from Mitchell, Lewis & Staver for $150,000, and the latter company bought half block at East Seventh and East Morrison streets. United Railways bought of Dolph estate .300 acres opposite St. Johns for $00,000. F. W. Leadbetter bought from H. C. Leonard two-third interest in East Morrison-street waterfront for $40,000. Alnsworth estate sold quarter block at southeast corner Fourth and Pine streets for $100,000. B. M. Lombard bought from George T. Meyers quarter block, southwest corner Fourth and Salmon streets, for $50,000. Portland Development Company bou;it large portion of Lewis and Clark Exposition grounds for $500,000. April. ' . Meier & Frank bought from Hawthorne estate quarter block. Second and Jefferson streets, $30,000. Syndicates bought Council Crest tracts for $125,000. H. Wemme bought from Dr. C. W. Cor nelius quarter block. First and MadiBon streets, 875.000. Eastern capitalists bought from Smith es- J ANGLO-AMERICAN OIL & COAL CO. LOUIS G. CLARKE , President President and Manager Woodar. Clarke & Co., Chemists and Druggists. - H. l PITTOCK First Vice-President Publisher Daily Oregonian. FRED s. STANLEY... Second Vice-President . Des Chutes Irrigation and Power Co. D. W. WAKEFIELD... Third Vice-President Wakefield, Fries & Co. GEOHGE 11. HILL. . Secretary nnd Treasurer Vice-President Title Guarantee and Trust Co. E. J. RATH HO n. Field Superintendent, Katalla, Aluskn. Formerly Superintendent of Water Lines of the O. R. & N. Co. 403 OREGONIAN BUILDING. PORTLAND, OREGON The Anglo-American Oil and Coal Company OWNS OVER 11,300 ACRES Of the choicest oil land locations on Bering River, Bering-Lake, Katalla Bay aud Controller Bay, Alaska, in the heart' of the fabulously rich BERING RIVER COAL AND OIL FIELDS Some of our holdings are at tidewater on Katalla Bay; other holdings will be reached by the railroad of the Guggeuheims and J. P. Morgan, who spent the past season in mak ing surveys and perfecting their held organization and plans; who have recently floated TEN ' MILLION DOLLARS of their bonds in New York, and who have purchased a large amount of land for TERMINAL FACILITIES AT KATALLA On Controller Bay; the point where their connection with salt water Nvill be made. From Katalla the railroad will take a northerly course through the Katalla Valley, up Shepherd Creek, and pass on the west side of Charlotte Lake, right through the heart of the Great Bering Coal Fields and of the Katalla and Kyak oil region, passing directly over a portion of the holdings of the Anglo-American Oil and Coal Company. Several thousand acres of our land adjoins the lands of the millionaire Cudahy peo ple, and other of our lands adjoin-those of the English syndicate owners of the famous big gusher, which threw an 8-inch stream of oil 110 feet in the air for three days before it could be capped whereby stock in the company jumped from 16 cents to $10 a share over night thus showing an instant profit of 6212" for one. MILLIONS IN COAL We are in the very midst of the richest coal fields on earth coal fields that will, in a few years, produce millions of dollars' worth of the best grade of anthracite .and semi bifuminous coking coal. , Read the following brief extract from the report of Professor George C. Martin, who, with a large force of men, spent several years in this wonderfully rich oil and coal region as geological expert for the United States Government: "The Bering River coal field covers. an area of about 70 square miles, including 25 miles of anthracite and 45 miles , of semi-anthracite or semi-bituminous coking coal. The seams are numerous and very large; several exceed 20 feet in thickness. The average qual ity of the Bering River coal is excellent, several of the seams being remarkably low in both ash and sulphur. ' Bering River coal is not now available for sale in any market, but there are prospects that transportation will soon'be provided to tidewater on Controller Bay, Katalla'Bay and Prince William Sound. It ought to be put into the San Francisco and other Pacific Coast markets at a cost far below that of Eastern coal, in which case itshould have no difficulty in entirely supplanting the latter. . . . These coals are the equivalent of the Pocahontas, New River and Georges Creek coals of the East, and ara eminently adapted for use on warships and other purposes for which a high-grade, ,pure, smokeless steaming coal is required,' and for these purposes will command a considerably higher price than any coal now being mined on the Pacific Coast." (Report of Professor G. C. Martin, Bulletin No. 2S4, page's 20-26, U. S. Geological Survey.) NOTE: Since this report was file d Katalla has been selected as th e terminus as stated above. ENORMOUS INCREASE IN LAND VALUES Mr. Clark Davis, field manager of the Alaska Petroleum and Coal Company, just down from Katalla and recently in Portland, says: "All land about Katalla has increased in value since the railroad company decided to build that way, and when I left, a big sawmill was under construction by the railroad interests. An immense breakwater will be built after the road is laid, so by the time the smelter is in operation and ready for the copper ore, Katalla will be a first-class city and the source of the world's two greatest commodities coal and oil. "With the new road building and plans being drawn for extensive smelter and coke ovens by the Guggenheim copper interests, Katalla will soon be heard from in a most sub- etantial way. ' "The oil which this wonderful region produces has a paraffin base and shows 37V& per cent of light oils. "There is sufficient natural seepage on two claims in the Keuchawak district," said Mr. Davis, "to furnish a town of 300 inhabitants with all the fuel and lights they could consume this without a pipe ever being driven into the surface of the ground. It is so rich in paraffin that one can scrape it off the rocks." i The Anglo-American Oil and Coal Company will energetically push work on its hold ings early in the coming Spring, and is now arranging for costly machinery and other equipment. Captain E. J. Rathbone will personally supervise field operations. This Company now offers to investors the opportunity of a lifetime for making big money on a comparatively small outlay. The capital stock of the Anglo-American Oil and Coal Company is fully paid and nonassessable. There is no preferred stock. Every share stands on a perfect equality with every other share. All shareholders have equal rights, whether their holdings are large or small. The well-known business men whose names head this Company have invested their .money in the enterprise. The allotment of treasury stock now offered for sale will soon be exhausted and the PRICE OF STOCK WILL SOON BE ADVANCED This enterprise is worthy of your attention. Fullest investigation invited. Samples of Bering River Coal, Government Maps, reports and other data may be seen at the office of the ANGLO-AMERICAN OIL 6 COAL CO. 403 Oregonian Building, Portland, Oregon tate southeast corner Second and Yamhill streets, oOxtKi, for $42,000. A. B. Kteinbach bought from Dr. E. H. Parker, Hotel Eaton for $135,000. Beth Riggs bought from Scott Brooke northwest corner First 'and Pine streets for $40,000. .Central Investment Company nought from Loewensam Bros, northwest corner Fourth and Taylor streets for $40,000. . May. Syndicate bought from Amos M. Roberts 55 acres on Peninsula for $47,600. Ainswovth estate sold to Mr. Campbell, half block on Lovejoy, Thirteenth to Four teenth. $40,000. Mason. Ehrman Co. bought of Lewis estate quarter block at Fifth and Everett streets for $35,000. - " E. A. Baldwin bought of Ladd estate Brown Hotel for $00,000. June. ' E. R. Richardson sold Harmon warehouse for $85,000. Thomas Papworth bought lot. First street, between Alder and Washington, for $50,000. J. 13. Veon bought T. G. Nealond tract on Nicolal street for $110,000; also from Stan dard Box Company block bounded by East Ash, East Pine, East Water and the Wil lamette, for $50,000. D. C. Pelton and C. K. Henry bought from the Willamette Iron & Steel Works, block bounded by Hoyt. Gllsan, Third and Fourth streets, for. $125,000. , July.. Otto Schumann bought of H. J. Hefty lot at First and Alder streets, for $35,000. Frank Kiernan sold southeast corner of Second and Yamhill streets for $50,000. Thomas Papworth bought from R. B. Lamson lot on First street, between Oak and Pine, for $30,000. Emma Brown bought from J. B. Teon quarter block at northwest corner Elev enth and Salmon streets, for $33,000. August. E. A. Baldwin bought the Hettshu place. Twentieth and Lovejoy streets, for $34,000. H. W. Goode and Scott Brooke bought from Wells-Fargo & Co., quarter block, southeast corner Fifth and Yamhill street, for $85,000. J. E. Blazler sold First and Stark streets for $4S,000. September. ' W. D." Hoflus bought from ' C. E. Loss & Co. Chamber of Commerce for $S0O,000. Louis Gerllnger bought from Mrs. Ger trude Russell, Rainier block. Twentieth aud Washington streets, for $40,000. Willamette Valley Company bought 13 blocks In South Portland. H. W. Lemcke A Co. bought from Joseph llealy, Waverly-Kern tract, for $150,000. H. Wemme bought half block. Seventh street. Burnside to Couch, for $lO0.OOO.' II. L. Colvln bought from Willamette Iron & Steel works, lot at southwest corner Fourth and Glisan streets, for $40,000. Louis Gerllnger bought from H. G. Colton southwest corner Second and Alder street, 25x75 feet, for $40,000. October. Charles Sweeny bought from Walter Bur rell. Dekum annex, for $150,000. S. Morton Cohn bought from M. A. Gunst quarter block at Eleventh and Washington streets, for $115,000. E. E. Lytle bought from Woodard and Gilbert quarter block at Thirteenth and Morrison -streets, for $rf0,000. Overlook Land Company bought from J." E. Haseltlne Knox-Abrams - tract, 83 acres, for $100,000. Board of Trade Building ' Association bought from Dr. E. H. Parker quarter block southeast corner Fourth and Oak streets on 30-year lease-purchase. Dr. E. H. Parker bought from Mrs. Levi White quarter block southwest corner Fourth and Oak streets, for $100,000. Dr. C. W.. Cornelius bought from L. Jag ger lot at northeast corner Park and Alder streets for $50,000. J. F. Daly and J. Frledenthal bought of Ladd estate quarter block East Morrison and Union avenue, for $35,000. ; Welnhard estate bought of Caroline C. Gllsan northeast corner Twelfth and Burn side streets, 53x100. for $40,000. George F. Rogers bought of 8. Morton Cohn quarter block northeast corner Thir teenth and Washington street, for $100,000. Hazelwood Cream Company bought from C. K. Henry half block, Hoyt street. Third to Fourth, for $60,000. J. H. McNIcholas bought of J. H. Mc Clung. Golden West Hotel, for $45,000. Russell & Blyth bought of L, H. Lewis quarter block northwest corner Sixth and Burnside streets, for $100,000. Lowensson Bros, bought from Breyman and Kommervllle northeast corner Beventh and Flanders streets, for $50.OO0. King estate sold 11 lots In block bounded by Washington, Yamhill, Ella and Stout streets, for $70,000. November. C. K. Henry bought from Daniel Kunkel quarter block at southeast corner First and Salmon streets for $70,000. W. H. Markell bought from Malarkey, Daly and Slnnott. quarter block at south east corner of Union avenue and East Mor rison street for $40,0O0. J. D. Hart and K. B. Lamson sold quar ter block at southwest corner Sixth and Flanders for $00,000. Friede. Durkhelmer and Clossett bought of Mrs. I,oulse Houston lot eoutbwost corner First and Morrison streets for $101.00O. A. C. Pike bought from local syndicate quarter block northeast corner Third and Couch streets for $05,000. A. H. Birrell. Robert Livingston and others bought from John Matthiesen half block. Front street, Madison to Jefferson. $150,000. Hartman & Thompson and others bought lloo acres on Sandy Koad for $600,000. M. J. Clohessy and others bought from P. P. Dabney and I. W. Balrd, 62 acres near Fulton Park, for $40,000. Frank E. Dooly bought from R. B. Lam son the Cascade Hotel for $'.15,000. J. M. Lelter and L. C. Palmer bought of Scott Brooke quarter block at Fifth and Burnside. $70,000. R. M. Kinnear and others bought of local syndicate lot on K.xth between Washington and Stark, $100,000. H. W. Monnastes and A. F. Wheeler bought of R. W. Lewis quarter block. Sixth and Flanders, $60,000. December. Daniel Kunkel bought of Henry Wulf. building. Mississippi avenue and Russell street, $70,000. Churchill Bros, bought of Philip Buehner 724 lots near Woodstock. $40,000. Beno & Ballls find E. J. Daly bought of Security Savings & Trust Co. quarter block. Sixth and Johnson. $00,000. Robert McCraken bought of Louis Ger llnger. quarter block. Twentieth and Wash ington, $43,000. South Portland Investment Co. bought of Terwilliger Land Co. 76 acres, $150,000. Dan J. Malarkey and Roger Slnnott bought of F. W. Leadbetter Irregular piece. Sixteenth and Washington: $45,000. American Trust & Investment Co. bought of J. W. Cruthers. Commercial Hotel, $100, 000. Rosenbaum St Lowcngardt bought of 8. T. Lock wood, lot on Sixth, between Pine and Oak, $75,000. Frank Baker bought of George Harker lot on First street near Yamhill, $75,000. O'Shea Bros, bought of Ladd estate. Olds, Wortman & King quarter block. Fifth and Washington. $350,000. S. Morton Cohn and others bought of Belasco & Mayer, Hetlig Theater. $110,000. Eastern capitalists bought of May Land Company, Troutdale stocky ax da, $05,000.