THE 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.