Morning Oregonian. (Portland, Or.) 1861-1937, February 04, 1911, Section Five, Image 94

Morning Oregonian., February 04, 1911, Section Five, Page 14, Image 94

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Newspaper Page TextVAST FORTUNES ARE BEING MADE BY INVESTMENT IN PORTLAND LOTS Real Estate Values Are Conservative and Based on Actual Returns Very Frequent. -Large Transactions Are IN.MC'E rortUnd rl tat. which f'.rsl Iwrnma rcoitn!zd t nr whcr. It. tru- .lue aa ''n'" n-tmnl In th. Iwl fur rear of 1J05. and haa rrown at.ad ,Iy B worth with .ry y.r . nc. rM'h.d a standard of rrlc. In 110. whlrh w nttrrlr Bfortwn oiUr few brt.X y.ar. ago. .xcrt by the inost f.r-.UHted. fcv.n at th. current fl urr. at which buMn.sa property l bld. own.r,. dealer. and Investor, who ha Im-sttgatei th. situAtlon in other clt:. comparable to rortna. d in th. opinion th.t nowher. . U can opportunities for Investment eombln. Ur. Incom. return, with .uch certainty of rapM rP"cl in fact. ln.id. re.uy In Portl.nd che.p conP.red with price. In other '"iTMlnff operation. l.t year .howed mor. pcUlve.y than ever before Rvr th. pUc. of r.Ue. of th. v..t m.iorlty of It. Inhabitant, and to cen ter retail and wholesale bu.lne.. on Z W Me. On the K-t d. . conquerable retail Mi.lne.. district on f.rand and Vnlon avenues. ,een Vast Hurn.l-le street and Haw thorn, avenue, white numerou. f.c rl.. and warehouse, have between Union jv- -d te Thl. ha. created an "' ,c where real estate values have advanced "on 'ti". West i e "" nI! ha, exten.ied north, south, and " I. an aslom that M rrowln city that on. U-r. bulMI.. beKet. others. ..! Uat every Important new bull.lln enhance, the value of surrounding real estate. If cause of " natural barrier cf the hl l. to the west, many Investors hold th.t th. movement of business In th.t direction must eventually stop, and th.t nil Und to th. edge of the WUs must be regarded a. In.Mo Property. It . .itnlnot that virtually .very dwelling; torn down on t-. est Mde 1, being replaced by business . ruc tur. or an ap-rtment-hou.e. . of re.ld.nce. close In on th. West Md. Is at n end. IIM.ier, of property aln the street, nearer the river on th. we.t .Mde point to the home bul!d;n movement east or th. river as evidence that there must h- readiustment that will cause a re turn of much business to First. Second. Third and Tourth streets, wher. It will b. mo.l quickly reached by crowds of buyer, from the East Side. They fore see a large building movement here with consequent further Incre.s. of property values. Many hoM'r. of Inside Tortland realty .how their confidence In It. fu tur. by refuslu to place a prlr. on tselr property or to consider selllns: at all. Soma of these h leased their ro.ind to builder, at large rental, thu. 1r!v1r,T nood-slsrd Income and at th. ..:- time not losing the Increment. Msny sales of InslM. property wer. ma le last year, and In .very cas. tho price .howed a large advanc. ov.r pre vlou. valuer A typical eampl of tb. rapid appreciation of Portland real e tte was afTorded by th. ! In I1 cemher of a lot SO by 1 feet at th. northwest corner of Park and Morrt.oti rreet. by a ndlcat. headed by M. W. Hurt to Rv. Herbert Spen-er Johnson, of Bo.ton. for JZlO.noo. This prtce wa. an advanc. of almost 1000 p.r cent over th. ralo of th. property nln. year. ro. A ll-tory building will b. rct d on the corner this year. This property h formerly owned by Ferdinand Zeltner and Ms wife, who lived there an.1 conducted a florlt . establishment for many years. They derided to retire In l01 and placed th. property on the market. It wa. bought by U Oerlln.er for :i.000 and alter holding for two yar be placed It on the market at 11S.000. He tried vainly for several months to sell and finally dlspo.ed of th. plec. to S. B. ll'tston for IJ4.W0D. Mr. Huston also held for two ve- and .old In 13i to If. M fake for 10.000. having mad. a profit of $1000 a month for every month h. held In addition to Interest and taxes. Mr Cake Improved the property with a one-story brick store building and held It until April. 10. when ho .old to l. W. Hunt and others for $150,000. tak'nr a mortnaite for .35.000 and th. balance cash. In selllns; to Mr. Johnson at $10 0o. Mr. Hunt and his a.soclate. made a profit of about 100 per cent on tie actual cah Invented, havlnc held the property 20 months. Thl. hi not an Isolated case. Doien. of .uch mlsht b. cited, for Portl.nd real estate ha. made, many men wealthy In the la.t few year.. Sine, all .tudent. of condition, are united in predicting thst Vortland will again double In population in th. next de cade, th. futur. off.r. even greater opportunities. Tortland real estate transfer, record ed In 11 amounted to $30.0.00. a. again. t $:.4SS.: n 10. Some large transfers) figured scarcely at aU In the record, one .xampl. being th. aal. of $3,000,000 worth of terminal property In North Portland to th. Harrlman railroad system, merely nominal con sideration being given In th. deeds. Thl. property was bought up from th. Individual owner, by Charle. K. Henry, who paid with hi. personal check. . There wa. much .peculation as to tb. x Identity of th. real purchaser, but It wa. kept a close secret nntll month, after th. purchase, had b..n completed. In a number of other con.lder.bl. deal. th. prtc. wa. announced as nom inal. Following la a rartlal list of .ale. of Inalde real estate last year. In tb. neighborhood of $50,000 and over: W. K. Smith and other, to tho Ore gon Electric Railway Company, thre. blocks ea.t of Water .treet and be tween Clay and Montgomery street.. Con.lderatlcn. $1SO.OO. Th. railway company will develop th. property a. a terminal site. I. H. IJUy to Henrv W. Fries, full loch between Tsvlor. Salmon and Front .treets and the Willamette lUver. Con .ideratton. lioO.OO. First Oerman Evengellcat Reformed C hurch to J. Frtedenthal and M. lllrsch. an Irregular-ehaped plec wntalnlng a lot and a half, at the northeaet comer rt Tenth and Stark. Consideration. $l4.000. Tb. owner, have Just com pleted a four-.tory brick hotel on toe property. F. J. rTy and associate, to J. TL tVhltney. 10 by loo feet at the south west corner or Twelfth and Stark. Con sideration, $J.00. A four-story brick hotel baa Just been completed by th. owner en th. tot. Clark Undsley to II. J. Hefty. SO by 100 feet on th. we.t aide of Twelfth, near Stark. Consideration. $43,000. Mr. Hefty ha. completed erection of a four .tory hotel on the lot. I R Menefe. to Timothy J. Kinney. B wealthy sheepowcer and banker of Rock Springs. Wr 100 by 100 feet, at tne .outhweat corner of Twelfth and Washington . tracts. Consideration. $?00.00". Mr. Menefee had purchased the property a .hort time previously for $i;.o0. and a month after the sale to Mr. Kinney he waa offered $325,000 for It. The new owner will erect a Llgh-class modern building. J. B. Yeon to 8. Benson, half block tn south side of Oek. between Seventh and Park. Consideration. $:SO.00O. Portland Roard of Education to 8. Benson, full block, bounded by Seven teenth. Eighteenth. Couch and tavl. streets. Consideration. $124,000. This block wa. bought by th. board th. year before for $100,000. when there wa. con atderabl. criticism because of tb. price paid. Jacob Kamm to Portland Board of Education. full block bounded by Seventh. Park. Mill and Market street.. Consideration. $113,000. Th. new Lin coln High School will be built on this block thl. year at a cost of $500,000. Georg. U. Williams estate to Mrs. Mary J. Gratton. full block, bounded by Eighteenth. Nineteenth. Couch and Davie street.. Consideration, $110,000. Couch estate to E. J. Daly. 100x100 feet, at northwest comer of Nineteenth of Main .treet. between West Park and Tenth. Consideration. $0.000. :t V. Hunt to Clara E. Morey. lOOx 100 'feet at northea.t corner of Park and Salmon .treet.. Consideration. ,SIvr?r' Johnson to R. H. Walker. BOx 100 feet at the northeast corner or Park and Taylor .treeta. Considera tion. $55,000. Arlington Building Association to D. P. Thompson estate. 100x100 feet at th. northwest corner of West Park arid Alder .treets. Con.lderaUon. $170,000. William Wurxweller to Henry Wag ner. 60x100 feet at th. northwest cor ner of Fourteenth and Alder .treeta. Consideration. $75,000. Mount Hood Railway Company to William Reld. block 1 and all of block 2 except lots 4 and 5, on the East Sid. waterfront between East Oak and East Washington atr.eta. Consideration. $550,000. ' - Ch.rle. E. Smith to August Berg, 50 xlOO feet on the east side of East Third street, near East Burnslde. Considera tion. $5.000. pammeler Investment Company to A. WATERMAINS LAID DURING 1910 COST $627,510. Incontrovertible evidence of rapid growth of Portland. Pecls.l y during th. past five years. Is contained In the record, of' . city water department. Strenuous mea.ure. have had to be adopted by this department to keep pace with th. evcr-lncrea.lng demands for water main extensions. Especially wa. this tru. during "-r,' 0.J-'2! linear feet, equal to 5S.87 mile., of new main, were laid, bringing the, total mlleag. to 15J.S14. Th. following tables give , detail th. work performed during 1910. and that recommended for 1911. 110. Four-Inch mains laid, feet Six-Inch mains laid, fret Eight-Inch mains laid, feet Ten-Inch mains Uld. feet Twelve-Inch mains laid, feet pixteen-lnch mains lld Total mains laid (5.7 mllcni. feet...... Total main, rdald with larger slr.ei of pipe, miles Net increase In mileage during year Tola! rout of new miurve Expanded for alterations and repairs Extension, considered absolutely necr.sarv. mile. J J Total extensions considered advisable, mile. M .( Kuti-nated com of such rxtotHilons Work commenced during 10 and to be finished thl. year, m. ..34 Estimated cost of work to be computed.. S4..j.t- 7.93H.A0 . 19,449.00 . 241.03. 00 514.00 . 24.Rt4.00 ,45.00 . 300.30S.00 11.777 45.099 .$!27.510.O .$13g,U64.00 and Washington streets. Considera tion 1 100.0110. Irnlde Investment Company to Fred A. Jacobs, looxl oo feet, at northwest corner of Seventh and Yamhill streets. , Consideration. $:no.o0. Th. Inside In vestment Company Is composed of H. W. Wells. K F. Allen. Walter H. Moor.. J. C. Cartwright and J. R- I-aler. They bought the property In 10 for 1130. 000. Associate Investment Company to I. T.oweng.rt. Irregular .haped piece at Fourteenth. Washington and Rurn.ldo .treets. comprllng about half a block. Consideration. $140. . An eight-story reinforced concrete hot-l building I. now being built on th. property by th. owner. ItothrhUd estate to Herman Burke and J. JUak. Irregular shaped piece on Iiurnslde. Seventh and Park streets, with 200 feet frontage on south sld. of Burnslde. Consideration. $7M00. A six-story reinforced concrete building lias Just been completed on th. ground. Ijdd e.tat. to Seven Oak. Inve.t ment Company. 100x100 feet, at the northeast corner of Seventh and Oak treeta Consideration. $175,000. Receiver of Title guarantee St Trust Company to A. II. Maegly and Ah. Tlch ner. 65x12$ feet, at southeast corner of Seventh and Alder street.. Considera tion. $200,000. The buyers refused $300,000 for the corner within six months, and a six-story reinforced concrete building- 1. now being com pleted by them. R. Hagedorn to Dr. George Tarrlsh. 50x100 feet, at the northeast comer of Seventh and ISlisan streets. Consid eration. $5.00. Mr. Hagedorn pur chased tho property from E. J. Ialy four years ago for $21,000. W. U. Morgan to Realty Associates. 90x100 feet, and four-story brick build ing, at eouthwe.t corner f Grand ave nue and Ea.t Stark .treet. Consid eration. $100,000. Ulumauer estate to A. I. Parkhur.t. 100x100 feet, at southwest corner of Sixteenth and Morrison street. Con sideration. $55,000. Ian J. Malarkey and associate, to Park Investment Company. 100x100 feet, at the northwest corner of Six teenth and Morrison streets. Consid eration. $52,000. The Malarkey syndi cate bought the quarter block th. year before from E. J. Daly for $32,000. Ellen Murphy lo L II. Menefee. lOOx 100 feet, at northwest corner of Fourth and Taylor streets, except 32x5 feel fronting on Fourth. Consideration, $112,800. Maria A. Smith to J. II. Peterson. 60x 100 feet, on west aide of Third itreet, between Washington and Stark. Con sideration. $123,000. Peter W. Sever.on to M. Q. Thor.en. 60x100 feet, at northeast corner of Fifth and Morrison. Consideration, $250,000. Mr. Sever.on acquired the property many year, ago for a week-, board and an oloT-ahotgun. Borle. e.tat. to Henry Roberta, 60x 100 feet, on ea.t aid. of Fifth .treet, b.tw.en Morrison and Alder. Consid eration, $165,000. x Q. Lowengart and M. Ro.enbaum to II. W. UrunwaldU 6vxS0 feet, on th. ea.t .Id. of Sixth .treet. between Oak and Pin. Consideration. $2.000. Thl. lot wa. owned by a Hebrew congrega tion and wa. known a. th. old .yna ' gosru. property. T. Break, to Oeorg. H. Kelly. 76x100 feet, on th. wast .Id. of Park street north of Stark. Consideration. $100,000. Mary L. Steel to H- Rollins and syn dicate, 100x100 feet, at th. southwest corner of Sixth and Madison . treats. Consideration, $65,000. Ahbl. H. Spranger to II. it. Leffert. 60x76 feet, at the northeast corner of Seventh and Salmon .treeta. Con.ld eraUon. $57,500. A. F. Smith to Fred A. Jacob. lOOx 100 feet, at th. northea.t. corner of Sixth and Main street. Consideration. $77,500. J. M. Letter and L. C. Palmer to A. C. Ruby, soxtoo feet, at the southeast corner of Fifth and Burnslde streets. Consideration, $110,000. Messrs. Letter and Palmer bought thl. plec. two month, previously ftom T. Scott Brook, for $70,000. J. H. Letter and associate, to th. Crane Company, half block on the north aide of Irving .treet, between Thirteenth and Fourteenth. Considera tion. $50,000. The .slier. In thl. deal bought th. property only a .hort tim. before for $40,000. J. M. Letter. I. O. Davidson and Dab ney 4k Dabney to Winter. Bros., of Aberdeen. Wash., 60x90 feet, at th. northeast corner of Grand avenue and East Washington street. Considera tion, $45,009. This lot wa. bought to day. before for $J7.000. and 60 day. after they bad purchased it Winter. Bros, were offered $55,000 for It. A. 6 Ellis to Jaeger Bros.. Stanley Apartment, at th. northwest corner of King and Washington atr.eta Con sideration. $SS.0ft0. William M. Ladd to Henry Ladd Cor bet t. 100x200 feet on the south .Ida McCalmsn, 14-30 of the quarter block at tho northwest corner of Fourth and Everett streets. Consideration. $60,500; C. A. Malarkey to S. Morton Cohn. 100x100 feet at tho northwest corner of Sixth and Couch street.. Considera tion. $!0.000. Ralph W. Iloyt and associate to T F. Weaver, 100x100 feet at the south west corner of East First and East Morrison streets. Consideration. $50,000. II. ;. Thorsen to Mary M. Gillette, half block on the north side of East Salmon street, between East Second and East Third streets. Consideration. $45,000. George TS .Jacob, to E. Henry Wem me. half block on the north aide of East Flanders street, between East Third .treet and I'nlon avenue. Con sideration. $100,000. Clark Taber to H. Winters. 50 by 100 feet at the northeast corner of East Washington street and Grand avenue. Consideration. $50,000. Frieda Iwla to A. Marks. 90 by 100 feet at th. southeast corner of Grand avenue and East Ash street. Considera tion. $50,000. M. Pallay to S. Morton Cohn. h.lf Mock on th. we.t side of East Seventh street between East Yamhill and East Tavlor. Consideration. $0,000. While It can scarcely be regarded In tho light of a deal In Inside realty, th. purchas. from the Portland Railway, Light & Tower Company by G. W. Bren ner. J. T. Stoddard. C. A. Doty and W. B. Coffman of Hayden". Island, which lie. In the Columbia River Just off tho Oregon shore. Is of great Interest be cause of the purpose of the purchasers to establish grain elevators and manu facturing plants there. The island is directly oppo.lt. th. new industrial center on th. Peninsula, wher. tho Swift parking plant has been estab lished. The purchase price of. the Isl and was said to b $:00.000. CKO. F. HEL'SNER. President. JAMKS B. KKKR. Vlce-Presldsnt. J. V. BURKE. Cashier. f Bank'Kenton Capital Stock 930,000 ladlvtded Profit. SSOO PORTLAND, OR. Th. only bank located adjacent to th. Union Stockyards. St. Johns Water Works and Lighting Co. . P. A. EDLEFSEN. Manager St. Johns. Or. Field & Wise TIMBER LAMH BOIGHT ASD SOLD Estimates Carefully Made Government Locations Bit CoweSi Bldg, Portland, Or. Office, A 493 Residence, C 12S9 LMAMI as DCINN CO. (IN CANADA) CANADIAN LEONARD CONSTRUCTION CO., Ltd. PORTLAND CHICAGO TORONTO npeersand A 1 Jl JL wnerai Mmirauurs FOR OFFICE BUILDINGS, HOTELS WAREHOUSES, DEPOTS BRIDGES, MANUFACTURING PLANTS POWER HOUSES BUILDERS OF FLAT SLAB CONSTRUCTION REINFORCED CONCRETE A SPECIALTY WE CAN SHOW - Largest Savings Highest Class Workmanship Fastest Time In the Execution of Our Contracts IF YOU CONTEMPLATE BUILDING LET US OFFER OUR ESTIMATES Portland Buildings Being Erected by Us THE MULTNOMAH HOTEL JOHN DEERE PLOW CO. WAREHOUSE Balfour, Guthrie & Co. PORTLAND, OREGON Importers and Dealers in Grain Bags, Burlaps, Twines, Chemicals, Fire Brick, Etc., and American and English Tin Plate. EXPORTERS OF WHEAT, FLOUR, ETC. Agent for British and Foreign Marine Insurance Co. Balfour, Guthrie & Co., San Francisco, Tacoma, Seattle and Vancouver, B. C. Balfour, Williamson & Co., Liverpool, London and New York. Williamson, Balfour & Co., Valparaiso, Chile. UNION BRIDGE CONSTRUCTION CO. CONTRACTING ENGINEERS i Wood Water Pipe Made of Oregon Fir Machine Banded Continuous Stave PORTLAND WOOD PIPE CO. 24th and York Sts. Phone Main 34S3. F. 0. Box 71. Portland, Or. - ; . - - - M- pm I, S. STEWART. Prssldent. T.KF TREAD WELL, Vlcs-Pres. and chief Engr. H. K. SELTZER, ffnffr. of Construction. CLARENCE! A. NEAL. Secretary. General Office KANSAS CITY, Mo. Bridge and Vladncta Pneamatlo Foundations Connrrt and Maaonry Work of AU Kinds FUf Foandarlons and Timber Treaties Portland Office, Alaska Dock 1; A MODER5 WAV OF EXCAVATING IX 'WINTER. TV. L. McCabe. Inventor of first successful portable conveyor, friction shutes and other freight handling machinery. Awarded Grand Priio A-Y-P Exhibition, Seattle, 1809. W. L. McCabe. Pres.. Formerly of Brown A McCabe. Portland and Columbia River. Puget Sound Stevedor ing Co., Puget Sound. McCabe A Hamilton, Inc., Paget Sound, Straits of Fuca and British Columbia. MoCa.be. Hamilton A R e n n e y. Honolulu, H. L The McCabe Company, Inc. GENERAL STEVEDORES No. t Second 8treet. Portland, Or. 409 Bond Street. Astoria. Or. References bjr permission of Bank of California. W. K. Scott, Vice-Pre. Cable address, "Mc Cabe," Portland, Oregon Watklna A. B. C. Scott's loth (190) Edition A 1 Telegraphic LEONARD WHAD. Prudent. C. W. W1IAO. V Irr-Pres. J. A. MOE, Sec. aod Tru. Portland Bronze and Crucible Steel Foundry Msnnfartnnrs of f'ru rible trr Casting from 1 to 00 Lb. All kinds af Rraaa. Bronie and Aluminum Castings Tork Strrri. Brtwrcn Sid and SSd, Cortland, Oregon. The Portland i Engineering Contracting Co. C General ontractors 236 WORCESTER BLDG, PORTLAND, OREGOJT WATSON, FLAGG & STANDIFER CO. RAILROAD AND GENERAL CONTRACTORS 310 Wells-Fargo Building Portland, Oregon Giebisch & Joplin GENERAL CONTRACTORS STREET AND RAILROAD WORK A SPECIALTY GENERAL TEAM WORK Room 41, Labbe Bldg., Portland, Or.