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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Oct. 21, 1906)
0 .20 THE SUNDAY 0REG0XIA, PORTLAND, 10CT0BER ,21t ,1906, TRADING IN REAL ESTATE IS HEM Sales Between $20,000 and $50,000 Feature of Week in Local Market, MANY BUY HOME SITES Several Large Deals to Be Closed In "ear Future Property Close to Business Center in Great Demand. Transfers involving considerations of from J30.000 to $50,000 have been the rule during the past week in the Portland realty market- Many sales between these figures have been closed during that time, affecting small pieces of property m the business district and larger holdings fur ther from the commercial center. Besides this there have been a number of sales of $10,000 and $12,000 and a host of minor transactions, for the most part of vacant lots purchased for home sites. The real estate market is a peculiar thing and holds a fascination for those who watch it closely. Even with what Is known as a steady market there are SCways many variations from one week to another for which there is no appar ent reason. One week there will be a rush of very large transactions. The next "there may be few, if any, of the big deals, but dozens of medium-price f sales which keep up the total or some times raise it above the week before. Again, a week may come in which the only feature is the activity of residence properties. . These fluctuations of activity in special kinds of property have been noticeable in Portland during the present season. Several weeks recently passed during which there was the announcement of a sale involving $100,000 or more every day or two. This was followed by a period of unusual activity in suburban tracts, and sales of this character were more numerous and involved larger con siderations than those of months previ ous. This week again attention is at tracted by the number of purchases of property valued at $30,000 or so, and in this way the market progresses not only in Portland but in all cities where there is a marked activity.! Fluctuations Only Apparent. The fact Is, however, that there is a constant undercurrent of activity this season in Portland in every kind of prop erty. The variations are more apparent than real, for while, for instance, resi dence sales may figure most prominently one week, there may at the same time be negotiations on 'or dozens of large parcels of business property which are not entirely closed until the following week. In the week closing last Sunday subur ban sales were most in evidence until Saturday night, when two $100,000 deals were announced. During the same period negotiations had been in progress for the purchase of the Olds. Wortman & King quarter block from the Ladd estate for 4N,ono. This deal is being handled by Brooke & Kiernan. but has not yet been closed and will probably not be concluded, although It is understood that an offer of the amount mentioned was made. . During the past week. too. there have been a number of very large sales under way, some of which will probably be ready for announcement early this week. The total reached has been very large, for minor transactions have been heavy. Dealers have all been exceptionally busy, and an encouraging feature has been that nearly all of the minor sales made have been to purchasers who propose to make desirable improvements. A sale of tiie northeast corner of Park and Alder streets, just now be ing closed, is attracting considerable attention. The single lot involved is owned by L. Jaggar, a Front-street merchant, and is being purchased by Dr. C. W. Cornelius. The lot fronts 100 feet on Park street and 50 feet on Alder. The consideration, $30,000, shows a considerable advance In that vicinity. 5 Another sale on Alder street, at the southeast corner of its intersection with Chapman, was concluded earlier in the week. The quarter block sold is entirely unimproved and brought $23 001'. it was owned by Friendly & t'ohn, and was purcnased by H. G. Colton through the agency of B. J. Daly. The same dealer has sold to the Portland Heights Improvement Asso ciation for D. E. Keasey 50 lots in Greenway. The consideration was $25.- 000. The property is to be platted and some fine residences upon it are al ready assured. Big Sale on Park Street. The Karo lodging-house, on the west side of Park xtreet. 55 feet north of Yamhill street, has been sold by George M. Strong to Mrs. Dolly Ma goon. It is a three-story frame build ing and occupies a single lot. Wait ing & Rountree made the sale, which involves a consideration of $20,003. The property is bringing in a good rev enue whi?h will be increased January 1. when the present lease expires. Real estate men predict that values will be increased along Morrison street if the hope of the Morrison-Street Im provement Association to extend that thoroughfare is realized: The property owners contemplate dedicating a street across the north end of Mult- r if . IFF ": I 3 " : lit ix A 7 -c hi-' ai urn Mf r im is-1 I I i it . MX-: l S ;il : fflvJS 1 jt&jwsiMta j - v I i i B 1 4 i gfeA.wi i'.yftr-', h-aMa- KEfLUENCK OF DAVID C. LEWIS, JCST COMPIJiTED AT TWENTY-FIRST AND OVERTON STREETS. noiliah field from Chapman to Wash ington street This would greatly in crease the traffic upon it. The street car service would also be improved, according to H. M. Caice, who is working for the extension. It is asserted that the change would have a bearing on Morrison-street values even in the extreme down-town sec tion, and would considerably increase them in the vicinity of Chapman street. The largest deal made on the East Side during the week has just been closed by Hartman & Thompson, who sold for William M. Ladd a quarter block at East Morrison street and JL'nion avenue. The price was $35,000 and the purchasers were J. FDaly, of - - 8s- rf 'ii -v m.. 1 j XEtV HOME OF MRS. A. E. KI"G, 602 CLACKAMAS STREET. the Security Abstract Company, 'ami J. Friedenthal, of Fleiscliner, Mayer & Co. There is a three-story building on the property. Daniel R. Hawkins has sold to Flor ence G. Swarts a lot on Front street, between -Montgomery and Mill: a lot on Seventh street, between Flanders and Glisan, and a partial lot on Park street, near Flanders. In the. deed which has been recorded the consider ation is given as $11,000. Report Many Sales. Umont & Harris report the follow ing sales for the week: One hundred by one hundred on the northwest cor ner of Twenty-second and Johnson, for John Kiernan to S. Morton Cobn for $7504: a new modern house at the southwest corner of Alberta street and Cleveland avenue, foj Charles F. Frank to William M. K.llingsworth for $415); a. two-story modern house on Flanders street, between Twenty-first and Twenty-second, for Beno & Ballis tO Mrs. K. G. Iighy for $3750. Several other large deals are pending, on some of which deposits have been made. Deeds were filed for record with the County Clerk Friday for the largo tract of warehouse property, which was purchased some time ago. by the Oregon Electric Railway Company, as was announced in The Oregonlan at that time. The consideration was $325,000 for the 13 blocks, which were purchased through the agency of Charles K. Henry. The deeds are made out to the Security Savings & Trust Company for the railroad company. The property lies along the line of the proposed electric road, which Is to enter the city from Salem. A por tion of the land will be used as a pri vate right of way and a portion will be set aside for terminal purposes. The remainder will be sold in small tracts to firms wishing to put up warehouses and .manufacturing plants on the new line. The Weinhar,3 brewery interests are planning to construct a large addition to their piaut. It will occupy a site 53x 100 on a quarter block recently pur chased from Rodney Glis;i. it will be 90 feet high, with four stories, con taining the equipment for what it Is nsserted will be the most modern brewery in the West. It will cost $100,000 and will treble the capacity of the present plant. The addition will be finished and ready for operation by April 1. Whidden & Lewis prepared the plans, and the equipment has be'n purchased from the Goetz & Flodin Manufacturing Company, of Chicago. Corbett Ks'tate to Build. Another large building recently an nounced is to be constructed by the Cor bett estate at the northwest corner of Fifth and Ankeny streets. Reports that such a structure would be constructed had been current for sonic time, but nothing definite was known until this week when the present occupants of the premises were given notice to vacate. The new building will be eight stories in height and will be occupied by Neustadter Brpthers. It will be of steel construction and will cover an irregular site of prac tically a quarter block. With the filing of the agreement for purchase of the quarter block at the southeast corner of Fifth and Oak streets by the Board of Trade Building Company the exact consideration has become known. The property has been purchased from Dr. F. H. Parker on a system of monthly payments for 30 years. The pay ments will be $1100 each, or a total of $396,000. and the end of the period clear title to the property will go to the company. COHX SELLS HIS CORXER. Quarter Block on Washington and Thirteenth Brings $100,000. The lnrcrest real estate sale of the past week was concluded last night, when S. Morton Cohn sold his quarter block at the northeast corner of Thir teenth ' and Washington streets. Th price Is announced as $100. 0- and ihe sale was made by E. J. Daly. Tub .purchaser is an out-of-town capitalist whose name is not announced at this time. The property sold is covered with, old frame buildings. It had been the intention of Mr. Cohn to tear thesiA down and erect a modern structure next Spring, but when made an attrac tive offer ho decided to sell. It is un derstood that his building plans will be followed out by the new owner. The site is diagonally opposite tho three-story brick under construction by Mrs. M. M. Gearin. Transfers for Week. 'October lu. .. October 16... October 17... October IS... October 19... October 20... Total .$ 6;.4.1i . 64.bOi) . 66.422 . 9ti.4.'v . 405.917 . 06.54:) .$767,308 Permits for Week. October 15.. ........ October 10 October 17 October IS October 19 October 20 $ 1 fi.V 75. 751 55.510 20.51 5 l.fm 35.193 Total .: $257,243 TEACHERS' PROGRESS CLUB First Regular Meeting of Season Held at City Hall. The Teachers' Progress Club of Mult nomah County held its first regular meet ing, for the present year, at the City Hall yesterday. The club, which is made up from the women teachers in 'the country schools of Multnomah County, is -entering on its fifth year. During the last four years il has proven a very helpful factor in unifying the work of the country schools. Its members are en thusiastic over the success of the plant growing movement, which they planned for the country last year. The election of officers resulted as fol lows: President. Mrs. Ida Powell, of Rus sellville; vice-president. Miss Ethel G. Waters. St. Johns: secretary. Miss Isabel Rockwell, Lents: treasurer. Miss Mayme Hogue. Gilbert's Crossing. The president will announce appointments of various committees next week. The members will take up the study of the recitation, and a part of the pro gramme for each monthly meeting will be devoted to the consideration of this vital part of the teacher's work. Tho programme committee was authorized to order enough books for. the use of the club. The club will also edit each month a little periodical to be known as the "School and Home." This publication is intended to reach all the homes of tha country school children. County School Superintendent Robinson expressed himself as very well pleased with the work being accomplished by the) club. Insane Man Lost in Forest. Alexander Baldwin, aged 42 years, isi missing from Ofcrist Minsinger's ranch, near the foot of Mount Hood, and his relatives in Portland are very anxious as to his fate. He is said to have sud denly lost his reason several days ago. and to have wandered away into tho forest. Searching parties have thus far been unable to find him, . . ' i Slilwaukie Country Club. Eastern and California races. Take Sell wood or Oregon City car, starting from First and Alder streets. Caoital Stock $25,000 The Best Security on Earth is Earth Itself Practical co-operation in real estate investment within the reach of modest investors. Consolidation of small capital to compete with large capital. ' gruiiMiiiaf isieiaiiiifiisiiiiiriiiiiiEEiiiiiiiiiiuJiiiiiiiJiiif Him fiftiiiiiiiiiiitiini iiiiissisniEiiiiaiiiitiiijtiiriEttiiiiiiiiiiiiin J PRO FIT-SHARING BOND 1 PROFIT-SHARING BONDS Those Bonds are isued in series; each series comprises twenty-five thou sand dollars. Denominations from one hundred to five thousand dollars. Each series forms au independent proposition. Proceeds of all Bonds invested in real estate. No series offered for sale until the company holds a contract on the property to be purchased for said series. Application for Bonds received at any time, and same issued in order of application and as money is needed for investment. Each series secured by the real estate purchased therefor. Bonds become due and payable when the real estate held for any series is sold. The profits obtainable from real es tate are the rentals and increase in ground values. Thus, while a profit of 8 or 30 per cent may be obtained from rentals, by advantageous sales 25 per cent or more may be realized. The net profits upon a series of Bonds are divided as follows: To the Investor, 80 per cent; to the Com pany, 20 per cent. All profits.are paid to the holders of each series of Bonds as soon as the real estate held for said series is sold, and then said series is matured and retired. The words "net profits," as used here, shall be construed to mean the sum realized from property when sold, including rentals, less taxes, in surance, repairs, betterments and street and sewer assessments, and the original cost of the property. Salaries of officers and office- ex penses must be paid by the Company, and not from the sale of Bonds. Bonds ma a- be assigned, transferred or used as collateral security. Monev received from sale of Bonds can only be used in purchase of real estate, in payment of taxes, insur ance, street and sewer ' assessments and in the betterment of property. When real estate is purchased for a series, said Company issues a trust deed or mortgage thereon to a trustee to secure the Bonds of said series. Among other powers the Company can: Act as agent and broker in buying and selling real and personal proper ty, collect rents, pay taxes and do a general agency business: Books of the Company always open to the inspection of bondholders. Property listed, cash will be ex changed for the same. Eifty thousand dollars of Bonds offered to pay for inside, income property. One hundred dollars or more in vested in these Bonds will make you part owner of this property. 'Number. Series . Investment Company of Oregon, Portland, Oregon This is to certify that .......- m has this ilay paid to the INVESTMENT COMPANY OF OREGON, the sum of ' . Dollars, aud thereby becomes the owner of this Profit-Sharing Bond for said amount, without interest. The amount received shall be invested in real, estate, in the City of Portland or the State of Oregon, under the direction of the Board of Directors of said Company. The net profits de rived from the Profit-Sharing Fund shall be divided in the following manner: To the bond investors eighty (SO) pr cent and to Mid Company twent used herein, shall be construed to mean the sum realised from the sal sented by this Bond is invested, including rentals, less taxes, tnsuran ments. sewer assessments and cost of property. This bond is secured said company. This bond becomes dfce'and payable by said Compan sold. This Bond is one of series , limited to J25.0OO. This Bond ' and record thereof on the Books of said Company. The books of sal tion by the holder of this Bond. When real estate is purchased fo deed therefor as security for this scries. In witness whereof, the INVESTMENT COMPANY OF OREGON has caused these presents to be signed by its President and attested by its Secretary at Portland, Oregon, and its corporate y (20) per cent. The words net profit, aa e of property in which the money repre ce. repairs, betterments, street improve by real estate. In this series, owned by y when the Real Estate in this Series is may be transferred by indorsement hereon d Company shall always be open to inspec r this cerlesT said Company issues its trust seal hereunto attached this seal! day of 190.... Investment Company of Oregon By Attest President Secretar y lllllllllllllll!l!lllll!ill!!lltlllll!!l!i!!ll!IIW J. L. HARTMAN, (of Hartman-Thompson, Bankers) - President L. G. CLARKE, (of Woodard-Clarke Drug Company) ..Vice-President HENRY ROE, (Chairman Masonic Building Association) ... Secretary HARTMAN-THOMPSON, (Bankers) .Treasurer WM. A. BANTZ, (Prominent Real Estate Dealer) '. Manager H. H. NORTHUP, (of Northup & Northup Law Firm) ...-Counsel TEMPORARY OFFICES 323 WASHINGTON STREET PORTLAND OREGON TELEPHONE MAIN 54 17 i i 5