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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-
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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
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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
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