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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Feb. 3, 1907)
115 THE SUNDAY OREGOXIAX, . PORTLAND, FEBRUARY 3, 1007. REALTY IS ACTIVE I DESPITE WEATHER HOUSES TO REIT TWO NEW BUILDINGS IN THE BUSINESS SECTION OF SOUTH. PORTLAND February Opens With Notable Sales and New Build- ' ing Projects. In Spite of Building Activity, Few Vacant Dwellings in Portland. DEMAND GROWS STRONGER GOOD RETURNS TO OWNERS f tlJP it DEMAND lOutlook Good for Even More lie j markable Activity During Coming t SjirlnK and Summer Months. ' Progress of Building. Notable, real estate transactions and w building projects have come to light with encouraging frequency during the wrk. Sales for the most part- have. .Ven In the medium class, but they have V-een numerous and have included some .instant-en of jarge and rapid Increases in values. The building projects which have enraa to light have also been Imporlant end give further evidence of the unusual activity that is certain to be seen during Hie coming Spring and Summer. That things should be so brisk In the i.-n realty and building world is some Vhnt surprising at tile present time. The past few weeks hove included the most unfavorable period of Winter weather that Portland hns experienced tor years. It is also a fact that no other depart ment of business is so easily affected by 1tad weather or other depressing Influ ences as the real estate market. Yet in spite of the unusual snows, freezes and "silver thaws," operations continue with .out abatement. j The only conclusion to be drawn is ?that the demand for Portland property is iso great that it would take more than ordinarily Inauspicious, circumstances to t-ause a lull. There is so much money seeking investment in this city that un favorable circumstances have little effect upon the buying and selling. Such a condition assures an exceptionally large volume of business during the next few jnon ths. t Among the important building permits taken out during the week was one for the construction of" the Mason, Ehrman Co.'s building at the southeast corner of Flfrh and Everett streets. It will be seven stories in height and is to cost S!0.00t. The foundation has already been laid for the structure, which is to cover a quarter block. The plans have been prepared by W" hidden & Lewis. It is ex pected that the building will be ready for occupancy by September 1. , A permit was also issued yesterday for the new building of the Troy Laundry Company. It Is a two-story brick and Is to be erected on Flanders street, be tween Eighth and Ninth. Another large permit just issued is for the Methodist .Episcopal Church South at Union avenue and Multnomah street. It will be a splen did structure of stone, costing KAWO. Prospects for February. t With the exception of the church, these permits were all issued during the open ing days of February and therefore are not included in the January building per mits, -which were far in excess of. tho figures for January of last year. It is evident that with so good a start the .February totals ' are also going to run lilgh,' Among other large permits that will be issued during the next few days will be those for tho new freight sheds of the Tortland & Seattle Railroad Company.- These two buildings, 50x950 feet each, will stand on both sides of Eleventh street, extending from Lovejoy to Hoyt. The -cost will be about $160,000. Plans for the sheus have been filed with Building Inspector Spencer, who lias delayed issu ing the permits until he can review the ppecirteations. The sheds are to be of l-ement and steel and will be the most Vnodern structures of their kind in the Js'orlhwcst. Tenants of the building on the site of the proposed office block of the Foard of Trade Building Association have been served with notice to vacate. This means the beginning of another fine structure fit an .early dale. It has been decided that only six stories of the Friede building will be erected im mediately, but the walls will be construct ed with sufficient strength to bear four Jnore floors. ; The contract haa been let for the excavation for the six-story building to be erected by S. Morton Cohn at the inorthwest corner of Eleventh and Washington streets. The construction of the Lamson building on the adjoin ing quarter-blork will proceed simul taneously, although the latter struc ture has not been started. The permit Jias already been issued for the three- story Baker building at Eleventh and Washington streets, the foundation for which is nearing completion. The largest single transaction of the week was the sale of the lot at the southwest corner of Fourteenth and Washington streets by George K. Tiogers, of Salem, to Emanuel May for $70,000. This holding, which is Im proved with a twojstory frame build ing, was purchased by Mr. Hogers a little more than one year ago for $.16,000, The sale was made by E. J. Daly and W. B. Streeter. The same dealers have sold 10 acres north of Kose City Park for 17000 to a local in vestor whose name Is not announced: lso 75x138 feet on the north side of Russell street, near Albina avenue, for Emanuel May to a San Francisco man. The property consists of a two-story frame building and two cottages, and the, price was 112.500. " Important Saturday Deal. An important sale was made yester day when Grindstaff & Schalk sold to H.-W. Goode the property at the south west corner of Hawthorne and Union avenues for $40,000. It was owned by S. A. Arata and consists ot a piece iCixlrO, mid Is Improved with a three story frame building. The same firm has sold nRxlOO on Madison street, be tween First and Second,- for the Fechhelmer estate to "J. P. Jensen and Samuel II. Graham. This sale is an advance of 18500 in about two months. The old North Portland Hotel at Suf folk and Twenty-third streets was sold yesterday to J. W. Wright for 122.000. it is a three-story frame building. 7.5x90, and waa owned by C. C. East lnnd. This is a full . quarter-block site. The sale wag made by A. F. Swc'nsson & Co. ,. O; A. Hall has sold the quarter-block at the northwest corner of Grand ave nue and East Madison street to H. W. Hoode, J. M. Healy and Whitney L. Woise for S30.000. The property was purchased less than a year ago for ASoOO. It la an Instance of the rapid in crease in prices' which prevails all along this section ot Grand avenue. ' First-Street Property Sold. The sale was closed yesterday of a lot on the west side of First street. between Morrison and Yamhill, from 9 .-sasizmjia- rJ-OJZGEHON J3LDO. k&HM s5TL5. Loewenson Brothers to the Otten heimer Investment Company. The lot Is improved with a two-story brick building, and the consideration was $60,000. The sale was made by Gold smith & Co. Buchtel & Kern yesterday bought a quarter block on Union avenue and East Main street, lots 1 and 2, block 93, for $12,000, of J. M. Healy. II. B. McEwen sold to N. C. Richard the Wilbur Hotel, on East Oak street and East Second street, for $10,000. It contains 30 rooms. Permits for Week. January 28 $ 5,130 January 29 4,800 January 30 - 33.300 January 31 57,423 February J 18,520 February 2 120,015 Total $239,210 Transfers for Week. January 28 $ 37.491 January 29 77.740 January 30 86,717 January 31 : 52.932 February 1 .' 97.778 February 2.. 108,207 Total $460,865 PRICES LOW BY COMPARISON" Spokane Sale DUpels Idea of Over valuation In Portland. New proof is constantly coming to light that realty values 1n Portland are yet lower than those in many cities of small er population and of less extensive busi ness. An Instance which shows this fact very well is reported by E. J. Daly, a lo cal dealer, who returned to Portland dur ing the week from Spokane, where be went with the local delegation to the convention of the Pacific Coast Ad. Men's Association. "That Portland real estate values are st:u surprisingly low, as compared with other cities, is shown by the conditions that prevail in Spokane," said Mr. Daly. "While I was in that city a sale was made which shows . that even In that small city prices are higher than in Port land. This sale was of a property, 60x120 feet, at Riverside avenue and Mill street. It was Improved with only a two-story building, and brought $247,500. '"Of course this was one of the leading corners in Spokane, but the fact that such a price should be paid in a city the size of Spokane shows that the tlgures in this city are sure to go much higher. Take the sale of the OMs, Wortman & King build, ing. for instance. Taking into consldera. tion Portland's population and business, as compared with Spokane's, this quarter block should have Sold for $1,000,000 If the property I spoke of was worth $247,000 in Spokane. That the Washington street quarter sold for $350,000 gives an indica tion of what we may expect here In the way of advances. "Another thing I noticed in Spokane was the large number of brick apartment- r .-:V. . . " " ..wcifrL' tve vJ?:'.a.. -yv x T 71 o : - -S,A. RESIDENCE OF ALFRED BCRKHARDT, TWENTY-THIRD AXD CU8AN. houses that are built or now going up. Property-owners are finding that it pays to make costly improvements in this line. Portlanders would do well to' invest 1n improvements of this character, as they are now doing more than ever before." NEW TOWNSITE ON COOS BAY Port-land Men Interested In South Harbor Development Company. A new corporation, known as the South Harbor Development Company, has been formed for the purpose of establishing a new townsite on Coos Bay. The com pany is composed of C. W. Tower, Marshfield, president; John Lamont, Portland, vice-president: Charles M. Hemphill. Portland, secretary: G. W. Waterbury. Portland. treasurer., and Phil Harris, A. C. Gage, S. S. Lamont, John E. Davis, 3. U Hays, G. W. Kegler, 111! i -k J . i i til m saEpa HaSe . s&xr?!: 4 E. D. Whitney and F. C. Brockenbrough. of Portland; I. "R. Tower. C. H. Coddlng ton. E. L,. Robinson, of Marshfield. The promoters of the enterprise have purchased a tract known ea the Iapp farm, consisting of 164 acres on Isthmus Inlet. It has a frontage of 1630 feet on the inlet, with a depth of 30 feet of .tide water for the entire distance. The land is located near the survey of the Southern Pacific and it is Intended to utilize It for a manufacturing com munity. Inducements will be offered for the location of factories, and the promot ers are confident that it will be come the site of one of the most thriving cities on the bay. Port landers Buy Vancouver Land. A tract of 16 acres at Vancouver, Wash., has just been purchased by Port land investors. It was acquired by J. Hidden and transferred to W. F. Ed wards, as trustee. The land will be platted and placed on the market. The sale was made by the -Dean Land & In vestment Company. W1U Plat Land at M ilwaukle. William Shindler and C. Kerr bought four acres near the center of Milwaukie last week, which they will plat during the coming week. T. R. A. Sellwood an nounces that he will plat To acres of his Milwaukie farm this Spring. UK PLANS FDR IN STEP TOWARDS COMPLETION OF GOOD SAMARITAN. , ' Orlgnial Project Altered to Give Ad ditional Room In New Wing to Cost $80,000. Plans for the new wing for the Good Samaritan Hospital are being worked out as rapidly as' possible by Architects Whidden & Lewis, under the supervision of the building committee, consisting of Bishop Suadding, Dr. 8. El Josephl and R. L. Glisam The section of the hos pital to be built will cost approximately $80,000, of which $20,000 is now assured. It is expected that actual work will be un der way -before the end of - the present year. In drawing the present plans the archi tects are -carrying out In a general way the project - a originally outlined.. The west wing was completed a year ago, and the portion now to be built will be the central section of the . completed build ing. The part of the building now stand ing represents a cost of about $100,000, which will be doubled in the east wing in V4 VA ill - .i' i.r- -t tiv - addition to the $80,000 to be expended for the connecting portion. In order to include a chapel in the mid dle section, it has been necessary to change somewhat the original specifica tions. The court will be 120 feet across and the east wing will extend 28 feet beyond the line originally set. The new section will be known as the administra tion -building, as it will contain the hoe pita! offices. It will also contain the dining-room and kitchen of the hospital as well as one ward for patients. It will be erected as a memorial to the late Bishop Morris. The task of enlarging the hospital pre sents complication, for the reason that the site of the new wing is now occupied by a frame annex containing the kitchen and dining-rooms besides patients' quar ters. During the change the culinary de partment will be housed in the nurses' quarters, north of the main building. Cot tages in the neighborhood will be rented for the accommodation of the nurees. X J3 n 4 t'-i j. I 11 mm aZf f1IlK3FFAfK CO- STABLES -n OWNERS COMBINE - ON-tAND VALUES Will Hold Sites in East Side Warehouse District at Uniform Price. QUARTER BLOCKS, $25,000 Demand for Property In Section : Bounded by East Washington, East Water, 71 awl home and Union Increases Prices. The sale of block 56, In Stephens' Addi tion, to A. B. Slauson by Jacob and Jose phine Mayer for $15,000 was tho largest real sale made In Central East Portland during the past week. Another rale of a quarter Mock on Union avenue is report ed, but the details are withheld from the public for the present. It is understood that there has been an agreement among property-owners in what Is known as the warehouse district, between East Washington street and Hawthorhe avenue and Union avenue and Water street, that no quarter block there will be disposed of under $25,000. This announcement is not denied by those in position to know the facts. This agree ment to attributed to the filling contracts that are being closed with the Pacific Bridge Company by property-owners of this territory. It Is conceded that this big fill will change the whole character of the Eart Side, as it will make available more than 25 -blocks for warehoucs and wholesale buildings, close in, that at pres ent are not available for any purpose. It ia not Improbable that half blocks and quarter blocks west of Union avenue that were bought for $17,000 and upward will be held for more than double. The fill wiUjrlng the land up to within nine feet of the street grade, and alno the streets will be filled that height at the same time. Dr. A. M. Flinn sold a quarter block on East Third and Couch streets for ?10, 500, which Is considered a good bargain, considering the location. M. A. Gay sold to A. F. Flegel lot 2 in biock 139. East Portland, for $5600. H. B. Allen sold 65 feet off of lots 1 and 2, in block 69, Hol laday'6 Addition, to Iary O. Allen for $3200. The sales on the Eat Side for the week were mainly of residence property and were widely scattered, each section showing a number of transfers. The weather has not been conducive to closing up- larger dealt? known to be pend ing. Among the smaller sales the most important were as follow: Mount Tabor Villa. D. Goldsmith to N. J. Devoid, lot 19. block 24. for $00: Sunnyside. L. W. Durant to Hugh McArthur, lot 16, block S8, (1350; Cole's Addition. Otto Elienrieder o T. E. Case, lot B, block 6, $3000; John K. Thomas to R. T. Linney, 12 lots in block 20, North Mount Tabor. $4500. The Portland Railway Company bought lots 10 and 11. block P. Sellwood. for $1000. of Louise C. Wendorf. The railway com pany alao bought part of lot 11, block X, Sellwood, for $100. Acreage Demand In Suburbs. There is quite a movement In acreage property in the suburbs of East Port land as far as the Sandy River, but more especially along the Columbia Slough district. On the road between Falrview and Grewham H. S. Stone is preparing to plat 100 acres of his fine farm. He proposes to cut up his farm into tracts of one and up to 10 acres to suit the demand for smaller tracts. The Stone farm is considered one of the best in Multnomah County. Some Idea of the value of Improved farm lands may be had when It Is an nounced that the lowest land of the Stone farm ' will" not be under $250 per acre, and some portions of it will be held for higher figures than these. Even at these prices it is expected that he will sell off the farm rapidly. Napoleon Davis, also Is considering the matter of cutting up his farm into small acre tracts. Besides these there are others. The new trolley line from Falrview to Cedarvllle Is completed to within one mile of Falrview, and electric cars may now be operated that far. The iron Is laid for the entire distance and a few days of good weather will see the line completed to this suburb. It Is largely due to this electric line that there rs now a movement to get hold of acreage thr.cts at and about Fairvlew. Between the Base Line road and the Sandy road much of the unimproved land has been sold to newcomers. Mrs. Noah Hall has sold the last 28 acres of the Hall estate, bringing an av erage of $100 an acre. W. E. Lewis, a Russellvllle nurseryman, has had 60 acres of land Just north of the Base Line road cleared, preparatory to seeding in nuts' and fruits. It is estimated" that between 400 and 500 acres of the unimproved lands east of Russellville have been sold in small acreage tracts, ranging from 10 to 20 acres, and this land is not being cleared. It is thought that practically all this class of land as far as Fairvlew will be cleared for cultivation by the new owners during the present year. Most of the land will be used for berry raising. It may lie said that improved land and land in berry crop range from $300 to as high as $600 per acre, and not little of this class is for sale oven at these figures. Residence Lots Sold at St. Johns. At St. Johns several small sales were made, and a number of impor tant deals are being closed up. W. S. Lauther bought "parts of lots in block 35, James Johns Addition, $1S00; also he- bought some parts of lots in same block for $1800. M. F. Tufts sold to Peter lots from 4 to 1 1 Inclu sive, block 47. for $2000. Otto Brandt sold to Ella C. Volhelm parcel of land near the right of -.vay of the electric railway company for $3000. Point View Real Estate Company sold lots 7 to 14 inclusive in block 22, Point View, St. Johns, $1600. The largest sale made recently was that of Else and Fannie Vandermeer to Henry L. Colvin of lots 1 an:' 2 block 42, James Johns First Addition; lots 2 and 3, block 38 James Johns First Addition; lots 1, 2: 7 and 8, block 31, James Johns Second Addition, all for $1700. Several new plats have been pre pared and are held up by the Cuncil until the-streets have been changed to conform to the surroundings. Gi the Peninsula between St. Johns and North Albina the territory Is being cleared of brush preparatory for the home builder, and the promoters declare the main population of Portland will some day bo between the Willamette and the Columbia Rivers. There is room, and it is being rapidly filled up. PROPERTY-OWNERS PLAN ERECT BUILDINGS. TO Movement to Replace Frames With Bricks on Eourlh Street From Yamhill to Salmon. A movement has been, started by own ers of property along Fourth street to , unite for the improvement of their hold- Ings. The section of the street included j in the proposed changes is that between j Yamhill and Salmon. If the project is ! carried out, ther will be a decided change in the appearance: on both sides , of the street for the two blocks under j consideration. The section of the street which it is pro I posed to Improve is that between the Young Men's Christian Association and i the County Court House. At present both ! slues of the street at this place are built j up with small frame buildings. If the plan now suggested is carried out, these buildings on both sides of Fourth street j will be removed and replaced with bricks. ! There are 12 individual owners of prop i erty in the block named. Some of them i are anxious to build brick buildings on , their holdings, and are advocating an ; agreement whereby all the owners will - build. In this wav the owners would mutually benefit each other by Improving the entire two blocks simultaneously. "The movement to improve Fourth street, between Yamhill and Salmon is not definitely settled yet, but the chances are that it will be carried through." said David S. Stearns, owner of part of the property affected. ' "We are trying' to get all of the owners to agree to build during the next Spring and Summer, and indica tions are now that we shall be successful. "Personally, I consider the location one which Justifies better buildings than those I standing at present, and I think that the rest of the owners feel the same waj about it. I am ready to begin improving my property Just as soon as the others will agree also to build." YEAR BEGINS WITH INCREASE Puildlng and Realty Figures for January Are Auspicious. Heavy increases in the totals of both building permits and" real estate trans fers were shown by the month of Janu ary, 1WT. as compared with January, lKi. Real estate transfers advanced from $1,454,600 to $2,341,889. or a gain of 60 per cent. Building permits went from $3Sl. 067 to $614,845. a gain of 56 per cent. The fact that the year has opened with increased activity ia considered a good indication of what may be expected dur ing the remaining 11 months. Last year was by far the best that Portland has ever known, both In realty and building. That the prophecies that It will be even surpassed in 1907 are well founded may be inferred from the January figures. Saturday's Real Estate Transfers. Geo. F. and Clara Barrlnger to Allen L. Swain, lot 20, block 14, Mt. Tabor Villa $ 700 Jacob and Laura B. Slaughterback to Cord Sengstake, 9i acres commencing at point in north line of John Windle D. L C. 3.70 chalne east of west boudary of said claim 9.000 p. L. Willis et al. to Geo. H. Strow bridge, 3o acres of N. B. of Sec. 20. T. t S.. R. 2 E - 0,000 Henry C. Allehon et al. to Jas. S. Gleason. undivided 2-3 of lots 11 and 12. biock 3. Abend's Add. to Albina.. 1,000 Delia II. and Geo. I ijchroeder to E. &COJLlMJ3fASTS. fp A. Cohlelgh. lots 45. 40, 47, 48. block IT. Mt. Tabcr Villa 1 Jacob Kahn to Blancha H. Plumauer. lot 2, block 321, CUy of Portland 1 A.. I., and Anna J. Keenan to Keenan Rro. Co., lotis 4 anil 5. block tt, Ti'obetts' Homestead 1 Blanchf r. ami S. M. Bluir.auer to W. T. Branch, lot 2. block 321. City of Portland 19.W0 Allan B. and Mary I. Klaupon to Se curity PHVfnKa Trust Co., blK-k rti, Stephens' Add 1 I. E. and Kathryn Bowman to John A. Melton ot al., lot 11. block 9. Wooulawn -. 23 Ifvi HowTiian to n. B. Bowman, l't 11. block a. Wooulawn 1 W. 11. and Alice B. Nunn to H. r. Pittenger, lot 4, block 19, N. lrvlng ton 250 W. H. and Alice B. Nunn to Oottlieb Balllet, lot 12, block 17, N. IrvlnKt.jn 2"J3 Henry u. and Jennie B. Thlelst-n to li. V. Schmeer, lots 10. 11 and 12, block 1, Orchard Hotnts 400 Dan J. Malarkt-y et al. to B. Kverett and R. O. Jubltz. ftant So feet of lota 5 and 8, fractional block o, Watfon's Add 10 Flora L Collett, trustee, to John I. Caldwell, lots 8 and 10, block 12, Richmond A'W 2,100 Ja. D. and Mary G. Kart to Mary Altfes, lota 3 and 5, block "T," Tabor Heights- 10 W. H. and Lovlna IX Orlndptaff to .Ta. P. Jensen and Samuel H. fira ham. ettrtt 5ft feet of lots f and 0, block lo, city 25.000 T. S. Mc-Danlel et al. to Mary A. ''relghton. lot 4, block 3. Ea-st Port land Heights 600 A. H. and Sarah M. Tanner to A. 1. Htephen, lot lo, block 8. King's Second Add 8,000 Effle and Otto F. Brandes to Mrs. F. N. Shurtleff, east 40 feet of lots 7 and S. block 220, city I Title Guarantee & Trust Co. to J. F. Langley. ea?t of lots J and 2 and west . of lots 7 antf 8, block 32, Sullivan's Add 1 Mary A. and Jap. Bamford to Anna M. and- Benl. Sweeney lots 3 end 4. block 9, Miller's Add. to Sellwood S70 Moore Investment Co. to .1. A. Gi-aef, lot J.l. block 4. Vernon 300 J. 13. Yeon to W. L. Larrubee, truelee, tract In Sec. 11. 12, 13. 14, T. 1 IS.. K. 1 W.. being -art of V. W. Baker . L. C 5,OiV Addle Schwartz to Henry Harkson, lot 1. block IS. Lincoln Park 1 Samuel J. and Anna Johnson t.- Hugh M. Glen, 50x100 feet of block 110, Graver's Add 1.2.V) Kont. w. and Minnie c. Wilson to Peter Jorgenaen, lota 10. 11 ar.d lit. Hamilton 700 D. B. Kelly to W. H. Lang, part of lots and 4, block 36, Carter's Add. 2,000 Lucy M. Hlte to Lelah Shields, lot 4. block 3S, Sellwood 800 Joseph H. and Alice J. Nash to Alc) M. Croft-!, lots 1 and 2. block 2, Nashville j Jos. H. and Alice J. NaHh to Geo. Cameron, lot 1, biock 34, Tremont Place 8O0 Frank and Anna Mlchels to Thou. c. Hensley, lot 3, Sec. 35, T. 1 N.. K. 3 E., containing 2o.l4 acres; also a strip 1 rod wide used as a roadway. 4.000 Jer.toft N'oe to Win. Foes, undivided of lots 23 and 24. block 5, Kern Park l."0 Finley O. and Kinma P. McGrew to m F. Hlrsch et al.. lota 1, 2 and 3. biock H. Town of Lents ;o Chaa. and Mary Henp.n to J. O, Dig man, lot 3. block 32, Multnomah 650 H. K. Noble to C. V. Wagener, tract "D," Grover Add 1 C. F. and Agneg Wagener to Win. J. Harbke. tract "TV" Grover"s Ald., excepting. a s-trip 0 feet wide off west side B.-.0 Chas. Adams to W. C. Hering. lots H and 7. block llo. Sellwood 9CO Hdna J. Woodman and Wnt. I. Wood man to France-- K. and IN'eHle t. Errington. lot 5. block 3, Gilham's Second Add 1.800 ! -4 Osfe- --"- fi --.wiWifS.. "lL''iUt'-";Trll-iSNaiif RKS-IOENCK OF JOSEPH NKIDKRMF.YER, KI.KVKNTH AXD (t HCYI.ER . STRJCKTS. A. F. and C. Eastlund to J. W. Wright, lots 9 and lo, block 3, Bourne's Add 10 Mollle B. Childress ot al. to. Alton Ro ger", lot fi. block 7. N. Irvlngton.. 3,500 Security Savings & Trust Co., trilBtee. to .1. .1. Reynold?, lots 1 and 2. block 16. John Irving'!" First Add. 1.750 Seruritv Savings & Trust Co. to Albion L. C.llc et al., lot 2 In north I- of double block "'I, city 10 Albion L. Gile et al. to Beaver Invest ment Co., lot 2 In north H of double block "I." city 10 Mre. '. and L. Hennehofer to The Cltzicens' Bank, lot 3 and south lo feet of lot 2 and South 60 feet of north 120 feet of lot "b," all in block 4 Piedmont Park 1.575 Firland Co. to D. C. Weatherby. lot la, block 0, Firland 150 Mary A. and Jas. Bamford to Anna M. and BenJ, Sweezey, lot 6, block 9. Miller's Add. to Sellwood 170 Jas. F. and Bilza J. Hamilton to Harry B. Bramhall. 15 acres begin ning at S. K. corner of John Doug lass' D. L. C 2,500 Loulpe V. and J. W. Wright to Stella Van Vlett. ea 100 feet of lot 12. block 15. Albina 1.000 Total $108,207 Bave your abstract made by the Securl-.j Abstract A Trust Co.. 1 Chamber of Conuaeraav Capitalists Gain Substantial Ttevenne by Operating In Small TtefMflence Properties Mnch Sought by rtrntcrs and Bnjers. Those who make a specialty of handllnaf rentals declare that there has not been a time in recent years, with the possible exception of one or two months durinc the Lewis and Clark Exposition, when there were so few vacant houses in Port land as at present. In spite of the Im mense number of dwellings erected dur ing the past two years, the Influx of people to the city has been so great that there has been no over-building even temporarily. As rapidly as families leave rented houses to take possession of homes they have built, other tenants take their places. Last Summer the construction of dwell ings progressed on such a large scale that some there were who dropped a word of caution that there would be many vacant houses In the city this Winter. How far wrong they were is shown by the fact that house-hunting Is now a serious matter desirable residences be ing snapped up as soon as they are put on the market for rent. Instead of there being a reduction due to the heavy build ing movement, rentals have remained firm with a tendency to increase. Residence rentals in Portland, however, have not been forced to a point that makes them a severe burden on the por tion of the population not owning homes, and chances ore that they never will be. Portland is blessed far above the aver age city In its facilities for home sites. On the east of the Willamette, land which is almost Ideal for residential pur poses spreads out in almost limitless ex tent. The fact that the desiralile resi dence sites are not confined to any limited area will ever act as a damper to keep rentals within reach of those earning a modest livelihood. This Is one of the reasons that will more and more as time goes on commend Portland as a home city. Good Revenue an Investment. At the same time rentals in Portland are returning a percentage upon Invest ments which Invites capitalists to place their money in this kind of holdings. Although hits have been rising rapidly In value all over the city they are still comparatively low and rentals paid on the average dwellings fully compensate owners for the outlay necessitated. So both from the standpoint of. those who would Invest in residence property and of those who would occupy rented premises, Portland offers attractions. There Is at present a demand for moderately priced dwellings that is in excess of the supply, even with the hun dreds of houses which have pne up In nearly every section of the city during the past year. For houses that bring from $20 to $3D a month ttiere is anything , but a dearth of tenants, and although the building movement continues as at present or even in greater proportions, there is no reason to believe thai tho demand will be more than met for many years to come. What kind of residence property does it best pay to buy from an investment standpoint? is a question that is frequent ly heard. Men who are best able to tell say that dwellings costing from $2000 to $2500 or thereabouts give the largest per centage of returns. There are numerous operators in Portland who are spending mucli money in constructing houses of this character, and they are all reaping profits. A favorite plan is to buy a quarter block and build upon it four modes., residences. Such properties are found good investments either for rent ing or tor speculation. Demand for Inside Dwellings. Investments of this character pay about the same proportionate revenue whethef they are close in or suburban. The de mand, of course.- is greatest for the dwell ings near the business district, but at present suburban homes ate all occupied v8 - ,"-. i,w,W as well as others. In buying the lots near the center of the city the higher rents just about offset the increased in vestment. A dwelling within walking dis tance of the business center rents for about $!0 a month more than the Kama dwelling would If it were so far out tliut the tenants should have to pay carta, e. As a general rule the houses for which it is moKt difficult to find tenants aa those that produce from $60 to $10 v. month. As ausual thing families tnat can afford to pay so much rental lay their plans to buy or build attractive homes of their own. . If they are not ready to Invest in homes they usually live In less expensive dwellings until they are prepared to build or buy. At present, however, there are very few dwellings, even in this class, which are not rented. . It is also true that there is no danger of loss in investment In expensive dwell ings, for there is a plentiful demand from those who desire to buy properties of this character, as is shown by the fact that many fine homes have changed own ers in Portland during the present Winter.