THE SUNDAY OREGONIAN, PORTXAJTD, MAT 19, 1907.
FUNDS PLOW! IN
THIS DIRECTION
Superiority Recognized by In
vestors From the East
and North.
MllllM!i!WS!ri.fteII
"".i.i,i, it,
mmm
CERTAIN OF 7 PER CENT
i ill! RlDi Sliliiiiiliiliiilli
ill"" "'""""t'tll tttttm L " "ro.
Real Estate Continues to Move in
Good Healthy Manner and Build
ing Maintains High Char
acter of Improvements.
There is no abatement noticeable in the
lnauirv for Portland real estate, either
in way of investment or in what may be
termed speculation.
As to the speculative feature there is
lacking the element of chance that usually
accompanies purely speculative operations,
for based upon transactions of the past
fnr months Dronertv purchased for a
rise in the market has almost invariably
brought returns far in excess of expecta
tions. It has been no unusual experience
with this class of buyers to make a turn
Betting handsome profits after holding but
ft short time.
This does not exactly mean that values
ihroughout the city have had abnormal
advances, for the fortunate "speculators"
used good Judgment and had what is com
monly known as good luck in selecting
property in the more desirable localities
en tne line of business district extension.
Values have been and are still low in
f-omnaxison with those in other cities of
the country of approximately the same
size as Portland. This fact and the wis
dom displayed by owners of Improved
property In noiaing rents aown wiuiui rea
sonable limits have resulted in attracting
not only local investors but outside as well
to this excellent opportunity to obtain bet
ter interest on their capital than is offered
In any other legitimate channel.
Portland Rentals Reasonable.
F. O. Northrup, in speaking yesterday
of the influence reasonable rentals nave
on keening the real estate market active,
explained that desirability of improved
.property as an Investment is Based upon
having and holding good tenants. If a
landlord becomes avaricious and is not
content -with a fair Interest on his Invest
ment and puts up his rents unreasonably,
his tenants are apt to leave his premises
because of Inability to stand the expense,
This is particularly the case with renters
of stores and offices. But if rents are
kept at a figure tenants can afford, the
owner keeps his property rented and re
ceives his income regularly. He does not
kill the goose that laid the golden egg.
At the present time nearly all, if not all.
business property is netting about 7 per
cent on fair valuations. That is much
more than the same class of property re
turns In other Coast cities, so that Port
land Is regarded as the best city for in
vestments of this character; but if tenants
are forced to vacate by excessive rentals
there would follow much vacant business
property that would soon cause dullness
where now exists activity in real estate
Investments.
With all that, owners of business prop
erty in Portland cannot hope to have .the
percentage referred to kept up. As the
city grows in importance more expensive
structures will be built, for your up-to-date
renter demands that his quarters
contain all modern improvements and ap
pliances that add to convenience and com
fort. It was said in San Francisco before the
Are that the big D. O. Mills building
netted the owner only about 2 per cent on
its cost price. That may have been an
exceptional case, for the reason that the
!Mills building was erected at a time ma
terials were at their highest; but as the
:ew Tork millionaire is not only rebuild
ing but enlarging the block referred to, he
either was satisfied with the rate of income
received or else he Is actuated with a high
degree of loyalty to the city and state
that gave him his early start in life.
Seattle Values Too High.
Information received from sources that
are considered reliable puts the income
from business property in Seattle at from
2 to 5 per cent. This .would appear to prove
that valuations In that city are too high,
and the fact that Investors are coming
Jrom there to Portland indicates the supe
riority of this city as a place for invest
ment and incidentally as a place of resi
dence. Several of the largest real estate firms
in Portland are said to be negotiating Im
portant deals for Eastern investors, the
record of this city having attracted the
interest of capitalists there as well as
here.
There is nothing in the outlook that
is calculated to cause fear that the.
growth of the city will be retarded by
unwise action on the part of owners
of available properties. The "hog-lt-all"
element has nut yet made its ap
pearance and there is a good steady
movement In the market that shows
clearly a disposition on the part of
those who are buying on a rising mar
ket to accept a profit even if the next
owner has a chance to make a larger
one.
Buildings of High. Class.
For the week the total of transfers
posted up. toward the average main
tained for the past few months, and
building permits, while not particu
larly heavy in individual Instances,
were for a character of buildings emi
nently favorable to the city's continued
improvement and extension. Portland
Heights and Willamette Heights are
both favorite sections for high-class
residence sites, and the northwestern
district, particularly out Flanders and
parallel streets. Is building up with
fine homes- and apartment-houses.
The Portland Railway Light &
Power Company has secured land ad
joining the Savior street and Piedmont
car barns, on which it Is Intended to
erect clubhouses for the benefit and
comfort of the employes of the com
pany. Plans for these clubs are about
finished and the buildings will be hur
ried to completion during the Summer.
The clubhoiuses will be fitted up with
reading-rooms, gymnasiums, billiard
rooms and baths.
Progress in Xew Buildings.
The Gciser building on Park, near
Aider, will be ready for occupancy
about the middle of June. The pro
prietor of the Calumet has secured a
lease on the premises.
Steel work on the new Commercial
Club building has reached the Blxth
story and is progressing satisfactorily,
the sound of the automatic riveter be
ing heard in tiie neighborhood almost
continuously.
One story of the Dowling building at
Park and Alder is up, the outer brick
wnlls keeping pace with the heavy"
interior construction.
Across Park street Cook & Co. have
done h remarkably rapid bit pf work
in excavation for the Cornelius Hotel.
ilute:lal for the hotel building is ready
fui' uciUny cu lue ground, and con-
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YOU ARE ENTITLED TO THE BEST YOUR MONEY will buy and you get it in "TERRACE
PARK," Portland's most beautiful new residence section. "THE JEWEL OF THEM ALL" is
- " the expression heard on every hand at our "blue ribbon" addition. IT IS THERE YOU SEE
IT. Not necessary to look away off into the future 'for profits and conveniences. The city, cars, schools,
churches, lodges and stores are at your door. Then "Terrace Park" is in the DIRECT PATH OF
PORTLAND'S GREAT EASTWARD GROWTH YOU KNOW WHAT THAT MEANS when one
makes an investment of hard-earned money." The lesson is plain invest your money where it will soon
treble.
"SPANTON'S SPECIAL FREE STREETjCAR"
Runs every hour today from 10 A. M. to 6 P. M., rain or shine. Take it at Second and Yamhill and see
for yourself what we have.' We want you to look "Terrace Park" over whether you buy or not. FREE
ICE CREAM FOR ALL. Lots $300 to $600, on easy terms. Do not fail to join "Terrace Park's" happy
crowd today.- If you cannot go on our "Special Free Car," take any "M.-V." car.
in
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270 Stark
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Portland
Oregon
struction work will proceed at once.
Reinforced concrete work on the
foundation for the new Board of Trade
building at Oak and Fourth streets Is
in place.
E. J. Daly reports that the name of
the purchaser of the Dr. Templetem
three-story flats on the north side or
Washington, between Sixteenth and
Seventeenth streets, 50x100 feet, is Ger
trude K. Russell. The consideration
was $37,500.
The name of the purchaser of the
southeast corner of First and Madison
streets, 50x100 feet, occupied by a two
story brick, is Dr. Kenneth A. J. Mac
Kenzie. The property was owned by
E. H. Wemme, the agents being E. J.
Paly, and W. B. Streeter. The consid
eration was $50,000. This is the sale
referred to during the week, with the
purchaser's name withheld.
Purchase Site for School.
For a unsidcration of $14,500, the
Board of Education has p..rchased from
E. W. Godfrey a tract of ground 150x
23 feet at Rodney : enue and Xnott
street. The board c.:pects soon to
abandon the Williams-avenue school
and has purchased the Godfrey prop
erty as a site for a new school build
ing which will be erected to replace
the old school when that property is
disposed of.
ISSUES RULES TO ROADS
WASHINGTON COMMISSION SETS
DOWN NEW REGULATIONS.
Requirements Govern Transportation
of Passengers, Record of Car Dis
tribution and Safety Devices.
OLYMPIA. Wash., May IS. (Special.)
-The State Railroad Commission has
promulgated rules and regulations ef
fective June 10 which are to govern
the transportation of passengers, the
record of car distribution and safety
devices. Excerpts from the rules fol
low: Any and all regular-trip tickets sold by
any railroad company in this state for
use within the state at regular or
schedule fares shall entitle the person
1 lawfully holding the same to continuous
transportation Detween points oesienatea
in such tickets at any time within 30 days
from and after the date of sale.
The Northern Pacific Railway Com
pany, the Great Northern Railway Com
pany and the Oregon Railroad and Navi
gation Company shall keep on sale at
every regular ticket office where coupon
tickets are sold In this state mileage
books good for 3000 miles of transporta
tion, which mileage books shall be sold
at not to exceed $50.
Whenever there is by reason of an ac
cident or otherwise a break or obstruc
tion on the line of any railroad in this
state that will probably delay any pas
senger train on such railroad. 30 minutes
or longer, it shall be the duty of said
railroad company to cause notice thereof
to be bulletined at all stations between
such passenger train and the place so
obstructed.
Ail the railroads doing business in this
state shall keep at each station, having
an agent, a record, of car distribution.
All the railroads doing business in this
state shall equip the rear platform of
every passenger train with a suitable
back-up hose as recommended bv the 11th
annual convention of the Air Brake As
sociation in 1904.
PREVENT BASEMENT FIRES
Executive Board Orders the Installa
tion of Patent Apparatus.
The executive board of the City Coun
cil has decided to compel every business
house and' every warehouse using base
ments for storing goods to install pat
ent floor pipe casing holes. This equip-
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j W. C. CAMP'S NEW RESIDENCE, TWENTY-SECOND AND WEIDLER STREETS,' IRVINGTON.
t . . . .. Jl k .M..Mi.'J..i ....... M..jM .xmm i.o u.a
ment consists of pipes leading from the
first floor of a building into the basement
and in case of fire in that part of the
building may be used for introducing
water for flooding the basement, greatly
expediting the 'work of the fire depart
ment in extinguishing such fires, when
the smoke Is too dense for the firefight
ers to enter.
Many property owners are supplying
this apparatus and those failing to com
ply with the orders of the board are lia
ble to a fine of $100.
The application of the Fisher-Thorsen
Company to Install four tanks having a
capacity of 14,000 gallons each in a ware
house at East Water and East Salmon
streets was by the board referred to the
fire committee which has under consid
eration an ordinance requiring the Stan
dard Oil Company to remove Its tanks on
the East Side. '
PIONEERS MEET JUNE 19
Plans Completed for Annual Reun
ion to Be Held in Portland.
Arrangements are being completed for
the thirty-fifth annual reunion of the
Oregon- Pioneer Association, which will
be" held" In this city, Wednesday, June 19.
Headquarters for the Association have
been established In the rooms of the Ore
gon Historical Society in the City Hall,
where badges will be distributed begin
ning Monday. June 17. The Indian War
Veterans will hold their annual meeting.
Tuesday, June IS.
The Pioneer Association will convene In
the Armory at 8 P. M. June 19, when a
literary programme will be rendered.
Among the numbers will be an address
of welcome by Mayor Harry Lane, a re
sponse by Judge M. C. George, 1851, of
this city, president of the association;
and a short address by George H. Himes.
who has been secretary since 1886. Fol
lowing these exercises the annual ban
quet will be served under the direction of
fhe Pioneer Woman's Auxiliary, Mrs. C.
M. Cartwrlght being chairman of the
committee. The annual business meet
ing of the association will be held at
7:30 P. M. and this Bession will be fol
lowed by an "experience meeting," which
will be conducted by Colonel R. A. Mil
ler, 1854.
The usual reduction in rates to those
attending ' the' association has been an
nounced by the transportation companies.
TROD ON OTHERS' RIGHTS
Landowner Must Pay for Injuries
Done to His Neighbors.
SPOlCANE, May 18. An important ver
dict was rendered this morning in the
United States Court in a suit of E.
Dempsey against the Philadelphia Se
curities Company for $3000. The Jury re
turned a verdict of $2625 damages.
The suit was brought on the ground
that the Windsor block, owned by the Se
curities Company, was used for immoral
purposes and Mr. Dempsey's adjoining
property had been injured on account of
siK.ii a business being conducted in close
proximity. It is stated this gives a prece
dent, allowing other property owners to
bring suit and may result In moving the
immoral district from its present location
in the heart of the city.
Hoo Hons to Meet at Raymond.
RAYMOND, Wash., May 18. (Spe
cial.) The Hoo Hoos will meet in Ray
mond Saturday, May 25. It is expected
that from 150 to 200 prominent lum
bermen and mill owners of the State
of Washington will be present. They
will convene in Dixon's Hall at 8
o'clock, and later in the evening a
banquet will be served in the Cafe
England.
Terror to Stray Cows.
E. U. Rayburn, the new Deputy Sheriff
for the Mount Scott district, at Lents, is
"rounding" up stray cows in a way that
strikes terror to the owner. The owner of
a herd of milk cows In that precinct who
had been somewhat arrogant made hia
boast that hU cows would not be Impound
ed, found later that Deputy Rayburn-was
not a man to be fooled .with. Not only
were his cows locked up, but the owner
helped to lock them up at the earnest re
quest of Deputy Rayburn. The cows were
found running at large.
Tolstoi Acquitted, Book Guilty.
ST. PETERSBURG, May 18.-Count Leo
Leonovltch Tolstoi, son of the famous
author, who was arrested In February
last, charged with high treason on pub
lishing his father's latest political panr
phlet, has been acquitted. . The court de
cided that the Count had no criminal' In
tent In re-publishing the pamphlet, which
was printed abroad, but ordered the Rus
sian edition to be burned and. the plates
destroyed.
RISER KODAK DEVELOPING.
Imperial hotel Also Scenic Photos.
JUST OPENED
The Beautiful Addition of
ROINTON
STREETS GRADED, WALKS PARKED 'AND
GRAVELED, WATER PIPED TO
EVERY LOT.
All improvements made and paid for before you buy,
your lot.
Lots' 50x100. Prices from $175 Up
Terms, $5 down and $5 per month.
We give 5 per cent discount for cash. Abstracts
with deeds.
Do not buy until vou have seen Lorrinton. Take
"W-W" car at Third and Yamhill streets, and get
off at Woodstock Station. There the big sign points
the way. . '.
MOORE REALTY CO.
268 STARK STREET
ROBERT NEWTON, Agent
at office on the ground. Office always open. Come out
- today. '