THE SUNDAY OKEGOMAX, PORTLAND, NOVEMBER 3, 1907
FUTURE IS BRIGHT,
"DECLARE -DEALERS
the rommonly accepted" meaning of
that term.
A glance at statistical returns tor
1907 up to the present time gives abso
lute confirmation of the prosperity of
the city. The amount spent on -building
is one of the best criterions of
prosperity, and Portland's record In
construction is all that could be de
sired. More than J2.O00.000 has already
been spent this year in excess of the
entire amount . paid for building in
1906. Real estate transfers for the 10
months are little less than for the
entire 12 months of last year; and In
bank clearings and postal receipts the
record is ecually encouraging..
ACTIVE RESPITE
--MONEY SHORTAGE
NOTHING WILL STOP CONSTRUCTION WORK AT
Soundness of Portland. Real
Estate Market Was Never
More in Evidence.
Many Sales of. Real Estate
Closed During Week on
the East Side.
AYOC
CLI'BHOISES FOR THE CARMEN
PARK
DEMAND STRONG AS EVER
Sales of Week at Top Prices, In
cluding $133,000 Transaction,
- Itefleet Confidence of the
Public in Local Property.
Real estate dealers are not discour
aged by the financial stringency of the
past week and believe that It will have
little effect on the srasorTs business.
Luring the past wwek, with -five spe-
Four Buildings to Be Erected by
Railway Company.
In an address before the Brotherhood of
Electric Railway Employes of the Port
land . Railway, L'ght & Power Company.
Monday night, , President B. S. Josselyn
announced that plans were being prepared
for two clubhouses for the employes,' one
to be built at Milwaukie. and the other
at the Piedmont car barns. These club
houses will cost JlO.OfO each and will be
for the use of the carmen. They will be
modern, with reading, billiard and card
rooms, :ymnaslum, - baths, ' committee
rooms and other conveniences. Some
thing of this sort is now' maintained at
Piedmont by the men In the second story
of the office, but it Is very small. The
other elubluvise will be built either at
MILwaukie-or S.llwooi. These two club
houses will be built first, and two others
will be put up later, one at the East
DEALERS ARE CONFIDENT
peclare That Prospects Are' Bright
for Busy Winter and That the
Present Market Shows
No Falling OK. '
While under the circumstances East
Side sales during 1 Ihe week were cut
down, owners and agents are still opti
mistic, and report considerable inquiry.
Real e.stare men predict a general move-
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RKSIUKVC-B OF (HARI.BS BKU1IK, M.iDIMO.V, BETWEEN KIXG AND , ST. CXAIR STREETS.
clal holidays, the market was'riaturally
somewhat less active than usual. Even
with these conditions, however, buying
was by- no meana at a standstill, and
the fact that numerous sales were
closed shows that there has been no
loss of faith in local realty.
The deal that attracted more atten
tion than any other was the purchase
of the Burkhard block, on the north
sine or n,ast uurnstde street, between
tirand and Union avenues, for $13.1,000,
by Arata Bros. Although options on
, this property were held by H. W.
I.empke & Co., it was In no sense a
holdover transaction, negotiations be
ing begun and closed during the week.
Arata Bros, have made big profits In
all previous operations in Portland
property and their purchase at the
present time will have Its Influence
toward encouraging other large deals.
lt Is probable that the new owners
will spend considerable money in im
proving tne uurKanrrt niocK. it lias
14 stores on the ground floor, a Ma
sonic hall and 141 rooms and offices on
the floors above. Every apartment in
the building is rented, and it is one
of the best-paying properties on the
Kat Side. -
Another sale of considerable size Just
made Is that of 124x100 on the north
east corner of Twenty-fourth and Pet
tygrove streets. This property was
owned by Henry Melster and has been
bought by the Fidelity Trust Company
for $'2,500. There are four dwellings
on the lots.
Purchases Residence Corner.
P. G. Carlson has closed the purchase
.of the residence property owned by
Van B. DeLashmutt at the northeast
corner of Fourteenth and Columbia
streets for $15,000. The property is
SlxlOO and is occupied by the old
leLashnyitt residence that will give
way. to a modern apartment-hujise. Mr.
Carlson has not definitely decided on
plans for this building, but it isan
nounced that the cost will not beess
than $30,000. .
These sales and the smaller ones that
have been made reflect the steady tone
of the local market. It is everywhere
recognized that the financial- disturb
ance is In no degree caused' bv local
renditions, and it Is declared that buy-
X will go on in increased volume as
soon as Portland adjusts Itself to. the
situation caused by the Eastern f lorry.
"As soon as the present flurry Is
over, which will not be long, diialing
in the real estate market Will go on
as If nothing had happened." said
Ueorge E. Watklns. of the firm of Par
rish. Watkins & Co. "Everyone who is
familiar with conditions here knows
that all is sound and that the outlook
was never brighter than at present.
Portland property is paying good reve
nue, Is bound to advance In value with
the Inevitable growth of the city, and
furnishes gilt-edge investments.
"Considering the holiday proclama
tion, the past week has been a surpris
ingly busy one.1 Inquiry Is steady and
people are prosperous and In a position
to buy. Not -only local men but also
outsiders with money are looking for
investments here, and even during the
present trouble in the East inquiries
from Eastern men are being received."
Prophesy Active Market.
This confident sentiment Is a reflec
.lot of the general opinion held" by real
estate men. Not only do the dealers
look forward to an active market, but
owners both of Inside and outside
property are experiencing no uneasi
ness. Prices are absolutely firm and
on evry side, is heard the statement
that there will be no depression of
Portland real estate values. The sales
that are being made are at top-notch
prices. ,
This is regarded as the result of a
condition that has always been re
marked of Portland realty, namely,
that prices have, not been boosted be
yond a revenue-paying basis. It is a
...... -'.. v iiini. in iuiit-s vi- mone
tary stress speculative values are-'af-fected
and the local market has been
remarkably free from "speculation in j
on
tlx
Twenty-eighth-street car barn, where
there is a lar:e number of men employed.
Plans for the first two clubhouses will
be- completed In about two weeks' time,
when the contracts will be let for their
construction.
Before the death of H. W. Goode, the
former president of the Portland Railway,
Light & Power Company, plans were e
Ing prepared for four such clubhouses,
but were dropped until President Josselyn
took -up the matter. It is conceded that
the establishment of this systern- of club
houses for the carmen as proposed will
do more than anything else to promote a
harmonious relation between the carmgn
and the company.
'
CEMENT BLOCKS FOR BUILDING
Three Structures Now Under Con
struction on East Side.
H. B. WUkins Is having a building erect
ed In Rose City Park, which will cost
$7500. It will be two-story and 50x100.
The ground floor will be devoted to stores
and the upper floor to apartments. It will
be built of cement blocks, and will be one
of the largest buildings erected in that
addition.
A two-story concrete building on the
corner of Russell street and Rodney ave
nue is being finished for L.. T. Perry.' It
will cost about $10,000 when finished. The
report that it had fallen down had no
other foundation than that a cornice
dropped off. Tile structure has a very
solid appearance. M
The foundation Tor a reinforced con
crete building 50x100 is being laid on
Union avenue and Going street, at High
land, for E. J. Haleht. It will be two
stories high arid cbst $25,000.
ment to purchase realty. Some fair sales
were made during the week. A quarter
block on East Third and East Davis
streets brought $14,000. A corner lot and
brick in Lower Alblna were sold for $12,
000. On the Sandy River, south of Trout
dale, a 42-acre tract brought $8000, a rec
ord price for land in that neighborhood.
At Rockwood on the Base Line road a
35-acre tract has. Just been sold off in
five-acre lots. One real estate, man in
East Portland announces that he. ha six
sales pending to people who could not
"find houses for rent.
John P. Sharkey said: "Fourteen years
ago when-we had hard times people had
gone land mad. Lots on the East Side
thatwe are now selling for $CC0 were thea
sold for $1200 and higher. When we got
over that financial trouble people invested
In stocks and other securities, but I now
think that the situation will benefit the
realty market. The man who buys a lot
or acreage has something nat wiil stay
with him. He can-, put up a tent and
raise potatoes and live. After all realty
is the safest Investment in Portland to
day." ' .
W. H. Mall: "We are closing up six
sales of residence property this week to
people who were unable to find houses
for rent. We have nothing to complain
of."
Improvements in Moiitavllla.
W. C. Aylesworth. of Montavtlla, said:
"There is a lot of Improvements- being
made In Montavilla in the shape of new
buildings. I am putting up a home that
will cost $2500. Houses are going up all
over Montavilla that will cost from $2500
to $3000. On the Base Line road in what
is known as Rockwood Park we have
been selling five-acre tracts at from $150
to $200 an acre. Most of the tract has
been taken. A very large proportion of
Grading Gang Will Keep Right Ahead All Through Winter
Within the next 80 d
of idli men in the Pacif
will extend across the co
Minneapolis, Omaha, Chic
and every great center i
continental railroad. It
these men go to work
of $1.50 to $2. instead
$2.25 to $3 a day. Portia
lys there will be an armv
ic Northwest, and its files
ntinent, through St. Paul,
ago, St. Louis, Memphis
the path or the trans
is expected that when
gain it will be at wages
f the present wages of
nd Journal, November 1.
More work at half the cost can be accomplished in one month
next Spring, under conditions that will then exist, than could be
accomplished all Winter, with the present scarcity of labor.
r You will ride from Portland all the way to Tillamook Bay by
train before the end of next year. :
That means two and a half hours to the beach.
That means throngs of people going every day to the one
natural place for a Summer resort Bayocean Park between
the bay and the ocean.
There is just so much of Bayocean Park and there never can
be any additions or annexes to it.
The demand for Summer homes in this unequaled Summer
resort has eaten up the lots faster than we thought possible
sanguine as we were.
Fourteen hundred lots at the present prices of $150, $225 and
$450 is the allotment for Portland and vicinity. Practically 1000
are already gone.
If you secure a lot at these extremely low prices, it must be
quickly, as Ave positively guarantee that yalues will advance $50
a lot the instant the 1400 lots are sold. . -
POTTER - CBAPIN REALTY COMPANY
-402 Couch Building
1 09 Fourth Street
KANSAS CITY
PORTLAND
SAN FRANCISCO
the acreage property along the Base Line I building on Klllingsworth avenue with the
road, seven miles out, has been bought Intention of having a hall on the top
up. It is mainly unimproved, but there i rloor- but tne demand for rooms was so
has been a steady demand for this class
of property by people from the outside
who want to make permanent homes on
small tracts. Montavilla and surround
ings were never more prosperous."
"You can say that $1,000,000 will be ex
pended in improvements in North Albina
the coming year," declared J. H. Nolta, a
well known resident and president of the
Push Club for that district. He men
tioned among the Improvements there the
paving of Klllingsworth avenue for which
a contract has been . let to the Pacific
Bridge Company for $73,000. This im
provement necessitates the relaying of
the tracks of the Portland Railway, Light
& Power Company, for more than a mile,
and which will cost the company together
with its part of the pavement fully $40,000.
Mr. Nolta says that the car company will
extend its brick car barn too feet making
It double its present capacity. There is
a great centralization of the rolling stock
of the streetcar company at the Killings
worth carbarn, which Is constantly in
creasing, and more space is needed for
cars. Fully U00 street railway conductors
and motormen and other employes make
their homes near these barns with the re
sult that a business center is being de
veloped. Mr. Nolta recently put up a three-story
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NEW RKSIOENCK OK ROBERT LIVIKUSTOXI3, MADISON, BETWEEN KI AND ST. CLAIR STREETS.
great that he had to cut up the space in
tended for a hall into apartments. Be
fore the building was completed the lower
part was occupied. Over 100 residences
of the better class are heins built near
Klllingsworth avenue.
The home of J. H. Shields on Vancouver
and Klllingsworth avenues attracts wide
attention.
It. was estimated "at the start to cost
$5000, but this will be exceeded to a con
siderable extent. In Walnut Park, a
fine class of homes is being built, none
under $25C0 and many ranging as high as
$5000. North from Klllingsworth ave
nue nearly to Columbia boulevard fine
residences are- springing up, and the
trees are being cleared away to make
room for others. i
Market Still Active.
Mr. Von Borstel. of Mall & Von Bor
stel, announces that during the week In
spite of the financial flurry they handled
a number of real estate transactions and
found many buyers. "I have been sur
prised," said Mr. Von Borstel, "over the
situation. Men with cash came to us to
loan money at 6 per cent, or to Invest in
realty. I confess that I found no lack
of confidence in realty, and I do not
think that there will be any great reac
tion. As far as the East Side property Is
concerned, it is my judgment that now is
the time to invest. It has never been
high compared with other localities."
In Lower Albina, at the southwest cor
ner of Russell street and Albina avenue,' a
brick building and lot were sold by Philip
Beuchner to O. J. Brown for $12,000. The
lot is covered by a brick building which
is occupied by a drugstore. This Is one
of the most Important sales made during
the week In Albina. A few years ago
this lot brought a much less figure.
C. J. Bassett purchased a quarter block
on the southeast corner of East Third
and East Davis streets from Kadderly
& Perrine for $14,000. The quarter is oc
cupied with four small dwellings, which
bring in a fair rate of interest, but Mr.
Bassett will move these cottages and
erect a modern brick. Property in -this
vicinity is becoming valuable, and it is
expected that the small structures be
tween Union avenue and East Second
street will disappear and be replaced with
business buildings.
Sales of the Week.
M. L. McKenna has purchased a dwell
ing and. quarter block at East Ash street
and Prettyman avenue, at Mount Tabor,
for $4000. At Sunnyslde H. B. Noble pur
chased a residence from E. W. Reder for
$2750.
On Sacramento street, between Union
avenue and East Seventh street, Mathilde
Hesse sold a house and Io to Louis
Maneiker for $3228. At Portsmouth S. A.
Perkins bought three lots for $2500.
J. J. Kunz has ust purchaser 42V4 acres
of land south of Troutdale, on-the Sandy
River, from Thomas W. Martindale, for
$3000. This is considered a record price
for farm land In that neighborhood.
Mrs. Elizabeth Kllppell bought a four
acre tract in South Mount Tabor for $4000
from W. Hayhurst. Mrs. Klippell will erect
a modern residence on the tract. John P.
Sharkey sold his 20-aere farm on the
Powell Valley road the past week to J. D.
Tueke for $U000. The land Is eigl.t miles
(Kim Portland, cleared of brush, 'but not
Improved. The new owner will erect a
dweHing and barn and make his homo
there. F. I. Phillips has sold to E. E.
Myers 11 acres at Kerrigan Station, on
the Estacada Electric Railway, for $7500.
Mr. Myers will make the property his fu
ture home. He recently came from the
East.
Mrs. E. M. Sargent has sold her house
on the northwest corner of East Eleventh
and East Ankeny streets for $fi250. Tt Is
an attractive home on the East Ankeny
carllne.
No better illustration of the steady ap
preciation of valuation can be found than
In the recent transfer of the lot and three
story building on the northwest corner
of East Morrison street and Union ave
nue. Six months ago this corner brought
$35,000. Recently W. B. Walker bought it
for $40,000, and last week transferred it
for $50,000, a gain of 25 per cent. Income
from rentals of the frame building thrt
occupies this corner pays good interest on
the larger sum;
Lots on Russell street, in Albina. for
business purposes, show a decided In
crease in value. Barrett Bros, sold a lot
on Russell street, between Rodney avenue
and Union avenue, for $4000. Henry . .
Donnerberg was the purchaser. The lot
Is occupied by a small cottage, xots have
been selling In this vicinity for $3500.
BAYOCEAN PARK GOES AHEAD
I'nder No Conditions A III Work Be
Suspended.
T. B. Potter, president of the Pot-ter-Chapln
Realty Company, tele
graphed from Kansas City yesterday
that under no conditions must the con
structlon'work at Bayocean Park, the
Bummer resort at Tillamook Bay be
ing developed by his company, be de
layed. He thus expressed his com
plete confidence in Portland in the
plainest manner.
Ever since May a gang of men has
been clearing and grading the hotel
site and streets at Bayocean Park, and
no tightening of the money market,
temporary though It Is, will affect their
work or the original plans. It was
stated by the company yesterday that
sales were made every day last week.
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? 1 t H f V
3
A S
T E N. A 5 T
Bant, 1907 $420.00
" 1908 . 420.00
1 " 1909 420.00
1910 ........... 420.00
" 1911 420.00
" 1912 ........... 420.00
" my 420.00
" 1914 ........... 420.00
1915 420.00
1916 420.00
1917 420.00'
" 1918 420.00
1919 420.00
" 1920 420.00
" 1921 .'420.00
REHT FOR 15 YEARS... $6, 300. 00
Lost Interest....... 700.00
ITOTHIUG TO SHOW FOR $7,000.00
AS AH OWNER
1907- Bulld"a home $1,500.00
1908- Bulld another.... 2,000.00
1909- Bulld a third.... 3.500.00
I2T THREE YEARS .$7,000.00
Income from the 3
houses In 12 years... $16. 560. 00
WHAT THAT RENT MONEY
WILL BE WORTH TO YOU
IN THE FIFTEEN YEARS $23.560.00
Now ask yourself If
It pays to pay rent
or frulld a home that
you can call your own.
Hartman 6 Thompson
Chamber of Commerce
9