8
THE SUNDAY OREGOXIAX, PORTLAND. MAY -24, I90S.
HOMES OF SOME OF THE PROMINENT SOCIAL, FRATERNAL AND COMMERCIAL ORGANIZATIONS OF PORTLAND
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MORE DWELLINGS
GREAT NECESSITY
Renting Agencies Have More
Applicants Than Avail
able Houses.
"INSIDE" BUSINESS DULL
Record of Transfers Indicates Activ
ity In Suburban Lots, as Over
100 Last Week Were for
Under $1000 Each.
The more study given to the evidences
of Portland's growth, the more con-
1 venclng it becomes. The remarkable in
crease in the number of building permits
1 Lsued for additional dwelling houses,
coupled with the absence of "to let"
signs in the old districts of the city, fur-
; nishea ample proof that more people are
. conr1ngrto the city to take up their per-
. manent residence than there are houses
; to accommodate.
And now comes another proof which is
' not only additional evidence of the in
crease in population, but Is interesting in
other directions. Reference is made to
the extraordinary number of new apartment-houses
being erected in the older
districts of the city. Elsewhere in this
Issue of The Oregonian an article Is
r printed showing that in the past five
I months more apartment-houses have been
i built than were in existence in Decem-
(ber. The inference; is that Incoming popu-
; latlon is greater than can be accom
J modated with separate residences.
j Some Doubting Thomases express the
."opinion that building of dwellings is fast
. approaching the limit of tenantry.
Renting agents, on the contrary, report
no falling oft in the inquiry for dwelling-
i houses, but say that many more houses
could be let if they were available. Per-
j mits for building this class of houses
would seem to be of such number that
hundreds of newcomers might be fur
- nished with residences, but still the de
mand Is urgent. There Is only one solu
tion. The new houses are being erected
by those who intend to live in them, and
. the places they vacated are promptly
taken by new residents. The fact that
apartment-houses are filling up as rapid
ly as completed indicates that the popu-
ation is increasing more rapidly than
additional houses are being put up.
During the past week tnere were ,uo
deals In realty that attacted unusual in
terest. The total of real estate transfers
was somewhat above that of the previous
week, but not large enough to indicate
anything abnormal. Most of the deals
were for property that had already been
announced as sold, so that the record
had been discounted. Over 100 transfers
of the week were for amounts under 1000
in stated valuations, apart from the
nominal value records, which numbered
about 100. This indicated continued
activity in lots in platted tracts, for be
side sales of this character made on in
stallments there is a considerable num- :
ber bought outright, and then terms on
the Installment sales are maturing right ,
along.
Dealers are preparing for a lull in realty
business until after the Presidential elec- j
tion. When asked why the election should
cause dullness in the market, no very
convincing reason is assigned. A pos
sible change in the National adminis
tration, they assert, would disarrange
values, at least temporarily, but why this
should be soVs more or less of a buga
boo. The fact of the ,matter Is, as has
been pointed out from time to time in the
last few veeks. there is no realty for
sale in the "old" city. Income producing
properties are strongly held, and the few
vacant, lots and those having inferior
Improvements are mostly tied up in
estates which remain unsettled or which
are devised for terms of years before
they can be disposed of.
Money Walts Investment.
Art occasional sale is made in the
northwest district or on the southern
edge of the business district, and the
figures announced show that valued
are keeping up well, ifcot much East
ern capital is being plf-ed In these in
vestments at present, not that it is not
here through agencies, but simply that
It cannot be placed. Several of the
largest dealers In Portland have had
commissions for some months to take
over business property on certain
terms, but have failed to find the de
sired investment, price being in some
cases the stumbling block. Dealers ex
press the opinion that one of two things
must happen before any considerable
movement in downtown property will
be made holders to lower prices or
buyers be convinced that present val
ues are not too high. From outward
indications the latter is the more likely
solution.
Building permits for the week were
somewhat lower than the previous one.
At the close of business yesterday
there had been 90 permits Issued for
the week, with estimated cost placed at
$193,390. For the month of May to
date there were 315 permits issued, of
'a total cost reported of $647,190.
Work on the buildings of large size
started during the past few months Is
proceeding satisfactorily. At the Y. W.
C. A. at Seventh and Taylojr. the second
story Is now rising; the concrete walls
of the Oregon Hotel annex are appear
ing above the tops of the surrounding
nouses; steel interior or the new Fen
9-0
ton building at Seventh and Ankeny
is going into place, and the Beck and
Board of Trade are near completion.
The contractor for the Y. M. C. A.
building at Sixth and Taylor will have
his material ready in a few more days
(or starting construction on that build
ing, some delay having been occasioned
by reason of the change in plans pre
viously adopted. Alterations in me
Perkins Hotel are about finished and
the exterior has been given a coat of
paint. A store has been cut out of the
office space and new fronts have been
put In for the other Washington street
stores of the building.
There would seem to be a craze for
opening nickel shows. New ones are
blossoming out every day or two. Those
engaged in other lines are beginning Jo
wag their heads and make predictions
that the thing is being overdone. One
thing, at least, is to be said In their
favor, and that is that the little show
fronts, in many instances, improve the
appearance of the streets.
BUYS SITE FOIl APARTMENTS
Upper Washington-Street Property
Brings Good Adrance.
Stephen T. Dove and wife sold last
week to out-of-town parties. 85x100
on Twenty-third near 'Washington for
$11,500, being a substantial advance
in price of the last year. The new
owners are contemplating the erection
of a modern apartment house in the
near future on this property. The sale
was made through W. J. Day & Co.
Plans Wells' Residence. (
Plans and specifications have been com
pleted and contracts awarded for the
erection of ai 12-room modern residence
with full basement and attic, for Mrs.
Lizzie C. Wells, which will be erected at
East Twenty-first and Tillamook streets,
Irvington. This residence will contain
large rooms throughout, with spacious
reception and verandas, stone, setting with
iron grills, tile entrance and bathrooms,
quarter oak treatment on the lower floor
rooms and flat grain fir above, hot water
heating and stucooed second story and
gable work, and will cost 12.000. Work
will start next week and the building Is
to be completed September 15.
CENTENNIAL HIKES DEAL
SELLS FORMER BCIIjDTXG AXD
BUYS FX.ATIROX BUILDING.
FLATIRON BUILDING ON EAST SIDE, PURCHASED BY CENTENNIAL INVESTMENT
Investment Company in Which the
Newspaper Workers Hold Stock
Shows Good Progress.
Through the agency of D. B. Mackie
the Centennial Investment Company last
week, concluded the purchase of an East
Side property known locally as the Flat
iron building. The site and building
were secured by the Centennial Company
from Annie H. Febre at a consideration
Of $17,500.
The frame building on the triangular
piece is two stories in height and- con
tains four stores and three flats, return
ing a rental of $175 a month. The lot Is
bounded by East First, Clackamas and
Quincy streets, the latter being an ex
tension of Williams avenue.
The. Centennial Investment Company
was organized in 1905 and bought as Its
first investment the lot 474x128. at 729
731 Williams avenue, on which is erected
a two-story frame store building, the
second story containing four flats. This
property was said in consummating the
recent deal at $9000, being a handsome
advance over its purchase price.
The new owner of the. Flatiron build
ing is a corporation 'that has demon
strated the earning power of productive
real estate In Portland. Its members are
mainly active newspaper workers in the
service of the daily papers a purely mu
tual company, managed by a board of
directors selected by the stockholders
for their conservatism.
Their policy is to own and operate only
improved business property 1 or to buy
lots in business districts and build.
In the operations of the Centennial
CLUBS OWN THEIR HOMES
POUR LEADING ORGANIZATIONS
HAVE $1,000,000 INVESTED.
Portland Leads the Country ' in
Number of Handsome Buildings
Devoted to Social Purposes.
There Is no city in the country that
can excel Portland in the number of
handsome buildings owned by clubs and
fraternal societies. A picture is printed
in. this issue of The Oregonian showing
the homes of four of the leading clubs
of the city. These buildings are owned
by the organizations occupying them,
which in itself is unusual in most cities.
The Commercial Club is the latest of the
organizations to occupy Its Own club
rooms and the Arlington the first.
The present officers of these clubs fol
low: ArlingtonJohn M. 'Gearin, president;
W- A. Goodwin, secretary.
Commercial C. W. Hodson, president;
E. L. Thompson, secretary.
Concordia Max Fleischner, president;
Ionis Rau, secretary.
Elks John B. Coffey, president; Clyde
M. Bills, secretary.
On estimates made by realty dealers the
values of these properties is placed at:
Arlington From $125,000 to $180,000.
Commercial From $450,000 to $500,000.
Concordia From $100,000 to $125,000.
Elks From WOO.000 to $350.000. .
Hunan phon nt the feet. Roserrhfcl'i
Just What a Woman Wants
Tint Your Rooms "With
Washable Kalsomine
Costs less than the ordinary
kalsomine. whirl fades and rubs
off. No trouble to call and ex
plain our process, and give esti
mates on your work.
Portland Branch,
Pacific Wall Tinting Co. .
Telephone, Woodlawn 2158.
Investment Company are combined the
principle 'of systematic savings, safe in
evstment, largest income from realty
holdings and all profits that accrue from
the natural,. increase- in values that ap
fily to growing cities. Added to this is
a perieci .ymn iui bu chiimuj' ms liio in
come that all of it is compounded month
ly at the same rate as the original in
vestment. Its accumulative power in 10
years under wise a.nd conservative man
agement is so great as scarcely to be be
lieved by persons .unfamiliar with the
subject. It furniBhes an Incomparably
profitable investment whichxught to be
taken up by thousands of wage-earners
in Portland through corporate organiza
tions. Without ever incurring even a remote
hazard, the Centennial Investment Com
pany has earned over 18 per cent a year
for the stockholders. In periods of de
pression, when reduced earnings may
reasonably be expected, the dividends
are cot likely to be4ess than 10 per cent.
The .Flatiron building is an illustration
of safe and profitable Investment. ,
BUYS FARM OS ELECTRIC LINE
E. J." Daly Secures 9i2 Acres Near
HlllsDoro Extension.
E. J. Daly has just purchased the Rutt
place, consisting of 92 acres, on the line
of the Oregon Electric Company's pro
posed extension to Hillsboro. Consid
eration, $12,500. This place Is opposite
the Sam B. Stoy ranch, which produces
apples that bring $3 a box in the Port
land market. It Is expected when the new
extension is completed to Hillsboro, this
land will be cut up into acre tracts.
There is considerable activity In this sec
tion and mamy sales are said to be under
consideration.
Mr. Daly reports the sale of 50x65 on
the southeast corner of Twenty-fifth and
Northrup streets. Consideration, $3600.
The purchaser, whose name is withheld
for the present, expects to put up a tour-
series flat on the property. .
I. COMPANY. t
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LIGHT IS LIFE
Nothing adds more cheer to the home, hotel, of
. flee or display window than artificial lighting.
See ( t
THEM. J.WALSH CO.
Fine line of Lighting Fixtures and Supplies. If
you see them you will buy them.
SALESROOMS) 311 STARK. BET. 5th AND 8th.
BOTH PHONES.
All Kinds of Electrical and Gaa Work Prompt
ly Attended To.
DAVIS & DRENNEN
406-408 East Burnside Street.
Gas and Electric Lighting Fixtures
Sold direct from manufacturer to the consumer the highest quality
at the lowest prices. Do not fail to get our prices.
Fixtures Built to Suit the Home v
B. E. DAVIS Phone B 2151, East 591. H. T. DRENNEN
PACIFIC IRON WORKS
O. E. Heintz, JCanager. Phone East 57, Home B 1157.
CASTINGS OF ALL KINDS,
STEEL BUILDINGS AND BRIDGES
IN STOCK 3 to 24-Inch Beams. 4 to 15-Inch Channels.
l'2xlV3 to 8x8-Inch Angles
w
.Beautif e
ayeoei
Is only 12 minutes' car ride from Third and
Morrison.
Is building fast: 17 new houses just started.
Is supplied by two carlines.
Is supplied with Bull Run Water.
Is supplied with engine-house, fully
equipped.
Is supplied with electric lights and tele
phones. Is in full view of the city.
Is in full view of all the mountains.
Is high, sightly and level, and has rich soil.
Is the only place to live and enjoy life.
Is Portland's most popular and progressive
subdivision.
Streets . graded, cement "walks, Bull Kun'
water. .
LOTS $450.00 AND DP
$25 DOWN AND $10 PER MONTH
On Monday, May 25, 1908
All unsold lots will be advanced $50 each
Buy now, make money.
Take W-R.cars and get off at East Thirty
fourth street. Select a lot today. Our
agents on the ground all day.
JN0. P. SHARKEY
COMPANY
122 Sixth. Street.
A 2537 Phones Main 550.
East Xnd Bumsida-Street Bridge,
Portland, Oregon.