The Sunday Oregonian., July 05, 1908, SECTION THREE, Page 10, Image 30

THE SUNDAY OREGOXIAX, POSTLAXD, JULY 5, 1908.
DEALS THAT TELL
THESE ARE SPRINGING UP
EVERY HAND, DENOTING PORTLAND'S GROWTH
Sales Involving Large Amounts
Have Strengthening Ef
fect on Conditions.
T. B. WILCOX SHOWS FAITH
10
(HOMES LIKE'
H REALTY MARKET
! Him H ' ' I IT , gtlTl
Future of City Recognised by In
vestors aa Assured and They Be
lieve Valuations Will -Not
Be lvOTTerfU.
It wu a case of the unexpected hap
pening when two big realty transactions
were announced In a single day last week,
amounting to upwards of HS0.000 In con
siderations, at a season when a dull con
dition of the market Is counted upon. The
majority of realty dealers In Portland
have been saying for the last few weeks
that nothing much could be expected In
their lino before Fall, basins the opinion
on past experience. The Portland realty
market, however, no longer can be pre
dicted on figures or conditions of a few
years ago. for new valuations are being
made in shorter and shorter periods, and
the Portland of today is a new Port
land, whose history began with the
world's fair. In 1906.
In the record of building operations
there have been more large -structures
erected In the last five or six years than
In the. rest of the history of Portland
put together, and In the matter of resi
dences the proportion is greater by far.
These new buildings, occupying vacant
lots, as a rule, naturally lessen the avail
able realty of that character, with the
result that city lots with inferior improve
ments must be looked to by Investors
who would build good Income-producing
buildings in the older districts of the
city.
Shows Confidence in Portland.
T. B. Wilcox is recognised as one of the
best authorities in Portland on values,
both of real and personal property, and
when a purchase is made by him of such
sise as the quarter block at Seventh and
Stark, in the very heart of the city. It
may be taken for granted that he regards
the price paid. $160,000, as a fair one, and
yet one that will bring a good percentage
of revenue when built upon with a struc
ture commensurate with the demands of
the locality and prospects for the city's
continued advancement. Mr. Wilcox has
frequently announced his belief in the
present importance of this city and its
ultimate position among the great cities
of the country. He has by this purchase,
and announced Intention to build a cred
itable structure on the site, given the
best and most convincing evidenoe of
the sincerity of his utterances.
With men of the standing of Mr. Wilcox
moving in the direction of improving the,
city for there are others holding the
Bame opinion In this regard the effect on
the realty market will not be long ma
terializing. Since Thursday, when the
two big deals were announced, that of
the Stark street purchase and that of the
Kings Heights sale of acreage through
D. E. Keasey. carrying a consideration of
J2RS.000. realty men have changed the
tenor of their talk. Where they said be
fore that an active market was to be
expected In the Fall, they say the mar
ket is all right now and has been straight
through for two years, at least. There
was a little timidity, they now recognize,
a few months ago. but that has passed,
and the opportunities are here for as
good Investments as ever there were.
Xo Boom Symptoms.
Valuations on desirable pieces have not
been allowed to soar to the danger point,
and while nearly every sale of conse
quence made in the last year or two
has brought handsome advances over pur
chase prices, there has been no evidence
of unhealthy inflation. Every day there
is more or less business done by each
dealer In realty, either in city and sub
urban property or acreage, and while not
all have "pulled off" big deals with much
frequency, there is a steady Increase In
the handling of "small stuff." which when
totaled at the end of the month foots up
a handsome figure.
The Melinda Heights sale is Important
In more ways that In the amount Involved
in the transaction. For one thing, it will
put on the market shortly another tract
of desirable residence sites, and at the
rate such sites have been picked up in
the past year or two, the new ones will
not long remain In present hands. The
future of Portland Heights has been as
sured for some time, and this addition to
available building locations will be ready
to keep up the supply when the present
lots begin to command fancy prices.
Summer Dullness Absent.
But with all this attention directed to
the Heights, East Side new residence dis
tricts arc not lost sight of by any man
ner of means. Selling agents seen dur
ing the latter days of the week to a man
reported tales of lots all along the out
skirts of the creat East Side to be keep
ing up to a remarkable extent. One agent
remarked that he was at a loss to account
for the continued activity in the market
for lots in the recently platted districts,
meaning the last few years. He said sales
were being made not only to citizens of
Portland and Oregon, but a large number
to people of other states, and that the
coming of Summer so far had but little
effect on the volume of business done.
"And the best thing connected with the
business is that dwelling-houses are being
built all over these new districts at a
rate that exceeds anything I've ever heard
of elsewhere," he continued. "I have come
to the conclusion that if I had a lot of
money to Invest. Id start out on the
street and tnke the first piece of Portland
real estate offered to me. I would sr..
ly ask where it Is located, so confident
am 1 that a man cannot make a mistake
in buying realty in this citv and sub
urbs." Outisde Capital In Hand.
There continue to be reports of outside
capital In the hands of some of the lead
ing brokers for Investment in Income-producing
realty, and there continue to be
the same reports from these leading brok
ers that the class of property desired is
not in the market. A solution of the mat
ter will certainly come In the next few
months, according to one of the oldest
realty men In the business. He explains
that the so-called business district of the
West Side must be extended north and
south, and that, as a matter of fact, is
bo extending, gradually but surely. The
result is that business blocks bordering
the old defined district are attracting at
tention, and will be accepted by outside
Investors when they study conditions as
they really exist. t
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iga, t;::;,- - ., -J DEPARTMENTS KEPT BU
FAIR
BUSINESS
INDICATED
Residence Property Sells in Old
Part of City.
Several deals for "city" lots and resi
dences were made last week which In
dicate that wbover an owner of prop-
invention has received commendation in
several mcchar-ical trade publications and
Is indorsed by engineers in different parts
of the country. The inventor decided
not to apply for a patent on his device,
saying that he considered its adoption s
matter of public welfare and a safeguard"
to health.
Metzger fits glasses for $1.00.
erty situated well In desires to sell
there Is no lack of opportunity to find
a buyer. One of the highest-priced
home places bought during the week
was the northeast corner of Twenty
fourth and Flanders streets, which was
taken by George W. Bates, the Albina
banker. There is a 12-room house on
the premises which is considerably out
of date, but which must have cost
something like 520,000 to build. It is
Mr. Bates' intension to remodel the
residence, and when finished he will oc
cupy it with his family. The deal for
the property was made through Joseph
N. Teal, who represents the former
owner, Mrs. Blakeslee, a resident of
Connecticut. The house was built by
W. G. Wallace, the florist, who died
several years ago. The figure paid for
the property is withheld for the
present.
E. J. Daly sold Friday a lot 60x100
on Northrup, between Twenty-first and
Twenty-second streets, for $3750. The
purchaser does not desire his name to.
be given at present, but it is known
he Intends to erect a modern flat build
ing on the lot, which Is now vacant.
Devlin & Firebaugh reported the sale
of the following: tot IS, block 12,
Goldsmith's Addition, for $4000. The
purchaser's name is not given: lot 7,
block 118, Irvington, to C. C. Follett, of
Hillsboro, consideration $1250.
T
P'
Another Landmark Goes.
Wrecking of the old Globe Hotel and
adjoining buildings on the northwest
corner of FTOnt and Couch streets was
started Friday of last week by C. J.
Cook & Co. The ground is being
cleared for the ewners, the Diamond
Brick Company, George W. Bates, presi
dent. Mr. Bates secured the quarter
block from E. Wemme about two
months ago at a consideration of $27,
500. When the old buildings are re
moved it is the intention to erect a
small office on the corner and utilize
the balance of the ground for a storage
and sales-yard for the brick company
and for the Oregon & Washington
Sewer Pipe Company, whose works are
located on the Columbia River near
Vancouver.
New Addition Platted.
Another new tract to be known as
Floral Park has just been added to the
city and put on the market by Heilman
& Lathrop. This addition comprises about
100 lots and is located 12 minutes out on
tne Sellwood line, at the intersection of
Ellis avenue. Suitable building restric
tions have been arranged to prevent the
erection of undesirable structures and the
announced intention is to make this a
good location for smaJl and inexpensive
homes.
To Lewis ton Without Change.
The O. R. N. all-rail Riparia-Lw-iston
line will commence dally opera
tion Monday. July . This service in
cludes a through Pullman car. leaving
Portland at 8:15 P. M., arriving at
Lewiston the following morning at 9
o'clock. Returning leave Lewiston 7
P. M.. arrive Portland 8 A. M. the fol
lowing morning.
Kruse's Beach Hotel, now open. For
reservations and rates apply to J. D.
Kruse, lessee, Gearhart Park, Or.
LARGE BUILDINGS UNDER WAS
AND BEING STARTED.
Hnudreds of Business Houses and
Dwellings in Process of Erec
tion in Portland.
Among new buildings of an expensive
character that are about to be started,
or which are under way, are the fol
lowing: Meier & Frank, 10-story department
store building at southeast corner of
Sixth and Alder streets.
Y. M. C. A., at Sixth and Taylor. -
Y. W. C. A., at Seventh and Taylor.
One-hundred-thousand-dollar ware
house and dock of the Spokane, Port
land & Seattle R. R-, at foot of Ral
eigh. Parlln & Orendorff warehouse. South
ern Pacific and Belmont
Wallace & Devlin, warehouse, same
locality.
Cadwell & Burkhart, office building.
Second, near Alder.
Oregon Hotel annex. Park, near Stark;
Fenton Building, Seventh and Ankeny.
Pacific Paper Company, Fourth and
Ankeny.
Lombard. Fifth and Stark.
Good Samaritan Hospital, new wing.
T. B. Wilcox, Seventh and Stark.
Chinese office building. Seventh and
Yamhill.
Union Meat Company, packing plant,
Columbia slongh.
Rosenblatt Hotel, Tenth and Alder.
Crane warehouse. Thirteenth and Irv
ing. Blumauer-Frank Drug Company,
West Park and Everett.
Chinese building, northeast corner
Flanders and Fourth.
Arthur L. Finley building, Sixth and
Salmon.
Portland Trustee Company, Pennoyer
block, for Olds, Wortman & King.
Board of Trade, Fourth and Oak,
being occupied.
There are several others of little less
estimated cost, which, with the fore
going, make a list of building opera
tions in sight of much significance to
those who are interested in Portland's
extraordinary progress toward becom
ing a leading city of the country. In
the list given above no record is taken
of new church edifices and schoolhouses,
apartment houses and flats, which, if
added, would make a list two or three
times aslong. About 1500 new dwel
lings are under process of erection, and
every month adds upwards of 400 to the
starting class. No estimate can be
made of the average number of dwel
ling houses reaching completion each
month.
NATIONAL- BOARD IS FORMED
Real Estate Dealers Organize In
Central Body.
There was organized at Chicago. May
12,, an association composed of 20 real.
estate boards and exchanges from differ
ent parts of the country. This was but
the start of what is expected to be a
National body, with a membership em
bracing every city of Importance in the
United States.
At the meeting called for organizing
this association there were delegates
from the Real Estate Association of Bel
lingham. Wash., Los Angeles Realty
Board, Seattle Real Estate Association,
Tacoma Real Estate Association and
California State Realty Federation.
The constitution adopted by the asso
ciation declares the object of its forma
tion to be "to unite the real estate men
of America for the purpose of exerting
effectively a combined Influence upon
matters affecting real estate interests."
As one outcome of the formation of the
association the executive secretary has
issued the first number of United Realty,
which is published under the auspices of
the association and which is to be the
exponent of matters affecting real es
tate Interests in all parts of the country.
This1 initial number Is given over large
ly to a complete record of the proceed
ings of the convention and newspaper
comments, the latter being exceedingly
eulogistic of the aims and purposes of
the body.
Active work Is to be done by Edward
A. Halsey, executive secretary and man
aging editor, to build up the association,
and doubtless the Portland Realty Board
will be urged to become a member of
the National body.
Defense of the American Navy.
The third broadside from the pen
of Rear-Admiral W. L. Capps, in reply
to the criticisms of Henry Reuterdahl,
appears in the July Sunset. The author
deals In this, his third article, on the
much-discussed direct ammunition
hoist- '
INSPECTOR OF BUILDINGS AND
PLUMBING" RUSHED.
William Hey Invents Sanitary
Drinking Fountain, Which He De
clines to Patent for Self Gain.
Guy B. Dobson, City Building Inspector,
who was, before his appointment deputy
under W. Irving Spencer, is displaying
much activity in the conduct of the office.
He recently took a stand in opposition to
the Council grant of a special permit
which he contended successfully was
contrary to the provisions of the build
ing ordinance, and now has proposed an
amendment to that ordinance with the
object of doing away with wood buildings
used for theaters. With his chief deputy,
W. K. Benvle, and the Inspector of
Plumbing, William Hey, the departments
are kept busy to the limit of capacity for
work In keeping abreast of the demands
upon them Incident to the extraordinary
building operations under way and pro
jected. In addition to Mr. Dobson and Mr.
Benvie the force in the Building Inspec
tor's office consists of J. H. Lelst, deputy;
Orrln Backus, engineer and computer, and
Miss Inez Buckner, clerk.
In Mr. Hey's department are C. Bar
ren, assistant Inspector; Robert Simpson,
deputy; George Otterstedt, deputy, and
Miss Eleanor B. Moore, clerk, who also
has charge of the Health office.
Mr. Hey recently contrived an indoor
drinking fountain for use in schools and
similar places where many persons are
to be supplied "with water. The fountain
Is constructed on plans which provide
constant automatic cleansing and la
trapped to render the whole appliance
sanitary in every particular. Mr. Hey's
M. J. WALSH CO.
Salesrooms, 311 Stark Street.
Designers and Makers of Fine
Lighting Fixtures
Catalogues containing the latest exclusive de
signs sent free to builders on request. A full
line of electrical and gas supplies always on
hand. Electrical and gas work of all kinds
promptly attended to. Ring up on either phone.
PACIFIC IRON WORKS
O. E. Heintz, Manager. 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.
lVixl'a to 8x8-Inch Angles
BEAVERTON-REEDVtLLE
ACREAGE HOMES
"The Pasadena of Oregon
21 Acres,
8-Room House.
Price $7000.
$2000 cash.
11 Acres,
7-Eoom House.
Price $4000.
Terms.
10 Acres,
7-Boom House.
Price $4000.
Bargain.
Go with ub
any day in the
week to see
these tracts.
Call or phone
A 3500.
245V2 Stark
Street.
Within 10 miles of Portland, on good public
road, one-half mile from good railroad station,
facing public school ; 10 acres 2-year-old "Win
ter apples, rich soil, good well of water, good
house and other outbuildings. $2000 cash, bal-'
ance to suit the purchaser.
A well-improved, highly cultivated tract, lo
cated on good public road; has a 7-acre apple,
orchard of best 2-year-old Winter apples, good
well, house and outbuildings. $1000 cash, bal
ance easy payments.
Highly cultivated, facing two public roads;
all well fenced; small orchard, two wells, new
barn, chicken-house, etc. One of the best buy3
within 10 miles of Portland.
Our 5 and 10-acre tracts in this locality are
becoming more and more in demand. . They
may be selected in any stage of development
from the unimproved timber tract to the high
ly improved land with fine buildings, orchard,
etc. These lands will yield a handsome return
on the prices asked, and by reason of their
proximity to Portland and the great develop
ment, including electric lines, will increase
very rapidly in value. $150 to $250 per acre,
and on very easy payments.
THE SHAW-FEAR COMPANY
ast End Buxnside-Street Bridie,
Portland, Oregon.
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
B. E. DAVIS Phone B 2151, East 591. H. T. DRENNEN