The Sunday Oregonian. (Portland, Ore.) 1881-current, August 09, 1908, SECTION THREE, Image 30

The Sunday Oregonian., August 09, 1908, SECTION THREE, Page 8, Image 30

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Newspaper Page TextTHE SUNDAY UKEGOyiAX, PORTLAMD, AUGUST 9, 1908. 8 popti AND KNTslBUILD HANDSOME HOMES IN BEAlHIFyLSlJ CITY INVESTMENT Capitalists Look With Much Favor on Portland Real Estate. MARKET TAKES NEW LIFE 9 5 v MONEY GOES INTO V -V H y , Fell! - f II II H F t.- -fi I Eastern Visitor Amared at Number and Character of New Orrice Buildings Erected In Lst Few Years. Apart from appearance. Improvements presently to tie made on inside sites, that for vears were the despair of resi dents of the city when showing visitors around, will produce direct commercial effects that will be most pronounced. In the week Just ended there were several notable instances of deals made that can be traced to the Influence of recent large transaction made by local capitalists. The fact that Portland real ty was regarded as offering a better in ducement than other forms of 'nyes ment to men of wealth who had lived h-re for years and knew the situation thoroughly, had an effect on the more timorous and less well Informed that has been In evidence every day since those big deals were announced. There Is hardly a real estate man in Portland who has not felt the benefit of the unusual braclng-up of the market in midsummer, and In casting about for a reason. It Is found that dealers to a man believe the recent transactions are responsible for the excellent tone In evi dence, not only among dealers In Inside holdings, but in outside lands as well. Invest in City Ixt. r L ' KM r r n Cases have come to the surface of men earning large sums of cash who have k..ki tr,M lots with '.r.tentlon to build business houses or who have bought improved property at d tin prices It Is simply a matter of receiving a higher rate of Interest on the invest ment than is to be found In any other form of investment. Those who take the trouble to Investi gate no longer doubt the assertion, made time and again, that the value of realty In Portland Is below that ruling in cities of Its relative slxe and importance. In a recent issue of the Los Angeles Times appeared the following: Thorn.. Huhe. is reported to to J T Torran-. of the Union Oil Com pany, a' lot Oxl89 feet on the -west side of f,,iy between Seventh and Elgntn fta for l0.noo The consideration I. Vt the rite of tsoon a front foot and the property is practically unimproved. This m.y be taken a. a fair valuation of real estate in that section. When an inside lot on the- principal street of Los Angeles sells for $3000 a front foot, whereas a corner lot on Washington street. Portland. Is valued at little more, there is furnished food for thought. In figuring relative values It should be borne In mind that lots "ere are 60 feet, with 100 feet depth, while In the Southern city the lots re 60 fee. front and 150 feet deep. There are no data at hand to indicate what percentage In vestments In this class of property, im proved. In Is Angeles brings to the owner, but in this city, on present valua tions, from 7 to 9 per cent is expected and Is realized. One of the best features of the present movement in building up "Greater Port land" Is the marked Increase in the num ber of manufacturing plants. Since the first of the year the Union Meat Com pany and the Schwarischlld & Sulzber ger packing plants have figured in new enterprises, and the structures of the Carman Manufacturing Lompan,. Company. Parlln & Orendorff. Star Drill Machinery Company. Oliver Chilled Plow Company. Smith & Watson extension. W. G. MacPherson & Co., and several others of like importance, either in new buildings or enlargements of former quarters, show how manufacturing is In creasing in Portland and how concerns already established here find it necessary to add to their capacity by reason of heavier demands for their products. Workmen Home-Owners. Every additional skilled mechanic find ing employment In Portland means an additional dwelUng place, for the largo majority of this class of useful citizens are married men. This accretion to the population of the city partly accounts lor the remarkable number of new houses that are going up and which ara occupied as rapidly as finished. One of the recent visitors in Portland was an Eastern man who lived here sev eral years ago and who had not returned until last week. He said, after being shown over the city, that while he had kept in pretty close touch with affairs here since his departure, he was simply amazed at the character of new bulld i - in his absence. f.r.. ,rmiA here." he remarked, "do not seem to realize what a great city Is grow ing around you. But the thing that strikes me most forcibly is the attract iveness of the big buildings that have gone up since I waa last here. The Wells-Fargo. Corbett. Couch. Rotnchlld. r ..m.i -iuh. Medical. Masonic. Beck. Mason-Ehrman. Nortonia. Alex- m nthera I cannot now recall im pressed me as buildings that would do credit to any city in the country. I aa that the Board of Trade building is one of the handsomest busi ness blocks I ever saw and I was par i.i,, iT,.-..rd in examining it criti cally, for it Is the largest concrete build ing I have seen. The exterior is aooui as artistic, I believe, as a business struc ture can be made. I congraiuimo up land on these evidences of prosperity seen on every hand." One of tho signs of the times that Is attracting attention is the number of high-class residences going up along the foothills" and on up the Heights to the westward. Few residences of the first order are being started in the older parts of the city. Instead, all along the Heights are to be found dwellings In course of erection that will add much to the attractiveness of that favored dis trict of the city. Certain districts of the East Side also are being chosen by the rich for building sites. A recent pur chase, for instance, was made of the lots adjoining the residence of W. J. Clemens, on which the new owner. F. N. Gilbert, is to build a residence to cost between $10,000 and J15.000. The ground Is 100x150 and was bought from Mr. Clemens for about JT500. : 3 jtfr iWftV iM. -SiVW ' v gYP . . '""'!?!V.A-.TCL.i'l v '1?"Jl'Wi'4--i.i: anijaMaaaiC. . . . tlktM. ACGCST MAKES GOOU START Building Permits Issued to Date Amount to Over $150,000. August building permits promise to come pretty well up to the record made In July. Judging by the start made ln the first seven days of the month, me total at the close of business hours yes terday Included 100 items with i 51 385 in valuations. One permit was of .5.000. issued to the Carman Manufacturing Company. Plans aad specifications of 1A atnrtf the Meier-Frank company a ' building are In the hands of the Building Inspector, and permit win db bmu -few days for at least a portion of the new structure. Several other buildings to cost large amounts are to be started this month, which will sweu tne wuu ivi month to good-sized proportions. As an lndloatlon of tne cnaracior u. new buildings for which permits have been Issued this month up to date, the following show those of J1000 and over: August Rlckson. two-atory owemns. Repairs on McKay building. Third street ;,; V.'.' Mrs. Hansen, twotory dwelling, lit. Tabor Villa ' C M. Yeat. one and a half-story dwelling, Amherst street ........... B. T. All yn. one and a half -story dwelling. Sunnysids v;. John Danlelson. one-story dwelling. Portland boulevard z.7is J. U Carman, slx-atory warehouse. Upshur mreet V L"J.'-11- ' J. W. Applagate, one-story brick store. Sixth street W" 1,uw Amoe Berg, two-story dwelling, Colum- bla Helghta y.V.'l' Janet C. Boggs. one-atory dwelling, Maegly Highland 1;"; Bolllster, two-atory omuui -Addition . ViM'IT'tV- A. V. Combs, ooa-atory dwelling, Ina Park Herman Heltkemper. two-tory cweu- Ing. Corbett street ,,0o Herman Heltkemper, Ing. Corbett street T. T. Braden. one-etory Bratnard Addition Pai-lflo Paper Company, excavation. Fourth and Ankeny .- Adam Obermlller, two-erory Lincoln Park T" 1 J M Haller. two-story dwelling, J. w Irving Addition 8-0ro L. Schmidt, two-story dwelling. Halsey street -0o . i r ., n-njtnnr dwelling. Anderson Addition '90 W G. Neaie. two-story dwelling. Piedmont 8,00 V-. O. Mllligan. one-story dwelling. Rosemont Annex i" Methodist Churca. two-story Norwood ".,;" F. D. Lawrence, two-story dwelling. A-PGerM" twcst'irV'dWe'lling: "Colonial H.HHf F?ow'er." "twoetory dwelling, irv- Ada L. Simpson, two-story flats. Northrup street John Horn, two-story dwelling. Ton Aoniuon j. mcB. ' ...... w-i nr m nnrmnnrs. one ana a nail- itorr dwelling. Terminal Addition F. H. Kearney, two-story North Alblna J. R. McCiuire. one-story awemng, M. C. Mace, two-story dwelling. tes Irvlngton . . . . . "J ' " 'lilna. j. r. njuii. - - irs. South Portland Van Armatage. two-story nweiim.. Port Homea.and Vl'vViV" George A. Sullivan, one and a hair story dwelling. Hutchinson Addition J. Margulls. one-atory dwelling. Green a BIG SALE ON FIFTH Half of "Dexter" Site Brings $70,000. Across Ankeny street the Pacific Paper nnv htilldlncr is to occupy some- t thing over a quarter block, preparation ! for the foundations being under way now. END NOW LI VANCOUVER BANKER BUYS one-story dwell- dwelltng. Bon Sell wood a half-tddition.. dwelling. l.SOO 100 1.000 l.SOO 2,000 2.100 8.400 4.000 2,800 10,000 S.000 1.8U0 1.800 1,800 4.500 2,000 2.000 Presbyterian Church, Holladay Addition B. o. iase. iwoiorj ijoi., . . 2.000 1.30O 1.600 1,500 A. Schwelier. two-story dwelling, East Seventeenth street cc.-p Ana.RlnrV dwelllnK. Brush's Addition - 1.000 Falling estate, four-story. Third and Washington, repairs Aim C' C. Adams, one-story dwelling, 'jonesmore - - Z'000 tV'. H. Hosmer. two-story nweiiini, -borsifie . 3dr. E. L. Smith, one-story dwelling. p-'a.t Portland Hslahts ... .... 1,500 1.400 Bnelnesa Bnllding of Perhaps Si Stories to Be Erected at Once in District That Is Rap idly Filling Vp- One-hart of the practically hall jbtook rm A n Ken y siroci u""o t?Fi"Jk streets, was bought ye-terday n...fnrii nresldent of tne Vancouver National Bank. The nego tiations were conaucieo. " Mercantlle Investment compauy. former owner, ana Air. -'"""ivl" r'--S. Stock, representing Humason & Jetr- V. 1. nart of the site on which the Dexter stables stood prior to the fire that nesiroyea . - iY.t. . in .-fnlv. The piece se- 11 oilmen . j ----- - ,,. v. cured by Mr. Crawford fronts on Fifth Street and adjoins the building of the roT..hnii-TVlls Company. The consia- ia 97A .inn rr-u. i hrj. 70 feet on Fifth street and is 100 feet deep along the south v.., nn the Ankeny street line, as the quarter block is Irregularly shaped, being 125 feet on Fourth street. The east end of the piece was reported sold some days ago by W. B. Strecter at $65,000. which nets the Investment Company a profit of $10,000 for the few . u htLve held the property. Humason & Jeffery said yesterday that it is the intention of the new own er to begin the erection of a business structure on the sit at once, the con crete foundations to be heavy enough to carry a six-story building, though ni arrangements provide for a three-story building. This arrangement is subject to change in case a tenant appears that would want the higher It is seml-officlally announced that a good-sized building is to be erected on the Fourth street front in the near fu to h occunied by a Portland .i.niDaU house. .Tm hnlliiinara are going up around this district of the city at an amazing rate and by the end of the year no less than six new business buildings of from four to eight stories will have I been erected within a radius of two t.wir. of the location referred to. ARGUES FOR PRESENT 6ITE Thomas Hislop Would Have Bridge in Old location. Thomas Hislop. an East Side property . .. ...x u c-n faa thine: to owner, believes mm n do is to use the $450,000 bond issue for the rebuilding of Madison bridge, and not at present undertake to call for a larger bond issue, or cimiiB present location. - . . Several plans have been proposed. A . Van Hoomlssen would build a bridge sev ers" blocks south and on higher ground. Some favor changing to Hawthorne ave nue and Jefferson street- ans.2 also been prepared ior a at the present location, costing from $500,000 to $1,250,000. Mr. Hislop. who assisted as a member of the committee in getting the $4o0.000 bond issue submitted to a vote, sa"S; While the location ot we h r& son bridge ougni to to Hawthorne avenue e-nu Vit street, so the draw would be at right angles with the current of the river, yet it waa not done, and we now have the appropriation. When the act wa framed X tried to have it so framed that the new bridge might be built eitner " or Jefferson, but others on the comm t tee thought If that was done li would antagonize property-owners on the v est Side, and it was not so m.. it stands we must either build on the present location or get a new bond issue. With the 4ou,uuu we ".i the water line, and tne" can P50p! more money for an approach on thef East Side that will be above the tracks of the Southern Pacific and O. R. do not believe we ought to dui a uwy. with steep approaches on either side. Any one can see wnat. uavv- -- Trr. QMa onnrnach to the Burn- u k,i whnrn horses are strained "J , Je n nn the bridge with every nuui 6C""'o . j inn We went to avoid "And anyone can see that the erection v-i the location selected by Mr. Van Hoomlssen is out of the question v.,,oo r.r the are at cost of the i.cie th condemnation of prop UliUfiO i ..J ..... , - . . erty to get to the river, and third, the b.t fsinn landing is not on a general .i kf.A Hawthorne avenue is wide street. It reaches Into the interior and connects with all county roads. It is to be paved to the Green place. East Mill, where the new landing is placed, only runs to East Twelfth street. It would not be safe to ask the taxpayers for enough bonds to build a bridge as tt. TTnntnissen suggests. The saf- est thing would be to take the $450 000 bonds and build on the present location. t am enrnr iced at the action of the Brooklyn Improvement Club in indorsing a new location in face oi au uneaa ficultles." , SEVERAL TRANSFERS IX DEPOT DISTRICT. Investors Believe Streets Leading Uptown Are Soon to Bo Transformed. Since the fire that swept off the small buildings on the Kiernan block. Fifth and Hoyt, there has developed an active move ment in really in surrounding blocks, for the reason primarily that a good class of new buildings is expected to rise on mo district. This improvement. Investors believe, will cause a rapid rise in valuations in that part of the city, ana h.M u la flmired out that streets ex tending from the depot to the present busi ness district must come into more general use as retell streets which will cause a much better class of buildings to be erect ed than tho small frames mat now so much of that territory. The lot at the southwest corner of Sixth and Hoyt streets has been purchased by James F. Moore, or xn worm, for $30,000. The former owners were xi. m. li... ,4 r t. nii'pn The rjroD- Oillliai-I LMll B..1U v. .- - - - erty. Is diagonally opposite the burned district ana frame Duiiaings 0..... upon it Mr. Moore says he intends to erect a modern building when he returns. He has not yet decided upon the character of building, but says ne is bhi.ibi.icu m m the property remain as it Is for a short mb fr hrln era n 1TT1 n Iirr ukiil i 1.1 vc icot L.1 1 1 ITS QO 4. -Mwaae ------ m net at present. The GUlette-Riggs Lnd Company negotlatea tne saie. 11. vrnnu haa htvn 1n Portland about two weeks, and goes from here to Los a -1- trio fam v ftccomDanv mm. no said yesterday that he came West for a Kin.a trin tn ma the country. After stopping off at Denver and the Tellow- ... d.u hA TnnK snm tor AitKuwi reaching the Coast. He came to Portland s a .... 1 - vr urnji so favorably lm- lilMU ta.viu. - -" - pressed with Portland's prospects that he determined to man lovesimonui uom selected the property described as a start In that direction. . v, - ..I. win neerotlated bv Seng- stake & Lyman of . lot on Sixth street north of Irving, being described as lot 4. block Y, in Couch Addition. E. H. James was the former owner but for business reasons the purchaser does not desire that his name be announced for the pres ent The lot has some Indifferent im- ...i,ih will he renlaced with better class buildings to be rented for stores. The consideration Is $20,000. One of the most signincani ir""" a. ...t half hlnck on North was mat vi li.'j . .- ...... Seventh street between Glisan and Hojt formerly ownea Dy n. . . H R- Burke. The purchaser is a local capitalist who paid $65,000 for the prop erty His name is withheld, which would suggest that other deals may be pend ing by the agents in the same locality. Record of High School Lots. twh wb recorded last week for one portion of the block recently secured by the School Board for a site for a new High scnooi. mo lots 1. 4. B. S. heing the -Rt half of Just Whata Woman Wants Tint Your Rooms With Washable Kalsomine Costs less than the ordinary kalsomine, which 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. block 167, Couch Addition, snd Is from Henry E. Jones to School District No. 1, the consideration being $50.000. FLEE FROM CONSTANTINE Continued Earthquake Shocks Ter rorize People or Algerian City. CONSTANTINE, Algiers, Aug. 8. The people of Constantine are still in a state of terror from the earth quake shocks of a few days ago, fear ing a repetition, and there is in con sequence a steady exodus to the coun try. A new shock was felt last night and caused a renewal of the panic. Several buildings dammed by the pre vious shock were shaken down. The falling of a ceiling in the house of a European veBident Injured several chil dren. Two or three slight shocks were felt this mornlner. Builders' Information We have made a life-time study of the ' lisrhtingr and fixture business, so are bettor qualified to do this work for you than most firms. Wo find now a number of people very much disappointed on ac count of the lighting effect in their houses which was all caused by poor or little" knowledge of the bUWeeSflfe certain we can ho of assistance in solving the lighting question. Before placlns order see M. J. WALSH CO. Electric and Gas Work In All Its '"rc','"r0mpt" ly Attended to. Ring on Either Phone. 311 STARK. BET. FIFTH AND SIXTH. PACIFIC IRON WORKS O. E. Heintz, Kanager. 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. 1 7 X. 1 o East End Burnside-Street Bridge. 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 B2151, East 59L ."" H. T. DRENNEN