The Sunday Oregonian., November 08, 1908, SECTION THREE, Page 8, Image 32

THE SUNDAY OREGOXIAX. PORTLAXD. yOTE3IBER 8t i03.
HEALTHY TONE IN"
REALTY MARKET
ME
imm age
Dealers Well Satisfied With
Existing Conditions and
Future Prospects.
FINE RECORD IN PERMITS
Xorthwett Wholesale District la
Rapidly Filling Up With Ware
houses or Highest Type and
Section Is Widely Extending.
BY JOHN J. HARRISON.
As was believed by realty men al
most to a man. now that the. election
Is over, there is a distinctly better tone
In the local market. Not a slng-le firm
In the business failed to say that for
some months to come a brisk movement
is to be expected.
With that, no Immediate "spurt" Is
looked for, but in the number of In
stance where deposits are up on con
ditional options, dralers count confi
dently on having- most If not all such
deals closed In the next few weeks.
There would seem to have been an Idea
here and there that following the elec
tion of Taft there at once would be a
Jump in the rialty market of a spec
tacular nature: nothinjr could be far
ther from the fact. Real estate trans
actions are not. under normal condi
tions, of that nature. Dealers say the
verv best thin that can happen to
the market, now that the uncertainty
has passed. Is steadiness. They point
out that "booms" are most liable to
prove punctured balloons, and cite In
numerable instances where Inflated
values have proved the undoing of
communities.
Satisfied With Outlook.
The best-Informed dealers are con
tent to know that a period of uneasi
ness for the cominn six months or year
Is not confronting them, and that they
may gn rlnht along In the even tenor
of their way under the same business
conditions tnat have obtained for sev
eral years.
- One of the leading realty men In
Portland said yesterday that he could
not understand why a real estate boom
had not overtaken Portland before now,
in view of the fact that values had
remained so far below those In cities
of the same Importance in other sec
tions of the country, and upon being
asked how he accounted for It. replied
that It was because Portland capital
ists seemed unable to realize what an
opportunity was presented them under
their very noses. He added that out
side men of means were Investing af
ter examination of the conditions here
and that when too late Portland capi
talists would discover they had allowed
chances to sro by. Just as they had in
the past. He cited numbers of In
stances where what now are among
the choicest parcels of ground could
have been picked up at nominal prices,
but residents of Portland appeared to
have no confidence In Portland's future.
"Its the same old story." said he:
"every day we meet people who wag
their heads with an air of superior
wisdom, with an announcement that
so-and-so many years ago a certain
corner might have been bought for a
few hundred dollars, whereas now
It commands thousands. For the life of
me I cannot see why what has already
happened Is not to happen again: it's
only a matter of adding a cipher or
two."
Portland Moves Forward.
Coming down to statistics, the last
week furnishes plenty of evidences to
prove that Portland Is not moving
backward. The close of the previous
month brought a statement of building
operations so far ahead of the corre
sponding month in 19D7 as to show that
even taking Into consideration the de
pression of that year, the record shows
a distinct advance. With over 00.000
represented in estimated valuations of
new buildings, in a month that ordina
rily is figured as a slow month, means
but one thing Portland Is growing at
a rate that nothing short of a calam
ity can stop.
Fine weather Tor the last few days
has allowed marked progress to be
made with structures under way. In
the district becoming known as the
termlnsl warmouse district about a
dozen buildings are under course of
erection, most of which are of quarter
and half-block dimensions. The district
bounded by Thirteenth, Seventeenth.
Pavia and on to and past railroad lines
to the north, with some Infringement
on the residence section south also
up to Bumslde street, there Is build
ing up whst In a few months will cre
ate an entire change in the former,
character of a large district of the
city. This extension of business la
observable also on around the con
tour of the city along the water line
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PFRSPEtTIVE OF NEW ROSEXBI.ATT HOTEL AT TENTH AND At-DER.
Gus Rosenblatt's new hotel building at Tenth and Alder streets, now under course of erection. Is being
built from plans made, at the office of W. C. Knighton, the architect. A full description of the building ap
peared In The Oregonlan of Monday, November . The walls are of buff brick with white glazed terra cotta
trimmings Work on the building Is progressing satisfactorily, bricklayers now having reached the third story.
The estimated cost of the building is placed at lllO.OuO, though this figure may be exceeded before the struc
ture Is completed.
of the West Side into what a few years
ago was known as the "North End."
In rather disparaging significance.
Business Districts Widen.
In the issue of The Sunday Oregonian
a week ago there was printed a list of
new business buildings under wsy and
projected Involving large expenditures.
Most of these on the West Side are
located in the district referred to. but
that list Is far from complete when
the entire city Is taken into calcula
tion. New enterprises are coming into
notice lu almost every flection of the
city.
In the week Just ended the most
noticeable realty sales were made on
Portland Heights. A half dozen sales
were reported of sites for residences.
Involving from $350" to J.".000 each.
These were made through various
agencies, but the distinguishing fea
ture of them all is that Investors evi
dently believe that sites In that sec
ton of the city cannot long remain ob
tainable at prices now quoted, and are
taking them up as promising good ad
vances. Realty Transfers Normal.
Transfer records did not Indicate any
great increase for the week, but that
was not to be expected. As a rule,
tranaters are not recorded for weeks
after deals are consummated, and fre
quently, as has been referred to in
this department, the record gives no
Indication of values Involved, for the
reason that many records carry nomi
nal figures.
Several large buildings will probably
figure in tlie records for the month,
notably the building at the corner of
Stark and Seventh streets, under way
for Theodore B. Wilcox. Comparison
with November of last year will hard
ly be fair, as that month brought al
most a stoppage in building operations
on account of the money depression at
that time. Everything points to a con
tinuation of operations already pro
jected and new enterprises that were
delayed until after election.
USE HOTEL FOR CITY HALL
Proposal Made for Bay City to Pur
chase Fairmount.
SAN FRANCISCO, Nov. 7. San
Francisco's need of a city hall to re
place the structure ruined by the
earthquake of 1906 has led to a unique
proposal by Willis Polk, a local archi
tect, who is acting in an advisory ca
pacity to the city authorities. Mr.
Polk believes that the city should pur
chase the Fairmount Hotel, said to be
the finest structure on the Coast, and
convert It Into a meeting place for
Supervisors. Police Judges and other
officials. The property, he says, is
worth J2.600.000. and the estimated cost
of a new city hall, together with the
rent payable while It Is In progress of
construction, would be 15.000.000.
CLOSE MANY DEALS
One Realty Firm Reports Sev
eral Sales. '
DEPENDED ON ELECTION
Inside Quarter-Blocks and Acreage
Acquired by Investors Who Held
on Vntfl Choice of Taft
Was Definitely Assured.
In proof of the assertion that many
realty sales were effected subject to
the election of William H. Taft to the
Presidency, one real estate concern
furnishes evidence of the most con
vincing character.
The Dean Ijtnd & Improvement Com
pany closed deals within the past two
days which had been made some weeks
ago. but which were held up until the
result of the election was definitely
established. These deals are reported
hv the enmnnnv as a mere fraction of
those handled, some of the parties to
other deals not desiring, publicity of
them at present.
The sales reported are as follows:
A. C. Ruby purchased the quarter
block at Tenth and Harrison streets
from G. A. Vehr for $40.00. This prop-
ertv Is known as Cincinnati Court.
Ralph B. Lloyd. of San Francisco,
honirht ft ouarter block at the Inter
section of Multnomah street and Union
avenue, for 112.000.
A c. Ruhv bought a 140-acre tract
on the Base Line road for J30.000.
This Is reported to be one of the best
Improved ranches in the vicinity of
Portland.
G. A. Vehr bought S59 acres in Polk
r,inl from A. C. Rubv for $15,000.
Fred T. Lisco bought lots 1. 2. 3 and
4 of block 3, Park Addition to Aioma,
fn. t -a . n n
A. C. Ruby bought the quarter block
on the corner of Multnomah and East
Nineteenth street, on which he is now
having erected a modern aweinng.
valuation being placed at $18,000.
P. Carstens bought a modern- dwell
ing and ground on the southeast corner
of East Twenty-second and Broadway,
Holladay's Addition, for $7000.
ed work on the dock for St. John at
the foot of Philadelphia street. It is
said to be the most Important public
improvement undertaken by the city,
and much Is expected from it.
Work Starts on St. John Dock.
Joseph Paauet. contractor, has start-
COTTtCE OF A. V. BEEM.EY IN MENEFEE ADUITIO.N. SANDY BOULEVARD.
:
THREE SEW HOUSES PLAXXED
C. C. Bobbins Designs for Dwellings
and Apartments.
Plans are being prepared for a three
storv apartment-house to be erceted
on Marshall street, between Nine
teenth and Twentieth streets, for T. O.
Sand. It will have full basement
and 12 three-room apartments, with
electric elevator service, hot-water
heat, dumb-waiter service, and fin
ished throughout In quarter-sawed
Eastern white oak. and will cost ap
proximately $25,000.
The Wells-Mead residence, at the
comer of East Twenty-first and Til
lamook, will be ready for occupancy
December I. This modern residence
comprises 10 rooms, aside from recep
tion, finished attic, child's room and
dressing-rooms. It is heated with hot
water, with the living-room and dining-room
finshed In white quarter
sawed Eastern oak. and the parlor,
reception-room, stairs and upper hall
in mahogany. The entrance, toilets
and bathrooms are In tile with high
grade white enamel plumbing through
out. The basement is supplied with a
complete laundry, fruit and vegetable
room. The foundation work is in
blue-gray stone, the first story treated
with colonial lap siding and the sec
ond story and gables in splash-coat
exterior plaster treatment. The en
tire building is glazed with plate
glass with the entrance and cozy win
dows executed In beautiful beveled
plate art designs. The cost of the
home will approximate $20,000.
Plans are being prepared for a fine
home for H. McCornick to be erected
on East Salmon street between East
27th and East 28th streets. This home
will occupy a fraction over one-half
block and will Include a twelve-room
residence, a private garage and lawn
tennis court. The residence and gar
age will be constructed of pressed
brick with sandstone relief, and the en
tire east, west and north sides of the
residence will be provided with roomy
verandas connected with open veran
das. There will also be a sleeping
balcony, clothes-airing balcony, trunk
elevator from basement to all floors
above, and the main living room will
be 22x40 feet, and the dining-room 18x
22 feet. There will be three fire
places, with the ceilings of living
room, reception, library and dining
room beamed. This home will cost
approximately $25,000.
31IIiWAUKIE IS QUITE ALIVE
Dealers Say Bealty Is Moving In
That Town.
'There is property for sale in Mil
waukle,' declared Mrs. Maggie John
son, who handles real estate in the old
town. "The report that property-holders
here in Mllwaukle will not sell their
property Is not correct. We are going
ahead finely here, and will go faster,
now that Taft Is elected."
Mrs. Johnson says there have been
many people looking for small tracts.
But property cannot be said to be cheap
at Milwaukie, but it is cheap when
compared with prices in other locali
ties. Acreage property near the South
ern Pacific Railroad and In the Mln
thorn district is held at $700 and $S00
per acre, and unimproved land south
near the Oregon City Railroad is quot
ed at $300 and upward.
Councilman Strelb says that over 40
houses, costing up to $200), have been
erected during the past year, making
a clear gain in residences of $50,000.
The building for the new sawmill
On the Salem Electric Line, Only.30 Minutes' Ride From the Heart of Portland.
The most beautiful city in the world. Affords the best possible investment within
the reach of people of all classes. They will provide delightful home sites for the
man of means or revenue-producing ground for the man of energy, as the ground
is unexcelled for raising vegetables, fruit, berries or walnuts. Metzger Acre
Tracts are selling verv rapidly, for JUST ONE
HALF THEIR ACTUAL VALUE
As you will agree with us after examination. Prices will advance 23 per cent
soon, therefore those desiring one or more of these acres will have to act quickly.
Beautiful scenery, shady nooks, magnificent timber, bubbling springs, sparkling
brooks are only a few of the many attrac tions offered in this Eden of the Willam
ette Vallev. Take the cars at Front and Jefferson streets, get off at Metzger;
Station and enjoy a few hours amidst delightful surroundings.
PRICE $200 and UPWARD
ACCORDING TO LOCATION
TEEMS 10 per cent cash and 3 per cent of the pur
chase price per month.
INTEREST 6 per cent per annum on deferred pay
ments. ON CASH PAYMENTS a- discount will be allowed.
Figure it out it only takes a saving of 20c per day and up to p u r c h a s e one of
these acres.
For particulars and beautiful descriptive plat call at our Portland office, 226-228
Front street, or at Metzger Station. All cars stop at Metzger 's.
HERMAN METZGER, OWNER
Office Phones Main 474, A 1374. Agents and Phones at Station Main 6409.
II
THIRD PLATTING
OF 150 ACRE
Inside Lots Close to Car Line $500, Corners $700
For these Prices you get High-Class Residence Property, Building
Restrictions, Cement Sidewalks, Graded Streets
Electric Lights, Telephones, City Water
HART
M
AN & THOMPSON
CHAMBER OF COMMERCE
for the Oregon City Pulp Company is
nearly ready for the machinery. The
shingle mill company Has erected
another building for handling Its out
put. A ouildlng -which will be used as
an overall factory is being erected on
Milwaukie road. Milwaukie also has a
new newspaper, published by Captain
J. P. Shaw.
Altogether, Milwaukie has a grood
outlook. Prospects for a decision in
the Supreme Court on the five-cent-fare
case In December are considered
excellent. All papers and evidence in
the case will be submitted November
13, and a decision is expected - soon
thereafter. Residents are hopeful that
they will get the five-cent fare asked
for, which will put Milwaukie on an
equality with other Portland suburbs.
MORE PAYF0R MARINES
General Elliott Asks Better Renin-
neration for Legation Guard.
WASHINGTON, Nov. 7. Recommenda-ti-
that the United States Marines
1
satlon Guard at Pe-
u- credited with double time
lui aum service, as is the case with those
serving in the Philippines; that legisla
tion be secured to establish a school of
instruction for cooks and that assistant
adjutants and inspectors vt the corps be
authorized to administer oaths, are made
by General G. F. Elliott, commandant of
the United States Marine Corps. Gen
eral 1311011 in his annual report submits
estimates for Improvements, as follows:
Bremerton Navy-Yard. Washington Bar
racks. J150.O0O; officers' quarters, J60.000;
Philippine Islands, barracks at Canacao,
$75,000; officers' quarters, 160,000.
The sum of t236.500 to purchase 10.000
IT IS OF THE HOME WE SPEAK
It should be well lighted and
heated. We have the latest
improved designs, in lighting
fixtures, mantles and andirons.
You should investigate our
line and prices before buying.
M. J. WALSH CO.
Electric and Gas Work in AH its Branches
Promptly Attended to. Ring Either Phone
311 Stark, Bet Fifth and Sixth. Open Saturday Evenings
rifles and 1,000.000 rounds of ammunition,
is estimated.
General Elliott also asks an additional
increase in the personnel of the Marine
Corps, consisting of 618 marines and a
number of commissioned and non-com
missioned officers. He recommends that
a ship of the Dixie or Panther type be
converted Into a transport ship for exclu
sive use of the Marine Corps. He says
that the work of enlisting men for the
service has been very successful during
the past Summer.
Intensive
arming'
Methods
Are no longer a theory in the Willamette Valley, one
of the richest garden spots in the world, and on the
Beaverton-Reedville Acreage, 10 miles west of Port
land, known as "The Pasadena of Oregon," the most
select body of land in the Valley. See it for yourself,
talk with people who live there, some of them former
residents of the famed Hood River district. Ask us
for a free ticket any day fo the tract. We won't
waste space telling you what a nice little income you
can make from fruits and vegetables on one of these
five or ten-acre tracts you know. But do you know
at what a very small cost you can plant a tract of
land to English Walnuts, the latest and most profit
able farm product in this vicinity, and that while
waiting for the trees to develop you can still produce
the small stuff; that in less than 10 years' time you
can have a-.yearly income of $500 per acre from the
Walnuts alone ? You can get the land now at from
$75 to $250 per acre, and on easy terms, if you wish.
What would you take for it now, covered with 10-vear-old
English Walnut trees? What would you
take for it 10 years from now? Think about it be-'
fore passing it by.
THE SHAW -FEAR CO.
245 STARK ST.
Sixteen Years in Business in the Willamette Valley. :