THE SUNDAY OREGOXIAX, PORTLAND, JUNE 20, 1909. I ... 7. . i - li , . . li . : . i - . i CITY IS II MAGNET Portland Investments Lure Big Eastern Capital. $450,000 DEAL IS MADE Equitable-, Lire Assurance Society Consummates Three Mortgages, Including One on Marquam Building: Dealers Busy. Replete with Important transactions last week in the Portland real estate Held was, to use tne term of a promi nent site seller, "momentous." Begun auspiciously by the consummation of three mortgages taken over by the Equitable Life Assurance Society of which ex-Secretary of the Navy Paul Morton is president, every day of the week recorded a transaction or im provement worth while the crowning realty deal of the week being the pur chase of the Poorfarm's 200 acres by W. A. Spanton and H. R. Reynolds. Illustrative, not only of the slow, but sure movement of captains of industry, but of the soundness of Portland for big investment, the records of last week how the result of the visit here last iu 1 Morton, ex-Secretary of Vy and Prealdent of the Equit able1 Life Assurance Society. At the time of his visit he announced he had come to look over Portland which had been heralded as a field offering Induce ments, many cities of the same size In the East could not parallel. As a result "o r days ot last week the Equit able Life Assurance Society consum mated a triple mortgage loan on down town Portland property. $450,000 pass ing hands through the transaction The buildings mortgaged and the sums are: Marquam building. $300, 000; Beck building. Seventh and Oak streets. $100,000. and the Archer & tMOQO hullAing- Flfth and alc streets. In taking over the Marquam build ing as security for $300,000. President Morton worked dual benefit for Port land. The property, in a measure held In trust to liquidate a debt to the de funct Title, Guarantee & Trust Com pany, will by the transaction, reduce llab,Ifty ot the receivership about 100,000, and necessarily dividend with semi-annual interest, will be distribut ed among the waiting creditors. Port land's second aid arising from th huge mortgage will be the eventual razing of the old Marquam frame struc ture at Seventh and Alder streets, which from the beginning of the city's astounding progress has been classed among Its eyesores. Thad F. Sweek represented the Equit able Life In the transaction, and Re ceiver R. S. Howard was the repre sentative of the Ladd Interests in the Oregon Company. It is understood an other $300,000 mortgage will be taken over by the Equitable Life on Portland property before the expiration of the next fortnight. That the Equitable Life is not the only Eastern concern with eyes trained on Portland, is evidenced by the mys terious movements hero of coast rep resentatives of Insurance companies that call the East their home. Secretive as to their designs, nothing more than a vague idea of the locations of the property they have in view can be ob tained. Realty dealers surmise that a quarter block on Morrison street near Seventh, two quarter blocks on Aider 8 rei.near Seve"th nd a quarter block on Fifth street, will soon be subjects of instruments to be filed in the Court house by the Insurance men who are going about seeking what they can devour in the way of Portland invest ment. By the end of the month the old-time structure known as the Little Paris House will have passed into history. John Del lar. owner of the ancient building, upon being refused permission to repair it after a recent fire decided to raze It and erect on the site a modern four-story brick building. Demolition of the old structure will be begun at once. The first floor of the new building will be occupied by of ficee and the upper portion will be fitted as a lodging-house. Vnslghtly for years. Market-street drive extending from Chapman to Ford street and affording an easy down-grade as an egress from Portland Heights, is on the eve of Improvement sought by interested residents for many years. Complete reno vation of the drive has been approved by the city and It Is believed that by the end of the month the vast improvement planned will be under way. Old side walks which have been an eyesore and a hindrance will be replaced by cement walks and the drive Itself will be placed in prime condition. Market-street drive skirts one of the best localities In the city for hillside residences and that it is to be not only Improved but beautified suffices for a safe prediction that sales E. J. Daly and Dan J. Malarkey are building flats on Graham avenue just east of Williams avenue. On the ad joining, lot on the southeast corner of Williams avenue and Graham avenue they will erect a modern brick business block in the near future. Vanduyn & Walton have sold two fruit tracts of 80 acres each, one to H. G. Huntington, of Minnesota, the other to Nellie M. Johnson, a local in vestor. It is the intention of the pur chasers to improve the property and put out at least 40 acres to a commer cial apple orchard in the Spring. Both tracts are located in the Dover coun try south of Firwood. which is regard ed by some as the equal of the Fir wood fruit belt. The soil Is shot loam with clay subsoil, no rock or gravel, and the elevation is 1200 feet. The State Agricultural College fac ulty states this locality will undergo marvelous development in the near future. Several good - sized orchards will be put out in the Spring also a nursery. A fruitgrowers' association will be organized, and other develop ments are contemplated. It is also re ported that work en the Mount Hood Electric Railroad will be resumed within the next 60 days and' rushed to completion. Fifty thousand dollars was paid last week by B. Hagedorn for a 12-year-lease of the five-story building at the southwest corner of Fifth and Oak streets, the purchaser already owning the site for the rental of which he re ceived $300 a month from A. McCal man. the lessee. The structure is three years old and was built by G. H. Dammeier and A. McCalman. The building Is bow occupied by the Archer & Schanz Company and the Wiley B. Allen Company, the rental schedule being $820 a month for two years, $910 for the following year and $960 for the remaining six years. Hagedorn, therefore, paid McCalman $50,000 for a lease which will bring in $625 a month for 12 years, repre senting the remainder of the life of the lease and on the expiration of the lease, the building would have revert ed to Hagedorn in any event. Mrs. Katherlne A. Daly has purchased three lots in Irvington on the southwest corner of Twenty-third and Stanton streets, for the purpose of erecting a residence. TRACT SHOWS GROWTH ADDITION OPENED TWO WEEKS DOTTED BY HOMES. Improvement Extends to City Limits. Grading of Windsor Heights Nearly Complete. Considerable growth is noted along Division and Clinton streets out to the city limits. Windsor Heights is a new addition on the Section road where the O. W. p. crosses. Several new homes have been started in this tract, although it has been on the market only a few weetts. , On Clinton street, which extends through the Waverly-Richmond tract, many new homes of the better class have been erected. All through this district new homes dot every street. An effort is being made to have the Hawthorne avenue carllne extended east about one mile and a quarter from its present end at the Section Line road. It is proposed to extend the line either along the Section road or through private property between the Section and Powell roads. The cost is estimated at between $15,000 and $16,000. There is an extensive settle ment at South Mount Tabor and to the eastward, which would be benefited by the extended line. CAR SHIFTS, KILLS MAN t , Second Train Victim Believed tc Have Been Murdered. BELLINGHAM. Wash.. June 19. Gus Fosberg. foreman of a railway con struction crew at Chuckanut. five miles south of this city, stepped behind a standing freight car to escape fly ing stones from a blast this morning. A switch engine struck the car at that instant. Fosberg was thrown across the rail and his head severed from his body. At midnight last night a telephone message was received at police head quarters saying the mangled remains of a man were strewn along the Great Northern Railway viaduct at the foot of Bay street. The unrecognizable fragments were gathered up by the police, and were identified as those of Victor Bergstrom, of Fargo, N. D., from a time-book found in a portion of a coat. Bergstrom T7as drinking heavily He had considerable money, how ever. H. Nelson, who was seen with the dead man late last night. Is under arrest. The police have failed to learn who sent the telephone message noti fying them of the man's death. BANKS NEED SPACE Three Concerns Appear on Im provement Records. U. S. NATIONAL ENLARGES It Will Remove Partition, and Occu py Two Adjacent Stores Mer- chants' Trust Goes to Sixth and Washington. Banks played an important part in the improvements of last week as shown by the permits granted to make alterations. The Lumbermans bank is installed in its new quarters at Fifth and Oak streets and the United States National Bank Is preparing to tear oown a partition and embody in its lobby the space on Third street formerly occupied by two cloth ing stores. This improvement, it is said, will give this concern a larger lobby space than that possessed by any other bank on the Coast- The change is being made under the supervision of Architect Lazarus and will be completed by No vember 1. When finished the improvement will devote the entire first floor of the Ains worth building to the use of the bank and the present scheme of pillars, win dows, gratings and floorings will be car ried out. The tiling now in use will be removed and entirely new Roman tiling installed as every bake of Roman tiling differs In shade and to obtain the tiny marble squares in a hue to match the present tiling has been declared by ex perts to be impossible. ' The corner and side entrance to the bank as used at present will be maintained, the only change on the exterior to be made being two large plate glass windows set equi distant and encased as are the other Third-street panes. The improvement will cost $10,000. By July 15 the Merchants Savings & Trust Company will be ready to occupy its new quarters at Sixth and Washing ton streets where a large force of work men is occupied in tearing down and rebuilding to make the corner suitable for the new tenant. The Merchants National Bank has not yet decided whether to quit the corner at Second and Washington street Or im prove its present quarters. Temporar ily it may occupy the additional space to be vacated by the Merchants Saving and Trust Company but as yet this has not been definitely decided. Another improvement which promises to encourage realty dealers and property owners before many weeks elapse is the paving of Thirteenth street from Wash ington street to the end of the carline on the thoroughfare and probably beyond that point. Delay of improvement of Thirteenth street is occasioned by the dubitable movements of the railway com pany which has not yet decided whether to install a loop to embody Thirteenth street or maintain the old service thereby necessitating the retention of the switches now used. It is believed a definite decis ion will be reached early in July. Also potent in hopeful development of the week is the proposed extension of Morrison street from the ' west line of Chapman street to the south line of Washington street. This Improvement forms one of the most vast undertakings of the street improvement schedule and will entail condemnation by the city of a portion of Multnomah field as well as five lots in Russell Addition. J. P. Men efee, W. F. White and H. J. Mcf-rison are investigating the plans as drawn by the City Engineer and by the first day of next month the results of their Inspec tion and interviews with property owners will be made known. Fourteenth street from Washington street to Montgomery street Is in the hands of contractors and before the end of June will loom as a bitullthic street. The improvement was begun several days ago and is progressing rapidly. Spirit, though it may be the proper word to express the activity and rush of realty dealers of points north, south, east and west of Portland, Is not typical of the energy of Portland site settlers. "Vim is more characteristic of their efforts to land purchasers. Exemplifying the stren uosity of local dealers James R. Patter son last Thursday arrived home from the East accompanied by 52 tourists whom he literally made captive In Salt Lake on their way to the A.-T.-P. at Seattle. They intended to visit Portland after viewing the exposition but Patterson wanted Portland to have first whack at their admiration and purses and per suaded them to go to the Sound City via Portland Heights. They did and Thurs day and Friday in a special car as the guests of Mr. Patterson they viewed the entire city passing an afternoon on the Heights. Ten of the excursion party left with the enthusiasm nf ninanctf-.rA chasers and all Intimated that they had maae up tneir minds to revisit Portland enroute to their Eastern homes. in nis aosence from Portland. Mr. Pat NEW STATE INSTITUTE FOB DEAF AND DUMB WILL BE BUSHED." " '- 9 1 : A OhEaoN State EasAi-vTK ScHooL. dzfl&S T W"Hyi.j,'l The Same Important Factors That Built Up South Omaha Fort Worth, St Joe, Kansas City and Chicago Willuild a Greater Portland on the Peninsula ia MEAT PACKING- is the leading industry of the country, and has built up bi , . cities more rapidly than any other factor. The huge packing plants made a Greater Chicago, a Greater Kansas City, created city of 60,000 in South 2?tSSi ? f l lmPtant cities of Fort Worth and St. Joe. The same indus- East St. Johns Is Soon to Be the Commercial and Industrial Center of the Peninsula fffZT' 0mJ ?0.00 ft nearer the Swift plant, Monarch Lumber Mill and other large industries than Swift's own townsite and is only two blocks from the North Bank depot, the only one on the Peninsula. An $18,000 school S TUn?rWEy -and, many factories stores and houses are being built. East tot. Johns future is already assured and values will advance rapidly. The time to Secure TvrrvrKTTtT io XTmi7 . . "fJ J-c Liiittj j. i-j o -li vuu wan, Lite ueiay will cost you dearly. r??JDOWN' 3 PER CENT MONTHLY i PERCENT DISCOUNT WHILE IMPROVEMENTS ARE COINC ON ALSO BUILDINC DISCOUNT Lot s$27S Up Beantiful Birdseye View of the City Will Be Ssnt to Any Ad dress On Reqnest jThe There is a demand for houses, and builders will find a ready sale or C fl ? J?-hn! afords S11'! opportunities for investment, and should be investigated without delay. Take St. Johns car at Sec ond and Washington, and get off at East St. Johns, where we have an oflice, or call at our city office and an agent will take you down. Good Salesmen Wanted Liberal commissions. Live prospects both in and oat of city Co 270 STARK STREET Leading Sub- division Agents PHONES A-M 2828 terson. accompanied by Martin Winch, covered New York and Boston thorough ly and devoted several days to investi gation of the opportunities offered by Pennsylvania cities. Both say Portland cannot be excelled either as a home or a business point and that money Is freer here by ten to one.' Ten cents in the East, they say, Is held with firmer clasp than a collar here. Purchase of the Poorfarm by W A Spanton and H. R. Reynolds will mean the setting out of Its 202 acres Into lots and the addition of a new district with a new name to Portland. This will spell a boom for Canyon road property, and al ready lots which were booked for sale have been withdrawn from the lists of agents, the owners anticipating the re ceipt of higher prices when the Poorfarm is platted and on the market. It is the Intention of the two purchasers to make the Poorfarm property a high - grade addition to the city and Mr. Olmsted, the local engineer and landscape artist who was employed by the city to plan its park scheme, has been engaged to plat the acreage. While nothing absolutely definite has as yet been determined as to the future of the Poorfarm acreage, that it is to be a high-class addition with accompanying re strictions is certain. The price restric tions will range from $3000 to $4000 and it has already been hinted that, no lot will be sold for less than $1,000. Beyond these predictions, H. R. Reynolds deferred all other information until a later date. The new addition will contain about 1200 lots. FATE NOTICES BRYAN DEED Rewards Him With 22-Pound Pike for Saving Guide's Life. MUSKEGON, Mich., June 19. While angling for bass from- a rowboat on Mus kegon Lake, "William J. Bryan saved his guide, John Connors, of this city, from drowning. Mr. Bryan was in the city to deliver a. lecture and was the guest of a party of leading business men on a fish ing trip. Connors lost his balance and was half overboard, when Mr. Bryan seized him around the waist and pulled him back into the boat. A 22-pound pike, the second largest caught this season, re warded Bryan's efforts. Roasted Umpire; Suspended. NEW YORK, June 19. Norman Elber field. third baseman of the New York American League team, was suspended today for three days for disputing Um pire O'Loughlin's decision in a play yes terday. . ROAD PROGRESSES FAST S. P. TRAIXS TO CROSS OSWEGO BRIDGE WITHIN YEAR. Tomorrow (Monaay) is positively the last day for discount on East Side Gas Bills. Read Gas Tips. West Side Grading Completed Kellogg Lake Trestle Is Under Way. Indications are -that Southern Pacific trains on the West Side will cross the bridge at Oswego and through Mil waukie over the new branch within a year. Grading on the West Side has been completed and the crew has changed its camp to the East Side near the south end of Milwaukie. Grading of the roadbed between the bridge ap proach and Kellogg Lake was begun j,.n.Ce"x.-T,ho track w111 first laid across Kellogg Lake on a trestle which later will be filled up to grade. Most of the land needed for the right of way has been secured and negotia tions are in progress to obtain more land required. The company has been paying from $2000 to $3000 an acre and has allowed the owners to take away their" houses when desired. ,, The plans for the new depot to be built In. Milwaukie show a handsome structure. Its location has not yet been decided on, and a two-story struc ture may be built that the agent may occupy the upper story. The branch to connect with the bridge across the Wil lamette River will connect with the main line at Wlllsburg. just south of the O. W. p. line. This branch will be built at once that iron for the new bridge can be sent over the track di rect from . the Southern Pacific car shops on the East Side, where it is now stored. Work on the piers for the new bridge is going forward rapidly. The bridge will be 90 feet a'bove low water mark. Work on the new water plant for J. L. Johnson & Co. Is under way east of the Southern Pacific track, and pipe is being laid. The reservoir has been erected on the high ground on Min thorn Springs Addition. Water will be taken from a well near Minthorn Springs. An agreement has been reached between the Council and Mr. Johnson so that a franchise will be granted at a special meeting to be held Tuesday, June 29. The present pros pects are that the capacity of both water plants in Milwaukie will be taxed to furnish water, owing to the rapid growth of the town. Stump Lands Reclaimed. ASTORIA. Or., June 19. (Special.) T .;, w run IMPO SIXO STRUCTURE TO BE ERECTED 2VEAR SUE netVte ToVl.Tc of'ltsaf S ASS S Portland architect. F. A. Legg. ha. completeu the plas of the bulling "outhbeck ' & Headrlok A tractors at Salem, announce that the structure will be ready for occupanbv bJ & Hfadrt;lt. con- The new state institution will be erected on the site long occupied ov a pofvtechio . aykf "ext March a half north of the State Capitol. Ground has already been , broken for th. .t SChi?' about a mlle and Mute School will revert to the State Tuberculosis AsLiaUon .nd h! structure. The old State Deaf supervision of a committee of four appointed by the las Legislature Th" aS,a sanitarium unde- the erected for $57,000. or $18,000 less than the sum .nnr-iiffn Ji, he new ,nstutlon. which will be and of ample size to accommodate the E state's 4f M?lL f, PUrpM' wU1 be an imposing structure long and 65 feet wide, with a rear wine 50 tilt L. toTtm?y V to come. It will be 173 feet thstructure will be commenw hen" eclvanis pXS,.." D TheNi D M. - ewToWn-- Valier, Montana I Surrounded by 200,000 Ami of Irrigated Fanni Now Betas Settled MBi 1EKM1JAL OF RAILROAD. u VIwh!allf5wt?w.n.sit,e,s for speculation, business or residence in a healthful, delightful climate, on beautiful Lake Frances, in Valier. Montana, (about 9 miles north of Great Falls), a town that is being backed by one of tlie most successful corporations in this part of the country. Over 200.000 acres of irrigated lands, now thrown open to the pub lic (both Government and private projects), surround thia cHy which is situated on the main irrigation reservoir of this section. The Logrlcal Buxlnesa Center of tbe Xortbweat'a Greatet Irrigated District. The location, the backing and the immense number of farms be ing started m this section demand a shipping and buying center and alier was chosen after careful investigation ty most competent Judges (men who own and control over S00 big elevators), as the best available site. $40,000 hotel, cement sidewalks, water system, big grain elevator, lumber yards and office buildings under wav Write for full particulars and prices of lots today before the choice locations are snapped up. IRRIGATED FARMS. CS.OO per acre down, balance In 15 yeara buys the best irrigated grassv farm all readv for th ninm i. .::; r r Conrad Montana Land Co 205 Main St, Conrad, Mont7 Kelly. the Clifton logger, has re cently ; demonstrated the feasibility of clearing the logged-oft lands. By the use of a big logging engine, he has cleared a large tract near Clifton of stumps and underbrush and the ground is being leveled with a large harrow. which is also operated by the logging engine. The land thus cleared is very rich and will be a fertile farming tract. The Pennsylvania. Legislature hat in creased the salaries ot common pleas Judges from sssoo to $11,000 a year Home-Building in Rose City Park .While the 500,000 mark in Portland is being rapidly ap proached and the business center is" becoming more and more extended, be foresighted locate your permanent home where health and happiness will attend prosperity. Rose City Park possesses every natural advantage of an ideal home community and at tending this is the splendid profit accruing in an estab lished restricted Residence dis trict of Greater Portland. Lots (50x100), $50O up, in cluding improvements. Easy terms. HARTMAN & THOMPSON Chamber of Commerce J