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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Nov. 7, 1909)
, ' ' ' 8 . XHE SrTN'DAr OREGOXIAX, PORTLAND, XOTE3IBER 7, 1909. " 1 ' i ' , " ' : 111 TO IKE APARTMENTS JUST COMPLETED ARE LEASED FOR FIVE YEARS SI 10.000 PROFIT Negotiations Are About Closed for Sale at Seventh and Oak Streets. MAY. BE THEATER SITE i ' 11 . I I'roperty Bought in 1900 for f 17,- OOO Is Being Traded at $175,' OOO Some Improvements Are Made, but Increase Is Large. A al for the sale of a quarter block at the southeast comer of Seventh and Oak streets is now und way and has reached a . point near consummation, whereby Henry Wemme. present owner ,of the lot. will make a net profit of fUO.OOO on an original Investment or 3.wu. im property In question, Mr. Wemme an nounces. Is being negotiated for at $175,000. The purchasers are keeping In the back around, but It is believed they represent a syndicate composed for the purpose ojr- erecting a big down-town theater. "The sale Is well under way," said Mr. Wemme. "I am not sure whether li will go through or not, but it now appears practically certain that It will do so. If It does I will make a clear profit of $110. XX In nine years from an investment of $23,009 and I will feel so good that I will stop securing subscriptions for the new Mount Hood Road, for which I am rais ing $5000 and will subscribe the balance myself, I have already secured $1500. P.ut I will then be well able to do that much for Oregon. "I understand that the people who are negotiating for the purchase of this prop erty at Seventh and Oak represent a big theatrical syndicate, but I do not know whether this is so or not. The deal is being made through the real estate agents. Keasey. Humason 4 Jeffery, and they are not Inclined to tell me about the purchase, but' it will make no dif ference to me to whom I am to sell." Should this deal be finally consummated It will represent an Increase In price which is but little short of fabulous. Nine years ago Mr. Wemme paid $17,009 for this property. At that time he was told that he had made & poor purchase, as It could have been bought a year before for $12,000. He then leased the property for ten years to Fred T. Merrill and the latter erected a three-story brick build ing on the property. Mr. Wemme him self paid $W0O toward these improve ments, taking care of the excavations, etc. This $23,000 ir luded In the purchase price, and the excavation, does not, however. Include all the money paid out on the property. Mr. Wemme paid out later $2300 for street Improvements on the property, which would make the total Investment $25,100. Mr. Wemme has had practically no Income from the property, and. figuring his money worth S per cent, he estimates the to tal cost of the lot at $40,000. In selling, while the price Is to be $175,000, Mr. Wemme wll receive but $150,000 oi this amount. He still owes . on the lot $6500. assessed for cutting through Oak street, and $10,000 will go to Fred T. Merrill for his interest in the building on the property. Com missions, etc.. will account for the re mainder of the $25,000. and will give Mr. Wemme a clear $110,000 over the entire $40,000 which he figures It cost him. taking into account the Interest on the money. The property has brought In prac tically no rental. It was leased in 1900 to Mr. Merrill for ten years at $2400 a year, and the taxes have amounted to $2000 a year. This lease still has ten months to run. when the property will become available as a Dulldlng site. "When I gave that lease." said Mr. Wemme, "my lawyer told me It was the worst lease in the city. He told me the price was not enough, and that it ran too long. That was Just why I did it. 1 have a habit of selling everything I own. and 1 Just thought when 1 bought this I would put It under such a poor lease that nobody ever would buy It until the lease expired. That was ten years age. and I thought then that Portland would be a great city in time, and that I would be rich if a only held on to that property for ten years. Well, events have Justified my predic tions. , "I think the property is .even cheap as $175,000. as it can be made to pay $1500 net a month, even with the build ing now on the property, and that is $1,000 a year, or over 10 per cent a year. Still. I -io not want to make all the money there is off that lot, and I'd like to go ahead and build good roads over t.regon." The building Is a three-story brick structure, which Is heavily trussed at the roof, so that the entire Interior can easily be removed and the building converted, with but minor cnanges, into a theater building as it now is. It covers the entire lot. 100x100 feet in size, and is a substantial structure at present. STREET SOOX TO BE OPENED Killingsworth Avenue Push Club Hears Favorable Report. The Klllingsworth Avenue Improve ment Association held ,a meeting last Tuesday at Carroll's store. Council man Ellis, of the Tenth Ward, assured the members that the street would be opened immediately. The second re port of viewers will be accepted. The : next meeting will be held next Tues day evening. Petitions will be signed-for the grad ,lng and hard surfacing of Killlngs worth avenue, so that the extension of . the "U" carllne may be a reality by next Summer. A committee wilt also ; be appointed to confer with the School j Board for a proper location for a ! schoolhouse on or near Klllingsworth I avenue. The street will also be ex pended from "the second county road to the Slough road or Troutdale ave Ijiue, as It is known from there. It I joins also the Sandy road at the same. place. The holders of tracts, all ei icept one. have donated 60 feet for this purpose. BCTS SITE FOR STEEL BLOCK Iteed Property at Burnslde and Eleventh Brings $37,500. The property at the southeast cor ner of Eleventh and Burnslde streets, owned by Henry S. Reed, has been sold to a local capitalist for $37,500. The lot is Improved with three frame build ings renting for a fair Income. It Is 50x90 feet In size. The negotiations were conducted through the agency of F. O. Northrup and I. Q. Davidson, the two firms working Jointly in the deal. It is said that the buyer will next year improve the property with a handsome fireproof building, about five stories high and of steel and concrete construction. He Intends to retain the property as a permanent investment. r$5f&-& I SB?!!-! l- Htm 4 w fr 1 w I Lai : m it 4 X S. PITTLEKMJ Bl'ILDING AT PARK AKU TAYLOR TO BE KNOWN AS THE WHEALDON. PIPE-LINE PLANNED Water System on East Side May Be Extensive. BIG EXPENSE IS INVOLVED Project to Supply Entire District South of Division Street Is Launched Resolutions to the ' City Outline Complete Plan. The most Important improvement pro jected, on the East Side during the past week is a great pipe line system to pro vide a water supply for the entire district south of Division street. In the Seventh ward. Involving a probable expenditure of more than $250,000. This district com prises 16 square miles of territory, and has a population estimated between 50.000 and 70.0110 people. At -the meeting of the Seventh Ward Improvement League, comDosed of - delegates from nine push clubs, on Friday night, the general com- ittee on water supply suDmitiea me report of a plan to lay reinforcing mains ,,,nniv tht, hie Hintrict for the next " "HK'J ' - . 20 years. Two systems were recommeiM ed, one from the lower reserveir and one from the higher reservoir.. The follow ing Is the recommendation of the committee: To the MasTir. and the Honorable water Board of the City of Portland. Or.: Gentle men We. the committee appointed by the Seventh Ward Leanue. for the purpose ot pre paring a comprehensive plan covering- the water needs of the Seventh Ward and y adja cent territory, after due deliberation and care fully weighing the present and future neeos of our dtiwrlcte. beg leave to present to you this report. We desire urgently to have you recommend .our scheme to the City Council. We. as residents and property-owners In the various sections of this dietrict, feel that the plan hereinafter set out will provide our ter ritory 'ith sufficient water for all times, and we desire to have an Improvement that will last, and consequently recommend the laying of the following mains, towit: Plan to supply Sellwoodi and other districts of a low level Beginning at the lower Mount Tabor Reservoir. No. 2. with a 2B-lnch main, and 'following Division street to Twenty-sixth street, reducing to a 16-Inch main, and with the same following Twenty-sixth street to Ilolrate street: then following Holgste street east to Twenty-eighth street; thence south on Twenty-eighth street to Kelly avenue; then west on Kelly avenue to either Twenty-third or Twenty-first street; then south with a 12 Inch main to Douglas street, sometimes called Harney avenue; then -west along said street to Grand avenue, with a connection at Fif teenth street to unite the new pipe line with the present 10-inch main on Umatilla avenue. Plan for supplying- the high districts from the Upper Reservoir Beginning at the Upper Mount Tabor Reservoir, No. 1, with a 20-Inch main, and running south along the property owned by the city to the Section Line Road, also called Division street; running thence with a 10-Inch lateral east on the Section Line Road to the city limits, with the main pipe line of 20 inches, following Division street west to Fifty-second street, commonly called Milwaukee avenue; then with a 16-inch main following south along said Fifty-second street to the city limits; with a 12-inch main follow Division street from Fifty-second street- west to Thirty-ninth street, then with a 10-lnch main down Thirty-ninth street south to Holgate street: also run a 10-lnch main east from Flf-tv-second street on Woodstock avenue to the jlty' limits; also a 10-lnch main west oa Wood stock avenue to Thirty-ninth street. This report was . signed by the follow ing: G. A. Johnson, W'oodstock Push Club; Walter Adams, Sellwood Board of Trade; 1 W. Darling, Midway Improve ment Club: Rev. Father Gregory, Brook lyn Improvement Club; W. S. Chapman, Alta Vista Improvement Club: E. F. Moldendauer, Kenllworth Improvement Club; L. E. Rice, Waverly-Richmond Im provement Club; Dr. Hamilton Meade, South Mount Tabor Push Club; H. Crofts, Seventh Ward Auxiliary; Ben Riesland, ex-offlcio chairman. This committee will present the report to the Mayor and Executive Board and urge that the plans suggested be adopted. It may be that they will be modified somewhat, and the pipe lines be connect ed with the Intermediate reservoir No. 6. now being built at Mount Tabor, and the two mains be merged into one pipe. In support of the report of the commit tee L. W. Darling satd: "The pipe lines provided" in the report of the committee are no more than will be required. There has been too much patchwork done by the city government, and we must pre pare for the future. In this district we have Mount Scott. Woodstock and Sell wood, which are rapidly growing. West moreland, wifcii 750 lots, has nearly nil been sold out. Eastmoreland, with 1000 lots more, is now being platted and will soon be on the market. The William Frazier tract of 35 acres and the O. R. & N. tract of 190 lots on Milwaukle street, and some other vacant tracts to the southeast are soon to be on the market. Even If this plan be adopted and work started at once to lay the pipes there will be water shortage before the work can be flntBhed and water turned on. It be hooves every citizen to urge that this system, or some other, one equally as comprehensive be adopted by the Water Board." Strong words in advocacy of the plan were spoken by Ben Riesland and other members of the committee. Flood Danger Passes. KELSO, Wash.. Nov. 6. (Special.) Danger from the high water is now past, as the river today dropped about three and a half feet. During the high water about 500.000 feet of logs and 1000 cords of bolts were carried Into the big boom at the mouth of the Cowlitz, which held everything. Should another Chinook strike the headwaters of the river, a still higher raise is predicted. Conditions are similar as in 1906 when the big -freshet occurred. BLDGKTO BE GIT Plans Made to Add Five Stor ies to Big Building. SIZE WILL BE DOUBLED Olds, Wormian & ' King Building, at Present Five Floors High, Will Be Ready for Occu pancy March 1, Construction work on the Olds. Wort man & King building on the block between Morrison, Alder, Tenth ' and West Park streets Is now about half completed and according to the officials of the Trustee Company, builders, the structure will be finished and ready for occupancy by March I.' According to the officers of the Trustee Company the building will not long remain a five-story structure as at present. In stead it is expected .to put an addition of five stories on the steel structure within a very few years, or as soon as the locality justifies such action. To this end the columns, supports, foundations and walls of the building are being made heavy enough for a 10-story building. Judge Wood, of the Trustee Company, says' that s)e believes this addition will be made before the building has been completed more than two or three years, as the trend of the city is keeping on moving west ward and already Tenth street Is be ginning to be considered well in the business section. The huge' structure occupies an en tire block, 200x200 feet in size. It is built of steel and concrete and is ab solutely fireproof In construction. When completed and turned over to the leasors. Olds, Wortman & King, there will be liardly a stick of wood in the structure. The building will be five stories high at present and will be occupied en tirely by Olds. Wortman & King. The total cost of the building will be $800. 000, including the mercantile and me chanical equipment, such as heating plant, elevators, shelving, show cases, lighting, etc. The property, which, is owned by the Pennoyer estate, is held under a 50-year lease by the Trustee Company and Is sub-let to Olds, Wort man & King for a term of 25 years. . Although there will be but little wood used In . the actual construction FRAMEWORK OF BIG DEPARTMENT STORE IS NOW COMPLETED , . , . .- If- ' ' ,fSK V' ' ,1 X 1 ' v 1 r ' '' -'3fj UK" iL V. - : : : " 1 -iirf j i ft Hnrl ULDS, WORTMAN K1.G BllI.DI.NG AT TEXTH A.D ALDER STREETS. .! - If VOswVVUrV Mitt -X J WWWU' WB- - H Si SV , w - 1 IN M A l . S.. a a, -til - 0 -' (3L a-a M 7 of the building, the floors will be bult of hardwood on account of the many occupants, and patrons of the building being compelled to be on their feet so much. The wood 'floors, however, will be placed upon cement foundations and all the staircases will be of cement. C. R. Aldrich. architect for the Con solidated Trustee Companies, is the architect for the building. LEASE TAKEN ON FLATS MRS. WHEA1DOS SECURES PIT TXEKAU APARTMENTS. Modern Structure at Park and Tay lor Is Taken Over at Good Figure. " A five-year lease has been taken on the apartment building just completed at the southeast corner of Park and Taylor streets. The lease was taken by Mrs. Alice B. Wrhealdon, proprietor of the Hobart-Curtis. and is made on a basis of a good return to the builder on the In vestment. The four-story apartment building was built by E. Pittlekau. propri etor of the Portland Restaurant, at a cost of J60.000. It is a handsome struc ture, designed by Emll Schacht & Son, architects. The new building has just been finished and presents an appearance of beauty. It is of the Tudor style of architecture and is built of red pressed brick and sand stone trimmings. There are really five floors to the building as the high base ment is arranged with apartments. The new flats are butlt with commodious apartments of two, -. thf ee, four and five rooms each. On each floor there are three two-room aipartments, three three room apartments and a four-room apart ment. On the ground floor there are two two-room apartments and one large suite with five rooms. There are also In the. basement 27 Individual storage rooms, one for each apartment. In the basement there is also a vacuum heating plant, a laundry, a room for an air . cleaning plant and a service room for the janitor. The building is fitted throughout with hardwood floors. The dining-rooms in each apartment are wainscoted and every flat is equipped with disappearing bed steads, a kitchenette with all modern ap pointments, such as tireless cookers, re frigerating appliances, etc. Each apart ment has a modern tiled bath and dumb waiter service connecting with the janitor in the basement. The building is equipped with en automatic control' electric pas senger elevator. Chehalls . Realty , in Demand. . CHEHAL1S, Wash., Nov. 5. tSpe ciaL) Realty-in Chehalia is reasonably active, considering that there is no boom on at thia place. C. J. Harrison has purchased the H. S. Temple prop erty, on Pennsylvania avenue, for $5500. U. E. Harmon sold his residence to Mrs. Mary Slagle for $3500. Charles Dleck man bought the Oddfellows property on Market street for 4000. Julius Schier purchased a business lot on Chehatls avenue from F. M. Settemaier and L. Kuehner. H. Harrison bought a lot alongside Mr. Schier's purchase. R. McCord and B. A. Bartholomew bought the-Kitchell blacksmith property, in the business district, on Park street. Other sales will run the total for the week up to many thousands of dollars. The Wonderful "Aladdin" Lamp THE GREATEST TRIUMPH OP MODERX SCIENCE. THF. MOST WONDERFUL DISCOVERY EVER MADE BV MAN. Absolutely safe, odorless, noiseless, simple and with out' a question the best artificial light in existence. The "ALADDIN" generates Its own gas from any grade of kerosene oil, producing a light far superior to elec tricity city gas or gasoline at Vt, the cost. Beware of imitations, sel that you get the "AXADDIN" and no other. Our trademark "ALADDIN" on every burner. For further particular? write THE MANTLE LAMP COMPANY OF AMERICA, DEPT. J., PORTLAND, OR. This wonderful lamp can be seen at the PORTLAND GAS MANTLE CO., 248 ALDER STREET. TTT7 T-JfTn fmT7T7T7T TTT V mi l mm yon can buy a suburban ACEE HOME for less than you can buy a suburban LOT; in fact these acres are reached quicker than the lots. These acres have better SOIL, and more possibilities for an advance in value than have the lots. We are talking about METZGER ACRE TRACTS which are situated on the OREGON ELECTRIC RAILWAY (SALEM LINTE the line that is contemplating many improvements by extensions and branches). Take car at Front and Jefferson streets and in 30 minutes you can go out and look at METZGER ACRE TRACTS. THERE IS NO SUBURBAN PROPERTY LIKE IT. Our Agents are always on the ground to show you the property, which we sell on the "easiest of terms. . Price $250 and up per acre, Ten per cent down and 3 per cent of the purchase price per montli. . Remember, it is only a 30-niinute ride from the Jeff erson-street depot. For further particulars and plat, call at our Portland office, 226 and 228 Front street, or at our office at METZGER STATION. City Phone, Main 474 and A 1374. Metzger Station Phone, Main 6409. HERMAN METZGER, Owner n