lO
THE SUNDAY OREGOXIAX. PORTLAND, APRIL 3, 1910.
NEW LEASES MEAN
LARGE BUILDINGS
Improvement Plans re Fea
ture of Week's Develop
ments in Real Estate.
RENEWED ACTIVITY SHOWN
Sales In. Down-Town District Reflect
Good Tone of Market fniMrtant
Ileal a in Outside Acreage
Are Reported.
Last week was momentous in the his
tory of realty transactions in Portland.
The feature qt the week was the ar
rangement of several large leases,
which will result in the construction
of handsome buildinprs on the leased
properties. Sales in the downtown dis
trict were little behind the leases in
Importance. There was an instant re
vival of the active trading- and not
only was this noticeable in the down
town properties, but important tracts
of acreage were dealt in all over the
tate, large development plans were
announced and everywhere evidence
was given of the rapid growth and
development of Portland and Oregon.
Sales of residence lots in the newly
platted additions continued on the same
scale as in the previous week. Down
town properties, especially along the
Park streets. In South Portland, on
upper Alder street and in the Nob
Mill district were also iactors in sev
eral sales, those along Park and West
Park streets being even greater than in
any previous week, despite marked ac
tivity ti.e last three months in this
ection.
The closing of three large leases
was, however, the principal factor in
an active week. The first of these deals
to be closed was the lease for 50 years
by M. W. Hunt, of the Portland Flour
ing Mills, to Matthew P. i.ac, of Chi
cago, of the northwest corner, 50x100,
of Park and Morrison streets. This
was leased on a basis of 6 per cent net
income on a valuation of $225,000 for
the full term. In the lease is included
an option to buy the property within
a year at $200,000. The purchaser will
erect a 10-story Class building, cost
ing $300,000. It will be used lor a re
tail dry goods store and tenanted by
Mr. Raf. Mr. Hunt bought this prop
erty from H. M. Cake last Summer for
$150,000. The lease goes into effect in
SO days,- or as soon as the present ten
ants move from the location.
The second of these large leases is
for the 50x100 feet at the southwest
corner of Park and Washington streets,
which was leased by Piatt & Piatt, at
torneys, for 30 years. This property,
owned by I. F Durkheimer and Jeo
JTrlede. was leased for a ground rental
of 6 per cent on $250,000. or a rental of
$1000 a month at the start, Increasing
$100 a month every five years of the
period of the lease. It is 'at present
occupied under lease by the Royal
Bakery Company. Thts lease expires
in July. 1911. 'when the new lessees
will begin the erection of a 10-story
building for office purposes. This
structure will cost in the neighborhood
of $200,000. The owners bought this
property 17 years ago for $16,500, when
it was bringing in a rental of $120 a.
month.
The third lease was of 175 feet on
the south side of Burnside street be
tween Seventh and Eighth streets.-This
was leased to Lowengart & Company
as a site for a six-story building to be
built at a cost of $100,000 by the own
ers. Work will begin st once and be
rushed to completion. Vtennes & Hend
ricks are the architects. It may be
completed this Fall. Mr. Lowengart
will occupy the biMldlng with his
wholesale millinery establishment.
This lease was negotiated for a term
of ten years on the basis of 7 per cent
Interest on $100,000 ground valuation
and the same for the building. The
property is owned by Burke & Ilaak
-.and was bought by them last Summer
for $i5,500.
In the vicinity or the Broadway
bridge landing on the East .Side ac
tivity has been noticeable recently. An
apartment-house. at Cherry and
"Wheeler streets, containing seven
modern apartments, has been sold
through the agency of A. II. Blrrell &
Company for $14,000. The same firm
reports the sale of a qtiarter block
at Kast Fifty-third and Belmont streets
for $4400, and several other smaller
aies of outlylnj? property.
Along the Park streets the sales have
been especially heavy. Sales reported
last week include transactions of from
$10,000 to S.lti.000 In this district. If.
M. Leffert bought a corner at Park
and Jefferson for $.".6,000: the Beacon
Investment Company bought a lot at
Wert Park and Columbia for $22,500
.and sold it for $25,000; K. L. Shull
' bought a quarter block at "West Park
.and Jackson streets for $31,000: the
jPark Harris Investment Company
'bought a lot at Park and Harrison
streets for $15,0o0; James Hislop sold
a lot at Seventh and Harrison for
$13,500 and other sales in the same
vicinity were reported. These sales
all were made at prices indicating a
snarp advance over prices paid a few
months ago and the great activity has
probably been brought about on ac
count 'of the low valuations which
have been placed upon properties
along these two streets.
Sales on South Twelfth and South
Klevcnth streets were also a factor iu
the week's trading, three deals having
been completed at figures ranging
from $11,500 to $21,000. These were
for properties at Twelfth and Harri
son and at Eleventh and Montgomery
streets. A quarter block at Twelfth
an dHarrisoii brought $t:i,000. a single
lot on the same intersection $13.po
and a single lot at Eleventh and Mont
gomery $11,500.
A local wholesale company whose
name is withheld has purchased loOx
100 feet at the northwest corner of
Kleventh and Glisan street from Eu
gene Pirrard for $42,000. The property
Is improved "with old dwellings, but
these win be removed and replaced
with a brick warehouse. The sale was
made through the agency of Uold
vmltb. & Company.
J. K. tern. a ladies' tailor, located
en Washington street, has bought a
fractional lot. 48x66 feet, on the north
aide of Alder street, 50 feet west of
Twelfth street. The property was
bought from George Heusner for $53,
000. Mr. Heusner had owned this prop
erty three years. He paid $15,000 for
It. The new owner will construct a
brick Juildlng for his own occupancy.
E. C Nicholson has bought 50x100
feet on Aspen street ort Willamette
. Heights from X. K. Jensen for $5750,
Tha property la Improved with a mod
ern seven-room residence. It was
bonght through the agency of the
Union Bank & Trust Company and
will be occupied as a home.
J. Russell and Fred Fritz have pur
chased 100x114 'feet on East Twenti
eth and East Ash streets from E. A.
Baldwin for $10,000. The property is
improved with a modern nine-room
residence which will be occupied by
Mr. Russell as a home. The sale was
negotiated by the E. P. Mall Company.
The Western Oregon Trust Company
and the Clark-Cook Company have
purchased 33 lots In Menefee Addition
form W. Walker' for $25,000.
They
were bought as an investment.
The real estate offices of the Brong
Steele Company have been moved to a
ground floor location in the Lewis
Building. . The . new offices are being
equipped with handsome mahogany
fixtures and fittings.
I.ester Park Bungalows Sold.
F. A. Sherman & Co. announced the
sale in Lester Park, southeast corner
of East Twenty-nfth and Wygant
streets, from George F. Barber to
George P.. ntngle for $2500. This lot
is improved with a five-room frame
bungalow . and was purchased for a
home, the new owner taking possession
at once. A lot 50x100 feet at the cor
ner of East Fifteenth, near Alberta
street, improved with a new five-room
bungalow, was sold to George W.
Tabaka for $3000 and an unimproved
lot at the southwest corner of East
Twenty-third and Going streets was
sold to F. A. Sherman for $800.
BUILD BUDDHIST TEMPLE
JAPANESE PLAX FOR
OF WORSHIP.
HOUSE
Site on Tenth - Street Xear Everett
Soon Be Scene of Build
ing Operations.
Mill
A. C. Ewart, architect, has prepared
plans for a Japanese Buddhist Temple,
to be erected on Tenth street, between
Everett and Flanders streets. The con
tract for the structure has been award
ed to Zanello & Sons, the cost to be
$15,000.
Plans for the building were prepared
last Fall, but owing to delays the start
was not possible until now. The build
ing will be a three-story brick, 47x50
feet. The first floor will be used as a
place of worship and the other floors
for various purposes.
Roberts & Roberts, architects, have
prepared plans for a two-tory brick
building to be erected at the northeast
corner of East Tenth and East Everett
streets. The structure will be 50x100
feet and will be used for laundry pur
poses. The cost will be $15,000. Work
will be started in the Immediate future.
Kelso Man Buys in lrvington.
James Wallace, of Kelso, Wash., has
purchased a quarter block at the south
east corner of East Nineteenth and
Stanton streets, and also a quarter on
the southwest corner of East Twentieth
and Stanton streets, from the Irvington
Investment Company for $7500. This
half block is in the choicest part of Irv
ington and Wallace bought with the
Intention of erecting a home this
Spring.
B1GBUYS NUMEROUS
Demand for Oregon Farms Un
usually Strong.
ALL KINDS ARE INVOLVED
Thirteen Lots Sell In Welch Borough
The following sales have recently
been made In Welch Borough, on the
eastern slope of Mount Tabor: O.
Rowe. lot for $875: John Oliver, two
lots for $1700; W. A. Hopkins, lot for
$800; J. H. Heim. lot for $800; A. Sleep,
lot for $900; N. P. Hansen, lot for $800;
Hughes Bros., three lots for $1900;
John Wards, lot for $1000; O. Rowe,
two lota for $1800. These lota all are
on high ground.
Xew Apartment-House Starts.
D. JIoKeen has drawn plans for a
three-story apartment-house to be erected
on East Fourteenth and Madison streets
for Mini P. H. White. Excavations have
been started for the basement of the
building. It will be an attractive structure.
Sale of Wagon Road Grant Leads All
Realty Transactions Central
Oregon Tracts and Willamette
Fruit Lands Change Hands.
Great as has been the demand for
property in Portland, the swarm of
investors seeking farm lands seems to
toe even greater from the wealth of
pales in great tracts of acreage which
were reported last week. Deals in this
class of real estate Indicate a great
influx of well-to-do settlers locating
in Oregon from the East, and that a
large amount of Portland capital has
recently been going into the lands
lying tributary to this city.
Paramount in these deals is, of
course, the great undertaking in Cen
tral Oregon, where Minnesota capital
ists are. buying 800.000 acres of land,
comprising the holdings of the Wil
lamette Valley & Cascade Mountain
Wagon Road corporation. This great deal,
involving upwards of $6,000,000, will,
if finally closed, result in the opening
up of a great tract of timber lands, in
volving hundreds of thousands of
acres, and said to contain 3,000,000,000
feet of timber, hundreds of thousands
of acres of wheat lands and a great
quantity of the rich undeveloped land
of Central Oregon. With this deal
comes the strong probability that a
railroad is to be built connecting
Eastern, Central and Western Oregon
by means of a cross-state line.
A large deal in timber, negotiated
last week, was the purchase of the
Siracoe Chapman holdings in the Chap
man Timber Company by Henry Tur
rlsh and associates of Minnesota. This
involves a tract of 17,000 acres of fine
timber located back of Scappoose, and in
cludes a fine logging railroad.
Record Sale Closed at Mosier.
In fruit lands, one of the most im
portant purchases was the buy of 230
acres of rich apple land in the Impor
tant Mosier district by C. A. McCar
ger, of the firm of McCarger, Bates &
Lively. This land was bought from
George Sellinger for $40,000. It is lo
cated one mile east of Mosier, In the
heart of the rich non-irrigated -fruit
land section. This deal Is the largest
ever negotiated in that district.
The new owner will plat the land
Into tracts of 10- and 20 acres and
place it on the market jis apple land,
under the Mosier co-operative fruit
raising plan. At present the tract is
being used successfully in growing
apples and prunes, although the
greater portion has been used as a
hay ranch. Mr. Sellinger made a for
tune from the nay on this tract, se
curing last year an average of four
tons of hay per acre. The land will
be sold at Mosier through the agency
of jIcGregor & Bothfur and at Port
land by McCarger, Bates & Lively.
There has been considerable activity
in farm lands in the section In and
around Prinevllle. Three deals were
consummated last week representing a
total consideration of $77,500. The
largest single purchase was made by
George Russell, a prominent horse
buyer from Tacoma, who tought the
C Sam Smith ranch, up the Ochoco
River, for $55,000. The ranch contains
8260 acres, of which 3360 acres were
owned by Mr. Smith. The remaining
5000 acres were leased lands. The land
is good alfalfa land, and from 300
acres has been producing an annual
crop of 600 tons. The greater portion
is pasture. Mr. Russell will develop
the tract as a stock ranch. He has
been running horses on the range in
that vicinity for several years.
Another deal was a sale by Will
Wursweller, of Portland, to Frank Cox.
Mr. Wurzweller sold his 140 acres of
MOW TO MM
NET
Buy Some Lots in the City of Othello, the Logical Railroad
Center of Eastern Washington, Supported
by 400,000 Farms
Othello is the logical center and gateway of the
Inland Empire's great western farm and orchard
land. It is division headquarters of the Milwaukee
road, and the natural radiating point for feeder
branches already under construction both northerly
and southerly. It is the natural location for the fu
ture great metropolis, with unusual advantages for
successful manufacturing and other industries, and
all the requisites for effectually and conveniently
carrying on the limitless commerce of this wonder
fully productive region. It is difficult to estimate
the possibilities and the certain destiny of this beau tiful
country, which may conservatively be claimed
as logically tributary to Othello. There is a region
about 140 miles in length east and west and about 50
or 60 miles in width north and south. For the sake
of moderation, cut this down to a width of 50 miles
and you have no less than 7000 square miles of land,
and allowing 480,000 acres as unfit for cultivation,
this will show that the areable area of first-class farm
land in this territory embraces 4,000,000 acres. As it
has been amply demonstrated that 10 acres of this
land is sufficient to make any large family comfort
ably wealthy even without growing fruit, to which
this land is naturally adapted in the highest degree
this provides 400,000 10-acre farms, capable of main
taining a population of 2,000,000 persons. Othello is
a model townsite, laid out on the 20th century plan.
Although less than a year old, it is already assuming
the mode and manner of an important city. An emi
nent and well-known landscapist and horticulturist
has been secured for a long term to devote all his
time and art to the arboreal beautif ication of Othello.
We are formally placing-the choice business and resi
dence lots of Othello on the market, and if one is to
judge by the volume of business already done by us
in our offices at Spokane, Seattle, Tacoma, Everett
and Bellingham, as well as our office here in Port
land, it would seem to be a foregone conclusion that
our choice holdings will be snapped up within 60 days.
Now, Mr. Investor, Home Seeker or Working
Man, you have planned time and time again to take
advantage of the first opportunity to .invest your
money so it would make something for you. Yet op
portunity after opportunity has passed by you and
you are still at the cross-roads with a few dollars in
the bank drawing interest. Your friend who took up
the chance which you saw, but let go by, is now on
Easy street, made so by his timely investment. Are
you going to continue and be a PROCRASTINATOR,
or are you going to be an "ISER"? We have told
you about Othello in issue after issue of this paper
and you have not yet invested. You know of the
splendid opportunities it offers for you. Now the
thing for you to do is to get in on the ground floor.
The ground-floor man always reaps the largest
profits. Othello lots are now selling on terms so that
you can purchase without missing the cost. Just a
small sum each month. Make your plans so that you
can call at our offices,' and let us tell you something
of this young giant of the West. Write us for free
booklet.
OT
IPMVE1EN
I CO.
P. B. NEWKIRK, Managing; Director
219-220 Commercial Club Bldg. Corner Fifth and Oak Streets
alfalfa lan.d, located on Crooked River,
for $11,000. The third deal reported
from this section was a 200-acre farm
located east of Prinevllle, which was
bought by M. T. Powell for $11,500.
In the T anthill country one of the
most Important transfers was repre
sented in a purchase by Isaac Fergu-
REMOVAL OF SWAN ISLAND ADVOCATED
W. H. Corbett Presents Plan for Enlargement of Lower Harbor and Filling'-in of Low Land on Each Side of River.
''j:Mm
PLAJt FOR LOWER HIIHOR AS OBTUTED BT W. M. CORBETT.
PORTION l" Or.. April ;. To the Kdi
tor.V Through two previous discus
sions effort has been made to show
what the writer believes to be the best
development of our harbor problem.
The first article was Illustrated by a
general map of the harbor, the second
one by a birdseye view of the lower
lowlands of Mock's "Bottom and Guild's
Lake. The extensive areas of these
now ufeK'ss locations would be con
verted Into Ideal factory sites with ade
quate railroad and marine transporta
tion facilities. Various other projects
for accomplishing the same purpose
have been put forward from time to
harbor showing the location of Swan ! time, but none seem to offer the same
Island und the inadequate passage j natural development of what we al
through the cast channel, which Is now i ready have as that suggested by the
exclusively used on account of the dyK- j carrying out of this project. More
i!ic of the west channel. To complete i over, the scheme lends itself to develop-
the argument. Illustration Is herewith
submitted showing the general appear
ance of the lower harbor, which would
follow the removal of Swan Island, and
the opening out of the entire width of
the river at this point for the anchor
age and .passage of deep-sea commerce.
In thts illustration consequent re
sults are shown of the depoait of the
dredged-out material In the present
nient by easy ami economical stages to
meet the growing requirements, and
does not involve any unusual altera
tion of the face of nature.
The first step to secure such a result
will be the carrying out of a projeot al
ready under way by the Port of Port
land Commission in co-operation with
the United States Engineers, by the
dredging out of the west channel.
This should go forward immediately,
as the demands for It are already press
ing. After that the growing needs of
our commercial relations will, deter
mine the necessity for the ultimate re
moval of Swan Island, which can be
done by easy stages, working from the
lower point and adding to the extent of
the mooring basin from year to year.
Every time we take a yard of sand
from this location, to the main land
we remove that much of an obstacle to
navigation and create that much of a
foundation at some point where it Is
needed for our industrial growth, and
no private ownership of any citizen of
this community, who possesses an
ounce of patriotism, should permit the
opportunities of such ownership to in
terfere with a general community en
terpriss. At the same time It is not
expected that reasonable consideration
should not be given to any private In
terest involved, and th, benefits ac
cruing 'to property owners on both the
east and west banks of the river should
be easily adjusted to meet the legiti
mate requirements of the present own
ers of Swan Island. In otiier words
the details of the accomplishment can
be left to ordinary business arrange
ments between our representative citi
zens whose property ownership is in
volved. . "
The scheme haa been presented and
outlined by the writer with absolutely
no motive except that of securing for
this port the grasp of commerce and
dignity of appearance, which it de
serves. No claim ' 1 made as to any
novelty of thought In the premises, but
merely an Illustration of results, which
will appeal to those who have not ac
qualnted themselves with the logic of
Portland's position as a challenger for
Paciflo Ooast supremacy.
TV. H. CORBETT.
son, a horticulturist of Chicago, who
bought 200 acres in the highlands near
Sheridan from John H. Hall and
George E. Waggoner for $15,000. The
entire tract, which Is high-grade fruit
and walnut land, will be planted to
commercial orchards.
In the same locality Angus JIcCul
lough bought 150 acres from the same
sellers for $12,000. Mr. McCullough
will devote a portion of the tract to
fruitraislner, and will use the remain,
der for alfalfa and general farming.
F. R. Foster and Eastern associ
ates have purchased a 240-acre tract
from George 15. Waggoner for $55 an
acre. This land will also be devel
oped. This tract ia also located In the
Yamhill country In the same 'vicinity
as the other two purchases.
A - sale of 6000 acres located near
nermtston was reported last . week.
This land was bought bj- Dr. H. W.
Coe, of this city, and associates, and
lies under the Umatilla Government ir
rigation project. It ' has already been
watered. Numerous other land and
ranch deals were reported for smaller
amounts from practically every section
of the state.
Bakery Will Build on Belmont.
J. M. Wallace has been awarded the
contract for the erection of the three
story building for the New York bak
ery on the corner of Cast Seventh and
Belmont streets for $40,000. It will
coyer 100x100. Excavations have been
started for the basement of this build
ing. Goddard & Wledrick sold a 60x50
lot on the southeast corner of East
Eighteenth and Alberta streets for H.
A. Walker to Peter Nelson for $8000.
The property Is Improved with a two-
story frame building used for stores
with flats on the second story, all of
which Is rented.
Flats Will Cost $30,000.
Excavating has been started for the
basement of a three-story brick base
ment apartment house to be erected on
the southeast corner of Each Couch
and Eighth streets for I. C. Major, who
recently bought the corner lot for
$6600. The building will be 60x100,
and the cost is estimated at $30,000. A
feature of the building is that all the
rooms will have outside fronts. Wall
furniture will be Installed in each flat
J. Bryson Moore, architeot for the
Portland Realty & Construction Com
pany, has drawn the plans for this
building. It will be one of the finest
apartment houses erected on the East
Side. Mr. Major recently came to Port
land from Spokane.
JT S T READY FEB. SSth, ISIO.
California Bungalow
Homes
The newest, beat, moet practical and
most comprehensive Book of the Bun-
falow; 300 Illustrations of the beauti
ul bungalows of Los Angeles, Pasa
dena and environs; exteriors, floor
plans. Interiors, mantels, buffets, doors,
etc.; costs and descriptions. Homes
costing: from $350 up. Price on dollar,
postpaid- The Bungalowcraft Co., 403
Chamber of Commerce, Los Angeles, Cal.
Builders Taking Great Interest
More attention is now paid to lighting
fixtures than any other decoration of the
home. The new designs just received by
the M. J. 'Walsh Co., from the leading
manufacturers, are the richest and most
practical ever shown jn Portland.
You should see our beautiful line of
Tiffany lustercd and imported lines of
glassware.
It's worth investigation. V
M. J. Walsh Co.
TILING, WIRING AND ELECTRICAL SUPPLIES
311 STARK STREET, NEAR SIXTH
Main 879.
Both Phones.
A 1879.