The Sunday Oregonian., May 14, 1911, SECTION FOUR, Page 9, Image 53

TTTE SUXDAT OREGONIAN. PORTLAND. MAT 14, 1911.
9
CORNER AT FIFTH
ID MAD
SON SOLD
T. J. Seufert Buys From Mrs.
L B. Seeley" for $52,500,
and Wi!! Build.
ALDER IS ACTIVE CENTER
Fnrrhas of West Park Corner by
Woodard. Clarke & Co., and
Plan for Seren-Story Build
ing Arouse)- Interest.
T. J. Seufert bought yesterday from
Mrs. L. li. Seeley the northwest corner
of Fifth and Madison streets for $62,500.
i n saie was made by the Portland
Trust Company. It Is the intention of
air. seufert to erect Immediately a tour
or slz-story building to cover the en
tire lot. which Is 75 by 100 feet. Mr.
Seufert has not yet determined the
character of the Improvement, but the
Bret floor probably will be divided Into
tores, with apartments or hotel oc
cupying the upper floors. The lot Is now
occupied by a large frame house.
The feature of the realty market last
eelc "as the purchase by Woodard.
Clarke & Co.. of the lot at the north
east corner of West Park and Alder
streets, and their announcement that
they will construct a seven-story build
in In which to house their retail busi
ness. The bulldlna- Is to be completed
fcy September 1. 11I. when their lease
Do the quarters at Fourth and Washing
ton streets will expire.
Alder Street Grows in Favor.
This transfer Is another evidence of
the westward trend of retail business,
and It Indicates recognition of the con
stantly growing Importance of Alder
street as a retail business center. Com
plete transformation of the appearance
of the street between . Seventh and
Tenth Is Involved In the Improvements
Bow under way and projerted.
The site of the new Pantages Thea
ter at the northwest corner of Seventh
and Alder Is rapidly being cleared and
excavation will be under way this
week. The theater Is to be completed
and In operation by September 1.
Across the street from the new Wood'
ard. Clarke & Company slt the old
Arlington Club property has been
leased by the People's Amusement
Company for 10 years, and the lessees
will Immediately commence the con
struction of a fine motion-picture the
ater. At the northeast corner of Tenth
and Alder the Robert H. Strong build
ing is progressing rapidly. This build
ing Is to be four stories high, and con
struction of the wklls for the second
story Is now In progress.
rartner Fast. I. Uevurts A Son an
nounced recently that they had leased
from the Henry Falling . estate .th
southeast corner of Fifth and Alder
streets, where a 11-story building Is to
ne erected ready to be occupied by
meir ousiness July 1. 1912. Construe
lion win start July IS on the 10-story
steel-frame department store building
lor upman. Wolfe & Co.. which will
cover the half block from Alder to
Washington on the west side of Fifth
street.
Value Doubles In Four Years.
Woodard. Clarke A Co. bought the
West Park and Alder corner from Cap
tain E. W. Spencer, for 1150.000. Cap
tain Spencer bought It four years ago
from Dr. C W. Cornelius for Just half
that sum. Dr. Cornelius had held It
only a few months, having bought from
LauIs Jagger for 140.000. Mr. Jagger
made a fine profit on his Investment,
but had held It several years.
This is only a repetition with some
variation of detail, of the history of
virtually every piece of inside real es
tate In Portland which has changed
hands a Dumber of times In a few years.
There Is a constant advance In value,
and well-informed men declare that
there Is every evidence that the advance
will continue.
Alder street is In a peculiarly favor-
ble position to reap the advantage of
the upward trend in the realty market.
Half way between Washington and
Morrison, the principal buslnesa thor
oughfares, and unobstructed by street
ear lines. It offers an excellent field
for Investment, since prices of realty
are yet well below those prevailing on
the other streets named.
East Side Realty Sells.
Three quarters of the block between
Kast Eighth. East Ninth. Belmont and
East Yamhill streets, was bought from
the Oregon Packing Company by O. W.
Holcomb, Frank K. Dooly and E. P.
Peterson for J5J.0O0. Simultaneously
the purchasers disposed of their Inter
ests in the packing, and O. W. Holcomb
was succeeded by his .brother. Samuel
E. Holcomb. as president of the concern.
It is understood that the California
Fruit Canners Association has become
Interested In the enterprise.
The Oregon Packing Company has
operated a plant at that location for
over 20 years, and the real estate has
increased to seven times Its former
value In this period. Two of the quar
ters were' acquired by the comnanv In
1SJ4 for II500 each, and two years later
an interest In the business was traded
for the third quarter to E. P. Peterson
on a valuation of 14000. The northeast
quarter of the block is held by other
owners.
D. P. Lewis last week bought from
George Stenger two lots in Central
Blo. k. City of Portland, situated on the
east side of Front street, between Ash
and Ankeny. for 1:5 000. The property
pays an Income of to 10 per cent
on the Investment and Is Improved with
a substantial brick building which Is
occupied by a wholesale concern. Mr.
Lewis does not contemplate any imme
diate Improvement.
be materially affected one way er the
other by the Supreme Court decision
with reference to the trust cases. I do
think, however, that the uncertainty of
the tariff situation is quite likely to
hold buslneaa In check for some time to
oorae.
Political Forecast Not Easy.
"It is a wild guess whether the Re
publicans or Democrats will be In pow
er after the next election. It Is ac
cordingly most difficult to foretell
what policies will be followed In the
next few years. But the tariff situa
tion Is the most Important thing of
all at present.
- "The stock msrket has been quiet,
and the bond market, too; although the
latter has shown marked Improvement
In the last few weeks. This Is due to
the fact that a large amount of money
Is now available for Investment In
bonds, which otherwise would be need
ed In regular business channels.
"There has been a tendency on the
part of men who have money to Invest
to hold It pending developments, and
a tendency on the part of men who
never accumulated anything to save
their money and put It away for the
Inevitable rainy day.
"I was much Impressed by the famil
iarity of people In all parts of the East
with regard to actual conditions on the
Pacific Coast, and with reference to
Portland In particular. It Is no mere
feeling of local pride, but the result of
be built at East Thirty-ninth and Han
cock streets.
At the present time but six rooms will
be built, providing accommodations for
about M0 pupils, but provision will be
made for the addition of two more units
of six rooms each as soon as the in
crease In school population In this dis
trict necessltstes the extra amount of
space.
The building will be of artistic design,
with provisions made for the installa
tion of the moot modern and complete
heating and ventilation system, and will
embody all the latest and most approved
features of school house construction.
BHLDIXO TO BE CLASS A
Healr to Build Two 6tories yovr and
Add Eight Stories Later.
Announcement of Joseph M. Healy
last week that a modern building Is to
be erec"ted at once on his lot at the
northeast, corner of Park and Morri
son streets. Is another Indication of the
trend of development In that general
section. While Mr. Healy's building Is
to be only two stories now. It probably
will be extended to 10 stories soon, and
the foundations and steel frame will
be built with that Idea In view.
The construction of the building Is
first-class and It will be a notable Im
provement in that neighborhood. It Is
pany, have purchased 21 M acres on
Atnsworth avenue and East Thirty
third street and platted the land as
Tates' Addition. The tract contains 135
lots. City water has been distributed
through the addition and the streets
will be graded. The company has pur
chased t 1-3 acres on Knott and East
Twenty-eighth streets from William
Dryden. and will have 4he property
platted.
Carbarns 'Will Be Enlarged.
The Sell wood carbarns of the Port
land Railway, Light Power Com
pany are to be enlarged by the con
struction of two new bays or units,
making five in alL The two new bays
will each have a width or 40 leet ana
length of 884 feet, and the cost will be
J50.000 or more.
Monnt Hood Road Will Build Plant.
A block of land In Loveleigh Add!
tlon at Vancouver avenue and the O.
W. R. & N. right of way, was sold last
week by the Brong-Steele Company to
the Mount Hood Railway A Power Com
pany for S6000. The railroad company
will at once commence erection of a re
inforced concrete sub-power station.
Xeate Boys Site for Fine Home.
A. E. Neate, of Neate ft McCarthy.
THESE BUILDINGS WILL SOON BE TORN DOWN TO MAKE WAY FOE MODERN STRUCTURE
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MTR OK SKVKS-STORY Bl ILDIXU TO BIS ERECTED BV WOODARD, CLARKE A CO.
close observation that prompts me to
say that Portland Is becoming better
known and more favorably regarded
than any other city in the West."
TOWNSITE VP AT AVCTIOX
Lots in St. Louis AVIH Be Sold Next
Thursday 'to Highest Bidders.
The new townslte of St. Louis, on the
Oregon Electric 35 miles south of Port
land and 15 miles north of Salem, will
be sold at auction next Thursday, May
18. Auction sales of real estate are
comparatively new In Oregon, but the
promoters declare they have received
enough encouragement to Insure suc
cess of the venture. The property Is
owned by the Capital Trust Company,
of which George P. Dekum Is president
and Charles A. Robertson Is secretary
and treasurer.
The new townslte of St. Louis Is near
the old pioneer town of the same name,
which is oft the electric line. The prop
erty to be sold at auction consists of
14S residence and business lots. This is
the center of a large agricultural ter
ritory and there is no considerable town
In that district at present. This coun
try was settled by the early pioneers
and has been under cultivation for 60
years. Since the Oregon Electric was
built the territory haa been settling up
fast. St- Louis Is only a few miles
from Champoeg, where the Oregon pro
visional government was established in
1843.
The townslte of Donald, on the Ore
gon Electric north of St. Louis, was
sold at auction two years ago. When
the land was sold there was not a house
on It- Now there Is a thriving town,
which is the business center for the
surrounding agricultural community.
Money Cheap In East.
"Business Is quiet and money cheap
In the East." said Wilfred Shore, who
returned last week, having gone to New
York In March. Mr. Shore Is local rep
resentative of Spencer. Trask Com
pany. New Tork bankers.
"I spent six weeks In and about New
Tork." said Mr. Shore, "and I was fa
vorably placed to observe conditions.
Largely as a result of business condi
tions there has accumulated a large
surplus of money In the bsnks. and In
consequence, money at the present time
Is very cheap. The cotton Industry of
the New England states Is probably In
poorer shape than at any time in the
last 10 or 15 years. Building In New
York City has fallen off over 40 per
cent, compared with the corresponding
season last year.
"The dullness in business seems to
have come about naturally and with
out any apparent distress. It Is a very
open question whether the present con
ditions will continue for the next year
or two. or whether a sudden develop
ment of activity will occur In connec
tion with a few industries. This is a
point on which bankers of the East are
divided.
"I do not believe that conditions will
HOTEL COMPANY ORGANIZED
Eastern Lesee of Multnomah. Form
9350,000 Corporation.
Concrete construction on the Multno
mah Hotel has reached the seventh
story and forms are being erected for
the eighth floor. It is expected that
the concrete work of the roof will be
completed within the next two or three
weeks. Infrequent visitors to that
part of the city are amaied by the
progress made and by the Immensity
of the building with ita massive de
sign.
The Multnomah Hotel Company, with
a paid-up capital of 1350.000, was or
ganized last week in Portland in be
half of the Eastern lessees of the
hotel by I. Uevurts tk Son. who have
the contract for the furnishings of the
hotel. The lessees are said to be one
of the most prominent hotel firms In
the country, and their Identity will be
announced soon. The lease waa made
more than a month ago.
A partial strike of carpenters em
ployed on the hotel, which occurred
more than a month ago. haa not caused
any delay, the work going ahead with
a full force as soon as additional men
were obtained.
directly across the street from the site
on which the Princeton Trust Company
recently announced a modern 12-story
building to be built in the near future.
Excavation of the basement of the new
structure has been completed and erec
tion of the superstructure will proceed
without delay, the general) contract
having been let to J. S. Winters & Co.,
and the steel work to the Northwest
Bridge Company.
Granite piers will lend a decorative
effect to the front of the building. The
first floor Is to be devided into five
stores, and ample room is allowed for
the main lobby, which Is to be of mar
ble finish with marble floor. From the
lobby there will be staircases to the
second floor and the basement. The
first story Is to be 20 feet high, pro
vidlng ample space for galleries, snd
the second floor wfll be 14 feet high
The basement Is to have an additional
entrance on Park street and the space
will be prepared for two tenants. Ex
cavation of the basement extends un
der the sidewalks. The second story,
which is to be 14 feet high, will be di
vided to suit tenants. Construction is
to be pushed. The cost will be $75,000.
SIXTEEN LOTS BRING 915,000
T. J. Leonard Buys Property Near
Reed Institute Site.
T J. Leonard has purchased 1( lots
situated at Gladstone avenue and East
Forty-ninth street from John Daly for
f 15.000. These Jots are but a short dis
tance from the site of the Reed Insti
tute, and the sale included three mod
ern residences. A substantial building
will be erected on the corner lot and
the entire tract will be Improved.
Mr. Leonard also purchased 100x100
feet at the northwest corner of Klll
Ingsworth avenue and Halght street
from Edwin R. Connlff for 114.000. Mr.
Connlff had recently completed a mod
ern 10-roora residence on the property.
which goes with the sale.
SCHOOL TO BE OF CONCRETE
Architect Lawrence Designs New
Building for East Side.
Architect Ellis F. Lawrence has been
commissioned to prepare the plans and
specifications for an absolutely fireproof
building of reinforced concrete construc
tion, and will be one of the first fire
proof scboolhouses In the city. It will
DAVIS BCILDS THIRTY HOUSES
Many Improvements Made in Davis
Addition on Villa Avenue.
A large number of attractive homes
have been built and sold in Davis Ad
dition, on Villa avenue, just east of
Montavllla. C. W. Davis, owner of the
addition, has put up and sold more than
30 homes during the past year, and
has just let the contract for nine more
buildings, three to be built for parties
who have contracted to take them as
soon as completed. In this addition the
building restriction is $1500. The wid
enlng of Villa avenue adds to value
of the land, besides the Mount Hood
Railway Intersects Villa avenue at East
Eighty-seventh street, and will provide
car service when In operation.
Among those who have recently tjur
chased property In Davis Addition are
the following well-known people: Ga
rage and bungalow, to W. C Shaver,
general agent for the Baldwin Piano
Company; seven-roori home to J. W.
Conway, of the United States Forestry
Service; H. W. Llndhard. of the Old
Line Bankers' Life Insurance Company,
who bought a house of Mr. Davis; W.
H. Jones and J. P. Boehm, realty men.
and J. W. Hodson have also bought in
the addition.
' These are all recent sales. Probably
in no section of the city has there been
a better growth than in the district ad-
Joining Montavllla on the east. In
Terrace Park a half hundred attrac
tive homes have recently- been com
pleted. The buildings in this territory
run up to about $170,000 the past six
months.
SCNNYSIDE
LOTS
ADVANCE
City Board or Education Loses
$4500 by Waiting Two Years.
The Board of Education paid $19,000
for the southeast corner of East Yam
hill and East Thirty-fourth streets, and
the buildings, for additional space for
the Sunnyside schoolhouse. This Is
$4500 more than the property was of
fered for two years ago, and the price
then was considered prohibitive by the
members of the board. The corner lot
was offered for $5500 and the owner
would have removed the building; and
the two inside lots were offered for
$8000. These terms were secured by
Secretary S. W. Walker, of the Sunny-
side Push Club.
The city bought the corner property
of the Sunnyside Congregational
Church, East Thirty-fourth and East
Taylor streets, for $6200, securing a
little more than two lots, and the lot
on which the new Ford building is be
ing erected, at the northeast corner of
East Thirty-fourth and East Yamhill
streets, cost $5000. The district will
probably purchase the other vacant
quarter of the school block, st the
northeast corner of East Thirty-fourth
and East Tamhlll streets. In the course
of time, when It will own the entire
school block, and be removed from the
menace of the erection of private build
ings adjoining the schoolhouse. .
automobile dealers, bought yesterday
from the Macleay estate a lot in Ard
more, on Madison street, adjoining the
City Park, for $7000. The sale was
made by the Whltmer-Kelly Company.
The lot commands a fine view of the
city, and Mr.. Neate will erect imme
diately a residence costing $12,000.
SOVTH BEND LAND IN DEMAND
Cranberry Property Coming Into Its
Own After Long Period.
SOUTH BEND. Wash.. May li Spe
cial.) After all the years that the cran
berry land of he peninsula. In this
county, has Iain idle, the rapidity with
which It is now, all at once, being
bought up and set in plants is remark
able. The latest along that line is the well
authenticated report that the Pacific
Cranberry Company, of which J". M. Ar
thur, of Portland, is president, has ma
terially Increased Its acreage and de
cided to Increase Its capital stock from
$60,000 to $500,000.
This company has a plantation of E0
acres which has been bearing fruit for
many years, and Is the . only bearing
plantation of any else In the county.
The plan now Is to Increase this plan
talon to 500 acres, and It Is proposed
to plnee a portion of the newly Issued
stock on the market for that purpose.
From the present outlook, it is probable
that 1000 acres of peninsula land, includ
ing that already in bearing, will be set
in plants by another season.
MERGES ADDS TO HOLDINGS
Mrs. P. J. Mann Sells Two Lots on
North Second for $40,000.
E. E. Merges last week bought from
Mrs. P. J. Mann two inside lots on the
west side of Second street between GU
san and Flanders, for $40,000. The deal
was made by Chapln & Herlow.
Mr. Merges already owned a lot and
a ; half fronting on Third street, and
thla purchase gives him Z lots In one
piece. The property has a frontage of
75 feet on Third and 100 feet on Sec
ond. It Is his Intention to erect a sub
stantial improvement, probably next
Fall.
T Intend to wait for the completion
of the new railroad bridge at Gllsan
street before determining just what
sort of building I shall erect," eaid
Mr. Merges yesterday. "It is the opin
ion of Charles K. Henry. Hartman &
Thompson and other authorities on
realty that construction of the Mult
nomah Hotel and the new rallorad
bridge will effect a substantial change
in that section of the city. I expect to
be ready to proceed soon after the
bridge is completed."
GEORGE SOLLARS IS BUILDING
Two-Story Brick Being Erected on
Klllingsworth Avenue. ,
A two-story brick building, costing
$15,000. will be built at the northwest
corner of Vancouver and Klllingsworth
avenue for George Sollars, and 'the con
tract for the erection of the building
has been let to the Wlneland Building
& Engineering Company. It will be 75
by 100 feet and will contain a full base
ment . There will be three full store
rooms on the first floor and four flats
of five rooms each on the second floor.
The store rooms will be fitted up with
plate-glass showrooms. The cement base
ment was completed last ween ana me
brickwork Is under way. Efrot will be
made to complete the building within SO
days.
Progress Is being made by the wine-
land Company on the construction of the
E. M. Baker three-story building on
Klllingsworth avenue, and will be com
pleted within two months.
Marshall-Street Lots Sold.
Beno & Ballls last week sold to
Frank A. Steele two lots on the south
side of Marshall street between Twen
ty-fifth and Twenty-sixth streets. The
consideration was $12,000, and the sale
was made by Wakefield, Fries & Co.
YAMHILL FARM IS SOLD
BCFORD STONE PLACE, NEAR
SHERIDAN, TO BE CUT UP.
Brong-Steele Company, of Portland,
Pays About $70,000 for Fine -Tract
of 800 Acres.
Eight hundred acres of choice Yam
hill County land was bought last week
by the Brong-Steele Company, of Port
land, for a consideration of about $70,-
000. The land is situated five miles
southeast of Sheridan and about four
miles from Wlllamlna. The farm Is
known as the Buford Stone place and
comprises the original donation land
claim of Mr. Stone's father with some
adjoining acreage that he purchased.
There is a good house and barn and
a new tenement house on the place and
the land Is almost all under cultiva
tion. The soli is especially suited for
fruitgrowing, and every foot can be
utilised. It is out of the frost zone.
There are several living springs on the
place and water can be found for wells
anywhere at a depth of 20 to 25 feet.
It is the Intention of the Brong-Steele
Company to cut the farm into tracts of
40, 20 and 10 acres and sell, unless the
whole piece should be disposed of im
mediately. The company also owns 1300
acres In Benton County, which will be
subdivided and sold the coming Sum
mer.
"This farm has been too large to be
handled In one piece," said Mr. Brong
yesterday. In referring to the Yamhill
PROTECTION
ACCURACY
SPEED
SIMPLICITY
ECONOMY
CONVENIENCE
.....ARE ASSURED
YOU WHEN YOU USE
CERTIFICATES
OF TITLE
IN YOUR REAL ESTATE
TRANSACTIONS.
TITLE AND TRUST
COMPANY
ASSETS OVER
8275,000.00
Lewis Building,
N. E. Corner Fourth and
Oak Streets.
Tate's Addition Is Platted.
R. J. Tate and B. S. Tate, who have
organised the Tate Investment Com-
REAL ESTATE DEALERS!
Sell your acreage to the man who wants to buy.
Inexpensive classified advertisements in Middle
West publications bring inquiries from prospec
tive bona fide purchasers.
We know the best mediums.
CHAPMAN ADVERTISING COMPANY
Mala 6ASS. Third and Oak Sts. A 25S5
r-V.' --w.-v iVv v,
nfcr-ftH'" W ilk
1 "V""t
. i - - - -
LUCRETIA COURT APARTMENTS
Situated on West Side of Lncretia St, Near Washington and 23d Sts.
This structure is the most complete and modern apartment-house '
in the city, costing $125,000, and was designed for the comfort and
convenience of its tenants. The building is designed in an L-shape,
with entrance from a large open court with garden and fountain. The
front entrance opens onto a large lobby with office and large electric
passenger elevator. All rooms are extra large, with outside view no
light courts. Each apartment has a reception hall and built-in writ
ing desks, bookcases and buffet, and full-length plate mirrors in the
doors. The kitchens are white tile enamel, with porcelain refrigerators
and Jewel elevated-open gas ranges and elctric dumb-waiters from
each kitchen to the basement. The baths are tile enamel, with medi-
cine chests. The floors of all apartments are of oak hardwood. The
closets are extra large and provided with electric lights. The electric
and gas fixtures were especially designed for this building and fitted
with Tiffany and astral cut-glass globes. Each apartment has a private
locker for storage in the basement. Each apartment has a private
Pacific States telephone, and the Home telephone is on each floor and
is free to.the tenants. In addition to the janitor service there is on
the premises a superintendent who looks after the comfort of the ten
ants. Parties desiring to engage apartments in this building should
make their application to the superintendent, as these apartments axe
leased for a year and references are required.
County tract. "It was impossible to
utilize all the land or to develop even
a small part of Its possibilities, when
farmed as one piece.
"Subdivision of the tract, with conse
quent settling of a large number of
people on It, means much for Sheridan,
because all the people we bring Into
that territory will add that much busi
ness to the place."
What Water Will Do
Official experiments made In the Willamette Valley show that irri
gation during the dry season not only insures the crop, but results in
astounding Increases, as follows:
On Same Land
Without Irrigation With Irrigation
Mf Clover;
iff Increase. MMm
CeDL 'rlSt
m ujp .-t oio o fWm
sjL Onions;, iv
Copyright by J. H. H.
Investigate this before deciding where to locate. For particulars
call on the Willamette Valley Irrigated Land Company, HARTMAN & .
THOMPSON, Sale Managers, Cham, of Com. Bldg. (Ask for Mr. Hartog.) ,
POWELL VALLEY ROAD
Bsiii s Aci oitioii
View Lots for $650 up; on easy terms.
Buy a lot and build. "We will assist you.
Take W-Wcar, get off at 36th st.
H. N. BAIN, OWNER
518 Railway Exchange.
1087 Francis Ave.
FRANCIS AVENUE