13
TIIF SUNDAY OREGONIAN. PORTLAND. MAT 14. 1911.
APARTMENT-HOUSE ON SIXTEENTH;
HOTEL ON MADISON STREET FINISHED
James N. Deiendorf's Apartments Contain Only Outside Koonu Mrs. Rose- White's Hotel Has Stores on First
Floor, Booms Above. .
m
o
j. .'." Ill- H'&ki. fa
'late 8
11 S5J '
V
1 CiTijrOv
Larg
F
At Mt. Tabor, in and Around
Bmefin
net
Than Any Other Section
in Portland That Means
F:
Air
This is a highly restricted district on the sunny slope of Mt.
Tabor, east and north of 55th and Hawthorne Ave.
" May we show you this addition?
Gli
.apm
fi'Meriow
332 Chamber of Commerce
SjzjR.csc Whtte. Bxsil&jmg . TCE.Cq&mzzr. Si: cans? jccj JttrDifosc.
"HE four-.tory hotel building erect
I ed at the northeast corner of Bee-
on a anil Madlcon atreeta for Mrs,
Roa White, widow of Isam White, is
boat completed. The lot la 45 by 100
feet and the flrat floor la divided into
five atorvs. three fronttna: on Second
street. The entrance to the hotel ia
on Madlaon.
The huildlna- Is of mill construction
with' pressed brick exterior, and cost
143,000. The three upper floors contain
48 rooms, some being- arranged with
private baths. Kmll Schacht A Son are
the architects,
The apartment house of James N.
Desendorf, oa Sixteenth street between
Salmon and Taylor, la flalshed. It la
four etorlea high. 6i' by 100 feet. The
building; contains 16 ' five-room a part -ments
and there are two three-room
apartments, besides the Jt.nltor's quart
ters In the basement. The building- Is
furnished with the uxual modern equip
ment. Including; disappearing beds,
dumb waiters, laundry, etc. There Is a
stone entrance with marble vestibule.
The entrance hall and stalra are of
quarter aawed oalc. - Kvery room Is an
exterior room. The building- was de
signed by Clanssen & Claussen. archi
tects, and cost $45,000.
BANKS
IS JUNCTION
United Railways Extended to
North Tualatin Town.
TILLAMOOK LINE CROSSED
Rapid Development of Country With
Immediate Growth of Town Pre
dictfd F.lcctrlc Addition Plat
ted Half Mile From Banks.
Wltb the, extension ct the United
Hallways to Banks, a new subdivision
known as Electric - Add'tion has been
platted at the present terminus of the
electric line and at the Junction of the
United Railways and the Pacific Rail
way 4k Navigation Company road. Tha
electric line strikes Banks about a half-
mile from the heart of the old town. It
la expected that Banks will extend to
the Junction of the two lines as the vaat
timber, farming and agricultural country
Is developed Banks Is now reached
from Portland by - a direct route. ' The
line was recently extended from North
Plains an4 the distance from Portland Is
given as ST miles. This nuts Banks only
14 miles from the deep-water terminal
of tha Cnlted Railways at Burlington,
where the products of the mill and for
est shipped from the North Tuala
tin and Dairy Creek valleys will find
water transportation to any port on the
civilized globe.
Prevision has been made for future
connections between the two roads and
for a switch to the sawmill and other
Industries now in operation. With the
coming- of many new people to settle
on the small farms In Dairy Creek Val
ley It la predicted that Banks will
grow to a considerable town In a very
few years. Tha town of Banks Is sur
rounded by beaverdara and rich bottom
l.inds. The hillsides are famous for
their fruits jkad vineyards. The princi
pal induatriea of tha town are sawmills,
a creamery end fruit evaporators backed
by diversified farming, dairying, hop
raising, gardening and fruit culture.
The dairy business la capable of develop
ment on a large scale. Electric Addition
was platted to provide for the growth
of Banks and the bualness that will de
velop at tha Junction of tha two lines.
Prom now on It Is believed that tha
erawtJk of Banks will ba in proportion
to the rapid development of the tur
rounding country.
The service of the United Railways
to Banks at present Is four round trips
dally. This gives the citizens and farm
era an opportunity to visit Portland,
transact business and return the same
day. with time to- spare. - Products of
farm, both large and small, will be
hauled to the Junction of the two roads
for shipment to Portland and other mar
kets and electric transportation will
serve to make the small farm equally
as profitable aa larger ones. , '
North Plains, the new town , in the
North Tualatin Valley, was the terminus
of the United Railways- until the line
was extended to Electric Addition. The
citizens of Banka are wide awake and
prosperous, and their Commercial Club
Is already identified with the Oregon
Development League. The town . has
hotels and restaurants, banks, a news
paper, several Industries, with others
seklng- sites. A campaign of publicity
Is to be undertaken In order to give
Banks and this section of Oregon wide.
spread publicity- during- the next-' 1
montns. . .
SMALL FARMS SECURED
SETTLERS BUT ACREAGE NEAR
' TOW JT OF CAXB V.
About 1800 Acres Taken Over In
Parcels by Newcomers Prom
Many Eastern States.
CANBT. Or May IS. (Special.) It
ia estimated that 1800 acres in this
vicinity have changed ownership since
the first of the year. The land has
been purchased largely by persons from
the Middle states as well aa from, the
inter-mountatn country, who have be
come tired of the rigorous climate
there. - Most of these people were led
to this state through literature sent
out by the Portland Commercial Club.
Many have purchaaed land in tracta
from five acres up to 40. and a few
bought -heavier for speculation.
A goodly number have already taken
possession of their new - homes, while
others have returned to the old home to
close up their affairs and will return
during the coming Summer. Those who
bought for speculation invariably se
lected the bottom lands along the Mo
lalla River. Much of this wjs logged-
off-land" and was sold much cheaper
than the small tracts . closer In. the
latter being- in an exceedingly high
state of cultivation, and was but re
cently placed upon the market.
This Influx or newcomers means
much for this "neck 'o the woods" as
it haa brought a very desirable class of
citizens to Clackamas County. It la
the Intention -of the majority of . these
home-makers to embark Into intensive
farming on. various scales.
MONEY TO REMAIN EASY
SPEXCER TRASK & CO. FORESEE
NO EARLY C1IAXGE.
Financial- Conditions . Reviewed by
Xcw. York Banking House.
Bond Market Active.
April financial conditions are re
viewed by Spencer Trask a Co., New j
York bankers, la their monthly letter
io nutrea snore & Co., their local rep
resentatives. The letter follows:
NEW YORK, May 1. Ths bond section
particularly of the security markets closed
the month luet ended in a much mnrm
cheerful- and hooeful mood. Thi, in
;uojmrm, im noi.Decauee there occurred In
April, ujr cnang-e ol moment to ' produce
a better feellns. or that any liu-ident nt
stirring Import arose to trtle the market
Into activity, but that the weight of ac
cumulated "and accumulating surplus has at
last told on tha banks and financial Insti
tution, and forced them to put out their
money wnwe-it - will earn a reasonable re
turn. With trade In general on a receding
scale, good commercial paper recently be
came scarce, and with all but stagnation
relsnlng In the stock market, banks found
It unprofitable to. loan their funds In the
hape of day-to-day money at the nrevaii.
Ins low rates Thus the way was cleared for
hort-term notea, which, besides .ntnvin
a quick market, could be bought' to yield
50 per - cent more than good - commercial
paper had been bringing, and 100 per cent
mors han could be obtained on call loans.
So. eager were the banks for these hm.i
that it took only a comparatively short
time after the movement had gained head
way.' to absorb .the floating supply. Largely'
though, that was ln consequence of the
many new Issues which have been poured
pes the market during the -whole of the
present year. This demand has had the
natural - result of - forcing prices.. ud to a
point where the yield Is now In many cases
none too generous, considering the security
offered.' and It looks as If no further ad
vanceof material proportions can be expect
ed In- that quarter. This ia being better
appreciated, and will In large measure ex
plain why In the last few days Institutional
buying of standard bonds, both railroad
and muntclpaU .has become noticeable heavy,
and has-begun to justify the forecasts we
have made from time to time -In the past
months that the time to buy bonds had ar
rived. '
-with the surplus reserve of New York
banks almost nine times that of last Tear.
and the greatest but one in 13 years, money
promises 10 ruie ror some time at a rate
which will make the better class of bonds
remunerative Investments', particularly since
the present level of prices is low. In this
connection the following statistics repre
senting me composite price or ten hign-grsde
raiiroao. oonaa win oe interesting;
1T-.
For the week ending April 29........ 10O.S2
For the wee ending April 22 100 23
For the week ending April 15 loo
For the week ending April 8......... 100.24
Average for April loo 2ft
Average ior me montns or mil.... 100.44
Average for the year. 1010 10O.72
Average for S years, 1H0R1910. Inc.. 101 4rt
Average for IS years, 18a8-iei0, inc. 10X61
It will be seen from the above that, speak
ing brsadfcr. the average prloa larval baa W I
a declining tendency for years past, with
the significant exception that In the last
week there was an appreciable advance.
We might further point out that so far
cni year the Pond business on the New
York Stock Exchange has shown only a
slight Increase over last year to be exact.
f2h2.482.50O. against S27T.631.800 while the
overturn for April ($55,042,500) waa consid
erably leas than for March t71.090.OOO.
This, however, may be partially accounted
for by the Easter holiday: by the large
trading in short-term notes, to which we
have previously referred, but of which no
actual records are kept, and by the heavy
outpouring of new Issues, averaging for the
last ten days about tlO.000,000 per day.
That the market should have acted under
the circumstances aa well aa It has. Is In
our Judgment an Indication of underlying
strength, snd of an absorptive power of
no mean proportions, and. combined with
the statistics which we have Just Riven
confirms us In our belief that we are on
the threshhold of a broad bond market.
The Indications are" that business will- not
show material Improvement for some time
to come, and thua money promises to re
main easy for an Indefinite period, ir good
crops, favorable decisions by the 8upreme
Court, and the normal needs of - a popula
tion of 0O.O0O.000 should Improve trade con
ditions more aulcklv than now appears likely,
the money market should even then be only
temporarily affected, as our cieavy exports,
which It la estimated will be double those
of the last fiscal year, are piling up a
large credit balance abroad, upon which we
could draw If necessity arose.
Thus all the Indices point to an active
bond market. In which the better grade
of bonds promises to show the greatest ani
mation in the immediate future.
The forces which are on the constructive
side of the bond market do not generally
make for better stock markets, but In this
Instance we should not be surprised to see
a moderate improvement in those stocks
whose margin of safety is sufficient to make
present dividends reasonably safe, even
through a further period of business lassi
County and formerly proprietor of the
old Hotel Waucoma of the city of Hood
River, spent the first part of the week
here making arrangements for the con
struction of a three-story, 50-room ho
tel. The new hostelry, the excavation
work of which has begun, will be
equipped with all modern conveniences.
A steam-heating plant will be Installed
and each room will be furnished with
running hot and cold water. S. C. Wills
who owns extensive tracts of land in
the vicinity. Is developing a power site
and will furnish the new hotel and tha
town with electric lights.
Acetylene torches for use In dense fogs
have been supplied to the Paris police.
Tract on Section Line Road Sold.
A tract of 20 acres on the north side
of the Section Line road, about one
mile east of the Mount Tabor reservoir,
has been sold by Jennie R. Smith to
J. A. Curry and J. H. Haste, for $1300
an acre, making $26,000 in all. The
new owners are hav-fng a survey made
and will plat the tract into 60x100
f oot lots. The 20 acres will make about
120 lots, allowing for streets. The ru
mored Intention of the street railway
company to extend a line along the
Section Line road has caused consider
able development of acreage values in
that vicinity.
Cooks to Have New ITotel.
COOKS, Wash., May 13. (Special).
"Dad" Fouts, a pioneer of Hood River
BEACH PE0PEETT AT
Gearhart Park
"BY-THE-SEA."
Oregon's most popular, all-year-round
resort will prove an excel
lent investment. For informa
tion regarding building sites over
looking the Pacific Ocean, price
of property and special induce
ments to those who wish to build
a home at the 'seaside, communi
cate with , -
Ruth Trust Company
235 Stark St., Corner Second.
Week-end excursions to Qear
hart. Trains leave North Bank
depot. "Write for descriptive
literature.
A Business Proposition to the Business Men
of Portland From a Business Corporation
HOSIER
VIEW
The Largest Single Orchard Tract in the Mid-Columbia Section
Twelve miles from Hood River, situated in the beautiful Hosier Hills, is
now divided into five, ten and twenty-acre orchards. '
i
One Hundred Thousand -DonaTs' Worth of This Property Sold
To some of Portland's shrewdest investors, since opening day, April 16th,
less than one month.
.WHY? WHY? WHY?
Ask the Man Who Bought!
' - "
r We furnish YOU the best proven apple land in the world famous HOOD
RIVER-M0SIER district. We plant the finest varieties of standard apple
trees, conceded by the best known experts in the Hood River district to be
the bestf stock ever used for the purpose.
"We cultivate and bring it into bearing through a period of five years
under the superintendency of the most expert developing organization in
the business. .
We sell it at a price and terms that enable you to acquire an orchard by
-a small payment down and extremely small monthly payments, which can
not seriously affect your needs from your present income, nor need' it inter
fere with your business or profession.
A savings bank that pays bountiful interest, providing you a safe, sure
and permanent income from Hother Nature 's generous storehouse in a spot
favored by the Creator to a greater degree than any other place on earth,
in all the essential things which make happy homes in prosperous com
munities; amidst scenes of indescribable grandeur.
It is to our mutual interest to meet face to face, so call on us, or phone us,
oi-v write us and arrange an interview. ' .
HOOD RIVER ORCHARD LAND CO.
(CAPITAL. $500,000)
Phones: Main 1450, A 6598. 906, 907, 908, 909 Yebn Bldg.
DEVLIN & FIREBAUGH, Selling Agents.