The Sunday Oregonian. (Portland, Ore.) 1881-current, May 21, 1911, SECTION FOUR, Image 56

The Sunday Oregonian., May 21, 1911, SECTION FOUR, Page 8, Image 56

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Newspaper Page TextTIIE STJ3CDAY OREGOXIAX, TOKTLAXD. UfAT 21. 1911. MARKET-IS VOID OF SPECULATION Current Purchases of Real Estate Are Made (or Investment. Lyric people take lease hanatgr Theater I Secured for 10 Venr With Adjolnlnc Property I Monthly Rental of WJ50. Bronchi $ In 104. uniformly Improved with residences of tasteful design and good appearance. Houses BowtdiTt must have ventilation and hot water beating before they can answer the demands. When the city first began to spread out In new additions that have since De cern thickly populated, cheap houses were the rule. Only a few years ago dozens of bungalows costing a few hundred dollars were being put up In the additions where no building restric tion was enforced. Ia the end substan tial structures are cheapest, as one will pay more for repairs and fuel when house Is poorly built. A five-room modern bouse ought to cost at least $1000. Anything In five-room modern dwelling that la put up ror 110 or I2000 has been skimped somewhere. Good doors and window casings are big things to remember. In fact, all the mlllwork should be of the beet, something Impossible In trying to Dunn a I3&0O house for . Bt- r plumbing, heating and hardware Is tne cry now. APARTMENT HOUSES COMPLETED, NEW ONES STARTED NEARLY EVERY WEEK Chetopa. Annex. at ISghteenth and Flanders, Is Finlshed-Claypool, at Eleventh and Clay, and Fairmont, on Elev enth, Near Jefferson, Are Now Under Way. wourjuv wins Entire ahsT. e of speculative Inter at th bottom of the preaent-onrtl-in of the InsMe realty market. ITtres .ve been so InduMrlously advanced for oerlcMt of rears that real estate Is now m( held at Its full value, at least. i ex -ept for an occasion! snap m oesra on the mtrlri. tner- is no in- ntlve to. bjv ora. sueculatlon. It was speculative trailing rnmblnea to Portland s remarkable growth mat pt the realty market so active during e years following the Lfwn ana ark Centennial until 11 It Is no Qger poaatMe to make quli'K turns ai aood profit 'on a small margin, be- u.e owners have a pretty lively a- clatlon of the value of their proper Future speculative purchases I jat b ha.ed on continued rapta owth or the cltv. wMrh will natural- add to the value of realty. I onse- :etly. Income must be an Important n.M. ration, as it will oe hmtimj i w rry property a year or more to rea- -e any satisfactory profit. .Vhlle no Inside really Is being bought speculator, there Is a fair demand Investors, and Important sales of character are made almost every Ut a deal of this kind was the pur. 1 of the northwest corner of Fifth 1 d Madison streets by T. J. Heufert IL !eley. Jr.. which was an- unced In The oregonlan last itundny. .a nrlce oaid was iil.ioo. and Mr. t-eu. Irt Intends to erect a building that will ike the entire Investment a profitable Another transaction of this kind was purchase of the quarter block at e southwest comer of Kourteentn ana ach streets, from Oeorge Usrrnre. R . Thompson, for H 1)0. Mr. I lompsoo bought the ground as a site r a three-story and baeement garage. l-ilch will be built Immediately fur the I eedwell Motor Car Company. The I le was made by llartman Thomp This property has shown an advanc about one-third In value since a year o, when It was bought by Mr. l-w- nce from Mrs. II. M. Lawler for $11.- . The ground Is unimproved. It was s site for many years of the Lawler I ery stables. Charlea Sweeny, the Spokane mll- 'nalre mining man. who became .a Irge 6perator In I'ortland realty about years ago. has finally decided to Mpoee of hi. block bounded by Thlr- t.nth. Fourteenth. Morrison and Yaaa.. I streets. Humors that It had been id were denied last week by Charles Henry, who holds the contract on e property. Mr. Henry said that ne llatlous concerning the block were ndlng and might soon he closed. Announcement Friday that the Kat- lf-Flood Company Had leased ine images Theater at Fourth and Stark -eets, at $.'.!j a month, evoked much 'erest. for It was recalled that when :s same frm remodeled the brick able Into a theater building only tie over seven years ago. rhey paid ISO a month rent for the same proper Included In the lease are several s In a frame building, the entire operty being 10O by 100 fret. The Ly Musical Comedy Company will oc- py the theater when the new rent es at Seventh and Aider Is com- I ted. Manager J. A Johnson, acting for AI- lander pantagea, recently renewed the is on the property for 10 yesrs from hruary 1 next, at $:000 a month. In rnlng over the lease to Messrs. Keat- I A Flood. Pant ages makes J3-.0 a nth for the entire term of the lease. The corner has been owned by the enblatt family for about 4' years, hen It was bought the building wss praised at 111. 00 and the ground was naldered of little . value. Now the arter block Is valued at Itoo.ooo. Sign Derlsed to Tell Pnbllc of Rapid Work on Wilcox Building. A prise of S3 offered by the Stone Webster Engineering Corporation for the best suggestion foe the word ing or a sign to 0 placed on the W 11 co building to show ts rapidity of Its construction has been won by C. E. Phu It la. a workman employed on the 'building. The wording was limited to . iniers. 1 re firm or sign adopted follows: -Old Frame buildings stood here o days ago." The display will he made during the Rose Festival and the figures showing the number of davs I letter Ho Being Hullt. I One of the tendencies In the home nstructlon movement that Is becom- I c more consnaeiious every year . la . Increasing number of good house, lit with style and durability, tiood km construction, brick, stone and .ck veneer se.m mo.t in demand now. 1 d many of the finer and more artls- house have eaterlor of stucco or -ne form of plaster Few cities can compare with Port- In the number of di.tri'-t. that are vtO--'VZW i; r' NN --ae- - 2hax prize of W. ' 'I Jiif NN I.-. fi n. M & .c - rr .i r ? 1 will be changed dally. B k'if a - V' . ' Tf'TJ V :' ?' -i ""1 Tri,- I P - ' i s C0..trucn n th. wi.co, hu.ld.ng t.j1I LS ' titt ' W! ! Sf( J "vL Is more than a week ahead of schedule. I ? .' f I '1 ' riT I 1" i- ' I t I '-'i 1 h I'-r&f?" Th. only accident on th. building thus . i ' ' t ft J-i I '"jtslt J: h; 'tiiCi f ; 2 far was the shooting of a sn.p from 51 2 iTlil ft fit U V" L "UITVJu 'aaiSe-r UMlTr-riZ'r (l -.i'-.i'! a rlvet-gun across , he street through 4 L V? Il t r Z-r?P 'T. tjCl- - - - a jewelry re w.ndow a week ago. in 1 ? ' y 3 A ' ''J ,V W VT., ,"rtJ1 l-s than two hours th Ston Web- C '$ ' j? J If ? -g 'WiAiT'S 'i '''tTi'i1i02' a.' ster concern had art aW plate glass 1 jfYft Fl "V ' ' fl I T', 1 1 J ' "-' -, t" 1 1 1 ' 1 1 "U ! ofei aW! w.ndow ,n th. place of the broken on. f P IS J(l f i , U ! i-J.'. J , Z.-l V I y'-V.N nKSr5il and had settled in full with the Jewelry B.-""U ,l' "i lafSl, i: ' ' - ' .nli TTUii PRIEST BITS I?. VAX. REL1I VRST t3BBamBmmBaB it en v ,7T ... . fz-trvocz. -4jj62ei--JTr3-t7 cccr-avg-evjs-crar. ceuerzse rztjvr rro Cctvr' nrll-hnosn Builder Will Erett ln . Honart In OneBlork.' C&3 . . . r-v .'-vr-';- K4rj , .. :Th I II -.' . Ca ,-v 'W" .. .i-wW 'sin ,.' -i.vi r: ; :-.r.-, :- II I IL - ,. Jill i. 11 t. 1 i i-r : i l . ?1 jf ? 1 tit iiil a- . r.s . '-. .je ni ' -.tissws ii.c ; i ";h l ii -h IS SOLD I li.-'. . '.tr-' ' . ' II -x- . ;V-.. w6 .rfr"..J ' II bfev ; - ; : r - -: - ;i ' 1 - V - j vJqek . v.,....-saAvii'.Si- 'L1 a, - j i i - eW- : r!t-'- -av-...:. V..e-. . v.v : wfZiJL-JC.. - JrV e.e-.r..-T.... . Jg, . ""ZT." : o. Priest, a ho la a well known architect and builder. last week bought from & J. Michaels nine lota In block 10. Laurelhurst. for tll.000. The block Is on Iaclflc street, between Peerless Placw and East Thirty-third street. The deal waa mad. by the National lieallv ex i rust company. air. t-rieat will Immediately erect nine houses In Colonial and Uueen Anna siyies. to coat rrom liooo to 7000 each ana to contain from seven to nine room a. The finish of the houses will t or trv. tst and will Include hard wood floors. Kxcavalloa for th. base ments has already been started. The National Jtealty Trust Com pany also reports the sale of a six room house at East Fifty-second street and Hawthorn, avenue from X. P. Bush J- r. Roller, recently from Virginia. The company has also sold for C A. Hoy to vt . rt. Treec. a hous. on Multnomah street. Laurelhurst. for f000. WEST 1IK TR.VCT Flnej View Proprrtr on Barnes Road Will R Platted. Anna L. Mlrkelsenjast week sold to James II. W. Wl.lson a tract of 10 acrea on th. Barnes road, west of th. city, for 1 10.000. The sale was mad. by th. National Realty Trust Com pany. The land Is situated about the future Intersection of Thirty-ninth and Morrison streets when they shall be ex tended, and is near the Macleay Estate Company's tract. It commands a fine new of the Willamette and Columbia rivers and the Tuulatln Valley. The tract will make about 34 lots, ranging from -40 by 100 to 100 by 100 feet. A force of engineers and surveyors Is now engaged In platting the prop erty and It will be placed on th. mar ket ls th. near future. It will b. de veloped according to contour. The soil Is of good quality for lawns and gar dens. Th. Mount Calvary rarlina Is now being built and cars will he in operation within io days. ' northwest coxner of Fifth and Wain streets from B. Seeley. Jr.. Intends to erect a four or six-story brick building on th. site, it is diagonally across th. street from th. City Hall and Is a good location ror an apartment-house or ho tel bnlldlng with stores on the first floor. The property has a frontage of 7s reet on Fifth street and 100 feet on Madison, and there is a large frame house on the lot. The sal. was nego tiated ,by Stewart, Fry & Co. , REALTY BOARD WILL MEET Business to Be Discussed at Lunch eon at Xoon Tomorrow. The monthly meeting of the Portland Realty Board tomorrow will take the form of a luncheon to be held at noon at Richards' Restaurant. Park and Al der streets. At the annual meeting of the board held last month It was de termined that monthly meetings In future- should be held at noon. It was also determined to start a vigorous campaign to lnorease the membership and efficiency of the board. At tomorrow's meeting the plan for establishing a realty exchange will be taken up. Another subject that Is ex pected to evoke a great deal of dis cussion Is the real estate show to be held In Portland next year, under aus pices of the Commercial Club. The Realty Board Is expected to take an important part In the show. HALF-ACRES SELLING FAST Hartman St Thompson Find Many Buyers for East Gllsan Property. Many sales are being made in Gllsan Street Half-Aores, the tract recently put on the market at Villa avenue and Buckley avenue, two miles east of Mont&vllla. Th property consists of SO acres owned by G. F. McDonald, who has spent about seven years placing It all under oultlvatlon. The tract Is only two blocks from a future station on the Mount Hood Railroad. The property adjoins Ford ham acres. which was recently marketed by the same company and enjoyed a remark able sale. Houses TTnder Way In Morningside, Fourteen new houses are being erect ed In Mornlngslde. and others are to be started in th. near future. Morning side Is the new addition on the north east slope of Mount Tabor. The frame dwellings formerly occupied by the San itarium company and known as the Oaks and the Cedars, have been re moved to lots In Mornlngslde and transformed Into modern residences. Fronting on East Seventy-first street Just north of Stark Is a group of four houses which are nearing completion. The corner house of this group Is a fine two-story seven-room residence and Is being erected by J. P. Kellaher. It Is thoroughly modern and well con structed house and is located on a splendid view lot. The other three houses in this group are being erected by T. Q. Anderson, the "bungalow builder," and are very neat and at tractive bungalows with all modern conveniences. Linn County Ranch Sold. Th. Monmouth Real Estate Company last week sold to J. H. Palmer, of Ne braska, 200 acres north of Rlckxeall, Polk County. The consideration was over $12,000. Mr. Palmer is tired of the severe climate In the East and wants to spend the rest of his life In a country where he can be comfortable. He has returned to his Eastern home and will move to Oregon next Fall, bringing with him a lot of fine cattle and horses. He expects several of his neighbors to move West when he does. NEW HOTEL TO RISE Building Will Be on Morrison I and Sixth, East Side. OTHER PROJECTS PLANNED CEMEXT COMPANY BITS LAND Portland Concern Will tahll-li Plant In Jackson County. The Portland Cement Company of this cltv. of which Amon Moore Is pres litem, haa bought a large tract of land In tU Kane's Creek district, west of Hold lllll. In Jackson County. The con sideration was not announced. The land contains valuable deposits of lime and cement rock, and the company has had experts at work testing the depos its during the last two month An op tion on the property was obtained sev eral months ago. The tract embraces about 2S00 acres, nd includes a large amount of timber. There are also four miles of roadbed, one-third of which haa been laid with tie. and steel rails. Th. cement company will proceed at one to develop the property, complet ing the railroad, burl. ling a factory with CONSTRUCTIO? houses continu th. building ONSTRUCTIOX of apart m .ni nes to be a feature of g activity In Portland. New structures of this completed al most every week and new ones started. Iesplte the large numbr of apartment houses now In operation, nearly all are well-filled, although rents generally are high. The Chetopa Annex apartment on the west side of Flanders street near Eighteenth, have Just been completed by W. K. Griffith who Is designer, builder and owner. The building Is live stories high. 41 by 95 feet, and ad joins the original Chetopa apartments, also owned by Mr. Griffith. Th. Che topa Annex contains 35 two and three room apartments. It Is finished with hardwood floors throughout, and ia provided with automatic elevator. The equipment Is up to th. standard of modern apartment-houses and includes wall beds, individual phones and dumb waiters. The cost was $30,000. Morgan. Flledner A Boyce are con structing two apartment buildings on Eleventh street not far apart. The Claypool Is being erected at the south west corner of Eleventh and Clay, where the Morris Marks residence stood for many years. The lot Is 60 by 100 and the apartment building is to be five stories high with full basement. The construction Is of red brick. It will contain 3S two and three-room apartment suites. The cost will be J75.000. The Fairmont Is being built by the same firm on the east side of Eleventh street near Jefferson. The exterior construction has been com pleted. The building is four stories high and covers a lot 33H by 100 feet. It will contain 25 two-room apartments and will cost $33,000. 400 barrels dally capacity, and estab lishing a group of eight Urn. kilns. St. Louis Sale I Postponed, tal. of the townslte of St. Louis, on the Oregon Electric Railway 3S miles NXW BAXK QUARTERS AT HILLSB0RO TO BE EQUIPPED WITH ELABORATE FIXTURES. r m. m m . a-r- " I . I I ' i I l- i ' 1 I'-aT M il in 11 ft 1 1 1. "-""" at. BIILDIQ "EIXO ERECTED BY AMERICA XATIOMAL BA.VK AT HILLSBORO. Walls are about half way completed for th new two-story bul'dlng of th American National Bank at Hlllsboro. The structure was designed by Bridges at Webber, architects, of Portland. It Is to t. 40 by l feet, and th bauik will ccupq jart.rs to by 40 ft on th first floor. Thar will b two imal Btora for rental. Th hank acquired th elaborate fixtures of th defunct Oregon Trust V Pavings Bank In Portland, which will make It one of th finest equipped banks In the state. The bank lobby will hav til floor, traarbl counter. tc. Th second story will b used for lawyers' offices and for th. quarters of a lar abstract coat pany. Th bank will conduct a safety deposit department, for which vaults will b constructed a part of th building. Th construction Is of reinforced concrete with pressed brick facing, and th. cornice and trimming win be of copper. The building will cost 114.000. south of Portland, has been postponed until Wednesday, June 14. Th. auction was set for last Thursday, but because of the sever, storm on that day It was thought best to put the sale over. A great deal of Interest has been aroused In the property and many peraons have visited the townsite during the last week. It Is In the center of a rich farming country and there is no other town at all near. SAX F1TAXCISCO GROWS ORNATE Lain p Post. on Kearny Street to Be Decorated Wltli Flower Boxes. A street decoration scheme that of fers a suggestion for Portland Is about to be tried on Kearny street. San Francisco. It Is proposed to have boxes suspended from the lampposts, the boxes to be filled with flowering and ornamental plants that are to be kept growing and carefully tended. Th. plan has been adopted by the lowntown Association, and Is calcu lated to give that portion of the city a distinctive appearance and lend a charm to the old thoroughfare that will be truly Californlan. It was on Kearny street that the cen ter of gaiety existed In the old days, and there much of the oriental and cosmopolitan life still exists. In old Portsmouth square Is the monument to Stevenson with Its re minder of his land of Bohemia. At th. northern end la the Latin Quarter, the North Beach, Fisherman's wharf, and the cosmopolitan life of all nations. At th. Junction with Market street are th. flower venders, with their baskets of colored flowers upon the sidewalks. And this addition to the ornamentation of t)f street will add to Its Individu ality and charm. This mode of ornamentation ia said to exist In th. European cities, particu larly In Vienna. There th. streets are said to hav. a particularly pleasing and gay appearance because of these hash ing flower boxes. ' $6000. The buyers are all experienced hotel men and they will improve the property. The City Council will be asked for permission to construct a roadway from the approach to the Burnslde bridge to a garage to be built on the west side of the hotel. The lease has seven years to run, with an option of renewal for 10 years. The rental is J650 a month. The Princess Hotel is one of the first reinforced con crete structures erected on the Jtast Side. f 5 Washington County Tract Sold. Alfred Nordgren and B. A. Berglund have bought the holdings of Dr. C. A. Macrum and J. W. Marsh, of this city. west of Forest Grove, in Washington County. The land consists of 440 acres, and will be subdivided into 40-acre tracts by the purchasers who will bring Scandinavian families from Eastern States to settle In Oregon. The sale was made by the Kahle Realty Com pany and the consideration was not announced. Tract East of City Sold. The Oregon Nut & Fruit Company has bought a tract comprising about 80 acres two miles east of the city limits on the Base Line road, from the Multnomah-Oregon Realty Company for $50,000. The tract haa already been platted under the name of Casmur. The purchasers will replat and sell. Miner Will Retire to Farm. H. E. Booth, of Merlin, Or., has bought the J. W. Hobbs place of 115 acres south of Dayton, Yamhill County, for 11,000. Mr. Booth Is a successful Southern Oregon mining man who has listened to the call of "back to the soil." With his family ha will retire to the farm next Fall. PRINCESS HOTEL LEASE SOLD NewSyndlcate Takes Hold and Will Improve Ernst Side Property. The leas, on the Princess Hotel, at East Third and East Burnslde streets. haa been sold by O. 0 L. E. and Edna Piatt to a syndicate composed of C. W. Mstthews. W. C C. Thompson. William McHardy and Joseph McHardy, for . -Modern Structure to Bo Built. . T. J. Setifert. who has bought th. Lane County Ranch Is Sold. Webster L. Kincald and Frank H. Greenman have sold to Albert Walker, of Klamath Falls, a 700-acrs tract of land In the hills west of Creswell. Lane County, for $12,000. Mr. Walker is a stock raiser and will engage in that business In Lane County. Land Trade Made at Lebanon. "ftE Wight has bought 20 acres of river bottom land near Lebanon from T. B. Hannah at 1200 an acre. Mr. Wight traded in one of his houses in Lebanon at $1500 and paid the balance In cash. Four-Story Structure Started on Hawthorne and East Sixth to Cost $50,000 Six-Story Con crete W1U Be Begun. A four-story brick or reinforced con crete hotel buHdlng is. proposed by! Strong Brothers to be built on the quar ter block at the northeast corner of East Morrison and East Sixth streets. At present the quarter block is cov ered with frame structures, which are occupied. The tenants have been or dered to vacate and by the first of the month are expected to be out of the frame buildings. Tentative plans have beon drawn for the building, but it has not been decided what material will be used. It will be one of the most important buildings projected so far this year for Central East Portland, outside of the home of the North Pacific Dental College and the six-story building for Jenning & Sons. The hotel building will probably cost between toO.OOO and $60,000. It Is conceded that a first class hotel is needed in Central East Portland. On the East Side a considerable num ber of business buildings are under con struction and projected. Excavations have been completed on the quarter block at the southwest corner of Haw thorne avenue and East Sixth streets. and work has been started on the con crete foundation of a four-story build ing, which will cost about $50,000, for Stanley, Boise & Smith; plans have been prepared for a modern brick fire house. to ' be erected on the corner of East Taylor and East Thirty-fourth streets, at a cost of $15,000; a two-story brick building, $0 by 70 feet, will b. built for the Benedictine Fathers on East Twelfth and Bismarck streets, to cost $15,000; six-story reinforced concrete building for Jenning & Sons, 200 by 240. to cost $70,000; plans are being pre pared for a three-story brick combina tion store and apartment building to be erected on Union avenue and East Davis street, to cost about $35,000; two story brick for G. A. Sollars, costing $15,000, to be built on Killlngsworth avenue, near Vancouver avenue, to cost $15,000, the building being 75 by 100 feet; electric building for the Portland, Railway, Light & Power Company, t be built on East Thirteenth street be-; tween Linn and Ochoco streets. In Sell wood, for $75,000; Morgan, Fleidner & Bryce, four-story concrete building,. Grand avenue and East Stark street,' $50,000. LEWIS FARMS ARE PROFITABLE Property Near Chehalls Changes Hands at Big Increases. CHEHALIS. Wash., May 20. (Special.) . Sales of smaller tracts from the large holdings continue in this section. Three, deals are reported from Adna, six miles west of Chehalls. Senator Flshback sold nine acres, which had previously been planted to young apple trees, to H. Sy verson for $4500. xMr. Syverson was for merly engaged in the mill business. A. C. Canterbury bought 40 acres from J. B. Blake for $3200. The latter paid $1500 for the same land a few months ago. Patrick.. Deno, of Walville, bought four acres near Adna at $200 an acre and will go into small" fruitgrowing and poultry- raising. George A. Smith, of Seattle, has bought the W. K. Miner farm, four miles southwest of Chehalls, for $38,000. The place comprises 400 acres of land, much of it swampy- which Is especially adapted for raising oats. In January, 1910, Mr. Miner bought the property from Sam Guy, the original owner, for $30,000, thus making a profit of $3000 in a year's time. Independence May Pave. INDEPENDENCE, Or., May 20. (Spe cial). At the next meeting of the City Council an ordinance will be passed to establish a permanent grade on the streets of Independence. This will b. the first step taken by the city for hard surface pavement. To get an ex pression of property owners on Main, Monmouth and C streets, a petition in dorsing hard surface pavement was cir culated and with one or two excep tions it was signed. The cost of pav ing the three streets ia estimated at $15,000. Section Line Tracts Are Platted. t tt fnmnfnn lias laid nut in lots the four-acre tract of Mrs. MarifMy ers on the Section Line road, near East Sixtieth street. It was divided into 24 lots. Mr. Comnton has laid off the two and one-half acre tract of C. E. Beach on the Section road, near East Sixtieth street. Into 22 lots. Both these additions are in the land which was filled In with material from the new Mount Tabor reservoir excavations. A collapsible berth that may be hang on the back of a car seat has boea in vented for the benefit of infants on long railroad Journey ATTRACTIVE STORE AND HOTEL STRUCTURE TO BE BUILT ON UPPER WASHINGTON. ifiiiii!iiEgKliHJ ANDREW GORDON BUILDING, WHICH WILL BE ERECTED AT WASHINGTON, MORRISON AND ELLA STBEETS. An attractive design haa been P repared by H. J. Hefty, architect, for t he store and hotef building to b erected by Andrew Gordon at th. Intersection of Washington. Morrison and Ella streets. The lot is of flat iron shape, and the architect haa taken full advantage of this in preparing the plans. The building will hav. a frontage of 100 feet on Washington street. 105 feet on Morrison and four feet on Ella, and the first floor will be divided Into five stores which will have attractive plate-glass fronts on both Washington and Morrison T he construction will be of reinforced concrete. There will be a large cen tral entrance on Washington street for the hotel, which will contain 26 rooms. All will be outside rooms, : and each will have an Individual bay window. Each room will have large closet space and hot and cold water. The cost will be about $40, 000, and th. building will be completed in about three months. at