Image provided by: University of Oregon Libraries; Eugene, OR
About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (June 2, 1912)
10 TTTE SUNDAY ORFfiOMAX. POT?TT,AND. JUXE 2, 1912. POUDBUSINESS GO TO S SOUND Commercial Growth Has Pro nounced Effect on Realty and Building Plans. DIQ DEALS ARE CLOSED Lot at Morrison and Eleventh Bella fop 1175,000 Property Owawi Opposed to Single Tax For tnlta Make Oood Showing-. Tha real aetata situation la Portland a- v. - . ..-.-.-aJ taa VVraiea TW ga la showlne an upward tendency. T ht reoords for May In all lines of business Indicate that tha oily U In a ml healthy condition and la making- splsn. did progrses, Iluildtng operations art brisk) tnsrs Is an unusually largo sup ply of money for Investment and mru gage loanei Induitrlal enterprise are making substantial advances, and the lumber Industry la again la a flourish ing eonditlnn. With a feeling of good time In the Ity and throughout tna stats and with bumper grain and fruit crops in pro, peot, there Is no good rsaann why grsat progress should not be mads In all Im portant lines of bualne thla year. There Is now everything In favor of ln vestment opportunities, with the pos sible exception of the single tag bug aboo. That such a revolutionary meas. tire will mt with a iroil dcllv d feat, there le little rlnubu Bmall prop, arty owner and faia.iia are almoat a ttnlt agalnat elngle tax. It la freely predicted that is per cent of the people will vote agalnet aingle tax. With this unjust and Impraotlcahls theory out of the way for all time, Oregon ean be ex- ? looted to forge ahead at a rapid rate n land development, puhllo improve ment project and Industrial enter prises. Realty trading In both down-town property and resldsnce property was ao tlv during the week. Ther were eev. oral good-sized deals closed In Inside parcel which Involve a total of nearly 11.000.000. One deal of $160,000 was computed, bnt detalle will not be an nounced until tM week. Two sales In volve over US. 000. One of the Important leal waa the transfer of the Lincoln Hotel property at the northeast corner of Eleventh and .Morrison streete. for 1175.000. The prop erty wae purchased by Portland and California Investor from Max and George Loeweneon. Tbe lot has a front age of 100 feet on Morrison street and to feet on Eleventh street. The prop erty Is under lease for about two yeara. At the termination of the lease, the new owners will remove the three-etory brick building and erect a modem structure, It I announced. Loeweneon brother bought ths lot nlns yeara ago from .the Llndalev estate for 191.000 and liter erected the three-etory brick building on the site. The sale wae ne gotiated by Ooldschmldt'e Agency. R. It, fltltner, a Portland attorney, has purchased from V. E. Bowman A Co, a beautiful realdenoe In trvlngtnn, the consideration being $10,000. The house oontalne 10 rnome, modern In all ita appointments and la ons of tha most attractive plaess In Irvlngton. The dwelling oeeuptee the quarter-block at the northwest earner of East Eigne teenth and Hlaklyou strsets. Tha sale was made through the agency of Oood- en uroa, Demand for suburban acreage traots baa been very aotve the past few weeks, Homeslte along the Mount Jtood line, Oregon City line and United Hallways are held at attractive prlees. Ons of the Isrge sales In acreage waa the transfer of the I'umell Jump prop erty at fcaet Fnrty-eeventh and Eaat nilean atreets to H. K. Clifford, of Baker, Or for a consideration understood to be 111,000, There are Ave acre In tha tract. Me, Clifford will have tha property subdivided and planed en the market In building lota, Everett A Hlmonda repressnted the principals In ths transaction. The record at the Building Inspector's office was satisfactory inaamueh as thsrs wsrs but tlve business days dur ing ths wsek, Ther were Issued 181 permits of a total valuation of 1M0, Ths large percent of parmlts was for medium-priced dwellings. The summary of the week's permits lg as follows! Permit. Valnstlen, 41 B"1,H M7 easasrs H 1l-'lT vinfjadar .... i Paturaajr .... 1.SS l oai S.wio Totals 131 l(t BvO C. K. HEXTIY TO RETIRE JULY t X c tor of rortlund Realty Pealera to L4va la Pasadena, G, If. Henry, fey nearly II yeara ac tively engaged In tha realty buelneaa In Portland, announced at tha meeting af the Portland Realty Board Friday that he would retire from buslnese July 1. Mr, Henry has long bsan Identified with the development of the city and haa to hi credit the promotion ef many Im portant building project. Tha Multnomah Hotel atands as ths thief achievement of his business ca reer. Other structure which were built through his Individual efforts ars the Imperial Hotel annss. ths Wilcox build ing, ths big structure of the John Deere Plow Company en the Esst Bide, tha Henry building, Mallory Hotel build in ir, two Ooeda buildings and several other substantial structures. In resi dence additions, Laurelhurst la the cit rons of his activities In that Held ef de velopment, Mr. Henry has purchased a beautlfal hnnn-stt at Pasadena, Cal., which he will Improve with a costly residence. After July 1 the 11 rm of C. K Henry A Company will cease to exist snd will be succeeded by Henry A William. (Icurge P. Henry, nephew of C, K, Mmry, and IX C. Wllllame, for several yesrs connected with Wakefield, fries A Company, will be members ef the new Arm. CORBETT STREET TO BI3 PAVED Improvement of Thoroughfare Will Ue Ilia; Aid to South Portland. Work will bs begun this Summer an the paving of Corbett street, from the new fill below Reymour street south te tbs bottom of the newly-built road ex tending to Fulton Park, a distance of about one mile. The paving will add another attraction to the Southport and Mouth Portland districts, through which It will extend. With the recent completion of about two miles of ce ment sidewalks and a mile of graded streets In Kouthport Addition, building activities wlli commence. The cun- contractor are on the final stretch of the work. Corbett street at present la psved aa far aouth aa Seymour street. It ia in terrupted ther by a bin fill acrosa a gulch which la nearlng completion, after about eight month of contlnuoua work. The nil has replaced the old bridge which formerly accommodated street traffic and streetcar. Tha pT lng extension will begin at the lower and of thla nil. Tbe Portland Railway. Light A- Power Company will probably extend doubla tracka orer the street before the paving la laid, to facilitate service on the Fulton line, which la the only line running to Fulton and tha Rlvcrvtaw Cemetery. PRELIMINARY WORK STARTED Retaining- Walla for Pittock Home Now Cnder Construction. A permit was laaued laat week for the construction of the retaining walla along the eaat brow of the hill above Kings Heighta where H. L. Pittock will erect a beautiful home. The wail will extend several feet north and south and will serve aa tha eaat Una of a wide boulevard leading from the house. Contractors are now at work In making thee Improvements. With tha announcement of tha con struction of this fine residence, great interest la being shown In tha develop ment plans of that district. A short distance to tha west Is Weatwood. the i JtTBV l.IUIUVU ,U IWlVOU WU M property la especially at- tracl,Y. or bomeaitee, as it has no eterp grades and la well protected. It I xpoctl that work will bs started soon In developing this property with all standard Improvements. The Kings Heights carllne runs through the cea ter of the tract. FINE BUILDING READY inro F1KM SPENDS $100,000 TS NEW QCARTEKS. Modern Eight-Story Structure of Woodard, Clarke Co. to Uoase Twenty-five Departments. Tbe eight-story Wood-Lark building, erected at the northeast corner of West Park and Alder streets for Woodard. Clarke A Co, wholesale and retail druggists, la now nearly completed and will be occupied exduaively by this firm about July It. The atructura la of modern reinforced concrete construc tion, fully fireproof and la considered one of the flneat building erected In the upper part of the retail district. The building oocuplea ground tOxlOO, with a frontage of (0 feet on Alder etreet and 100 feet on Weat Park street. The building, together with the site, represents aa Investment of over S300, 000. The entire building will be de voted to tbe use of the firm. There will be 2i departments In the new store. The Arm waa established by C. H. Woodard A Co.. July 1, IMS. In 117 C. II. Woodard formed a copartnership with Louis Q. Clarke. Later Mr. Wood and retired from the firm and W. F. Woodward, who entered the store as an employe In 111. became associated with Mr. Clarke. Under the Arm name of Woodard, Clarke A Co, these two men have sines conducted the business. "The Westward movement of the re tall sons can In no way be more clear ly evidenced than by the four succes sive locatlona of thla house." aald Mr. Woodward yesterday. "It was first at Front and Alder streets, when Portland waa a 'river town' and virtually ali traffic of consequence wss carried on by boat. Later, the etore was located In the Odd Fellows' Temple at First and Alder streets. For a number of years that point was the center of the retail sone. In 1535 the firm moved west to Fourth and Washington streets. This location was considered by many as too far out of the business district, but the retail area gradually expanded and now covers big territory several blocks towards the west. One year ago our Arm purchased the site at Weat Park and Alder streets, which wa consider an admirable location from every standpoint. Thla house waa tha first to carry dental, surgical and pbotographlo sup piles In the Northwest. It haa pioneer ed in a score of lines. The members of our Arm have always been Identified With the city's true growth, and In pur chasing the site and erecting our own building along modern lines, we have shown material evidence In our great est faith in Portland's future." RESIDENCE PROPERTY BOUGHT Several 6ale In Lots and Acreage Closed by Goddard WledrlckT Ooddard A Wledrlck laat week sold for C M. Dllley two lota at the south west corner of Grand avenue and Pres. cott etreet to C C Wllllame and George Henry for I2H&0. The property la va cant and will be held aa a speculation. Thla firm eold a lot on Kerby street, between Jeeeup and Simpson streets, to Charles Klouchek for C. B. 8anderstone, tha consideration being $4500. The lot Is Improved with a two-story frame residence. Mr. Sanderatone purchased through thla firm a tract of IT acres adjoining McMlnnvllle for 14150. The place 1 In cultivation and la Improved with food buildings. BIG FUTURE FORESEEN CENTRAL OREGOX TO BE GREAT PRODUCING DISTRICT. G. S. Beeson, of Large Irrigation Project, Optimist to Over Possibil ities of Deacbnteg Land. G. & Beeson, secretory and treasurer of the Central Oregon Irrigation Com pany, haa returned from Columbus, Ohio, where the bonds of tha company are owned. "Tbe possibilities of the land In Central Oregon, with the aid of Irri gation, are wonderful and every dol lar now being expended will be re turned tenfold In a few yeara If the present work Is continued. said Mr. Beeson. "When I first looked over the land, after considerable capital which I represent had been Invested In it. It was my Impression that It waa a worthless enterprise. It waa neceaaary for me to make a complete examination j and at Ita conclusion my first opinion was completely cnangeo. mis latser opinion Is now fully shared by my assoclatas and there will be ample money to complete tha' project even If It takes three tlmea what was orig inally expected. "It Is now certain that Central Ore gon will have all the rail connectlone to meet Its wanta and that these will grow with the development of the country. It takes railroads to develop such a country, as It will deal In large products and with the railroads will come people to assist. Few people can comprehend what Central Oregon will become as a producer for the world within a few years." VIEW Or y D D Market Gradually Reaching Big Proportions. NEW MILLS IN' OPERATION Prosperous Condition of Country Given Impetus to Industry For eign and Coastwise SbJppinf Makea Substantial Gains. Lumber shipments by both rail and water from the Columbia River district were excentlonall v large the paat month. Lumber manufacturers report that the market for their products is growing better gteadlly. with prospecta of reaching a most healthy condition during the Summer. ' Recent orders placed by the H a tri ms n system for car materials Include about 80,000,000 feet of lumber, to be mt, vwn mju k thai mill In Orearon and Washington. A large part of this ma terial will bo supplied by the Columbia River mills. In addition to this busi ness, the mlUs are making big ship ments to points in me ns k . V. . JlmmmwiA f nT lumhir ha reached substantial proportions. Coast wise and foreign shipping baa been in creasing gradually, with the result that shipments by water are nearly as Dig as at any time In the history of the Industry. California Is supplying a atrong market, and It le probable that more lumber will be shipped to points In that state this season than ever be fore. ...... Prosperous conditions In tbe Miodie West and on the Paclflo Coast, with et n,nin.cri fnr bumoor crops, are giving Impetus to building construc tion generally. Accordingly, nm . inmk,. aiwI bulldlne- materi el. trik and will nrobably keep up a healthy pace all year. During tbe past monin two Dig mine In the Columbia River district began Hnn. One waa tha nlant of the Weat Oregon Lumber Company at Llnnton. ana tne omcr wa un pi vt- the CoinmDia vaiiey Lamosr i.uuip.uj . . r..,n Tint t miiia have a daily capacity of about 100.000 feet. They are among the most mooern ana com plete mills now in operation in tne district. In the Graya Harbor dlatriot the lum ber ltuatlon Is reported exceedingly eatlsfactory. All tne miita mere ....i.. rtita of tha hla- Dlanta that baa been eloaed down for two yeara or more will reaume operauon is vw weeks. The mill Is owned by the Na- . i i t .. k v a Tin rAmmiiT. e rwi la IIUII.1 uu.vw. . ' one of the largest In that district. It is announced that about suw men wiu be employed steadily, providing a nn.thi. ruLvroll of 140.000. Tha mill Is located at Hoquiam. One of the largest lumper piame ia NEW BUILDING OF WOODARD. CLARKE & CO. im -T . i . .... . , 15 it' '": 31 SITK AD STBITTIRE BEPKKSK.NT9 IWKSTME.MT Eastern Oregon will be built st La Grande by the Mount Emily Timber Company. Tha company Is capitalised at 11,000.000, and Its stockholders are mostly Eastern capitalists. About (5.000 acres of timber land haa been pur chaaed In the Orand Honda Baaln by thla company, aggregating aeveral bill ion feet of saw timber. In the districts in the upper Wil lamette Valley and in Southern Ore gon loggers and lumbermen have been making extensive preparations for a steady business. Several new plants are to be Installed, one at Monro and one at the mouth of the Umpqua River. Reports from the Puget Sound dis trict Indicate a healthy movement In the lumber Industry. All the big mills are In operation, many of them running both day and night shifts. Lasateer Ceadltktaa Dlaeswaed. "There Is one feature of the lumber business of the Paclflo Coast that must be overcome In some way before It can be a real active competitor . for business In the Eastern market," said Dr. E. A. Lawbaugh at the Portland Tuesday, during a two days visit te this city from Chicago, where tbe main office of his company, Brayton Law baugh. lg located. Tha company haa branchea In all the large eltle of the country, the Portland office having been In Tbe Oregonlan building for the past 11 yeara "This one feature to be remedied Is a proB Labi disposition of the rough lumber that cannot be shipped any great distance to advantage. The mills of the Southern states have acquired from the railroads ratea that will per mit hem to flood tbe Eaat with their rough lumber and market It at a price aomewhat above the productive cost, with the real profit of tbe mills coming from the better elasa of lumber In dif ferent forma "Against such a condition the Paclflo Coaat mills cannot compete, and I do not believe that the Panama Canal will be of any assistance, aa the railroads will meet any differential that might exist. This may be considered a pes simists way of looking at the Paclflo Coast lumber Interest, of which my company haa large connectlone, but It Is a oondltloa that must be met In eoma way. "At the aunt time. It Is true that tbe price of all klnda of lumber In the East haa advanced and it la unlikely that It will ever get aa low again aa It baa been. The real valuable timbers now are tbe hard woods, because of the In creasing demand and the soar-city. Pop lar Is in the greatest demand at al most prohibitive prices, with oak and hickory following It closely. There Is some oak on the Paclflo Coast, but It will not either cut or finish like that grown In the Eaat. The hemlock of thle Coast, which Is entirely different from the sir-liar named wood of the East, will eventually become very val uable for all Interior finishings, espe cially flooring, but It will not stand ex posure. "Generally Speaking, the lumber mar ket of the country la better than It haa been for ssveral yeara and there is every reason to believe that it will con tinue, It the advanced prices do not re sult In an overproduction. This would pile up the rough lumber and force the better qualities to be thrown on the market to pay expenses. Fortunate is tl.e man who owns a tract of timber and can afford to, hold on to It for the next 10 years, or more, when the entire market conditions of the country may be changed." " I'. "SA t . . .-i wt-. . 1 ' : nun Mi -1 ;.:;' - ', V . j A OF $.-(00,000. DISTRICT GROWS UP Mount Hood Railway Big Aid to Development. COUNTRY SETTLING FAST Pleasant Home, In Heart of Powell Valley, Attracts Settlers aa Well as Investors From Portland and Elsewhere. A section ef tha state that Is mak ing big strides In development lies In the Powell Valley along tbe Mount Hood Railway. Since this road waa openad to traffic last year many large farms have been sub-divided Into small tracts suitable for suburban nomealtes, and have proved exceedingly attractive to small farmer and Investors. Between Oreabam and the Sandy River, the district Is making marked progress. The land lies almost level and la fertile, being particularly adapt ed to the growing of fruits and veg etables. Settlements are being estab lished at the various stations along the line. At Pleasant Roms activity baa bean pronounced. A fine depot haa been erected at that point and plana are under way for the establishment of several business houses. Many tracts, ranging from one to five acres, have been aold to persons who will Improve them and make their home there. All the land holding of the Mount Hood Railway were taken over a ehort time ago by a ayndlcate of Portland In vestors organised by Vmbdenatock A Larson and will be developed and placed on the market. Tbe flrat de velopment conducted by thla company la at Pleasant Home. Virtually all tbe property there haa been aold. the ma jority of buyers being actual settler. Other parcels will be opened up and placed on the market this Summer. "It Is expected that the line will be electrified soon and when this Is done the district will be given rapid ear service Into tbe heart- of Portland." aald J. Fred Laraon yeaterday. "With Improved transportation facilities the district along the Mount Hood line will undoubtedly make great etrldea. It will not be many months before the entire territory along this line between Portland and the. Sandy River la set tled up, as It Is one of the most at tractive and fertile districts near tbe city." Chicago Teacher Bays Acreage. J. O. Elrod haa aold a HH-acre tract In Webster Acres, between Clackamas and Gladstone, to Miss Wheeler, a re tired Chicago school teacher, and tier brother, the consideration being t60. The place will be Improved and will be occupied by Miss Wheeler and her brother aa their permanent home. The eale was negotiated by J. W. Crossley. v. ECONOMISTS HOLD SINGLE TAX UNJUST Leading Authorities Denounce Henry George Theory as Confiscatory and Illegal. PROPOSED SYSTEM FARCE Oregon Voters and Taxpayer Are Urged to Study Taxation Prob- lema for Best Interests of Themselves and State. IT CHAA H. SHrELDS. There la no question tbe people are so much Interested In as that of tax ation. Every cltlxen who pays taxes haa a burning deelre to know what become a of hta money. He haa reaaona to believe that bla taea are too high, lie tmaglnee that be la paying more than his share. This all arises from the fact that paying taxes is apparent ly Ilka paying for a dead horse. A certain amount of money must bs taken from each Individual who haa property, and there la an Inclination to question the authorltlee aa to the expenditure of the state or county revenues. It is perfectly natural there for for thoa who pay the taxee to be willing to listen with Interest to any method of taxation that Is offered aa a tax reform, or as a system that will In any way offer relief. From time Immemorial , there baa been no aubject of more Importance and which haa cauaed more dlacuaaion than that of taxation, or any means of raising revenue for the local state or National Government. The Gov ernment must be aupported. Tha peo ple of necessity nut contribute to thla aupport. The moat equitable and honest mtthod of apportioning these contri butions Is what all honest men should strive for. In considering questions of this character we should consult the judgment of men who have made a life etudy of economic questions. If you were going to build a 10-story building you would employ an archi tect to design It for you and superin tend its construction. If you were go ing to build an electric railway, you would employ an electrical engineer a man who had given thla particular line yeara of study. If you wers going to build a great aea-goln veasel you would employ the best shipbuilder. Thus you might continue on tha various speclsl lines and In each case yon would either employ or consult men who had made a specialty of the particular line In which you were In tereated. It la therefore Just aa necea aary when contemplating a change In your ayatem of taxation, your system of raising revenues, to consult men who have made a specialty of econ- omlca and who are prepared to give an- unbiased opinion upon questions of taxation, and revenue. Taaatloa Problem Big. This la a day and tit of specialties. Wa have experts for nearly every line. and buslnesa men rely very largely upon the Judgment of men who have made a specialty of their particular lines. In my opinion, every Individual, every voter In the State of Oregon, Is desirous of casting his ballot tor tha best Interssts of the state. I reason that each Individual la go ing to do the best for hlmaelf that he can. In doing so he will do ths best for the state. This, of course. Is putting It In a broad aense. I do not believe there Is a voter In the state that would knowingly Inflict an Injury upon the community by voting wrongly. Finale tax la a question but little understood at this time. More light on the subject of taxation Is earnestly desired by the greet majority of ths people. The single Ut theories of Hen ry Oeorge necessarily constitute the spirit of any single tax system. Hence without the Henry Oeorge theorlee the single tsx proposals would be like the plsy of "Hamlet" with Hsmlet left out. Tbe local aingle tax proposals In sev eral ef tha countiee of Oregon la tha Oeorglan system of single tax. Therefore the following testimony of flrst-clssa economic authorities with reference to the Henry Oeorge single tax theories Is strictly pertinent. The basic principle of the Henry Oeorge theory Is to confiscate compensation. It should be remembered that Henry Oeorge believee that private property In land la unjust thst land Is a gift of the Creator of all Indlvlduale. There fore private property In land la Incon alatent with the divine gift and that It would be equally wrong to purchase or oompenaata the preaent owners of land. He holds they got It wrongfully and therrfore confiscation Is Justifiable. In order to restore land to Its right ful ownara eoclety be propoae to tax all landowners out of existence. His own language Is used. (See his "Progress and Poverty," chapter , book t. I offer a few ef tbe oothorltle on a tlon. sepaclally me a of National and Inter national reputation on questions of politi cal e-wir- . . Pay Franrla Walker In "Land and Its Kent:" "Henry Oeorge Is convicted of the grossest Incompetence for eoo nomlo reasoning." Francla Walker wa professor of political economy In Har vard and Johns Hopkins I'nlverslt'ee. A careful perusal of Henry Oeorge's book. "Progress and Poverty." will fur nish sufficient evidence to confirm the Juds-ment of Frsncls Walker. Richard T. Ely, profeasor of political economy In the University of Wiscon sin, in bis "Political Economy." ssys: "In my opinion Henry Oeorge's pro posal will never appeal to the con science of the American publlo as a Just thing." Dtsbeaeef Feererr Bfcevnt. While we may not all be political economist and may not have given any etudy to economic questions, thers Is on thing certain every honest man la the Ptat of Oregon knows thst It Is dishonest to place all the taxes upon land, permitting all other forms of wealth to escape taxation, when the reault of the tax on land will be to de atroy tbe selling value, thereby prac tically robbing the individual of Jits earnings, which ere represented In the selling value of his land. Buch Is sin gle tax. Arthur T. Hadley, president of Tale TUALATIN VALLEY ACREAGE Splendidly located near Portland, on United Railways; fast trains, week-end rate, coiaiLntation tickets. Near town of North Dains. Electric light, purs water, improved streets, modern buildings. Ideal location for FiUITFAEMS DAIRY FARMS BERRY FARMS POULTRY FARMS ENCOURAGEMENT GIVEN SMALL INDUSTRIES For literature write or call at office of RUTH TRUST COMPANY Mala 5076, or A 3771 University, In his "Economics," ssys "Oeorge's theory. If adopted, would bi unjust, confiscatory and Illegal." Frederick Harrison. a profouno thinker upon social and economic sub Jects. says In his "National and ftocla Problems:" "Oeorge's scheme woulu be monstrously unjust." Professor Seager, of Columbia rm veralty. In hla "Introduction to Ecn nomlca." saya: "Henry Oeorge failed to establish what Is vital to his whol contentlon. Ills contention is dlrectl) contrary to the facta." J. Laurence Laughlln. -professor of political economy In the University of Chicago, saya: "Ooorge's propoaala arc a treasure trove for a atudent of lou Ical fallacies in economics." (See Latighlln's "Latter Day Problems"). Henry Holt, a distinguished member of the American Political Science As sociation, says In "On the Civic Rela tions": "The very principle of sound tsxatlon Is that the taxes ahall be paid by the property which produces the where withal to pay them." Thla, I consider, a very Important declaration and one on whloh great stress should be placed, as It lays 4lie foundation for a Juet and eqtiltabl taxation and one which Is directly In opposition to the theory of single tsx Hlugle tax permits Innumerable pro ducers of the wherewith to pay taxes, to eacape taxation, and placea the bur den on but one that of land. Charles B. fcpahr. In a masterly arti cle. In volume C of the "Political Sci ence Quarterly," characterises Henry Oeorge's theory as absurd. In view of the testimony given by the men ahove referred to. together with our own experiences and analyses of the slngls-tax problem. It should not be a hard matter to arrive at an Intelligent conclusion on thla elngl-ta question. When viewed from a logical point of view, there can be no question aa to ths Illegality of repudiating private contracts, which single tax mesne. When viewed from a point of equity, there could be but one conclualon that It Is unjust and Inconsistent and not a aquar deal. PRECAUTION IS URGED ADVICE GIVEX TO SMALL BUY ERS OF REAL ESTATE. Care Should Bo Taken Not to As sume Big Mortgages, Declare Cleveland Realty Expert. In purchasing real estate, small buy ers should exercise precaution In as suming mortgagee, ia the advice given by K. P. Stoddard, a real estate expert of Cleveland, O. In dlsousslng the sub ject Mr. Stoddard says: Unloss you nave ntner resources, o not buy property with too large a mort gage on It. You think that you will be able to pay off the mortgage when It become due. but mortgages have a way of coming due very quickly, and when the time comes around Instead of hav ing the money to pay off the mortgage you are very apt to find that you want evep a larger one. If you are satisfied not to borrow more than one-half or two-thirds of the value of the property, there Is a good chance that you can get the aame amount asntn from some other lender when the present mort gage becomea due. If the present holder Is not willing to renew. "When a man soils property he will take a large mortgage on It. because he knows all about It and Is willing to tske the chances of your being able to meet your obligations when the mort gage becomea due. You will And, how ever, that another lender will not take so favorable a view of the asms prop erty, and will be unwilling to lend you. at best, more than two-thirds of the value of the property. Many people have lost their homes at foreclosure be cause they purchased real estate when they had little ready money and took the property with too large a mortgage on It. "Where you are buying property enh Ject to a second mortgage, bs very care, ful that It contains a clause that if it la necessary to replace the first mort gage that the holder of the second niortgsge will consent that the new first mortgage be placed ahead of tils. Otherwise you will be In the position of paying off the flrat and allowing th aecond thereby to become a first. Thla will make ll Impossible to put on an other mortgage unle It, In turn, be comes a second mortgage, and ascend mortgsges are very hard things to get snd very expensive, unless they are put on the property by the seller at the time that the property Is changing hands. "If you are buying property that la occupied by tenanta, make cure as to how long their leases run and the real rent they are paving. There Is ne wsy so good to get these facts as to ge to the tenants personally and ask thsm these questions. The whole matter of leases Is very technical and there are very often misunderstandings by which tensnts can cause the new owner a great deal of trouble. This is particu larly true where land Is being bought for the purpose of erecting a new build. Ing and the old tenants must be dls. nosed of before the building oan be torn down. "This advice seems hardly necessary In these days, when ths title companies are advertising everywhere the dangers that come from possible defects In ti tle. A good lawyer, who la familiar with tltl examination, can search your title for you, but ther are not as many lawyer who are thoroughly familiar with the real estate practice as ther were In the dsys before the title com panies practically monopolised this kind of business. "If there are reasons why you want to use your own lawyer Instead of a title rompany. Insist thst hs secures for you the policy of title Insurance. Most lawyers take ths precsullon nowsdays to protect their clients hv getting poli cies of tltl Insursnce. There ere msnv trouble which cannot be discovered by any title examination. The title com panies do not pretend o discover thes troubles. They search titles ss well as tliey can. and then tsk r.n their own shoulders th responslhllty for th un known risks." City Bays Bulck. Among the buyers of Bulck ears out of the Portland branch of the Howard Automobile Company during the past week, were F. A, Sllvemall, of thlt city. James HU-ks. of Hums, snd ?yis Nllaon, of Klntsksnle. TILE For Floors, Hath rooms. Mantels, Kitchen ' ami All I'urpoaes. LARGE AND COMPLKTB STOCK. KHKI1 . WAUMSH. Mala H330. JUU Stark. 235 Stark Street, Portland, Oregon. s