THE SUNDAY OREGON! A.N. PORTLAND, JULY 7, 1912.
8
PORTLAND DRAWS
OUTSIDE CAPITAL
Eastern Syndicate Preparing
to Make Extensive In
vestments Here.
REALTY MARKET IS SOUND
Activity During Week Confined to
Residence Property and Build
ing Sites Much Ji'ew Con
struction Authorized.
While no big transfers in downtown
property were closed during: the past
week, there were several sales of small
parcels on both the West Side and East
Side. Brokers report, however, that
there Is considerable Inquiry for close
in property, many of the prospective
purchasers being- from other parts of
the country.
It was reported yesterday that a New
Tork syndicate is contemplating' heavy
investments in Portland this year. A
representative of the Eastern capital
ists has been in the city the past two
weeks for the purpose of making a
report on conditions here. Among
other prospective investors who have
been in the city the past week are cap
italists from San Francisco and Se
attle. The great records that Portland
lias been making in all important lines
of business have been attracting the
attention of the entire country, and It
would not be surprising to ' witness
a. big Influx of substantial people and
Investors to the city during the next
six months.
Two sales in Central East Portland
aggregating 139.000 were made . last
week. Llpman, Wolfe & Company pur
chased the quarter block at the north
west corner of East Sixth and East
Ash streets from C. O. Hosford for
$19,000. The new owners will erect a
two-story brick building at once cost
ing 125.000, which will be used as the
firm's East Side distributing plant. The
basement and lower floor will be used
for sorting and automobile storage
.purposes, and the upper story will be
used entirely for storage purposes.
' Bnlldlntr Site Purchased.
'i William Frailer has sold his home
.!and quarter block at the southeast cor
Iner of East Seventh and East Oak
' streets to the Imojane Company for
"$20,000. The property Includes an old
: residence, which Mr. Fraxler has oc-
cupled for many years. It Is not an
nounced what disposition will be made
;of this quarter block, but it will prob
;ably be used as the site for an apart
"ment.house. The value of Central East Portland
"property is approaching a figure pro
hibitive for residence purposes. Resi
dences are slowly being crowded fur
ther back from the river.
In residence property there is con
siderable activity, several sales hav
ling been closed last week. Subdivision
"agencies report a good business in
building sites. The movement is espe
cially notable in Irvlngton, Alameda
Park. Beaumont. Hose City Park,
Laurelhurst. Ladd's Addition, East-'-moreland
Westover Terraces, Arling
ton Heights and King's Heights.
; The residence sections of the Pen
: Insula district are making steady prog
ress. Many attractive homes In that
'.part of the city are under way. Con
siderable street improvement will be
"done there during the next six months.
When this work Is completed a healthy
bulldlng activity, It is expected, will
; follow.
J . Bnlldlnsra Operations Brisk.
! Portland contiues to make a fine
Showing in building operations. In ad.
dition to the hundreds of dwellings
-that are rising in all parts of the city,
"jthere is a considerable movement in
the business and warehouse districts.
;Immediate construction In the down
iltonrn section will aggregate an ex
penditure of S5.000.000. There are at
.;ieast half a dozen fireproof warehouses
Sunder way and projected which will
'Teach a total cost of $250,000.
Z There were issued during the week
-140 permits of a total valuation of
"$191,025. With only five business days,
this is considered an excellent show-'-lng.
The majority of permits were for
dwelllns. The week's summary is as
follows: '
J , Permits. Valu.
-Monday 3 4S.195
.Tuesday
Wednesday
Friday
Saturday
30 24.9O0
:1 BO.2.,0
2 m.oso
10 10.000
;. Totals
101 S101.O25
: FORTUNES 3IADE IX REALTY
World's Richest Families Amassed
..' . Wealth by Land Ownership.
The greatest fortunes in the world
''have been amassed through real estate
. investments, according to an Eastern
exchange. The great estate of the
'Astor family was accumulated entirely
;through real estate investments.
S. S. Thorpe, recent president of the
'Natlonal Association of Real Estate
:Exchanges, has made millions' of dol
lars through shrewd real estate in
vvestments. ' . W. W. Hannan, formerly ' president
'Of the Xational Association of Real
: Estate Exchanges, has accumulated a
fortune of many millions, made whol
'ly through real estate investments.
J. P. Day, the heaviest real estate
'dealer in New York City, it is said,
'.has an income of more than a hun
Idred thousand dollars a yer received
.wholly through real estate Invest
ments, sales and commissions.
; j, S. Cruse, president of the Indian
apolis Real Estate Board, has made
several million dollars through sound
real estate Investments.
A. H. Wetton of the firm of Rounds
& Wetton, of Chicago, it Is said, has
'made several million dollars from Chi
cago real estate Investments.
'n In every city in the United States
will be found instances where tremen
dous fortunes have been accumulated
through real estate Investments.
.; - There is not a 'city in .America so
'dormant 'or dead that real "estate has
not advanced In some portions of It to
' phenomenal extent.
: Most of Philadelphia's successful
business men are large realty owners.
In fact, the bulk of the fortune left by
.the late William Welghtmnn was In
vested in real estate, his holdings to
taling more than $60,000,000. Much of
his realty was central, although he had
large interests in about every growing
neighborhood In the city at the time of
his death.
As a matter of fact, practically all of
Philadelphia's successful business men
Invest heavily in good real estate when
the opportunity offers. The reason for
this Is two-fold. In the first place,
as has been said before, good real es
tate is an absolutely secure Invest
ment, and, secondly. It forms an ex
cellent means for raising money on
mortgage at a low rate, for use in a
mercantile business, where a' profit
many times the rate of interest paid
on the mor tgage Is possible. The rate
for mortgage loans is about 5 4-10 per
cent, while merchandise profits are in
many cases nearly five times as jnuch.
IMPROVEMENT WORK PCSHED
Westover Terraces to Be Exclusive
. Residence District.
The projectors of Westover Terraces
have planned and are already installing
Improvements on thai property wnicn
are said to equal, if tney do not surpass,
those which grace any residence com
munity in Portland. These Include the
finest grade of hard-surface paving, the
most substantial concrete -siaewaiKs.
such concrete retaining walls as ar
found, necessary to sarry out the gen
eral scheme of layout and contour,
urbs. sewer, gas. water and electric
systems and street lights of very ar
tlstlc design.
In the improvement of Westover Ter
races along such elaborate lines, me
owners have been mindful of the de
slrabllHv of the place for home build
lnir purposes. Their sole object has
been and is to present to the well-to-do
people of the Northwest a neighborhood
that is exclusive in as many ways as
possible. Toward this end. -no pains
have been spared in the matter of im
provements. Neither has expense seemed
to have had any measuraDie innuence,
for the best work of every kind is be
ing, demanded. Tet a moderate price
has been set upon each ouuaing sue.
The word improvement when applied
to Westover Terraces means much more
than it does, ordinarily, for there is the
tremendous cost of sluicing down the
hill, to be considered. To make a site
ready for a house in westover -.terraces
involves more work, more ex
pense and more scientific handling than
any other piece of property ever placed
upon the Portland realty market. In
tended solely ior nome-ouiiaingj pur
poses. .
TAX MEASURE IS RUSE
ADOPTION . OF HENRY GEORGE
DOCTRINE ULTIMATE AIM.
C. H. Shields, of Oregon Equal Tax-
atlon League, Declares There la
"Nigger" fn U'Ren Woodpile.
That the graduated single tax meas
ure, to be voted upon next November,
Is a ruse to . fool the people and if
adopted it would, mean the establish
ment of single tsrx pure and simple in
Oregon is declared by Charles H.
Shields, secretary of the Oregon Equal
Taxation League. In referring to the
subject yesterday, Mr. Shields said:
"Single tax is not and was not in
tended as a system of taxation. It is
not and was not intended as a tax
reform. It is and was so Intended as
a means to an end, and that end it
the destruction of private property in
land.
"That is why single tax advocates are
willing and anxious to allow all other
forms of value to escape paying any
portion of the operating expenses of
our Government. By so doing.' the
burden of taxation will fall so heavily
UDOn the land values that it will grad
ually reduoe the values; and as the
values decline, the rate of taxation
will increase. A greater demand will
be put upon the land by reason of the
fact .that only 30 per cent, of the voting
population would be landholders, while
70 per cent who pay no taxes would
be the majority, thus placing all kinds
of obligations upon the Government,
knowing that' the tax would fall upon
the- 30 per cent of. the people, or the
land.
"Consequently, the end must and
would be that the potential rent would
ultimately be taken by the state in
form of taxes; and when this would be
done, there would be no commercial
value in the land. Private property in
land, therefore, would have been de
stroyed, the owner holding the shell
only. '
"The graduated single tax measure is
only a ruse to fool the people. It is
single tax pure and simple. It relieves
all forms of wealth except that of land.
Read It over carefully and you will
then understand, you will then see the
'nigger in ITRen's woodpile." "
PROGRESS MADE BY RAILROAD
Development of Shipping Facilities
on East Side Gains Headway.
Progress is being made on the
freight depot -and provisions for track
age on the East Side waterfront. Early
In the Fall the O.rW. R. & N. will be
in a position to receive and handle
freight from the East Side freight sta
tion and the long and expensive haul
to and from the West Side will be
eliminated.
Work on the concrete building near
East Oak and East First streets has
reached the second story and the struc
ture will soon be finished. The steel
framed shed Just north of the concrete
building is nearlng completion. The
filled portion north of the freight
depot will he occupied with a network
of tracks. '
The railway company Is filling along
the east side of the embankment on
East First street between East Flan
ders and East Burnside streets in order
to make room for two or more tracks
to connect with the trackage in the
freight district. Material for this em
bankment is being excavated from the
high bluff south of the approach to the
new railroad bridge. This excavating
will widen the curve Just south of the
bridge to enable the trains from the
main line- of the Southern Pacifio to
reach the bridge. A depth of 20 feet
will be cut into the bank.
HEATING PLANT CONTRACT LET
New Building for Reed College to
Be Ready In September.
Work on the heating plant for the
Reed College buildings will be begun
immediately, contract having been let
Friday. The building will be located
in the ravine on the north boundary
of the campus. The plant will be con
nected with the dormitory and arts
building, by tunnel, as will all build
ings to be erected in the future. It
will be built on the unit system, ad
ditions being made as the . growth of
the college requires. The plant is to
be ready when the buildings now un
der construction are completed early
in September. Rapid progress is being
made on the dormitory and arts build
ing. Plastering is now going on and
the Inside finishing will be begun In
the near future.
A feature of the outside decoration
on the arts building will be the carving-
of seals of various colleges on the
stone work underneath the bay win
dows. The seals of Harvard, Tale,
Brown and Princeton Universities will
adorn the stone work over the main
entrance. Fifty-two colleges in all will
be represented.
Approximately 150 applications have
been received for entrance to Reed
College for the Fall semester.. In addi
tion to a large number of applications
from cities and towns of Washington,
Idaho and California, many of the New
England States and Middle States are
represented in the list. Applications
for entrance to advanced standing have
been received from the Universities oi
Washington, Oregon, California, Ore
gon Agricultural College, Ellensburg
Normal School, University of Colorado,
Bowdoin College, Willamette Univer
sity and Mount Holyoke College.
- ; -. A . . ' . .
TYPES OF
'fmi tan is Mjm
VV -, ---r. I
Among the Attractive Homes Everted la
ape, and Henry Copenhagen, at Eut Thlrtletn and mason streets, .nr. ... " o...- ---
of the UIU Overlooking the District nnd City. It Is One of the Most Beautiful Homes Built In This Part of the
City. The Home of Mr. Copenhagen Is Also Attractive. The Houses Were Erected at a Cost of About 810,000 Each.
1 Many Residences of This Class Are Being Built In This Pnrt of the East Side. -
HOME-BUYING BRISK
Many Residence Sales Closed
on East Side.
NEW ADDITIONS ATTRACT
Activity In Irvlngton, Alameda Park,
Mount Tabor and Other Districts
Is Notable New Arrivals to
City Purchase Dwellings. .
There has been considerable activity
In residential property the past two
weeks. Among the transfers made was
the purchase by H. P. Palmer, -of H.
P. Palmer-Jones Company, a quarter
block at the southeast corner of East
Twenty-fourth and Hancock streets
from B. M. Lombard for 112,000. .The
site is improved with a modern nine-
room house of the Colonial type.
A quarter block at the northeast cor
ner of East Sixth and Holman streets.
Improved with a modern house and
garage, was purchased by Charles An
derson for $5000. A two-story nine
room home and lot on East Twenty
sixth street, between Thompson and
Braaee, was sold to Mrs. Ada L.
Hertsche by C M. Zadow for $ 6000. The
property was bought for a home and
the new owner has taken possession. K.
C. Lee bought four lots in Spanton's
Addition, near the Southern , racinc
carshops. In the South East Side, from
E. A. McGrath for iikuo. air. Lee h
having plans drawn : for several cot
tages which he will erect for ren.tal
purposes.
a. L. Tevis has purchased from W.
J. Hofmann residence property at the
northwest corner of East Twenty-seventh
and Hancock streets for $18,600.
The quarter-block is Improved with a
modern 10-room house tnat was com
pleted a few months ago.
W. J. Furnish, formerly of Pendle
ton, has sold two lots on Holgate.and
Mllwaukle streets to A. J. Reinhardt
for $2500. This corner is fitted for
business purposes, and the- new owner
proposes to build a combination build
ing for a store and flat. A lot on
East Thirteenth and Skidmore streets,
improved with a Bmall cottage, was
sold by T. C. Russell to D. C. Krieger
for $1050. Dr. J. S. Wiggins has pur
chased a lot on Weidler street, near
East Thirty-first for $2500.
The Adams Contracting company nas
sold four residences recently. One of
the places sold is a lot on East Thir
tieth and Klickitat streets, in Irving
wood Addition, occupied by a modern
house of 10 rooms, which was ; bought
by J. Fisher, of Hood River, for $7000.
A one-story residence on East Thirtieth
and Klickitat streets, was sold to. W.-.
Allen, of Lyle, Wash., lor iuuo. - a
resident of Estacada has, purchased a
two-storv modern home ;on East
Thirty-third and East Gllsan streets
for $8500. -
John F.'Toft has purchased a lot
SOxlOO feet on East Twenty-sixth
street, between Thompson and Brazee
streets. Improved with a modern home,
from Grace E. Sears for $8500. The
property was bought for a. home and
Immediate possession was given. Fred
erick Robblns has purchased from Mrs.
Adda R. Kelly in Mount Tabor Villa
Annex 'two lots at a total cost- or
$6000. Both are finely located for resi
dence property. - - .
Susan E. Schaeffer has sold to urace
S. Eba a house and lot in Rose City
Park for $4000. Herman Gantenbein
NEW HOMES BUILT IN ALAMEDA PARK.
Alameda Park Are Those of A. E. Porter, at Resents Drive and L Ave-
Was cnU a rtin rt ft-M OP.fc In ' MaefiflV
Highland to Everetta Ethal Obrist for
$6000. - R. P. Larklns has purchased
the home or Artnur . xi. juarmns iu
Overlook for $6000. . .
PENINSULA GETS - NEW PLANT
Universal Wrench Company Builds
. Factory Costing $C5, 000.
The Universal Wrench Company has
purchased ' from, the ' Brong-Manary
Company a parcel of land containing
20,000 square feet, located between
Williams and Rodney avenues, adjoin
ing the right-of-way of the O.-W. R.
& N. on the Peninsula. The property
will be used as the site for a factory
where the company will manufacture
wrenches and other tools.
,The company has already started the
erection of -the factory, a two-story
brick and concrete building, 50 by 105
feet. It will be completed and occu
pied by September. The plant will
employ between 60 and 100 men. With
the site and building and equipment,
the Investment will .represent about
$25,000. '' '
There has been considerable demand
for homesites in the El.Tovar.and
Loveleigh Additions the past ' few
weeks and many sales have been made.
Ada L. Evans bought three lots in
El Tovar, on which she expects to
erect a home. Margaret Templeton pur
chased a lot in El Tovar, which, with
what she already owned in the addi
tion, will .'make a building site, for
her new home in the near future. C
E. Oliver bought a lot in El Tovar
and io making preparations to erect
a $3000 home.
Katherine Gehrett, of Goldfleld, Nev.,
has bought a lot In this addition as
an investment. E. V. Plaice has pur
chased a lot on Rodney avenue and
will erect a home this Fall. A. V. Price
and C. E. Wolcott, of Nebraska, have
purchased, twe-. lots in El Tovar on
Bryant street, near Union avenue, and
will put up a two-story frame build
ing in the near future. Both Love
leigh and El Tovar have been nearly
sold out, . only a few lots remaining
in the hands of the company.
' - liot to Be Condemned. .
Condemnation proceedings have been
..j int K In mock . 26.
BlItKCU agBIIWl - '
Willamette, as a result of the demands
of virtually all the property owners
along- Willamette boulevard. This
property extends . Into the street at
Dead Man's curve, on top of the bluff
lust south of Mock's Bottom. It Is
include this
property in the right-of-way to assure
safety for the traveling puuw.-.
boulevard will be paved for a distance
. . frnnn aa - wiAti the street is
improved, it wlll.be one of the most
scenic driveways along ine mcr n-u,
in addition, it win provide a.
nutlet for- about 20.000 residents on
the Peninsula. .:
"v .-' Railroad Slakes Fill.
The O.-W, R. & N. is filling on the
east-side of East First street, between
E-... pi.n.r, onrl - TCn.st -Burnside
streets, wide enough for two tracks
to connect, with tne new ireigoi uu
pot and grounds. Material for this
an 1 1 , ..Irnn f,nm ttlA hlllfT 1llRt
south of the new. railroad bridge. The
excavations rrom me diuh win peram
. A.,.rA .loan Annufh-- to ' SWinf? the
Southern Paclflc tracks on to tho rail
way bridge from the south.
" . Comfort Station for. Park. -
. -. . .
a ..i,itaflt t v T.n.wrnce has nreDared
plans for a comfort station, 80x20 feet.
to be btlllt in js-eniiwortu rain. ii
will have, a flat roof for a promenade.
t. Mui v... .,, otnrv nf reinforced con
crete" and faced with pressed brick.
The building win oe erecieu.ua mo
.u. lii, vlll- hive entrances both
from the streets in front and from the
rear. The top will be reacnea Dy steps.
: ..'J.:: '' - - ' : :, ,
LINE TO SANDY ASSURED
ELECTRIC ROAD TO TAP RICH
FARMING DISTRiqi.
Rights-of-Way Secnred and Part of
Money for Financing Project
Has Been Guaranteed.
Construction of a line between Cot
trell and Sandy, a distance of six miles,
by the Multnomah & Eastern Railway
Company, will open up a large district
of logged-off land, besides a well set
tled section. Assurances are given that
the track will be laid and the line will
be in operation by the first' of the
year.
Through the efforts of the Sandy
Commercial Club, the sum of $5000 has
been raised as a subsidy for the rail
way company to .establish a depot In
Sandy, and the money has been depos
ited in. a bank. Rights-of-way have
been secured through the farms, so
that there is nothing In the way of
the construction of the track. Local
sawmills have agreed to furnish ties
and bridge timbers.
Sandy has between 300 and 400 peo
ple, and is surrounded by a prosper
ous country. At present the people
go by stage to Portland by way of
Boring, which Is seven miles distant.
In early days the sawmills cut off
the timber for railroad ties, which
were shipped by way of Troutdale all
over the country. There now remains
thousands of acres of logged-off land,
said to be very fertile, which will be
thrown open to development on com
pletion and operation of this connect
ing railway. It has been found that
the territory is adapted to fruit grow
ing, dairying and general farming. At
Sandy a creamery is projected to take
care of the dairy Interests.
Clubs have been organized at Fir
wood, three miles east of Sandy, and
at Cherryville, a settlement on the
Mount Hood automobile road, 10 miles
beyond Sandy, which have committees
out assisting in securing rights-of-way
for extending this railway in the di
rection of Mount Hood, Surveyors have
been in the field beyond Sandy, run
ning lines. However, it is said that
no definite route has been decided on.
The people beyond Sandy are anxious
for railway connection with Portland,
and are doing all they can to aid the
promoters of the line. '
Fine Residences Under Way.
w Priest, builder and con
tractor. Is erecting a residence for Dr.
Sherman B. Wright in Irvlngton, on
East Nineteenth. Detween oianion ana
. r . . n tnet CKOflO Mr. Prlcnt
jvnuiL biiccio,
also has started building a home for
C . B. Walker on tasi oixty-eignm.
near Belmont street. Mount Tabor, to
. ,caa huh will tta nomnlAtp.d
coat ouvv, ....... '
by August 1. He is erecting a home
for H. R. Spencer, oi me romana b tour
iVl HI VUlf BUJ, W "
near East Twenty-seventh, which will
cost $5000. Mr. rnest u Duuains a
homo for Walter Davis on East Forty
second street, in Rossmere, which will
cost $3000.
Flat Building to Rise.
Di.n. iova been prepared for a two-
story flat building to be built for G.
W Taylor at , jsan ainttnui . u
Thompson streets. The building will
i- . .rAiAnl.l rioalorn And will be
equipped with hardwood floors, fire
places. Sleeping purunco
em - conveniences. The building will
hnnt SB500. The plans were drawn
by Roberts & Roberts.
CITY IMPROVEMENT
TO COST $1,500,000
Contracts for Streets, Side
walks and Laying of Sewers
Are Immense.
KENTON CONTRACTS LARGE
Between $500,0-00 and $600,000
Will Be Spent In Peninsula Sec
tion Sellwood Projects Reach
an Enormous Aggregate.
It Is estimated. that street improve
ments costing above $1,500,000 are un
der contract and In progress at the
present time In the different sections
of the East Side, besides those pro
jected. Many streets are being ex
tended and opened as settlement ex
tends into the residence sections and
more highways are needed. The Im
provement of Sandy boulevard between
East Twenty-eighth and East Seventy
second streets is the most extensive as
well as expensive of all the streets
now being Improved. It first cost $41,
000 to get the street made 80 feet wide
to the city limits. Now comes the big
sewer which la being laid In the boule
vard at a cost of $54,000, the cement
sidewalks, paving of the street,- to
gether with $126,000 which the Port
land Railway, Light & Power Company
will have to pay out to relay its tracks,
making the total cost of this improve
ment on Sandy boulevard run up above
$350,000.
Sandy boulevard taps a great dis
trict the Rose City Park, Gregory
Heights, Parkrose and the contiguous
points, covering nearly 2000 acres of
land. It will be late in the year before
this great improvement Is completed.
There will be double tracks as far as
East Sixty-sixth street, and from there
on to the end of the improvement there
will be a single track.
A viaduct over the main line of the
O.-W. R. & N. Company at East Thirty,
seventh street, costing between $70,000
and $80,000, will be built of reinforced
concrete the full width of the street,
which will carry Sandy boulevard, East
Thirty-seventh street and the Barr
road. This viaduct will be of orna
mental design. It Is the policy of the
city to build viaducts at all street
crossings of the railway out to the
city limits, which means that the track
must be lowered. Rapid settlement Is
following the line of the railway, and
it is considered necessary to eliminate
all grade crossings.
Alameda Park to Be Paved.
The paving of Alameda Park with
hard surface -is in progress, and is one
of the most extensive pieces of street
work under way on the East Side at
this time. All the streets In this beau
tiful residence section are being Im
proved. Thirteen miles of streets are
being paved in Alameda and Olmsted
at a cost of about $150,000. The pav
ing plant is located In the tract, and
the work is progressing rapjdly. It
Is projected to pave Alameda avenue
to a connection with Sandy boulevard
at East Fifty-seventh street, which
will connect all the fine residence sec
tions in the north East Side with the
boulevard. Alameda avenue foll&ws
the winding of the hill formerly called
Gravel Hill. It is a wide and beautiful
street. It has been graded and. side
walks have been laid and It only re
mains to pave , the roadway. Another
Improvement district In this section of
the city is the East Hoyt district,
which Includes part of East Hoyt, East
Twenty-ninth, East Thirty-first, East
Irving, Oregon, Pacific and Holladay
avenue to a connection with Sandy
boulevard, the cost to be $27,747. This
will be a (travel bitulithlc pavement.
and the work will probably be done by
the Barber Asphalt Paving Company,
Some other minor improvements run
up the cost of paved streets in the
Sandy boulevard district above $so,-
000.
Peninsula Streets to Be Paved.
. Contractors Gleblsch & Joplin, who
secured the contract for eight streets
in Kenton for Westrumite pavement
at a cost of $91,000, will start work on
these streets at once. These are part
of the 14 streets it is proposed to pave
in the Peninsula Bection. Elwood
Wiles secured contracts for four streets
in-Kenton. but outside of laying c-e
ment sidewalks he has done nothing
toward improving the streets. These
streets include the settled portion of
Kenton, and the total cost of all the
projected streets in Kenton, Including
the Eradlnc and laying or cemeni side
walks, will be fully $200,000, if not
much more, making it the largest paved
district on the Peninsula.
It Is nroJected to pave Greeley street
between Klnnigsworth avenue and
Lombard street, which will not De
started this year, but the street will be
graded and cement sidewalks will be
put down." Lombard street will be
paved between Wabash street and
Denver avenue. Another extensive Im.
nrovement projected is tnat or w n-
lamette boulevard io waoasn sireei,
and Wabash between Willamette bou
levard and Lombard street, which win
be undertaken this year. There is also
a movement unaer wy m an.,,
avenue paved between Klllingsworth
avenue and Columbia boulevard, a wide
street running through the settled por
tion of the Peninsula. Patton avenue
must be straightened near Columbia
boulevard. This may be the Oregon
approach to the Interstate bridge
across the Columbia River. With the
contracts already let in Kenton and
the improvements projected on the
Peninsula the cost win pe ueimecu
$500,000 and $600,000.
South East Side to Be Paved.
The district improvement of Brook
lyn, including Tlbbetts, East Kelly.
East Franklin, East Twenty-eighth,
avenue. East Twenty-ninth,
East Thirty-first, East Thirty-third
and East Thirty-fifth streets, has been
completed and the assessments total
199 320 This district Is In Waver
lelgh Heights. ' The Holgate improve
ment district, in the South East Side,
will cost $82,372. The Oregon Paving
Company submitted the lowest bid for
(travel bitulithlc pavement. This dis
trict Includes Holgate .street from -Mll-nrniikte
to East Twenty-sixth, East
Twenty-sixth from Division to Holgate
street, Powell street between . East
Tenty-flrst and East Twenty-sixth
streets.
The most noteworthy Improvement
,,r,er wav in the South East Side is
that of Milwaukie street between Hol
gate and Nehalem avenue, in Sellwoou.
The Portland Railway, Light & Power
Company is re-laying its tracks be
tween Holgate and Bybee avenue. In
Eastmoreland a great contract Is under
way and all the streets of this beauti
ful residence district are being covered
-ifh hard-surface pavements. The
cost of pavements in Eastmoreland
alone probably will be above $150,000,
outside of the sewers and water mains,
all of which have been 'laid. West
moreland also will be paved as soon
as the sewers have been completed,
which will be finished very soon.
The contractor has tne improvement
of the streets in City View Park, at
Sellwood, well under way. where a
considerable district Is being paved at
a cost of about $57,000. The paving
of Spokane avenue, Sellwood, between
East Nineteenth and Grand avenue,
near the Sellwood ferry landing, at a
cost of $43,943 Is projected. Bids were
submitted, but the contract has not been
let. Umatilla avenue also may be
paved between East Nineteenth street
snd Grand avenue, at a cost of about
$25,482. Bids of several kinds of pave
ments have been submitted, but the
contract has not been let. At Sell
wood also the paving of Maiden avenue
from East Thirteenth to Mllwaukle
streets Is projected, at a cost of about
$8000.
Minor Improvements Numerous.
It is proposed to pave East Morri
son street between East Seventh and
East Ninth streets, over the embank
ment, at a cost of $7043, for which the
Barber Asphalt Company has the con
tract. Gelblsch & Joplin secured the
contract for the Improvement of East
Sixtieth between East Stark and Hal
sey streets, at Mount Tabor, for $18,485.
This Is to grade the street and lay
cement sidewalks.
Adams street will be improved with
hard-surface pavement between Holla
day avenue and Oregon street, to give
access to the new railroad bridge, at a
cost of $6855. Montague-O'Rlolly Com
pany has this contract. The Paclflo
Bridge Company secured the Improve
ment of Marguerite avenue between
Division street and Hawthorne avenua
for $19,017.
" The Golf Addition, south of Sellwood
on the Milwaukie road, is being Im
proved by the Warren Construction
Company and Montague-O'Reilly Com
pany. The former company is grading
preparatory to laying cement walks
and hard-surface pavements and the
Montague-O'Reilly Company Is laying
the sewer system. This addition is
Just outside the city in Clackamas
County. It Is to be made a high-grade
residential section. The Improvements
will probably cost $75,000.
In the warehouse district the paving
of Belmont street between Union av
enue and East Water, with stone
blocks, has been completed at a cost
of $20,159. Also the filling and sur
facing of East Second street between
East Oak street and Hawthorne av
enue has been finished at a cost of
134,036. The O.-W. R & N. paid part
of the cost of this improvement.
GONOIHONS ARE SOUND
rPHAllD SWIXG IX GEXERAIj
BVSIXESS IS XOTED.
Political Developments Give Inti
mation of Xo Serious Turn for
Worse, Says Trask & Co.
"While It would be too much to say
that the business of the country at
large was dominated In June by the po-
i.i i . 1 .. ..ll.a.DaJ knth In t h A
1 1 1. 1 1 ill BLIUKies Blllimiitu " ----
Republican and Democratic conventions.
It is certainly true mat tne ipeiumuto
and Investment markets found little
encouragement for activity in the at
mosphere of uncertainty which these
conventions cngehdered, says the ad
vance sheet Issued by Spencer, Trask &
Co. and received yesterday by Wilfred
Shore & Co.
"It is evident from the political de
velopment of the last few weeks that
tho lines of cleavage between the two
established parties have become less
sharply drawn on the old Issues, and
that In their gtead new forces are being
created which, for better or for worse,
appear destined to determine to what
extent the so-called progressive' poli
cies are to govern the attitude of the
Nation toward vested capital.
"That business Itself Is not worrying
overmuch about the future solution of
these problems, is evident from the
steady flow of trade, indicated by the
increase In total clearings (notwith
standing the great reduction in activity
on the New York Stock Exchange); by
the material advance In basic metals;
by the Increasing demand tor laoor; by
the decrease in tne numucr m i
and, to mention no other, by the volume
of our foreign trade, which reached dur
ing the fiscal year Just ended the enor
mous total of four billions of dollars,
easily the largest total In the history of
the country.
"As these results were achieved while
the general complaint of indifferent
business was being pretty generally
voiced all over the country. It seems
pertinent to ask whether a more active
development would really have been
healthy.
"We are of two minds In. asserting
that anything In the shape of a boom
would have produced a much less sound
condition, and would Inevitably have
laid the seeds for future retribution.
"We are of two minds In asserting
that anything in the shape of a boom
would have produced a much less sound
condition, and would Inevitably have
laid the seeds for future retribution.
"In this connection, and particularly
since the first half of the year has now
been completed. It may be interesting
to make hasty survey of what
changes, actual and seasonable, have
occurred In the six months Just ended.
"We find that steel bars, after a pe
riod of depression lasting for the bet
ter part of a year, have advanced near
ly 9 per cent, and that lead, while only
a fraction higher than the price ruling
at the end of 1911. has recovered more
than 10 per cent from the levels reached
early In the present year. Copper has
made a clear advance of over 23 per
cent and silver of 13 per cent. In
grains. It Is seen that corn has gone
up more than 17 per cent and wheat
nearly 22 per cent, while" raw cotton
Is costing nearly 25 per cent more
.. . i-. . i. ...... advances we find that
- Againai. - , . .
banking conditions, as expressed by net
deposits, relation oi mans
norrentaire of surplus in the New
York banks, all show a healthy im
provement, wnue money,
months and on call. Is not on y lower
.. Lao-inn nir of this year, but
Limn tit u o -averages
lower than for the same pe
riod in the last six years.
"As against this increase ...
. , h.nifins- conditions.
lty prices anu cboj - , ...
we find that In the six months of this
vear the volume oi rm..uu
?"..., .u- Vow York Stock Ex-
traaeu in ui
change has fallen U I per cent . lower
than In the correal--" p""" "
i 1 1 A f h a month of June it
1911. w ii ne v" ..
was exactly 60 per cent smaller than
In June, 1911. on tne oiue.
have shown an Irregular Increase, rail
road stocks having advanced on an
average about 2 points, and industrial
stocks a full 8 points.
In our Judgment, the deduction to be .
. n ii,i,a flcnrea is that the
maae irum ... - - -country
is In a sound economic condi
tion and entltiea io luimci ..c.i...,
tion anu .., no-mica hould
nansion, .. -
take an unexpected turn for the worse.
or a d saster overiunc
and tne oener s' -
ulary Industrial stocks, may be bought
witn uiouiciiuM,
nrnlrh WA bsllfiVA TT". I" -
l ne nuciiii " -- f
Its the closest attention does not He In
this country, but in Europe, aiuiuusu
1.3 aiitilpmonta hnvA nassed
tne miu-jc -j , , -
off with less trouble than originally an
ticipated, tne uiiaiii.ii ..i.uK..-.
.c T. . .. n- .nn i-imr. and we.belleve
mere . n " , -
that the crisis will come when we. who
have now large credit balances abroad,
will need all our available funds to
take care of the expected expansion In
business.
Xcw Dwelling Sold.
n-u. now i-oalrience of E. F. Ferris.
on East Forty-ninth street, near Stan
ton street. In Rose City Park, was pur
chased lst week by J. C. Welch for
susoo. The sale was negotiated, by the
Clauson-Craig Company,