13
THE SUNDAY OREGONIAN, PORTLAND, MAY 13, 1917.
THREE BIG DEALS
IN REALTY CLOSED
New Concern, With Some of
Old Stockholders, Buys Rail
way Exchange Block.
$90,000 APARTMENT SOLD
Wind River dumber Company Mill
and Timber Holdings Taken by
Another Organization Repre
senting Nearly $1,500,000.
'.Transfer of ownership 'in "the Rail
way .Exchange building to a new cor
poration Including new investors, the
Bale of the New York apartments, paid
for in part by a valuable farm property.
spaces in the Railway Exchange build
ing Just east of the main entrance to
that building.
As a result of this settlement of dif
ficulties over the leasing of quarters
in ths Chamber of Commerce building
extensive alterations will be com
menced immediately on all three prem
ises to fit them for the occupancy of
the new tenants. E. P. MacNaughton
will have charge of the alterations in
the corner of the Chamber of Com-,
merce building and also the changes in
the Railway Exchange building, while
Lewis Irvine Thompson will look after
the changes ordered by the Hartman &
Thompson bank.
The corner space now occupied by
the Hartman & Thompson bank has
been leased for a 15-year period to the
Canadian Bank of Commerce.
Big Lease Reported.
The two-story brick building cover
ing a quarter block of land ,on the
northeast corner-of Second and. Alder
streets was leased last week through
the offices of W. II. Webb and H. G.
Terry to J. Simon & Bros., wholesale
and retail dealers in salvage, now lo
cated on Front street. The lease will
run for a period of 10 years and is
said to carry total rentals of nearly
i 100,000.
The building at Second and Alder is
owned by the estate of Huldah G. Dyer,
of which Walter Eaton Dyer and D. W.
Wakefield are executors. Some years
ago officials of the Hibernia Savings
Bank, intending to. erect a new-banking
home on . the ' corner, 'leased the
property . for a 99-year " period. This
lease was terminated recently by re
lease. The Dyer property is now occupied'
CITY OF
1937 IS
500,000111
PREDICTED
Pacific Telephone & Telegraph
Corripany Survey Compiled
by Exhaustive Study.
ALL INFLUENCES VIEWED
Transportation, Lumber, Shipbuild
ing, Manufacturing, Trade Terri
tory, Legislation, Community
Spirit Are Held Factors. - --
." Officials of the Pacific Telephone &
Telegraph Company, in compiling the
survey of Portlandcompleted recently,
considered the following factors as
those most likely to affect the future
ATTRACTIVE LAURELHURST BUNGALOW IS SOLD AT REPORTED VALUATION OF $6500.
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A'evr Home Located on Northeast Corner of Kaat Davis and Kant Kor y-f lrt Street ortb, Which Wm Pur
chased Laat AVeek by Mrs. L. Talbot From Dwlght Cheney.
the conclusion of a $1,500,000 timber
deal which has been pending for some
time and a number of Important leases
formed the high lights in Portland's
realty market last week.
; Following negotiations that have
been under way some months, title to
the six-story reinforced concrete Rail
way Exchange building was conveyed
last week by the Railway Exchange
Building Company to the Railway Ex
change Investment Company, a newly
formed corporation composed of the
old stockholders and a number of new
stockholders who are making extensive
investments In the property.
At the head of the group of new in
vestors is Grant Smith, millionaire
railroad contractor, who Is the prin
cipal owner of the Hotel Multnomah
property and who also has shown his
faith in - ortland realty during recent
years by purchasing several apartment
buildings both on the East Side and
the West Side.
Nw Investors Admitted.
Others among the group of new in
vestors are: Peter Autzen, president
of the Peninsula National Bank: F. P.
Drinker, manager of the Peninsula
Securities Company; J. F. Daly, presi
dent of the Title & Trust Company; S.
F. Wilson, vice-president and manager
of Bankers' Mortgage Corporation, and
Robert Krims, a local attorney.
Under the terms of the reorganiza
tion deal the ground rent has been
reduced by the owner of the land,
Elmer E. Mallory, from $18,000 a year
to $12,500 a year, the latter figure
amounting to 5 per cent on $250,000.
The - ground lease has also been ex
tended to expire in 1947. The building
itself has been appraised recently at
$192,800.
-Only that part of the Railway Ex
change structure facing Stark street
for the full 200-foot length between
Third and Fourth streets was Involved
in last week's deal. That part of the
structure on the Third-street side next
to the Spalding building, known as the
Peterson property, was not transferred.
The Railway Exchange building was
put up about eight years ago. It bears
the reputation of being one of the best
constructed buildings in Portland and
is -said to contain a greater percentage
of window space than any other down
town office structure.
Apartment Block Traded.
The three-story New Tork apartment
build' jg which covers a full quarter
block on the northeast corner of East
Seventh and Belmont streets is now the
property of I O. Ralston, a Portland
capitalist, as the result of an exchange
deal handled last week through J. !.
Barrage, as realty agent for Mr. Rals-.
ton, and J. M. Wells, of the Smith
Wagoner Company, who represented
E. O. Tobey, formerly owner of the
apartment building. -
By the terms of the trade Mr. Tobey
receives title to the Ralston ranch of
886 acres, located about five miles
from Kalama, Wash., together with all
stock and equipment. All buildings on
the property are modern.
The entire half block on the north
side of Belmont street between East
Seventh and East Eighth streets goes
with the New York apartment in the
transaction. - The ground floor of the
apartment building is occupied by the
New jork Bakery. The entire apartment-house
property is understood to
be worth in the neighborhood of $90,000
while the ranch is said to have been
placed in the exchange at a valuation
of $15,000.
Timber Deal Closed.
Official announcement was made last
week of the sale of the Wind River
Lumber Company property to Portland
and Middle Western lumbermen at a
consideration 'between $1,000,000 and
$1,500,000. .
The Wind River Lumber Company
plant is located at Cascade Locks and
- the sale embraces a shingle and lath
mill, and several million feet of hem
lock, cedar and white pine timber, in
addition to the main mill, where nearly
830 men are employed.
" Officers of the new company, named
fhe Wind River Lumber Company, are
Xr. I. E. Earl, of Hermansville, Mich.,
president; C. G. Briggs, of Portland,
vice-president, and E. B. Hazen, of
Portland, secretary-treasurer.
Announcement has been made that
M. E. Ellsworth will be placed in
tharge of the company's plant and that
approximately $150,000 will be spent in
making improvements.
Bank Tangle la Straightened.
Arrangements were completed last
week for the removal of the Hartman
& Thompson bank to quarters now oc
cupied by the Pacific Title & Trust
Company in the Chamber of Commerce
building and for the removal of the
title and trust company to three st,ore
by various tenants, who will move out
immediately to mnxe way for extensive
alterations that are to be made in the
building under the supervision of E. B.
MacNaughton, a Portland architect.
New fronts will be put in, elevators in
stalled and other improvements made
to fit the premises for occupancy by
the lessees. ,
Three store properties located on the
northwest corner of Twelfth and Wash
ington streets, numbered 441, 443 and
443'i Washington street, were leased
yesterday for a five-year period to E. L.
Knight & Co., dealers In electrical
goods. Stanley S. Thompson repre
sented the property owners, the Van
Schuyver Investment Company.
VALUES HERE LAUDED
J, W. CROSS LEY SAYS TOAVXS IX
EAST AREXT ITP TO PORTLAND.
Realtors Who Left to Participate In
Detroit Boom Wish They "Were
. Back. 1m Declaration.
Living conditions in Eastern cities
do not compare favorably to Portland,
according: to J. W. Crossley, a real
estate man who returned to his post
with the Laurelhurst Company last
week after spending- considerable time
in Detroit as sales manager- for. the
Denier & Denier Company, which is lo
cated directly opposite the big Kord
plant.
"All of the Portland realtors who left
Portland to participate in the Detroit
boom now wish they were back in
Portland," said Mr. Crossley upon his
return. "We had a severe Winter in
Detroit and even at best the climate of
the big Michigan city and the living
conditions there do not compare with
Portland.
"The home owner can get a great
deal better home in Portland for less
money than he can acquire an inferior
home in Detroit. I should say the home
which costs $3000 in Portland would
command a price of $5000 in -Detroit.
By this I mean, construction cost. The
price of land in Detroit is also out of
proportion to what it is in Portland.
"Everybody" in Detroit nas loaded up
on real estate during the recent times
of - exceptional prosperity and the re
sult is that investors there are now
timid."
population of Portland: transportation,
lumber., shipbuilding. manufacturing
trade territory, legislation, community
spirit, center of culture, tourist trade,
mining, and banking.
The future population of 600,000 in
1937 was determined after an exhaust
ive study of sll these factors which ere
to influence the population growth.
Following- is that portion of the hith
erto unpublished final report which
discusses these essential factors:
Transportation has always ben a consid
erable factor In the support of the popula
tion of Portland. Previous to 1914. and
before water-borne tonnage was shifted into
trans-Atlantic trade because of the European
war, Portland enjoyed considerable business
from domestic and foreign water commerce.
The one large obstacle to shipping was t,he
bar at the mouth of th Columbia River,
but thla has now been successfully removed,
and it Is anticipated that a very large In
crease in water transportation will occur.
All rail transportation in the state of Ore
gon has centered at Portland since the rail
roads were first built, and will without
question always continue to do so.
The construction of additional rail lines
into the now undeveloped portions of the
state of Oregon will of necessity be reflected
In the Increased commerce of Portland lnself.
both through increased shipping and through
the enlargement ot administrative offices
and other railroad activities and to the
increased wholesaling and Jobbing business
which will be necessary to maintain t he
territories adjacent to Portland. River
transportation will also be a large factor
as the areas adjacent to Portland become
developed and are forced to find economical
methods of transporting produce to and from
Portland. Probably one of t he most Im
portant elements In the upbuilding of Port
land wilt be the development of the tribu
tary areas In the states of Oregon and
Washington.
The lumber Industry, as we all know. Is
probably the most Important element In
our present and future prosperity, but with
practically one-sixth of the stand I ng timber
In the United States located in Oregon and
adjacent to Portland, there can be no ques
tion as to the "prosperity of that line of
endeavor as soon as normal conditions in
trade routes make possible the handling of
lumber shipments.
Shipbuilding has suddenly become a prom
inent industry at Portland. Contracts for.
ships to be built In the Columbia basin
already total $25,000,000. Steel vessels are
being built at Portland, and plans are under
way for steel rolling mills and machine
shops to supply many of the materials for
steel ships. . Wooden ships are being built
for ocean-carryins trade. This industry will
probably remain of f irst-clasa importance
to Portland for at least 10 years.
Portland cannot be defined as a. manu
facturing city in the period of this estimate,
because of a market limited in population
and area. There are, however, many types
of local Industries which are established
when a. city ls. a trade center for a large
territory. These plants can be best de
scribed as those manufacturing articles of
every-day clothing and foodstuffs, establish
ments such as machine shops, printing shops
le of the f
etc. I
cal Indus- I
and Industries allied to the trade
territory, such as box factories.
In addition to these so-called loc
tries la rarer Plants M.r already established
for the manufacture of furniture and other
wooden commodities and for the milling of
riour and the like. Additional plants of this
nature are expected. Toward the latter
part of the period under consideration Port
land may b manufacturing commodities for
Pacific Ocean trade, although this will not
be a large factor.
Portland la the business center of a large
trade territory. which fact contributes
largely to the support of the population.
The business firms dealing with the trade
territory constitute a large portion of the
firms housed In the 03 large office buildings.
The development of the resources and trans
portation facilities of this trade territory
further will Increase fhis class of firms.
This Indicates that the character of a large
part or the business done at Portland is
such as can be handled through offices and
by the establishment of business headquar
ters, general offices and miscellaneous
agencies, of which manufacturing agencies
are prominent. There are more firms in
offices .In Portland today than In some
cities tttrlce its size, and It is thought that
a high percentage of firms of thla char
acter will be maintained.
Allied with these firms and growing in
number and Importance with them as the
trade territory' develops are the wholesale
and Jobbing Interests.
Suburban and retail trade 'grows to be a
large item In a business center for a large
trade territory. This trade alone will sup
port a large retail district at Portland. As
business grows and develops, traveling men
and their families are located In the larger
business centers. Traveling men are more
and more prominent In the business con
ducted from aucj. cites as Portland will be
In the future.
' Legislation which might -"adversely effect
buaineas Interests and conditions has been
considered. It Is felt that thla Influence ia
to some extent responsible for the reluc
tance of capital to embark in new enter
prises, but It ia assumed tha any legisla
tion -adversely affecting the prosperity of
the- state would not lobZ .remain on the
statute books.
The community spirit has its effect upon
the growth of a city and it may either ac
celerate or retard it. An enthusiastic and
powerful community spirit devoted to the
upbuilding of Portland will accomplish
much for it advancement and development.
Portland already is well established aa a
center of culture. Reed College, the Benaon
Polytechnic School, the Medical School of
the University of Oregon, and numerous
private schools are the nucleus ot what
will undoubtedly become an educational cen
ter of large importance on the Pacific Coast.
The well-admtnlatered. Public Library of
Portland and its school system are elements
which will help contribute to thla develop
ment.
Allied with thla Influence Is the need of
a large city, in each large geographical area.
as a supplement to Isolated rural life or the
life in small adjacent towns.. Those who
have made money In such places many tlm
seek the advantages of a big city. Port
land hat already received considerable con
tribution- from the Pacific Northwest and
from other parts- of the United States and
Canada.
There are unusual ' scenic attractions for
tourists In the Northwest. The removal of
the $17.50 differential will Cause a large
increase in tourist travel. At a glance this
tourist trade might not seem to affect Port
land materially. Considering,' however, the
necessary Increase In hotels and the stores
catering to transient trade, this will prob
ably be a rather strong feature In the
growth of Portland.
Mining is a factor that will play a part
in the future growth of Portland, but of
course not to the same extent as other ac
tivities. In the tributary areas of Portland
are many districts rich In mineral wealth,
which just now are beginning to be de
veloped. As these territories 'disclose their
riches, their beneficent Influence is certain
to be reflected in many of the phases ot
Portland life.
Portland always has been an Important
financial and banking renter and its lnflu
develop as both the city and surrounding
territory grow. Because of Its geographical
location, . Portland can more advantage
ously serve a very large area to better ad
vantage than other places not so centrally
located.
Portland has certain advantages which
make a continued and largo Increase In pop
ulation practically certain. These advan
tages are ot basic importance both socially
and commercially. - The location of the city
on a waterway navigable by large vessels
and at the convergence of many lines of
rail transport at Ion is of prime Importance.
Its location is in the center of a district
having an unlimited quantity of raw ma
terials for certain kinds of manufacturing.
Portland has a remarkable pure supply of
city water, obtainable under the most ad
vantageous conditions. The sources of sup
ply for foodstuffs are located so close that
the supply ia easily and cheaply obtained
and can bo Increased to almost any extent
to meet the demands of a future population.
The climatic advantages, as regards mean
temperatures and opportunity for carrying
on Industry at all times of the year, are also
marked.
Some of the handicaps which have tended
to restrict Portland's growth In the past
are: Ita isolation from thickly populated
areas which could be developed as a mar
ket for manufactured products. Recently
the general business depression, causing a
slowing down In the lumber industry has
greatly affected the prosperity of Portland.
The shortage of shipping facilities and the
freightcar shortage have been more recent
Instances of handicaps under which Port
land la bors. Most of these handicaps can,
and will be, removed, especially after nor
mal conditions as to world commerce re
turn at the close of the European war.
A statistical record of the growth of any
community generally furnishes a basis for
the prediction of future growth. If the
causes underlying the tendencies disclosed
by the record can be determined. The com
paratively short history of Portland so far
presents two distinct periods: Prior to 1JH5
Portland was a rather small city with Its
activities devoted largely to transportation,
lumbering and banking. This period was
marked by slow and steady growth, having
no unusual features either of expansion or
otherwise. Beginning with the Lewis and
Clark Kxpositlon In 1H5 the second period
of Portland's . growth set in. This period
was characterized by the added factors of
construction and growth due to the enlarg
ing of activities other than the three main
ones above noted. The lesson to be drawn
from a study of these periods Is that, with
a renewal of activities such ss transporta
tion, manufacturing and other industrial and
commercial lines, a period of more rapid de
velopment will set in than has occurred dur
ing the past six years, the measure of this
growth being determined by the amount of
activity along these lines. '
WINDOW IS UNIQUE
"Shadow Box" Attracts Many
to Mathis Store.
DISPLAY EFFECTS UNIQUE
The investment in the electrical in
dustries of this country is equal to the
assessed valuation of real property and
improvement in Greater New York.
HISTORIC STABLE PROPERTY WILL BE REPLACED BY FOUR-STORY GARAGE BUILDING.-
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Cabinets, Showcases and Fixtures in
Interior of Xcw Place Are of
Honduras Malioff any--Floor
- Space Well Arranged.
Few Portlanders have been able to
pass the southeast corner of Fifth and
Morrison streets lately without stop
ping: to study the new "shadow-box
windows which have been installed
along1 the entire storefront in the cor
ner of the Corbett buildings occupied
a week ago by C. J. Mathis & Com
pany, dealers in men's wear.
"I wonder how they close the win-
houses the tailoring department, as
well as a special department for even
ins clothes and overcoats.
BUIIDERS" EXCHANGE ELECTS
Board of Directors Selected Wednes
day for Ensuing Year.
At the annual meetinjr of the Port
land Builders' Exchange last Wednes
day night the following were elected
to serv-e as the board of directors for
the ensuing year: J. S. Seed, general
contractor; Thomas Muir, president
General Building Contractors' Associa
tiont E. E. Gilmer. Timms-Cress Com
pany: W. F. Blaesing. of the Master
Painters' Association; F. C. Green,
president of the Electrical Contractors
and Healers' Association: M. H. Gunth
er. Sheet Metal contractor: D. L. Hog
gan. president of the Contracting Plas
terers' Association: E. I. Williams,
president of the Master Plumbers' As
sociation; A. J. Bingham, general con
tractor; James L. Quinn, general con
tractor; A. J. Murphy, of the Jones
Lumber Company.
FARM PROPERTY IX DEMAND
Sales in Portland and Nearby Arc
Reported for Past Week.
Ssmuel Doak reports the following
deals closed by him during the past
week:
Sold to Elton Watkins. lots 2. 4. 6
HOME OWNING EASY
Small Payments Required in
Ma,ny Instances.
BUILDING PLANS OFFERED
Companies Specializing. in Prepara
tion of Plans, Relieving Indl
. vidual of Worry and Ex
pense of Inexperience.
BT PAUL A. COWGILU
Secretary Portland Realty Board.
One of the problems facing the aver
age man who is seeking to acquire a.
home is whether he shall buy a home
already constructed or build one to
suit his own ideas and convenience.
Both plans have merits.
Of course, it is a much simpler
SHADOW-BOXM DISPLAY WINDOWS, INNOVATION IN PORTLAND, MYSTIFY PORTLAND PASSERSBY.
Architect Perspective of $50,000 Structure That I to Rlne at Once on Frailer Jb BIcLean Property on Southeast
Corner of Fifth and Taylor Streets.
Tle old Frazier & McLean stable building, which covers a full quarter block of land at the southeast corner of
Fifth and Taylor streets, will be razed to the ground at once to make way for the erection of a four-story
brick garage building which has been leased -by the owners of the property. Charles R. Frazier and Ellis Mc
Lean, to the parties having charge of the carriage of Government mail between the Postofflce building and the
depot by motor trucks.
Te plans' as PrePared by the architects, Sutton & Whitney, call for a four-atory structure of white cement
finish over concrete walls and heavy mill construction in the interior. The contract for the construction work
nasbeen awarded to Parker & Banfield. It is estimated that the work will cost about $50,000.
The main entrance to the building will be from Fifth street, but there also -will be an entrance into -the
basement from Taylor street. The stable building .will be wrecked, commencing - probably this -week.
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At Left In the Temporary Straight Window Glass AVhlrh Mirrors Street Scenes. While nt the Rlaht Is the New
Concave Glass Window In the C. J. Mathis Company Store, Corbett Building, Which Eliminates All Reflections.
dows up at ntg;htr' "Who is there
about to prevent a chap from lifting
that to hat from its perch T'
These are samples of the excited In
quiries made by passersby. few of whom.
It seems, grasp the idea back of the
shadow-box window. By employing
special curved glass and scientifically
arranged barriers at the base, the in
ventors of the shadow-box' device have
been able to create such a clear, un
obstructed vision that the ordinary eye
cannot detect the fact that there really
is a window before it. Instinctively
passersby stretch their arms forward
to make certain that they are not be
ing fooled and even then they are not
always convinced, as the windows are
indented some 15 inches from the side
walk line.
Displays Not Impaired.
The window displays shown in the
Mathis store are not Impaired by re
flections that come from points across
the street. This fact ' is proved con
clusively by a. comparison provided at
the present time in the Mathis store.
One section of the specially curved
glass was broken In transit and in or
der to open the new premises on time
Mr. Mathis was obliged to place an
ordinary straight glass in the corner
window frame on the Fifth-street side.
A person standing on the corner can
look in the ordinary glass window and
see reflections of - all buildings west
of the Corbett building on Morrison
street and can even see the trees on
the hills more than a mile away. In
the shadow-box window alongside,
however, nothing, but tho displayed
merchandise is visible.
Although Portland is the second city
in the United States to witness the
installation of the shadow-box win
dow, it is by no means an experiment.
Before choosing this , type of window
for his new store, Mr. Mathis visited
Denver, where the original system is
in use, and Robert H. Strong, manager
of the Corbett estate, also satisfied
himself on. this point by a complete
study of the device. Both explain: that
back of the extreme novelty, the new
window is essentially practical. The
invention is patented , and carries a
royalty. ' .
'Cabinets Made of Mahogany.
The premises of the new Mathis store
embrace a frontage of 0 feet on Fifth
street and 40 feet on Morrison street,
which furnishes a floor space of 2800
square feet on the main floor, includ
ing space back of the Corbett build
ing elevator, 1200 square feet on the
mezzanine floor and a like space In
the basement for storage and stock.
The cabinets, showcases and unit
fixtures in the new store are Honduras
mahogany, which prevails for the
woodwork throghout the interior. Be
cause of the adequate window space
and the use of light colors on the
ceilings and walls, artificial light is
not needed in the main part of the
Mathis store even on the darkest days.
Mr. Mathis has arranged his store so
that the hats and furnishings are dis
played well toward the front of the
establishment, while the suit depart
ment and the auxiliary dressing-rooms
are at the rear. The mezzanine floor
and 8, In block 39. Irvington Park Ad
dition. These lots were purchased as
an investment.
To Mrs. Martha E. Foxton. two-story
house located at 45 East Fiftieth street,
and also lots 9 and 10. in block 2. Seventh-street
Terraces.
To Louis Stopper. 120 acres of farm
land located about three and a half
miles north of Cape Horn. Wash.,
where Mr. Stopper and family expect
to make their future home.
To T. H. Trega, of Michigan. 4.13
acres of Improved land located on Co
lumbia boulevard, within the city lim
its of Portland.
Mr. Doak has several other deals
pending and reports that the demand
for good farm property Is especially
active.
Buy a Home First.
BY IEAf COLLINS.
(Suns to the tune of "Buy a Broom.")
THERE'S one bit ot wisdom that's worth
while disrating.
It's fortune's foundation, wherever you
roam.
And It Is Juft thla: for ucceful Inventing
Tho firt thins to do, friend. Is this buy
a bom.
Chorus
Buy a home! Ces to roam!
The first thing to do. friend.
Is this buy a home. . -
The rolling- stone sathers no moss while it's
rolling:
It first must set solid and sound on the
- loam:
If you want a chance of your future controlling-.
' Tou first must set settled, and first buy
a home.
The bee with no hive never stores up the
honey
To feed his old sse with a well-hoarded
comb:
Take a tip from the bee; If you want to save
money.
Get settled. ' set busy, and first buy a
home. ...
Apartment-house llvlns at best Is a -makeshift:
The family man should set -that through
his dome:
If he wants a place that will make peace
and make thrift.
The way to start out is Just this buy a
home. - '
A regular fellow will show up his mettle.
And, while rovers stray o'er the land and
the foam.
Most chaps want a wife and a good place to
settle.
And kiddles and happiness, they buy a
home.
The road Into happiness has one beginning;
Get this bit of wisdom wherever you roam:
All things In the world that are really worth
winning
Must start from thla point; therefore, first
buy a home.
Chorus
Buy a home! Cease to roam!
The first thing to do. friend.
Is this buy a home.
A patient anatomist has counted 273
hairs each square centimeter in a Euro
pean. 252 to 286 in a Japanese, only 24
on the average in the Ainos, a race
noted for its extreme pilosity.
How Does the National Life of Vermont Invest
Its Money?
The investments of the National Life are con
fined to the two highest types of trust fund se
curities municipal bonds and first mortgages
on real estate municipal bonds because of their
quick convertibility and recognized stability;
and real estate mortgages because of the wide
distribution of risk, the large margin of se
curity, and the high rate of interest return.
Its entire assets are employed in the exten
sion of agricultural and municipal credits and
as collateral to its own members.
It makes no Investments outside of the
United States.
The National Life does not invest
in commercial or industrial stocks and
honds. because of the difficulty of con-
i trol, the hazard of management, and
the fluctuations In value.
In no department is the success of
the National more marked than In its
investment practice. Security is never
sacrificed for speculative profit.
How Has This Investment Policy
Worked Out In Actual Experience f
In the last fourteen years the Na
tional Lire has Invested more than
1121,009.430.00 without suffering a single
loss through default., of principle or
interest.
Wise and safe selection has at the
same time secured a high average of
Interest earning.
WM. GOLDMAN, GENERAL MANAGER, 209 Oregonian Building
Men and Women of Character Wanted as Agents.
proposition to buy a home already con
structed rather than go through the
process of education necessary to su
pervise and construct an attractive
home of your own.
In most cities and towns there are
companies for the express purpose of
constructing houses ready for use.
These concerns acquire tracts -of land
and build their houses in quantities,
thereby effecting a saving in material
and labor. The wise operator places a
very close supervision over the style
of architecture and the- class of con
struction which goes Into his subdi
vision, for once the character of the
homes to be built is established the
standard of that subdivision cannot be
altered except under extraordinary
conditions.
The plan of acquiring your home
through such a company has many ad
vantages. It saves tho home owner
from a great deal of worry and em
barrassment, for the work of construct
ing a home in these days of advanced
ideas Is such a complex one that the
average man hesitates at assuming tho
task unless he is willing to pay extra
for architectural advice.
These home-building companies are
performing a genuine service in the
communities where they exist and are
enabling thousands of families to ac
quire their own homes at reasonable
figures.
Deep down In everyone's heart lies
the home-owning instinct. You may
wander from city to town and live in
hotels and apartment-houses, but lin
gering back of it is the desire to havo
your own home. Particularly is this
true of women, who harbor the hom
ing desire from early womanhood until
the goal is reached."
How shall we go about acquiring a
home is a problem upon the lips of
thousands. ' Many do not know how
easy it is. to secure their own homo.
With the home-building companies and
subdivision operators constantly willing
to sell lots and houses on small pay
ments down, there is little excuse for
the, average family living in rented
quarters.
- Director of - Prominent
Life Insurance Agencies
Members of Life Underrvrilen
Association of Oregon
Wm. Goldman, General Manager.
NATIONAL LIFE OK VEKJIONT.
Oregonian Bldg.
H. Q. Colton, Manager,
MASSACHUSETTS MUTUAL LIFB.
Chamber of Commerce Bldg.
. L Harmon. Managar.
PKN'N MUTUAL LIKU.
Northwestern Bank Bldg.
H rmce Mecklem. Manager.
NEW ENGLAND MUTUAL LIFB.
Northweatern Bank Bldg.
G. M. Slocum. Mgr..
RELIAN'CE LIKE INS. CO.. Pittsburg. p.
aos Morgan Bldg.. Portland. Or.
8. P. Lockwood. Vice-Pres. and Gen. Ma'
COLUMBIA LIFE A. TRUST CO,
i:u-' Stevens Bldg.
Pettis-Grosamayer Co., General Agents.
THAViiLKKS INSURANCE COMPA.VJ.
803-810 Wilcox Bldg.
E. W. Amesbury. Manager.
NORTHWESTERN MUTUAL LIKE IN3. OO,
Northwestern Bank Bldg.
Judd Lowrey. Supt.,
AMERICAN CENTRAL LIKE INS. CO-.
T19 Lekum Bids.
John Pauer, Superintendent.
THE PRUDENTI7AL 1NSCKANCS CO.
601 Northwestern Bank Bids-
T. H. McAUts. State Mgr..
UNION MUTUAL LIKE INd. CO..
Board of Trade Bldg.
Eigar W. Smith, Manager.
EQUITABLE LIKE ASSURANCE SOCIETY",
806 Oregonian Bldg.
State Members
Portland Realty Board
The following real estate men are
the accredited members in their re
spective cities of the Portland
Realty Board. None of these sought
membership, but were selected after
a canvass of the available men In
their line. If you have a real estate
transaction in any of these cities or
wish Information, write them:
Astoria Astoria Harbor Imp. Co.
Bend J. A. Estes.
Beitburt V. A. BogardL