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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (April 21, 1918)
21 RIGHTS OF REALTY EXHIBIT OF OREGON WOODS ATTRACTS WIDE ATTENTION AMONG EASTERN RAILROAD EXECUTIVES. ALL FOR t? 1.02 NOW AST Commission Not Collectable WEST COAST ILVSE'V-Ts ASSM on Sale After Contract Date Has Expired. F THE SUXDAT OREGONTAS", PORTLAND, APRIL 21, 1913. BROKERS EXPLAINED il.ew.wem i is. a mh jmimiilm, t v 'It C--prvvv-. .J i ' r : 11 r ill a I uuu u 1 f t -! ; i -1 i t - . T 77? I LEGAL VIEWS ARE CITED W. U. fehlTely. Attorney, Gives Re port. Baaed on Court Knllngs. aa Chairman of Lefal Committee of Portland Really Board. . tb Perttu4 lUelrr nord by w . n. 8Atvlr. attoraM Ctl..rQULA W the tsg4 MUB1UM ! th oxa. Can a real estate broker recover a commission for the sale of real estate la a caae whtn the cod tract employing him to make the aa!e expiree on a cer tain date, eay April I. and the sale la not closed by the broker until the day following, that U to eay. April IT The Supreme Court of the State of Oregon. In the caa of 81otboom Simpson Lumbfr Company. C7 Ore. lit. Hi Pae, 113. lit Pae. answer! this ques- tlon In the negative, The court beaea Ita decision upon the ground that tha atatute of frauda of thla ttato provide that a broker- em ployment to eell real eetate must be In writing and If not In writing- the em ployment la absolutely void: that every essential condition of the employment must be set forth In the writing;, wblcb la the sole source of the broker's aa taortty: and that If the broker and the owner have fixed In writing upon a definite date, say April 1. as the date upon which the agent s authority ex pires, that date Is binding and con rluslve upon the broker, who. In the absence of an estoppel. Is not entitled to recover a commission for services, however meritorious or valuable, un ices the sale which he was employed to make was made within the time lim ited In the contract, that la. on or be fore April 1. Oral Cmtrafi TeM. The court In effect holds that any ale made after that date would be founded upon another contract, an oral -octract. which, being oral. Is void. In other words, a contract required by the statute of frauds to be In writing cannot bo modified by a subsequent oral agreement. The exception above noted In connection with an estoppel would arise, suggests the Supreme Court. In a ease where prior to the date fixed for the expiration of the contract of employment, the broker, finding that he would be unable to close the sale of the property within the time limited applies to and receives from the owner an extension, an oral extension, of the term of bis employ ment. Under such circumstances where the broker relies on the oral extension and makes no attempt to force matters to an Issue within the time limited and the sale Is closed, even after the time fixed In the original writing for the termination of the agents authority, the owner would be estopped. L e.. not permitted to assert that the agent s authority was void by reason of the ex piration of the contract. To bold other- wtee would enable the owner to ml lead the agent to bis Injury. Neppach vs. Ore. etc H. It. Co- 4 Ore. 74. 0 Fac ill. 1 Ann. Cae. 1035. Bards- , Sheedr Caae Cited. Ip the case of Hsrdy vs. Sheedy, El Ore. IS. Ill Pac. 1123. the agent a au thorlty and employment expired, ac cording to the terms of the written contract, on August IT. On that date the broker addressed a letter to the owner advising thst he had sold the property upon the owner s terms and requesting tSat the abstract be brought oown to date and that the purchaser be riven sufficient time to have the ab stract examined. The owner failed to furnish the abstract and refused to rontinue the negotiations. The broker brought suit for his commissions, wblcb were denied him by the Supreme Court upon the ground that the broker was obliged by the terms of his employment to produce a purchaser not only able but willing to consummate the pur chase within the stipulated time, and that the broker had not earned his commission merely by producing a pur chaser who waa willing to purchase If he were allowed sufficient additional time to examine the title: that to have earned bis commission It waa necessary for the broker to have procured before the close of August 17 a binding con tract for the sale of the property or to have produced on that day a pur chaser ready, aeie and willing to Day 'he property on the owner's terms, without fixing conditions as to the ab stract or otherwise. Having failed In this partleular. the broker was not en titled to his commission Owner Held Met Reepeaalble. In the case of Slolboom vs. Simpson Lumber Company, above cited. It was contended by tbe broker that several lays before the time fixed for the ex piration of his employment be brought the purchaser and the agent of the owner, a corporation, together, and that the deal might have been closed within the time stipulated If it had not been for the Inebriety of the owner's agent, who was In such a condition of Intoxication during the laat few days of the time fixed for the closing of the contract that It was Impossible to close or even, discuss the deal. Tbe ale. however, waa actually closed at a later data. The Supreme Court held that even under tbese circumstances the broker waa not entitled to a commission: that the contract of employment definitely fixed the time limit of the agent's au thority and that tbe owner, the corpo ration, was not responsible for the al leged Inebriety of its agent, and that, therefore, for this and other reasons, no commission bad been earned. It Is to be Inferred that the broker under such circumstances should have either Placed himself In touch with soms other officer of the corporation having authority and procured an extension of his employment or should have closed the negotiatlona within the stipulated time through so-iie otber agent of the corporation. It followe from the foregoing au thorities that a real estate broker whose term of employment Is fixed by the terms of the contract and who does not bring about a sale of his principal's property until after the expiration of the stipulated time Is powerless to col lect a commission In the absence of the clement of estopoei. City to Extend Fire Limits. CTTEHAUa Wash, April 19. (Spe cial ) The Chehalts City Commission will, at Its next meeting, extend the city fire limits on petition of tbe Lewis County Canning Association, which plans to erect on Its site opposite the union psssenger station a large two-i-tory brick manufacturing and ware house building at aa early date as the work can be started. This will be the first application of the fire limit pro visions to property en the west side of the double-track; system through the city. - . . SECTIOX OF SALES PICKING High Class Residence Proper ties Now in Demand. MUCH ACTIVITY IS NOTED Fred A. Jacobs Company Makes Large Number of Cash Sales Re cently, and Manager Beckwlth Says Demand la Increasing. Marked improvement in tbe demand for high class Portland residence prop erties; particularly noticeable in the fact that recent transactions have been for cash without trades and exchanges, la pointed out by H. G. Beckwlth, man ager of the Fred a. Jacobs Company. In tbe past few weeks the Fred A. Jacobs Company haa completed a large number of cash sales of sucb residence properties. In each case cash was paid down by tbe purchaser and no trades figured. "There can be no question. said Mr. Beckwlth. "that residential property of this kind is again on the move, and the upward trend Is really only at its beginning. Much has been said of late of the demand for houses of the cheap er kind, but little emphasis haa been placed on tha fact that the higher class properties are also moving. There is a good call tor tnis prop- erty In all the good residence sections. and the best part about It Is that this call la improving constantly. within the next few months there Is likely to be a scarcity of high class homes in tbe market-" Among the cash sales closed by the Fred A. Jacobs Company recently, all the sales being handled by S. S. Bat tin, are tbe following: Walter Daly, of the Title Trust Company, purchased from K. G. Buf- fum. of Buffum at Pendleton, residence at 903 Overton street, consideration $10,000. Mrs. D. Niece purchased from W. C. Allen furnished bungalow at 128C Sandy Road for $7200. Mrs. Clara Whitney purchased from Frank Creasy, manager of the Gauld Company, house at corner of Sandy road and East Forty-fifth street, for $5500. C Mahlam purchased from Robert Beat two-story bouse on Mason street and Alameda Drive for $4S00. Lv M. Keene purchased from Mara FTawes Dutch colonial bouse at 45S East Twenty-eighth street North for $6500. H. N. Rasmussen. of Kerr. Girrord Co purchased from Mrs. Henry Failing Dutch colonial bouse at sf cast r u teenth street North, for 5i)0. R. Ji. Fox purchased from Mrs. E. T. Carswell residence, at 451 East Twenty eighth street North for $S500. Clarence Harrison purcnasea luoxiuu comer at East Twenty-first and Han cock streets from H. L. Camp for $5350. PARKRCSE ACRES ARE ACTIVE Home Properties Sold by tho J.' L. Hurtman Company. A. IL Hickman and C L. IVilson. of the J. L Hartman Company, salesmen for Parkroee. have sold since the first of the Tear a bouse for F. L Reynolds on Craig road, one on the same road for Mrs. Benard. one on Prescott street tor David Richards, one on the same street for J. Klmber. one on Richardson road for Mr. Robertson, one on Falling street for Mrs. Delnes. and one on Clarule etreet for K- H. Lee. These properties are all Improved with homes. Mr. Hickman and Mr. Wilson have also sold a number of vacant pieces of prop erty owned by the J. L. Hartman Com pany. J. W. McFADDEN IX PARKROSE Builder of Rose City Park Homes to Erect More Bungalows. J. VT. McFadden. builder of most of the homes along Sandy road in Rose City Park, has purchased through Mr. Hickman and Mr. wnson. or toe j. ij. Hartman Company, an acre on Sandy road, in Parkrose, and will soon begin to improve the tract with modem bungalows of the Rose City Park type. Mr. McFadden has selected a sightly lo cation, a knoll two blocks east of the Parkroee station on the north side or the Sandy Road, upon which he will at once start his first bungalow. RESIDENCE PROPERTY MOTES Frank L. McGuIre Makes Many Sales of Homes. Residence property in Portland is steadily changing bands, and condi tions are on the upgrade, with every indention for a further revival and Increased activity In realty lines, as evidenced by tbe following recent sales made by tbe Frank L. McGulre Com- P': ... The MUtinoviue iouege som to William B. Layton a seven-room resi dence at Jii Vaughn, street, Willaoa- 1; ;i?B1fi 4 DISPLAY HADE BT CHESTER J. HOG ette Heights, for $4000 cash, which Mr. La r ton nurchaaed for his future nome. Mrs Florence G. Hawkins sold to C P. Cramer a modern residence at 17 East Fiftieth street for $3100; E. M. Bergen passed title to 1391 Tabor Court to Clarence Howard for - pur chased for a home; E. Sbank sold to R. E. Honstetn modern bungalow at 1266 Eaat Seventeenth street. Westmoreland, for $2600; T. D. Sutherland sold to John K. Kllnk house at 1062 East Thirteenth street for $2500; W. A. Wallis sold to Fannie B. Sllpp his modern residence in Gregory Heights. 741 East Seventy- sixth street North, for $2500, purchased for a home: B. F. Stephens sold to Jean Kies modern bo ise at 877 East Sixth street North for $2350. purchased for an Investment; J. G. Schmitt sold to A. W. Hildebrand hruse at 1073 East Eighth street Nort't for $2200, pur chased for a home; J. G. Eclimltt sold to A. Stmonelll house at 1069 Eart Eighth street North for $2000; V. H. Dunham sold to Chris ScbwarU modem bungalow in Montavilla, at 4 East Eighty-second street North, for $2000; 77 East Terry street sold for Michael Ferley to Omar Moore for $2100; 768 Halght avenue sold for Mrs. W. W. Merriam and Olive T. Clark to Earl O. Smith for $1975; 951 Commercial street, sold for J. B. Miller to J. Jolma for $1785; 1078 East Twentieth street North sold for J. J. Bennett to Roy F. Miller, conslderatio t $1675; and sev eral others. LOTS OX PEXIXSCLA SOLD Coe A. McKenna & Co. Report Sev eral Transfers. The housing situation of the Pentn sula section is getting acute and bouses are being purchased as rapidly as they are offered for sale. Property owners preferring to sell their property have no difficulty in finding purchasers li the terms are made easy. The firm of Coe A. McKeiina & Co. large property owners and handlers of Peninsula property, report the louow in sales during the past week: Two lots in Peninsular Addition No. 4, to A. R. Johnson and T. E. Dodson; two lots in Northern Hill Addition and small three-room house to Julia M Sul livan; three lots In Northern Hill Ad dition to F. G. O'Connor, this property also having a three-room house; a 50x100 lot and five-room house on Ober lin street, near McKenna avenue, in Portsmouth Addition, to G. W. Van Al stine and Nancy M. Van Alstlne. and a seven-room bouse and two lots on Bowdoln street between McKenna ave nue and Monteith street, to Frank Marchlewlcx. Small houses, particularly, Mr. Mc Kenna says, are In demand, especially houses that can be sold on easy terms. With the construction of the grain ele vator and several other industries con templated for the Peninsula It Is ex pected that large numbers of new houses will have to be constructed to take care of the ever-increasing popu lation. CONDENSERY TO START UP North Bend Plant, Damaged by Fire, Makes Improvements. NORTH BEND. Or., April 20. (Spe cial.) Tbe buildings of the Sunrise milk condensery, which were badly damaged by fire a short time ago, are being repaired and altered, and it is expected that the plant, improved in many ways and with Increased capacity, will be in full operation within a short time. A new dock and boiler-house have been constructed and large boilers in stalled to supply power and steam for the plant. The company Is now paying 55 cents a pound for butterfat, but It is feared that the regulation of milk prices by the Food Administration may make it necessary for condenserlea materially to reduce prices. -'itwXrt I - i , j a? f f - 3 I r-j W5B wfcL XP' w'f .J- . lai!V.. rZ. -re. rry -4 New Bealdenee of K. M. Fox, at 451 East Twenty-eighth street - Nertfe. Perrehased Tknugl re A. jaeoss company S'rtsna Airs. E. T. Carswell. for SS500 Cash.. S. B. Battin Bandied the Bale, : 'J T- i 'Hi - ' 1 ,.w-! r LU IE I.H CHICAGO. COOS MINES WILL OPEi, THOTJSAJTOS OK DOLLARS SPKKT TS DEVELOPMENT WORK. Smith-Powers Rallread Extension Will Tap One ef Richest Coal Belts In Southwestern Part ef State. MARSHFIELD. Or, April 20. (Spe cial.) More mining talk and actual development worts is going on this sea. son in Coos and Curry counties than ever before, and reports indicate vast sums are being expended in prepara tlons for mining in several districts on a large scale. Probably the most notable effort to wrest gold from the worked-over coastal section is that of the Inman company, operating on the south fork of the Sixes River, where thousands of dollars have been expended in the past two years in development of power and tunnels. The Inman company has long tunnel completed that will divert the Sixes River when the company starts operations next Fall, and a saw mill on its property from which flumes and buildings are constructed. The product of the Sixes mine will be coarse gold. Harry W. Newton, a mining engineer, has Just completed an investigation of gold and platinum placer claims in the vicinity of Bullards, in the Interests of a company be represents. What will eventually open mines of various metals and minerals Is believed to be certain extensions of the Smith- Powers railroad in the southern part of the county, where one branch is headed towards Salmon creek, where gold, iron and other metals abound. Another branch of the Smith-Powers railroad is pointed toward Eden Valley, 16 miles from Powers, but only nine miles of road is necessary to tap some of the finest coal veins in Oregon. The coal field at Eden Valley has been sur veyed by United States geologists and rated aa seml-bitumlnous, whereas other coal In the county is lignite. FRUIT GETS EARLY START Clarke County Farmers and Garden ers Prepare to Plant. VANCOUVER. Wash., April 20. (Spe cial ) The warm weather of the past few days is making the fruit trees blossom and the trees are in many places entirely white. Tbe Mazamas will go through many orchards in Fruit Valley in their hike to be held here next Sunday. Farmers are plowing for Spring crops and war gardens are being planted now by the hundred. It is reported that no injury was done to the trees by the extremely warm weather the first of the year. The Oregon PacRlng Company is making preparations to open for the Spring canning season and will employ a large number of men, women, boys and girls, all of whom will receive the highest wages ever paid by this com pany here. There will be a big demand for canned goods this year. Defense Conncil Reorganised. CATHLAMET. Wash, April 20. (Spe cial.) The Wahkiakum County Council of Defense has been reorganized with William Stuart chairman. Activity is planned in all departments. A home guard has been organized and will be drilled by A. T. Flagg, county agri culturist, who had military training at the Washington State College. Phone your want ads to The Ore gonlan. Main 7070. A 6095. LUMBERMAN BUYS IRVINGTON HOME. Tone, Volume and Finish Equal to the $200 Models Heretofore $102 price includes 22 se lections of latest songs and other renditions, as well as all accessories. Get one now! Easiest terms: Deposit ?3; make payments during: 12 months. Bring This Ad With You SALE NOW ON AT GRAVES' MUSIC STORE See also our smaller size at ?52. It means the very most and the very best for the money a latest model talking machine, compact, yet sub stantially made; tone, equal to the best; beautifully finished ; guaranteed material and workmanship. See them or send for a machine and records on free trial. Deposit $3 and Pay Balance as Convenient You pick out 22 latest songs and any other selections, dance records, orchestras, band, etc., and all accessories, and get them included in the above price. A great shipment just re ceived all included in our great Phonograph Drive at Graves Music Store 285 Morrison, Near Fourth Also Entrance 151 Fourth St. A liwnoH TinrwKoi- rkf rheco Broadway at Alder same CONTRACT BIG ONE Northwest Must Supply All Phagnum Dressings. 500,000 BANDAGES WANTED Burdeii of Filling Enormous Order for .Needs of Army Hospital Service Falls on Red Cross of Three States. Press dispatches yesterday apprised Portland Red Cross leaders that a .Na tional call had been Issued for 500,000 sphagnum moss surgical bandages or Dads. Inasmuch as me only moss or me right quality is In the Northwest, the whole weight of the demand tans on the Red Cross chapters or uregon, Wnshlne-ton and Idaho. the uniTenslties of Oregon and Washington a careful canvass of both states has Deen maae ror spans -num. and Earl Kllpatrick, director of the bureau of development of the American National Red Cross, who ar- -Tri In Portland from liwaco. wasa.. last nia-ht. reported that on 2000 acres of cranberry bog there were enormous quantities of sphagnum, ana enougn on one 40-acre tract to take care of this order for 500,000 dressings J. J. Bush, of Dwaco, yesterday was appointed special agent of the Ameri can National rtea uross ai iiwacu uj the Red Cross War Council. He prom ised to mobilise the resources of the North Beach peninsula and have the moss picked and packed ready for ship ment. Oregon will be called on to make ! tt f . . " Sij A somewhat smaller mod- I Ms el, also with 22 selections, P . fi now only $92 . r5l These Latest GRAFONOLAS Are Truly Wonderful Llf m Qphinco g kn rm cola at H.ilora low price; same easy terms. ,l ,ii,ii,i,,r 200.000 of the dressings and Portland between 80,000 and 90,000, it was learned, which will tax the surgical dressing workroom resources of the state. Unfortunately few persons here know anything about sphagnum dress ings. The national leader of the sphagnum movement was Harry James Smith, who was killed by a train at Murrayville, B. C March 16. He had already made a few of the dressings at the University of Washington and it was due to thfeir success that the cable dispatches came yesterday order ing 500.000 for shipment July 1. Mr. Smith had not even put instruc tions for. the making of the dressings on paper. He had instructed a few people and they will be depended on for guidance. Chaplain Marsden Is Father Again. ALBANY, Or.. April 20. (Special.) Lieutenant Henry H. Marsden, chaplain of the 148th Field Artillery, now serv ing in France, became father of a boy here Thursday night. Mrs. Marsden is residing in Albany with her mother, LIFE INSURANCE COMPANIES INVEST IN MORTGAGE LOANS Report of Statistician of Association of Life Insurance Presidents Shows Change in Relative Amounts of Different Classes of Investments. ' THAT there has been a substantial i was 227 per cent. The percentage change during a decado in the rela- that such securities bear to total as . , . .. . I sets of life insurance companies in- tive amounts of the different classes of investments held by life insurance companies of the United States Is shown by an original report attached to the tenth annual proceedings of the Association of Life Insurance Presi dents, which are now being issued. This report which was prepared by Orlow H. Boles, the Association's sta tistician, is entitled, "Life Insurance Companies' Investments of the Decade 1904-1914. analyzed, classified, com pared and shown in their relation to the general economic progress of the United States, during the same period." Real estate mortgage loans on farm and city property ' have supplanted railroad bonds as the largest single class of investments held by life in surance companies. They have 'in creased in the ten-year period noted from 27.37 per cent of the assets of American companies to 34.46 per cent. The amount of these loans at the end of 1914 was $1,660,000,000, outof total assets of $4,830,000,000. In 1904 these loans amounted to $680,000,000. Rail road bonds have decreased from 30.16 per cent of the life insurance assets In 1904 to 26 per cent in 1914. In ac tual amount, however, the holdings of life insurance companies in railroad bonds increased during the decade from $750,000,000 to $1,250,000,000 or 67.32 per cent The wide apparent variation between the decrease in per centage and the large actual increase in amount in the case of railroad bonds, is explained in part by the fact that the assets of Ufa Insurance com panies were doubled during the de cade referred to. . In striking contrast to the reduction in the proportion of railroad securities held by life Insur ance companies, states the report, is the increase in the holdings of such securities -by savings banks from 291, 000,000 to $878,000,000 in the same de cade. " This is an increase of about 200 per cent or more than three times the rate of growth of the lire insur ance companies' increase In such se curities. The largest relative Increase In any single item of investments held by the life ' companies (outside of policy loans, over which they have no con trol) is in the class comprising state, county and municipal bonds. Their holdings in these securities increased from $160,000,000 to . $530,000,000 dur- ins the decade. Tha rate of Increase J . . ,i -o .W A.w- Oy- J vS? " tr t- V'.' a.' o - w - j . f -J N o V v x e-AfV 6Ww7W rT Mrs. H. H. Hewitt, while her husband is in the service. The little boy born at St. Mary's Hospital here Thursday night is their third child. Lieutenant Marsden was formerly rector of the Episcopal Church here. He was re siding in Maryland when he entered, the service as a chaplain. He went to France about three months ago. Asylum to Get Mexican Beggars. JUAREZ, Mex., April 10. Ancient customs of old Mexico are giving way before modern movements. The old, blind- and crippled beggars who have begge dcoins and said prayers for the tourists in front of the mission church are to be removed and placed in an asylum which was formerly Villa's packing plant for slaughtering stolen cattle. The women's charity commis sion of Juarez, similar to the Associated Charities in El Paso, has undertaken the task of caring for these mendicants who have hovered in the shadow of the ancient church and begged alms. Many of these beggars were killed dur ing the revolutionary battles because they were unable to seek safety in flight. In the case' of policy loans, which the companies ' are obliged to make upon the application of policyholders, the largest relative increase of all is noted. They jumped from $187,000,004 to $722,000,000 or 284 per cent Their increase in percentage to total assets Is from 7.54 to 14.94. Ducciors of Prominent Life Insurance Agencies Member of Life Underwriters' Association of Oregon Wm. Goldman, General Manager. NATIONAL, L.IFB OF VERMONT. Oregonlan Bids. H. G. Colton, Manager. MASSACHUSETTS MUTUAL LIFH. Chamber of Commerce Bids. Harmon ft Cummlngs, General Agent. PENN MUTUAL, LJFB. Northwestern Bank Bids. ' Horace Meclclem, Manager, NEW EiNliLANU MUTUAL, LIFBL. Northwestern Bank Bids. M. M. Johnson. NEW WORLD LIFE LNsURANCB CO.. 2U2 Stevens Blag. Albee A Amesbury. (general Aaenta. NORTH WESTliKN MUTUAL LIFE 1N8. CO, fiortnwestern Bana Blag. T. H. McAllis. State Mgr.. UNION MUTUAL LIFE INS. CO. Board of Trade Bidg. Sdrir W. Smith. Manaaar. EQUITABLY LIFE ASaURA.Sio-o aOCIETT. auo ureittDiiui diuk. ASSOCIATE MEMBERS Representative Realty Operators ef the btatea of Oregon, Washington, Who Are Non-Kesiuent Members w Portland Realty Board These men can ba depended upon to sell or exchange your property, or represent you In any way. . .. OREGON. Bend S. A. Eastee. Marahfleld Title Guarantee at Abstract Ce, Stanlield James M. Kyle. ' WASHINGTON. H nanism Gray Harbor Land Ge . Bidgelield H. B. Apperaoa. . , " 102.0