THE SUNDAY OREGONIAN, PORTLAND. APRITj 2, 1933
IS
SEVERAL HUNDRED NEW RESIDENCES ERECTED IN ROSE CITY PARK DISTRICT DURING WINTER.
Thousands Will See It
Join Them at the Auditorium
The newest, finest ways of building,
arranging, decorating and furnishing
your home now await you. Come.
Secure ideas that otherwise would cost
you heavily in time and money. The
inters Pay High Tribute to
Landlord for Domicile.
6
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ULumntu - - .
INVESTMENT IF ' :mk ' r : 'I
Si
1 Hm"T Mj
RETURN NIL ! 1 I .3s " 3 rl x"-f?s"s
NANCIAL
fvorbitant Interest Is Charged
on Property Valne and Tenant
Wastes His Capital.
&f fit xA , v ? 13 ft -S h s-. -Jl
Mr-P" ' " II' r''1
..vi
BY W. M. UJIBDENSTOCK."
The answer to the question whether It
setter to rent or to own your own home
a local builder.
HOME.
God'a thought.
Childhood's refuse.
Maidenhood's dream.
Woman's heaven.
Man's inspiration.
Rent i3 a fixed charge levied
ainst the individual or against
oup of individuals', as the family.
is impossible to escape rent; the
st that can be done is to get all that
required, or desired, for the least
at one. must pay.
We are treating here of the rent of
a man of moderate means the pro
ssional man, the mechanic and the
y laborer; those to whom the out
v is Important in two ways first.
an expense that must be met, and,
condly, to derive all they need or
sire for the amount they are will
? to pay. As a rule, what must be
id is what the landlord considers
must have for any given premises
yield him a profitable return
hether, in fact, that return is ex
xordinary or not upon his invest-
ent in the property that is rented.
which consideration he pays to
nt. to proper depreciation from all
usesv including, the care bestowed
tenants having only a transitory
terest. accounting for extraordl-
ry repairs and also with regard to
ose periods when the premises will
vacant and yield no revenue at alL
Landlord Gets) Good Retnra.
This article is addressed to those
to rent under these conditions;
ose who occupy premises at the will
a landlord.
Investigation has shown that the
erage annual rent derived by
ndlord from a house is from 10 to
per cent on the value of the land
d the house; but again, whether
or 20 per cent is largely contingent
excluding any possible advantage
king motive, mistaken or other-
Ise, on the part of the landlord
on the position of the land with
ference to Its residential preference
d th convenience and condition, of
house. For instance, a house.
werer good, located In an undeslr-
e neighborhood will Justify a lower
nt, possibly, than a poor "house in
tetter neighborhood; but a good
use in a good neighborhood should
mmand the highest rental. It is
rent that la the criterion of this
scussion.
By careful analysis of all costs !n
last few years, great advance
3 been made in the direction of glv-
S much more than formerly to a
an for the rent he is willing to pay.
House Rent la Fixed Charjre,
This has heen accomplished by unl-ing-
In one operation the functions
the banker, of the builder and of
e renter, and also conceived in the
uth that - house rent is a fixed
arge for every individual needing
bouse; and furthermore, upon the
ct that 7 per cent interest is a fair
d profitable rate to collect on sums
money actually owed at periods of
terest payment. Any hindrance, all
e conditions necessary being pres-
t to the general acceptance of the
oposition here described and ei-
ained by the house renter, would
justified, if at all, toy the skeptl
sm that has been fostered in his
ind by unscrupulous realty promot-
and the fear that he is laying
mself open to individual exploita-
on. As a matter of fact, however.
is but one of the factors in the
uation necessary to its solution, as
source of commercial profit to all
rticipants, including himself. He
a partner in the plan, from the fact
at his rent is a necessary condition
partnership, and the only one who
i count a loss is his) previous land-
rd.
Combination Hut Exist.
This combination of the banker
ho supplied the money, the builder
ho supplies the material and the
bor that calls for the use of the
oney, and the renter, who is indis-
rnsable to the other two, who will
;e his fixed charge to pay the Inter
t on the money thus employed, is
& means to the end.
It is found, however, that the pres
et fixed charge of the renter is
reater than is necessary to divert
e rate of Interest that is asked,
:d the difference between that rate
lid the amount of the renter's fixed
large may be returned to the renter
the form of the property that he
f cupies.
One example is tetter than a thou
nd arguments. Let us take for in
ance that you are a renter and wish
k apply your rent to the purchase of
home. First your realtor or builder
lects a lot in a good neighborhood
fay in the vicinity of & park in a
etrictea locality, a block or two
om the car line, giving a direct and
lequate service. Then, without cost
you he prepares a sketch, of a
buse for you that exactly accords
itb. the desire of your family, and
akea plans therefrom, and offers for
-ur approval the specifications upon
Above at left Bingalow erected at Tillamook and East Fiftieth afreets by W. I Sears at cost of $10,000. Above at right Home of Henry Thlele Jut
completed at East Fiftieth street and Tillamook street at a cost of lo,w. ueiow at leit uuneaiow no me or v. msiminser, "K on """i
Fit tletn street between Hancock street and Broadway. Below at rlgrht Harry E. Eaton's new 1P7000 home at 413 East Fiftieth street North.
which it is proposed to construct a
house. He then employs the capital
to purchase the material and pay the
labor, technical and professional skill
necessary to erect the house. Now
let us suppose that the house and
land, has a value of J4500. Let us
say that you are paying $50 a month.
If this is the case you are paying
to a landlord a rate equivalent to
approximately 14 per cent on the
valuation.
Financial Feature Shown.
The following table represents the
financial outcome of this proposal:
Original Principal, 14500.
Payment $50 per month on both interest
and principal. Interest first deducted, balance-
applied on principal.
-aia on
Payments. Interest, princip'l.
1st payment 500.00 S 500.00
1st year 600.00
2d year 600.00
3d year 00.00
4th year ooo.oo
5th year eoo.oo
6th year 600.0O
itnyear ...... tw.w
8th year 600.00
9th year . 600.00
10th. year 3.98
$ 269.53
245.77
220.02
J92.59
163.14
131.53
97.63
61.33
22.42
.02
3-30.47
354.23
379.98
407.41
436.86
468.47
602.37
538.67
677.58
3.96
Totals .....15903.98 $1403.98 $ 4500.00
How Interest Is Calculated.
The 7 per cent is not -calculated on
the J4500, wlfich represents the obli
gation in the above example. It is
calculated on what you actually owe
from time to time on this $4500; for
Instance, your first payment of $500
is deducted from the amount due on
the principal, and your .first monthly
payment of $50 includes one month's
interest, at the yearly rate of 7 per
cent on only $4000. After deducting,
the interest the balance of each
monthly payment is applied on pay
ment of the monthly decreasing prin
cipal.
The renter who accepts this plan
of acquiring a home should observe
that while the amount of interest he
pays monthly is getting ' less, his
equity in the property is getting
more, until eventually it is his en
tirely. It is ail a means of loaning
you money and furnishing you with
the security for it and using a fixed
and Inevitable charge against you to
return the money loaned and pay the
interest payment charge and then
deeding you the security outright.
Landlord Still Is Owner.
If you live under the rent plan you
must pay $50 a month rent for ten
years and your landlord still owns
the property at the end of that period
and can rightfully ask you to vacate.
But if you pay the same amount and
put it to the acquiring of a home
made according to your peculiar
wishes at the end of that time you
may have a deed to the property you
occupy. Which is 'better, to rent or
to own?
This table shows how any sum from
$10 to $50 per month, paid out for
rent, amounts to in a period of from
10 to 20 years, with interest at 6
per cent per annum, compounaea
annually:
ROSE CITY HOMES RISE
NEW STRUCTURES HAVE DE
' SIGNS OF RARE BEAUTY.
Per month. 10 years.
$10.00
15.oo
20.00
25.00
30.00
85.00
40.00
45.00
60.00
.$1581.68
2ST2.52
8163.36
3954.20
4745.04
5535.88
6326.72
7117.56
7908.42
15 years.
$ 2.793. lO
4.189.64
6.586.19
. 6.982.7'i
8.379.27
9.775.82
11.172.38
12.562.93
13.965.46
20 years.
$ 4.414.26
6.621.39
8.828.52
1 1.035.65
13.242.78
lo.449.91
17.657.04
19.864.17
22.071.30
Towel Rack Holds Umbrellas.
Screw a towel rack to the side of
the house about SO Inches from the
floor. During rainy weather the um
brellas can be placed behind the rod
and will not be blown away. A shal
low pan or zinc may oe piacea De-
low to catch the drip.
Campbell-Richards Co.
1111 SA.Dr BLYD.' (OV "VIADUCT)
AUTO 315-44.
8- -
i
3
late
it
4 -. - x
$4O0
This attractive California Dungmuw rirepii;e. targe ji.mw,
room liar dv t. d floors, tapestry paper. Dutch kitchen, breakfast
alcove -a-.Mc -a wonderful view of Laurelhurst Park. Easy- terms.
This is onu' 'ie of the many honest values we have listed. We
specialize in l i urelhurst. Rose City Park and Irvlngton. Call us up.
Building Operations Active ; Dwell
ings, Costing $7000 to $10,000
Among Most Pleasing.
Building operations in Rose City
Park district have been active in win
ter months, the number of new homes
running into the hundreds. On Fif
tieth street, south of Sandy boulevard,
there have risen some pleasing houses
of good design, ranging in cost from
$7000 to $10,000.
Henry Thiele, manager of the Co
lumbia Gorge hotel, has, an. eight
room dwelling representing a $10,000
investment. Mr. Thiele says his idea
was not to put it all on the outside.
Consequently the home exhibits some
of the very latest decorative effects
and is a model of efficient household
arrangement, with particular detail
given the culinary portion.
A children's playground; has been
devised, with a gateway between the
house -and garage, leading to a yard
to be supplied with sandplle, swings
and devices for keeping the young
sters occupied and off the street.
W. E. Sears has Just completed! a
six-room dwelling with gambrel roof
effect, costing complete $10,000, at
Fiftieth and Tillamook streets. Mr.
Sears selected the site because of the
fine trees on. the lot, but the sleet
storm didi much damage to the big
firs. The house is north and east
frontage and1 adjoins the Thiele home.
Mrs. C. A. Walker and her daugh
ter, Nina Marie Walker, have, at
Hancock and Fifty-first streets, a
five-room cottage of iplaln lines but
extremely pleasing finish and deco
ration, which cost $7000. It has been
constructed with comfort and sim
plicity of management in view a
pattern for a modest home.
50 feet north, to be 1 stories, 34x50
on the ground, with eight rooms.
These dwellings are all within a
radius of one block, and similar activ
ity is noted in other parts of the Rose
City district.
APARTMENTS ARE IN DEMAND
Number of Leases Negotiated by E.
M. Ellis, According' to Report.
A heavy demand for apartment
house property in Portland, is report
ed by E. M. Ellis, who ha negotiated
a number of apartment house leases
during the present year. He considers
this demand significant of the city's
high standing and outlook as one of
the big business-centers of the west".
Mr. Ellis- reports that leases- nego
tiated by him since January 1 total
rentals aggregating more than a. half
million dollars.
Among the important apartment
buildings, leases of which were han
dled through Mr. Ellis' office, are:
The Vol Heim apartments, leased for
five years, to take effect April 1,
rentalsabout $40,000; the Glenn apart
ments, five-year lease, taking effect
April 1, rentals about $40,000; the
King Albert apartments, leased for
ten-year period, rentals $22,OO0, and
Bonnie Brae apartments, four-year
lease and sale of furnishings. (
NEW RESIDENCE IS TO RISE
Bungalow-Type House Is to Have
Plastered Exterior Walls.
Plans have been prepared by Sut
ton & Whitney for a new residence to
be erectecl for Harold Blake at East
Twenty-eighth and Carlton streets in
Eastmoreland. A large number or res
idences are to be erected in that ad
dition this spring and summer.
The Blake residence will be a bungalow-type
house ;ith plastered ex
terior walls. Abundance of window
space will be a feature. There will
be a large living room, dining room,
kitchen, breakfast room and three
bedrooms. The eite of the residence is
100 by 153 feet in area. It overlooks
I Eastmoreland golf llnKs.
TERRACES SEE ACTIVITY
, .
BIG VOLUME OF BUILDING IN
WESTOVER REPORTED.
Harry E. Eaton and wife have oc-l The cost of construction, including
cupied their new five-room house at
Fiftieth and: Hancock, a $7000 invest
ment, and are. like other home-makers
mentioned, planning lawn and
shrubbery planting when weather per
mits. W. Eisiminger has just completed on
Fiftieth between Broadway and Han
cock streets a five-room cottage with
pergola effect across the entire front
age. Seven piers, the last spanning
the driveway to the garage, give
broad lines tq the front elevation.
Interior finish 'has been given special
treatment, and the builder has just
begrun another and larger dwelling
a large garage at me
house, will be $12,000.
rear of the
Apartment House Begun.
H. J. Collings has begun building
a two-story apartment house at 612
Weidler street estimated to coBt $25,
000. Frank Pagano is the owner of
a story-and-a-half residence building
being erected at 812 Ivon street at a
cost of $5000, and Mrs. A. E. Erickson,
940 East Davis street, is having a
story-and-a-half residence building
erected at 974 East Davis street to
cost $4500.
i
There Is Good Demand for Sites,
Says Harold Jungck of
' Realty Associates.
A big volume of building activity is
predicted for Westover Terraces dur
ing the coming months by Harold
Jungck, local representative of . the
International Realty assiciates. Al
ready a. number of new residences are
under construction and there is a
good demand for building sites, Mr.
Jungck reported.
i Residences now under construction
include those for F. H. Ransom, F. O.
Downing, W. B. Layton, M. Simon, L.
Endicott, J. Lee, I. Withycombe and
H. Sprague.
. The residence of Mr. Ransom has a
beautiful site on Shenandoah terrace.
Simplicity of design is one of the out
standing features. The entrance to
the built-in garage will be treated
like a porch. A. E. Doyle is the archi
tect for the structure and McHolland
Bros, the builders.
' Among those who have purchased
lots and are planning to build in the
near future are: Mr. and Mrs. George
T. Gerlinger on Westover road, Mr.
and Mrs. Walter Gadsby on Cumber
land road, Mr. and Mrs. A. E. Holmes
on Westover road. Mr. and Mrs. M.
Home Beautiful Exposition
OPENS TOMORROW
ENDS SATURDAY NIGHT
Free chances on a building lot.
Free lectures on building problems,
Free prizes offered by exhibitors.
And, to
Admission
Free
Visit the exposition long and often. You
will find it fascinating, instructive and
profitable.
PORTLAND REALTY
BOARD
O CXfi
M. 'U"S"
OPEN DAILY
FROM
10 A. M. to 10:30 P,
Page on Westover road,- Mr. and Mrs.
S. L. Eddy on Westover road, Mr. and
Mrs. J. A. Prouty on Westover road,
Mrs. Ward Bowles on Albemarle ter
race, Mr. and Mrs. Sam Luders on Al
bemarle terrace, Dr. and Mrs. Ralph
F. Davis on Cumberland road, Mr.
and Mrs. William D. Stubbs on Cul
pepper terrace, Mr. and, Mrs. Winthrop
A. Hammond on Culpepper terrace,
Mr. and Mrs. Franklin A. Freeman oh
Culpepper terrace. Dr. and Mrs. Irv
ing M. Lupton on Culpepper terrace,
Dr. and Mrs. F. M. Brooks on Albe
marle terrace, Mr. and Mrs. K. F.
Prael on Cumberland . road and Dr.
and Mrs. T. H. Coffen on Shenandoah
terrace.
7 NEW RESIDENCES BEGUN
Ground Breaking . Announced by
Matot Construction Company. ,
The Matot Construction ocmpany, a
new building concern with offices in
the Henry building, announced last
week that it was breaking ground for
seven new residence buildings, be
sides 27 which it has under construc
tion. The houses all range about
$6000. contract price,wand are for O.
Colistro, in Ladd's addition; Mrs.
Helen Miller Senn, 1291 Division
street; W. P. Sartain in Laurelhurst;
Robert M. Diller, 1000 East Everett
street, and L. L. Daubenspeck, 351
East Twenty-sixth street, and two
others.
The Matot company has been build
ing a few of the new duplex apart
ment bungalows, a new type of double
dwelling lately appearing in Portland,
and now has four of these under con
struction. The company has recently
taken additional office space.
Pan-Lifter Prevents Burns.
' Burns are largely eliminated hv th
pan lifter a device with a strong;
handle that slips Into place on th
rim of a hot pan and hangs on until
it Is conveyed to a place of safety.
The corn slitter slides a perforated
surface over the ear of corn and pries
loose the kernels with Its saw teeth
set Just beside the apertures. An
other protection from burns is the
percolator handle shield. It slips into
place at the bottom of the coffeepot
handle and absorbs the heat. When
coffee is ready the shield Is slipped
off and the handle Is found cool to
the touch.
Every Real Home
Has Boos
COMTE & KOHLMAN
Largest Lot and Acreage Subdivision Sellers in
Portland
' 2500 Lots and Acre Tracts for Sale
We are exclusive selling agents f orthef ollowing additions :
Marking Acres Plympton Acres Glenada
Fallow Acres ' Gates Acres West Portland Park
Community Acres Mentone' Sharp's Addition
Meyermead Acres White City Park
We specialize in the sale of lots and larger tracts" just outside of -the
city limits. Bull Run water, electricity and telephone service
are available in practically all of our subdivisions. Buy in any of
our additions and you'll have no city taxes or assessments to pay,
neither will you be required to secure building or other permits.
EASY MONTHLY PAYMENTS
We have several hundred lots to sell on payments of Five Dollars
or more monthly. On large tracts pay Ten Dollars or more monthly.
Over 1500 Families
to whom we have sold lots and tracts during the past year are
now living in their own homes and paying for them with the
same amount of money paid for rent. Ten Dollars will start you
toward the goal of gowning your own home. ; See us today.
COMTE & KOHLMAN, 418-20-22 Spaulding Bldg.
PHONE BROADWAY 6550
Tir I
i
The New Stratford Model in
Walnut or Mahogany $310
$30 Cash, $5.00 a Week
"No Interest" f
This new Stratford model, which may be had in either
walnut or mahogany, has all the exclusive features
which have made the Brunswick one of the leading
phonographs of the world.
Victor Console Model at
$160, $200 and $250
Easy Terms
, New Victor Records for April
i "
bLIlllllllllllllillllllllll
HI
I X-H-UfcM III! 1
iiiiiiiiiiiiiimimiiii
These Books Will Be Found Particularly Useful
i in the Home i
Make Your Home Beautiful
With Appropriate Silver
For your inspection we
have on display at The
Home Beautiful Exposi
tion the "Hostess" Silver
Service. We will be glad
to meet you there.
STAPLES the Jeweler
Optometrists Opticians
266 Morrison Street, Portland, Oregon
The Hnalnn Cook Book, by
Fannie M. Farmer $2.50
The F'noyt'lopaedia of Ktl-
durltr, by Kmily Holt...fl.SO
Official Rules of Card
(,amrn 33
Rand - MclVally's Complete
Atlas S3.50
The Care and Keedlns; of
Children, by Emily Holt..I.SS
The Rnxy Woman's Garden
Book, by Ida D. Bennett.. 2.oo
Kat and Be Healthy, by Dr.
Virgil MacMickle SJ.25
Oresron, Her Hlntory, Her
Mtrral urr. Her (.rent
Men, by John B. Horner.. 3
The Interns
Dictionary
lonnl
SJS..OA
lie Book of (ir and
lirll, by Theresa li.
tieister Sl.-L".
U'rlaht Control,
Christian
by Eunrne
S2.00
the w International Kn
ryclopaedLa Crpe on Ap
plication I.
1 THE HOME BUILDERS' PLAN BOOKS 1
5 We have a large assortment of plan books for prospective home E
E builders and invite your inspection. (Balcony Floor.) E
I The J. K. Gill Co. I
Third and Alder Streets E
imiiiiiiimiiimi in iiihii mi iiiitiiiiiiiiiiiiniir;
UNIVERSITY BRAND
(A Mark of Quality)
RED CEDAR SHINGLES
52" EXTRA CLEARS
62" EXTRA STAR A
62" STANDARD "A"
STAR
TWO MILLS
North Portland
Milwaukie
LB.
Prompt delivery to all parts of city.
PHONE MAIN 7 53 7
Menefee Lumber Company I
726 N. W. Bank Bldg., Portland, Or.