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BIG DEALS III
REALTY
Last Week's Transfers Larg
est for Similar Period
In Three Months.
RACE TRACK SALE
BfiST TRANSACTION
Portland A Seattle Railway Com-
pany Secures Title to Valuable
Block, Paying $130,000 Portland
Trust Company's Good Purchase.
More bis deals la Portland property
srr conaummatfcd last week than for
any like period In the past three months.
Not all of the transactions reported
Since last Monday were new deals, some
pt them having been In process of ne
gotiation for a month or more, but all
properly belong to the week's business.
The best sale and one of the largest
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, i., 'gSS PROPOSED HOTEL AT BAYOCEAN PARK, TILLAMOOK. - j
mads for many weeks past was that
of the Irving-ton race track property,
which was taken over under an old
option by the Multnomah Fair associa
tion for 1160,000. This property, which
contains about SO acres, has been un
der a five-year lease to tne fair associa
tion which contained a clause giving
the lessees the right to purchase during
the life of the lease at the stated price.
Th owners of the property, the Irving
Real Estate company and ElUabetn
Ryan, were tendered the purchase money
some months ago and refused it. Suit
was brought to compel specific perform
ance of the contract The final result
was that the owners conveyed the prop
erty under the purchase option clause
in tne oia tease ana ui sun was dis
missed The property Is said to be worth not
less than 400,000, or nearly three times
the purchase price.
Ssilway Company Bays.
Another big sale brought to a close
during the week was that of the block
bounded by Johnson, Kearney. Ninth
and Tenth streets, which was taken
over by the Portland 4 Seattle Railway
company. This property Is the site of
the Columbia Engineerings works' plant
and was sold by that concern for $180,
000. Just what use the railway com
pany proposes to make of this block
is not known. It owns one other block
In the same tier of blocks running north
and south, but it is removed several
blocks from the one lust purchased.
The Columbia Engineering woms win
move Its nlant to Linnton, where it
owns a 180-acre tract with a valuable
river frontage. The plant will be great
ly enlarged and Improved when moved
to the new site.
The uurchase by the Portland Trust
company of the business house and lot
at the northwest corner of Union ave
nue and East Morrison street was an
important transaction. The property be
longed to Fiiedlander & Daly and was
THB OREGO!! SUNDAY ' JOURNAli PORTLAND, SUNDAY VMORNINO; AUGUST 4.
sold for 140.000. It Is said to bring
In a good return on the purchase price,
probably about 7 per cent net.
Talnes Increased.
No part of the city has experienced
such phenomenal rises In realty values
as the East Morrison street and Orand
avenue business districts. Two years
ago the property Just secured by the
Portland Trust company for $40,000
would have been thou eh t hlah at $16.-
000. This is but a fair sample of the
change that has taken place in tne en
tire east side business district.
An unusual amount of activity In the
North Portland warehouse district has
hun In evidence for several days past.
D. B. Mackle sold for Dr. 0. E. Watts
the half block on the south side of
Irving street, between Fourteenth and
Fifteenth to Meier St Frank for $42,600.
The supposition is that the property
was purchased for warehouse purposes.
Misses Marie and Grace Rosslter have
purchased from Emily Beckman the
series of flats at the northeast comer
of Eighteenth and Ollsan streets. The
price is understood to have been In the
neighborhood of $18,000.
Much Home Buying.
O. W. Holcomb who purchased a
quarter block on Irving and Fifteenth
streets about six weeks ago for $20,000,
has resold it to Mathlas Wilhelm. a
merchant of Monroe, Oregon, for $25,-,,
uuu.
Another Important purchase closed
during the week was that of one and
one half acres adjoining the site of the
Portland Furniture Manufacturing com
pany In South Portland, bought by that
concern for extension purposes. The
property belonged to Fred Jennings and
was sold for $8,060.
Sales of residences and residence sites
have been numerous In all sections of
the city. The demand for desirable
homes is much greater than the local
agencies can supply.
FINE HOSTELRY
BAYOCEAN
Ideal Location on Tillamook
Bay Being Rapidly Trans
formed Into Resort.
PLANS FOR HOTEL
NOW BEING DRAWN
Six-Story Frame Building With 800
Guest Rooms to Cost $250,000
Will Be Completed for Opening
of 1008 Summer Season.
Bayocean Park, the beautiful spot on
Tillamook bay, which Is being rapidly
transformed Into an Ideal summer re
sort will have, by the opening of the
1908 season, the finest beach hotel on
the Pacific ocean north of San Fran
cisco. The plans for the building are
now being drawn by a local architect,
and Mr. Chapln, of the Potter-Chapln
OLP:HINE5B J200KBlS
Realty company, the ownets of Bay
ocean Park, Is at Tillamook with a large
force of men clearing; the site for the
proposed hotel and other oontemplated
Improvements.
WUl Cost Quartsr-KUlloa.
The estimated cost of the hotel Is
$260,000. It will be of frame construc
tion, six stories In height and will rest
on a stone foundation. All the huge
filllars supporting the two-story gal
erles, extending entirely around the
court, will be of undressed native stone.
The hotel proper will have about 100
guest chambers each .provided with a
private bath, and all told, nearly 400
rooms. The main office will be 0 by
100 feet. There are to be three din
ing rooms, one 40 by 100 and two 22
by 28 each. The base of the tower,
which will be 60x70 feet will be
equipped with a hardwood floor and
used for dancing.
Court on Bay Side.
The court on the bay side of the
building will be 100x140, surrounded
on three sides by verandas 16 feet
broad. The hotel will be equipped with
elevators and other modern accessories
for comfort and convenience. The hotel
kitchen Is to be a separate building,
the upper stories of which will be used
for servants' quarters.
An ample water supply has already
been arranged for; two small mountain
streams have been filed on, a reservoir
site selected and water will be piped to
the hotel and over the entire peninsula
of Bayocean Park.
Messrs. rotter and Chanin will erect
an electric light plant and a laundry
large enough to take care of the wants
of the residents of the park In addition
to those of the hotel.
Docks will be built on at least three
points on the park side of the bay, from
which a line of boats will be run to
Bay City, or some other railway sta
tion on the east side of the bay, mak
ing every part of the peninsula ac
cessible. Pleasure craft of all kinds
will be maintained for the use of hotel
guests and cottagers. In fact It may
be said that every kind of legitimate
amusement will be provided for the
guests oi tne notei.
CAR-MAKING PANT
LATEST ENTERPRISE
Judson Company Purchases Estacada
Property to Engage in New
Manufacturing Proposition.
Among the latest new enterprises an
nounced for Estacada Is a car manu
facturlng plant. The W. H. Judson
company has purohased the Estacada
Manufacturing company's plant with
additional grounds and will put In a
I plant with a capacity equal to turning
out five finished cars per day. The
company has Increased its capital stock
to $260,000. W. H. Judson is president
and O. F. Martin is secretary.
The Estacada council has vacated
several streets In the vicinity of the
plant that the proposed Improvements
and extensions may be made. A repre
sentative of the company announced
that $26,000 would be Immediately ex
pended In extensions and enlargements.
Scheme for Economy.
Knicker Has Jones gone into
the
nmiltrv business?
Honker No: he's lust trying to raise
enough chickens to trim his wife's hats.
From two thirds to three fourths of
the exports of Japan are produced by
female labor. In tea, silk, weaving and
numerous other Industries the labor of
women Is Invariably required, while In
marine .nd mining industries it Is of no
laififlrtajcs, ... .
,1007.
BEINO TOEX OUT ATALPP
FOR IIIVESTIIIT
Hats at Eighteenth and Gli
san Taken Over by Marie
and Grace Rossiter.
Misses Marls and Grace Rosslter have
purchased from Emily Beckman the
four-series flat at the northeast corner
of Eighteenth and Ollsan streets for
$18,000. The property has a frontage
of 100 feet on Fourteenth and 60 feet on
Ollsan streets. The Improvements are
said to yield a good return on the In
vestment. Further west on Eighteenth street.
near Northrup, John McRohert has pur
chased a house and lot from Ernest
Muller for $4,000.
On Lovejoy, between Twenty-third and
Twenty-fourth streets, J. J. Haines has
purchased from Beno & Ballls a vacant
60-foot lot for $3,600.
PREPARING PLANS
TO REMODEL ARMORY
Architect Martin Working to Expend
8)15,000 to Best Advantage
Dance Floor Provided.
Architect Richard Martin Jr. is en
gaged on plans for the remodeling; of
the Armory. An appropriation of $16,-
000 has been made for the alteration
of the building and work will begin as
soon as the plans are perfected and the
contracts can be let. The changes to
be made are for the most part on the
second floor.
The larae drlllroom will be remodeled
and made an attractive place for dances
and puftllo gatherings. A reading-room,
billiard-room and gymnasium will also
be provided on tne secona rioor. ine
storeroom wnicn is now on mo btouiiu
floor will be moved to tne atuo.
MEIER & FRANK MAY
ERECT WAREHOUSE
Half Block Purchased by Firm on
Irving Street From Dr. Watts
For f 42,500,
Meier ft Frank dosed a deal with
Dr. O. E. Watts for the purchase of
a half-block on the south side of Irving
street, between Fourteenth and Fif
teenth, streets, the consideration ln
volved being $42,600. It Is understood
that the firm will soon erect a large
warehouse on the property to take the
lace of their present warerooms at
eventh and Taylor streets.
The suonosltlon is that the change is
being made for the purpose of securing
railway facilities, as the terminal com
pany will soon extend Its Fourteenth
street like further south.
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SPLENDID
ROY
AND .SECOND STS .
VISITING AGENT
COMPLIMENTARY
L. M. Grider, Realty Dealer
of Los Angeles, Told
Some Truth.
HE WAS BADLY OFF
ON HIS VALUATIONS
Splendid Comparison Made When
Statement Was Made in Los An
geles Paper That Portland Was
Best City North of Trisco.
In a recent Issue of the Los Angeles
Times Is printed an Interview with Z
M. Orlder, a prominent resident of
southern California metropolis,
just returned from a trip up the Pa
clflo coast, which extended as far north
as Juneau, Alaska Mr. Orlder spoks of
spending several days In Portland and
had many complimentary things to say
of this city, although In a number of in
stances, especially with regard to the
local real estate situation, his state
ments varied somewhat from the facts.
Portland is up to Sate.
Mr. Orider's first declaration to the
Times reporter, "I found Portland to be
the most up-to-date city between Ban
Francisco and Juneau, Alaska," stamps
him as a man of excellent Judgment
and undoubted probity.
However, when he undertakes to talk
about the prices of Portland property
he Is far from accurate. Among other
things, he says that choice business
sites on Washington. Third and Fifth
streets can be purchased for from $2,
000 to $2,600 a front foot, and that the
latter figure is the top price yet reached
by Portland business Dronertv. when, as
a matter of fact, there are a dosen cor
ners In the retail district of this olty
that would readily bring twice the
larger sum named by Mr. Orlder.
Enterprise of Portland.
Orlder called attention to the differ
ence between the Seattle and Portland
roalty markets, when In the former city
the banks had lonr since ceased to make
loans on unimproved property, wWle In
Portland money la easily obtainable to
finance any legitimate realty specula
tion. ,'
Mr. Orlder exnressed astonishment at
the fact that 60-foot lots In Portland's
swell residence district are sold right
along at from $4,000 to (7,000, when the
streets on which they front are tmnaved
and the sidewalks are largely of wood.
Exclusive Novelties.
Scotch and English woolena
DrooK ana jeveen, couch bldg.
and Washington streets. '
A considerable nronortlnn of. the trade
unions in Euronean countries orovlde
benefits for unemployed members, and
many outer organizations, sucn . aa .
friendly societies and .cooperative as
sociations, mak similar provision for
&alr members.