6
THE 5 OREGON SUNDAY JOURNAL, PORTLAND. SUNDAY MORNING, DECEMBER . 13. 1903.
TONE HOLDS
If REALTY
" Iff S ; , -,;H .f tvon'm
I a 111
h ,: I y L ;. fed ; I v
- J- . . - -
The upper engraving Is the residence of H. M. Haller, East Twenty-first and Schuyler.
' the residence of W. J. Zimmerman, East Twenty-second and Weidler.
realty again proves
its Absolute safety
Now York Herald Says Increase in Value Is More Than
r Produet of "World's Gold Mines Cbioparison
With the Slump in Stocks and Bonds.
' From all parts of the country, fropi
tbe Allantlc to tbe Pacific, the great
laVes to the gulf, come reports of utv
usual . activity in the real estate mar
ket. So strong and safe a security has
real estate proved itself that it com
mands the confidence of the small as
well as the large investor more thn
ever.
The eyes of the financial and invest
ment world are again turning to real
property as the only absolutely safe
Investment, as the only way to invest
money which in the long run is sure
to yield a good return both In the aver
age rental and in the enhancement In
values. During the money stringency
that set in 14 months ago, every other
class of security suffered. Owners of
stock and bonds were paying exorbitant
interest rates trying to protect their
Investments. In fact distress wa gen
eral and in some lines acute, except
among owners of real property.
Even la New York City, the world's
center in the speculation in stocks and
Donas, u is said that the great finan-
c'al
mstitutions are investing their
holdings in real estate more largely than
ever. In the New York Herald of last
Sunday this feature of the financial sit
uation is touched upon as follows:
"Heal estate has entered again upon
one of those cycles of advancing values
that in the steady march of progress
j-jeld greater profits in the aggregate
WOULD SELL CITY
HALL ON T
Wealthy Frisco Men Offer to
Build 3Innicipal Home on
' the Insallmeiit Plan.
Wealthy members of the San Fran
Cisco Realty Board have made a propo
sition to the municipal ahorittes of
the Bay city to build a $WiOO.O0O city
hall and sell )t lo the city on the in
stallment plan, the Installments to ex
tend over a period of 20 years. At a
meeting of the board held last week. A.
J. Rich, chairman of the committee on
city halt outlined the details of the
scheme and it met with the unanimous
approval of the members.
In presenting the report of the com
mittee. Mr. Oiieh said that the first
proposition is to demolish the present
building and to use most of the founda
tion for the new one. A building 175
f eet . high with a facade of 800 feet
and a wing of like dimensions could b
built with ample capacity for all the
aemanas or the city department and
courts, while there -would be an Im
mense auditorium with a seating ca
paclty almost as big aa the New Voik
auditorium. The totsl cost of bui'r?
tng and f umlshlsgs would be $,5,000.
00. ,,-He added that men. with the
money are ready to build as soon as
supervisors would arrange term,
..iif'1 ture wera-satisfactorily
Reading the report, he said the com
mittee has concluded the problem pre
sents no difficulties, aria th Krai Es
tate Board could suggest , the plan to
tft ''r''vlsors. The city is now pa.
1.g W 000 rents per annum. With a
ri,oU'pl water supply in trie wit, tht.
limit if bonded Iml.-l.t dns would b
Xi'vt if a city hall is to V. hulli
ti
r.
'? the 'raiding of the
com
increase of valuations than the total
output of the gold mines of the world.
"with the restoration of confidence
manifested in all channels of commerce
and industry, savings banks . and trust
companies, insurance companies and
other financial institutions, as well as
larger estates and individuals, have
turned to real estate and real estate
mortgages with more confidence than
ever as a safe Investment.
"This return of confidence and capi
tal is manifested in a strong demand
for property In the business and pri
vate residence sections for occupation
and in the new apartment house dis
tricts 'or large plots for immediate im
provement. "Not many realize that in the expan
sion of the retail district, Thlrtf avenue
and I'nion street, with finished and in
complete structures, have contributed in
the past six months upwards of 125
stores available for merchants who pay
variously from $75 to $250 and $300 per
month. Over 90 per cent of these new
storerooms are either occupied or pre
empted, and Increasing traffic means
that the balance will be speedily ab
sorbed. This record of extraordinary
demand and occupation of additional
store space reflects not alone the merit
of the streets mentioned for retail busi
ness, but effectively illustrates the gen
eral progress of the city. In the out
lying sections, the growth has been so
rapid that scores of small merchants
have found profitable openings in va
rious lines and outside luiln pnti
are gradually assuming importance."
mittee report. Mr. Rich Introduced a
suggestive sketch of the exterior of a
monumental building of seven stories
the Interior of which would be after
the most aDDroved ideas of tnnrinrn nf.
fice buildings, while the exterior might
niitrn'u me jniroaucuon or a
classic front with columns running
through - several stories between the
windows, thus giving the monumental
effect in most pronounced form, while
taking away from the sense of height.
In the disastrous fire of two and
one half years ago, San Francisco's
magnificent city hall, one of the most
Imposing structures of Its kind In the
I'nlted States, was totally destroyed.
In the work of rehabilitating the city,
the bonded debt has been so enor
mously increased that all Idea of build
ing another city hall from the pro
ceeds cf sale of bondti was abandoned
But the civic pride and lovaltv of th
wealthv realty brokers of the' rif-,- 1
such that they will wllllnglv Shoulder
the burden, making it reasonably- cer
tain that within two years 8an "Fran
clsio will again have one of the finest
city halls In the country.
MANY PORTLAND MEN"
BUY CITY PROPERTY
' i
The following sales of realty wera
closed last week through the agencv c
E. J. Daly: A quarter block on" the
southwest corner or Fourteenth and I
Overton streets purchased by a local
Investor for -$25.6t6. The site wasi
formerly owned bv I E. Kern and is I
occupied by four cottages; one and ono
half lots at the head of Lovejoy street.
to W. B. Peacock. The property was
a part of tne Barker estate and was
sold for $8250.
To- H. W. Stone by Rev. Earl M.
Wilbur, a lot ort Willamette Heights
fro $1500. Mr. Daly and W. O. Cox
have purchased from the Oregon Iron
and Steel. -company- a river, front lot
containing about two aerea opposite the
Rock Island club. The - tract has a
river frontage of 300 feet.'
ARLINGTON CLUB IS
PLANNING NEW HOME
i -
Architects .Whldden and Lewis ra
getting .uo ths design for tba new club-
' ' ...... s . -v
The lower one is
house for 'the Arlington club to be
erected on the half block facing the
park blocks on Salmon street. Pre
liminary sketches of the proposed struc
ture will be submitted to the board of
governors of the club and the design
selected from these. It is proposed to
limit the cost of the building to $150,
000, although the cost may exceed that
sum by $25,000, and still be within the
$2i,000 bond issue which was author
ised to pay for tbe site and the cost
of the clubhouse.
The bond issue is practically all sub
scribed, the few remaining will be
signed for by the time the plans of the
new Dunaing are accepted.
THOMSON WILL
STAY Hi SEATTLE
Seattle Is to have the services for an
other term of its present accomplished
city engineer, R. H. Thomson, who has
served the Puget sound city In that ca
pacity for the past 17 years. Mr.
Thomson had been considering severs!
flattering offers from other cities and
had indicated his Intention of accepting
one of them when the Seattle city coun
cil unanimously added 50 per cent to
his present salary of $5000, thus giving
him $7500 a year, which Is the best
salary paid any engineer In the United
States by a cltv In Seattle's class. Mr.
Thomson promptly signified his Inten
tion of remaining with the city for an
other four years. The residents af
Seattle are proud of their city engineer
and almost to a man support him In the
tremendous and costly Improvements
that he has Inaugurated there.
She Got One.
Gustav was desirous of advancing In
the world. One morning he accosted
his employer who happened to be
drowsy and Irritable and asked:
"Mr. Cheery, how can 1 get ahead?"
"I don't know," growled the old man
as he tenderly clasped his aching head,
"go and ask Salome."
In a new Alpine hotel, advertised as
a rest cure, all the tableware is made
of papier macho so that the guests will
not be annoyed by the clatter.
(hO HLJlr3nP: I
k Hp j. -.pf ... njf' 21!
Above is the new residence of Mr. and M rs., Frederick C. Austen at Jackeon and Chapman streets, 'Portland
eights.: Recently1 Mr. and Mrs". Austen were given a surprise party and a houseWarm.in'g by' several ,'of -their
friends. The party consisted of: Mr. and Mrs. Lewis M. Head,; Mr.andiMrs.7w. ,MJ Kapens,?Mr. and
-Mr. l!arry T. Clark Mr. and Mrs. E. H. Mattern, Mr. and Mrs. C. H. l,evls, fc Mr.", and 4-,' Mrs. James ;S.
.Tyler and Mr. and Mfs.; w. ?WyiM"Johnsoa.:- V - - '-i-.-r
Many Investors Hare Money
for Portland Property on
Safe Investment Basis-
One Large Deal on the
East Side.
Conditions prevailing in the realty
market during the past week - wera
somewhat above normal. More than
the usual number of sales were made,
but with one exception none of them
were large , enough to excite general
interest. Portland never, seemed to
have so much money available for in
vestment In real property as now, the
result being that brokers have no
trouoie in disposing of anything that
s ai an attractive in price. Any
" ,11. 1. ... 1 1 U I ' L 1 ' V L UUI
prices can undoubtedly find buyers.
wne ining, nowever. property owners
must bear in mind, and that is that
firlces cannot be forced to an unnatural
eve! In times like these. There is no
wildly speculative movement on. In
vestors are ready to buy anything that
promises a fair return on the money,
in the way of Income, or that promises
a reasonable advance In value; but they,
are not ready to buy at prices that dis
counts the future five or ten years.
It is therefore well to remember that
any concerted effort to force prices
skyward will surely bring on practical
ly a complete cessation of buying.
Baying Is Conservative.
"Conservative investing" aptly de
scribes the heglthy movement now on
In Portland property. This mean that
property is being bought and sJfil on
Its earning capacity. Owners must
bear this fact In mind and not force
prices beyond those that a healthy
renting market can maintain.
Transfers of realty filed for record
last week reached a total of over $400.
000. The character of property de
scribed in the week's transfers empha
sized the broadening tendency of the
market, in that the transactions re
ported Included central business sites,
holdings in the two principal ware
house districts, high priced residence
lots, suburban lots and acreage. While
no spectacular advances In values were
shown In any of the week's deals,
prices are being well maintained and
buyers manifest a disposition to be con
tent with- smaller profits than hereto
fore. The largest single transaction re
ported last week was that of Gustav
Frlewald, president of the Star Brewery
of Vancouver, Washington, who pur
chased from the Ladd estate the block
bounded by Kast First, East Second,
East Oak and East Stark streets, for
$61,000. This Is the most Important
transfer of east side realty made in
several months.
Plans Cold Storags Plant.
It is understood that Mr. Frlewald
contemplates building an Immense cold
storage plant to cover the entire block.
It is also surmised that the Portland
depot for the distribution of the Star
Brewery s product will be transferred
to the proposed new building. Another
fair-sized sale in the same vicinity,
which has Just come to light, is that
of a quarter block on the southwest
corner of East Stark apa East First
streets for $15,000. This property was
purchased by Edward Cassell and J. R.
Rogers from the Ladd estate.
H. J. Meyer and S. Raxworthy have
closed a deal for a 60 by 100 foot let,
occupied by three nmall cottages, on the
northwest comer of Nineteenth and
Upshur streets. The property formerly
belonged to William Dinneen and was
sold for $10,500. This is the best price
so - far paid for a single lot in that
part of the North Portland warehouse
district.
Many Bales Mads,
H. F. Hudson has closed a deal with
F. J. Richardson for a house and lot
on Northrup street, between Twenty
fourth and Twenty-fifth streets. The
consideration involved in the sale was
$12,000.
Julius Heilborn has purchased from
Mrs. Barbara B.- Dal ton a fractional
lot on Hoyt street, between Tenth and
Eleventh streets; consideration, 1 11.000.
L. L. Matlock has purchased from
P. H. Schulderman a quarter block on
the southwest corner of Holladay ave
nue and Adams street for $18,000. This
property is located near the east ap
proach to the steel bridge.
E. J. Daly has sold to- Charles OanM
three lots In Hlllvlew addition, located to
the south or Portland Heights, for
$6,000.
Albert Salstrand has old a 29-acre
tract in section 21. township 1 south,
range 4 east, to Gustav W. Peterson
for $5,000.
C. T. Whitney has sold to Mrs. Mary
E. Rosensteln his residence nroDertv
on Thurman street, Willamette Heights,
for $6,500.
Besldenc Xiots Sold.
The quarter block on the northwest
corner or Twenty-nrst and Johnson
streets has been purchased by Mrs.
Margery A. McQueen from Charlotte
Taber Darling and associates for $6,533. ,
William Jones has purchased from 1
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ST! wMWpTT- ...-s--JW u , - J J,
' " Residence of J. Ai. Dundore, 75 East 'Yamhill Street.
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Residence of F.
the Security Savings & Trust company,
trustee, lots 1 and 2 and a 15-foot strip
of lot 6 in fractional block "H." Caru-
ther's addition, for $10,000. This hom
ing Is on the northwest corner of Grant
and Water streets.
J. Schleland has sold to Mrs. Mary
Rlstiar a house and lot on the south
west corner of Eleventh and Hall streets
for $7,000.
The house and lot on the southwest
corner of Russell street and Flint ave
nue, llnner Alblna. has been purchased
by John Keating from John Blled for
6.000,
E. E. Padock and associates have pur
chased an improved fractional lot on
the northwest corner of Stanton and
rvmmrrliil streets. The Dronertv was
sold bv F. F. Williams, the owner, for
la enn
A j Dillon has closed a deal with
George Stout for a lot and cottage in
Woodlawn; consideration, $3,000.
The nroDertv on the northwest cor
Tier n f Orand avenue and Iron street,
consisting of two vacant lots, has been
purchased by Lulgo Bortand from
George Prosser for $8,ooo.
H. Janicke has purchased from U.
Shlolkoff a 60-foot lot on Arthur street
between Second and Third streets;
consideration, $2,900.
Norby-Craven Investment company
has sold to Mrs. Ida Alexander a- resi
dence lot on East Madison street, be
tween East Fortieth and East Forty-
first streets, for Z.8Zt.
Ellis G. Hughes has sold two lots
on East Twentieth street, between
Knott and Brazee, to Emery H. Jfowre
fnr 12 S00.
Joseph T. Ennls has sold to Hal He
E. Ostrando a house and lot in Vernon;
consideration. IJ.ZUU.
Otto & Harkson report 1 the sale of
650 acres in Benton county to Harold
Johnson for Il.ooo.
The same firm has Just sold to L.
Rasmussen 10' acres near Clackamas
station for $3,500. " "
The German colonial authorities are
considering the establishment of a for
est reserve' In the Cameroons In order
that the rare fauna of the tropics may
be preserved rrom extinction.
A machine has been designed to show
the actual working time of any o all
machines in a shop so as to give an
" 'irate record Of tne cost or proauc
turn. . .
--- '''
F. Williams, East Twenty-fifth and
STEPHEN S. WISE STIRS
PEOPLE OF NEW YORK
Former Portland Rabbi Wakes Metropolis of Nation by
Fierce Attack on Tammany Boss Holds the Su
preme Court Justices Up to Shame.
Stephen S. Wise, former rabbi of the
Temple Beth Israel, of this city, recent
ly caused the nation to sit up agape at
his fearless strictures on seven justices
of the supreme courts of New York,
who had attended a dinner given by
Richard Croker, the old leader of Tam
many Hall. The attack of Rabbi Wise
stirred New York to Its depths, and
made the young Jew the most talked of
man in the city. It caused a petulant
outburst from the old political bosa,
which only added intensity to the ex
citement. It brought forth widespread
newspaper comment universally in favor
of the rabbi. In commenting on the in
cldent, the New York World says:
"Who is this man this Rabbi Wise
who has with a few JIu Jitsu vocai
twists turned the Honorable Richard
Croker upside down, figuratively speak
ing r
"Many a New Yorker has asked this
question within the past few days; since
tne militant Dr. wise, in an aaaress Do-
fore the Ethical-Social league at the
Hotel Martha Washington last Tuesday
nigbt, made remarKs about Mr. kroner.
Dr. Wise said the presence of seven
supreme court justices at a banquet at
Sherry s given . in honor of the Old
Leader.' and attended by the 'un
speakable . Murnhy." made the night of
the banquet New York's .'night of
shame.'
Mr. Wise also said that Croker was
an unscrupulous man, that he was a sin
and a shame and a few other things.
It Is evident Mr. croker does not
know who Dr. Wise Is.
'He. is a harrow, old man,' said .Mr.
Prnkpr.
'He is a notoriety seeicer,- aaas tne
Tammany patriarch.
"But Mr.' Croker- does not know.
Rahht Stephen 8. Wise Is neither a nar
row man. nor -an '-old man. menner ib
he a notoriety. seeker. ... ' ,
H. -a, a hnrn In Buda-Pesth In 1872.
He refused, in 1805. the biggest prize
that any rabbi in America could hope
to attain as far as material things go
whn i.n declined to become the rabbi
of the Temple Emanu-El in this eity
because he would not -consent 10 oe
muzzled. It is the richest Jewish con
gregation in the world. It . numbers
among its members men whose fame Is
worldwide. The rabbi's salary is $10.
000, but that is only an Incident. The
lucky man who secures that charge need
never want for anything that money
can buy. His Influence is vast. He is,
to make an Instructive comparison, the
Jewish archbishop of America. That
was certainly a big prize for a young
man not yet turned 84." .
Ho the trustees investigated and con
cluded that Rabbi Wise was a ' 'f ire-
brand " and he became the unsalaried
Head ' or a " tree synagogue. ,
, " 'You can't afford to pay me that
much salary,' said Dr. Wise. 'If you
can raise tne money ae vote n io an
extension of the worn or tne cnurcn.
I'll aret alonar somehow. I am young
and strong and am not in need.'
"'And he .does get along by writing
and lecturing. He doesn't make any thing
like the. money he would have as rabbi
of the Temple Emanu-El, but he feels
that the gold and silver and gems of
freedom are worth more to -him than
purple and line linen.
Quarrel Xs Wot with Croker.
i
"I have no quarrel ' with individuals,'
said Dr. Wisa a few days ago; 'par.
tlcularly. I have no quarrel wltn Mr.
Croker. It isn't he that is to blame to
day, -v I am criticising the justices of
the supreme court for the example they
set by fawning at the feet of a man
by exalting a man. of the, character
and record and antecedents Of Richard
x "Rabbi Wise .is . forceful and obso
lutely fearless. 'He la a. fighter, not In
the sense of physical contest although
he could but no a . 'scran'' if hla
build may be taken' as an Indication
of his prowess but in the sense tha
Hawthorne Avenue.
he will fight for the right, for "big
things.' as an admirer put It yesterday
in discussing and describing the char
acteristics of this young man.
His pesronallty.
"Ever since- he entered the pulpit
Wise has made it a point to say what
he thought. He hasn't been awed by
gold nor power and influence." The re
port mentions several incidents of Dr.
Wise's work In Portland and his at
tacks on lawbreakers and vice and con
cludes: "Dr. Wise Is a great believer and
constant advocate ef the political activ
ity of the pulpit. He believes that
ministers should attack wrong in the
body politic if they see wrong.
"Dr. Wise Is a hard worker. He
is an omnivorous reader, a forceful
writer and an eloquent speaker. He
keeps three stenographers busy in his
little home on Sixty-eighth street His
wife looks after and sorts his mall
daily. She is a charming woman, quick,
keen. Jovial and very proud of her
distinguished husband.
"He Is built like an athlete, broad of
shoulder, straight, square jawed, and
brawny. His eyes are a deep gray that
seem to turn black when he is angered.
His ample head Is surmounted by a
veritable mop of black hair that will
not stay put. His face Is smooth and
his forehead high. In manner he Is
rather nerv6us, but always affable and
cordial. His father, was a rabbi and
his grandfather was a rabbi, and he
hopes that-his son will be a rabbi. He
was' married eight years ago to Louise
Waterman of this city, and moved very
soon thereafter to Oregon. .
"The present free synagogue started
m'emberless. Now there are 400 In the
congregation. In addition to that there
Is a branch at Clinton Hall, Clintsn and
Grand streets, where every- Friday
night; Dr. Wise addresses six or seven
hundred young men, and women. He
visits the hospitals and the jails and
tries to care for the physical and the
moral invalids as well. '
"This Is Dr. Wise, the njan that Rich
ard Croker says Is 'old and narrow.'"
Alabama produced 1256.88 ounces of
gold and 439 ounces of silver last year,
of a total value of $26,272
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