THE OREGON SUNDAY JOURNAL,' PORTLAND, SUNDAY- MORNING,, MARCH 6, 1910.
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.PEOPLE If,1 BUY
PfflffllYTOlD;
FRY SPECULATE 1
, IB
Indications ; Are That Hcnce-
, fortlr Purchasers o.f Real Es-i
: tate Will Be More Conserva-!
tive Some Lose Money.
M1cellanou(i biminosa in 'food' vol
ume 'win reported from tho realty
brokera1 offices during the punt week,
the main feature being purchniM of
prominent properties In the upper Mor
rlion street dletrlct by Individuals whlrh
roreshsdow arly and substantial Jm
provemnt.
Tension of the realty market Is undo
niaoiy tJghtenlnir. The effect Is beln
felt noticeably on the west side and I
the east side business sertbrn and as
result purely speculative buying Is prnc
tlclly at a standstill. On Mite other
hand. Investment buying Is more tiumer
ous in Portland today than at any Urn
auring the past two years
ujr Property to Uoli.
Tne day when -the speculator cast
bout In any direction for a bargain
on which to make a aulck turn Is fas
receding In Portland and his place
being taken severs! times over by men
with means who want to buy something
to hold for all time to come and from
which they can bo reasonably certain Of
receiving a good -and satisfactory 'In
come. -
Expressed differently, realty buying
In Portland Js fast getting down to i
solid and Substantial basis. This condl
tlon is to be 1 expected when a, city
reaches that stage In Its development
were Its future Is assurml. The fact
tfcat Portland has reached this metro-
jxitltan state means that In future prop
erty buying here wljl le done along
conservative lines.
Speculation Bayer Inactive.
This does not mean of course that
those who bought wildly snd recklessly
In the past lout money, for It Is known
of all men that they are the very people
Who made money, but It does mean that
property has reached that point In value
and will become so much more valuable
that holders are loath to turn loose ex
cept mat they get more than its pres
ent value and for this reason the specn
latlve buyer cannot be so active as in
the past.
It Is now next to Impossible to ac
quire anything In the business center.
Holders simply refuse' to quote prices.
One connequence of this attitude on the
part of owners of Inside property Is
that there is going to be la the near
future, In fact It Is tjow on. a move
, mJnt to Improve sites," removed several
blocks from the business center of the
city and to convert, the extreme ends of
the business thoroughfares tnto new
business centers. This movement may
be seen In the whole upper Washington
street district, on Alder, above Seventh,
and on Morrison as far out as Four
teenth street.
Movement '.n Orand Avenue.
Among the transactions of the week
affecting the east side business district
was the unusual movement In Grand
avenue property. Throughout the past
two months there has been a steady
movement In property on this thorough
fare between East Morrison and Kast
Burnslde, and with every sale reported
came the announcement that the buyer
was an investment purchaser and would
Immediately Improve his newly acquired
holding.
Tv.'o pieces of Grand avenue property
changed hRnds last week, one In the vi
cinity of Kast Ankeny and another far
ther soutn. In both Instances the
broker making the saJe declined for the
present to give the name of the pur
chaser or the location of the piece. But
enough Is known to make the assertion
safe that both buyers will Improve their
holdings within the year.
During the previous week Woodard &
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1
III CATHEDRA
L
Will Be Held to Raise Funds for
Construction of New House
of Worship.
Elegant new residence of Eugene Blaster, recently completed
Seventeenth
Wasco streets.
Clarke, the. west aids druggists, took ti
tle to a larre Grand avenue corner and
Immediately announced that they will
huiUWhe largest business house on the
east side on the property, uuring ino
same period the owner of a Oram! ava-
nuo business corner commissioned a lo
cal architect to get up a dcslgri for
four story business house.
Three weeks ago an east side hardware
establishment acquired a business site
with a front on both Grand avenue and
Kast Washington street and announced
that the property would be Improved
within the next few months. These
together with the three buildings re
cently erected on Grand avenue by W,
Morgan and two structures, plans
for which are now helng drawn that ere
b erected In the vicinity of Fast
Pine and East Anken streets, inase
UD a volume -or new rnnnuurunn inm
hai not been eouallod on any other Port
and street except two or three of the
w.Bt aide main thoroughfares, since the
remendnus unbuilding of the city set
n four years ago.
West Bide Deals.
On. the west side two Important deals
n upper Morrison sireei property wrm
losed during the week and It Is known
that both sites will shortly be Improved
with expensive, high class buildings.
The larger of these deals Involved the
full lot at the northwest corner of Hlx-
eenth and Morrison, which was pur-
hased by the Park Investment company
from I. N. Fleisohner and associates ror
55.000. This .lot waa taken over by
Mr.Flelschner and co-owners, less than
months ago for a consideration or
but $32,600. The increase in vanre
shown In that time by the sale is nearly
0 per cent, which, however, ts no great-
gain than property tn su tne upper
alHe d strlcts nas maae in me
same ncrlod.
Th Phi-It Investment company Is com
posed by the following local capitalists:
W 1 Krewster. Robert Strong, Freder
ick H. Strong and F. G. Sykes.
Will Build This Tear.
While making no definite statement
as to the character of the Improvement
m ho rn on the. DroDerty. one of the
new owners stated that it will be un
doubtedly built upon some time during
the present year.
Aether tmnortant sale In the same
district reported last week was that of
the lot at the northwest corner of Flf
tnih and Morrison which was pur
chased by H. H. Jones and W. II. trina-
staff for 140.000. This lot was optioned
Just JI0 days sen to J. O. Elrod for
$37,600,' Mr. Klrod transferring his op
tlon to the new owners and taking the
proni.
The property has a frontage on Mor
rison street of 100 ' feet, and Is known
as the De Penning homestead. As an
Indication of the esteem In which tipper
Morrison street holdings is held by
prospective buyers Messrs. Jones A
Grlndstaff refused an offec of J3000
profit on their transaction before the
sale wax closed..-
TRACT TO BE NAMED
LAWNDALE ADDITION
The Associated Development com
pany closed a deal last Tuesday with
the Columbia Trust company for the
purchase of the ;fi-acre holding for
merly belonging to the SamueJ D. Smith
heirs and located in the Rose City Park
district adjoining the Country club.
The consideration Involved was 141,000,
or $1600 an acre.
O. I-. Ferris, vice-president of the
Columbia Trust company, purchased
the property in February for $1400 an
acre. It is announced that the acrenm
will be platted and named Iawndale
addition. It Is estimated thst It will
make about 175 lots. Arrangements
have been made with the Columbia
Trust company to act as selling agents.
KB DOING
1
N 1
G. W. Priest Alone Invests
$50,000 in Buildings in the
Suburb.
Rossmere and the residence additions
In the Immediate vicinity aro experienc
ing a remarkable building development
at this time. There are under conatriic-
tlon and contracted for no lean tlmn
50 up to date attractive cottages In the
district north of Sandy Kond and be
tween Kast Thirtieth and Fast Fortieth
streets. Many of these houses aro of
the most modern type and would be a
distinct credit to the nearer In sections
where ordinarily the handsomest homes
are found.
G. W. Priest, who recently purchased
a large number of lots In Rossmere, has
already begun a series of houses there
which when completed will bring Ills,
Investments In that district clone to
$50,000. Last week Mr. Priest took out
permits for four buildings which he
will erect on his Rossmere property.
Two of the buildings will occupy lots
on East Thirty-seventh between. Thomp- j
son and Tillamook and two others on
Kast Forty-fifth between Thompson snd
Tillamook. These homes, ready for oc
cupancy, will cost about $2500 each.
A permit was Issued to A. A. Rose
buck for a one story frame, cottage
which he will erect on East Forty-ninth
street between Hraxee and Alameda.
The completed building will cost about
$L'ono.
The same general type of dwelling Is
being ltii lit by C. F. (Mbler on Oregon
street between Kast Thirtieth and Kast
Thirty-first.
Ground was broken earlv In the week
for a one and a half story frame cot
tage on Fast Twenty-fourth street be
tween Flanders anil Kast Gllsan. The
house Is being put up for K. G. Worth,
snd will cost In the neighborhood of
J275".
Legislative Ieadlock Costly.
(Tnlted Pi-em Leaned Wire.)
Ijondnu, MhtcIi 6. -An unprecedented
deficit In time of peaje faces the gov
ernment nt the end or the fiscal year,
March 31. It Is estimated that through
the failure of parliament to pass the
udgct there will be a deficit of $150,-
000,00(1 In the funds necessary for the
operation of the government. Revenues
from taxes on tobacco, whiskey, land
and Income, together with revenues from
saloon licenses, automobile licenses,
death duties and revenue stamps, will
be lost to the government. There ap
pears to be no Indication that the budget
will bo passed at the present session
of parliament, owing to the legislative
deadlock.
Journal Want Ads bring results
During the week following Easter a
church fair, the most pretentious thing
of the kind ever held In Portland, will
take place In the auditorium of the
uncompleted Bt. Francis cathedral at
Kast Twelfth and East Pine streets.
The object of holding the fair at this
season of the year Is to raise money
to be devoted to carrying on the con
struction of the stately edifice.
Nearly all of the parishes In' the
city and vicinity will assist In making
the fair a memorable financial suc
cess More than $26,000 has already
been expended on the building, and It
la estimated that fully $50,000 addi
tional will be required to finish It.
When completed St. Francis church
will be the finest and most tmposbig
Catholic church In Oregon.
on Torn
liUUHIULL MILL
dill
mm m
Opens Office on Third Street
After Dissolving Partnership
With Mackie.
James O. Rountree, secretary of tha
Portland realty board and until recently
Junior member of the firm of Mackie A
Rountree, has opened an off lea at tl .
a bird street, having dissolved partner
ship with Mr. Mackie.
Mr. Rountree has taken tha selling '
agency , for a large traot of Wlllametta
valley frolt lands, whlcn wag reoanUy '
acquired by a local syndicate. It la tha
Intention of Mr. Rountree and bla asso
ciates to plant the entire tract In a
com merclal fruit orihard, . cultivate It
until the trees reach the bearing stage
and then sell It out hi small traots, V.
B. Mackie will retain the former offices
of Mackie Rountrea In tha Lumber
Exchange budding.
Journal Want Ada bring result.
SALESMANSHIP CONTEST
OPEN TO EVERYBODY
THERE IS MONEY IN IT
A nihit inns men and women,
Krvuc and p-irLs HERE IS A
c A m C K FOR YOU TO
MAKK SOME MONEY.
Fvcrvhodv has heard of beau
tiful Alameda Tark, situated ad-
. i 1 . r T e-i rr
joining ana ovctkx'mnk n.nfe
ton. Many people nave aircauy
purchased lots there, aiui many
homes are to start this spring.
Have vou some friends who be
ieve in the WONDERFUL FU
TURE OF PORTLAND, and
whom vou can interest in the
probable purchase of lots in ALA
MEDA PARK?
If so, call at the offices of the
Alameda Land Company, 322
Corbett building, and receive lit
erature in regard to Aiamecia
Park and detailed instructions as
to how to proceed in the contest
Prizes, will be awarded as fol
ows: First prize, $100 in gold
coin; second prize, in goio
coin; fhird prize, $25 in KolftcoJn,
and a long list of $5 prizes in gold
coin.
There should not be a bright
person in the Pacific northwest
who will not be able to at lea&
draw a $5 prize.
Remember, it is positively nec
essary for each contestant who
resides in Portland to first call at
the Alameda Land Company of
fices, 322 Corbett building, for lit
erature and instructions. Letters
will not be answered, excepting
those from persons living outside
of the city who desire to enter the,'
contest.
The contest is named Sales
manship Contest, because, frank
ly, the purpose of the contest is
to further boost the sales of Ala
meda Park. However, no con
testant is asked to sell a lot.
Now, let everybody get busy!
HA IS
10RT0JN
A BEAUTIFUL ADDITION ON THE WILLAMETTE
RIVER AND UNITED RAILWAYS CHARMING
VIEW, ELECTRIC LIGHTS, BOTH TELEPHONES
STREETS GRADED AND WATERNPIPED TO EVERY
LOT, AND EVERY LOT A BEAUTY
Residence Lots 50x100 to 50x150 $175
and Up. Acre Tracts $300 Per Acre
TERMS TEN PER CENT CASH
BAL. 3 PER CENT PER MONTH
HARBORTON is most magnificently located, overlooking
the Willamette River on the WEST SIDE, where there will
be no draws to interfere with traffic. Affords a most beau
tiful and charming view of all the surrounding country.
WHEN YOU SEE IT YOU WILL BELIEVE IT
D. C. ROGERS, 214-215 BOARD OF TRADE BLDG.
IT
0 ... .L..E..j..j(.)
WIMfflS
We herewith publish a list of the thirteen names and addresses of the Othello contestants, with the composi
tions of the three first prize winners; the compositions of the others to be published later. Owing to the many
hundreds received, it was a difficult task for the judges to decide the winners, but have done so to the best
of their judgment. Space will not permit honorable mention of all the contestants, as much as we would like
to do so, but it has proven to us beyond a doubt, the great interest manifested in Othello by the great number
who contributed to this contest and we wish to thank all those who sent in compositions while some were
not successful in winning prizes, it is altogether likely that we will use some of the copy sent us for which we
will be glad to send them some consideration.
LOOK
ft
PRIZE NO. 1
"WHY SHOULD I INVEST IN OTHELLO?"
In the first place because it is not a speculation,
and in the second place because it is a speculation.
But it is.the best, surest and safest speculation in
the world, because it is backed up by the EARTH.
A piece of real estate rapidly increasing in value as
Othello will is certainly the best investment one
could make. The educational, social and financial
advantages here are all that could be desired. And
as for health-giving conditions, there are none bet
ter in the state. A home is indispensable, a home
all must have somewhere; an opportunity does not
present itself every day, month or year and not
often in a lifetime. Therefore I feel it a duty I owe
to myself, wife and babies, for our future welfare
and happiness, to gtt a home in OTHELLO.
Friends and relation may forget and forsake us,
banks may and often do fail, but an investment in
a choice bit of real estate in OTHELLO cannot
and will not FAIL US. For it is always in de
mand. Always worth the-price paid and more. It
is always wprking for us. Even while we are sleep
ing it is increasing in value, and when we are sick
or otherwis.e in trouble it keeps on working in
creasing in Value, piling up the cash to help us out
and pay the doctor bills WHILE YOU WAIT.
WATCH OTHELLO GROW.
Woodville, Oregon.
THOS. H. B. TAYLOR.
PRIZE NO 2.
WHY I SHOULD INVEST IN
OTHELLO.
Every man shall sit
under his own Vine
and Fig Tree.
Because, as I have something to in
vest, I want to invest in that which will
hring me the best returns, and thereby
improve that which I already have, and,
the land being the best fruit land and
suitable for other purposes as well, and
as every man, woman and child shall
sit under his own Vine and Fig Tree, T
shall be able to sell my investment if I
see fit. Therefore, I should invest in
Othello and get ahead of the other
felloXv..
MRS. MARY EASTMAN
CJatskanie, Columbia Countv, Or.
PRIZE NO. 3.
The most important reason I have
for investing in Othello is: The lack of
capital to invest in a larger city, and the
assurances that my little investment
will not prove a failure, but will bring
me returns equalling that of a larger
investment elsewhere.
T know of no other city in the west
with the advantage of splendid location,
resourceful surrounding country, rail
road facilities and the prospects of as
brilliant a future as Othello.
MRS. MOLLY TIDD SLATER
430 Columbia St., Portland Or.
OVER
PRICES WILL RAISE SOON
The sales in OVERLOOK are nearing the $150,000 mark for this
year so far, and every day brings better returns. New homes are
starting all over the tract, and everything is moving 4ively. You
should visit the tract today and see for yourself. The only way to
prove what we say is to DO IT TODAY. Transfer to Russell
Shaver car and .
look OVERLOOK 0VER
OVERLOOK LAND COMPANY
207 BURNSIDE ST. , PORTLAND, OR.
FIRST PRIZE One acre land at Othello, to Thos.
II. B. Taylor, Woodville, Or.
SECOND PRIZE One $250 lot in Othello, to Mrs.
Mary Eastman, Clatskanie, Or.
THIRD PRIZE $100 check to apply on purchase
of lot in Othello, Mrs. Molly Tidd Slater, Portland.
The Ten Following Each $50 lo Apply on Purchase of Lot In Othello
Mrs. George R. Clark 711 Milwaukie St.
Mrs. C. H. Mulldorfer 328 Fourteenth St.
lIiss Cecil Ritter 711 Michigan Ave.
H. C. Egan , American Can Company
Fred Lockley 1738 Base Line Road
Nathan A. Boody 996 First St.
N. J. Belt ' Gresham, Or.
Miss Jessie Loman Waldorf Hotel
Miss Rae Crawford 414 College St.
Lena Ayres 724 E. Madison St.
TlELLdD IMPROVEMENT
Cm
F. B. NEWKIRK, IVIanaoing Director
219-220 Commercial Club Building Corner Filth and Oak Streets
Phone Marshall 727
A.
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