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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Sept. 3, 1922)
p SECTION 1HREE BUSINESS INEWS RESIDENCE MORE THAN $17,000,000 in building permits were block bounded ty Fifth, Sixth, Taylor and Salmon Risley station. The new! home the half block on the east side structure being erected on the CITY PROPOSES OF LAND HOLDINGS More Than 3000 Sites Held on Tax and Assessment Liens to Be Offered Home- Builders. More thajn 800 choice view residence sites, valued at approximately $2,000. 000, will be offered to home builders at an early date, according to plans outlined by the delinquent taxi com mittee of the city cotincit The prop erty is located on Kings Heights. Arl ington Heights and Council Crest park and is a portion of mors than 3000 parcels of unimproved residence prop erty taken over by the chy to satisfy delinquent tax and assessment liens. Negotiations for the sale of the city's holdings through a real estate firm have been under way for several months, according to Commissioner Pier, -and it was announced Saturday that terms submitted by Dor K. Kea sey and Ivan Humason had met with the indorsement of the committee and would be submitted to the council for approval ' tats week. The property in the three heights additions already has been listed and appraised, it was stated, and would be the first ; to be placed on the market- Kings Heights was platted in mi and was valued at that time at more than $1,000,000. The city holds 40 parcels in this addition and it is pro posed to offer these at bargain prices to home builders.' Arlington Heights also was platted in 1911. and the city's holdings in this addition comprise 160 home sites. There are more thart five miles of paved streets in the two ad ditions. Streetcar lines offer access to the two tracts. Water mains, sewers, gas and electrical service were in stalled at. the time of. platting and ap proximately five miles of rubble stone retaining walls were constructed. Both Kings Heights and Arlington Heights were platted as high class residence districts. The sites axe for the most part covered with a light growth of fir, maple, dogwood and other native flora. Platting Of the sites provided unrivalled view of the city, rivers and mountains and ail sec tions of the two additions may be reached by a 2Q-minute ride from Washington street. Business depression due to the world war interfered with the plans of the promotors of Kings Heights and Arl ington Heights additions and the prop erty was finally taken over by the city to satisfy tax liens and improvement assessments. Removal of the prop erty front.; the tax rolls resulted in a heavy expense to the city and a handi cap to individual property owners in the vicinity. According to Commis sioner Fier it has been agreea oy Keasey and Humason that the s;tes wilt be bld to bonafide home builders. Restrictions placed on the two addi tions called -for a minimum construc tion cost of $2500 on residences. A differential of approximately V5 per tent between the present cost or pav ing and other improvements and the cet at the tune tne aaaiuons were platted" offers to .purchasers. a material . advantage Council Crst Park was platted in. 1910 and a total of 200 view sites listed for sale in this addition possess investment advantages equal td , those of Kines Heights and Arlington Heights Cuarauteed titles will be given by. the city to all purchasers of property, it was announced, j tAccortling to Keasey the arrange ment" with the delinquent tax commit tee would provide for the sale I heights nronertv in advance of other litUdings and .when appraisement had been completed -the city's holding in other sections, of the city would ' be offered for sale. The arrangement provides for supervision of heights property sales by Keasey, while Hum ason will look after the disposal ol east side holdings. j 1SEW BfSI"ESS BLOCK PI.A?TXED Centralia. Wash, Sept. ft Construc tion of a new busmess block by Abe Ktewt-IIing on property recently pur chased by him at the corner of jTbwer avenue and Maple street will be started ss soon ' as .the plans are completed. The building will be two stories in height. ; BCT STFART HOCSK j 'Jefferson, Sept. tMr,- and Mrs. Harry Price have purchased the Stuart bouse, which was recently traded to Jim Kellar and then sold to Mrs. Fannie Phelpa. Mr. and Mrs. Price and : their children are w ith her mother, Mrs. Wied. awaiting lh ar rival of their household goods' when they will occupy their Bew.homt, . ? hi Jt FBI ill i ' - f i i I : - if ihr -z itt; - . - ll ?v; -1' U$r -i :1";Jv jUnMC Dil l niMP AND APARTMENT HOUSE CONSTRUCTION STRONG FACTOR IN EIGHT MONTHS' BlHUHNG is Valued at $10,000. No. 3 of East Ttaji street between quarter block at the southwest Aberdeen's Armory, Recentily Finished, Is Crit to State Aberdeen. Wash.. Sept. 3. The state armory, recpiAly completed iri this city and accepted! is regarded as the last word in buildings of this kind jn the state. The cst wos $150,000 exclusive of the site wich was paid for by the city and ccinty( appropriations of IS000 each. The building is composed of concrete, Isteel, stucco and ' brick and is dividid into a large armory hall, retiring! rooms, rooms for mem bers of the farand Army of the Re public the Veterans of Foreign Wars and the loca.ll military organisations. ' The hall, fhich will be used for a ballroom or ifor conventions, is one of the finest in I the stae. In the base ment is a riffe range and heating and lighting equipment. Goodbar Jones, an overseas vetfcran. has been named caretaker. . Tine dedication was in charge of thj Masons. Bishori Kater of Tacoma officiating. Beckwith Succeeds Bitter as Heard of Portland Realtors Harry G. Eleckwith was elected pres ident of the t'ortland Realty board at a meeting of the organisation in the assembly room of the Multnomah hotel Friday noon ; John H. Mariels was chosen first (vice president, J. Logie Richardson wcond vice president, and Frank B. Ufishaw third vice president of the board! Ritter was appointed a member of fthe executive committee and Mariels fjtook Beckwith's place as chairman of the entertainment com mittee. At the la? annual meeting of the Northwest eal Bstate association, held at Yaiicouver, B. C, in June. Ritter was fclected president , of that organisation and resigned hi posi tion as president of the local board to take up the duties of his new office. i . Stark Street Block Sold (for $100,000 v I One of thej most important real es tate sales ritported. during the past , week Involve the transfer of the Un tron block, a four-story brick ; build ins located dn the north side of Stark j between Flret and Second streets.' from the Failing estate to the Peer- j less Pacific Company for & considera tion of $100.00 The property has a frontage of 30 feet on First street. 200 feet on Starjk and 75 feet on Second street. The IjPeerlesa Pacific company will occupy (he building following the expiration of a lease on its present quarters at gXo. 68 Front street, ac cording to V. S. Babson. head of the company. Tie sale, of the Vnion block was handled sby J. Fred Staver. . Realty! Sales Brep-k Firm s Old Records The real istate market for August was somewhat spotted, with a strong trend towantt investment in vacant sites by Jiome builders. Outside acre age has been in active demand throughout tjhe summer and the usual lull during he Tacation period gave way to a spirited building campaign. The month proved a record breaker for the Frank t. MeGuire . company, the firm reporter !U sales; with an ag gregate valuation of more, than $600, 600. Th befit day of the month wit nessed - the transfer of 16 booses and a. number fa vacant lots, acttn-dinr tn tie record onthe f irm'a bvietin board. i5T U J A M E J A C 1 A. ; lmmwmZwmil - ; -j. - -L-p ' 5 ; -r gftMmraihHrU f I E f'J . V4 XUIfkMil irq ,Increasig Imiome I PORTLAND, OREGON, SUNDA Y MORNING, SEPTEMBER 3, 1922. i i issued in Portland during the first eight months of 1922 and streets, scheduled to be torn down to make Way for a business Armory building iust completed at Aberdeen. Wash. No. East Madison and Hawthorne corner or rJ roadway and Madison streets by the sovereign OBSOLESCENCE BANE OF Average Age of Office Building Shown 28 Years and Net Re turnsftss Than 5 Per Cent. Obsolesence is the particular bane of the office building owner and Its en croachment limits the average profit able life of the best class of Ameri can skyscraper to :2S years, according to investigations miade by the National Association, of Building Owners- and Managers. 'During thisperiod the -true net earnings of the office building are shown to average less than 5 per cent on its market value, with a constant decline after the 18th year. In broad definition, "obsolesence Is that which causes the useful and pro fitable life of anything to be shorter than its possible physical existence.? Application of the term to buildings, in the report cited, is based upon data obtained from 155, office buildings with an aggregate varaei of nearly $200,000,f 000. located in 40 American cities. The list Includes nine Portland buildings, VI in Seattle and 10 in San Francisco. The report divides the life of the of fice building into two periods, the first extending from its erection to about the 28th year. During this period the gross income is nearly constant, rang ing from 16 per cent to a maximum of 17 H per cent. Expenses, covering op eration, repairs. insurajce. taxes and depreciation, are shown to rise eonr tinuously with a corresponding falling off in the net return and the -average ret return is less than & per cent on the market value of the property. "The second period extends from the 28th year to the end of the life of the building. During this period the grosp income falls rapidly, as does also the operating expense, while the net In come continues to decline at a some what faster rate than during the first period. At the beginning of this period it is found that pugh the action of obsolesence the Duilding is losing its better class of tenants and that t fti impossible to maintain Its inco.ne at the previous level. . i Because of the falling off in income, operating expenses re reduced by giv ing a cheaper grade of service and the building is rated as second class. The ever increasing amount of repairs and replacements necessary, in an old build ing serve to Increase expenses with the result that if the building continues in existence it soon becomes a non-producer and is often, operated at a loss. 1 When a building has arrived at the second period of its life and it is only a question of time r&ben lb will have to be torn down, its investment value de clines rapidly and flea is extinguished entirely, not being; considered to add any value: to thej land on which: it stands. As a consequence, while k building in its second period of life may bo. under favorable conditions, operated at a small margin of profit, obsolescence will ive largely or wholly destroyed its sale value. : , Among the causes which bring about obsolescence in an office building are : The normal growth of the business district- Shifting tn location of the busi ness district. , Erection of newer build ings of a different type or style Greater; efficiency j in the layout and operation of newer types of buildings. More modern "an 3 complete, service which the newer o&iidings give to thejr tenants. Damage mused, by new "build ings shutting off light and air from the older structure, thus diminishing the! value , of1 Its space, and earning power.-L' j j:tfe4-w'i!-ir;'- Accompanying the report is: a chart PROVES BUILDING OWNER i : avenue. Plans were prepared, by W. W. Lucius and aggregate cost of the buildings is estimated at $65,000.1 No. 5 of the city of Portland prepared by James J. Sayer, secretary of the Port land Building Owners and Managers association, showing the location and history of a number of prominent build ings. The effect in obsolesence on a number of these: headings through the shifting of the business district with the growth of the city, is an inter esting feature of Suyer's report. The city of Portland started in 1845 at the edge of the Willamette river be tween Washington and Alder streets. From 1845 to 1871 the principal street was the first street back from the river. From 1871 to 1894 the business center had moved: back another block. In 1894 it shifted back to Third street which remained for 15 years the princi pal business thoroughfare. In 1909 the business district thifted its axis to right angles and aiiice. that time has been along Washington street.' Since 1894 the center of the business district has moved approximately six blocks, or at the rate of one block in less than five years.' According to reports on property along Third streef, contained in Sayer's review, the shifting of the center of the retail and banking district west ward has depreciated the. value of the ground at the northwest corner of Third and Washington streets, covered by the Spalding building, from its pur- cnase price or 1400,000 to .1250, 000. 1 The value of the land covered -by the Rail way Exchange building on the south side of Stark between Third and Fourth streets Is shswn to have depre ciated 35 per cent since 1909 as a re sult of the westward trend and simi lar depreciation is 6hown in the value of other property m the district. '"It is not only possible but absurd even to suppose that .the shifting of business center can be stopped, or that the swelling, flood of city business can be dammed ! up s and contained in one spot," Sayer averred. "It no sooner fills up one locality than It must needs flow on Into the next. The Immediate cause and guide to the shifting of the business centers Is the retail district of the city. It is the retail district that brings the greatest, number of people and business is most profitable where traffic Is greatest. Office building rents are, in the last analysis, deter mined by the building's strategic roca tion with regard to the center of traf fic." : ' . Among the 1$ members of the com mittee which supervised the report are R. A. Strong of Portland and A. H. Bee be of Seattle. Credit for coopera tion in : preparing statistical data is given to James Sayer of Portland. J. T. Curran and C. F. Clise of Seattle, E. it. Applegarth ef San Francisco and secretaries of building owners and managers associations in a number of other' cities, i School; Dormitory To Cost $100,000 Spokane. Vaeh4 Sept. 2. Construc tion of a new dormitory this fall to cost J 100.000 and house. 150 men at Cheney Normal school, is virtually as sured through the pledges, of Cheney business men to ! raise: ?70,000 of the amount, according' to IC. D- -Showalter principal, a business visitor in Spo kane yesterday. He conferred with Spokane bond- men on the financing plan and waa - assured their active cooperation.! although the school will finish the Job of : raising the money. SCHOOIi IS SEW BUILDING Oregon Agricultural College, Corval lis. Sept. Preparations to move the department of Industrial Journalism to the new commerce building are being made by Frank 14 Snow, who is on the campus after a month at New port. : r The f tndustriaL jj Journalism de partroentwiH be thoroughly equipped after, the fashion I of a modern ; news paper office and Will be housed : in six rooms. -.! Private office , rooms -, have been provided ' for - all; instructors on the : industrial Journalism staXf. ' . of this amount $9,198,215 goes to finance the construction jof 2538 dwellings, building. No. 2 Dutch colonial house erected by the Aladdin company ;fo 4 Warehouse buildings under Motel company, at a cost or approximately $500,000. GAS COMPANY TO :lf r1' MM i HAVE NEW HOI ST; Jofin C. Ainsworth Plans Erec tion of a 5-Story Office Build ing at Sixth and Yamhill. Plans practically have been com pleted for the erection of a five story steel structure costing approximate $3OG.0fiO on the quarter, block at the southw;est corner of Sixth and Yamhill streets to be Used as general offices and salesrooms by the Portland Gas &. Coke company and the Pacific Power & Light company, according to an nouncement Saturday by John C. Ains worth, owner of "the property. The frame of the structure would be of suf ficient strength to bear the weight of six additional stories to be built at a later date, Ainsworth stated. Exterior of the new building' : is to be ?of terra cotta with abundance of window space on all floors. The ground floor will be used as a sales room for the gas company and tie .upper floors are especially planned to meet the needs of the two leasing corporations for a number of years. Both corpora, tions now are housed in the Gasco building at the southeast corner of Fifth and Alder streets. The ground at the corner of Sixth and Yamhill was formerly the site of the Ainsworth home and was purchas ed some 50 years ago .by Captain John C. Ainsworth for $2500. The quarter block is now valued at $250,000 and has been occupied the past year by an Associated Oil company filling station. The lease of the oil company has ex pired and it was announced that con struction work on the new building would begin in about 90 days. Permits; Granted for 3 New Apartment Houses at $210,000 Permits issued last week f or ' the erection of three new apartment house buildings call for the expenditure of $210,000. Jason C. Moore will erect a $90,000 structure at No. 1391 Haw thorne avenue. The Feters Construct tion company proposes to build a $70j- 000 apartment house on Tenth istreet between Hall arid- College, audi Wllj liam Isensee has had plans prepare! by ClauEsen &. ClauEsen for a $50,000 apartment building at No. 414 ; Ftftii street.; ' j -.; j , The city council last week approved plans for i the recons: ruction of Elton Court apartments at the southeast corner of Eleventh and Yamhill sireeuj. owned by H. B. Moore. The building was partially destroyed By fire about two years ago. It is understood that negotiations for the transfer of the Elton court property to Herbert Gori- don were coatingent upon the issue ox the jerDBit granted by; the: council. Thi.- property, Is valued at 9100.009. , i ; ! 4 i . Banker to Erect $35,000 Eesidence Plans ihave been prepared fcr ! A. K. Doyle for the erection of : a reside uct estimated: to cost $35,000 for Emerjr Olmsteadj president of the Northwest ern National bank. The ite chosen for the residence at No. f42 Knott street. fX.ui.-V.;. Hl-J--'". "Ui '; .t-,-J-- i . UN YAMHILL construction for die Howard I-..;,- . ' 3 if riirinrn---ii ii.ui. Hiiiiiiinitiifltivr-rri' "ts " ' : 1 i ' - ..." I ! August Sees Brisk j Business in West Side Locations Continued activity in. th demand for floor space. In; the west Side business section is j reflected in leases aggre gating more tihan $50,000 re ported by the Metzger-Parker company for the last, two weeks in August. Among the important transactions bandied by the firm was a lease on the storeroom at No. 184 lOjth street to the B. HA Gil man company, importers and export ers. The Oilman company has: been engaged a wholesale business for several years I and proposes toj open a retail store at the new location. The Hemphill Trade school took a five year lease on the property at NO. 327 Gllsan street. The new quarters will have I a' frontage of 50 feet on Gllsan street and a depth of 100 ; feet. The school will be open after! ; Sep tember 15j i I ( i A five-year lease on the entire sec ond floor of the building at the south east corner of Third aad Burnside streets was taken by the West iCoast Shoe company. The firm has; been located for some time In the I Mc Kay building and proposes to enlarge Its capacity at the new location.; The I Maiim I Shirt company surejd a one-yeaif lease on 2000 square feit on the second floor of the Park and Yamhll building. The firm is en gaged In the j manufacture of custom made shirts. ; The! Me tiger-Parker company alsoi announcedf that several thousand dol lars would be enertt in alterations to the one " stor brick building at the northwest j corner of Brso&dway arid Flanders streets. belonging tid the Stone I estate, j The building will be divided Into space for a number of storerooms facing on Broadway; and a garage at the rear. j J . NEW PRESIDENT OF THE i PORTLAND REALTY BOARD - . ' ' I M - j ; -1 : j ' i - f campaign in jerry No. 1 rOld ror mrs. mj Sanson on as quarter Coooer comoratioh and the Logging I Companies Invade Oswego Lake For Storage of Logs Oswego, Sept. 2. Following -a move ment originated by prominent Sawmill interests in Portland to utilize a small portion of Oswego lake for storing logs if rom Nehalem dlstrfctv the ! Oregon Iron & Steel company has withdrawn from sale some j 30 waterfront I lots on the south shore of Oswego lake. Be cause of the lack of facilities fof dump ing and storing logs on the Willamette in the vicinity jof Portland,, and the further fact thai the j Southern! Pacific will not permit log trains to go through Its Elk Rock j tunnel and is trying to eliminate the travel by log trains over its steel bridge across the Willamette, the sawmill interests 'are compelled. to look to other localities for log Storage, and Oswego lake is the closest! advan tageous point to' unload from the Southern Pacific' and jthen get jthe logs into the Willamette for towing to the :miUS in Portlftnfi. j i 1 Y ; While no definite plans haye been formulated, it is understood that the Oregon Iron A Steel company jhas the matter under consideration. The Idea lis to use the bay on the north shore of the lake at the east end, and the Southern Pacific will dump tjhe logs into this bay from its line whijeh runs close to the bayj. This, It is declared, will not interfere with navigation of the lake as the togs would be Retained along the north shore. From there they w ould 'be run in a flume to the Willamette river. The partle inter ested in the proposed movement have in mind the idea of using the duck pond for the storage: of the logs and f turning them j from this point Into the 'Willamette. j j- 1 f ' i J ' VI j-.' Delinquent Eealty Offered to Public Montesano, ; WashM iHarbor county will Sept. 2J Grays hold its annual sale of delinquent real estate jNovem ber ; 1$. accorlng to Mrs,: Olive Dun ning,, county treasurer. : Thi 'year's tale of land upon which the tares have not bee ; paid for-five, years will in clude' thousands! of descriptions. For the most part the land to be sold is townl lots and about half the offer-. Ings will be in jOcosta arid Westport, boom cities of an earlier day. These lots are owned 'We the Pacific Invest ment company and Setnlhoo Kealty company. In hundreds of instanced the total delinquent tax for the ,flve year i period Is liess than. 60 cents. It Is noticeable that -4he Aberdeen' Iota included h the jsale have hea , local Improvement ; assessments s tanding against them.! fioqalam, as tsual, is hard!y represented in- the sae. , The great bulk of the land to be offered Is of little value. . , . DO r BUB SHIFT WeBKIpTO i s Lewiston. Idaljo, Sept. X. The Craig Mountain Lumtier (company f "Win chester .has bfeenj operating on k double shift:; basis since .August. 1. employing 400 men. withi shipments of roueh and planed lumber averaging five cars daily. Most of this product Is! sold to Middle Western! dealers.- ' - a '.'. ' - 'The opening in a hew fountain pen for draftsmen lis kept: closed k by : spring controlled plunger 1 except when it is praised agnUisr paper. i'4'IU WANT XDS it I Failing Hox&M locate on the site at acre James A. C'l Taif 1 company on Nine story reinfqrced concrete htum of the honie characterised Port prognam for Aus ust and ijhe leeord of IS residemie permits issued Friday would indicate a continuance i. f the campaign duriilK tne auiurpn.j lAparimena nouse ana hotel conjftruction j ranks next In Ini- portance tp resjidence construction' ar d plans In prcpaiatl4n call for the erec tion of several Inaorje multiple, dwellings aurmg h call and winter months. A numher ' At. Important improve ments on I bus) iessj property, were an nounced during th;emo! th and .these Include two maJorj officu buildings n the westsiide biisiness district. fvr which plahaiarfe at m tentative stae; The piano or ! tne Columbia Tire cor poration, unjdrj j Construction on n eight acre tratit a . Mississippi aventie and Columbia boulevardi . ia the mocit important! IhdUrtrial , dqvelo'pment bf record and plans Jiave been prepartd for the erection of several smaller plants onf the! (AlbSna industrial trajt. Building permits) issues during Aug ust totaled j 1644. with ian aggregate valuation of $.94,380. Of this, num ber 355 were residence pjermlts, callihg for an expenditure of $1,223,050. Tlis record compares: fsjvorab y with August of last year,; wheni a tot il, of 1591 pelr mits wer issued I with an aggregate valuation j m,M,S. ' of w hich 250 were resldehc ! permits with a total valuation ; of $89o,725. v V j For tljej eight iionth! ending Aug ust. 31 a total r.J0.151 building per mits wtthj an aggregate ' valuation. of J17.014.1S5. iwerte T grantjed, ; comparied with a total; f ?3k4 permits valued at $11,265.2011 fbr j th4 first eight montiis of 1921. Resident perndts' issued diir Ihg the first! eight mctiths of lSi2 totaled 25J8 (with 4 valuation of J9.19B. 215, compared jtrith 197 residence per mits with a! valuation of $8,842,495, granted durlnaf the first eight montjhs of last yeakii' ii -1 v -; A marked: feature of the recent de velopment in i residence construction is an Increasing! number of dwellings costing lni eioeas Of $10.f)00. -Plans for a large nsmber t nouses or tnis type are teing preparea , iqr ouiiaers EastmoreJnrid- and! jotherj east wide trlcts. Another! ! important feature the eight niionthrfJuUlng cam pa i is the development of new additions on electric Unesi and pived highwajys outside tnelcity j Stmita. iProffrftss in iBuilwiilNekvTowp j 11T : r- i iKelso. IVashli ! iept. 3. The Unlttd Cbntract omrar(yl which has the coin- tract for j gracing1 the streets of tKe Long-Bell! i.tlirber company's Indiie tcial towii (south jof Fclwlers lake, is ntaking rapid:- progress with 'the woitk. More thaa S$q team 8 eire being nsjetl li the work; and grading of one street or more m iepmplfeted each day, f The workMs bejlnjgfdon a jthorough majii ner and" wtKSn. ihs jgrading is wnplet)ed the Industrial towh will I be one of t)ie est commardl!es I In the JVest. The streets will b 0 feet In! width. . - The Ixng-Bel( corepapy; is planning : ta erect 300 teidenctis in this town with in the nti a'!e4rt t..Thdy will not be the ordinary thill jtowrt structures but will' h rail: hthrnim ' LABOR CAHtTC AT ABERDEEN ; Aberaeeti, 1 wasi.- sepjU- 2.BuUdiiig projects of all Hinds under way In ttie ....:-iLlJ L.It t . - - '.I urayi ixaroor fjoipiry -are more or lass delayed b.)l4iki.f , .helt' Some delky has been fapf j ! By shortage of mate riajs. Tne outng situation ts stm a problem iot-tthtand(nr a consider able amount I if! pulldinjg in the likie of dwelling I Vhlh has been , carried On : durimt Jthe: 1 spring, summers ahd fail months, W1- IM il5 Eugene, 1 Sept. : i--J, 14. Vannice iof twiston, .Idania.i who has been looking rer the i hfVfllliunW villey the pist few days! ha i 'Oecided to locate tin Oreeon. , Hd hfcuS sold ht half nectibn of land'hea Lteiwliston 16r $25,000. taik- ing as part J taytnent Ion the Idaho farm ' an : BO-acre farm near Browiin ville. 'T. (A, i Stlviers, Botal - realtor. made thedealf 1 1 4 . : -CAU FOB BIDH " ' Centralia.! Wash., Seat- 2 Call for bids has peen 1 issued far the rectijon of .a briflC rand concrete two-story structure tor. xnej tiranjge ware'.iotfso cotnpanylntf ttt comer Iof Tower and Walnut streets.' ;it is ksthnated that the building wjlH tost iri the neighbor hood of 7jM. ! ! t - - r I