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NEW YORK LETTER
New York, Sept. Jl. The real es
tate boom, which had assumed such
Immense proportions, has suffered a
check. The current stringency In the
money market has struck the real es
tate market harder than any other
section of the blxness community.
Mortgages were paying such compar
atively small rates that many invest
ors have fallen Into the habit of loan
Ins: on other securities, and conse
quently real estate mortgages have
been left to the savings banks and
building and loan societies.
On both of these the speculators in
real estate had leaned with great
weight, fairly rushing the market with
their applications, In order to buy the
bargains, which were offered by all
the suburban dealers. The purchases
had been largely in excess of legiti
mate Investment, stirred up by large
Dorflts made In Quick exchange of
property. Besides this the savings
banks have been drawn upon very
heavily by depositors, for Investment
In real estate, so that they have less
than the usual proportion of assets to
Invest in mortgages based also upon
real estate.
In consequence there Is no longer
a boom In real estate circles, but
rather a decided dulness, not to say
gloom. Since January 1 the total
number of mortgages that had been
IN THE Ii.M lHAlTnS.
Ititilroad Cumimny Aenurd of Ac
quiring Coal Lands Illegally.
A special from Denver says:
The investigation into the sensa
tional charges In connection with the
Union r.iclflc railway company s aux
iliary, the Union Fuclflc Coal com
pany, with extensive land frauds ac
complished thru perjury, conspiracy,
false representation and the use of
disreputable characters ns "dum
mies" is scheduled to come before the
Interstate commerce commission.
The commission is empowered to
proceed by virtue of the Tlllmun-GII-
lesple congressional act, which gives
it authority to Investigate relations
existing between railroads and coal
and oil companies. Before the In
quiry has ended it Is said that men
high n the councils of the Union Pa
cific companies and numerous sub
orllnates as well, will be enmeshed
In the chain of evidence which the
government officials ore planning to
forge. Whatever evidence Is added
will be placed in the halid of the de
partment of Justice for such legal
proceedings as it may deem neces
sary. In the course of the investigation,
It is assured, evidence will be Intro
duced showing that men drafted from
flotsam and Jetsam of Denver were
used early in 1904 to make the declar
atory statements required by the gov
ernment to the effect that they wish
ed to become possessed of Wyoming
coal land, and they were then paid
sums ranging from $3 to $10 by ngents
of the Union Pacific Coal company
to give n power of attorney to a rep
resentative of the Union Pacific Coal
company, who Is said to be one of its
well known agents, and sign relin
quishments to their rights In the
premises.
How to Avoid Appendicitis.
Most victims of appendicitis are
those who are habitually constipated.
Orlno Laxative Fruit Syrup cures
chronic constipation by stimulating
the liver and bowels, and restores the
natural action of the bowels. Orlno
Laxative Fruit Syrup does not nause
ate or gripe and Is mild and pleasant
to take. Refuse substitutes. Koep
pen's drug store.
An International Match Trust.
San Francisco, Sept. 21. A repre.
sentative of the Diamond Match
company sailed today for Japan, to
carry out the arrangements under the
compact which has been signed le-
tween the Japanese government, the
Amrelcnn Match trust and the Eng
lish match concern of Ilryante & May.
Japan lias been nursing the match
Industry and now supplies all her own
requirement, and also controls the
trade in China, Australia, parts of the
East Indies and the Philippine Islands.
Japan wants to acquire the latest ma
chlnory and for that reason has en
tred lpto the union with the Amerl
can trust.
PORTLAND REALTY
Fine new 2 story brick cement basement, foundation for 4 stories,
on north 5th street, near Glisan. Responsible tenant, has three
years lease at. $1800 per annum. Price $i 8.500. Pays over
8 per cent above taxes and insurance, or over 10 per cent net
on amount of cash (necessary to handle it. You will have to
act at once if you want this, as the market iis strong and
advancing.
Have a choice list of investments
paying as high as 15 per cent net.
1. J. D
AS
FAILING BUILDING
3rd and Washington Sts. PORTLAND, ORE.
recorded up to last week was 19,818
against 24,048 last year for the same
period, and they were for over 180
millions of dollars less money. And
this, altho there has been but a slight
falling off In the number of buildings
erected. This shows that the bilders
have not secured all the money they
needed for the construction of the
buildings they have put under way.
The rate of Interest has kept up
notwithstanding the operation of the
mortgage tax law, which exacts halt
of one per cent at the time of record
ing the mortgage, and exempts the
mortgage from further taxation, and
It has had no effect upon the rate of
interest The Hiding and loan com
panies report that they are loaded up
o their full limit The result will be
that the high prices high prices of real
estate will soon show a decline. Fail
ures of some speculative bilders are
spoken of as not at all unlikely,
8-Year-Old Heroine.
Heroes and heroines continue to
crop out In the reports of the day's
doings off the great city and Its sub
urbs. Over In Jersey City, modest 8-
year-old Jessie De Toung, said to an
officer who commended her for sav
Ing her playmate, aged IS, from
drowning: "Well, t couldn't stand
there and see Nellie drowned, could
IT"
Jessie and Nellie Drew had been
playing near the river at Bayonne,
when Nellie fell in. without a mo
ment's hesitation the 8 -year-old girl
Jumped in with all her clothes on, and
swam to her drowning playmate. Just
before she reached her side Nellie
sank for the second time and Jessie
dove and caught her by the arm
Nellie struggled and several times
pulled her smaller rescuer under wa
ter, but wlthtjrare presence of mind
Jessie held the other girl under water
until she had lost consciousness and
ceased to fight. Then, tho almost ex
hausted, she swam with her to shore.
Dived ISO Feet
The boy that dived from the Brook
lyn bridge last week Is an expert at
the blxness. He experimented to see
If he could Blve a hundred and thlrty-
' six feet as he had dived many smaller
distances. He gives out the state
ment that the only thing he could
think of In his descent was the fact
that he had not paid his laundry bill.
He said he only bunged his eye a little
bit and felt a little sore. He weighs
152 pounds, but he says he made a
shallow dive, going under only 10 feet
and could have swum to land easily
if a tug had not been handy.
He certainly did not dive for pur
poses of suicide. He managed to have
his head strike the water first, and
said it did not seem as long for his
descent as It had done In previous
Jumps of 65 feet which he frequently
makes. The magistrate told him he
might have killed himself, but he said
he didn't that diving was his blzness,
and he knew all about It. The magis
trate was quite fascinated with his
story, and gazed at him in wonder.
Hair Tonic Fire.
The dangers of the barber shops
seem to Increare In number and vari
ety. A bald man ha a hard time of
It when lie enters a barber shop; as
danger seem to be lying In wait for
his hapless scalp. Heir tonic was the
cause tit a hnld man getting his scalp
badly scorched the other day In
city shop. The barber had Just ap
plied It when the victim struck a
mat.'h with v.hleh to light his cigar
The vapor of the hair tonic caught Im
mediately, and In n second the man's
head was a mass of flames. He yell,
ed and Jumpt in hi? feet while the
other customers ran around the shop
half lathered and half shaved.
The imrber to extinguish the flames
Involuntarily poured more hair tonic
on the blazing hep.d, which added tc
the flames and the terror of the cus
tomer, and he yelled still louder
Then a barber assistant who had sur
rendered their prey, and quiet once
more reigned In the barber shop. It
was a lively little fire while it lasted
Free R.oms Fai
Week
Welcome
Ladies and
Children
to our
FREE
Rest Rooms,
Reading Rooms
and
Toilet Rooms.
Up-stairs, opposite
Fair Pavilion.
IT lrMS3
Your Children,
Your Friends,
or
Your Lunch
and enjoy a
Quiet Time
Up the first stair
north of the
Fair Headquarters.
A Lady in Charge to Look After the Wants of
Women and Children.
Cored Hay Fever and Summer Cold.
A. J, Nusbaum, Batesville, Ind.,
writes: "Last year I suffered for three
months with a summer cold so dis
tressing that It interfered with my
business, I had many of the symp
toms of hay fever, and a doctor's pre
scrlptlon did not reach my case, and
I took several medicines which seemed
to only aggravate my Porta
nately I Insisted upon having Foley's
Honey and Tar In the yellow package,
and It quickly cured me. My wife has
sine used Foley's Honey and Tar
with the same success." Koeppen's
drug store.
' The Sumpter public schools have
reopened with an enrollment of 188
pupils, and the attendance la expected
VWWm Please,
( trP 5r'Y ?ft. 1
mlX-:ramsE1.
VIEWS OF THE LARGEST
FURNITURE AND CARPET HOUSE
IN EASTERN OREGON.
to exceed 200 later on.