East Oregonian : E.O. (Pendleton, OR) 1888-current, 1909-06-28


ing OF Realty Men.
Chicago.-The National Association
of Real Estate Operators, which met
in annual convention in Detroit, Mich,
last week was by far the most sue
cessful and most important gathering
of realty men ever held in this coun-
try, and was the first of these big
the Union was represented.
As a matter of course, the upper
most subject in the mind OF every
realty dealer at the convention was
how to sell property. one might con-
clude that in a business represented
by thousands of the brightest, shrewd-
est men in the country, this problem Of
selling property had long been solved.
But these real estate agents who, by
| the way, are the real builders Of cit
les, Fealize their shortcomings more
fully than almost any other business
class and are constantly ON the alert
for new ideas and better methods.
They are after business, and the more
they get the more they want. SO they
| headed for Detroit in droves and there
underwent a careful introspection in
order that they might discover where
in they were lacking.
Present Startling Statistics.
A great many interesting questions
were discussed at the Detroit meeting,
and some startling statistics were
read, showing the enormous increase
in realty values in the past 10 years
throughout this country.
When the census bureau experts
took stock Of Uncle Sans realty hold
ings in 1906 they found their aggre-
gate value to be more than s62 ,000,-
100000. That is approximately equal
to the aggregate wealth of John Bull.
1t Is more than the total wealth OF
France. the richest country in Europe,
and much greater than that of Ger
many. 1t is nearly double the total
wealth Of the Russian empire, and
equal to that Of all the rest Of Eu-
rope taken together, which includes
Austria Hungary. italy, Spain, Portu-
gal. Belgium. Denmark, The Meth
erlands, Switzerland all OF Scandi-
navia, Greece, the Baikin states Eu-
ropean Turkey and numerous princi-
palities.
II the ratio of growth of realty val
ues has been as great since 1904 as
1t was from 1900 to 1904 and there is
no question that it has been much
greater, the Forthcoming census will
place the total value in 1910 at some
thing like SIS. 600, O00. GOO.
Worlds Record Price.
Four dollars a square inch stands
as the worlds record price for real
estate. II was made in New York
few years ago. when plot Of ground
on Wall street sold for $500 n square
foot. Even London can not boast -
any such figure, IT'S best record being
under S40O a square foot. Paris.
Berlin, and other great cities of Eu-
rope even come below the London
mark. In a number OF the cities of
he country men have seen realty val
les rise many thousandfold, Men
ire living in Chicago now who were
living there when they might have
bought property by the acre for al
most what Is now selling for per foot.
The principal cities OF the United
tuN IL. 49, ~.
assessed land values in the two year
,oriod of 1906-190S. New York leads
With an increase amounting to S9S3,-
'OS,544. Chicago comes next 645,- I
35. Othes cities follow in the or {
Ter named: Pittsburg having increas- I
d her area from % square miles to ,
bout 40 square miles. S24S,S2O,219; /
Il. Louis, S91,549,995; Cleveland. $72,- c
59.24O; Philadelphia, $71,32S,71O: I
S65,525,96S Boston, $49,- 5
$4,000; Detroit, $29,05S,25O; Buffalo. II
21,577,205. 1t is claimed that no city e
n the world shows such rapid in s
rease in land values as is shown in il
ne foregoing list
Western Realty Values. a
A recent investigation into realty
alues in the principal cities of the
orld brought to light the fact that
alues have increased far more rapidly il
J the progressive western and south o.
m cities than in eastern cities of the
lme class. The result of this investi-
alton showed that in Baltimore,
hich is but little larges than San N
the highest price per from, II
'ot paid for business property was a
1000, while similarly located hold ci
e in San Francisco has sold for $10,- l.
30 front foot. Seattle, with a pop
ation comparable to that of s..
aul, showed front foot record or f
1900, as compared with $4,000 for ct
3. Paul. Minneapolis, with a popu- n