Daily capital journal. (Salem, Oregon) 1903-1919, 1912-07-11
IMMENSE
HOLDINGS OF
RAILROADS
DEAL ON FOR SALE OF S2.OOOOOO
TRACT-WITH THIS COMPLETED
RAILROADS WILL OWN S0Ltp
TRACT OF 90 BLOCKS WORTH
s3OCCO,OOO.

The Oregonian OF Monday says
Purchase OF two blocks OF ground in
the vicinity Of the site of the proposed
$2,OOO,OOO union depot will probably be
closed within the next 10 days, the
buying agency being the Hartman
system. Options on the property were
secured a few days ago through J. W
Morrow, tax agent of the 0.-W. r &
N Co. The two blocks are valued at
SO. 100000.
The two blocks are bounded by
Ninth, Tenth, Hoyt and Johnson
streets and title is held by six indiyil-
ual owners The only improvement of
a substantial character is the brick
warehouse Of Woodward-Clark COM
pany, wholesale druggists, which oc-
cupies the quarterback at the south
east corner of Ninth and Hoyt streets.
With the acquisition of this proper
ty by the Southern Pacific, the entire
tier Of eight blocks between Ninth and
Tenth streets north of Hoyt street to
the water front will be in control of
the Hill and Hartman interests, the
Spokane, Portland & Seattle ownng
the six blocks directly north of John.
son street.
Early Agreement Expected.
That the purchase of the two blocks
is the last important step by the rail
roads toward perfecting their plans
for the erection of a new union dopot
to cost at least $4,000, 900 is not denied
by railroad men. Confer ence5 held
last week between Carl R. Gray, pres
idert of the Northern Pacific; z r.
Calvin, general manager Of the South.
ern Pacific; ]. d, Farrell, head Of the
Southern Pacific lines in Oregon, and
other officials add strength to the re.
port that an early agreement will bC
reached in the union depot proiec,
Enlarged shipping facilities, It is ad-
mitted, are greatly needed Portland
rapid expansion during the last few
years and prospects Of a still greater
growth make 1t imperative to provide
more space for the handling Of boil
freight and passenger traffic.
In addition to the pending acquisl
ton Of the two blocks north Of IToy
street, the Southern Pacific has Leel
Negotiating for water front propert,
at the foot of Eleventh, Twelfth auC
} Thirteenth streets. This property ha,
frontage on the river Of about 90t
feet and covers large area. Tn,
property is owned by the Northwes
Improvement company and is valued
at $2OOO,0OO. In this vicinity the Spo
kane, Portland & Seattle controls {
large section Of water front and ad
Icining property
Railroads Increase Holdings.
When the two blocks north of Hoy
street are taken over by the Southern
Pacific, the two railroad systems viii
own solid area Of ground north o
Iioyt street and east Of Twelfth street
bordering on the water front. The
combined holdings OF the two road,
aud the Northern Pacific Terminal Co
ircluded In those limits will aggregate
total Of about 60 blocks, valued be-
tween 100000 900 and SiOOOO,O 900, The
present holdings Of the Spokane. Port
land 4 Seattle west Of Eleventh stree
and the prospective purchase by tl,
Southern Pacific from the Northwest
Improvement company would hrm.
the total value Of the railroad proper
ty in that district up to approNimaieh
S5o,OOO,OOO
Besides this activity the hin and
Hartman lines are making extensive
improvements in the East Side ship
ping district whore about S6,O0O,OO
will be expended by the two roads dur.
ing the next two years The South
en Pacific also plans to enlarge II,
carshops on IIolgate street. besides
electrityng its West Side lines mt,
the city In It's electrical development
the Southern Pacific will acquire ad
ditlonal property ON the West side
-Four blocks TO provide for termlna
facilities for the electric system viii
probably be added to the systeinl
city holdings.
The carshops for the electric syster
will be established at oswego. Abou
100000 worth Of material and ma
chlnery has been assembled for IN
obwego plant
II you are a housewife YOU canno
; reasonably hope to be healthy o