Daily capital journal. (Salem, Oregon) 1903-1919, 1912-06-08

nevertheless, Salem is enjoying a very
healthy boom.
The frequent large transfers, the re-
ports from the real estate offices and
the records at the recorders office
bear out this assertion.
To those who have observed the
growth of this city during the past
five years comes the natural conclu-
sion that the residence portion of the
city has far out-grown the business
section and this one-slded growth has
at last forced an activity in the bust
ness district of Salem which is causing
old-timers and newcomers alike to sit
up and take notice.
For years It was next to impossible
to get owners Of business property to
name a price at which they would sell
and when they did quote a figure the
price was exceedingly low, compared
to like property in other cities on the
coast, yet these prices were consid-
cred eXorbitant and almost prohibitive
in Salem.
Take as an example the Verani cor
ner on State and Liberty streets
About year ago VIM, McGilchrist, Jr,
purchased this corner for the stated
consideration Of $4,000, Less than one
month ago the same property changed
hands at an advance OF about $4,000
yet when Mr. McGilchrist purchased
the lot many said he was a candidate
for the school for easy-minded folks
A dozen such instances could be
cited where wise investments have
been made and handsome profits real
lied within few months or year.
That the so-called boom does not
rest solely in transfers is proved by
the great amount of building going on
in the city The Masonic temple the
Hubbard block, the Derby-Lafky build
ing, the two new school buildings and
the scores of handsome homes now in
course Of construction bear striking
evidence of the substantially Of the
boom now doing duty at the Capital
City.
For years Salem was known as one
OF the slowest towns on the coast.
Travelling men were glad to have their
visits over with and leave the town be-
hind Today these knights Of the grip
stoutly maintain that Salem is the
best city of its size on the Pacific
slope. These statements are valuable
coming as they do from class of men
who are constantly on the road and
have an opportunity Of knowing
whereof they speak The railroad ac-
tivity has had considerable to do in
waking up this old town. When the
Welch interests bought block 30 for a
depot site there was turned loose
about S150,000 which has nearly all
changed hands as those who sold to
the railroad have since purchased
other property and those who have
sold to them have not been slow in
naming figures far in excess of prices
heretofore quoted
The Oregon Electric has opened NJ
fine section south of town and has
had the effect Of inspiring confidence
anew as many remember how its first
entrance into Salem helped this city
The Salem, Falls City & Western
railroad is actively at work on its fine
steel bridge across the Willamette and
has completed Its purchases for right
OF way beyond Capitol street to enable
it TO Join the man line Of the Southern
Pacific. The deeds have passed TO the
Oregon & California Railroad company
for the Salem-Durbin line right-of-way
and work Is now under way on this
line.
Without doubt the largest body Of al
good land will thus be brought wlthir
easy reach of Salem when this line
and the proposed direct line to Silver
ton Is completed, The last named
route passes directly through Howell
Prairie, oregon's choicest farm dis
trict.
With all this building, with thes,
railroads In course of construction
with an enormous amount Of stree
and sewer work under way and al
up-to-date street car service promised
under the new management, there Il
title wonder that Salem is growing al
Il ls.
Fifty thousand in 1915 does not lool
as impossible as It did two years ago
Those who have seen other cities taxi
on rapid growths win admit that Sa
lem has a splendid chance Of reaching
the $4,000 class within the next thre,
years.
The real estate men Of this city havt
been having a busy season and repor
some good sales.