Oakland Tribune from Oakland, California • Page 33

rftune VEIOPMENT SECTION VOLUME CII- OAKLAND, CALIFORNIA, SUNDAYJNE 28, 1925 NO. 179 Sag SS Richfield Oil Building MONTEREY HOTEL RICHFIELD The Richfield Oil Building This latest addition to Oakland's downtown business district will be formally opened Wednesday, Formal Opening Set Apr Wednesday, July 1 st FINANCE CQfUlPAIfy IS READY 10 LOI MONEY JT 6 PET. are owners of the building. H. H.

Winner Co. are architects. i Heating ventilation lighting sanitation each represents marked advances over the usual conditions MIMUMIIlllllllBniiilMlil minimal ammmammmmmmmmmmmmm nf TnB 11 If II I1 mfWIMI lyUMiy 1 1 If IHt I li II ntWHIlMMirmn ITITinilwniPlll AVENUE TERRACE GETS RUS LINE Oakland Concer increases Staff and Faciliies to Aid Buildel-s. The Oakland Mortgaga Fi nance Company, thrfough its manager, John Davicfson, haa an nounced that thlaj local concern, organized and conducted- by East-bay men, is now prepared to offer six per cent money. "To meet the.

growing denand for flat and Installment loans, and to provide a ny'ore elastic field for the Eastbay borrower. this com pany Is now Ua a position to make per cent ftyit or Installment loana for five to tyjn year periods in addition to our- regular two and three year 7 per tent loans," said Davidson. i "Keeping pace with our general mortgage and finance business and to give service particularly to tha building Henry Wynne has been placed In charge pf our complete Insurance department This company has been appointed one of the two Eastbay agencies for the Fireman's Fund Insurance Company of Ban Francisco. All types of building bonds. sation, automobile, fire and other types of Insurance are handled through Wvnne's department.

STAFF INCREASED. The addition of James Rya to our staff gives us a comprehensive office management that permlta of a wider and greater service to our Clients." Davidson points out that with Oakland continuing to forge ahead in building operations, with new industries locating here daily, with the real estate market showing a decided Improvement and property values steadily Increasing, the need ota complete mortgage and finance service was never greater. LOOKS FOR BIG TEAR. "We look for the biggest bulldlna; year in Oakland's history; the most active real estate year; the most active Industrial year, while tha bank clearings indicate that Oakland and the Eastbay is unusually financially sound," said Davidson. "In the develo-iment of Oakland and her sister cities, comprising this great Eastbay community, tha Oakland Mortgage Finance Company is ready to do Its part both as a finance company, financing home and office building through out mortgage department, protecting the builders and owner through our insurance department.

and encouraging more and extensive building through out flat and instalment loan department with six per cent money." Specialists in SELLING AND LEASING Business Property 7th Floor Oakland Bank Bid. Twelfth and Broadway standard for offive-buildlng construction. Artificial ventilation is furnished in addition to amble natural ventilating facilities. Individual wardrobe closets and wash-stands are provided with each office. In addition there are retiring rooms both for men and women on each separate floor, as well as large toilet spaces in the basement.

Few, if any, buildings In Oakland have as splendid sanitary arrangements as have been provided by the Yerxa-Steves Holding company is planning and building the new Richfield Oil building. The entrance foyer and the individual floor lobbies a.nd corridors carry out the same ideas of individual artistry expressed throughout the building. The decorative scheme of the foyer was designed by the famous artist Wacher and is surpassed in beauty by few buildings of any kind on the Pacific Coast. All the corridors are floored with Llnotlle, combining handsome appearance And unlimited durability with absolute silence. Marble laasa boards add to the attractiveness of the lobby and corridors.

All stairways are also floored with tha noise-reducing1 Llnotlle i No expense has been spared by the Yerxa-titeves Holding company in tneir attempt to make tne new Richfield Oil building the most modern, completely equipped and finely appointed structure of its kind In Oakland today. No detail, however small, has been over looked and every item of con struction, finish and equipment is of uniformly superior quality. All tha latest ideas in office-building improvements have been included in the design of the new Richfield Oil building, and these have occa sloned immediate and enthusiastic comment on the part of every one who has been privileged to view tne interior of this new structure. The Yerxa-Steves Holding com pany, owners and builders of the new Richfield Oil building, is an outgrowth of Yerxa-Stexes, well-known Eastbay real estate firm, who are also the agents for the new These two companies are officered by the same Identical personnel, Thomaa L. Yerxa, Herbert H.

Yerxa and C. Steves, being the -principal execu tives oi Dotn companies. Oakland residents are familiar with the impressive growth of tte Yerxa-Steves interests. Quite re cent4y, Yerxa-Steves, consum mater the sale of the Morgan cor ner at Nlnteenth and Webster, The Yerxa-Steves Interests also control the 40 -acre Legorio Tract in Elmhurst, an unusually fine in dustrial tract which is within the Oakland city limits. Clifford M.

Steves has been a familiar figure in Oakland Industrial circles for a number of years. He has long been connected with R. C. Durant in his various automotive undertakings, both as a manufac turer and as a distributor, and is now ssociated with Durant in the Flint distributorship for the Pacific Coast. Thomaa E.

Yerxa is -tha active head of the Yerxa-Steves, and is recognized as one of the keenest minds in the realty business in northern California. Herbert R. Yerxa, Thomas E. Yerxa's father, faaa extensive In terests In southern California, his principal noiaings being orange groves and ranches at Yerxa, California, near Redlands. He came to California originally from Minneapolis, where he was an active fig ure in the field of commerce.

The Yerxa's have now concentrated their Interests In the Eastbay re gion, as they consider that Oak land haa the brightest Industrial (Continued on Page 5-M.) ES First To Establish Quarters In Office Building Bearing Own Name. Richfield Is the first oil company to establish Its own office building In Oakland. The Richfield Oil Com- sees clearly the tremendous uture ahead of Oakland and the East Bay section, and has therefore selected It as Its headquarters for Northern California, Oregon and Washington. Not content with building a large plant with sufficient storage facilities to satisfy the demand for Richfield gas and Rlchlube oils throughout Northern California and the entire Northwest, Richfield has also established an office building here which bears their same. Ideally situated In the very heart ief Oakland's new and greater downtown district, the new, hand-ome $300,000 Richfield Oil building Is a great credit to the City Itself.

Here are provided adequate accomodations for the entire office personnel of this large and fast-arrowing company, with everything arranged for the attainment of a new maximum degree of efficient. Provisions have also been made for expansion, for with the constantly growing volume of Richfield business in Northern California, Richfleld's demand for Increased office space has brought about the imperative need for the commodious quarters that they now occupy. C. W. Cumbers, district manager here for Richfield, is enthusiastic over the company's new headquarters in their new building.

Combers a veteran of over 16 years- experience in the oil business, has accomplished great things for Richfield since coming here as manager for the Northern California district. He is ably assisted by Emil A Troth, another executive of many years experience in the oil Industry. "Richfield has already done arreat things In California, aiid bigger achievements are yet to come," predicts Cumber. "The Hiculielrl Oil Company realizes the fast-Increasing industrial possibilities of the East Bay region and aims to keep pace with Oakland's growth. "Since Richfield's fiist Introduction in Northern California barely even months ago, it has made tremendous strides forward in popular favor, and has attained a sales volume unprecedented in the entire oil industry for so brief a period time in the field.

Today, Richfield is one of the big leaders in total volume of sales in the East Bay territory, with over 148 dealers definitely established. We have Invaded Sacramento, Stockton, Chfco, Mar.sville, Reno and many other leading Northern California and Nevada cities. "Everywhere throughout the East Bay territory and throughout the Interior valleys the landscape la now splashed with the Richfield colors Blue and Gold. The company's entry into the East Bay territory has been one of the outstanding sensations of the oil trade. fCey Route Cancels Passing Track Plan The Key System Transit company has decided not to Install a passing track on San Jose avenue In Alameda.

At the request of the company, the Railroad Commission has revoked the authorization for construction, Issued to the company upon Its recent application. State Cuts Fourth Of Softwood Stand California has cut one-fourth ef its original stand of soft wood timber. It has remaining 15 per cent of all the standing timber In the United States, more than any other state except Oregon. CONCERNMAK RECORD GROWTH ONUSGHE TO BEL The $1,000,000 seaside hotel, planned for early construction on the properties of the Aptos Beach Country "club at Aptos by the Sea, will be a landmark of Monterey bay. The site, a wooded knotf within a minutes walk or the Aptos Casino and beach, commands a view of the sea and mountain.

Sixty hotel apartments, twelve suites and 200 rooms all with baths are Included In the plans being prepared by Architect Benjamin Schreyer, according to Monroe, Lyon Miller, owners and builders of the Aptos club properties. The amusement and diversion section of the Aptos club hotel will contain a combined ballroom, auditorium and moving picture theater. A salt water plunge will be located on the ground floor, with gymnasium, handball and squash courts, billiards, bowling alleys, Turkish baths and steam rooms. Moorish gardens will oc-ucpy the terraced roof over the dining rooms. Spanish architecture Is being used.

Plana for development of the Aptos club are being rushed, and many miles of boulevards, roadways anc bridle parths have bfcen constructed. Aptos Beach drtve, the 100-foot boulevard from the Coast highway to the beach and esplanade, is now open for automobiles. The properties are being sold under the club owner-membership plan, which gives every lot buyer a proprietary Interest In all club lands, buildings and assets under guarantee by a trust fund In the hands of the Western Title Insurance company, trustees. Oakland offices of Monroe, Lyon Miller are located at 446 Nineteenth street, under the management of H. Howe.

ENTERS EASTBAY R. H. TT.irt mpnoo-or tv a Hart announces that mortgage naicn uj. ryB xvauonai Mortgage COmDanV Of Sn Prn nxlonn Voa been taken over by his company, as ewmsive representatives lor the Eastbay cities. Speaking of the advantages of this type of security rom the standpoint of the Investor, Hart states, "These mortgages carry 7 per cent Interest, an attractive rate for the conservative mjji or woman.

The security Is Improved Oakland real estate, and the amount of the loans Is approximately only 50 per cent fthe value of the property. We relieve our customers of all details in collecting- nrlnrlnlA ni and should the buyer of one of our mortgages require his money before the repayment of the loan Is due, we will refund It to him at a small charge." "The National Mortgage company, Hart continues, "desires to place at least a million dollars In Oakland real estate, as they feel that Oakland Is a sgood a field for their morteaeea am Son Tri cisco." COFFEE CUTS CAPERS. Due to market disturbances, coffee somAtlmen rrnai srtat ing the past year in San Francisco man in soutn America. () (0 () OIRICTON MARRY a. ANOIRaoN w.

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L'HOUUIDiaU ME ANDMAM MOB GAGE FIRM ULr-' AM AVA A housewarmlng such as no privately owned Oakland building has ever before received will mark the official opening of the new Richfield Oil company building at Thirteenth and Franklin on Wednesday, July 1. Thia magnificent new building, situated right at the heart of Oakland's greater, downtown district, will be thrown open for public inspection at 9 o'clock, Wednesday morning and will remain open until 11 p. m. Throughout Wednesday evening the entire building will be brilliantly illuminated by a whole battery of powerful Flleg lights. There will be a musical program to entertain the visiting throngs.

Refreshments will be served and every visitor will receive a souvenir as a memento of this Important Eastbay event The magnitude with which the opening will -be celebrated is in keeping With the importance of the new building to Oakland. The new Richfield Oil building is not only one of the finest and most modern business structures ever erected in this city, but it also marks the establishment of the first "oil" building in the Eastbay region. Erected at a cost of over the new Richfield Oil building stands out as one of the most handsome structures In down-town Oakland. Provision is made for the possible Increase In height of the building from Its present five stories to seven stories at some future date. The entire building Is unusually artistic in design, both Inside and out, even down to the smaller details of construction; It is re-enforced with steel and is surfaced with granite brick, beautiful in appearance and so durable that it will be in Just as good condition one hundred years from nowas today.

Credit for the successful completion of this magnificent buildings belong to H. H. Winner and Ernest F. Reese of the H. H.

Winner company, -architects; R. Cloney, builder and to the Yerxa-Steves Holding company, its owners. Congratulations' have been pouring in upon Thomas E. Yerxa, Herbert R. Yerxa and C.

M. Steves, the officials of this company, from those friends who have been privileged to inspect the new building in advance of its scheduled opening date. In addition to the entire fourth floor, which will be occupied by the Richfield Oil company, a number of stores and office suites in i the new building have already been leased, according to Thomas E. Yerxa, E. F.

Hutton and Company, members of the New York Stock Exchange, have taken spacious quarters on the ground floor of the Franklin street side of the new building, which have been converted into one of the finest and most cbmplete establishments of its kind in the entire West. The Missouri-Pacific, Western Pacific, Union Indemnity company, C. M. Cass and R. W.

Kroupa, and a number of other leading concerns have also taken, apace already in the Richfield Oil building. There still remain a number of choice store and office locations in the new building, according-- to The' offices, like the exterior of tha bulldlmr. are unusually artlstio In design, appointments and fin ish. Every arrangement is Dasea on designs approved by experts as most conducive to business efficiency. The entire interior finish is in North Minnesota Birch, fur nished bv the Young Bash ana Door company.

This finish la not only exceptionally beautiful but is of the most lasting quality. The walla are painted, instead of the usual tint finish. The floors are covered with extra-durable Armstrong linoleum, designed to re-Droduce the appearance of fine rugs, the color scheme being gray with a deep black border. DIRECTORS! Liana w. kink S.

LYON a. p. MURooaa SDW1H M. OTIS a. a.

Panama S. M. TILDIH N. WILCOS MARTIN aRKCN, a(N. -A OUTLOOK TOWER ON HIGHLANDS DRAWS THRONGS Motorists turning to the boulevards for comfort throughout the long, hot evenings of this last week have visited Oakland's new observation tower on Montclair Highlands in large numbers, according to reports coming from the tract.

A drive along the upper boulevards of the Eastbay has a double attraction at this season. The roads pass along the side of the hills facing the bay, where the first cool breezes direct from the Pacific may be caught before the heat from thousands of roofs have robbed them of their invigorating properties. It has been a popular practice for years with bay motorists to make extentlve use of such drives as Skyline boulevard for this comfort as well as for the view from many points. Now that a special oDservaiion lower duiii on what is said to be one of the coolest as well as the most scenic spots near Skyline boulevard the attrac-J tion of the drive Is measurably Increased. "Two things about Oakland's new observation tower surprise people who visit it for the first time; first, the strong, permanent character of the tower's construction; second, the magnificence of the view which is secured by looking from Just the right spot," says C.

P. Murdock, vice-president and general manager of the Realty Syndicate Company. "Without exception, it has added greatly to the pleasure of visitors to have field glasses and a powerful telescope available for their use." Electric Range Wins Favor in Portland Portland, apartment dwellers are taking kindly to the electric range, according to electrical Industry reports. Sixty-four apartment houses in Portland are equipped with 1489 electric ranges. July I.

Yerxa-Steves Holding Co. FUUCE EXPERT Use of gas for home heating Is becoming more and more popular every year, says J. ti. D. Keppy, manager of the local factory braach of the Ward Furnace company, in the Building Material Exhibit, at 14th and Madison streets.

"The home builder Is recognizing the convenience and small space requirements In the use of well designed gas heating appliances," he declares. "The modern, sealed, and properly ventilated gas heating appliance is the equal in safety ol any hea'ting device made, no matter what fuel Is used, and has eliminated the smelly, dangerous heater of former days. Investigation will prove that by modern methods, gas heat gives high efficiency, economy, cleanliness, and great convenience." As evidence of his claim, Keppy points to the increase of business in the-Ward Furnace plant, where business is said to have doubled itself every six months for the past three years. Power Co. Will Sell Gold Bonds California-Oregon Power eom-pany has made application to the railroad commission for authority to Issue and sell 1600.000 of its first and refunding mortgage, sinking fund, five and a half per cent gold bonds, Series to net not less than 86 per cent face value, plus accrued Interest.

Applicant proposes to employ the proceeds from the sale of said bonds for the purpose of completing Copco Plant No. 2, and to reimburse its treasury for money spent on capital account. Avocados Are Food, Analysis Reveals Avocados, commonly regarded as of slight nutritive value, contain, besides active vitamins, a high percentage of fat and protein. Wm. H.

Donahue Ptcitdtnt Ira Abraham lit Vtca-Prea. and Geo Mgr. W. Woolaf 2nd Pr. B.

A Btelnbaeb Secretary XBCTTIVB COMMITTEE 8 Rohlnaoa Chairman Wm. Dona baa John 8. Dram Woolaey John i. MrlMinald Ira Abraham Joa. R.

Know I and Btuart 8. Hawler aaaaaaBBaaaaaaaaaaaaaawniiaaaMiiiMi 1 Silo i I i With the extension of the Thirty-fifth avenue bus line service, which started Monday, Avenue Terrace now has direct transportation connecting with the Hopkins and East Fourteenth street car lines. Continued Interest on the part of the buying public Is keeping up a very satisfactory volume of sales, ac cording to Arthur P. Crist, sales manager of the subdivision depart ment of the E. B.

Field Company "At the present rate of sales it will only be a few weeks before Avenue Terrace will be sold out," Crist said. "The wholehearted fashion in which the development work is being rushed so as to make home-building possible at the earliest possible date has stimulated buying both on the part of those who purchase either for investment or for home-building. "The constant activity In street work will be followed very soon by still greater activity on the part of home-builders and then another section will be added to the East Oakland home area." Time to Meet Law Is Given LineCompanies Viva companies ttDDlled for and were granted extensions of time In which to comply with statutes governing installation and maintenance of overhead lines of communication. Four extensions were granted to Nov. 1, 1926, and the fifth to Oct.

19 TO STERILIZE OLIVES. The California Olive association nam 'iindprta lten n. rnmnnltrn for more thorough sterilization of green iruic. CREDIT at-CASH PRICES EY I yad mmk HON A. INK No Interest Charges No Carrying Charges OFFICERS Notice to the Public A.

STANLEY 4. IH1TN, aaa'T-TSIAB. Till Insurance Building that. tells the story of the Oakland Mortgage Finance Company's latest contribution to East Bay development. This company now offers the borrower 6 money on either flat or installment loans for five and ten-year periods.

151 INCREASE for May, 1925, over May, 1924 This splendid increase In our business indicates tha rapid development in the growth of tha Eastbay Communities, and also testifies to Our Ability to Furnish by Modern NTbthods Complete Punt Equipment and Compbtbnt Employebs. PROMPT ACCURATE COURTEOUS Sionificant -o Leadership The titles for the monumental We aim to sell all merchandise on Credit at the standard Cash Prices. We urgently request that if you should find an article in our store not so priced- tell us that we may correct the error. TITLE INSURANCE SERVICE Western Water-front deal were examined and guaranteed by Oakland Title Insurance and Guaranty Company, as have the titles for 90 of the water-front skirting the thirty miles of water-front from Richmond to San Leandro. ONLY OALAND TITLE INSURANCE) AND GUARANTY COMPANY'S organisation, equipment and financial re sources can give the adequate title service and protection demanded by those who put through such stupendous transactions.

inese same services and protection are available to you in the purchase of A complete insurance depart merit it another feature of our service. This company now represents the Fireman's Fund Insurance Company. a nome The oldest, the strongest and best equipped SAFEGUARD YOUR INTERESTS -and save time in handling tha many important details by closing realty transactions WITH OUR ESCROW DEPARTMENT, All Till Insnrmc Compmht In CMr mmitr th imftrvMon of tkf Stat lnturanc Commisilonr, and mit eomph milk tmSAMB rtquirtmtnttVipmsitint 100,000 Guar ant fni milk Ml Stall Trtasurtr. BE SAFE-DEMAND TITLE INSURANCE HAST DW TITLE INSURANCE COMPANY 1430 FRANKLIN STREET, NEAR 15TH. TELEPHONE OAKLAND 702a OAKLAND, CALIFORNIA 'jACRSQKTS Complete Home Furnishing fM Department StoreOahlan Clay Street Telephone 14th Street Lnkenult 13th Street 7V.

title insurance ctwuy vi amrit.uH CzllilDiidTitlo Iiicuranco and Guaranty Company Aiscti over $1300,000. Fifteenth Street, at Franklin OdMand iVSorttfdeJFinanceC: H3ranWn St Phone Lakeside 2866 Telephone Lakeilue ,5700 zzzzzz..