The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-11-23
The Query is Most Satisfac-
t0rily Answered.
THE REAL ESTATE BUSINESS.
The Meeting at the Chamber This
Evening - Pointers From the
Deslers-GenersI Notes

sey & Gillespie. And the answer was
unequivocally that no better invest
ment was afforded at the present time.
1t would be surprise if one closely
connected with the disposal of realty
and the renting of houses were to make
Luch an inquiry. For it is notorious
that only with difficulty can houses
which are desirable be secured by per-
soss who want to rent, and the most
outrageous rates are ohtainable for
places in which to live. The reason
that the renting of houses is so high is
two fold. In the first place they are
very scarce, and there are. very few
houses in the city with all the modern
improvements that can be rented, as
they are occupied by their owners, and
those to be had command almost any
figure. Then again, the practice is to
surround the house with great deal of
ground. The ground costs money and
the man who rents a house feels
that he should have interest on his
entire property and wants to make
| the renting of one house paw
interest upon ground that affords room
for the building of perhaps three
houses, judiciously handled. The result
| is that when he talks about the rent he
gets from his house he contends that
returns are abominably low. forgetting
that he has the ground for three houses
| included in the rental price of one, and
that the man who rents does not ordi-
narily care to pay for a large area of
ground. his desires being confined to
comfortable home and only ground
enough upon which 1t may stand with
out squeezing. This is what has given
the prevailing opinion that there is
very poor money in building houses to
rent, and it is also the cause for rents
being high. If q man would put up a
row of houses or nice tenement, giving
to each house all the modern
improvements, be would find it one
of the best paying investments that
could be devised and his house never
be tenantless.
A GENTLEMAN was overheard talking
with Mr.. T. r. Jones, the banker,
on the street crossing yesterday. Said
he, when l came here about six
months ago l found everything ex-
tremely quiet, notwithstanding the
talk concerning your prosperity heard
throughout the east. To-day | find all
the symptoms as healthy as can well
be, and there are indications of this
being a place that will have steady
and very rapid growth. The prospect
is thoroughly encouraging. This gentle
man has been searching for place at
which to begin the manufacture of the
finer grade ofladies' shoeF, snd had been
| attracted to Salt Lake, bat was p.evi-
ously discouraged by the dull condition.
1t is to be hoped that heIYill now find
everything to encourage him. -
| J. NJ. LEFLER has sold half interest
! in his Touring mill, and "a company is
10 be organized at once. The new
management propose I'd invest SIS 900
in new machinery and other improve
ments. The latest improved roller pro-
cess is to be put in within the next
sixty days. and the bull ling is to be
enlarged to accommodate the new ar
rangement. This is what is known as
the Liberty Park mills, located on the
line of the Salt Lake & Fort Douglas
Railroad. When the new order of
things goes into effect this mill will be
among the leading ones Of the Terri
tory.
THOSE interested should not fail to at
tend the meeting of the real estate men
at the Chamber of Commerce this even
lug. Important business is TO be trans
acted and ways and means devised
whereby the interests of the city can be
advanced and its many advantages set
forth in the most beneficial manner.
A HERALD reporter called on q num-
Der of real estate dealers in the city
yesterday with a view OF learning
further as to the real prospects for
movements in city property. The re-
suit will be seen below. All were
thoroughly convinced that there would
be a general increased activity in the
marked providing that property owners
did not advance their present asking
prices. 1t is generally conceded that
property was valued at all the present
condition of the town would warrant
during the spring boom, and if prices
were again advanced the opportunity
for increasing the number OF sales would
be cut off.
Mr.. LYNCH, of the firm of Lynch &
Gles mann, when Intercepted as to the
outlook, said that business in Salt Lake
City depended on two things: the first
was the monetizing of silver as indicated |
in Stewards bill in Congress, and the |
other was the entering into this valley
of the numerous railroads now blocked |
beyond the Rockies. They have great |
hopes of both points being SUCCESS
fully carried out. One hopeful in
dication of the prosperity of the
city is the large amount of build
ing now going on. Sewerage will be a |
great aid to the growth of the city, as
has been demonstrated in the case of |
other cities having sewerage.
Mr.. MILES, of the Boom, said he had |
nothing to say except that property
holders must not advance the price of
their property if they expected to sell.
b. N. GREEN-The property for
which there is the most call just It
present is that which is located near to
business. The kind of q boom we are
to have, if boom you call it, is steady
growth. Investors would perhaps find
it the most profitable to make their
purchases IN various parts of the city,
and thus run no risk of one part grow
ing faster than another.
Mr.. THOMPSON, of Thompson, Allen
p tal hok