The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-02-05

south OF the StuQeDAKer property.
think, however. they paid entirely too
much for it. (Broad smiles from Will
liens, who expressed himself as being
satisfied with his bargain).
M. BISHOP.
In May, 1888, was in the real estate
business, and tolerably familiar with
the value of property here. I think the
property known as the A. N. Cannon
piece, on which the church stables are
situated, is worth about 5000 per front
foot, and possibly about 81, 600 for the
piece back-about SIT 800 in all. Ihave
not taken into consideration any i'm
proyements. On the 81 day of March,
1887, it was probably worth 20 per cent.
less. The old Constitution property,
fifteen reds on Main Street and i've roUs
on South Temple Street, excluding
the 'CouEcil House corner, would be
worth, should judge, the frontage on
Main Street $3.50 per foot, and that on
South Temple $3.50 per foot, or total
value of $l23. 900. [ cave not takeninto
consideration the value of the improve
N ents, or what the buildings would
rent for. | don't know that l would
provements. On the I'd of March, 1887,
l should say the same property would
be worth about rs or 81 per cent. of its
present value. On July 9Th, 1888, the
property known as the Wells corner
was worth $500 per foot frontage on
Main Street, and in March, 1887, about
20 per cent. less.
To PowERs-It is my judgment that
% or 80 per cent. in value between
March, 1887, and July, 1888. Property
went up in 1888 to tctitions values, of
course. In valuing this property, L
base my judgment on the general
values. as I have them in my mind,
understand the Richards brothers hold
their property at 900 per front foot.
PoWERS-They haven't sold it, have
they? (Laughter).
To Powers "A clouded title effects
the sale of property. of course. 1 have
been estimating it upon the basis that
The title is good. If the title was
clouded, man might buy as specula-
ton. The market value of a piece OF
property is destroyed, of course, by q
cloud; just to what extent depends
upon the density of the cloud. 1 think
that in 1887, the Scott Auerbach site
was worth at least $1,000 per front
foot.
s. B. wEsTERFIELD.
came here first in April, 1887, and
have resided here since August, 1887
have been engaged in the real estate
business since that time. In my opinion
the Cannon piece or the church stable
| property is worth $l5 900; the improve
ments do not amount to much. ]
could not state what the difference
in value would be between March, 1887
and July, 1888. 1 figure the Constitu-
| ton property as worth in the aggregate
S125 900. in July, 1888. The Wells cor
ner in the same month was worth $780,
900. In the Constitution properly l
have taken into consideration the fact
that the buildings are occupied aud
paying rents this might brace q man
up to buying it at that figure, because it
yields tenn pOrary income. There are
no improvements on the Wells corner
worth speaking of.
ITO PowERs-If there was a 15.year
lease on the Constitution property. it
might enhance the value unless i'm
mediate possession was desired; if the
latter were the case, it would decrease
it. A cloud on the title would make q
vast difference, of course; it might take
it out of the market altogether. Even
If 1t were such cloud that might be
cured by time and the statutes of the
Territory, it would make serious diff
ference. There was big increase IN
the value of real estate during the year
from March, 1877, to July, 1888.
To MARsHALI-Inside properties did
not appreciate in as great percentage
during the time Judge Powers desig.
mates as boom. During the time be
tween March, 1887, and July, 1888, l
should say the properties named ap-
preciated very materially.
To PoWERs-I don't think | ought to
rush in and strain my conscience as to
give an opinion, when there are older
residents here who could give better
| evidence
JOHN T. LYNCH.
Have resided here eighteen years and
have been engaged in the real estate
business about one year. On the 19tt
day of July, 1888, think the church
stable property was worth about 500
Ter front foot, or about SIG, 500, the in
terror about $1,000, or in all $4,000
Ga the I'd day of March, 1887. 1 should
say 1t would be worth about Is per cent
less. The constitution property would
be worth in July. 1888, 81 600 per front
foot, or $123 $50; that portion on South
Temple, 5000 per foot. or a total oil
$l40 $50. In March, 1887, it was worth
about per centless. Theimprovements
are not valuable. Tue Wells corner
in July 1888, was worth $500 per front
foot, running back 165 feet, the thirty
nine feet remaining 5000 per foot-a
total of $54 800. There are no improve.
ments of any value. The difference in
value in 1883 over that of 1887 would
be about Is per cent.
To PCWRRS-That property is outside
the business centre to some extent,
do not know that the old Salt Lake
House property was sold for $500 in
1887, and is now held st 81 800 per foot
rhe appreciation or property on MAR
Street has not been as great. as that {
little to the outside. There has beer
but little appreciation there for ter
years past. l have based my figures
of course, upon an unclouded title. l
there was any litigation pending i
would seriously affect the sale.
JUDGE C. S. ZANE.
Was Chief Justice of Utah in July
1888; remember the filing of a petit
ton for compromise, and the state