The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-06-15
OUR MILLI0NAIRES.
Men Who AmaSsed Fortunes by
Investing in Salt Lake Realty.
THE MEN WHO OWN THE EARTH.
People-HOw Some Starts"
We're Made.

became mlillonalreS in such short time as
Salt Lake.
Men who but few years ago were reck-
oned worth $4,000, by a single turn of the
wheel OF values, now rank as millionaires,
and can take tour of the world every year
without cutting much of figure in their
annual income
The freak of fortune touched every land
holder in the city, and many poor people
suddenly became rich. AS nearly every
old resident owned the house in which he
dwelt, the appreciation in values fell like
benediction upon all the old inhabitants of
the city, i'll more or less degree.
County Recorder George M. Cannon,
who has watched the current of fortune
carry every man who stood in its way to
the haven OF afltuence, impaired such in
formation as fell within his observation to
HERALD reporter:
After the Brigham Young estate, which
has been largely sold and divided among
the numerous heirs, the William Jennings
estate is the richest in the city 1t includes
property in almost every part of the city,
Main street and First and Second South
streets. The Emporium building is the
most valuable block owned by this estate.
THE Walker Bros, L think, rank next,
their property including SONG of the most
valuable corners on Main and Second South
street, besides good line of very valuable
suburban property.
Next to the Walkers comes the Groes-
becks, who have gold mine of Main street
frontage and good business property on
First and Second South street.
The Eldredge estate holds great deal
OF realty, much of which is in acreage the
most OF the business property being on
Main street
John E. Dolly is quite wealthy in
realty, and owns the old Gilmer tract,
east of Liberty park, being one of the best
tracts in the whole valley, and some very
valuable property on West Temple, near
the Ontario hotel
81. S. Hills, cashier of the Deseret Ma
tional bank, has extensive real estate in
terests both personally and in corporations
in which he holds stock
wv. s. Mccormick holds considerable
real estate, though the bulk of his vast for
tune is in mining and other industries.
II. u. Weber, superintendent of the
z. Z. M. l., who formerly owned the site of
the Hotel Ontario, isquite W ell off in realty,
though the bulk of his fortune is in stocks.
'Ex-Mayor Francis Armstrong, who is
president of the Utah Commercial and
Savings bank, never sold a foot of ground
until year or two ago, except one piece,
and that was in case where he made "a
give or take offer, and the other fellow
took him. With his fellow directors in the
bank, he represents S2,GO0,OOO.
1.-The Richards family had short time
ago-before Levi w. Richards sold his land
to McCornick-in the neighborhood OF
three hundred feet frontage on Main street,
located north of First South. At the rate
he sold to Mccormick the balance would not
sell sor. less than 100000.
''The Auerbachs came here in the early
| days with load of merchandise and made
their start from very humble beginning
To-day their realty in Salt Lake would
represent close to million, while their mer
chandise and other property would net as
much more. He once told me how the
blankets he brought here that cost him but
little, sold like not cakes, yielding him from
800 TO 400 per cent. profit
One of the most uDpretentious men il
Salt Lake city is George Romney Yor
will find him all ali over town superintend
ing buildings, and he never INDUCES in s
carriage, but either takes his legs or
street car at nickel fare. He has ONT
piece OF property ON Main street, Just soutt
of the White house, that would alone bt
enough to keep a half dozen men in ease
He is partner of Geo. H. Taylor and is ;
heavy holder of stock in q. c. M. 1.
George H. Taylor is partner will
Romney and Armstrong in the lumber
business, and these three, with Thomas
Lafimers established the business that ha.
since grown into that great Commercial
enterprise known as Taylor, -Romney
Armstrong CO. This firm were all pool
men when they came here, and to-day
without doubt, represent the creates
amount of wealth among the Mormon 'peo
pie found in any one firm.
wv. H. Rowe, assistant superintendent
of the z. G. M. L, and in charge of all he
manufactures, is largely interested in rea
estate, also in stocks.
Geo. M. Scott is large holder of rea
estate, owning the Scott-Auerbach buiIdinl
and the building just west of the propose,
postoffice site
spencer Clawson has probably mad
more money than any other young maj
among the merchants, and has built up
large wholesale dry goods house, beside
investing heavily in real estate about tn
city.
Mrs. VIM Jennings is the richest wild
ow in the city and the yearly income O
the property that stands in her nam
would yield sum that would make man
men think they were very ricn.
1.-The Feramorz Little is another rio
estate, though he sold large amount G
property just before his death. The estat
owns over third of the ten acre bloc
is being erected. The estate is incorpor;
ted and is now held in the name of tn
Grand Hotel company.
There are moro poor people ownin
their own homes here than in any othe
city in the world Of its size. It's not onl
the poor who own property here either a
we have some of the most noted persons i
the world, including Lilly Langtry who's
holdings have increased at least 300 pc
cent. There was one tract that was Of
fered to me for $1,000 of which she purci
ased u part that could be readily sold, 6
& present values, for $4,000.
"a favorable method of outsiders in pu-
chasing land is to hold it in the name of
trustee. think that the most none
recently made out of real estate was O
Third South and First East, the parties O
West Temple holding on to their holding
with great firmuess.
among real estate agents 1 thin
j Kelsey & Gillespie made more money b
buying for themselves than any othC
; agents.
One of the first men who Shove
any faith in Salt Lake property w;
! Louis Ehrichs, of Colorado Springs, WI
came here In March, 1887, and investe
every cent he had and all he could borroy
He bought one block for $4,000, just mort
of Liberty park, and you could not touc
5 the same block to day for $780, Til;
J was only one Of the many profitable tran
g actions he made.
"Alex. Q. Smith, an old soldier, fro
Burlington, Iowa, followed Enrich, ar
while he put in more none
he did not take more GU
He bought oniSccond South, west of Mule
t & Paulis livery stable, that two-story 70
e of buildings for $4,000, which 500, O
would not touch to day. He also bought ii
the corner south from the ST. Elmo at VIII
was considerable big sum then from IL
Walkers, and several hundred acres aero