The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-18
FABULOUS PROFITS.
Salt Lake Realty Yields Larger
Profits Than a Gold Mine.
MEN WHO ARE COMING MONEY
j. A. Morlan Bought Piece of Property ae
$4,000, Sold it at $4,000 and Bought
1t Back Again at $4,000

it Back Again at $4,000.
Inc profits made in Salt Lake realty dur.
ing the past two years are almost incredi-
Die. AT that time property went begging
at prices that would have been considered
cheap IN cities OF one-third the population
Oh Salt Lake. The hue and cry had gone
out for years that it was not safe for a
GENTLE to own property in Salt Lake, and
'nere We're people in the country foolish
enough to believe these wildcat stories.
Wnlle these rumors were being set afloat.
tle Iong-headed Gentiles already here were
helping themselves to the best of il at
prices so low that they have veritable gold
mines In their possession. The victory of
the Liberal party was noised abroad as a
new era, and outside investors came pour-
ing IN, resulting in an active market with
plenty of buyers.
But there were Gentiles here who saw
ehat there were too many outsiders coming
III 10 snare the fat, and to discourage these
iro1 prospecting In these rich fields circu-
laCed the report abroad that the same con-
dlt1on exists here to-day as existed here
t ten years ago, and to give a semblance to
Gnese 1alsehoods introduced bill in Con-
gress to disfranchise the Mormons.
But this scheme of soaring off outside
investors IS proving miserable failure and
the syndicate of Gentiles who want To con-
Grol all the real estate that the Mormons
are willing to sell are finding that thera are
other men on the ground who know a GOOD
tnlng when they see it, and are not slow in
securing some of the choice corners light
under their noses
Inc newcomers see the same conditions
mere as exist in other eastern cities and
md the Mormons as live and progressive
as their Gentle neighbors, and among the
nunGreds OF new buildings being erected
tne Mormons are doing their full share.
To show the money being made out of
salt Lake realty HERALD reporter Sc,
cured few items that will be of interest
10 the outsiders who is really going on in
Salt Lake.
WHERE wYKER MISSED 1T.
j. A. Fritsch sold to Nj. r. Wyker. O,
Lima, Ohio, 10x7 rods on the corner Of
Third East and Third South streets for
$4,000 about the first of last September.
he resold 1t in a month for Sl2,5OO. A few
days after it brought $3.50 and recently
changed hands at 100000 and now is easily
worth S35, 900.
THE COLORADO CORNER.
A remarkable case of increase in values
was the Colorado house corner, State road
and Third South. A little over year ago
1t was bought for s12, 800, and last Septem-
Der was purchased by j. A. Fritsch. who
soon after sold it for S42, COO At the pres
emit time several parties are anxious to
plank down 100000 on the same property.
THE COMMERCIAL CORNER.
T. A. Wickersham sold to the CONNER
clal Bank company the corner, 97x122 for
s56, 500. This corner is now worth 81 200 a
loot front He also sold lots 10, IA and Is
IN block %, plat A. for $4,000 six months
ago, and the owners have refused $4,000
for the same property. A tract of land
across the Jordan a year ago sold for
800. The owner refused S4C0 for the same
property.
KARRICK's 5000 DEAL.
Zone of the best buys in the city was the
Snow property at the northeast corner of
Second South and the State road. L.. c..
harrick secured this few months ago for
$4,000 and has repeatedly refused offers
on basis of S150,0O0 for this valuable
corner.
GRoEsBECK'S LUCKY BUY.
Burton, Groesbeck s. Co. bought 4115x141
On the State road just south of Third South
at 1915 Ter foot in October and recently re-
=
The Burton Gardner corner sold to E. 3.
Wicks for $4,000 year ago and could not
De bought for $4,000 to-day.
N. ii. Groesbeck sold the piece of prod
erty S2119x165, on Third South east Of the
St. Elmo hotel for $50, 900 about a year ago.
1t is worth $4,000 to-day
A syndicate bought twenty acres in five
acre plata. last October at 81, 500 and sold
he same for $500. The property has
since changed hands at SO, 500 per acre
MIR. l.. Tousey, of Tousey & de Ricules.
a1d that he knew of sixteen acres that
we're bought on the east bench for SC, 900.
md one year afterwards sold for $50. 600.
Weeter & Armstrong bought twenty
lcres across the river year ago at $50 an
Icre and plated and solp it at from $500 to
i 1000 per acre.
MoRLAN's QUEER TRANSACTION.
]. A. Morlan bought the Snow corner OIL
he State road at 1000 last August. and
Ifter holding it for three months he sold il
It ST 900, pocketing a cool S100 600 After
he East Side hotel was located, Mr. Nor
an, with Me Groesbeck, bought the same
orner, which he had sold at S27, 900, paying
81, 900 for it. Mr.. Morlan said he did not
egret selling it at $4,000 advance, as he
ook that same money and by investing it
n other property made as much money as
he had Kept the property.
There were twenty SIX cars of stone came
n this morning from the Mill creek stone
uarries below Provo.
KELSEY GILLEsPIE's BIG BONANZA.
West Temple street is lined with prop
rty that has made its owners rich. KEEL
ey & Gillespie secured good share of
his at from s175 to $500 per foot. Little if
ny of this property is now on the market,
$ people consider it dear at $500. Messrs.
lelsey q Gillespie propose to hold it until
ONE of the valuable improvements are up,
Including the Ontario hotel, when they
MI ask $1,000 to $4,000 foot for it.
The people who can look at S5,000.0OO
Torth of buildings going up right under
heir noses and expect Salt Lake property
D weakening, will grow very weary when
ne next advance occurs, and look back
nd see where they missed it.
BUSTERS! BUSTERS! DUsTERi
Pongee silk, mohair, linen, flannel, and
arious other kinds at