Arizona republican., 1904-05-18

| Fleming and Charles Fleming, who constitute the Fidelity Trust company, will shortly leave for Glote to give | their attention to their growing mining l interests there. The trust company
 was organized early in the year, and the | Fleming block was put into it as one I of the assets of the company. Soon af- | ter the organization of the company ! there was a rapid looking up of the mining business about Globe, and pa-- | ticularly in the neighborhood of the Tribune group of which the F1emings are the sole owners. Extensive strikes have been made in the group, and de- velopments have reached such a stage that the shipping of ore may be begun at once. Colonel Fleming is also one- fourth owner of the Black Warrior, though he is not now actively connect ed with the management of the prop erty.
 The Fleming block, whose construc- tion was begun in 1893 is said to repre- sent an investment of about $50, 900. 1 The three lots on which it stands at the corner of First avenue and Wash ington street cost $20,000. They have frontage of seventy-five feet on | Washington street and 137la feet on the avenue. The building itself Is said to have cost in the neighborhcod of $1E5,- 900 exclusive of improvements which have been made from time to time. At i first only three stories and the basement of the building were finished and cov- cred with temporary roof. That part , of the structure was so rapidly taken i up that the following year the building g was completed. The net income from the building is now about sS00O an- nually.
 It is predicted that this deal vii greatly stimulate values of other prop erty in that vicinity, and that it will be quickly followed by other changes. James Creighton, the owner of the 'Jim" block across the alley on the north, said yesterday afternoon that the trade had been worth a goo1 deal to him and that if he had price in his mind yesterday morning he had re- vised his figures immediately after hearing of the Fleming block transac- ton.
 The value of real estate in that i'm mediate neig'hborhood has increased rapidly in the eleven years that have intervened since the Fleming block was built The Walker estate property on the diagonal corner has q frontage or only forty feet and a depth of only leo feet, considerably less than two thirds the area of the ground occupied by the Fleming block, yet the estate has re- fused an offer of $40 O0O, and it is sad that an offer was made some time ago fo the county of s50,000 for three lots across the street from the Fleming.
 MT. Hubbard was seen yesterday af- ternoon after the fling of the deed. He said the Fleming block waSby no means his first investment in Ph1en x. He had bought 1t because he believed there was money in it. He has no in- tention of making Phoenix his home any more than it has been his home since he first entered the territory as miner in the Harqua Halas
 The Fleming block was the last of the holdings of Colcnel Fleming in the valley. Not long ago he disposed of a tract of land in the neighbor hood os the Indian school. Colonel Fleming. who had been a successful operator in mayor of South Denver, came to Phoe- nix about thirteen years ago and founded the Phoenix National bank. He was president of the bank fer long time but about eight years ago he bs- came extensively interested in mining and secured control among other prop critics of what has since become known as the Black Warrior property near Globe. After that ne gave up act.ve participation in the affairs of the bank !, and devoted himself wholly to the de- l vclolment of the Black Warrior and | his other properties.
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