Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-05-24
BALLOON PRICES
ARE HIT HARD.
Judge CoIborn Has an Eloquent
0uIbufst Against the big
Value" People,
ARE DRIVING AWAY CAPITAL.


Salt Lake real estate men aro con.
sldcrably worked up over tho action
Of property owners here In, ms they
term H. going crazy over the present
hurry IN realty Conditions are now,
they say such that II ~ impossible to
quote nguros on property TO out Of
town purchasers ~ when they come
to close o deal they flnd tina, the hold.
crs have raised the price on them, not
once, but several tines A case In
point waa cited ,hla morning where
ono owner declined 10 sell on tho bnsa
OF he fguro agreed upon ana asked
no lees than an advance Of $3.50 a front
loot on nus original pIiee, and this
within "a hours.
Angeles roully men who have been
looking over tho situation threaten 10
Wilhdraw from Halt Lake, Nv fact one
firm IN southern California which
stands ready 10 invest 81 100000 hero
this morning wired that they could not
entertain euoh unbusInose llko methods
and would give Salt Lake the 20 by
Judge u, r. colborn, whose speeches
before the chamber of Commerce aud
the Realty association M Los Angeles
ON the occnnlon of the excursion Of the
Commorcinl club two weeks hgo were
factors In attracting Los Angeles cap.
llnl 10 san Lake, this morning sounded
u note ~ warning IN an interview he
expressed himself strongly on the sit
uatlon IN the following characteristics
language
THE time has como for Tho Salt Lake
people TO maze q fow nppoa,s 10 reason
II they expect any continual ion NJ In.
Ncsimont from the people " Los An.
geloa, There have been but three buy
crs w far on state street, but their
purchases have boon tho signal Tor AN
advance of prices down there IN that TO-
ralily entirely on, " reason, and pro.
hIbllablo of profit IN the buyer Men
don't buy real estate Tor fun, they buy
II Tor prolit, ana when lho owner
wrlngh all tho PROFIT OUT " II FOR the
next livo years on the hrsi deal hen
soon get the merry hasha ana Tx him.
Hclf 10 hold on for another " years
~ Is simply absurd the way prices
nro being showed up here, At the pres.
ont rate there VIII not be real estate
buyer here In 30 days when you do
mako q deal at prices clearly M 10 the
the price IN raised on YOU ana
You can't deliver
II have had one such experience 10
the utter disgust Of my couatomer, who
was good for tl0OO,O0O conservative IN
Nestmenig here, but who wired me this
morning that unless deals made ON my
agency contracts, which already repre-
sent large amount " money, are clos.
ed they WIN Immediately withdraw
from Nall Lako m nold for invest
mcnt permanently There II tho tole.
gram, Mr. Reporter YOU can zee FOR
yourself
"What Is the use " few " M 20.
ING 10 Los Angeles ana cOnSlng those
great operators Ia como here with tholr
money II when they come our people
put the curclnRc around them ana
nlnch the life out ~ lhom7 Haven't we
been crying for investment here long
enough 10 make VIZ show at least com.
mon yellow dog doccncy 10 the stranger
Who comes with his money! Tho great
American hog ecoma nlWnya 10 be pres.
pnt IN Salt Lnko Whenever there IN
chance to start a healthy real estate
royc, When by the logordomnn ~
lrck accident or mistake some fellow
on tho Jordan soils n l0SlO the man up
on tho cast bench Immediately lolita |
1ia property up couple OF hundred dol.
W ~ u roo, ana lnpn " no ncnrh or an
other sale on Ninth South he throws HIS
the rest Of the way 10 tho sky,
md because he can't sell II ut that
price damns the town ana bys 'Yon
bot ] ! could get my money out of
here ! would 80 away
Tho events of the last 10 days lndl.
cate q wide spread disposition 10 throt.
Tie tho real estate movement which for
iho first time N " yonrs IN Just now
struggling for o. start here, The way
10 mako money IN roNl estate IN 10 buy
ma noll 10 take n reasonable pront, 10
cl the other man have n Vhance.-the
other man who VIII Improve aud not
ny To hog the whole business NJ one
lDll swOop.
selling property 10 Salt Lake people |
h Ike carrying Goals 10 Newcastle. |
They VIII ask prl3oa that would buy IN
Iho New Jerusalem, II they sell real
estate over there, but they wouldn't
buy at the values IN the realms " the
damned Ana there Won are and That IN
v nat oyory practical real estate man
Ihnks ~ the situation here Il IN ,Imo
Io chain up the hoH and give the town |
/, chnncc, This Ia plain talk II ought |
Io be hooded, II must he hoedpl II wo |
scope quarantine ngiInst Investments"
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