The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-06-15
INVEST 100000
IN SALT LAKE
Los Angeles Visitors Assert Their
Faith in Utah's Future.
LARGE DEALS NOW PENDING
IMPETUS CERTAIN TO CARRY
THE CITY FORWARD.
LARGE DEALS NOW PENDING

| 1T IS the conviction OF well Informed
local real estate dealers that the
! presence in salt Lake at this time
| of the two trainlOads of visitors from
southern California viii result in the
I investment of at least $1.OO0.000 outside
capital in Salt Lake real estate. This
| estimate is based on the assumption
that the present owners viii use COM
mon sense in the matter of prices. II
also includes the $500 600 already in
vested by Los Angeles capitalists IN
recent weeks
Several of the visitors said yesterday
that they had made purchases. one
man announced that his purchases
would run to 100000. Others said they
had taken options and would Close the
deals If everything was found To be
right. It is known that many other
deals are pending. some of them of un-
usual proportions. Whether or not
these go through viii depend in large
measure on the attitude of the present
holders. II they are inclined to be
satisfied with reasonable profits on
their property, the deals viii be closed
if not many of them viii fall by the
wayside-
Some Will Take More Time.
Some of the visitors who came 10
ing are charmed with the prospect
They have taken options on valuable
property and have sent home for cash
with which to close their deals. Others
have decided to return home and think
the matter over before taking action
Still others viii remain over in the city
for several days and make a more care
full inspection of conditions before act
ing for themselves or advising their
clients.
But it is realized that the $1,000. 600
to be invested by the visitors from Los
Angeles at this time is not the matter
of vital importance to Salt Lake The
important thing. the factor that throws
all others far into the background. il
the nature of the impetus to b given
the city as a result of the visit
IF the impetus IS in the right di-
rectiOn," said d far-seeing local deal
er. salt Lake will feel the good eff
fects of the CalifOrnians throughout
her entire history. IF the impetus
should be in the wrong direction, all
our labor viii have been in vain and
the city viii fall TO sleep 1 have little
| fear of this Our visitors are well
pleased with our prospects They are
convinced that the foundations for "a
| great city have been laid here They
come in touch with the right kind of
people and they Will spread good re
ports of us Great good Will come "
l our meeting
Big Deals Kept Dark.
While it is known in a general way
that a number of important deals were
made yesterday. no official information
| would be given out concerning them
| The lions Savings bank sold the prop
erty on the east side of Main street
| now occupied by the Fergus Coalter
| music store The lot IS 24x10o- 1t was
| sold through Young & Young, to Mrs
| Sarah 4. McChrystal for $4,000. This
| makes 500. 900 worth of property this
Ink has disposed of recently
| Loeb Fleischman & Co Of Los An
| geIes purchased, through Taylor Bros
| the J NJ Stout property on the corner
/ of Fifth South and Main streets. dag
/ onaIIy across from the property re-
| Gently bought by Peter Hack The
| Stout property has a frontage of sixty
six feet on Main street and a frontage
of 40 on Fifth South The purchase
price was $4,000. A family hotel now
on the lot rents for $1,000 year max
| ing ~ per cent gross income on the
investment