The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-06-16
SNAP HUNTERS
SET HOT PACE
Los Angeles Investors Make a Raid
on City Property.
FEW DEALS MADE PUBLIC
BIG DEVELOPMENT PROMISED
FOR THE NEAR FUTURE.

OALT LAKE real estate dealers were
! given a touch Of genuine Los An
geIes push yesterday. Every office
was the gathering place of earnest
seekers for bargains in business cor
neTs, and every live dealer was kept
on the jump showing property from an
early hour in the morning till the
shades of night made further inspec-
ton impossible 4 number of the Wis
1tOTs denied themselves the pleasure OF
the trip to Lagoon in order that they
might transact the business which was
the primary object of their trip from
the coast to the mountains.
1t becomes more apparent each day
that the Los Angeles investors in real
estate are not accustomed to hunt for
snaps with a brass band. It was given
out yesterday that d large volume OF
business had been closed. that much
valuable property in the city had b=eH
taken on contract. and Yet So quietly
was the business done that 10 mtlmd-
ton was permitted to leak out as to
where the purchases were made or
who the purchasers are. 1t is known
in a general way that most Of the pur-
ChaSeS are of business property. The
St Marks school house. on East First
South, opposite the old city hall
changed hands. The ground has Il
feet and depth of 175 feet 1t was
purchased by Frank schumacher of
Los Angeles from Mrs Julia McFad-
den. through ~ Richter The rentals
Of the property are now S115 month,
and these can he increased to $50 with
little trouble. The price paid was SO
SOC, OF a little better than $500 d front
foot
This Deal May Fail.
The corner of Fourth South and state
fronting east and north. with 100 feet
frontage on state street. the property
of James \ Murray of Butte. was sold
through W II. CrOmer to a Los An
geIes investor, but it was minated
last night that Mr. Murray would not
deliver the goods, although money had
been paid down The price was so. SEQ.
or 1928 a foot for the State street 'front.'
age
It developed yesterday that there
was a wide diversity Of opinion among
the visitors as to which was the COM
ing great business thOTOughfaTe of the
city Some are convinced that the
streets running east and west between
the depOts and wholesale districts and
the best residence districts of the city
that is, First. Second and Third South
streets-are the ones certain to come
10 the front in the development of the
city as d business center. Others ar
just as strongly convinced that State
street Is to be the business street of
the future. Still others are satisfied
that Main street viii retain its prim-
aCy for many years 10 come. For this
reason the purchases are not confined
10 any one street or to any one section
of the city There seems to be no well
organized campaign to build up any
one street at the expense of the others,
as the first movement indicated
Work for d Big Store.
= Nothing definite was accomplished
yesterday in the matter Of opening the
department store in Salt Lake with
Los Angeles capital This move awaits
the purchase OF a certain piece of
ground With this piece secured. a
large building is to be erected on leased
ground, and in this the department
store IS to be opened This move is en-
tiTely independent of the Henry Phipps
building described some days ago.
The purchase of the Third South
street property was completed yeSter-
day. This is 7S14 x33O feet just east of
the SauitaTiUm. It was purchased BY
the Peterson Real Estate Investment
company from the Chambers estate for
$4,000 This purchase was made pure
" as an investment
10 was announced yesterday that Mrs
Mary Judge would raise the rear Of the
Houston block. ON Main street. to two
stories and construct in the new por-
tioR of the building the finest photo
graph studio TO be found in the west |
tt VIII he utilized by d 3. Chase. who I
has taken d long lease on that part of
the building. The Improvement viii
cost $4,000
Will Stay in Salt Lake.
julius r Black OF the firm of Black !
Brothers of Los Angeles. a msmber Of !
the realty board Of that city, and one
Of the heaviest dealers i'm business /
property announced yesterday that he 4
would open am Office in Salt Lake. Mr.. !
Black has become thoroughly con-
WINGED of this city's great future as a 4
business center He viii not abandon I
his Los Angeles office. nor will he make I
this branch Office. He will run this
end Of the business. while his brother
looks after the other end of it. He
VIII remain i'm the city for a month
for a study of the city'S growth. He !
deals only I'm business property Hor-
ace e. Hamilton another Los Angeles
dealer. announced that he would enter
the firm of Hubbard Brothers of this
city. A number of the dealers and in
NeStOrs viii remain I'm the city for sey-
eral days before returning home. The
announcement of big deals are prom I
ised before the end of the week