The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-12-04
Matters Outlined by Serene B.
Tuttle Necessary to Ac-
cOmplish This.
EFFECT NEWH0USE DEAL
WILL HAVE IN ZION
Interesting Talk Had With
Real Estate Man Who Ne
gotiated Sale.

necessary to be done to make of this
city a greater Salt Lake said Serene
B. Tuttle to The Tribune Sunday.
Mr.. Tuttle is q member of Tuttle
Bros. through whose real estate house
the million dollar Newhouse real estate
deal last week was consummated.
FWhat, in your judgment. will be
the effect of the Newhousc purchases
upon the future of Salt Lake2' was
asked s. B. Tuttle,
"The recent large investment made
by Mr.. Newhouse of real estate, and
the improvements already projected,
with other Of equal proportions which
contemplation, means an up-to.date,
modern, well-built city for Greater
Salt Lake. lis effect will be the ex
pansion of business, an appreciation
of property all over the city. equal
TO that created by the incoming rail
reason that the real beneficial effects of
the railroads coming this way win not
be felt Cor some time 10 come. whereas
the Newhouse ENTERPRISE goes into
effect an once, and serves as an i'm
petus for others 20 engage earnestly
in the work of building up Salt
Lake substantially and along modern,
scientific lines, with view TO lasting
stability and beauty of architectural
construction, coupled with all modern
conveniences. More, it emphasizes the
confidence which Mr. Ncwhouse has in
Salt Lake s future. in the stability and
enterprise of the city's business men.
Mr.. Newbouse knows that the natural
resources of Utah and surrounding
States in this intermountain country
are ample to Justify the expenditure of
millions in building up the city. The
city today is away below the business
requirements of the country tributary
10 II, and it Is up TO the business men
md property owners 10 say whether or
not Salt Lake shall be made a city,
business center commensurate with the
growing business demands which will
continue to be made upon it.
Will Stimulate Others.
"This great initiative movement Of
Mr.. Newhouse viii undoubtedly have
the effect to stimulate other men of
capital and property to action. 1t
ought To have the effect of starting
an active season of building construc-
tion, such rs Salt Lake has never ex-
perienced, not even in the palmiest of
her so-called boom days. To do
this effectively. and in order to ac-
complish the results desired, property
owners must be reasonable in their
prices. and they should remember that
the fellow that tries 10 get it all, as a
rule falls down in the end, and should
fall down. The recent purchases made
by Mr.. Newhouse, by reason of the
millions Of dollars worth of improve
ments which he viii make, viii ma
terially enhance the value of surround.
ing property, but unless that sort of
property is utilized by substantial i'm
provements, what better is it to the
owner than before the magnificent inn
provements projected by Mr.. Newbouse
were thought off The wise thing to do
for party owning valuable real estate
in a desirable business district of the
city, If unable to improve it himself.
would be for him to sell part of it.
if he doesn't want 20 sell it all. TO a
party who will improve it. BY so do
ing he makes it possible for the city
to build up, and by doing so enhances
the value OF the property which he re
tains. Property owners who want it
all usually make a grievous mistake,
They would better be satisfied with q
good thing by disposing of their prop
erty at reasonable price, and let the
other fellow have a chance to make
something out of his investment This
is the opportune time for property own
ers and capitalists to Join in and
help make Greater Salt Lake.
This they can do by joint effort of
business activity, Or thew can queer
the whole thing by holding property at
mastery inactivity such as has charac-
terized many of this class in the past.
1t seems you give Mr.. Newhouse a
great deal of credit for entering into
this investment, when you know, as
all know, that the property acquired
by him will be about twice what he
paid for it in less than three months
from now1'
What Gives It Value.
''I believe you are right. | think the
property purchased by Mr., Newbouse
will double in value within the time
YOU state. But what will give it this
value? Mr., Newhouse S money. The
scheme entered into by Mr. Newhonse
has been open to the moneyed men of
Salt Lake, many of whom are able to
handle such a gigantic undertaking, and
far more, if necessary. But have they
done it! Who among them have had the
courage to take the initiative in move
of this kind? Not one of the many mil
lionaIre capitalists of Salt Lake, that
we know Of. 1t is for this reason and
TO that extent, at least, that Mr.. New
house is entitled to all the praise and
encouragement that can be extended TO
him by the citizens of city which is
the beneficiary Of this, his prodigious
business venture. The buildings and
improvements projected by HIM, men
ton of which was made in The Tribune
Of Saturday morning and those that
are TO follow, syndicates for tho cree
tion of which are being formed, and
other great business blocks to be erect
ed by other wealthy property owners in
the immediate vicinity, will make the
Newhouse business, district credit to
any city in the country"
Phipps Investment.
"What is Phipps going to do for Salt
Lakef / understand that Mr. Phipps,
the younger, was in Salt Lake the other
day
Young Mr.. Phipps stopped over
with us half a day, about week ago,
on his way through TO San Francisco,
There has nothing definite been settled
as to the amount or character of the
Improvements he will make on his Salt
Lake property. The Manitou hotel will
undoubtedly be improved In the near
future, but TO what extent or in what
way has not yet been discussed or made
known. All I can say about that is
we secured space in the rear of tho