The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-12-02
)N-D0[LAR REAL
1E DEAL CONSUMMATED

4
be constructed of the same material,
and will be 66 feet frontage on Main
street by $50 feet front on the new
street, and will be eight stories high,
i designed especially for the use of law
| vers and will contain a fine law library
for the use of legal tenants, the conve-
nience TO courts being the object of
putting the offices in the building TO
this use.
/ These two buildings will be con-
nected by tunnel. heated and lighted by
private plant, and the very best ser
vice may always be relied upon. The
latest idea of refrigerating machinery
for cooling the interior of the buildings
will be introduced, pneumatic tube
system will connect the buildings with
the postoffice, and the letters dropped
into the tubes Will forthwith scoot to
the postofice.
Before turning over title to the city
of the street, Mr. Newhouse will con-
struct sidewalks and pave the street
Underneath these streets will be sys-
| tenn of tunnels, carrying electric light,
telephone and telegraph wires. The
streets will be lighted by the most mod
crn lighting system, that will make it
the best lighted district in The city.
Great Gift to City.
Mr.. Newhouse Will have paid in cash
$l5S.000 for the ground that he will
devote to streets and $4,000 more for
the improvements of the same. 1t is
his intention TO make this the business
center of the city on account of the
structures which he will erect on the
| eleven corners under his control, all
being within a block of the city and
county building,
By making these new streets he will
also control three-quarters of a mile of
frontage, and no building will go up
on this property that will not conform
in beauty and style of architecture to
the great steel buildings.
A National bank Will occupy the
ground floor in one of the buildings, and
trust company, equipped with high
class, modern safety deposit vault, will
occupy the ground floor in the other
building One Of the principal broker
age houses of the city will also have
quarters on the ground floor Of one of
the buildings.
A prominent New York architect is
now engaged on the plans and will be
here in q few days TO consider local
conditions, This architect has erected
over one hundred "sky-scrapers and
therefore brings TO bear ripe experience
in such constructions,
Immense Sum Involved.
The purchase OF this property, involv-
ing a cash outlay of over $l,000,000,
has been made by Mr. Newhouse indi.
vidually. The two buildings will also
be his individual property. A new no.
tel and opera house combined is to be
erected on the Walker purchase, corner
Fourth South and Main streets. The
syndicate for the erection of this hotel
is already well advanced
Mr.. Lawrence Townsend, who recent
ly joined Mr.. Newhouse S staff, for the
purpose of especially caring for the real
estate enterprises, has recently received
in quiet way applications for space
in the new buildings by the large cor
porations operating III the valley.
A Philadelphia syndicate, that con-
ducts large department stores in the
large cities, has been for some time
looking for an entrance into Salt Lake.
On receipt of telegram from Mr. New
house, explaining this big enterprise Of
his, they replied asking an option on
one of the corners for their store.
Shows Faith in Zion.
II is because of his great faith in
the natural resources Of Utah. and be-
cause he has made his money here he
should spend it here, that has led him
to make this tremendous investment
The wonderful development of the Gao
tus mine and the healthy condition of
the Boston mines make him feel more
than justified in plunging into Salt Lake
realty.
Mr. Newhouse for the past six months
has known that Salt Lake was on the
eve of such heavy advances and such
great growth that there could be but
one result follow. and that is a DOUBLING
in value of choice inside property, in
less time than has ever been known in
the history of the West No man has
ever made 50 courageous purchase in
city real estate, involving IN one deal
seven acres Of property, three-quartcrs
Of mile frontage. and eleven splendid
corners.
The impetus given to Salt Lake City
> by such tremendous investment cannot
, help attracting the attention of inves
) tors of other cities. and their entranc,
= into the business life of Salt Lake viii
) send Salt Lake whjrling ahead during
l9OI al an unprecedented pace.