The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-12-01

purchaser of the half block Of property.
and that futile Brothers were acting as
his agents. Principal and agent. in y
frenzy of excitement. hastily denied tho
story. To admit ii might mean loss
of thousands of dollars. perhaps worse
Then came n day and night Of fevsrish
work. and the million dollars worth of
prOperty was secure.
'If It Happens"
Put a few hours behind the final con-
summation Of the deal The Herald yes
teTday morning announced exclusively
the sale of the Iichtenstein corner IT,
Mr.. NeWhOuse. The real estate market
was stirred to its depth. At the Com
mercial and Alta clubs the big deal was
really Newhouse? Was it Hartman? Or
WAS II an easterner2 The Eeralds stD-
ries Were discussed from every view
point. With the game at its height and
Salt Lake watching for every word OF
news. at O'clock yesterday afternoon
the cards were thrown down and the big
sale was given to the papers.
At 800 lafayette Hanchett. in Mr..
NewhOuse's o ices I'm the DOOly block.
made a fun statement of the plans
eYolTed for the improvement of the
property purchased.
Law Office Building.
These embrace. first. the erection st
once OF twelve-story office building
street to be run from Main to State
streets. sixty feet south Of the corner OF
building. sixty feet wide and 165 feet
deep The plan of dropping the new
street sixty feet south of the center Of
the block was decided upon to give room
for the law office structure The street
viii be SiNty-siN feet wide. Then from
the center of this street between Main
and State. a second new street will be
constructed. II inning south through the
center Of the NeWhOuse half block tn
Fourth South street. corresponding TO
Church street across Fourth South.
Steel Building No. 2.
The second office building is to be con-
structed Main street immedia tely
south of the new street running from
eigh;-stOry office building The two
buildings are to be constructed OF steel.
terra Gotta, granite and marble Orders
have been rushed e9St by wire TO the
United States Steel corporation for the
steel supsrstructure of the two new
buildings. Mr.. NewhOuse declares they
will be the finest structures of their kind
ever erected IN western city In the
law building one of the finest law libra
rieS Obtainable is to be installed. The
new streets are to be tunneied for all
wires, sewers and trunk lines The fin
ishings and furnishing of the two office
buildings viii be the finest - be had
These DIRE but details Of the . = ject that
is already on its way.
Fine Gift to the City.
The two streets to be constructed will
be lighted and paved, and when COM
nletpIV finished will be turned over 10
the city gratis. These streets have cost
Samuel NewhOuse just $4,000 in cash for
. the bare land.
The plans for the building are already
ten days along. Mr.. NeWhOuSe refuses
{ for the present to disclose the name OF
the architectural engineer who is plan
ming them, but states that he Is one of
the foremost of his kind in America. and
has over 700 Of the finest sky-scrapers
IN the country to his credit
Two Salt Lake banks have already con
tracted for the ground floor space in the
two new buildings. one of these is I'M
doubleday the | tab National bank. Te-
Gently purchased by W. 5. Mccormick.
Mr.. NewhOuse has but little to say on
the gigantic deal he has put through
but The statement he has made is pc
culiariy 10 the point.
What Mr.. Newhouse Says.
i want it understood that the purchase
of this property is the direct result OF
the remarkab BILE increase in the richness
! OF the Cactus mines and the Boston Con-
sOlidated,' declared Mr.. NeWhOuSe last
evening.
Il have taken millions from Utah's
mountains and 1 will spend II IN the
! state. [ believe in the future of Salt
/ Lake as | believe in rev other things
I in the west. l believe the mines of Utah
will give up millions more of dollars.
{ and I believe that they should be used
/ in the development OF I tab and heI
cities"
The signifcancefof these words means
much TO Salt Lake. \ dozen big deals
/ are today in the making in the business
section of the city. From every quarter
comes the cry that the retail district Is
moving southwark. Main street is to be
paved below Fourth South street to the
/ Salt Palace. Surely, if slowly. must come
/ the paving of the intersecting streets,
/ and with this the establishment OF big,
! thriving retail stores.
End Is Not in Sight.
/ In all probability Mr. NeWhOuse is not
done buying downtown property. futile
Brothers intimaTed as much yesterday
when announcing the half-block purchase.
Henry Phipps Jr-- son of the eastern
steel man. arrived i'm the city yesterday
afternoon and held long conference with
/ Mr. Newhouse- at futile Brothers Of
fees Both men were enthusiastic over
/ the advancement of Salt Lake and the
city's prospects Mr.. Phipns is here look
/ ing after his fathers real estate interests.
There's another side to yesterdays bic
deal. other than M. Newhouse's DARN
ana the profit he mas already made in ri
| property 1t is the profits that have b.
/ reaped by the holiers of the lots n.
/ NewholIse has pur 'ased 1t Is under
stood that the property of Brown. Terry
/ & Woodruff ON State street, with
/ frontage of approximately 10 feet,
Continued on Page 2.