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

on their plans and the steel superst
The most gigantic Individual deal in
| commercial real estate ever attempted in
Salt Lake City and one Of the most i'm
portant and significant transactions of
/ its kind the entire west has known in
years was cOnsummated here last night
when Samuel Newhouse, the multi-mii-
/ liOnaire mining magnate of this city. Sc
cured the final option that gives him con-
1 troll OF practically complete half block
of property in the heart of Salt Lakes
retail business district and three big cor
ners outside the block in its immediate
| vicinity-in all three-quarters of mile
I OF business street frontage and eleven
! downtown business corners.
The deal involves a consideration of 81
I t10.0U0. TO be paid out III cash for The
property now held under option by Mr.
| NewhOuse within the next sixty days;
I the expenditure of s5,0o0,e00 in improving
/ the property, including the erection OF
/ two sky-sc~aPers and the opening up or
two new streets. and finally the immedi
ate acquisition of more property in the
vicinity of the half block purchased yes
terday.
Where Property Lies.
] This half block is the lower half of the
/ block bounded by Third South street,
Main Fourth South and State streets.
/ The NewhoUse options cover every piece
of property in the half block but the lO0S
/ 165-fOOt corner at Main and Fourth South
/ streets, owned by Mrs Julia Kimball. and
/ the 52xS9-fOOt corner at State and Fourth
South streets, owned by Albert Fisher.
I The three corners outside the half block,
/ but purchased with il. are the Walker
corner a Main and Fourth South streets.
1S1Xl65 feet. opposite St Paul $ Episcopal
church; the NJ. B. Lchtenstein corner.
tSIax97 feet at Main and Fourth South
streets opposite the Kimball corner. on
/ Main street. and the Fred A X. R0sen-
I field corner. at Fourth South and State
streets. 166X132 feet. opposite the Fedora
ton Of Labor hall on Fourth South street
What the Move Means.
/ From his big office on the sixth floor
! of the DOOly block, Samuel NewhOuse in
! the last two weeks has planned, directed
/ and executed a project that means
profit TO himself OF from S509OJJ to SlUuOOO,
/ the rehabilitation of the lower section OF
Salt Lakes retail district and the prop
agating of an activity in the local real es-
/ tate market that promises 10 send Salt
( Lake swinging through the opening
doors of progress out into the glare of
new metTOpOlitdniSm.
Turning from his mines moment. he
has jumped TO a new field with the swift.
sure determination of man who plans
and acts in millions. while the men he
! lunches with. the men he works Win,
spend their thousands.
/ He is back at his ore shafts today. He
/ has spent his million for half block or
/ so of property; he's told his manager to
build thereon TWO office buildings anu
! TO open up two streets. This manager
! Lafayette Hanchett, has taken the scarce
uttered cue and while his chief tied up
the last few odds and ends of corner lots.
orders have gone rushing eastward IOT
steel for the superstructures of a twelve
and an eight-StOTy building, and one OF
the foremost architectural engineers in
America is ten days along on the plans
I for these same buildings
Does Big Things With Ease.
The mining man has released the reins-
Even last night. but a moment after his
pen had closed the last option in the big
deal. he was through. Ii was Mr. Han
chett who met the newspaper men and
+ told them of the purchase He of the
/ inner office spent the evening at home
with his family. The Herald called him
up and asked him for his picture No
tired WOrn-Out laugh came answering
back over the wire but hale and hearty
peal that in its whOlesOmenesS bespoke a
man well satisfied with his day :
work. content for an evening with his
family and new deals tomorrow.
Great Game of Wits.
Salt Lake has never known a harder,
/ faster. sharper game of wits and money
I than the one that for the last two weeks
I has been waged over the half block of
property that this morning stands in
Samuel Newhouse's name. futile Bros.
! handled the options for the mining man.
/ There's been no office hours for the men
who worked these options. Conferences,
plans and counter plans, bids for prop
erty and actual purchases have followed
{ each other in quick succession. No i'm
peria1 ruler ever guarded a state secret
! closer than the men back of the New
! house project have guarded their move
ments. y single untimely leak meant
I ruination for a mammoth scheme Time
and again a half dozen other agents tried
for options on this or that piece of prop
erty in the half block opposite the post
office during the past ten days, and 10
no avail.
y slip. thel a half daV : hard work Y
: 4 t-porter. ana Tha Herald gave lis
Te11ers the first news OF the i'iS deal.
This vas the announcement WeGneSdd2
! Eiu'taii property. Tuttis Pro- '.u',F ~
denied their connection with the salt
and various theories wee advanced as
Z t.. Jiie urOt %blt purchase Of ti'e lot.
Where The. Herald Came In.
The entering wedge held fast and. SLOW
~ but surely. Wednesday the details oi
/ the big deal were unearthed. Thursday
morning The Herald exclusively an
! nounced the sale of the r. T.. Miller
property on State and Fourth South
] streets. the tieing up of the biz Whit
I taker property on Fourth South. hetveCn
/ Main and State streets by option, the
/ sale of the Marks property on Main, the
( tleilg up OF the Brown, Terry d Wood
ruff property on State by options. and
( the probable sale of the Moritz lot on
Main street. The Herald said that SAM