The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-12-07
HENRY NEWELL
BUYS MORE REALTY
Adds to His Holdings on South
Main Street Another
StOrerOOm.
LAYS JUST SOUTH OF
THE MERCANTILE BLOCK
First Baptist Church Also Dis
poses of Its Property on
Second South.

Henry Newell added to his already
extensive Salt Lake real estate hold.
ing Wednesday by purchasing property
on the west side of Main street between
Third South and Market streets for
$4,000 The dimensions of the lot are
11l2xlG5 feot IL is at present oc-
cupied by the Fox & Simons photo
graph gallery and lies Immediately
south of Walker Bros Dry Goods store.
IT rs adJolned on the south by the old
Hill property which Mr.. Newell has
owned for about two years.
The newly acquired property gives
Mr.. Newell a lot l65 feet deep with q
65-foot frontage on Main, the dimen-
sions being the same as those of the
property recently purchased by Samuel
Newhouse from Bamberger Bros, which
is located Immediately south, on Main
and Market streets Although Mr..
Newell g plans are still indefinite it is his
intention TO erect 4 substantial business
block here IN the near future. The fact
that he received several splendid offers
for his property soon after the pur-
chase was made known, shows the spirit
of speculation which dominates the real
estate market at the present time. w.
j. halloran was instrumental in bring
ing about the transfer.
Walker sky-Scraper.
One Of the subjects of discussion
among real estate men Wednesday was
the announcement that NJ. n. Walker
intends TO expend about 100000 in the
erection OF a ten or twelve-story Office
building at Second South and Main
streets on the present site of the Smith
drug store. The property has front
age of S4 feet on Main and 126 feet
IT.I
Is one Of the business men who sees
that prompt action must be taken to
prevent the activity in real estate tran
sactions in the vicinity of the recent
Newhouse purchase from causing
stampede in that direction. This con-
sideration evidently had much TO do
in bringing him to a decision TO i'm
prove the Smith drug store corner. He
is no considering plans and has an
nounced that he will build within a
year.
Baptists Sell Church.
At A meeting held at the First Bap-
tist church Wednesday night it was do
cided TO sell the property of the church,
at the southwest corner of Second West
and Second South streets to an Eastern
capitalist for $4,000. The question of
disposing Of the property has been un-
der consideration for over n year and
meanwhile the church has secured
site for a new church cdifce on First
South. between Second and Third East
streets, having already made one-third
payment on the property.
The decision of the members of the
church TO sell the property on which
the First Baptist church is now located
was due largely to the activity which
is being manifested in the Salt Lake
real estate market Mt the present time.
During the past three weeks an Eastern
capitalist. after personally inspecting
the site, made the members of the
church an offer Of $26. 900. The meet
ing last night was called for the pur-
pose of considering this offer and after
brief discussion Of the terms on
which the property was 10 be released,
the members of the church decided TO
close the deal, with one proviso,
Church Retains Possession.
According to the terms proposed at
the meeting, and which IL is under
stood will meet with the APPROVAL of
the purchaser, the church is TO retain
possession of the present edifce for one
year from Dec s, till n new structure
can be erected on the East First South
street property Meanwhile the church
services Will be held at the old edi
fec as heretofore.
What disposition will be made of the
property after it is vacated by thu
church has not been made known, but
being in the wholesale district, II Will
probably be used for business purposes,
It has a frontage of 93la feet on See
ond West and extends l65 feet along
Second South. The purchaser has a..
ready made a deposit of $500 to Sc
cure the transaction.