The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-12-30

in a stronger or healthier condition that il
is at present.
Transfers for the year ran well in excess
of $9,000,000. If the pace set during the
month of December had begun in January
the transfers would have gone more thar
double that amount. 1t is reasonable to
suppose that the activity now so well under
way will be greatly increased from now on
and that 1907 will be the banner year for
Salt Lake real estate-untiI 1903 and Sue
Ceeding years eclipse it.
The building record for the year was in
excess of 100000. Plans now under
way assure that the record for 1907 will at
least double this, and probably treble OF
quadrupie it, as the NeWhouse enterprises
alone call for over Sc, 600, 900 for fine steel
business structures.
The most gratifying feature of all is that
the activity is not artificial, but is caused by
the pressure of industrial and commercial
developments, and by the influx of new
population. There was a time in Sail
Lakes history when the people became af-
fliCted with a species of financial insanity
and sold real estate to each other at in
flated prices. There was no solid industrial
growth back of this boom, ard with gen.
eral financial distress the bubble burst. Al
the present time, the conditions are exact
ly reversed. The industrial growth and the
influx of population have gone ahead of the
real estate activity, and the real estate
market is just beginning to catch up with
the times.
GREAT GROWTH OF CITY.
The immense developments at Bingham
and other Utah mining camps, in Nevada,
which is tributary to Salt Lake City, and at
Garfield, where immense ore treatment
works are in process of construction, have
brought business of all kinds to Salt Lake
City. The city is becoming recognized as
The great mining center of the United
States, and as more mining companies
make their headquarters here, new people
come in. The irrigation projects in south
ern Idaho and eastern Utah are having
their effect in increasing Salt Lake trade,
and this brings still more people here. The
opening of the Salt Lake Route, the begin
ming of construction on the Western Pa
CifiC, the heavy expenditures by the Harri-
man and Gould railroad systems for in
creased terminal facilities, for fine pasSen-
ger stations and for shops are adding still
more to the population. All these industrial
and commercial developments are already
Under way, and have resulted in rapid in
crease of population, until right now Salt
Lake City, with its suburbs, is beginning
to crowd the 100000 mark, while the
greatest industrial developments and con-
Sequent increase of population are yet to
come.
The effect of this pressure of population
has BEEN shown in the real estate market.
An analysis of the building permits and
real estate transfers shows that the trans
actions of the year have been forced, in
order to take care of the additional num-
Der of inhabitants. Numerous apartment
houses have been built, and every one of
them has been rented before completion.
There has been a great era of construction
of homes, and yet people coming into the
city find it of intense difficulty to get suit
able modern house or flat to rent. The
hotels, boarding houses and ro0mlng
houses are full, and large numbers of peo-
pie are forced to put up with aCc0mmoda-
fons inferior to what they desire and are
ready to pay for. The city is reaching out.
and property is changing hands and houses
are being erected in places which two,