The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-12-02
TRADE AND BUSINESS.

The week in business circles has
closed gloriousIy, with the announce
ment of the magnificent Improvements
which Mr.. Samuel Nevhouse has
planned for his great realty purchases
on the south half.block cast OF the
postof1ice Nearly the whole Of that
half block has been bought by him for
an amount approximately given as a
million dollars. and be will proceed with
the construction upon that ground of
two great blocks, one Of twelve stories
and one Of eight stories, both steel
frame, and the latter TO be called the
"lawyers' building A street is to
be run along the north side of this
property, from Main TO State street,
and half way along the block north
and south street will connect this new
street with Fourth South. 1t will be,
when completed, by far the most ex-
tensive single improvement ever put
in in this city, the nearest approach
to it being the projected Dooly block
and six-story Ontario Hotel of which
only the Dooly Block was built on the
original plan, the proposed Ontario
Hotel being superseded by the two
story block in which is the Commercial
Club and many business houses and
Offices.
This, proposed Newhouse improve
ment is most favorably placed, 1t is
just across the street from the post
Office, and is next door TO the joint city
and county building, where all the
executive, legislative. and judicial
business for the State at large is
transacted, and also all the executive
and legislative business for the county
and the city is done, the judicial
business for the Third Judicial Dis
trict, and the school business for the
city are transacted. 1t is assured in
advance that Mr.. Newhouso will have
an abundance of tenants, and the profit
of his investment is assured in advance
The Newhouse realty purchases include
also the old j. r. Walker residence cor
ner, Main and Fourth South, and the
southwest corner at State and Fourth
South. In all, these constitute an
enormous estate.
The stimulating effect Of this great
deal and the plans which grow out of
1T rs already apparent in the realty
market. When a million dollars can be
invested in one wide-reachinp deal. all
property owners and dealers are Ger
tain TO be affected, Other buyers rush
In: prices stiffen, and the realty market
Ia enlivened with further sales. the
effect is lasting and good. The current
daily sales are swelled. and every one
is benefited; We expect that the trans
actions OF the present week will be
materially enhanced by TIE Newhouse
deal.
The mines Of the State continue their
large production. which makes them
tavorltes in the financial world Their
large product upwards Of thirty mil
lion dollars this Year, commcnds them
to prudent people who have means 10
invest. The smelter situation is not
improved, the rchearing which was ap-
denied, and the order that no ores
carrying above ten per cent of
sulphides may be smelted. holds good
This VIII seriously cripple the opera
tons. and it will have tendency TO
drive the smelling all to the smelter
city, at Garfield, or to the north termi,
nal somewhere of the OGujrrh range,
west of the city.
The railroad situation is excellent
The Western Pacific is pushing for
ward with frst-class energy: the
NJ Moffat road from Denver is coming as
fast as the grading and track laying
can progress; the Deep Creek road,
from Tintlc Junction through that rich
region and on to Ely is assured, and
there are many branch lines projected.
In this city trade is brisk and strong,
with collections good. Tho bank clear
anres show a gain for the week OF 46
per cent over those of the correspond
ing week of last year which is most
gratifying showing. Already symptoms
OF great holiday trade are to be
noted.
The farming interests Of the State
are greatly cheered by the large and |
early Snowflake il is indeed fore |
runner of another successful and profit |
able season, as the last has certainly |
been. The fall thus far has been
extremely favorable to the sheep
industry on 'the desert.
In the country at large. trade is
reported as ut the highes; wave; the
interruption didn t hurt:
on the contrary, as Dun says. condi-
lions should make the business world
more thankful than ever. "In
Ill departments of agricultural, |
Industrial and mercantile activity the
year is passing event the phe-
record of 1905, which in turn
,chpsed all preceding years. " Railway
railic continues congested, which, as
3radstreet says, is a reflection in it. |