The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-12-04
REAL ESTATE IN ZION
BEST OF ALL SECURITY
So Declares r. L. PritcharG in
Talking About Salt
Lake.

| GAS an investment proposition, i
| consider Salt Lake real estate the best
security that any one can get in the
| United States today said r. l..
| Pritchard, manager of the Wilson.Sher-
man Real Estate and Investment COM
pany, in talking with The Tribune Sun
| day afternoon.
''You know. we real estate mon have
| been looking for the business district
| of this city to be Increased several
| blocks for the past two years. and while
| the present activity comes as a surprise
to the general public, it is no surprise
TO us, and VIC have been really looking
for it and expected that it would come
long before this. When people consider
that FOR tho last ten years we have
| added many thousands of people to our
population, but that the business part
Of the city has not grown materially,
II ought not TO be a surprise to any one
that when business did spread it would
cover large area, The topography OF
the city is such that business cannot
go further north, and as quite natural
consequence it will go south. How far
south II Will go can only be surmiscd
At present. but ] believe that more bust
meas houses will go up on State street
than on Main street, owing partly to
tho general traffic on that street. AS
soon as Main street, State street and
Fourth South. the cross street. are
paved business houses will he erected
on all thc blocks adjoining these streets.
| have a great many inquiries from out
side business men, and | honestly be-
hevc that within the next year there
viii he a big change in the business
center of this city.
There is not going to be any big
boom hero. as some people anticipate, a
there was in 1890. but at that, if real
estate prices compared with the for
mer prices they would be somewhat
near the real value of our property here
Salt Lake is different from other
cities in the valuation of property. Take
Los Angeles, for instance IT is very
hard to secure loans upon property in
the suburbs and outlying districts, while
here outside property can always be
mortgaged for 80 per cent of its real
value which concmsively shows and in
dicates the confidence in larger moneyed
interests. I was down in Los Angeles
several days ago, and found TO my sur
prise that money-lenders could not even
be induced to consider loans upon out
side property They did not want it.
and there is n reason for this. ANY
Improvements placed upon Salt Lake
property invariably bring TO the owner
a profit of from S to 10 per cent on
the money invested without a chance
for any loss at all.
Samuel NewhOuse has the right idea
in cutting up the business blocks. This
gives more frontage to the business men
III practically the same amount Of space
business blocks occupy on these big
blocks. and ample room on the inside
There is no waste Of land, and more
compact business district is the result
AS far as there being any real business
central point. there is no such thing
Business thrives on all streets If the
right kind of improvements are made.
The present activity is mostly in the
business district of the city. It does
not affect residence property, and there
is nc raise looked for in the price of
the latter class Of property. -