The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-12-10
..... 50 222.3T2.7S
Real Estate Is Booming.


before even approximated the condi-
ton which exists at the present time.
The big deal that was consummated by
Samuel Newhouse during the latter
part of the preceding week has acted
as leaven in business property tran
sactlous and an active buying of prop
critics in the present business section
as well as in the neighborhood of the
Newhouse purchase near Fourth South
and Main streets has been the eonse-
quence. Most of the buying hitherto
has been by residents of Salt Lake, but
the report of their activity has reached
capitalists in other sections of the
United States and in Europe, so that
now the local real estate men are al
most overwhelmed with applications
for Salt Lake property. Many of these
in person and are now negotiating for
property, which justifes the prediction
that foreign capital will play an i'm
portant part in the local realty business
during the ensuing week, or at least in
the near future,
European Capitalists Coming.
This is further assured by the fact
that even European capitalists are look
ing for an opening and are ready to
empty their Golfers in the Salt Lake
realty market. Most of the big realty
deals during the past week centered in
properties in the southern portion of
the present business district, but before
the close Of the week buying was dis
tributed so as to include both business
and residence locations in other Sec
tions Of the city.
One of the difficulties encountered by
real estate men is the inclination of
property owners to refuse TO stand by
the prices at which their properties
have been listed. In some instances this
fact has prevented the consummation
had successfully negotiated at the
stated prices.
New Business Blocks.
Plans for several new business
blocks are now we'll under way and new
buildings and the remodeling of old
business structures are being project
will plan Mr.. Newhouse s buildings is
due to arrive during the early part of
the week and will begin work on the
plans at once.
Building operations are still pro-
gressing in excellent shape. Supplies
full. Brickmakers are making an effort
to increase their stock Of supplies and
are laying plans to meet the demand,
which win be made upon them when
the building Of the large business
block begins at the opening of the sea-
son. Lumber and shingles are becom-
ing scarce, owing no doubt to the fact
have caused the mills to suspend ope-
rations. The lack of transportation
facilities also contributes to bring
about the shortage.
Collections Unusually Good.
The local wholesale firms generally
are doing an excellent business and
all report that collections are unusu-
ally good. In many instances during
the past week they were prevented
from filling orders because Of the lack
of motive power on the railroads.
The wholesale grocery firms report
that business has never before been so
fourishing. The demand this year is
for better grades Of goods, which is
considered an evidence of general pros
perity. Because of the congestion
which exists among the railroads in
the West they are unable to supply the
demand for certain kinds of canned
plies, Dried fruits are also scarce, On
account of the rivalry which is being
manifested in the Pacific Coast. be- |
tween the California Hawaiian Sugar |
company and the Western Sugar Rein
ing company, a drop in the price of the
product Is anticipated early thlS week. |
Business in hardware is excellent |
and the demand is so heavy that the
manufacturers have advanced prices in |
most lines from 8 to 10 per cent. The |
sale Of stoves and ranges exceeds all |
previous records.
The wholesale trade in gents fur
nishings is brisk and the advance
spring business has already begun. The
local stores have nearly closed out their |
stocks of heavy goods and many of |
their orders cannot be supplied.
Cash Sales Are Heavy.
One of the peculiarities that now ex.
lists in the retail drygoods and cloth
ing business is that cash sales are near
" 3auble those that are being made |
on Sredit. The business during the |
week was far ahead of that of the same |
period Inst year- Christmas buyinp he-