The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-03-17
BUSINESS PROOF
AGAINST PANIC
Healthy Tone Still Continues in
Salt Lake Trade
Circles.
RENTABLE HOUSES SCARCE
NEWHOUSE ACTIVITIES EXPECT
ED TO HELP REALTY:

The talk Of the closing days Of the past
week in local commercial circles has been
the Wall street panic. While the eastern
disturbances produced no noticeable ef-
feet on local business dealers have
Watched the situation carefully. When last
nights reports carried information of a
Strengthening Of the New York market a
general feeling Of relief was expressed
here.
No better proof that the Wall street ca
llamity failed TO disturb the equanirnity Of
the tntsrmOuntain situation can be had
than the statement made by w H. Ban
croet Of the Oregon Short Line yester-
day, when he said that he IS positive that
lall railroad improvements planned for
lSalt Lake viii be carried Ous despite the
Temporary decentralization Of the big east
ssrn stook markets.. W s. Mccormick of
fine Mccormick bank President Knox OF
1.-THE National Bank of the Republic and
Ihalf dozen other prominent local bank
krs have expressed similar sentiments the
lpast two days.
Banks had an especially good week and
!cleaf1ngs on several days ran largely in
texcess OF cleaI5ngs on corresponding days
last year
By far the most important feature OF
the local business situation at present as
affecting the city generally, Is the alarm
hng scarcity OF rentable houses and flats
'moW at the disposal Of the rental agents
lRbout town. The situation along these
Hines is the most critical in years and ap-
lperently there is no relief IN sight before
Hall.
A canvass OF the largest rental agencies
tn the city yesterday disclosed the fact
hhat for over three weeks not modern.
rentable house has been listed The de-
anand for residences is increasing daily
Bnd newcomers to the city are offering up
no s8 q month for semi-mOdern houses
lind are being turned away.
Waiting Lists Made Up.
Every apartment house in the city is
lfffi. Several have waiting lists Every
hental agent has a waiting list of from ten
10 forty people waiting for six, seven and
1T is estimated that it WIN be well
ialong into the summer before more than
one or two apartment houses will be COM
epleted OF The half dozen now under way
jn different portions OF the city. PrOspec-
tive builders say the prices of building
materials and labor have advanced here
In the past three months to such an eX
itent that they are compelled to tempor-
.ariy abandon their plans
II have plans drawn for $40 900 apart
ment house on Brigham street and intend j
ed TO start work in April on the build |
ing" said De Witt b Lowe a local
teCt started work on those plans. how
ever. material and labor have advanced |
liH cost to such an extent that find II
Twill cost me s15. 600 more to build the flat
building than was originally estimated. I
am going to wait awhile. now until the
local building situation develops more
thoroughly. Incidentally 1 have been
looking for a house to live i'm for two
months even advertising in the paper |
and I've not been able to find one
- Mr.. Lowe voices the sentiments of fprac-
tically every real estate dealer rental /
agent and prospective builder in the city |
Building. nevertheless. is booming and /
contractors are exceedingly busy. The /
threatened plumbers strike has so far 1
failed TO materialze and employers are 1
congratulating themselves on escaping |
what might have proven serious affair |
IN view of the amount of work To be done
here this spring and summer
Ccbb's Men Here.
The arrival of the New York contractor
and architectural engineer who are TO SUI
perintend the erection of the Newhouse
ibuilding and the Boston block for Samuel |
Newhouse on lower Main street has given
the real estate market additional impetus
Dealers are anxiously waiting for dirt to
fly on lower Main. believing that the be-
ginning of the operations there will help
she realty market. Work on tearing down
the Kifnball residence win start within
the next ten days. The week has been
quiet for the dealers In a general way |
though a good inquiry has prevailed at /
fhe larger offices.
of the utmost interest to lower Main