The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-04-21
FURTHER DETAILS
OF HOTEL PROJECT
Big Proposition on Upper Main
Street Appears to Be
Sure Go.
LARGE SUM OF MONEY
ALREADY IS PLEDGED
Mormon Church Agrees to Sell
the Site to Company for
$16S,75O.

Further details Of the new hotel
building to he erected by the newly
organized Utah Hotel company at the
corner Of South Temple and Main
streets, were discussed at meeting of
the promoters Tuesday morning. The
sale Of the ground To the new company
by the trustees in charge of tho prop
crty for the Church of Jesus Christ of
Iattcr-day Saints was agreed upon and
the price arranged at $16S,150. This
viii amount TO about $50 per front
foot and for property in that location
is considered very cheap. It will be
paid for with stock in the new com
pany,
Members of the committee appointed
at the meeting Monday afternoon TO
look after further details of the crcc
tion of tho now building, consisting Of
former Governor John {. Cutler, w. :.
Mccormick, l.. =. Hills, president of the
Descrct National bank; Charles 5. Bur
ton, cashier Of tho State Bank of Utah.
and Hcber j, Grant, representing the
Home Fire Insurance company, have
been comforting with the business men
OF the city who own property at the
upper end of Main street and vicinity
and report great interest in the
scheme and gratifying response TO the
solicitation for subscriptions. 1t was
given out Tuesday evening that there
appeared 10 be 40 reason why the stock
would not be practically entirely sub
scribcd in a very short time and al
most entirely held by salt Lake bust
ness men.
Will Take Time.
As soon as possible the articles of in
corporation viii he filed for a capitali-
zation of Sl,j00,OOO, with the privilege
of issuing bonds for n like amount The
bonds viii probably be convertible
This arrangement viii permit the eX-
pcnditurc Of all the money required TO
erect a frst-class hostclrv and one that
will be thoroughly adequate to the needs
Of n growing metropolis. II is said
that nearly 81 100000 has already been
pledged for the project. Any sugges-
tion that the structure viii be ready
within two or three years, however, is
considered premature, since it viii re-
qmrc fully 4 year md a half, and proba-
bly, longer, in which to erect the build
ing alone.
1t viii also be necessary 10 have at
least tentative plans for the new build
ing prepared before ground eau he bro
ken, and the preparation Of final plans
will occupy several months. The new
building is, therefore. a thing of the
future. \ prominent business man said
Tuesday:
1t win belong 10 the new Salt Lake
but its erection, in addition TO the mag
nitccnt new structure now actually un-
der way by the NcwhouSe Hotel COM
pauY. means q tremendous boost for the
city and for the development of prop
crtv in all sections about the city
No determination has been reached as
TO the kind of material which will be
used III the new structure, although it
is known that the building viii be con.
structcd entirely of stone. with steel
frame. II is expected that articles of
incorporation viii be fled within few
days.
Bicycle Repairing and Lawn Mowers
Sharpened,
II. T.. Smith, 1871 w. LIST So Ind. lS3