The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-04-18
BUSINESS AND TRADE.

|
Events have moved fast and strong
the past week in business way. The
| big Newhouse hotel proposition has
I taken definite form; the Incorporation
of the new company TO be known as
good shape, with fine array Of strong
| business names as incorporators, dlrcc-
tors, and officers. Besides Mr.. New
house himself, Messrs. NJ II. Walker,
j. r. Walker, John Y. Smith, Fred y.
Druehl, John Dern, W. j. Halloran,
Ncphi i. Morris, ". II. Dickson, j. w.
Houston, Frank j. Hagenbarth, John $.
| Bransford, Harry c. Edwards. Charles
| \. Strevell. George S, Auerbach, j.
Frank Judge, and Lafayette llanchett,
are in the stockholders list and direc-
torate. Mr.. Newhouse IS president; Mr.
NJ. H. Walker, vice president; Mr.. La
fayette Hanchett, treasurer; and Mr.
c, G. Parsons, Jr., secretary. The
amount of capital TO be named IN the
incorporation is $l,400,O00. It is one
of the strongest organized companies
ever formed in this city And con-
struction work on the hotel is TO be be-
gun at once.
Besides this great enterprise other
prominent buildings have been named
during the week, most of them in i'm
mediate practical form, as follows: a
new county Jail, Danish Lutheran
church, orphans home, and large
number of residences of various forms,
flats, apartment houses, and dwelling
houses, besides warehouses and business
blocks 1T was announced during the
week also that Mcssrs. a. & J. Melon
aid are to take over the contract to
build the Jefferson school, which was
forfeited by the original bidders, and
the Messrs. Mcdonald, it is stated, will
rush the building to as speedy a com
pletion as is consistent with good work.
During the week the west side sewer
work, which has given so much trouble
for good while past, was taken over
by the city. the board of public works
to put this work in good condition and
determine what the difficulty is with it,
all with the approval of the city cngin-
Ger, and to fix the blame as between
the contractors and the city, Mayor
Bransford to arbitrate any differences
between the city engineer and the
board, Tn this way the work will pro-
coed energetically and whatever defects
are found will be remedicd
The municipal improvement pro-
gramme, as heretofore stated, for the
present season, will aggregate million
and a half dollars and the work will be
pushed on under the best auspices. The
North Temple street aqueduct is being
put In now as rapidly as men and
money can do it, and all over the city
the streets bear evidence of public
work being pushed. In this connection
it is stated that the city license re-
ceipts for the present quarter arc large
ly in excess of any previous record in
the city, and Of tho total amount of
$l50,000 due and collectible, that $145,.
600 has been paid in.
The street railway company is max
ing very extensive improvements and
Will continue to make them for the bet
terment of the service. The company
now owning and managing the street
railway system took it when it was at
its lowest ebb and has had to spend
vast sums in virtually rebuilding and
restocking the plant. This expenditure
will proceed without stint of money un-
til the whole system is reconstructed
and put on the best possible service
basis.
The real estate market in the city is
active and very strong. There is a
deep and well-grounded feeling that it
is good to own Salt Lake real estate.
The fact that large profits have been |
made in various realty transactions
during the past few years, with ever.
increasing values attaching to the prop |
erty, demonstrates the solid foundation |
for that opinion. And the further fact |
that Salt Lake City is the only place
where large metropolis can be built !
In surrounding area whose diameter
is moro than thousand miles, is q fnr.
ther demonstration of the fact that il
is good to own Salt Lake realty. be-
cause this city is bound to be one of
the leading cities of the United States.
and one of the largest. The week in
realty has developed important sales,
with considerable values attaching to