Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-11-18
KNOX CONFIRMS
KNUTSFORD SALE
Banker Headed Syndicate for Its
Purchase but Was
Superseded.
REALTY CONTINUES ACTIVE.


Frank Knox president of the Nation
al Bank Of the Republic. this morning
said that the Knutsford hotel property
had undoubtedly been sold and that
the contamination of the deal awaited
only she perfection Of the records in
court lie said that some time ago he.
ar the head OF syndicate had made
an offer for the property. but that in
the time granted for the completion OF
the deal better offer had been received
and the opportunity had been lost.
~ am not entirely familiar with the
details Of the deal" he said this morn
ing. but the least / can say is that it
has been bought because of the fact
that that portion of the city looks good
to Investors. as II has to me, and they
got ia on the ground floor. just what
disposition they are going 10 make Of
the property I do not know. They may
hold it untiI the lease runs out ON the
hotel property, or they may acquire the
lease.
"a do not know definitely just what il
is Intended 20 do with the property, but
the business is moving down In that
direction and from what ! know Of the
people who ! think have acquired the
property the improvements viii be IN
thorough consouance with those In that
part of the city
ACQUIRE PHIPPS PROPERTY
Nj Knox also said that the Phipps
property diagUually across the street
from the Knutsford hotel, had been
sought by number OF Investors am
that il had been acquired on "A 99-yeat
lease Just what improvements were
10 be made the banker could not say.
But IL is a fact that the erection OF
the Boston and NeWhouse buildings,
the new Commercial club, the New
house hotel. and the big DAILY building
on the corner Of Fourth South ana
Main have acted as huge lodestohs
for real estate Investments OF late. rms
district has been the maelstrOm Of ac-
tivity. and in contradistinction to other
real estate dealings throughout the
city. the investments here have been Of
a permanent character and not Tor
the purpose Of turning over money.
NORTH END COMING UP.
notwithstanding the fact that un-
wonted activity has manifested itself
on south Main. there is very stronS
undercurrent which is backing up to-
ward the north with the Utah hotel as
a nucleus. There have been heavy IN
quiries for properties in this neighhor-
hood and the general residence build
ing in the northeast has made these
very keen. But most Of these holdings
have been heavily improved and the
razing Of present buildings meaps
heavy loss But with the completion
Of the magnificent Utah hotel, destined
To be the greatest hotel property IN the
iDter1nountain west and the compile
ton OF the T. C. NJ /. annex IL is eN-
pes.ted that some big deals now em-
bryotic viii be brought TO a successful
conclusion.
STATE STORM CENTER.
In the past month the wind has
veered to the east of south Main and
state street now IL the storm center
Inquiries daily by both local and out
of-toWn investors have been for state
street or nearby properties. This. OF
course. holds true only for business
properties. The demand for residence
lots and buildings has increased in
great leans OF late. and while the IA
vored section is to the south and south
east the demand has been very gen
eral an over the city, with the bulk
east Of Main street
OTHER BIG DEALS.
There are deals on AT tue present time
aggregating over million dollars. ac-
cOrding 10 prominent dealers on the
street Just what these are the street
Is not ready 10 diyulge for the reason
that nearly an Of the buyers demand
secrecy ln order TO obtain contiguous
properties before a great imitation takes
place THE buyers are about evenly
divided between local investors and
those representing out-Of-town capital
lists who are attracted 70 the great
growth OF Salt lake II rs known that
the Gift property, al Third South and
Main Il under consideration by an
eastern syndicate which contemplates
the erection or another skyscraper on
lower Main. This Is AN Old landmark.
and win be- wiped away by the march
~ progress 20 the south. +. ID. Cliff
owner of the property. would neither
| confirm not deny the sale. but intimated
| that the news Of a possible deal WAS
/ not entirely without foundation The
/ corner is one OF the most valuable IN
/ the city and II Is understood that a
! frontage Of about SO feet on south
Main street with something over 100 on
/ Third South Is the property which Is
/ HrafranfI