The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1909-11-28
BIC SUMS CHANGE
HANDS IN SALES
Several Large Transactions
Are Made in Business and
Residence Property.
NEW BUILDINGS PLANNED
OUTLOOK is FOR CONTINUED Ac-
TIVITY FOR COMING SUMMER.

Following fast upon the heels of Pat
Moran's playful coup in Main street
realty last week, the operations of
covetous investors this week have
heightened the interest in the market,
and there is no indication that there
will be an abatement of activities, de-
spite the cold weather.
Scores of small deals have been made
during the week, evincing the conf
dence that is still shown in residence
property, and while these have been
playing an accompaniment to the larger
deals that have been transacted, they
have stimulated interest. Generally
spea king, il has been a very good week,
closing as last week did, with the an
nouncement of an important deal that
seems to give the lie to any prediction
IF letup.
The healthful tone of the real estate
market has not only accelerated the
activities of real estate men, but has
further opened the eyes of investors
who have money at their finger tips
ready to drop il into Salt Lake dirt or
building construction just as soon as
they are shown where TO get away with
profit.
The United Cigar Stores company, a
brand new Richmond in the real estate
field. silently and firmly contaminated
a tremendous deal that had been hang
ing fire for some time while agents of
the syndicate were on the ground. Ev-
cry day these agents, reporting to the
head of the organization back east, felt
more and more convinced in the safety
of an investment comprising a fortune,
and this feeling of confidence came at
the end of long st ldy by experienced
men.
The company, at whose head stands
a man who ten years ago was a clerk
in a Philadelphia cigar store, has sys-
TEN of scouting that cannot fail to eff
feet the desired results. Just as great
baseball organizations send out scouts
TO watch promising young players, so
does this company send out agents TO
look over a city, its prospects for new
business and it's chances for profit.
Crowd Is Watched.
It is quite likely that strangers were
seen lounging at various places in salt
Lake, noting the number OF people VINO
pass. what time of day they pass, how
walk, and how much leisure time they
seem to have. With an accurate score
Of passers-by, including their destina-
ton, the agent made his report. Based
on these reports, the head of the OrPan-
ization picked out the Kenyon corner
and the GOdbe-Pitts corner. It is a
striking fact that the two places on the
east side of Main street were selected,
while all locations on the opposite side
were passed up, either for one reason
or another. This is a striking fact, be
cause only two years ago the stand on
the west side of Main street was re
garded as far superior to any on the
east side. However, this fallacy was
dissipated when established merchants
Jumped across the street, and when the
sidewalks on the east side of Main be-
gan to show as big a CROWD as that on
the opposite side of the thorOughfare.
The United Cigar Stores company, do
ing a tremendous business all over the
country, picked the Kenyon corner and
took a lease that will not expire until
the present generation is supplanted by
a new. Eighty-ive years is the life
of the franchise. not only at that cor
ner, but at the corner of First South
and Main streets, where the GOdbe-Pitt'
drug store now stands. 1t is said that
these two choice locations cost the syn
dictate half a million dollars. New and
imposing buildings viii be erected or
these two corners while the new lease
IS still young. The possibilities fol
cleaning up a huge fortune are illimita-
bic.
Two Big Deals.
F. It. and c. c. Roberts closed an ad-
mirable deal during the week, wheT
they sold the property on First SOutf
street at the corner of Broadway Il
Young & Young for $4,000. They i'm
mediately picked up the strip of GROUND
occupied By the Vincent Shoe compan!
on Main street, next to the Utah Ma
tlonal bank, paying $4,000 for it. Thi.
property is said TO pay per cent on tht
investment. Tt is held purely for spec
ulative purposes. The lot is q LITTLE
more than fourteen feet wide and is IS
feet deep.
II has been announced that the Sal
Lake Security & Trust company vii
build on the Utah National bank cor
ner, but no definite steps have beer
taken. At any rate, the banks leas'
runs for eight more years. Yet, it i:
said, there is a sentiment among the d.
rectors of the institution to move into
temporary quarters. if need be. while {
back into brighter and more mOderT
rooms. The growth of the bank, it Is
said, warrants the acquisition of larger
quarters. and it is not unlikely that &
skyscraper will wend its way toward
the heavens on that corner within E
comparatively short space of time. Thi.
would make the strip held by the Rob,
erts brothers of inestimable value
and il is likely that It, too, would b,
acquired when the plans for the new
building are laid.
New Apartment Houses.
At least two new apartment house:
were started during the week, and ar.
chitects say they are rushed with orders
for more. Mrs. Carrie Moore Gray vii
build an apartment house at the corner
of Gray and Hillside avenues on Capito
hill as soon as the city council estab.
fishes the proper grade at that point. i
is said that the building will cost s1Z5,.
coo. An architect Is even now prepar.
ing plans. and II is quite likely that the
council Will change the grade so as t
encourage this new building 1t Is to bt
- Continued on Page 2, ~o