Arizona republican., 1910-01-22
SECURITY.
 BUILDING t Was Bought Yesterday By
 ]. ". Doris CONSIDERATION s165,OOO.O9
Largest Transaction Ever Made in Phoenix Realty. Will Be Completed By Present Its Owners and Turned Over April 1

The largest transaction in inside property that ever occurred in this city was the purchase yesterday by J. w. Dorris of the Noble block, from
 the Security Trust company. for $l65.
 900. contract was entered into be
 tween the parties, for the completion
 of the building by the Securities Trust
 company and its delivery to Mir. Dor
 ris on April l. The first payment
 was made yesterday on the purchase
 price so the agreement is a completed document and the sale an actual. bona
 fide transaction.
 The entire building is now under
 lease for ten years to NJ. Goldwater
 X Bro. and the Doris -Heyman Furni-
 ture company. J. w. Doris being the
 vice president of the latter. The
 Goldwater store occupies the ground
 floor and basement of the south half
 Of the building. and the Doris Hey
 man company has a lease on all the
 rest Of the building
 That MT. Doris has secured a bar
 gain is a statement SO patent that it
 hardly needs repeating That the Se-
 curities Trust Co. has made a good
 sale is likewise quite evident, for it secured the property remarkably
 cheap. owing to the financial tangle
 into which it was thrown by the mis-
 fortunes of John Noble. the original
 protector. The Securities Trust com
 pany has undoubtedly made a good
 profit on its investment and MT. Dor ris has secured an investment of the
 most permanent kind and at figures
 that are certainty of safety and a growing profit The construction of the building has cost somebody a to-
 tai of at least s5O,OO0 in excess of the
 price MT. Doris has paid, and per haps more. to say nothing of the val
 ue of the quarter block of ground on which 1t stands. Some idea of the value of the ground may be obtained by recalling that only a few weeks ago pr. Ancil Martin paid in the neighborhood of s5O,000 for the lot al the southwest corner of Adams and First streets. directly across the street from Mir. Doris purchase. the lot be- ing much less than half the size and improved only by a one-story brick building. Sale of the Korrick prop erty occupied by Goldberg Bros and the Yellowstone saloon has been re- fused at better than S60.000. Using these as a criterion, the lot occupied by the Noble building ought easily to be worth Sl00,000. to say nothing of the building. which has cost much more than the price paid for both building and lot.
 Mir. Doris, when seen concerning the transaction. said he did not care to make any statement, other than to verify the sale. and to add that he merely desired to secure d permanent inside investment. and dispose of all his outside property except Alta Vista place. which he would not part with for any consideration at the present time With Geo. H. Cook he owns two sections of land in the west end of the valley which he says they want to sell, and he has some other outside land investments that he proposes to close out as soon as he can to adVan- tage. and concentrate his holdings to the Alta Vista tract and the Noble l property and his grocery store, which | is in no way connected with this | transaction. Asked if he planned later to move the grocery store into the big | building, he said he did not. He has | a long lease on the property now oc- cupied by the store and the Noble | building is already completely occu- | pied And that was all MT Doris | cared to say about the transaction.
 Concerning the deal from the stand | point of the average citizen, it is one | that has considerable local interest to | a great many for the reason that it | means first, the owning of the prop | erty by local man. and secondly that | such an owner will undoubtedly exert | a greater effort than q nonresident | for the building up of the eastern end | of the city, or at least the eastern part ] of the business district. It will be | greatly to the interest of Mir Doris to encourage the making of First and Second streets fully as active in a | business way as Center. First avenue or any other of the cross streets It | is only a question of time when the | block immediately north of the Noble | building will have to succumb to the l demands of business, which means, of | course. added value and improvements on the adjoining blocks. It is evident i that the residence section is pulling i more strongly toward the north and !, west and may continue to do so but the business section is bound to grow as well and with new influences at work it's expansion north and east | from Washington and First streets will ! be at least somewhat accelerated The | tendency will be to at least hold things level so the growth will be generally | instead of running off in one direction.
 Concerning the growth of the resi- dence section it is undoubtedly in the air that there are to be great improve ments in the not distant future. to- ward the northwest. MT. Doris con- siders his Alta Vista tract as a com ing choice residence district. and Mir