The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-12-04
RENTS TAKE DROP
TO SLIGHT DEGREE
Local Business Conditions Are
Quiet, but Merchants Are
Hopeful.
RUM0R OF A NEW HOTEL
In Retail Trade Indications Are That
Christmas Shopping Will
Be Brisk.
RUMoR OF A NEW HOTEL

Although the present business con-
ditions in salt Lake are quiet. the local
concerns AMI business men claim that
the prospects for Christmas trade are
very bright The depression is prob
ably felt more by the real estate deal
ers than in any other line. with but
little prospects OF relief before the first
Of the year
At present there are numerous va
cant houses and apartments I'm the city.
which has brought about q general de-
cline in the rentals FOR the various
properties. Present rents show a de-
cline Of about ten per cent under the
rents in effect at this time last year
While the number Of empty houses I'm
the city Is large. the real estate men
say there are but few Of these that are
thoroughly modern. The majority being
withouc modern conveniences.
The better class Of houses they say.
is in constant demand. and claim that
the nUmbe- Of houses OF this class with
the rent sign hung out is not over fifty.
Notwithstanding the number OF vacant
houses. real estate men claim that
rents have reached the bottom price
now
Probably the greatest feature 81 the
n al estate market Of the week was the
report that improvements. amounting
10 500. 600. were contemplated on the
northeast corner Of West Third South
street and Rio Grandc avenue. The
report gives the Houston Investment
company and J. J. Corum as associated
with this move. though neither Of these
interests are willing to make any def
mite announcements
New Hotel.
II IL understood that they plan the
erection OF thoroughly modern. three
or four-story hotel on this location.
The ground floor will probs bly, consist
OF the lobby and Offices and a number
OF store and sample rooms. designed
10 meet the needs Of the tenants The
upper floors will be devoted to the
rooms. many OF which will be built en-
suite. with bathroom connections
This but illustrates the increased
values I'm properties along West Third
South street. sin se the completion OF
the new union station OF the Gould
/ lines. A few years ago there was lit
I tie demand for property along this
b ihoroughfare. even for residences. to
say nothing Of for business purposes.
real estate men say. Stree the compile
ton or Jhe new station and the an
l nounCem mt that the Peery hotel would
4 be erected on this street. and the many
other announced improvements. prop-
erty I'm this section has rapidly forged
10 the front. there being increased de-
I mands both for permanent building
end speculative purposes
rhe sales OF unimproved property
during the week have been small. the
bulk Of the real estate sales being OF
/ improved residence property and farm
lands on the outskirts or the city. The
I real estate men are inclined to think
that WHO the new city limits running
70 Thirteenth South. and the promises
of the Utah Light & Railway company
mat extension OF its lines In the sub
I Urban section are % be made. the new
subdivisions will be thickIy populated
within the next two or three years.
Money I'm Demand.
Money is still in demand here. 70
such ar extent that local bankers pre-
dict no changes in the rates before next
spring
The retail drygoods trade has prob-
ably felt more increased sales through
early Christmas shopping than am
other branch. There has been q slfrb,
: increase In sales, the special call being
ieit Tor fancy and novelty goods
though the earnest Christmas shopDinF
~ not expected to commence before
next week. The past weeks increas So,
are probably due more to the countr,
trade than the city. this trade beiur
inclined 10 avoid the rush by earl,
shopping The wholesale drvgood,
market has been slow. though the de.
mand has been steady.
The h1rdw6re trade reports claim No
material changes in that trade. the
sales for the past month being eouol
10 those OF any month 81 tbe go
With general tendency to stop buiId.
ing operations at this time Of the vcay.
I there has been a general Slackfnvr mr.
IN the lumber trade.