Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-08-06

was made by man who traded "a hack
| that cost $500 for 500 acres OF land,
| which he subsequently sold during the
| boom FOR $4,000. Another tract Of
! $3.50 acres. OF which CrescentwoOd, our
| finest residential district. o. a part,
was bought for Few hundred dollars,
| then sold for S1Si.090 In the fan of
/ 1881, Tesold later for $4,000 and
| again for $4,000. or 1000 an acre.
The winter OF 1889 witnessed tho
widest time OF the boom Investors,
spectators and boomstcrs from an
over the continent. as well as soma
from across the Atlantic, Hooked TO tho
city, as II had then become. Hotels and
boarding houses became crowded In
the hotels n was two in bod and
two beds iu a small room. aud later on
sleeping accommodation provided on
the dining room floor az 30 cents each,
with ones coat for "a pillow
one hotel Keeper IS said 20 have got
20 greedy that when his floor guests
got soundly asleep he stood thcm up
against the wall Co max" room Tor 9th
crs on tho floor
Many of tho quickly made rich boom
crs began 90 sduondor their profits
quite rocklessly, but time viii only per-
NIT me to mention one. who. not salts
red with the ordinary mode OF cleanli-
ness invested in "a $500 champa guc
bath' Nccdle's 20 say me saw many "a
day Afterwards that ono-third OF The
cost ~ 10 would have been boon 10
his family
Fortunately there arc but few cases
of such vretchcd Initiation OF values as
those illustrated Ly the booms mem
toned, but there are abundant In
stances where speculation comes peril
ously near the danger line and near
the border separating tho legitimate
from tho illcRitimatc transaction.
AHgf d.. n#sN "a 81. Inc
inflated overv day. and unless caution
Is observed in the purchase of prop
ertv. the helpless investor rs likely 10
fnd that he must walt for a more or
less lengthy period Tor his Investment
To yield a profit
II does not follow that whore values
have been unduly overvaluod the cle-
ment OF dishonesty must necessarily
enter into the matter. 4 rapidly grow
Ing town offers opportunity for Invest
ment and the chances are altogether
flattcring that, who're that town has a
backing Of natural resources and fav-
orablo location, shrewd purchases of
land VIII lead to augmented riches.
This has heen amply verified in the
case Of Winnipeg which by It's wonder
ful Development has shown that the
highest priced properties sold during
the boom would Dc considered n great
SNAP az the present time
me DANGER IltN IN IIH TACT tIldt III is
possible 10 ovcrdo n. for set Of m,n
to set together and begin "a campaign
Tor unloading tracts NJ land out Of an
proportion to the towns ratio Of prob
able growth. II these men are none
too sCrupuluus the result can be gu So
ed More lots will be sold than can
be improved for years The other Ger
tain result rs the slump In realty yalucr
An this Of courS7, is like stating %
platitude There Is not "a real estate
dealer worthy Of his calling who docs
not know where legitimate land deals
end and the illegitmate boom COM
mencCs. There is not one who does not
realize that whore there Is not a per-
manency OF basis there can be no
permanoncy Of value You cannot
make something out OF nothing. \
normal growth is beneficial 10 a com
Failure ana misfortune have
been the history OF fictitious booms In
land values.
The presumption is that real estate
dealers are as honest. as a generality.
as any other set OF business men But
real estate men are also human and
they ARE not in business for the Nero
pleasure Of IT, Undenably there are
sharpers among us. and now and then
to the best of us comes the temptation
10 make a turn quickly at a good profit.
It Is a strengthened man indeed who
can resist the temptation to have Il
hand IN boom which promises large
returns. The wonder is that tho per
centaEe Of real estate dealers who fall
into doubtful practiscs is 81 small
As real estate men we should be able
10 distinguish between bona-ide and
fictitious value and to sell TO investors
pm a basis Of permanency in those
values The increased worth OF the
property must come with the growth OF
Tho community and the increased de-
nand Tor land sites II is impossible
to create artificial values and have
hem endure.
The profession Of selling real estate
IS an honorable and dignl1ed one. Let |
rs not forget this fact The relative |
lumber Of undesirables among US IL
no larger than arllcts any other pro-
ession. / say profession. because IL |
q more than a mere business this sell |
ng OF land, The honest real estate man |
s a factor In the building up OF COM |
uunities. He has his place IN the |
economy Of business and Industry. Let |
ilm 60 back to safe and sane principles |
md disdain the chimerical. and he viii |
have equipped himself for even greater