The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-21
H0PEFULNESS IS
POTENT FACTOR
Continued From Page Twenty Two.

Continued From Page twenty-five.
mcnt OF money in Salt Lake real estate.
This is the time of the year when they
are in the form Of commissions to find
houses for fall and winter use and
some are for the investment OF specific
sums in business or other property.
Upon the advice of the dealers these
inquirers Will come to the city later in
the year TO look over available pur-
chases and close deals.
While building permits fell off dur.
ing the past few weeks. as compared
Salt Lake City is still growing con-
stantly and rapidly. 1t is but natural
that 4 slight setback should be expcr-
fenced occasionally, but there is moth
ing in the building report to cause any
anxiety, and real estate men arc look
ing forward to big business in the fall
months.
Even with the slight loosening up of
The money, market, money is long
ways from being as easy to obtain at
the present time as 4 year ago. This
scarcity of money to font loans on real
estate is one of the factors lending its
Influence to the dullness of the mar
kct Dealers say that applications for
renewal of partly paid loans that re.
quire renewal, as well as new loans
upon small houses, are unusually nu.
merous this summer. The consequence
is that the picking process has been
going on until some loans are hard to
float.
Tight Money Stops Sales.
Several dealers report that some of
their sales have been stopped from this
cause. There is plenty of money in the
banks, In fact, greater reserve than
usual IS being maintained, but there
has been general curtailment of loans
IN all directions. 1t is thought that
there will be a greater supply of mon
ey for loan purposes when business men
return TO the city and turn loose mon,
ey that has been on deposit during the
summer months, II is fact that many
realty brokers have been hard put of
late to find the money to supply good
real estate loans, especially for the re.
newal Of partly paid trusts seeking re.
newals.
Bankers say that this condition has
been brought about as the natural re
suit of selling so much property on
loans with only small cash payment
down The instalIment basis Of buy
ing property has been extensively EN-
ployed for a number of years and
large profits have been made out of it
by investors. Dealers generally believe
that there will be satisfactory ad.
.iustment soon after the beginning of
the fall months.
Building Work to Be Resumed.
The cessation of work on the New
house hotel and the big Auerbach build
ing and number of smaller structures
has caused many people to ask questions
AS to the why and the wherefore, The
strngcncy Of the money market eX'
plains the situation in number of
eases, but not in all AS soon as things
loosen up, it is thought that work on
these structures will be resumed 1t is
rumored that the Newhouse hotel has
been adequately financed and that work
will be resumed within a short time.
Construction work on the Utah hotel,
the Kcnrns building and scores of apart
ment houses is being pushed with Wig
OF The slackening up has affected work
on only small proportion of the build
ings under way.
The demand for residence lots has
been good during the past week. Own
ers of various subdivisions and addi.
tions report many sales. principally to
people who intend to improve with mod.
ern homes.