Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-02-26

the most valuable and productive IN the
world. -Four Of these fields have been de-
veloped and great activity is being dis
played over the whole Of the oil-bearing
strata. Next 10 Butte. Bingham is the
greatest copper camp IN the world and
possesses the greatest copper mine In all
the world. silver. lead. zinc are among the
Utah metals. while we have noun
tains OF gypsum and great hills OF
pure rock salt and unlimited deposits
OF asphaltum In fact Utahsis the richest
state in the union in every sort OF metal
and our gem and jewel deposits are un-
equalled in all the world.
Rich in Opportunities.
''The state is the richest in opportunities,
also The enlarged homestead act allows
settlers on Utah lands to take up 800 acres
each And Of this land there are several
million acres yet to be filed on by the fell
lows with sense enough to take advantage
OF the opportunity. II Is a settled and
known fact that this land will grow from
thirty TO sixty bushels OF wheat to the
acre without irrigation And there are
several hundred thousand acres Of choice
fruit lands now being put under irrigation
which. when set to apples and peaches,
will pay big interest revenue on valua-
ton OF $1,000 per acre. At a recent land
sale conducted by tine state Of Utah at
Richfleld on the line Of the Denver g.
Rio Grande railway, there were 10000 acres
of land to be sold under the provisions Of
the state Of Utah reclamation act. This
land lies under tine Piute reservoir and
canal project And the entire body Of
land was sold in one and one-half hours.
Il took just ninety minutes to sell the
whole body OF irrigated lands. There was
not an easterner among the bidders and
in instances the land and water sold for as
high as SOS per acre. This land is still
in the So &c brush, has never been broken,
has never been under cultivation. and yet
il sold to our own people, who know what
such land will bring in actual profits, at a
price higher than much Of the best land
in all Of tie middle west. II is practi-
cally impossible to foresee the values TO
which this land will rise when 1t Is under
intensive cultivation. And the same thing
in land values is occurring right here in
Utah and right now, that happened in the
middle west fifty years ago. The young
men Of that earlier day who had the
strength and courage to seize the oppor-
tunitles in Nebraska, Iowa and Kansas
are now rich. And the young men whU
come to Utah and seize some OF these
opportunities here viii become rich.
Many sales Made.
Mr.. Hubbard during the time he has
been in Salt Lake City has placed on the
market and sold thirty-five subdivisions
and Is now preparing 10 market thirty
sixth This latter will be known as Doug
las Park and will be one of the slightest
portions Of this section. Thus 1t is that
when he speaks Of the opportunity for in
vesiment. either speculative or other wise,
his opinion is by the card
zone Of the examples which shows how
remarkably profitable Salt Lake City in
vestments may become is afforded by cur
experience with Oakley Park" said Mr..
Hubbard 1--WE put that addition On The
market three years ago, selling the lots for
as low as SIS each. They are all SOLD now,
but in the resales 1 noticed by the trans
fers a few days ago that those ame lots
now are selling to other buyers at $3.50. or
a net profit of over 100 per cent in three
years. or 33b per cent per year. This il
occasioned by the growth of the city snd
the fact that values are constantly On the
rise.
Another example is afforded by the
curious experience of Mr.. Claude Richards
OF Kimhal & Richards, another realty
and investment firm here. That company
put on the market Highland Park, con-
sisting Of over 5000 lots. In eleven months
the addition is practically sold out, or a
near average of ten lots per day, The total
amount Of money involved will approach
two-thirds of million dollars, and 1 un-
derstand that every lot has been sold to
resident OF Salt Lake City or Of Utah
Mr., Richards few weeks ago wanted to
build his own home in Highland Park and
was somewhat astonished to find that
there were not enough lots lying together
IN the whole tract to make what he thought
slightly site for his home. He had to buy
from former purchasers with the result
that he paid an advance Of over 10 Ter
cent FOR those lots which he had TO buy
hack from his own customers.
Demand for Money.
Another opportunity is the lending OF
money. Our people gathered from every
station OF the country come here with
limited means and are compelled to use
their available funds for the purchase Of
the home and TO get start. Therefore,
there is an incessant demand for money
at what is a reasonable rate of interest
here, but which is twice as much as the
same money will bring in the east. In
many instances the midwest banks send
their surplus out here to be loaned al
these higher rates Of interest thus maxi
ing a greater profit than would be possible
in any other way.
LEONARD FOWLER.