Arizona republican., 1912-09-15
BALKE'S FAITH
 IN PHOENIX
He Has Proved It by Add ing to His Valuable Holdings at the Corner of Adams Street and Second Avenue

The most important financial deal of the week was that resulting in the transfer of the two-story building at the northeast corner of Adams and First avenue from the Orange Grove Investment company to R. L. Bake who already owned the property be- tween it and the Valley Bank building on Adams
 Mir. Bake has been after this prop erty for several years The principal stockholders of the company are w T smith and Joseph Monihon, Mir. smith being the president of the company. and all being oldtimers and solid business men of reputability. They also knew that they had something worth keeping.
 When MT Smith put a price on the property and when MT. Bake had given it consideration and had made up his mind to meet it he always found that the value of the property had advanced. When he first thought about buying he could have secured the property for about one third of what he had finally to pay. He found 1t was necessary to meet the price while 1t was fresh in the mind of MT smith. Though he regrets that the deal was not consummated some years ago. he still believes that he has a bargain.
 It was eight years ago that MT. Bake bought the adjacent fifty feet on the east from Dr. c. L. Mahoney through the D. B. Heard agency pr. Mahoney wanted to sell because he believed the city was robbing him by the process of taxation. His taxes on that property were about $60 d year The property would now bring in the market five times what was paid for it.
 Regarding the subject of taxation. Mr. Bake entertains the view that high taxes are sign of prosperity. either of the fact that property is valuable or that the town is progress slve and has made improvements or is contemplating doing SO
 Since it was first announced that Mir. Bake had purchased this prop erty he has been asked to name a fig ure for it, but he has replied that it is not for sale On the contrary. he expects to put great deal more money into it in the shape of inn proVementS as soon as some of the leases now held, expire
 This corner, embracing all of the block on Adams street west of the Valley Bank building and extending 1 along First avenue to the alley is be- lleVed to be one of the best in the city, on account of it's proximity to the federal building and the handsome structures of the Y NJ C. A and the Water Users. It has also just been announced that the Realty Securities company has secured the corner at the other end of the same block on the north for it's seven story office building
 Speaking generally of real estate in Vestments in Phoenix. Mir. Bake said yesterday: T have lived in Phoenix many years and have travelled extens- lively through this country and abroad. have found no town anywhere mak- ing such steady and rapid advance ment and every time I have come ! back to it I have been more in love with it than before. The opportunities are not all gone. though maybe. the { best ones have. My advice to all is to get hold of d business lot if pOSsi- ble, and if not, then buy a residence lot. If that cannot be done. the next best thing is to secure some cheap acreage property near the city and