The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-08-04
BUSINESS AND TRADE.


In business circles the great event
Of the week has been the consumma-
| tion of the deals whereby q number OF
electric light companies have been con-
solidated. The Electric Bond & Share
company. which has effected this con-
solidation. appears amply able to swing
the big deal No doubt important i'm
provements will be made, and the dlf-
ferent communities of this State VIII
be we'll served in this consolidation.
A new reclamation scheme was
sprung during the week involving tho
expenditure of 100000 to reclaim a
considerable tract Of rich land in EN-
cry county known as the Buckhorn
flats. There has been from time TO
time an effort made to get action upon
project to reclaim these flats, but
something has always intervened to
prevent it hitherto, Now the project
seems to be on firm basis and to be
well planned
| The sale Of the old Godbe-Pitts cor
ner, the southeast corner of First South
|
the rate Of $4,000 per Main street front
foot, marks a record price for property
on that street. 1t is undoubtedly one
of the most valuable corners On the
street, and the sale was a significant
one. The building which occupies the
corner was in its time one of the best
in the city, and it is an old landmark.
The Clayton Realty company, which
made the purchase, contemplates event
ually the construction on that corner
of modern business block.
A little ruction was made during the
week in hotel circles by the action OF
the Board of Governors of the Com
mercial club in moving to have the
skeleton Newhouse hotel finished and
opened as n modern hotel. Some of
| the hotel interests in this city are III
opposition to the action of the Com
mercial club, but that club urges that
| it does not wish to interfere with any
ones business, that the uncompleted
structure is an eyesore to the city,
and that inasmuch as we are inviting
large conferences, congresses, and asso-
Citations TO hold their meetings in this
city, it is necessary for Salt Lake to
have increased hotel accommodations.
1t is urged TINT the withdrawal Of the
Knutsford hotel makes room for in
creased hotel accommodations in spite
OF the fact that these accommodations
have been largely increased within the
past three years The move for develop
the Commercial club proposition,
should not be halted by reason Of in
terests already established, for if this
is done, those in control OF the inter
ests now here will be made the judge
of whether those interests ought to be
to, see prosperity attend the hotel busi-
ness in this city, both that which is al
ready here and that which may be
added. But it simply expresses gen
eral sentiment that something ought TO
be done with the Newhouse hotel, for
in its present condition it is a standing
warning against building progress IN
its line in Salt Lake.
Work is progressing on the half
million dollar high school on the east
bench. on the Paris Millinery store, on
the new Orpheum, and on the other
large building operations in the city,
while the construction of residences,
flats, and apartment houses is active
in different parts OF town. There is
some anxiety beginning to be mani
tested by the people of Salt Lake with
regard to the construction of the cap.
itol as it is probable that if substan-
trial work has not been done upon that
structure before the next legislature
meets, there will be a damaging war
fare sprung against building capitol
here for many years TO come.
The sale of the Godbe-Pitts corner,
above mentioned. has been the leading
real estate event of the week. A $780,
900 transaction on Third South street
property has also been practically con
summated, but the details Of which are
as vet withheld. The effect of these
sales upon the real estate market is ex-
cellent. All realty dealers report q
steadily improving business, and all in
sist that Salt Lake realty will pres
emily come into very active demand.
The general business of the city has
been good during the week, The re-
moval, clearance, and bargain sales
continue. The merchants are prepar
ing TO ship In large stocks of goods
and wares for the fall trade; buyers
are in the East making their purchases
now. Trade is healthy and profitable
Cash sales increase, and collections con
tinue good. as shown in reported de-
crease Of outstanding accounts.
The week has been distinguished by
numerous thunder storms in the even
ing and at night The precipitation
has been unusually large, and undoubt
cdlv it will be of much benfit to the
| agricultural interests. of the State.
The most important news Of railway
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