| Show OUR MILLIONAIRES Men Who Amassed Fortunes by Investing in Sal Lake Realty THE MEN WHO OWN THE EARTH A Few Facts That Will be News to Many PeopleHow Some Starts Were Made There is perhaps no city on this continent in which so large I number of its citizens became millionaires in such a short time as Salt Lake Men who but a few years ago were reckoned reck-oned worth 50000 by a single turn of the wheel of values now rank as millionaires and can take a tour of the world every year without cutting much of a figure in their annual income The freak of fortune touched every landholder land-holder in the city and many poor people suddenly became rich As nearly every old resident owned the house in which he dwelt the appreciation in values fell line a benediction upon all the old inhabitants of the city in more or less degree County Recorder George M Cannon who has watched the current of fortune carry every man who stood in its way to the haven of affluence imparted such information in-formation as foil within his iihaprvntinn to n n a HEUALD reporter After the Brigham Young estate which has been largely sold and divided among the numerous heirs the William Jennings estate is the richest in the city I includes property in almost every part of the city Main street and First and Second South streets The Emporium building is the most valuable block owned by this estate The Walker Bros I think rank next their property including somj of the most valuable corners on Main and Second South street besides a good line of very valuable suburban property Next to the Walkers comes the Groes becks who have a gold mine of Main street frontage and good business property on First and Second South street The Eldredge estate holds a great deal of realty much of which is in acreage the most of the business property being on Main street John E Dooly is quite wealthy in realty and owns the old Gilmer tract cast of Liberty park being one of the best tracts in the whole valley and some very valuable property on West Temple near the Ontario hotel d L S Hills cashier of tho Deseret Na tonal oanir has extensive real estate interests terests both personally I and in corporations persona in which he holds stock W S McCornick holds considerable real estate though the bulk of his vast fortune for-tUne is in mining and other industries T G Webber superintendent of the Z C M L who formerly owned the site of the Hotel Ontario is quite well off in realty though the bulk of his fortune is in stocks ExMayor Francis Armstrong who is president of the Utah Commercial and Savings bank never sold a foot of ground gound until year or two ago except one piece and tbativas in a case where he made a give OKj take offer and the other fellow took him With his fellow directors in the bank he represents f2C03000 The Richards family had a short time agobefore Levi W Richards sold his land to McCornick the neighborhood of three hundred feet frontage on Main street located north of First South At the rate he sold to McCornick tho balance would not sell orlesstban COOCOO 80COO Auerbachs came here in the early days with a load of merchandise and made their start from a very humblo beginning Today their realty in Salt beginning represent close to a millionwhile their merchandise mer-chandise and other property would net as much more He once told me how the blankets he brought here that cost him but little sold like hot cakes yielding him from 300 tojlOO per cent profit One of the most unpretentious men in Salt Lake city is George Romney You will find him all all over town superintend ing buildings and he never indulges in a carriage but either takes his legs or a street car at a nickel a fare He has ono piece of property on Main street just south of the White house that would alone be enough to keep a halt dozen men in ease He is apartner of Geo H Taylor and is a heavy holder of stock in Z C M I George H Taylor is partner with Romney and Armstrong in the lumber business and these three with Thomas Larimers established the business that has since grown into that great commercial enterprise known as TaylorRomney Armstrong Co This firm were all poor men when they came here and today without a doubt represent the greatest gcatest amount of wealth among the Mormonpeo pie found in any one firm W H Rowe assistant superintendent of the Z C M I and in charge of all her manufactures is largely interested in real estate also in stocks Geo M Scott is a large holder of real estatcowninsr tho ScottAuerbach building and the building just westof the proposed postofllce site Spencer Clawson has probably made more money than any other young man among the merchants and has built up a large wholesale dry goods house besides Investing heavily in real estate about the city cityMrs I Mrs Wm Jennings is the richest widow wid-ow in the city and the yearly income on the property that stands in her name would yield a sum that would mike many men think they were very rich The Foramorz Little is another rich estate though he sold a large amount property just before his death The estate owns over onethird of the ten acre block in which the new county and city building is being erected The estate is incorporated incorpora-ted and is now held in the name of the Grand Hotel company There are more poor people owning their own homes here than in any other city in the world of its size It is not onlv the poor who own property here either as we have some of the most noted persons in the world including Lilly Langtry whoso holdings have increased at least 300 percent per-cent There was one tract that was offered of-fered to me for 510JO of which she purchased purch-ased a part that could be readily sold at present values for S50000 A favorable method of outsiders in purchasing pur-chasing land is to hold it in the name of a trustee I think that the most money 1 recently made out of real estate was on Third South and First East tho parties on West Temple holding on to their holdings with great firmness Among real estate agents I think Kesey Gillespie made more money by buying for themselves than any other agents One of the first men who showed any faith in Salt Lake property was Louis Ehrichs of Colorado Springs who came hero in March 1SS7 and invested every cent he had and all he could borrow He bought one block for 512000 just north of Liberty park and you could not touch the same block to day for S130000 That was only ono of the many profitable transactions trans-actions he made Alex Q Smith an old soldier from Burlington Iowa followed Ehrich and while he put in more money ho did not take more out Ho boughtonlSecond Southwest of Mulloy Pauls livery stable that twostory row of buildings for 1 > 00 which 5200000 would not touch today He also bought the the corner south from tho St Elmo at what was conslderedfa big sum then from tho Walkers and several hundred acres across the Sixth wart bridge Ho bought that at a price that would enable them to sell it at an advance of 100 per cent There are along list of others but presume pre-sume this will do for tho present |
