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Show HOUSE BUILDS 01 INCOMPLETED Purchasers Announce Facta in Connection With Important Im-portant Transfer. $1,500,000 IS INVOLVED Heating Plant Goes to the Utah Power & Light Corporation. The two great Newhouse buildings the Xewhouse and the Boston on the corner of Main street and Exchango place, changed hands yesterday. At the same time the big Newhouse beating beat-ing plant, which heats these two ladings, lad-ings, the Xewhouse hotel, the ComnT cial club and other adjoining building?, also changed hands. The Kcwbonse building becomes the property of former Mayor Ezra Thompson Thomp-son and his busiuess associate, James 1). Murdoch. The Boston building is transferred trans-ferred to r. J. Halloran and Stephen Hays. The power plant goes to the Utah Tower & Light company. Mr. Thompson and Mr. .Murdoch are already large holders of Main street frontage and the same can be said of Mr. Halloran and Mr. Hayes. The dealL which involves approximately approxi-mately $l,o00,000, is said to be the largest real estate transaction ever made in Salt Lake, or. for that matter, mat-ter, in the state of Utah. The record-breaking record-breaking transaction was handled by h. W. Sowles and Ruel G. Halloran, officials of the Hnlloran-Judgo Loan & Trust company, representing the purchasers, pur-chasers, and by an agent oi' the New-houso New-houso Realty company. Values Are Increased. Tt is announced in connection with the sale that both buildings will hereafter here-after be under the supervision of the Halloran -Judge Loan & Trust company. The Newhouse and Boston buildings were built bv Samuel Newhouse iu 190H-I907. The approximate cost of each building, exclusive of the ground, was $830,000. Each of the buildings has a frontage of seveuty-niue feet on Main street and l."2 feet on Exchange place. These two buildings are regarded regard-ed as among the finest "office buildings build-ings between Chicago and the Pacific Pa-cific coast. Realty men who are familiar fa-miliar with conditions in Salt Lake sav that each of the buildings, entirely filled with tenants, now represents aa approximate value of .tl.'pOO.OOn, and that in view of the increased cost, rC materials and labor neither buildingV could be dunlicatcd at this time for less than $1,000,000, which is $150,0011 each more than they cost Mr. Newhouse a 1, the time of their construction. So far as Mr. Newhouso is concerl. it is said the sale of these two great structures, still leaves him iu the millionaire class, after repaying Samuel Sam-uel Untermyer large sums advanced by Mr. Untermyer on the tw-o properties. Other Newhouse Properties. The present holdings of Mr. Npw-house Npw-house include the Newhouse hotel, all of the property on the north side of Exchange place running east from the mining exchango to State street, and on the south side of Exchange place all the property from the Commercial club property to State street, including tho property on Fourth South street now occupied by the Inter-Mountain Electric company. Mr. Newhouse also owns a railroad fifty miles in length in Arkansas, which is said to be a valuable piece of property, prop-erty, paying large dividends. Mi'. Newhouse, in addition to these buildings, build-ings, is largely interested in various mines, rancnes and residence holdings of great value. The purchase of the heating plant by tne Utah Power & Light company is nnnther st.en towards the sale of heat to the business district from one or two important distributing plants. It is said that the Utah Power & Light company will soon connect the New-house- plant with the church heating plant -which heats the Hotel Utah, the Temple, the Tabernacle and a number of other large buildings ou upper Main and South Temple streets, which will pave the way for a system of distribu-tion-bv means of which the entire business busi-ness district can be heated. This, it is said, will do much to minimize the smoke nuisance, w-hich is one of the serious problems the city has had to deal with in the past. |