Show UNITED DRUG CLOSES DEAl DEI DEAlON ON S. S 51 L. L SITE Deposits i 1 Taking Taking Taking Tak Tak- ing ing Over Main and Second Second Second Sec Sec- ond South Corner Following negotiations which have been been- pending since August when W. W Watts vice president of Liggett Co a subsidiary of the United Drug DruA company of New York Yora was In In S Salt lt Lake a deal approximating approximating mating mating- half a million dollars was completed Friday for the sale of the theold theold theold old northwest corner corner cor cor- ner ncr of Second South and Main At 10 o'clock Mountain time a check for was deposited here to the credit of of the Joseph R. R Walker estate Simultaneously in New NewYork NewYork York 12 o'clock Eastern time re releases releases releases re- re leases of mortgages and guaranties were interchanged between the Liggett Liggett Liggett gett comp company ny and the the Mutual Mu Mutual Life Insurance company compan The deal means a 0 new drug store on the corner of S Second cond South and Main l within sixty to ninety days It means also the erection of all all- other skyscraper in the heart of city P ns for this building are being being being be be- ing considered but the new structure structure structure ture will not go up until business conditions of the intermountain ln country are further analyzed In Inthe Inthe Inthe the meantime the new purchasers I for temporary Improvements improvements improvements Im im- im- im I of the present structure With it comes the United Drug company the largest drug company compan In the tIe world which with this In Investment Investment investment In- In vestment announces Its definite confidence In the Intermountain trade territory BEGUN LAST AUGUST I Negotiations for the transfer were inaugurated in August when the Bankers Trust company of oC New NewYork NewYork NewYork York took it up with the Bankers Trust company and the National Copper bank of or this city through W. W W Armstrong With the u. u rival of Vice President Watts of the Liggett company subsequent negotiations negotiations were carried on through John E. E Russell of the local Bankers Bankers Bank Bank- ers era Trust company acting as attorney attorney attorney ney In fact for the Liggett compan com corn pan pany Thirteen different sites on Main street had been Investigated by the Liggett people Subsequent negotiations Involved the adjustment of a mortgage on the Central building held by the Mutual Life Insurance company The Walker Walk r estate gets a fat tat sum sum for Cor its Interest in the old building which was built In the early days after gHer the mortgage obligations were settled The field real estate agent for Cor the Liggett company will arrive In San Sau Lake next week At that time ar arrangements arrangements arrangements ar- ar will be made for for the opening of oC the new drug store on the corner taking In part of at f the stores now existing existing- there All leas leases existing at time of sale are canceled canceled canceled can can- with th the sale saie but there will willbe willbe willbe be little changes on the upper floors of oC the the building building fu further ther tha than n the Im Improvements Improvements Improvements Im- Im contemplated It Is un understood understood understood un- un that that the Painless Parker dental offices will not be at this time TO BE REMODELED I ani am Informed from New York that the remodeling for the opening of the state will be started at once said Mr Russell today It appears to be the Intention to rush construction tion and It Is possible that the store will be ready for occupancy in sixty da days s. s Plans for the erection of oC a skyscraper will be held in abeyance until conditions warrant such a n structure as the company thinks proper for Its business In this seo sec see see- tion The United Drug company which has hundreds of stores In Europe and America and which Is famous for or Its Rexall products will doubtless doubt doubt- less designate the new store as the Rexall store it Is understood It ItIs ItIs Itis Is understood that this will be but butone butone butone one of ot the Rexall stores that will be built in Salt Lake or the Intermountain tam tain country |