The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-11-16
c. L. Dignowity Discusses Existing
Conditions In East.
TRUST In FULL CONTROL
DIXIE SHELTER READY TO BE
BLOWN IN.
Lime Managers Now Awaiting Sign
ing of Contract For Ore Hauling
West Mountain Placers Look
Good to superintendent Clays-
Conditions at Anchor Mine.

After an absence of more than a
GEAR from Utah. c. l.. Dignowity put
in an appearance yesterday. coming
direct from Boston, from which city he
was accompanied by Alfred w. Gla-
sier. president of the Central Oil COM
pany. and w. B. Hastings and William
Ferguson, prominent capitalists OF
Boston The party was also accom-
panied by Max Boehmer. well known
mining expert of Denver.
Mr.. Dignowity has brought the east
ern capitalists out to make careful
examination of mining projects now
under consideration The various camps
of the state will be visited and inVes-
LEGATIONS will be made into propositions
in Bingham, Tintic and Park city,
while it is possible contingent VIII go
into Idaho, as it is known parties from
the northern state are here to confer
with the visiting magnates-
To Mr. Dignowity considerable cred1t
is due in getting eastern capital at
tracted 10 Utah. Something over two
years ago he went to Boston and
through his representations Mills q
Blanchard acquired interests in Mer-
cur. Others followed as a result and
way was paved for the Highland Boy
sale. which turned the tide towards
Bingham. Mr.. Dignowity was among
the first to show up the advantages OF
Utah mining enterprises over those or
other states.
1.-The copper market has been over
done" said Mr.. Dignowity, at the
Knutsford last night Boston. is dull
just now. Il is an easy matter to go
down there with a meritoriouS mine
and sell it. but the day of prospective
projects is over. You can no more go
to Boston and float a deal on a pros
pect than you can fly. The market
has been overdone. When copper went
on the boom hundreds of people rushed
TO Boston with all kinds of PROPOSE
tions. The result was the market was
flooded. The same condition prevailed
in New York and other money -centers
Of the east. Some who failed OF sue
cess in the money centerS rushed out
into the smaller places and stampeded
the country with propositions from all
over the western states, Mexico, British
Columbia and South America.
1.-The copper trust is going to control
the copper market in the future, con-
tinued Mr. Dignowity; lin fact, the
combine has gathered in nearly every
thing good now. People who have cop
per mines of merit will find market
for their properties. But II they oper-
ate their own propositions they VIII
have to sell their ores to the combine
for just what they can get for them.
1.-The money stringency in the east,
Mr.. Dignowity went on, has had
tendency to knock copper stocks down.
A vast amount of money is out in the
country to move the grain and cotton
crops, while, again, the Transvaal war
has had its effect on the money market.
Until after returns come in from
the money sent to gather in the crops,
stocks Will remain low, but after ninety
DAYS there will be a general improve
ment and advance in prices"
Mr.. Dignowity thinks there will be a
standard nrice adopted for copper. 1T
will go at about 10 cents a pound, he
said, land will give the producers a
fair margin of profit Buyers of the
metal have insisted that a standard
price must be established. With the
price of the metal huctuating constant
" they are unable to place their con-
tracts in advance with any certainty
of safety The copper combine also
realizes that standard must be es-
tablished as a substitute in the way
of alluihinum is threatened
Mr.. Disnowity thinks within the next
few months that gold propositions will
be in popular demand and there Will
be a clamor all over the country for
them. He expects to see extremely ac-
tive times in Utah next year. This
state he says, ranks high in the east
and he believes there is certain to be
an immense lot of money come here
within another twelve months Tintic
will attract a great deal of attention,
and sooner or later Mercur will again
be a center of attraction.
Salt Lake. Mr.. Dignowity thinks, has
a wonderfully bright future. He be-
lieves it viii have great growth
within the next few years, situated as
it is in the center of one of the great
est mining regions in the world If
someone would go east now with Salt
Lake real estate propositions, Mr.. Dig
nowity thinks in short time quite
stir could be made in that direction.