The San Francisco call., 1908-11-19

Mf the Davenport cement works
Wv near Santa Cruz has come to
light the temporary financial
embarrassment Of William J. Dingee
The development OF large enter
prises at the east and on the Pacific
coast, together with the recent strin-
gency IN the money market, has tied
up a big part of the fortune Of the
Oakland and San Francisco capitalist
and has compelled him to relinquish
control Of one Of his most promising
ventures.
The big cement plant near Santa
Cruz viii soon pass into the hands Of
William H. Croker. The Crocker
national bank has advanced large
sums on the property and the point
has been reached where Dingee can
no longer handle the enterprise
May Affect Bonds
This unexpected turn of affairs will
be Of some interest TO the graft prose
cution, as Dingee IS one OF the bonds
men Of former Mayor Schmitz.
Dingee and Thomas H. Williams OF
the California Jockey club qualified
jointly in the sum Of 100000 and
were thus able to keep Ruefs Doodle
partner out OF prison until his con-
viction on the extortion charge.
After the mayors release by the ap-
pellate court they went to his aid
second time. District Attorney Lang
don may, as a precautionary measure,
question Dingee concerning his pres
ent financial status.
The friendship between the capital
ist and Schmitz was the subject Of
much comment at the time the former
mayor was exposed by me grand jury.
Dingee met Schmitz in New York
upon the latter's return from Europe
and offered consolation and advice our-
ing the early days of the prosecution.
Dingee always maintained that it was
their mutual love for flowers that
brought them together. There were
rumors TO the contrary, however.
400 Workmen Strike
The climax in the business affairs of
Dingee came yesterday when 400 en-
pIoyes at the cement plant refused to
return to work, claiming that they had
not been paid for more than two
months. Dingee made overtures for
further advances, but the negotiations
took different turn and arrangements
are now pending by which the Crocker
interests viii come into possession of
the plant.
The Davenport plant has been valued
rs high as s5.0O0.oO0. The development
OF the enterprise has been extremely
expensive. but operations have been
pushed forward with the knowledge
that they promised ultimate success.
In spite Of this prospect Dingee has
found his available Resources made
Quate to meet immediate demands.
For a number of years Dingee has
been rated as one Of the wealthiest
men in California He was the prin-
cipal stock holder in the Contra Costa
water company. had a magnificent home
in Piedmont hills. and owned con-
trolling interest in vast industrial prof.
ects. It was with great surprise, there
fore, that the business world learned
yesterday that some Of the cement
company notes had been protested and
that the creditors were unwilling to
make further allowances.
Many Irons in Fire
At the time the Davenport cement
company was eating heavily into the
Dingee fortune the capitalist was fnan-
cling another big cement project at
Vallejo junction, two similar enter
prises in Pennsylvania, a slate industry
in California and had arranged for the
purchase Of an 100000 home in New
York. All these matters were pending
when the financial pinch came suddenly
u pom the country and the capitalist
found himself pressed for ready funds.
II was less than two years ago that
Dinzee sold his Contra Costa water