Salt Lake Tribune | 1903-05-20 | Page 11 | Phipps Likes Outlook

PHIPPS LIKES OUTLOOK Pittsburg Millionaire Has Faith in Citys Future TO IMPROVE PROPERTY HERE Well Satisfied With His Salt Lake Investments But Believes Building MaterialsAro Too High Warrant Beginning tho Work at Once J Henry PhIpps tho Plttsbiirg millionaire was In the city yesterday on route East from tho Orient where he has boon traveling trav-eling with a party of friends Mr Phippa Is known throughout tho country through his former association In business with Andrew Carnegie While In the city Mr Phlpps announced his intention of expending a largo amount of money In Improving tho property which ho owns here Since his last visit to Salt Lako the prospects of tho city have grown to such proportions that ho has decided to Invest to a larger extent In real 1 estate Among his properties which may ho Improved arc the biylldlng at Third South and Stato streets known as the Halls tho lots on tho north side of Second South street between Main and Commercial Com-mercial nnd the property at tho corner of State and Second South streets Tho Improvements nro not likely to be rondo soon for the reason that Mr Phlpps considers con-siders that materials for buildings are too expensive nt tho present time Mr Phlpps spent a portion of the day with Tuttle Bros the real estate men who nro hln local agents looking over his extensive holdings which aggregate nearly near-ly a million dollars Ho Is ono or Salt Lakes heaviest taxpayers and expressed himself as well pleased with his investments Invest-ments here