Show f Four Million I i Q Dollar L r J Bonds Are Oversubscribed I S So favorably receives received were the bonds of the Columbia steel corporation corpora corporation corpora corpora- tion for the development of the iron Industry in Utah th that t m trio nib un underwriting ing syndicate announced last week the books were closed with a h heavy vy Because of the demand for the securities the underwriters underwriters underwriters under under- writers found it necessary to to make allotments to subscribers As a result result result re re- re- re sult the bond houses participating In Inthe Inthe inthe the distribution were ab able e to get only about 60 50 O per cent of their Not only did this the issue find favor am among ng distributors but they were reported to have been well received by investors Especially was this true IH in Salt SaU Lake where dealers reported reported reported re re- re- re ported that by noon the first da day clay practically half their allotments and been absorbed and negotiations negotiation under under un un- der del way which probably would care for the remainder Investment I financial houses and some other local institutions ns recommended the securities securities securities high-grade high ties as an exceptionally Investment Furnace Contracts Let While no official announcement has been by the Columbia Steel management management management man man- it has been intimated that ithe the disposal of the block of bonds of an authorized issue of would snake immediately immediate ly available all funds necessary to startIng starting development in n Utah It was announced several days ago that notice had been given to citizens of Provo and Springville that tuat construction construction c- c tion of or the blast furnaces between Provo and Springville would be started by March 1 if lne ground for forthe forthe The byproduct byproduct by by- the plant were av available product coke ovens a also aio so are to tobe beI be I erected In that vi vicinity Contract were let about a for lor the the- furnaces week ago to h h. Chicago nr firm L. L A. A Kennedy and Herman nr Brassert serL of Chicago consulting engineers for the company are now In Salt Lake making making making mak mak- preparations for ing ing preliminary starting construction In connection with the general development it was announced yesterday yes yes- by F. F Rains one of or the vice presidents of or the Columbia Steel corporation corporation cor cor- that contracts na had been signed with th tho Utah Power and for power for the op- op I Light company oration of the Columbia coal property property prop prop- erty In Carbon county This will require require require re re- re- re quire the construction or a transmission sion ston line from Helper to Columbia I the new coal camp a distance of or about thirty miles The work on the branch railroad to the mine is well under way the grading being about half completed The gracing for the surface tram at the urine mane is finished and the work of opening up tue tae mine mIlle Is reported to be progressing satis satis- I The site for the furnaces and coke ovens of the Columbia between between between be be- tween Provo and Springville is being acquired by a committee of citizens representing the two towns In an effort to facilitate the starting of or construction cons by early delivery of the site a mass meeting is to be held at atthe atthe atthe the Provo tabernacle at 7 30 o'clock next Monday night No effort is to tobe tobe tobe be spared to Insure delivery delI of the ground to the st steel el company so asto as asto asto to permit construction to be begun on or before March 1 Nothing has been cone as yet to toward toward toward to- to ward the development of or the Jon iron properties of at the Columbia In Iron county count but action is contemplated early in the spring The rho Salt I aKe Route has Intimated that thai steps are areto areto areto to be taken immediately Jol ng to the construction of at the vr Dranch railroad railroad rail rat road from Lund to Cedar City which also will serve the Iron Held nelll The branch road from rpm Delta to Fillmore was placed in service early last Jast week we and nd it was announced they h rat riat the engineers of th company would go goto goto to Iron county Immediately tt to start preparations for construction of the Cedar City line Inasmuch as the tle theiron iron deposits are about tw twenty five five nty-five miles from Lund It will be Impracticable Impracticable impracticable to undertake an extensive program of ot development of ot the Iron holdings until rail transportation s 's s will be beabout beabout beabout afforded The new branch about thirty-five thirty miles Jong long but there will be little If any heavy construction construction con cun- rand end it Is believed b d that a aline aline aline line can be bo made serviceable between Lund and the iron fields within three e eor or four months after atter construction is Js begun o |