| Show NEW UTAH STEEL COMPANIES ARE SCHEDULED TO FORM MERGER the columbia steel corporation and pacific steel stee I 1 company the two newly organized industrial projects that are to develop great iron ore deposits and build a steel industry for the west are to be merged into one mammoth enterprise according to press reports of a few days ago L P F rains leading local mover in the columbia company and the milner brothers brother s whose property is tile the basis for the pacific comp company aily are all in san francisco lending credence to the rumor that the two companies are to be consolidated into one bi big ID compan company y which will be incorporated under the laws of delaware columbia steel first in field the columbia steel corporation was organized first and took over the property of the utah coal and coke company near sunnyside Sunny side said to be one of the largest coking coal properties in tile the state and also acquired control of a large acreage of iron ore deposits near iron springs iron county utah construction work for this company has been under way at the companas comp anys coal property for some time and includes tile the building of a railroad to connect the pro property pirty with the denver and rio grande lines lilies and building of tipple and mine entries to bring the property to production the company ha has s acquired and taken options on a tract of land between provo and springville Spring ville on oil which its blast furnaces are to be built the plans providing for a ton furnace as the first unit of installation this property is now being surveyed for the plant 4 tile the columbia steel corporation also filed request with mlle the public utilities commission for certificate of convenience bence and necessity for construction of a railroad from the salt lake route to its iron ore deposits at iron springs the union pacific railroad company filed request with the interstate commerce commission for the right to build this road however which was granted shortly after announcement of the columbia steel co abr r horation po ration organization Z the pacific steel company was announced noun ced this company was organized on the vast milner iron ore deposits near iron springs and the coal properties of tile the same interests located in in carbon county no announcement has been made regarding location of this companas comp anys blast furnaces merger involves millions if the two t wo vo companies are merged it will concentrate into one operation tile the blast furnace construction which probably will follow the columbia steel corporation plans since that company has already selected blast furnace site secured property and has nearly completed surveys for the construction since the foregoing 2 dope was ladled out by the daily press a special dis dispatch patch from wilmington deleware announces that the columbia steel corporation has filed its articles of incorporation the document bears the signatures of W E creed J D grant and joseph sloss of san francisco as incorporators the capital stock is given as one half of which is preferred and the balance common stock this would seem to indicate that if the talked of consolidation is to materialize it is likely to be an absorption proposition with columbia steel as the absorber |
