Show UTAH OUTLOOK L V shearer of salt alt lake city whose untiring efforts in the development of the wonderful deposits of ozoli erite in carbon county utah has extended over a period of several years returned from the east the first of the month and brought brou glit with him tile the gratifying news that arran arrangements have been perfected whereby the properties located near colton and soldier summit in which lie he has long been interested will soon be the scene of unwonted activity and extensive development and operation according to mr shearer the Ameri americal America cai ii chemical company a utah corporation has taken over the holdings of the wasatch company formerly owning properties at soldier summit this company mr shearer states has been engaged for the past eighteen months in chemical research work in connection with the hydrocarbons hydro carbons of utah under the direction of one of the most experienced perien ced and efficient hydrocarbon hydro carbon chemists in the world the results of these investigations being of inestimable value to this industry the american chemical company liag has retired the bond issue of the wasatch company by taking up the purchase bonds held by J D pardee and mrs kroupa of provo together with all of its other obligations and is now resuming operations at soldier summit upon an extensive scale its first shipments of to new york were made last week and shipments are now being made to the companas comp anys chemical plant in chicago the company is also taking over control of the property of the utah company at colton principally owned by M P braffet B F caffey and C W shores the first payments being made last week mr shearer also states that the ameri can chemical company has been successful in working out through its chemical research investigation a plan whereby the hydrocarbons hydro carbons of utah may bt bc made to produce a continuous revenue for many years to come including the carbon county holdings of the company the company now has two plants one in chicago and the other in chicago heights the chicago plant went into commission last week while the chicago heights plant will soon be in operation in the manufacture of chemicals in which utah hydrocarbons hydro carbons will be largely employed another plant now in operation in southern illinois is also to be taken into the combination this will enable the company to cover the entire hydrocarbon hydro carbon field for the past seven months mr shearer has been in the east arranging for the financing of this combination which is now fully consummated and has arranged for the resumption of work since his return the first of the month and has also concluded the payment of the bonds and the purchase of the utah company property he left for chicago a few days ago to complete arrangements for the consolidations above outlined which in all probability will make the american chemi cal company a five million dollar corporation with assets back of the organization valued at five times that amount this is one of industries which promises to attain worldwide world wide prominence and which should receive the encouragement of every utah citizen |