Show new steel iron coal merger formed by powerful utah california interests according to a san francisco story contained in a special dispatch to the salt lake tribune of yesterday a gigantic coal iron and steel merger has been effected on the coast during the past few days the new corporation in fact the entire proposition has been whipped into form by L F rains the well known salt lake coal operator president dent of the carbon Juel fuel Jp C and other utah coal minin mining enterprises accor according in to the report he has been joined by W E creed of san francisco president of the pacific gas electric co and a powerful combination of other california and utah coal iron steel and financial interests the story as it comes from the coast is given as follows into this mammoth financial and business amal amalgamation ama have been drawn the utah coal coke company of sunnyside Sunny side utah the columbia iron steel company with plants at pittsburg cal and portland ore the southern Calfi ornia steel company of los angeles and several rich iron properties in the iron springs mining district in iron county utah purposes of combine enumerated included in the plans formulated by those effecting the merger are these enormous projects construction of a ton blast furnace construction of a large products byproducts by coke plant development of the utah coke coal companas comp anys properties building of a railroad from the denver rio grande western sunnyside Sunny side branch to the properties a distance of tour four and six tenths miles development of the rich iron deposits in iron county utah construction of twenty five miles of railroad from the station of lund on the los angeles and salt lake route to connect the iron deposits with the main line of the railroad taking over of several large limestone deposits near salt lake further development of the three plants of the columbia steel company and the southern california steel company development of a large steel plant at or near salt lake salt lake to be operating center the blast furnace and steel plant will be located probably on utah lake behind this announced program of construction and development lies a plan calculated to open the west from salt lake to the pacific to an era of unprecedented busi ess and industrial prosperity in a word in the rich and undeveloped iron iron deposits of utah there are calculated to be bc tons of iron ore e in the iron springs district alone which are to be be transformed amed into iron and steel and manufactured into products of every description for sale and use on the pacific slope and adjacent states of the west and from this will follow in the opinion of those behind the gigantic project an era of new industries in the west new manufactories manu factories using the iron and steel products manufactured for the first time from pig iron produced in the west how great will be the resultant commercial development growth of trade expansion of industries employment of skilled labor and increased population is more than than the men of big 6 business behind this latest p project can presage undertaking developed by L F rains the father of the project is a salt lake man L F rains president of the carbon fuel company and other corporations of salt lake several years ago mr rains conceived the idea of a merger that would make possible laying open the rich iron deposits of utah and the development of iron and steel product manufacturing in the west he I 1 ie set to work alone at al first two years ago his work became intensive he consulted others and laid out his plans little by little he saw the idea grow and develop A week or so ago lie he came to san francisco to conclude the deal with his associates there were conferences each day at which the myriad of details incident to the plan were considered and discussed by experts yesterday all obstacles were swept aside and mr rains his dream fulfilled sat modestly in the lobby of the bellevue hotel to unfold exclusively to a tribune correspondent every detail of this enormous undertaking rains explained with the understanding of an expert how the coking coal properties in utah controlled by the ua utah ah coke coal company will supply the coke and coal for the great iron and steel plants of the new pittsburg he pictured the great undeveloped iron ore deposits of utah how they have lain dormant like buried pots of gold and how pacific coast iron and steel mills have had to rely on scrap iron for iron and steel products manufacturing this he declared had led to extremely limited production of iron and steel products on the pacific coast making it necessary for western industry to draw on the cast for these necessities one hundred and fifty million dollars mr rains said are sent to the east each year by pacific coast industries for that are manufactured in the east iron and steel products and sent to the west for industrial purposes not only will that be kept in the west hereafter said mr rains but with the manu manufacture fact ure of iron and steel products herein the west it will bebbs be possible sible to supply western industry with its products cheaper for the cost of transcontinental freight rates will have been eradicated picture the growth of industry that is destined to follow the coming comin of new industries the greater circulation of money in the west increased employment and commercial de development the opportunities are without limit and beyond conjecture properties going into merger worth As a still greater golden dream mr rains sees the deposits extending over the pacific coast fromi from british columbia to mexico deposits which have remained for centuries under earth through 6 h the lack of coking coal to make possible the extraction of the raw product mr rains idea fundamentally was simple pie he knew the alie need for coking coal to develop the raw product from iron ore he realized that virtually all iron manufacturers were drawing on these deposits to meet their pig iron necessities he saw the few iron and steel mills on the pacific coast obliged to use scrap iron because no one had taken the trouble to bring together toc rether the coking coal deposits and the iron ares ores of utah that in a word sums up the meaning of his gigantic I 1 undertaking mr rains estimates that the value of the plants and properties drawn into the merger is the remaining represented in the capital investment in the amalgamation will be spent in development work in utah and california he said all details of the merger have practically been worked out according to mr rains and it remains now only for the concluding of technical phases of the project legal ends it has not yet been decided whether the new corporation will be incorporated under the laws of utah or of california the merger as yet is unnamed W E creed of san francisco president of the pacific gas electric company and the columbia iron steel company one of the financiers in the merger will be president of the corporation mr rains will be one of the vice presidents the full list of officers has not yet been chosen eminent men concerned in big enterprise mr rains associates in the project are as follows from utah A C ellis jr attorney and president of the utah gas and coal company W W armstrong president of the national copper bank duncan macvichie captain E J president of the tintic gintic standard mining company from southern california A C denman Dent nan jr president of the southern california iron steel company william R staats russel mcd taylor S K rindge 1 15 AW grier E G pratt and C 0 henderberg Hen derber g from san francisco W E creed joseph sloss J D grant D H botchford A E boynton W C hammond and herbert regarding the blast furnace to be constructed at salt lake mr rains stressed the point that it will be only a beginner and that the construction of additional furnaces of similar or greater size may follow one feature of the project is that the plants and corporations po rations amalgamated will lose their individual identity and will become constituent units in the corporation mr rains announced last night that the harriman railroad system will give rates from utah east to kansas city mo and council bluffs iowa on iron and steel I 1 products from that you can see he explained illustrating illustrate his statement on a map of the united states that our corporation po ration will cover a territory stretching 4 from seattle to san diego dieg o and eastward through utah to kansas city and council bluffs there will be shipped from utah to the portland los angeles and pittsburg cal plants pig iron steel bil lets an and d blooms manufactured from iron deposits of the utah fields As units in the one b great system these p plants lants will fabricate the steel and turn out the products the whole system will work with the union of one great smooth running machine coking coal supply extensive mr rains declared that there are tons of coking coal in the properties of the utah coke coal company the seams scams being seventeen feet in thickness here is mr rains summary of the big project as made tonight to the tribune correspondent the enterprise is so connected in the scope of its operation that I 1 cannot understand why it has not been put into effect before coke and coal are essentials in producing pig mon iron the bests greatest coking coal deposits are in utah all the western steel plants should have drawn on these hese deposits for their manufacturing purposes pacific coast mills have not been using pig iron in manufacturing their products of iron and steel for they never have had access to coking coal they have confined their operations to manufacturing from scrap iron this has meant extremely limited production so limited in fact that each year there are brought into the pacific coast from the east steel and iron iron products including man manufacturing b equipment machinery building 1 materials and the like aggregating now we will dig the iron ore deposits from the bowels of the earth in utah send them to utah plants for tans transformation formation into iron and steel products with the use of utah coke and coal that means that in millions illions which will in the evest th west it have heretofore gone east annually stay chevest means more business more money more industries more employment more prosperity and it means nothing less than that utah will become the pittsburg of the great golden west |