Show MILNER IRON interstate IN MAMMOTH COAST STEEL MERGER the following special dispatch to the salt lake telegram by john E hall indicates more big doings in the development of utah iron deposits long beach cal july 25 establishment here of the refining plant and rolling mill of the pacific steel corporation a merger of leading steel interests on the pacific coast and said to include the milner interests of utah is believed to be assured as a result of an agreement signed by representatives of the company and city of officials f the plant with the distinction of being the first in the west to refine the raw product will be located in the long beach harbor district to make easy the shipping by water of the finished steel only negotiations with the union pacific railroad over freight rates remain to be settled before the last question in connection with the establishment of the plant is disposed of dredging promised in return for establishment of the plant the city gove government rn pledged itself to do dredging work estimated at one half million dollars in the harbor with the be beginning inning of the edging dredging the steel corporation agreed to post a abbond bond of ato 0 to insure that the construction of the first unit of the plant at a cost of approximately would begin immediately the steel company has had an option on acres of land in m the harbor district for a considerable time and the option was tended extended at a consideration of during the degoti actions be lons over the dredging the purchase price of the site will about it is understood utah colorado and the san bernardino benardino cal coal and I 1 iron on deposits will be utilized by the projected plant according i to lo statements made to the local city officials the ne plant will ay upwards of skilled workers and will have a pay at roll of more than a million dollars six hundred tons of rolled aei i will be turned out daily it is said t heavily capitalized E abe pacific under the daivs la steel corporation was incorporated the th of delaware laware Pa ware last fall with a capitalization of I 1 elf I 1 fic article articles artl cles S of incorporation called for a merger of the pairon coast steel eel company of san francisco the southern of oduth ron and steel company of los an angeles eles the milner interests land and other steel interests ests loc located abed in san F francisco ran cisco port here re ii and A seattle it has been indicated in the negotiations nolond 0 longer that the southern athern california iron and steel company is be the a party ot the merger included however are said to wl I 1 son 0 interests crests control large part of san francisco said to a of the clatys casts steel industry the final fi establishment of the defining ining ef plant here will constitute th the e Eastern p 1 step of the west toward complete independence from steel manufacturers in the t past pacific coast plants plant s h have ave turned out refined ts T steel but the raw product has been scrap iron and steel salvaged from various sources the new plan calls for development of the deposits of iron ore in the western states the making in of the ore into pig iron the refining into steel and the manufacture of the innumerable steel products D M eynolds Ry vice president of the pacific southwest bank represented the steel corporation in the negotiations with the long beach officials over the harbor improvements his own signature was attached to the agreement calling for establishment lish ment of the plant with the beginning of the harbor work |