| OCR Text |
Show I BIG STEELWORKS lat Sale of Copper Plant llfeans. i Utah Fuel Company Believd ! to Have Alliance With San Diego Corporation. Plant Will Be Established forMtinu-fncturo forMtinu-fncturo of Pig" Iron at Mines and Finished Product Here. That a deal Is on for the purchase of the- old-copper plant northwest of the city there Jy not the slightest doubt, the ' story in' regard to the matter appearing Jn Friday morning's Tribune having been confirmed as to the Important fact if not as to all the details. While it ! -was Impossible yesterday to obtain from I officials of the Utnh Fuel company ad missions that that company was negotiating ne-gotiating for the big' plant, there Is a Hj great deal of circumstantial evidence not only that such is the case, but that HP it is the intention to use it for a large steel works and manufacturing plant n for working up the product of the n Southern Utah iron fields. Trent Is Reticent. "When S. V. Trent, the local rcproson-tatlve rcproson-tatlve of Lewlssohn Bros, of New York, owners of the old copper plant, was H again questioned yesterday 1n regard to the reported sale of the property he again admitted that there was some-Hji some-Hji thing doing in that connection, while n protesting that he could say nothing.' Hi "I am not in position to say a -word about It." aald Mr. Trent. "There will H: Ilkeiy be some developments In a few H) days, however, and' then I will be glad 1 to tell you all I Imow." Hi This statement Is important at tlite Hl time only as being confirmatory of the Hn report from a source very closely as- HH sociated with tho parties tc the deal ' that an option on the property had sometime since been given to the Utah Fuel company and that the option was ' about to be taken up. 1 Fuel Company's Holdings. II Is known that the Fuel company has for some time past been quietly ac-M' ac-M' quiring large holdings in Iron county l and it is learned on good authority that it has been forming very important connections with a view of utilizing the product of the new fields on a large 1 scale. It is said, in fact, that the Utnh tl Fuel company has become an impor- 1 taut factor in the great company or- ganlzcd, in San Diego, Cai., a few months ago, with a capital stock of $40,000,000, for the purpose of explolt-1 explolt-1 1ng the Lower California Iron fields, and l with the announced intention-of build- l ing a mammoth steel plant at San Diego. The Fuel company has an alll-H,. alll-H,. with this big company, ic Is said. and the plans originally announced have been extended not only to take In the Utah Iron fieldw. but to Include a large plant at Salt Lake City in addi-tion addi-tion to the one at San Diego. These plans contemplate the building of mills n right at the mines for the converting of the ore into pig Iron, which will be . shipped to the. mills here and at San B'j Diego for refining Into steel and ' other H! forms for commercial use. I A Gigantic Project. flfl Tne Proposition as outline la one of ! vt,T large proportions, but It Iw believed Hj to be not In the least overdrawn. "While the Utah Fuel company has for some I reason kept very quiet in regard to its I acquisitions in the iron fields, enough I has been revealed to show that lis in- Ij. It-rest Is a very important and an ac- llj tive one. DuriDg the months of Janu- '1 ary. February and March of this vear i a well-known Iron expert was In" the Southern Utah fields In behalf of the stockholders or bondholders of the Utah Fuel company. This expert examined ft number of mines and a large terrl-tory terrl-tory of iron lands, and it is said that he canied with him contracts and H,i deeds for much of the propertv which T-ere duly signed up and turned" over to i the company or its representatives. It l is also known that under his direction a. townsite was mirveyed and platted at one of the most important mines. Hi Getting: Beady for "Work. Hi Jt J believed that the company is get- ready to begin operations in "the iron fields and that IL Is buying the old H copper plant with a view of installing j j there the works which will convert the 1 pig iron Into the finished product, with j probably some auxiliary manufacturing E works in connection. The plant is an j Ideal one for the purpose, so far as the f location and the great substantial f. -buildings are concerned. And when it is considered that the buildings and the ninety-four acres of ground arc beltur purchased at considerably lcs th'in ! one-haU! the cost of the buildings alone l it Is realized that tire deal is an attract Ive one In connection with the project Kj "which the company has. on foot. |
