Salt Lake Tribune | 1919-12-03 | Page 22 | Wool Cleaning Plant Assured

WOOL GEElllf purae New Dry Process Declared j Improvement Over the j Former Method. Announcement tiiat $t'50,000 will be expended ex-pended in building the first unit of a dry process wool cleaning plant in Utah was made yesterday by C. B. tewarl, assis-, tant treasurer of the United States Wool company, following the granting of permission per-mission by tl,e Utah securities commission commis-sion to sell GO, 000 shares of stock. The plant will be built in such a way th.at additions may bo added any time, and will be enlarged if business com, tions warrant. Mr. ytewart said. The company expects- to scour siu'.O.'i.ou.'i pounds of wool annually at the Utah plant. The new process will revolutionize the cleaning of, wool in the United stat" Mr. Stewart said. Experts have estimated, esti-mated, he said, that the wool clip of tlie United States win yield approximately S50.000.000 annually In by-products i through the use of tiie new process Jjrv cieaning la. less complicated than the wet process, ho said, and is free from the disadvantages of the oid means. Originally the state securities' commission commis-sion objected to the inventor of the process, proc-ess, H. Y. McBride. receiving the largest share of the 60 per cent of the capitalisation. capitali-sation. A counter-proposal was made, but did not meet with the favor of th"e eoinpany. Tha principal objection of the commission was removed when it was announced that Mr. McBride had returned re-turned a large amount of his holdings to the company, with the result that he now holds but 30 per cent of the company stock. In view of this fret, and information informa-tion that the company had succeeded in securing a guarantee of its financing and was building plants at Casper, Wvo., and Philadelphia-, Pa.. It was decided to grant permission to float stock in Utah of an amount sufficient to build a plant here