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Show U. 5. Stee! May Expand Utah Plant ncrease Of Export Trade to Orient Is Believed Responsible For Expected Purchase Of Columbia Steel SAN FRANCISCO, Aug. 3 (UP) An expanding export rade to the Orient may draw the United States Steel Corpor-tian Corpor-tian into the iron and steel industry of California and Utah, (fording to industrial leaders here. Already the United States Steel Corporation has a 90-lay 90-lay option on the $40,000,000 Columbia Steel corporation ind, although there is no confirmation, it is generally believed be-lieved that purchase of the western concern will take place. Many parts of the world which are large users of steel, ir becoming so, are reached through Pacific coast ports, it s pointed out. The tremendous iron resources of Utah, ihere there are virtually solid mountains of iron and coal, tlso may influence the decision of United States Steel. Rumors of the pending purchase of the western corpora-ion corpora-ion have been current for a week. Then it was learned that in option had been obtained. What' the purchase price will be, if the deal goes through, is not known but probably will be in excess of $40,000,000. Hie physical value of Columbia Steel's plant property and Kiuipment alone is $28,002,140.98. Approximately 4,000 men 'are employed by Columbia steel at its Provo, Utah, plant, Pittsburgh and Torrance, California plants and Portland, Oregon foundry. The largest block of the Columbia Steel property is at Pittsburgh, California, where there is a steel plant, foundry ind facilities for rolling rod iron and making sheet tin. Fhe Torrance plant is similar to the one at Pittsburgh except lis on a smaller scale. While the Provo, Utah, plant as yet is smaller than the 'iltsburgh establishment, many business leaders think in lime it will grow into one of the large steel and iron making places in the west. , I The making of steel in Utah, using bulky ores and coal, and shipping the lighter refined product to the coast for exportation to the Orient is logical from the economic viewpoint, view-point, i Opinion generally favors the contemplated purchase, most industrial leaders being of the opinion that merger of I the western corporation with the United States Steel would mean expansion and growth for the far western steel and iron industry. |