Show Corporation Profit Essential to New Enterprise and to Utah Development It was revealed the other day that the thc new electrolytic cooper refinery being being being be be- ing built bunt near Garfield by the thc Copper corporation would cost would furnish approximately SOD new jobs in Utah and mean an added pay roll of a year Of itself this refinery is a mighty important addition to Utah's economy But the new pay roll roIl is only a part of the story The refined copper products of this new plant will make malce possible the fabrication of various products It is therefore a great step forward in the industrial development dc of our state Utah welcomes this new plant It is the kind of new enterprise which Utah must have if it is to realize its ambitions for the future We Ve hope to have a lotmore lot lotmore lotmore more such establishments establishments and and right here it is well that we pause and consider the fact that such establishments will win require a great deal of capital invest invest- ment The Thc new refine refinery is costing 16 New manufacturing plants to use the refined copper and the steel from Geneva too will cost many more millions Where There do all these millions come from Who Vho is going to invest this money The refinery is being built by Kenne Kenne- cott corporation The Thc money probably comes from profits the company has made in the thc past That's the way way- most new capital expenditure is financed today If not that it comes from the sale of stock bonds or bank loans But Butin Butin Butin in every case corporation profits are essential to the investment A company company company com com- pany cant can't finance new enterprises on its own unless it first has profits on its existing enterprise It cannot sell stock or bonds or get a bank loan unless it has a profitable operation to begin with or reasonable expectation of a future profitable operation Corporation profit therefore is absolutely absolutely ab ab- ab- ab essential to Utah's industrial development Such profit will make more jobs more business more prosperity prosperity prosperity pros pros- for everyone in this state Lets Let's remember that if someone starts spouting off about the evil of profit profit about about profits being a kind of bloodsucking operation on the life of the community That's all bunk Profit is basic to the American capitalistic tem It is the thc sparkplug of our economy the the thing that makes our economic machine tick And dont don't let anyone try to sell you the thc stupid socialistic communistic-socialistic doctrine doctrine doctrine doc doc- trine that elimination of profit will wiB assure assure assure as as- sure an economic paradise It merely will assure a halfway stage of economic purgatory purgatory purgatory-if if it doesn't drive us into economic hell itself |