| Show J ill Spend to Develop Utah I IJ Steel Deposits of Iron anc and Coal Will be Used in the ther of Pig Iron r I Organization of the Pacific Steel I corporation by coast interests in co- co with the Milner estate of I Salt Salt Lake brings lo to toge e her Iler in one ast ast enterprise 75 per pcr cent of or the Steel keel eel manufacturing capacity of the Pacific Pacific slope and the largest private- private privately j ly y owned iron and coal properties En on n the continent And the object o ol of his iS undertaking is we tae furtherance of t the most economic move made made for the west since the rails i were ere linked at Promontory Point in 69 to o form COlm the first transcontinental tal al railroad the railroad the establishment of a steel industry for the west Under the plans which call for forthe tile the he expenditure of in Utah tah provision will be made for a production reduction of pig iron at the rate of 4 to tons annually using us us- ing ng the rich iron ore from the MIlner Miler Mil- Mil ner Iter er holdings In Iron county and th the i coking oking coal from Crom Carbon and Emery coun counties ies with Utah limestone and other raw materials required for tor forlis torI I this lis basis of all modern industrial ire ife fe steel All Interested in Utah With their organization already including the major producers of the western western Slope with their plans foi fOl financIng completed the Pacific Steep Steel corporation will be in a position to immediately start construction work upon upon pon the completion of the necessary engIneering preparation F The new economic era has dawned in the west with the formation of this Pacific Steel corporation cor- cor oration and the organization n last summer ummer of ot the Columbia Steel corporation cor- cor oration with a contemplated capital of of Virtually Virtually all all all' of the important steel teel manufacturers west of the are now interested and concerned concerned con- con in the development of a Utah steel eel industry Utah's res resources are certain ertain to enter into their fitting sphere phere of economic service to the west est Officials of the new corp corporation ration were ere loath to discuss details of the theu u undertaking for there are many steps to be taken in the formation of an n organization of ot this size and andle whIle le many of those have been completed com- com there remain still various problems to be worked out before beCorE the lie entire scope of the general plan can an be formulated to a degree permitting per per- public announcement They were not loath however tc declare that with economic conditions condi condl- Ions in the west arrives arrived a at the point as s they have which will justify the huge uge expenditures involved in z lJ large arge and fundamental undertaking the he organization is able and ready to carry arry out the project to a successful culminatIon They expect to be able to o provide from the Utah iron every form onn of both raw Iron and fabricated ed d steel materials required in the I modern processes of ot manufacture manufacture and industry The westward shift shUt of people In Inthis inthis this country has brought west of the a population requiring such sucha a variety of services as to call caU for tor the I establishment near at hand of a I source of iron and steel Economic I conditions incident to the growth in I population and resulting from the I Iwar war and postwar readjustments have emphasized not only the desirability I but the necessity for a a decentralization tion of industry which inevitably has forced the establishment of branch I factories and of or new factories These are consumers of ot steel This move toward decentralization now underway under underway way and certain to become more pronounced pronounced pronounced pro pro- In the next few years is Important Important important Im Im- in its bearing on the vital question of transportation Western carriers especially now i beginning to lose long-haul long tonnage as a result of this decentralization and having already lost much busness business bus busi ness to the vessels sels singe since the war are being compelled to give more attention t to the development of tonnage along their own lino line I IThe I The importance to the railroad fI 1 of the steel business can be judged when It is shown that to produce aton a aton ton tOll of pig Iron It is necessary to have approximately four tons of raw ma mil- While thre has be been been ri no announce mont concerning the location of the Continued i to to Page ft Four our STEEl INDUSTRY IN UTAH WILL ILL CALL CALI FOR OR OR TIlE THE EXPENDITURE OF OJo Continued from Crom Page One projected furnaces and coke rit r rIt r rIt It Is believed that the shores u of Utah lake will furnish rt a i site Transportation living n cm condi conditions l. l fons and accessibility to th lepas- lepas Its of ot coal Iron limestone and other make Utah lake an fl point for tor such an enterprise as wItness witness witness wit wIt- ness the attention given to this locality lo locality locality lo- lo by the Columbia Steel corpora corpora- tion Only in Utah can there be found the quantities of coal and iron ore In such juxtaposition as to justify the expectation that blast furnaces in inthis inthis inthis this state will Nill be able to fo produce iron on a basis of oC manufacturing costs comparing most favorably with those in eastern castern centers Adequately l Financed While the erection of the facilities in Utah is under way It Is expected I that such alterations alterations' and additions as are necessary will be made on the San Francisco Seattle and Portland units of ot the company so as asto asto asto to facilitate the use of pig Iron and the manufacture of a line lino of various iron and steel ties The Pacific Steel Stoel corporation Is planning not only for tomorrow but for Cor ten years hence Extensive Industrial industrial industrial indus Indus- trial surveys of the many phases of ot the steel busl business less have teen neen made and the reports have been favorable to this undertaking Details of the financing plans have not been made public beyond the fact act the me company company company com com- pany is incorporated for of preferred stock and shares of no par common stock That the company is amply financed to begin begin begin be be- gin Its active operations as soon as possible is indicated Steel men bankers transportation experts and others nave been In scores of recent conferences on matters matters matters mat mat- of detail A. A C. C Milner l of Salt Lake president of the Milner corporation corporation corporation corpor corpor- and director of or various Utah enterprises has represented the holders of bf the iron and coal oaI properties proper properties proper proper- ties in the negotiations |
