Show UTAH m STEEL PROJECT MEETS FAVOR salt lake city oct 8 general manager H S abse n batt iatt of 0 the uta utah it steel corporation gave out a statement here today in which he said that the plan announced by the company for the developer nent of 0 iron mines and the manufacture of 0 iron and steel products had met instant favor the officers of the company say that the project promises to be a complete success judged by the res ponce on the part of the public already receil ed at the companas comp anys offices during the first week following the announcement of 0 the companas comp anys plans said mr th thousands of in quirles from all over the state stata and adjoining 1 states were received in res rea pance to the invitation contained in the companas comp anys advertisements tor for the public generally isene ene rally to obtain lull full inform aaion from the compa comp companas nys anys general offices i cices in this city wo we are gratified in fit this he ha said I 1 because it indicates to tc i us its that there Is every reason to hope that we w will succeed in financing this big undertaking right in our own state this moans means keeping utah money at home ifor tor the up building of the state our 1 moa carefully made estimates show that wit with our enlarged blast furnaces I 1 and rolling mills we can earn 1000 a year the market is ready to I 1 absorb all the iron and steel we can make on this basis we have no hesitancy ifancy whatever ln in assuring shareholders not only a substantial and satisfactory return on their money invested in our preferred stock bu but also that the no par value common stock will quickly attain an enviable place among the dividend barnin securities there never was a large steel ente r t prise organized before in the states in which the public generally ra av ti privileged td enter I 1 on compian cogg ari terms with every other stockholder this was a privilege always reserved reser veil in the past lor for a select few the present lent owners of oe the utah steel corporation I 1 are utah men their chief in are ara in utah hey desire above all things that this enterprise shall is for this reason that a popular offer of stock is being made we hope to enjoy the full 0 of knowing that the people of the whole state regard this enterprise as their own it means a great deal for the state it if the enas went to the east that utah had financed its own steel industry it would be the most wholesome ty the astl state ate could possibly receive in addition to the returns investors in this project will receive as the individual profits on their investment mr s statement pointed out that the success of the enterprise means the creation of new cities around the iron mines and the mills the enlargement of other cities increased tonnages ton nages on the utah railroads largely increased demand for f farm arm produce in the way of foodstuffs greater call cah for or houdini materials clothing manufactured articles of all kinds and a large general increase in the volume of businessman busi business in the state ho he pointed out that the tax returns to tho the state counties and cities would naturally relieve taxpayers ot of the state of a portion of their tax burdens and in every way the success of the steel industry as the creator of new wealth for the state would bring about the return to normal in every line ot of business the great number nt of men who will be absorbed by by the mining and milling operations will solve the unemployment problem of the state he asserted and thus terminate what has threatened to be both an economic and social menace since the war mr said that in addition to the great number ot of inquiries which had been received many orders for stock had been received the reception accorded the big venture at the very outset has hag greatly encouraged the company officials |