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Show Gigantic Industry Will Boom State J. L. Ewing, of Richfield, passed through town yesterday afternoon on his way to Manti where he addressed members of the commercial club last evening on the Utah Steel Corporation. Corpora-tion. Ewing tells a wonderfully fa-cinating fa-cinating story of this, the biggest commercial enterprise that has ever been brought to the west, showing what it means to Utah and Utahns, when the iron ores of Iron county are converted into pig iron and rolled steel commodities at the rate of three hundred tons annually and great numbers of branch foundries and mills from the big eastern concerns will be forced to locate near the big Midvale plant to take advantage of the saving of a $15 a ton freight differential dif-ferential between the eastern markets mar-kets and Salt Lake City. The Utah Steel Corporation is today to-day a going concern. It began business busi-ness in 1915, with a capital investment invest-ment of $175,000 an increase of 1000 per cent in six years. This gradual and healthy expansion has been financed by the business itself, which, in addition, has paid the guaranteed dividends to the holders of its preferred stock. A market having a population of 20,000,000 people awaits the products pro-ducts of the enlarged plant which is now being financed. This market absolutely ab-solutely belongs to the Utah Steel Corporation through its advantageous geographical location and the extraordinary extra-ordinary freight rate advantages that assure freedom from competition and make certain large profits. Production and plant development is in the hands of a commanding figure fig-ure in the steel world. Have you ever had the opportunity to look over the gigantic plant of the Inland Steel Company at Indiana Harbor, Indiana? In-diana? If you have, you have seen one of the world's greatest industrial achievements. In a few years this great plant grew to its commanding size from an insignificant establishment establish-ment under the direction of the same genius who is today the guiding eve-cutive eve-cutive of our Midvale mills Mr. James V. Peterka. In April, 1921, the directors of the Utah Steel Corporation decided that the time was fast approaching when the expansion of its plant would be necessary to embrace the development develop-ment and opening of the huge iron ore deposits of the state through the installation of additional mills and blast furnaces for the manufacture of pig iron and steel products. The board of directors appreciated the responsibility connected with such a venture. Mr. C. W. Whitley, one of the best executives in the United Unit-ed States, vice-president and general manager of the American Smelting & Refining Company, a. director 111 j the Electric Bond & Share Company and president of the Utah Steel Cor- j poration, insisted that the time had arrived when we must secure the services ser-vices of the best steel mill executive in the country to guide us aud guard us with his experience. As a result. General Manager M. S. Rosenblatt of the Utah Steel Corporation went East to obtain the services of such a man Mr. Peterka was induced to come out to Utah aud investigate the opportunity op-portunity and today he is one of the most pronounced enthusiasts for Utah as a steel center. He has seen for himself the immense deposits o' iron ore, coking caol and limestone and he knows that where these ma-1 terials are In close proximity and where the markets exist, he can do the rest. He asserts that the Utah j Steel Corporation can earn as mam ! millions In the next ten years as the Inland Steel Company did in the past ; ten years, during which time he was j its guiding spirit. In 190S he made an investment in the Inland Steel Company Ot $2,500. Today it is worth $30,000. |