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Show I Mi'iRONiiiliS: I I IfiY ISUTO be I ! DEVELOPED H ' Tho Utah Stucl Corporation, which HH; alrvajy has In opomtkin at Mldvato, ht Vtnh a $2,000,000 slcol mills inar- Hj iili.t, Us pioducls throughout tho HI. iu1 i, tiiinoitiiced from Its general of- HI lictb In tho Boston building, Suit BH Ltikv Ctiy, last Huturda. Its plan HJU tor i.w uiiwiupmunt of Ulnh'H vast H; bo" .vo mluob In Southern Utah and R he Installation of jddltlonnl ejulp- H' went at Us Midvalo plant which will B': Jncuiwi Hm output to G.000 tons pur vi TIiih corporation began business at A Midvalo In 1915 with Utah capital H ud free tod and equipped a plant H', costing $175,000( In tho six years Hj f Us business Hfu tho plant has H crown, to a $2,000,000 stool mill Hh nd In now marketing Us products H. Uuoughuljt thO West from tho Mls- B urt Hlvcr to the I'aclplc Coast. Ac- H lording to statements of Its officials, m Uio mpaclty of tho present plant B lallb fiir hhor' of meeting tho do- K iiands nf tho mark.it and tho con- j lemplatwl enlargement Is bolng un- HHJj w.ertaken not ns n speculative von- H ture, but to take ndvnntago of op- m P it utiles the normal western mar- B let affords. H Under ccrtificatlcn by tho Statu H Securities Commission tho Utau H Steel Corporation has boon pornilt- HHJ ted tc'dlsposo of 10,000 sharos of HHJ Us 8 porcont cumulative prefcrrod HHJ stock, each rbare to carry as a bon- HHj ha one sharo of cotnmonntock of no HI Hi ar value. Tho aim of tho corpora- HHJ tion will bo to obtain this Invcst- ' went of $1,000,000 In Utah, so that HHJ' tho earnings of .tho company as dls- HHJ tributctl as dividends may stay In HHJ ' the state and continue to develop HHJ tho resources of tho state. Already 1 farMtment has beon volunteered by ll Ustera capital, ono offer bolng for Jj 609,000 woith of tho company's Ufck. This offer Is from the McKeoj Cp ot Younjtston, Ohio, inamifact - urvrrt ojt steel mill equipment. Ac- oritn to Vice l'resld'ont N. Hosen- HBH Malt of tho Utah 8toel Corporation, tafcc elfor was tnado uftor tho enm- HBH any had investigated the plans of , HBH Utah company and Its market Hj ppertunitlcs. Julius Kahn, resident HBH f the Truscou Stool Company, tho HBH Rudest manufacturers or ateol build- HHHJ Soff products In America, said In a HHHJ fetter to Mr. Kosonbtatt that ho con- H sldera tho prospect of tho Utah Steel HHHJ Corporation tho best orf any stool H company in the United States. In a HHH statement given out at tho goncral HHHJ aftlccs or the Utah Steel Corpora- H lion In Salt Lake City last week Mr HHHJ Xosonblatt said: HHHJ "The futuro of tho iron and steel Hi industry in Utah Is assured. Our, HHHJi present plant has demonstrated tho' HHHr irofllS Uiat nro to b tnndn In thin HHHJj Business, oven when our only raw HHHJj ; ataloriai Is scrap Iron. Wo have in HHH iRJtah tho largest deposit of high HHHJ grade iron oro in tho Unitod Statos. H nly 200 miles distant from our B Mldvale mills. It Is within 21 miles HHHJ r the main lino of tho Salt Lako HHHJ Jtoute and v short rallroJad over a HHHl lu-tvornbro grado is all that la ro- HHHl quired to bring this ore to our plant. 1 Wo buvo already bought millions of HHHJ lens of this high grndo oro at a HHHl highly advantageous price Only 100 HHHJ miles from our Mldvalo plant is ono HHHl r (ho world's largest deposits of HHHl ftfgh grade coking coal, and we havo tuylnt' arrangements for unlimited HHHl omvitltlcfl of coko undor tho most HHHl (: orblo conditions. Llmestono Is HHHl ovrywfiere in tho Salt take yalloy HHHB nn ' wt- havo unllmltad supplies wlth- HHHI fa thirty miles of our plant, somo HHHH f ( much nearer. Thus wo havo all HHHl t' c ntlala for steel mnking at our HHHl ' doors. Our raw rantorials can HHHl T" -gimbtod at our plant moro HHHj ,y than at tho plant of any HHHD ctr.'tr sfeol company in tho country, HHHJj "Contrast this condition with that HHHH Jaced by tho groat Pitttburg stool VKHHJ uIUb. Tho Xamous Klosaba or Lako D lapM-lor iron ores, which are not HHH HVHH t i bo high grado as tho l'tah ore, havo to bo hauled 1200 miles from tho mines to tho mlllst Kvon tho coking coal Is farther from tho mills than our supply nt Suunslde. Much of tho llmestono Is hauled a. great 'distance 'dis-tance "Not only this, but tho freight rates uro In cjUi. favor, It costs an nveragt of 116 per toil more to ship manufactured steel from tho eastern mills Into our market .than , It will cost to ship from our plant. On shoot stool aiid tiaplato alone tho saving in freight amounts to $7,G00,000 a year on tin? normal consumption ot this territory, This saving would bo reflected in tho earnings of the Utah Steel Corporation as an extra profit bocauM tho selling price ot steel products is regulated bj- tho prici Ll I'itUburg and tho delivered deliver-ed price Is Iho Pittsburg price plus the freight "Wo shall begin tho construction of sheet mills Immediately. Blast ruiuac will take longer to install, but will be soon turning, out big ton-ages ton-ages and increasing our profits. Addition's Ad-dition's nnd enlargements planned will raako tho Utah Steel Cofrpora-'tlbu's Cofrpora-'tlbu's Mldvale plant a well balanced unit capable of returning a handsome hand-some .profit to its stockholders. '"Wo loo)c upon this not oiono as. a groat business venture, but too, U moans a groat deal for tho state na a whole. It means an immediate and great growth In population. It means new pnorojls It moons a largo increase in tho demand, for housing materials, for foodstuffs and clothing, for amu'soments and everything ev-erything clso that larger communi ties require. "This undertaking Is not a speculation specu-lation with an uncortain future. It Is tho logical growth of an Industry that from a very small beginning has already grown to be ono of tho largest lar-gest in tho state. Wo loojlc for n hearty rcsponso from the peoplo of Utah and hopo that wo shall real-izo real-izo our ambition to finance this project pro-ject whcflly within tho stato nni thus keep Utah raonoj- at homo. Wo will welcomo investors who aro nblo to subscribe for only ono sharo of stc:k, which will ontitlo thorn to volo at Stockholders meetings ondf participate in tho dividends of tho compauy. Wo havo considered men and womon of limited moans in planning our stock sales and havo' ncccji-dlngly arranged to dlaposo of. shares on a partial payment plan that places tho stock within tho roach of ovoryono "Wo Svho havo glvon tho stool Industry Its start aro all Utah mon ind our intorost aro , in this state. C. W, Whitley, prosldont of tho Utah Stool Corporation, ta also a director In tho Eloctric Bond k Share company and la vlco prosldont of tho Amorlcan Smelting & Kefmlng .... . , , . t f ' 1 Company. Tho othor oftlcors havo largo Utah ho(ldIngs As for myself, I havo boon engaged in tho metal business in Salt Lake City for moro than 35 years. On tho basts or this cxporlonco, I can only predict a wonderful won-derful futuro for this business in Utah." |