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Show UIAH IRON TO BE DEVELOPED Men of Large Means Are Now Conferring in Sail Lake Salt Lake. Nov. 11. Representing j half a billion dollars' cnpiral. eighteen I capitalists from different parts of the United States and Canr.da will today at tho Hotel Utah to perfect plans for the development of the vast Iron and coal deposits of Utah and the establishment of a mammoth steel I plant in Suu Diego The capitalists at their meeting to day will ronccrn themselves chiefly with the financing of the plant tit San Diego. The purchase and development devel-opment of the iron and coal properties proper-ties In Utah will be discussed later. A gigantic corporation may he formed form-ed which will not only operate the Steel plant, but also control rh production pro-duction of the iron ore In Utah and the mining of the coal for uao at this plant The iron and coal properties to be pnrchnsed by the company will bo selected by Julian Kennedy of PlttabUrg, who Is considered one of the greatest mining engineers in the i world Mr Kennedy Is said to have ! reports bearing on all of the Iron and coal properties In the state of Utah I and on the?e reports his selections of tho properties! to be developed will be made. Report Prepared. Of special interest In this connec tlon is tho report of Rolla E. Clapp, a consulting engineer, who has spent the last Seven years in an Investigation Investiga-tion of these properties and a survey of the Colorado river watershed Mr. Clapp's report, which was made pub llo VetflP(lnv Ic in crhanclii'a truil isp of the resources and possibilities of the entire Colorado river basin Mr Clapp says that this report was made for a corporation to be financed by English. Scotch and American capital. capi-tal. This corporation, according to Mr. Clapp. will have for lis object the development of the Iron and coal resources re-sources of this basin, and the center of this development will be southern I'tah. A railroad tapping (his vasl region and extending to San Diego, , with a large steel plant at San Diego, are among the aims of the corporation. corpora-tion. Mr Clapp declares that his corporation cor-poration has no connection whatever with the plan lor the development of Miese resources, which Is being formulated form-ulated by General Otis and his associates. asso-ciates. The fact that his report is made public at the same time that the capitalists from all over the country are meeting at the Hotel Utah to discuss a similar development, develop-ment, he sajs, is merely coincidental coinciden-tal The capitalists at the Hotel Utah are reticent about discussing their plans, admitting only that they in- 1 volve the construction of a large ! steel plant and the development of I Utah coal and iron deposits They say that the details of their plans b ive not yet been worked out, but will probably be discussed at today's meeting. Among those who will altend to- 7 day's meeting are General Harrison Grey Otis, Los Angeles multl-mll-liouair.- and owner of the Los Angeles An-geles Times and heavll Interested In oil and mining properties; C, W French, chairman of the board of directors of the Pacific Steel com-; com-; pany and formerly associatefl with ; the P.. tlil. Iii'iii Sir. I compato . Ja'iies , N Gillette of San Francisco, former ; governor of California; W S. Dehuel of San Diego A. R at son of Ta- I c oma, s J Faulkner pi Victoria, B. C. ; Charles R. Peterson of Tacomu, ' Robert E. Green of Victoria. J. O. ; Storey of San Francisco. O. W. Ash-by Ash-by of New York. J. Prank Watson I of New York. .1 F ClarK of Los An- I geles and P. M Johnson of San Diego. I C. W. French Is the practical man I of the proposed new steel compau He has been for many years connected con-nected with tho iron and steel industry, in-dustry, and to him falls the V.xsk of working out the details of the organization or-ganization of the new corporation. oo |
