Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1882-07-12
BEssEMEs STEEL WORKS.

There is some talk Of establishing cast-oteel
works in Sacramento. The California Iron
and Steel Company. owners Of the Clipper
Gap iron minea, in Placer county, and certain
capitalists Of California, wish to establish
such works in this city fer the purpose OF max
ing all descriptions Of steel castings, and steel
ingots for making steel rails for railway
track. The following circular has been issued
by j. l.. Watson il this city: The immense
demand for steel castings all over the world
since the discovery Of the Bessemer process
has caused the erection of cast. steel works In
many Of the manufacturing cities Of the East
aud Europe, everyone Of which have more
orders than they can fill, and are, in conse-
quencs, all financially successful. The erec'
ton Of cast-steel works in Sacramento, it can
be demonstrated, would be the most success
full and assured enterprise ever inaugurated
here. The demand for steel iDgots to supply
the railway system of California alone would
keep such works constantly busy, leaving out
the demand for castings required 80 much on
this coast for mining, agricultural imple
ments, railway building, ana general manu-
featuring purposes. The fact that steel cast
itg5, less than half the weight of iron cast
ings, are more durable and stronger, insures
their use in numberless places where iron
now, in Il { absence of steel. is necessarily
used. The erection of steal works in Sscra.
mento would undoubtedly be followed, and
immediately by the building Of steel rail
mill by the Central Pacific Railroad Com
pany. the same having been conditionally
promised The undersigned. from sstis-
factory evidence furnished, is convinced that
steel iDgots being produced here would enable
h. 20 ha IF
rail mill in 8 very short time after its con-
struction and operation. Another result that
may safely be predicted would be the erection
Of various manufacturing establishments In
our midst, thereby increasing our population,
the value Of real estate, aud IN the same ratio
reducing taxation and increasing our ability
to maintain our city in its integrity in every
way. 1t would increase the value. also, OF
lands in the vicinity, By atforGing larger mar
ket for country produce. The California
Iron and Steel Company is an inccrforated
company, with a capital stock OF 81 675, 900.
They are owners OF and successfully working
the Clipper Gap iron mines, the product Of
which is sold as fast as produced, the quality
unexceiled and the demand increasing. They
have property purchased and paid for TO the
amount Of S432, 10 40 the number Of shares
are 20, $50, Of these 10, $50 have been sold,
leaving 0,7G0 to be sold. The same are
offered at p per cent. Of their par value,
which is 800, and it is believed that no fu
ture assessment will be req lired or necessary
On condition that the people of Sacramento
will subscribe for 5000 of these shares, the
amount to be paid for, which as above, will
be $3.50, 600, the company will guarantee to
erect their steel-castings works in Sacra-
mento. It may be stated that few capital.
lists are ready to take the balance of the
stock viz: ?, 7G0 shares, so soon as the amount
assessed as the portion for the people of Sac
ramento to take is subscribed for"
On or about the 10Th Of July subscription
lists for signatures will te lefs at the bank of
d. .. Mills & Go. and the California State
Bank. Mr.. Watson says he hrmly believes
this to be the opportunity, and by our citi-
zens availing themselves of it, they may look
forward to assured prosperity in the near
future