The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-06-21
WHY IRON DEALS FAILED.
Some News That Will Be of Interest
to Utah Operators.


A Denver publication attempts to make
Il appear that the reason why the Colo
rauO Fuel q Iron company did not eXer-
else its option upon the Taylor and other
iron claims in this state the other day,
was because the grade OF iron did not
come up to its requirements Whether
the Colorado Fuel & Iron company would
acknowledge II or not, there is not an
iron expert worthy the name in this cOun-
try who does not know that the Iron
county iron IS about the best in the
world. But the c. F. & l. company knows
ii as well as anybody. It already owns
a great many claims down there and
there is not shadow of doubt that il
would like to own them all
Last Monday was the day on which
$1,000 should have been paid. On that
same day the Colorado Fuel & Iron com
pduy was compelled. according TO reliable
Information on the subject, to repudiate
a little obligation calling for $500 00e in
New York. and i'm consequence its stock
was hammered all to pieces in the eastern
markets. 1t is reasonable to suppose.
therefore. that for some reason IL could
not raise the money Tor either obligation
on that uay-dnd that was the reason
that the iron aid not come up to re-
quirements.'
This is taken in connection with other
abandoned enterprises in Iron county 20
mean says the same article, that the
ore there IS not of the quality which VIII
permit Of its use in steel works. The
klmDeTley-Bu syndicate had an option
on some properties there and had organ
lied company TO build a SlOe00,OO0 steel
works in opposition TO the Colorado Fuel
q Iron company. It was found that cox
Ing coal limestone and water could not
be obtained in the vicinity in quantities
needed and the project was abandoned
and the money put up on the option was
forfeited"
This statement is Just as far from the
truth as the other 1t is no secret that
the kimberley-Buhl syndicate's expert,
John T. Jones pronounced the Cedar
City iron the best in the world. and he
openly declared that he was simply
amazed at the quantity he found to exist
there. It IS also well known that the
failure of the syndicate to exercise its
option was not due to any lack Of COking
coal limestone and water, but to the fact
that the steel trust headed off the enter
prise by handsomely taking care" of
some of the biggest operators associated
with Messrs. Kimberley and Bull and
those intimately connected with the en-
BY reading a little between the lines Of
the following paragraph. which closed the
St viii be easy TO see that the steel trust
probably cut some figure in having all
these deals turned down.
John w Gates and the steel trust have
men in both states trying to find ore
beds sufficient 20 warrant the construc-
ton of a steel works. but 1t has been
found that the Colorado Fuel * Iron
company controls the situation as far as
known ore beds are concerned. It now
seems that the only opening left for the
steel trust is In the Uintah range. which
viii be thrown open for settlement on
OCT T. iyf4- Inelr experts nave GlIedoE
obtained permission to go in there and
make preliminary examinations under the
protection of Indian police. but they can
not obtain any of the lands until the res
RrvatiOu is opened for settlement At
that time the Frontier Coal & Steel
company ana the Colorado Fuel & Iron
company will both be on the grounds to
contest tho attempt of the steel trust TO
get a fOothOld
Another feature of the above para
graph is that relating TO the permission
which the steel trust officials have Sc
cured from the government to investigate
the iron deposits in the Uintah reserva-
ti0n under Indian police protection n
order that its representatives may be
able to step i'm and secure everything Of
value when the reservation IS thrown
open a little more than one year hence
Valuable iron deposits are known to exist
on the reservation at the head of the
Provo river, and distant from Park City
IN an easteTly direction only about TWEEN
t=-five miles. Many years ago iron was
hauled from these properties TO a smelter
then being operated at Park City
From all that HIS been done and said il
is not hard to draw the conclusion that
lots of folks are bent on having iron out
IN this country, and the Iron county own
ers VIII lose no sleep over the fight being
va ped