The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-01-25
OUT FOR NEW BUYER.
Iron Deal Appears to Have Failed
Utah Field Attracts Attention.

Utah Field Attracts Attention.
As the $4,000 payment on the iron
deal was not fortncoming from the
Kimberley Bull syndicate yesterday,
and no word having been sent as to
the reason. of the delay, the owners
| of the deposits, through their author
/ lied agent. considered the incident
closed and at $3.50 the latter took an
eastbound train to meet another COM
binatiOn that has been after the lay
out for a long time and which was
given the first call in case the first
named combination failed to make
good. 1t is hardly thought that the
Kimberley crowd intended to give 10
and it may be they viii yet get to
the front before it is too late, but the
/ owners have apparently instructed Mr..
Jones to 90 ahead and open negoti-
atoms with the new crowd in order
that no time may be lost in case def
mite word comes from Kimberley that
he and his associates desire to be
counted out.
Before leaving the city Mr.. Jones
said he understood that the steel trust
had blocked Mr.. Kimberleys plans by
taking into the fold two of the wealth.
est operators in the United States
men who had practically pledged them
selves to see the mammoth undertake
/ ing through, in common with Messrs.
Kimberley and Bull.
That the Utah iron fields and the
enterprise which the big promoters
named seemed to have had well shaped
up have been attracting attention in
the east, the following dispatch from
Pittsburg, and printed in the New York
Herald of Sunday last, attests:
Peter L. Kimberley, who has been
prominent in iron and steel develop
ments in years past, and Frank H.
Buhl Of Sharon, the former president
of the Sharon Steel company, are ar
ranging a gigantic iron and steel de-
velopment in Utah. They own ire
mendous body Of ore in Iron county.
Utah. and plan the erection of blast
furnaces and iron and steel finishing
mills which will make them the most
| aggressive competitors Of the United
/ states Steel corporation and indie
/ pendents in the west. Something like
[ 100000 Will be invested in blast fur
mace and mill construction.
AN ample supply of fuel and lime
stone is within ready reach of the ore
/ deposits. Those in interest figure that
! with all raw materials at the base of
! operations they can put down their
products in Chicago on equal terms
/ with the steel corporation, while In
/ the west and south, and the markets
! across the Pacific ocean, they will
/ have distinct advantage. John T.
+ Jones OF Iron Mountain Mich. who
/ was instrumental in Messrs. Kimber-
ley and Bull making their western in
! vestment, says of the Utah develop
{ ment:
81 Within a few years Utah should be
! producing more iron than any other
state in the Union. The deposits in
/ the southwest part of the state are
/ the greatest that ! have ever SEEM and
! 1 have examined all the principal iron
] ore deposits in the United States. Gu
] IN md NsarraryrTaT1 I'll,
/ unity of the iron to an ample supply
/ of fuel and lime fiux makes it pos
! sible to produce iron in Utah cheaper
( than anywhere else in the United
/ states. Iron works can be erected in
! this state which will produce iron sc
cheaply that, with fair railroad rates
the finished product can be laid dowr
! in Chicago on at least equal terms
with the product of the United States
I Steel corporation or any other pro
{ Queer. Utah iron and steel works
could readily control absolutely the
trade Of the western part of North
and South America and the Orient.
1t will take a little time to get the
Utah iron and steel works into shape
1 for steady production. but when they
are completed they must become ar
I important factor in the industry OF
the United States
| The question of ore supply is en-.
gaging many of the independent iron
and steel interests at the present time
The steel corporation will this wear de-
liver no ore to outside consumers eX-
/ cept what is necessary on long tern
contracts.
The open price will be advanced by
1 the time navigation opens. All riva
interests have been specializing as Il
where the Lackawanna Iron & Stee
company is TO get its ore supply foi
its S10,G0O,0 900 mills at Buffalo. Il is
( stated on excellent authority that the
company is intrenched in its supply
through recent purchases Of a half
dozen or more properties in the Lake
Superior region by Pickands, MatheI
& Co, of Cleveland.
| THE steel corporation, under the
| terms of a contract made by the
Rockefeller interests for ten years. and
| which still has a life of seven years
has to supply annually SOC, 600 tons OF
! Mesaba ore from the Adams mine Il
| the Jones & LaughIin Steel company
and few Of the merchant furnace in
terests Of the Mahoning and ShenangC
! valleys. Under this contract the ore
is brought down to the lower lake dock.
at 1925 ton.
The steel corporation has much les.
sened the chances of record production
at its mines. The requirements fol
each furnace now rule the mining. one
| furnace manager specifics a certain
grade, and the mine getting the order
may have to remove and pile much {,
get at what is required and the ma.
terial piled has to be banded agar
by the steam shovel This adds to tht
cost and materially curtails tn,
amount"