The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-11-09
NEW COMPANY
TO MAKE CEMENT
Will Have Capital of 100000, With
$250,000 in Bonds.
DEMAND EXCEEDS SUPPLY
MANUFACTURE CANNOT KEEP
PACE WITH NEEDS.
DEMAND EXCEEDS SUPPLY

Articles of incorporation are now
being drawn, and within the next few
days the Rocky Mountain Portland
Cement company, AT the head of which
is State Senator Simon BambeTger.
Abram Hanauer and James A Cum
bingham, VIII be formally launched
and ready TO &c. upon its legal eX-
istence. From "a commercial and bust
ness point OF view the enterprise that
the new company is preparing 20 en-
gage IN is one OF the most substantial
and important that has been undertaken
In this state during the season. Not
only that, but it promises 10 be
profitable for its hackers. The cap
ital to carry out the enterprise Will be
provided it is expected. by home talent
entirely, but should any OF the bonds
be not taken here they will be quickly
taken by men In Denver and eastern
cities where application for them has
already been made. The company will
be capitalized at 100000, fully paid,
and bonds TO the amount of $3.50, 900.
bearing { per cent interest. viii be sold
at par. and a bonus Of an equal amount
OF bonds purchased will be given.
Works to Cost $25o,ooo.
Works costing approximately $25O,OOO
and capable of making from 500 TO 1000
barrels Of cement per day are TO be
constructed here, and work upon them
will begin just as soon as plans can be
prepared and material ordered. Ii is
the expectation that 100 men will be-
employed in construction and tnat a
large portion of that number viii be
retained after the plant goes into com
mission. w. W. Kneath will be in
rFs.u
operate the plant when IL is finished.
Mr.. Kneath has built a number of ce-
ment works in different parts of the
country. and he expects to make these
the most perfect and up-to-date of all.
He comes here highly recommended by
one of the most successful cement
manufacturers i'm this country.
In the prospectus that is being pre-
pared the promoters of the new enter
prise show that their business can
not fail 70 prosper and they clinch
their argument with figures that. while
anything but perpleXing, show where
the profits are coming from.
There is only one cement works in
the whole state of Utah claiming Il
capacity of 500 barrels per day, and il
cannot supply the demand. Freight
rates from the extreme east are too
high for manufacturers there To COM
pete west OF the Mississippi. This mar
ket Is therefore an excellent one, Virtu-
ally free from competition. Besides
salt Lake City, there are all the towns
and mining camps Throughout the state,
with an ever-mcreasing demand for
cement. Then Los Angeles with a mar
ket even greater than that of Utah and
with no cement works nearer than salt
Lake City. Further, there being no
factory in either Nevada. Idaho Mon
tana or Oregon, the product would also
find a ready market in these states.
salt Lake city used $4,000 bags of
cement during the season of 1904, for
sidewalk construction alone, and in the
Vity for various othef. purposes approx
imately a like quantity was used. All
that was manufactured in the state
found a ready market, besides thou
sands of barrels which were shipped in
from Colorado. Kansas. Missouri and
other points in the near east.
Will Buy Quarry.
The company proposes to purchase
from the Utah Lime & Cement COM
pany for SEQ ~ "a property situated
and known as the Pascoe quarry, north
of Warm springs, within the city lin
its, having excellent railroad, water and
other facilities, necessary FOR an ecouo-
mica1 arrangement of Il cement works.
The property comprises i'm all about
ninety acres, forty acres or SO being
loWland and foothills suitable for
\ works, site, and for other and all kinds
Noi buildings. The remainder IL quarry
land, containing millions of tons of fine
quality material for manufacturing u
tirst-class Portland cement, as exam
ined and tested by cement experts. An
important feature i'm connection with
this property is that it is reached by
all railroads and the contours of the
nLane make N nmsslMLn IL handle mnI.-