The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1921-10-11
UTAH STEEL PRO-
JECT MEETS
INSTANT FAVOR
Plan for DEVELOPING Utah's
Iron DEPOSITS and Manufac-
turing Iron and Steel Pro-
ducts Promises Success.

efal manager M. D. hOSthulhtt Ol Nnt
Utah Steel Corporation gave out
statement here today in which he
said that the plan announced by the
for tho development OF
Utah's iron mines and the manu-
facture of iron and steel products
had met instant favor. The officers
Of the company say that the project
promises to be complete success.
judged by the response on the part
OF the public already received at
the company's office.
During the first week following
the announcement OF the company'c
plans, said Mr.. Rosenblatt, Thousands
OF inquiries from all over the state
and adjoining states were received
in response to the invitation con-
tanned In the company's advertise
ments for the public generally to
obtain full information from the
company's general offices in this
city.
I'VE are gratified in this" he
said, because 1t indicates to us that
there is every reason to hope that
we will succeed in financing this
big undertaking right In our own
state This means keeping Utah mon
ey at home for the upbuilding of
the state. Our most carefully made
estimates. show, that with our en-
larged blast furnaces and rolling
mills we can earn 100000 a year.
The market is ready to absorb all
the iron and steel we can make. on
this basis we have no hesitancy
whatever in assuring shareholders
not only substantial and satisfact-
DRY return on their money invested
in our preferred stock, but also that
the no par value common stock will
quickly attain ain enviable place
among the dividend earning sscuri-
ties. 30.
There never was large steel
enterprise organized before IN the
United States in which the public
generally was privileged to enter oil
common terms with every other
stakeholder. This was privilege al
ways reserved in the past for ST.
lect few. The present owners of the
Utah Steel Corporation are Utah
men. Their chief interests are in
Utah. They desire above all things
that this enterprise shall be owned
in whole by Utah people. 1t is for
this reason that popular offer of
stock is being made. We hope to en-
JOY the full satisfaction Of knowing
that the people of the whole state
regard this enterprise as their own.
II seems a great deal for the state
II the news went TO the East that
Utah had financed its own steel in
dustry. II would be the most whole
some publicity the state could posi-
bly, receive.
In addition to the returns invest
ors in this PROJECT will receive as
the individual profits on their invest
ment, Mr.. Rosenblatt's statement
pointed out that the success of the
enterprise means the creation of new
citiee around the iron mines and the
mills, the enlargement OF other eit-
les. increased tonnages on Utah Rail-
roads largely increased demand for
farm produce In the way OF food
stuffs, greater call for housing ma :.
terials. clothing, manufactured arti-
cles of all kinds and large general
increase in the volume of business
I'm the state, He pointed out that
the tax returns to the state. counties
and cities would naturally relieve
taxpayers OF the state of a portion OF
their tax burdens and In every way
the success Ct the steel industry as
the creator OF new wealth for the
state would bring about the return
to normal in every line of business
The great number of men who will
be absorbed bV the mining and mill
ing operations will solve the unem'
ployment problem of the state. he
asserted, and thus terminate what
has threatened to be both an econo,
mic and social menace since the
war.
Mr.. Rosenblatt said that in add
ton to the great number of inquir
les which had been received, man!
orders for stock had been received
The reception accorded the big ven
ture at the very outset has great!
encouraged the company officials.