The Challis messenger. (Challis, Idaho) 1912-current, 1922-09-13
Pig IRON PLANT
FOR UTAH FIELDS
PACIFIC STEEL CORPORATION
Is CAPITALIZED At $2o,0oo,oo0
WILL USE STATE PRODUCTS
Complete Transaction Of Steel From
Iron Ore to Fabricated Product
To Be Object Of New Gi-
aantic Institution

San Francisco. Construction at
once of a $7,50O,OO0 pig iron plant in
Utah will be the first step to follow
formation of the Pacific Steel corpora
ton, capitalized at $2O,000,00O, whose
Incorporation papers are on file in
Delaware. The new concern financed
by San Francisco, Los Angeles, Seattle
and Salt Lake City banking institu'
tions, will be a combination and en-
largements of present steel manufac-
turing plants on the Pacific coast.
Complete transition Of steel from
iron ore to the fabricated product is
one of the objects of the new corpor-
alton which already has acquired
large iron ore and coal deposits in
Utah, 1t was announced here by T. L.
G. Gregory, the company's attorney.
The newly formed concern will take
over the properties of the Pacific
Coast Steel company, which has plants
in Seattle, Portland and San Fran
cisco, the Los Angeles plant Of the
Southern California Iron and Steel
company, and those Of other west
coast steel companies, together with
the iron ore and coal deposits of the
Miner corporation in Utah.
AT the present time there Is no
pig iron manufactured west of the
Rocky mountains" said Mr.. Gregory,
land plants here are dependent upon
the east for their supply Of both pig
iron and coke. The new corporation
will undertake the complete manufac-
ture of steel from raw material pro-
ducts on the Pacific coast.
'The combination of steel cOmpan-
les will also provide for the acquiring
of immensely valuable iron ore and
coal deposits in Utah which will be
utilized as source of supply for
raw materials.
"The object Of the new corporation
will be, first to establish and build up
a big iron industry and source Of
supply in Utah, and with this accom-
plished to increase and expand the
present steel manufacturing industry
on the Pacific coast.
"Only active steel manufacturers
are in the new concern, and it will be
an Independent corporation, strongly
and adequately financed in every re.
spect."
In addition to the companies al
ready participating in the new COM
bination, Mr.. Gregory also said that it
was probable that the Judson Manu-.
featuring company of Oakland, the
second largest steel plant on the Pa
cific coast, also would be one of the
concerns to join in the great steel en-
terprise.
The announcement of the $4,000
900 Pacific Steel corporation is the
second big steel manufacturing VEN
ture to be launched here within the
last six weeks.
On July l the formation Of the Co.
lumbia Steel company, with a capital
ization Of $15,000,000 and which at
fected a consolidation of several Cali
fornia steel manufacturing plants,
was announced here. like the newly
organized Pacific Steel corporation,
the Columbia company also has ac-
quired valuable iron and coal lands
in Utah and plans to produce it's own
pig iron and coke there for use in
coast plants.
Wiggington E. Greed, head of the
Pacific Gas & Electric company, is
president of the recently organized
Columbia company.
The $2O.O0OO00 capitalization is in
preferred stock. In addition there are
900 shares Of common stock Of no
par value.