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Newspaper
Seattle Star
Location
Seattle, Washington, United States of America
Date
Aug 12, 1903
Page
5
The Seattle project aims to build a Pacific Coast iron and steel industry using local ore and coke. It plans to expand the Irondale blast furnace, open hearth plant, rolling mills, and secure nearby mines and coal to supply a West Coast production chain.
Andrew Carnegie in Edinburgh on October 22 1902 argued that the location of manufacturing will increasingly depend on where raw materials are found under favorable conditions. He claimed capital and skilled labor no longer attract raw materials, as materials now attract labor and capital.
Fragmentary OCR lists several executives and firms in McKeesport and Pittsburgh, naming GC Smith as treasurer of McKeesport Tin Plate Works, RK J Stony Jr as Manker and Broker, William Price as superintendent at Irondale Fur Hao, and M J Carrigan as treasurer. mentions Western Tree & Steel Works in the broader roster of business leaders.
The Seattle Iron and Steel company aims to establish a major plant at West Seattle to make Seattle a leading iron and steel center. The venture envisions pig iron, sterling ingots, beams, rails, bar steel, plates and more for markets across Washington, Oregon, California, Idaho, Montana, Nevada, Alaska, Hawaii and the Pacific and Oriental trades.
The document touts a Meld with a growing home market and advantages for iron ore, limestone, coal, and coke at lower costs. It notes ready demand for 700 600 tons of pig iron, growing Pacific and border markets, favorable climate, rail connections, and a unique competitive edge over rivals due to combined resources and cheap water transport.
The Seattle Iron and Steel Company seeks Pacific Coast investors to fund its Irondale furnace and open hearth mills. It plans First Mortgage 20-Year Gold Bonds at 6 percent, selling at 95 with stock as a bonus. Bonds accompany $100 of stock per $100 bond, with projected daily incomes and rising dividends, all aimed at keeping profits on the West Coast.
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