Daily globe., 1882-11-14
M1NNEsorA IRON coMpANr.

A New Era in the Development of Minnc-
sota--An Immense Corporation.
In our columns to day will be found the
articles of incorporation of the 'Minne
sofa Iron Company" an organization
which gives promise of our state entering
upon new era in her history, viz: the pro-
duction of iron ore, and unless the
gentlemen who comprise the company
are greatly mistaken, Mime
sofa has within her limits
an iron ore field, as rich in promise of
yield and quality as is the cre-producing
region tributary to Marquette, Mich. This
conclusion is the result of over three years
of labor and the expenditure of over four
hundred thousand dollars in the enterprise.
Quality and quantity have been the i'm
portant points to settle, and they are both
settled in the affirmative.
The Hon. Edward Breitung of Mich, a
man as well posted as any mar in Mich,
and now very largely interested in mining
in that state, has visited the region and is
fully satisfied. Mr.. Geo. c. Stone, of this
city, the general manager of the company.
has had charge of all the work which has
been done and has interested the capital
lists who have embarked in this enterprise
The main Office of the company is located
in St. Paul, and the selection of this point
for the general Office is most wise and
judicious one.
The company is formed with an i'm
mense capital, as its work will be great
Not less than five mines Will be opened al
once, and the company expect to mine
and ship the first year not less than $50,
900 tons OF ore.
railroad from the mines at Vermillior
to Duluth, one hundred miles long, Will be
req uired. It will connect with the St
Paul q Duluth road and make direct raj
route to this city. This company propose
to build, equip and operate this road and
for that purpose have now in their hands
the old charter of the Duluth & Iro1
Range R. R. They will seek, this winter
an extension of time under which they car
earn the old swamp land grant made tina
| road in 1875. There should certainly b.
| no objection to this, but the reverse, as n,
one hundred miles of railroad was eve
built in the state Of more general interes
| to the whole state at large. 1t mean
cheap coal and iron.
! This is, i'll no sense, scheme for tn
subscription OF stock. The stock is in tn
hands of men able 20 consummate tn
aims OF the company without putting tn
stock upon the market, and that is the in
tention.
There is no reason why the developmen
of this ore should not open new era 1
iron manufacture in this State. There j
no reason why st. Paul and Minneapoli
should not have their iron and steel mill
as we'll as have them located at the hea
of the lake. This is the most natural di:
tributing point for the manufactured iro
and the cars which go east laden wit
wheat and flour can return the coke fc
fuel at rate which will make rollins
mills and kindred iron industries, prof
able in St. Pa-l.
The public will watch with much inte,
est the development of this gigantic Ell
terprise. It has already enlisted ten mil
ions of capital and from three to four mil
ions will be expended within a very shol
time. thousand men will be employed thi
winter opening the mines and securing tn
ore for market. The GLOBE welcomes tn
minnesota Iron Company" as o2enin
a new era for this city and state, the ult
mate advantages of which the most sa1
guine can now scarcely fortell. It mean
among other things, one of the agencie
which will rapidly make st. Paul city {
half million inhabitants, and center {
commerce and manufacture combined, III
surpassed on the continent.