The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1888-05-12
MINING BRIEFS.
Market Reports - Ore Selling Very
Slowly and after a from hand to
Mouth Manner-A String OF Odds
and Ends from Home Mines.

dltnoukH ShitS nave Deeh mace ana prices
quoted, the sales as compared with the
probable output are as insignificant as
the quotations are unstable. Asamatt tier
Of fact, the ore disposed OF was sold in
special lots and for special purposes, and
the market Is not made AZ yet. The Re
public price OF So may hold, but some
consumers doubt whether characterization
can be maintained. Still, the fact that
the ore is well known and has an old
and established reputation, may keep il
from further depreciation. Noquantities
are given OF So sales, while il is reported
that big chunk OF Vermilion ore has
been dumped at $575. Authentic in
formation on this head is refused by the
parties in the position to know the facts.
Bessemer hematites will bring about
$5.75, and that figure would mean a
larger profit TO the producer than last
years high figure. Non-Bessemer hema-
titles will not be in the market until the
Bessemer is disposed of-which will not
be long hence. At all events, the furnace
interests are actively in the market, but
AS a rule are afraid to buy-at least in
anything near decent quantities. The
large buyers are holding out for lower
quotations, which they hope Co be able
Co secure. The vesselmen have taken no
important steps since the charters report
cd IA week ago and some of them, recog-
nizing theupward tendency OF the market
decline to make low season charters, and
will prefer to take their chances az cargoes,
in the expectation that the market will
favor them. Ii is well known, on the
other hand, that the fleet will make one
trip less this year than last, which means
afalling off in the ore To be carried oifrom
five To eight per cent, or from 100000
TO 100000 ton. Ore dealears are re-
ticent, and buyers are still attempting to
secure ore ut rates To be established, !"
meeting, however, with little or no SUCCESS
In the absence OF reliable prices, based
upon regular bona fide sales, we quoteno
market beyond the figures above men,
toned cleveland Iron Trade Review.
Since the plant ofmachinery was placed
at the Volunteer mine, work has gone
forward very rapidly and satisfactorily.
The vein of ore is located at the edge Of a
swamp and water makes into the works
so rapidly that il was almost impossible
TO achieve anything like satisfactory re-
suits in showing up the ore body
Since the machinery has been placed new
and permanent working shaft has been
commenced about one hundred and sixty
feet north and east of the old pit, which
atpresent hasa depth ofaboutfo forty feet,
and at the time OF the writer's visit was
just coming upon clean ore, but will be
lowered TO an even hundred feet from
which the ore will be hoisted. In the old
pit a cross-cut was made of the vein
which shows il 90 be forty-six feet wide
at least at that point, although the wallis
have not yet been clearly defined The
old shaft will eventually be connected
with the new 10y drift, which will drain
the water aud the machinery is in such II
position that both shafts can bee wrought
at the same time. The property gives
evidence OF being n large and valuable
one. Capt Thos. Bosanko, an able
miner, is in charge.
The owners of the fee Of the Selden
mine, on the northeast quarter OF the
southeast quarter Of section thirty-fve,
1885 just east OF the railroad track at
Stambnugh, Iron River district, have
begun legal proceedings for the ,jectment
OF the parties who have been developing
the property, The ground Of the suit is
the non-payment OF royalty The
essees ARE the ST. Clair brothers, Of lsh-
peming A. Policeman and Capt. III.
Buddle, OF Florence.
Nothing 10 certainty is yet known MS
regards when operations will be resumed
az the Youngstown mine, but there seems
hardly n doubt but that the property
will be actively wrought during the sea-
son. The mine is i'm good condition and
can be arranged for work ON short notice
About 10000 tons 81 ore mined last
year still remain ON the stock pile.
A recent analysis Of average samples
ofbre from the HOLSTER mine gave the
following result: Metallic iron, 65.45;
phosphorus. 02l. Agreatmany analysis
have been taken Of this ore and all have
given Bessemer results, but IL seems TO
be even getting better as depth is at
tanned.
II was nlmored that the stock pile at
a.. Al.I.l.... a Gh..ln. mimi a hnnf aLix