The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1888-05-05


Chicago, the following officers were elect
ed William III. Rand. president; Homer \
y. Hubbard, vice-president; T. III. White,
secretary +. Il. Crcpin, treasurer. The
following board Of directors was chosen
w III. Rand, w. II. Murphy, Il. III. White, l
r. T.. Crepin, G. X. Mitchell, III. N. Hib-
bard, ID. X. Hill, III. c. Parmley and A. |,
+: Dexter. This company Is composed
oil some ofChicago's most wealthy gentle /
men and own what IL known as the
Groveland group Of mines in the Fetch
Mountain district. Iron county. The
company's property, as at present con-
stituted, is in fact n consolidation OF
three distinct mining properties, known
West Groveland, held under option from
the Lake Superior Ship Canal, Railway
* Iron Co., and embraces the south hall
of the southwest quarter OF section
thirty-two; the northeast quarter and
the southeast quarter Of the northwest
quarter and the northeast quarter OF
the southwest quarter OF section thirty
one. all i'm township forty-two north OF
range twenty-nine west, thus making
total length OF territory of one mile and
quarter running east and west with the
trend of the vein OF ore, and from
quarter to one-half "a mile in width A
vast amount of work has been done on
the property within the past year all of
which has a marked tendency to prove
up one Of the largest and best producing
veins of ore in the county In the course
OF sinking, drifting and prosecuting be-
tween four and five thousand tons Of
merchantable ore has been broken and
raised to the stock pile where IL awaits
the advent OF shipping facilities which are
not yet, though the prospects OF getting
a spur from either the Chicago * North
Western or the Milwaukee x Northern,
both being near at hand, are all that can
be asked. The property gives evidence
oil being lasting one, rs n great quantity
al the best OF Bessemer ore is in sight and
plenty Of il known to exist but not as
yet to be seen. The property is well
equipped with mining plant costing no
less than ten thousand dollars. Supt.
Richard Lowry is in charge OF the proper
ty and in it's working he is showing "a
master hand.
The present quietude and inactivity
may be lkened 20 the calm that precedes
"A storm and, unless all the signs fail, the
next week or ten days will record "a break
In the market, but a deluge ofsales, most
OF which are believed tu have been already
conditionally made and which will go into
effect. Ore producers who obtained So
hast season for ore delivered at lower
lake ports, claim tn he able To get $3.50
this year, but no such money will paid
by furnacemen. IL is evident that, to
make any considerable ore sales, the iron
makers must be offered such inducements
rs shall warrant them TO purchase for
future delivery. Otherwise, they will be
compelled To buy from day To day, as
their requirements demand, SO that they
may blow out whenever the quotations
make work Improbable. IL may be set
down as an assured fact that last years
So ore will be cheapened at least one dollar
and probably x1.25. Ii may be OF some
interest, i'm this connection, To note the
probability OF some large sales OF Co
gebic ore To furnaces now supplied with
foreign ores and that the Lehigh Valley
Ry. is building two immense ore docks,
one at Erie and the other at Buffalo.
Despite the sporadic attempts al the ves-
sclmen TO scare the shippers into paying
prices smacking OF 1887, anybody can
Superior for 81 20 or 81 30. On the
other hand il cannot be denied that with
the Frightening Of the prospects for the
ore trade, there has come a stiffening into
the vessel market, which isa good sign for
every body concerned. Old ore now on
dock still sells Mt the following quota
tions:
No. specuar and magnetic Besse-
mer ores per tom. ...............s7 oO@7 90
No. / Specnlar mon Bessemer) ores
per o0@6 go
Bessemer Hematites .................... q 1905 90
Non Bessemer Hematltes..............5 00@5 75
Cleveland Iron Trade Review.
The work Mt the north shalt ut the
Hollister property ON section thirteen,
43-32, has reached depth of seventy
five feet. The pumps have been removed
from the surface to point seventy feet
down the shaft preparatory to continu-
ing the sinking To- depth OF one hundred
feet, which, when attained IA cross-cut will
be carried either way across the vein to
the walls and ~ drift probably to a dis
lance OF not less than one hundred feet
will be driven parallel with the formation
ON the west or or hanging wall side. This
work il being prosecuted night and day
with force of ten men and n stock pile
OF between three and four hundred tons
OF high grade ore has accumulated during
the sinking Of the shaft No new work
has been definitely planned as yet, but it
il quite probable that when the proposed
work at the old north shaft IL completed,
that the pump, boiler nd hosting appar-
atus will be moved To the forty immedi-
ately to the south, and repetition made
OF the work now i'm progress. On the
south forty n shaft has been lowered fifty
four feet, fourteen OF which is in the ore,
but had TO he temporarily abandoned on
account Of an abundance of water. The
property ms whole IN looking remark
ably well and promises To amply fulfill
any and all predictions made by those
interested and the many admirers Of the
new range and it's valuable iron producing
properties.
The pumps in the .Iunietta mine are