The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-09-06
Big iron TRUST FORMED
0ossemer Ore A4-.ereetS on Mes
aba and Gcgebic Ranges
.s. Consolidate.
4 Company Organized With q
Capital of $9O,oOO0oO, All
Paid In.
Nine-tenths of the Ore of the
Country Controlled by the
Combine.


DULUTH, Sept q. Reorganization was
perfected here during the day Of the
Lake Superior Consolidated Iron Min
ing company, controlling the Mesaba
and Goeebic mines, and the Spanish
American mines In Cuba. Colonel
John D. Rockefeller, Colonel Gates and
others are in it. The capital is $50, 00O,-
600 and the head Office will be in New
York. The company will control fully
nine enths of the productive mining
capacity for Bessemer ores of the
United States and the other tenth is
harder and more expensive to mine. 1t
will include large mining facilities and
ore shipping railways from some Of the
mines to this city and from others to
Ashland, Wis. It will also control
A Great Fleet of Vessels
on the lakes, with an aggregate carry
ing capacity of 10000 tons, and an ore
receiving port and railway from Lake
Erie to the furnaces of Pennsylvania.
Members of the syndicate forming this
hugo deal are interested in iron and
steel manufacture, both East and West,
and in the new company will be large
interests in the Spanish-American iron
mines of Cuba. which are now compel
ing with American mines and laying
down ore on the seaboard at price to
meet the Lake Superior mines, even
though the latter are protected by
Is cent duty.
The new company has been in process
of formation for several months. A
heavy New York syndicate was in
duced to advance money to complete
the railway from Duluth to the Mesaba
mines and to operate the mines them
selves, John D. Rockefeller advancing
&750, 900 on the bonds of the railway.
Since then the syndicate has been buy
ing mines, and this idea of
A Giant Combination
has evolved. The consolidation is not
only like the Standard Oil company in
it's control of the business in which it
takes an interest, but like it in the fact
that the men who engineered the first
have made themselves the financial
backbone of the other. The New York
members consist of John D. Rockefel-
Ter and some of his intimates, G. w.
Wetmore and c. L Colby. directors in
the Northern Pacific road; Colgate
Hoyt, president of the American Steel
Barge company; ex-Secretary w. c.
Whitney, E. B. Bartlett, director of
the Steel Barge company, and several
others, and the Duluth end consists of
the five Merritt brothers and their as
sociates. The company is to be managed
by five trustees, Leonidas Merritt, Al
fred Merritt and one other of Duluth,
representing one interest, and G.. w.
Wetnlore and F. T. Gates, the latter
private secretary to j. D. Rockefeller,
representing the other. Head Offices of
the company will be in New York, with
branches at Cleveland and Duluth,
while all the individual companies en-
tering the deal will keep
1ncIC separate Existence
and headquarters in this city. The
company is capitalized at $50, 700, 900,
all paid in, and the Minnesota Iron
company, which has been q giant
among the iron mining corporations.
will be a pigmy IN comparison. The
trust is organized by taking majority
interest in the stock of from II to IA
Mesaba range mines, on valuation of
over $4,000, 900; the Duluth, Mesaba
and Northern railroad and its ore docks
in this city, the largest ore docks in tho
world, at 81, OO0, 900, and the Rockefeller
interests in the Gogebic string of mines
in Michigan and Wisconsin and the
Same interest in the Spanish American
group of mines on the east coast of
Cuba. The company will also control
the American Steel Barge company's
feet of rs
Whaleback Steamers
and barges for the ore trade, and ore re-
ceiving docks at Conneaut, O., and rail-
road facilities for getting ore from
these to Eastern furnaces. The COM
pany has made an agreement to main
tain a standard Of prices. These prices
will be such as will preclude the posi-
bility of competition by the deep hard
ore mines of the older ranges
Among the mines to be included in
the deal are the following:
Mountain Iron. to 20 in on a basis of
$4,000, 900; Biwabik, 81, $50, 900; Mesaba
Mountain, 81. 75O 600 adams, 81, 900, 900;
Mckinley, $1,000, 900; Lake Superior.
$75O,OO0; Shaw, Great Northern and
Great Western, $4,000. 900 each; Lone
Jack, s., 900, 0O0, and several others at
about $1,50O,0OO. The company will
mine but little ore this year, but is pre-
pared to apportion at least 500, 600 tons
among the properties it will operate.
Boiler Exploded.
HUNTINGTON, w. ", Sept. 6.-The
boiler connected with Brunifield's qrist
mill at Harris Creek exploded. John
Il. Boyd was instantly killed and the