The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1894-11-28
A Rainbow Dispelled.


During the recent canvass, ending in
the election of November 6, visions of
reviviug business and Astounding pros.
perity, streaming from tina "fonnt of
every blessing" the democratic tariff,
rose Oh tie iapL guze Of democracy, p ,r.
ticularly its mug vump annex. These
visions appeared in the glowing head
lines of their newspapers, telling how
ca wave Of prosperity" tidal in its
dimensions, was sweeping over the
land, bearing on its swelling bosom a
new industrial life, fat With profits and
pl mp with good WAGES to longing la
borers. The Boston Herald was one
OF the most ardent of these rainbow.
chasers. Pdrti.colored lights, flashed
from every section OF the land, IRA
dated its columns. COncurrently with
the publication of a somewhat lustrous
story of activity in the iron regions Of
Michigan, of the overtaxed capa ,ty of
the railroads of the region to transport
Bessemer ore in particular, we received
letter from that region which con-
tanned statements as to the iron bust.
ness which seemed TO show that the
Herald was either misinformed or its
glowing dispatch was part of a system
of Misrepresentation devised to help
the de nocracy in the then pending cleo
ton. The copy of the Herald was sent
to person in the iron region, in con-
tact with the iron business for years,
and familiar with the facts o its past
and present condition. In answer to
the Herald he writes:
Referring again to the statements gave
you short time since Of the condition the
iron ore mining industry of the re yon is in,
L append further data in comparison aud
confirmation Of my former statements,
which clearly refute the Heralds state
ments.
Going back to '92, the banner year of
shipments of iron ore from the Michigan
and Wisconsin ranges alone (but 4 ,245 tons
from the Masabi Mimi, range were, in
|
increased equipment and other facilities for
much heavier shipments now, the estimated
shipments for '94 are 100000 tons from the
three states of Michigan, Wisconsin and
Minnesota, which comprise the great
Northwestern iron ore region. OF this
100000 tons, 100000 tons are from the
Messabi and Vermillion ranges of Mime
sofa, leaving 100000 as the shipments
fro n the Marquette, Menomnee and
Gogebic ranges of Michigan and Wisconsin.
A slight mental calculation will show the
absurdity of the Herdld's statement that
extra trai as are required to be run TO
move the output There are two roads
leading from this district to lake ports-one
at Marquette, Lake Superior, the other at
Escanaba land, to digress 1 would here
note that the tonnage Of iron ore from the
latter port in 1872 exceeded that of any
other port on this globe). One of these
roads could have shipped twice as much as
they have had it been off sred
While the amount of ora that has gone
forward is considered as pretty large, in
view Of the great depression, competent
judges estimate that not to exceed two
thirds of it is sold. In support of this esti-
mate one of the largest companies here has
shipped $4,000 tons and but very little is
sold, the incentive to docking it in the
lower lake ports being cheap labor and that
the shippers own their own boats, which
they must keep in service. Again, not all
the output is of Bessemer grade, probably
| by twenty-five per cent.
"Bessemer ore has been sold as low as
1920 per ton this season, considerably
lower than the figures ($275) gave you be-
fore; and | am informed now that the
condition of the business and prospect Of
any profit are more discouraging than in the
past. 1t may brighten up a little now that
the elections have ballasted financial and
and industrial conditions, such as they are,
so that they will not be drifting about for a
long time on the shifting sands Of democ-
racy OF non Bsssemer ores there are mil
lions Of tons lying in store over all the
ranges that could be bought for less than it
cost, and begging for a market.
While it is unpleasant to draw these
doleful pictures, they are facts nevertheless,
although many may MOI credit them. AS a
striking example of the great shrinkage in
ore properties, L give one more instance.
The great Chaplin mine on the Menom nee
range, still having numerous resources of
ore, and from which the royalties on ore
mined out have made its owners very
wealthy, was the lease] sold few years
ago for S2,00O000. The depression in bust
ness has carried it down so low as to bank
rupt the purchasers, and it was sold a few
days ago under the hammer for SS7 900.
The surface improvements had cost once
$1,0O00O0. No roseate picture can be
drawn of the iron industry