The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1894-04-27
PAW PAW. MICH, APRIL 81. 1894


jealousy. Between corporations and
their workmen, as between individuals,
bad blood is engendered through misin-
formation and the meddlesomeness of
others.
The northern peninsula Of this state
is in happy contrast with the mining
districts elsewhere in the matter OF
strikes. The business in that region is
mainly in the hands of corporations,
and the population is made up chiefly
of their employees. Notwithstanding
Upper Michigan has some of the largest
mines in the United States, and some
of these mining companies employ in
times of activity one thousand TO two
thousand men, and upwards, there has
seldom been any serious controversies
between the men and their employers,
and never any general strike in which
bitter feeling seemed to be engendered.
Strikes, such as have occurred in the
mining districts of this state, have
usually been very speedily and amicably
time like the present, when so many
men are out of employment and when
the wages of those who do work are con-
siderably reduced from former prices,
there is tendency to berate the COM
panies and to assume that the men are
not having justice done them. Ger
tainly the men who have nothing but
their labor to sell are the ones who, in
the nature of things, must be the chief
sufferers when periods of depression
ensue. But it does not follow that they
are unjustly treated. When the cost of
commodities must be reduced to meet
the question of profit and loss, then all
the elements that enter into the problem
of the production must be adjusted to
the necessity of the case, and labor,
which is the chief of these elements,
must take its chances with all other
items.
The change in the iron region of Mich
igan in the short space of one year is
astonishing. Democratic orators in
congress, and the Democratic press,
not infrequently speak of the slight
reduction of ore" being made an excuse
To unjustly reduce the wages of the men
for the double purpose of securing
greater profit and stirring up opposition
TO tariff REFORM" as now exemplified
in the notorious measure which Mr..
Cleveland and his followers urge con-
gress to adopt.
The conditions which are forced upon
the Michigan iron mines at the present
time are very serious indeed. The best
grades of Bessemer ore are now worth
in Cleveland and lower lake markets
1915 per ton. This is falling off of
just 50 per ton on the selling price of
1892, and it means good deal to the
ore producer. Non Bessemer ores are
worth even less, and the bulk of the
mines produce chilly non Bessemer ore.
The freight charges, from Ishpeniing
for instance, TO Cleveland are now 81 80
per ton; the taxes amount to at least 10
cents per ton; the most of the companies
pay royalty on the ore from % cents per
ton upward, and it is more than doubt
full if there is mine in Marquette
county in which the ore is produced at
cost of Sl.10 per ton. Add up these
items, and if the company pays royalty
it is out of pocket.
y. The mines at Ishpeming, in fact many
of the mining companies in Marquette
county, own their mines in fee simple,
and thus are relieved from paying
royalty. Such companies, if they can
sell their ore at all, may be able to pro-
duce it so that the cost shall not exceed
the selling price. Only one mine at
Ishpeming gave any profit last year, and
that was the Pittsburg q Lake Angeline,
and that was due to the phenomenal
richness of its ore. 1t commands a
larger price than other ores, and thus a
small margin was made on the years
operations.
Iron mining stocks have for many
years been a favorite investment. The
shares of the old iron mining companies,
like the Cleveland, Lake Superior, Re-
public, ETC., have always sold well and
beer in demand; but within year aud
a half they have dropped in market
value beyond any experience ever be-
fore known, simply, not from any
failure of ore, or other cause than the
depreciation in the market value of the
product. To illustrate: Up to Nov.
1892 the Lake Superior iron mining
Compan's shares were quoted at $50
per share; now they are quoted at 500.
The number of shares is $4,000. The
shares of many other companies will
show equal or greater loss, for the
reason that the Lake Superior Com.
pany's property is one of the largest
and best. The Cleveland, Republic and
Volunteer companies shares could not
be sold at any price. No one would
buy them now And vet, before the