The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1895-11-15
NEWS FROM THE iron MINES,
TNTlsREST4NG NOTES RELATJvE no
Our PRINCIPAL INDUSTRY.
Mes0Oa n7tt2 Othea' Iron RttnOes.

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Figures of the Duluth & Iron
Range road, the stock of which
is owned by the Minnesota Iron
company, show that for ten
months of 1895 the road will
have earned above all charges
and expenses more than $1,000,
600. This is equal to a shade
oyer 6 per cent. on the entire
capital stock of the Minnesota
Iron company. In addition to
this the company has the enor-
nous profits of it's eight steel
steamers, which carry on the
lakes, and these profits have
never been larger than this year,
and all the profit on the ore sold
this year That dividends will
be resumed early next year on
Minnesota Iron stock is an ab-
solute certainty. The company
expects to make heavier sales of
ore next spring and at q higher
price than ever in its history.
The Ore Shippers association,
heretofore confined to the old
ranges, has invited the mining
companies in the Mesaba range
to join. The plan proposed is
to allow the Mesaba ore q diff
ferential Ct from 20 to 25 cents
PEI ton in selling price. The
mine owners in the old ranges
have quite general interests al
SO in tho newer ones.
The entrances to both cuts at
the Mountain Iron are being
deepened and other preparations
! for the better handling of ole
for next season will lie made
during the winter,
Drill explorations on the
MiLnewas continue. This pro-
perty is on state lands, and
with but a 25 cent royalty it is
probable the mine will b. worked
| next season.
lti is understood that the Au
burn closes all shipm> nts this
week and that they contemplate
closing the mine for the winter,
or practically doing so, deeming
it more expedient to mine the
ore direct than to stoc!spile.z'The
Winston Bros. stripping, how
ever, will continue so long as the
weather will permit, witty q good
force.
The Vega will work a big
force of men all vinter AMI stock
at least 75,0C0 tons Of ore. About
$4,000 tons were shipped this
season. A new Office will soon
be built and the present quarters
will be occupied as an assayist's
Office. : :: A great many new
developments will take place
around the mine during the win
| ter.-Star.
It is stated that ore of good
quality has been found on "a, 81.
II. an option being held by J. T.
Hale, of Duluth,
1t is reported that a portion OF
the crew at the Mountain Iron
has been laid off.
The shaft house at the Victoria
is being raised, the large dry
house is nearly complete, their
hosting plant and other machin'
cry in place and considerable ore
is being raised. The Victoria
will have its hoisting shaft ir
running order IN ten days more
and will get out a good stockpile
during the winter months.
| James Sheridan, of I Iuluth
has secured an option fro m the
Security Land & Iron company
on lands in 8, 57-17, and has {
crew exploring on same.
The Alpena, which contains ar
immense body of high grade ore
is one of the Virginia group O:
Idle properties, with no railroad
connection. With the advance
in ore prices, however, this prop
erty may be developed next sea
son.
A small strike, quickly set
tied, was on at the machine shop
of the Minnesota Iron compan.
at Soudan on Monday. Its shor
duration and amicable adjust
ment, however, did not della,
matters at the mine.
The drill at the Commodore i
doing much more usatisfactor
work than was accomplishe,
while the work of sinking an
drifting was in progress, and
big body of ore is now bein;
proven.
No news of the elimination G