Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1896-06-19
IRON In MINNESOTA.
Additional Riches Being Devesa
oped Every Day
arsusenss 6Santities OF orc Contained In
tho Vatioas MINES More Than
Enough TO Supply the
whole WSrld.
rio development of Minnesota,s iro

tho Nurirus ntn'cS moro IMAM
Enough TO supply the
whole wSrid:
Tic Development of Minnesota's iron
Ranges gre not by any means com-
4sl&ed: they arc continuing daily. and
wealth shat was not dreamed of yeur
or less ago is NOW laid bare for the ham,
jner of the assayer and the ton meas
arement OF the buyer and the miner.
as an Instance of this is the develop
incnt made during the past few months
IN the northern part of township 5T-l7,
and the southeast quarter of town
1917. Discoveriesare made and still cons
tinuing in the northern tier of sections
of town 57-17, especially In section S,
where nine acre tracts have been
shown to be well-nigh covered with ore.
End where there has been proved mil
lions or tons. This ore body. with that
of the Adams, Vega and FayaI mines,
with which II is believed to be connect
ed, is one of the largest on the range,
and six months ago lis existence, ex-
cept so far Us the miles named were
concerned. was scarcely con jectured.
Among the holders of Mesaba ore the
Lake Superior Consolidated Iron mines
IS far ahead in quantity OF orc held.
much of it, being. however, under min
eral lease to other operators. and more
of it being held by the Consolidated
under lease from the original holders.
Owing TO some circumstances connect
- with the formation of the company
by Mr.. Rockefeller's associates it's hold
fbgs were obtained at small expense,
and owing 20 the same circumstances
it is difficult TO separate the cost OF
the mines from that of the road, which
fell into Mr.. Rockefeller's hands at the
same time. IA is safe to assume that
S1,5oo.o00 paid for oil the so-called Mer-
S1tt properties that went into the Con-
solidated company, together with all
costs connected with their admission
into the company including some
subsequent settlements. These prop
critics, some of which are lease and
some fee. are believed by the most con-
servatiTe &c contain 100000 tons of
ore of various grades. In addition 20
these the company has the Adams
mine, the Lake Superior, the Lone
Gnlthe Mckinley and the Rouche-
, ucH enu under option, Thsss will
5eau-ltay 49, 1919. n~<-'"aS'
have cost. when the option is taken up.
about 81. 500 900, and contain not less
thnn 95. GOO. 900 tons of ore. The Lake
Superior leases are figured rs covering
ut least $4,000. 900 tons, and the Adams
lease is put at a very conservative fig
tlre. far below what the owners arc
willing to concede. There is here al,
iron holding of not far from l6O.o00,0OO
tons, all obtained at a round cost of
S4.OOO,COO.
The Minnesota Iron company has
about 100000 tons i'm sight at the
Mesaba mines, and for them il has paid
almost 81 100000. Some OF the largest
are leases. In addition to their own
mines, the company has tonnage con-
tract with the Vega, which is regarded
as. one OF the most important mines /
Of the range, with, perhaps, 10000. 900 !
.pps, in sight.
- toucheleau-Ray company still
It far from 10000, 900 tons. OF
Pout two-thirds is fee. The
Exploration is estimated ut
I'm 10000 tons. The
Sations, the Security Land
Atly under option to
Iron company; the
the Ohio and some
es, contain at least So
!. here remain the vas;
Hngs$ Wright and Davis syn
/Sfeate on the western part of the range
on which are several mines and an
enormous amount of partially explored
lands. 4 report made on these hold
ings for the Minnesota Iron company
year ago, and on which the latter
company based an offer for the entire
tract, showed them TO contain ore esti-
mated at about 6O.oOOOO0 tons.
The Minnesota Iron company paid