Daily independent. [volume] (Elko, Nev.) 188?-1915, 1896-09-11
lr..tn s,.:, este.

| Eah6GO sc NV ny oAy AACsAAAo SOAAA0
pleted; they are continuing daily, and
wealth that was not dreamed Of year
or less ago is now laid bare for the ham.
mer of the assayer2 and the ton meas
urement Of the buyer and the miner.
Az an instance of this is the develop
ment made during the past few months
in the northern part Of township SILT,
and the southeast quarter of town
1917. Discoverieserem made and still con-
tinuiDg in the northern tier of sections
of town SILT. especially in section s,
where nine acre tracts have been
shown to be well-nigh covered with ore.
and where there has been proved mil
lions Of tons. This, ore body, with that
Of the Adams, Vega and Fayal mines,
with which it is believed to be connect
ed, is one of the largest on the range,
and six months ego it's existence, ex-
cept SO far as the mines named were
concerned, was scarcely conjectured.
Among the holders of Mesaba ore the
Lake Superior Consolidated Iron mines
is far ahead in quantity of ore 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
ed with the formation of the company
by Mr.. Rockefeller's associates its hold
ings were obtained at small expense,
and owing to 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. It is safe to assume that
81, 500, 900 paid for all the so-called MGR
ritt properties that went into the Con-
| solidated company, together with all
costs connected with their admission
| into the company, including sonr'
| subsequent settlements. These prop
| critics, some of which are lease AMI
some fee, are believed by the most cor
servative to contain 70,o00.OGO tons OF
ore of various grades. In addition t.
these the company has the Adam;
mine, the Lake Superior, the Lone
Jack and the Mckinley and the Rouche-
| leau-Ray 80 under option. These win
| have cost, when the option is taken up.
| about 2,500, 600, and contain not les%
| tLgn 05,000,O00 tons of ore. The Lake
Superior leases are figured as covering
at least 100000 tons, and the Adams
Il
| ure, far below what the owners are
willing to concede. There is here AT
| iron holding Of not far from 16O, 900 ,O0O
tons, all obtained at round cost OF
I $4,000, 900. ..".
The, Minnesota Iron company has
| about 100000 tons in sight at the
! Mesaba mines, and for them it has paid
almost $1,00O,O00. Some OF the largest
| are leases. In addition to their OWL
| 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, 0oG
tons in sight.
The Roucheleau-Ray company stil1
holds not far from 30.000,O 900 tons, OF
which about two-thirds is fee. The
Sauntry exploration is estimated al
not far from 100000 tons. The
Fowler explorations, the Security Land
holdings, mostly under option tc
the Minnesota IRON company; thu
Franklin group, this Ohio and some
smaller properties, contain at least 30,
100000 tons. There remain the vas;
holdings Of the Wright and Davis syn
dictate on the western part of the rang
on which are several mines and az
enormous amount OF partially explorct
lands. A report made on these hold
ings for the Minnesote Iron c6mpan \
q year ago, and on which tho latter
company based an offer for the entirt
tract, showed them TO contain ore esti
mated at about 100000 tons.
The Minnesota Iron company paid
about $4,000, 900 for tho Charlemagne
Tower interests on the vermiiiof
range, including the Duluth and Iror
Range. Nobody outside the Of
fcers OF the company, and probably
not they themselves, know the ore hold
ings in the undeveloped lands they
own, though the mines at present
worked have been pretty. well pune
tured by the diamond drill, and fol-
1000 feet down are as well understoot
as II they were sliced bare. Vast a,
these holdings are, they sink into in
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