The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1896-01-17
NEWS FROM THE IRON MINES,
Norris RELaTIvIs 10
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OUR PRINCIPAL IxbssTRY. !

w" xAANCxx-AA xNDC01H1s
xesaba and Other Iron RaMyes.
Any accurate statement abou
iron ole developments for 1856
says the Iron Trade Review,
must be Of a negative character.
Rumors and guesses continue to
circulate through newspaper
columns, but it can be said that
no price has been named by any
ore producer for 1896, and the
prospects is that from 80 to &C
days will elapse before any sale
will os made that will establish
the price for the coming year.
A conference of Mesabi interests
is being held this week and it is
probable some adjustment will
be reached that will keep the
mining companies on the new
range from a general war for
tonnage. 1t would appear, from
expressions that have come up
from that quarter, that the fur
mace interests is not averse to a
provision by which stability will
be given to the ore market SO
that the early buyer will be as
sured that no competitor who
makes his purchases later. in tn
season vii! have the ad vantage
Of a lower price. AS TO the
price basis, many consi; tions
are under DISCUSSION. AS the
market stands today, calcula-
tions of two or three months ago
require revision. If sales OF
Bessemer pig iron at a low price
are made with direct reference
to ore buying, after a we'll worn
method of manipulation, a mod
crate wait wilt prove to the en-.
tire trade hoy: many parts, il
any, of today's situation are art
iticially induced.
The Consolidated Mining Co.,
of Ishpeming, Mich, is a new
corporation which will engage
in the mining of silicious Bessc.
mer ores in Marquette Co.,
Mich, on the Cascade range.
John II. Quinn is president,
Richard Malhollanp, avice-presi
dent and T. J. Dundon, secre'
tary. The capital stock of the
company is $500, 900, in shares OF
$25 each. Tho new company
owns a 20 years lease on the
Mesaba's Friend property, in
which 80 acres are embraced, al
SO a 90 year lease on the Rich.
ard forty adjoining. making in
all 120 acres. The ROYALTY or
ore to be mined and shipped
from these properties is fixed al
ID and Is cents rer ton. The
company also owns the fee o1
100 acres in section 2647-26, or
which ore has been found. The
Mesaba's Friend shipped nearly
g. 900 tons last season, running
from Is to so in metallic iron,
.019 in phosphorus and SO ii
silica. The ore has been usee
with Mesabi and other higl
grade Bessemer ores to supply
their deficiency in silica. With
the increasing consumption o:
Mesabi ores the call for these
high. silica grades promises to bt
more of a feature. The Richa4'e
property is Identical with thu
old Carr and the Mesaba''
Friend with the old Gribber
| mine. It is the expectation tina
the Consolidated Mining Co. will
make an output of good proper:
tions this year.
The Lake Superior & Ishpem
ing Rallwey Co. has elected th'
following officers: President
". G. Mather, Cleveland; vice
president, James Laughlin, Jr.
Pittsburg; treasurer, W. G. Po
Ilock, Cleveland, secretary, J. q
Hoyt. Cleveland; general coun
sci, George Hayden, 1shpemins
chief engineer, S. S. Neff, Ma
quette. The directors are tt
officers excepting the chief e'
eineer) and J. II. WADE,
ECleveland, and B. F. Jones. Jr
|of Pittsburg. About 500 me
:are now at work On the lii
(which will extend from 1shpeE
d ing, Mich. to point above Ma
o quette on Lake Superior. Doc
Twill be built at the mouth
Dead river. The PERSONAL
the directory accords with VIII
: has been published heretofo
{. concerning the connection OF t
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