The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-01-18
MiNNEsoTA's WEALTH IN IRON
One County Has Enough to supply the
World for Generation.

World for Generation.
From the Minnea polls Journal.
Some interesting facts are ready 10
hand as to the relative holdings OF the
prominent owners of Minnesota mine
interests and of the cost to these hold
ers of their ownerships OF any cal
culation that may be made, the Mesa
ba range naturally figures most prom
inently, not only because OF its greater
deposits of ore, but from the fact that
Il is owned by many and because the
deals that have corraled IL have neces-
sarily been made with more or less
publicity, something that the single
big concern operating on the Vermil-
ion has been able to avoid TO a consid-
cradle extent.
The developments of Minnesota's
iron ranges are not by any means
completed; they are continuing daily,
and wealth that was not dreamed or a.
year or less ago is now laid bare for
the hammer of the assayer and the
ton measurement of the buyer and the
miner. AS an instance of this Is the
development made during the past
few months in the northern part OF
township 57-17, and the southeast
quarter of town 5S-17. Discoveries
made and still continuing I'm the north
ern tier of sections of town 57-1I, es-
pecially in section 5, where nine 40
acre tracts have been shown to be well
nigh covered with ore. and where there
has been proved millions OF tons This
ore body, with that of the Adams, We
ga and Fayal mines, with which II Is
believed to be connected, is one of the
largest on the range, and six months
AFRO its existence, except 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 this company
by Mr.. Rockefeller's associates Its
holdings were obtained at small eX-
pense and owing to the same circum-
stances II 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. 1t is safe to
assume that 81 100000 paid for all the
so-called Merritt properties that went
into the Consolidated company, togeth-
er with all costs connected with their
admission into the company, including
some subsequent settlements. These
properties, some of which are lease
and some fee, are believed by the most
conservative to contain 70,000,000 tons
of ore of various grades. In addition
to these the company has the Adams
mine the Lake Superior, the Lone
Jack and the Mckinley and the ROUGH
eleau-R Ray so under option. These viii
have cost, when the option is taken up,
amout $500. 900, and contain not less
than $4,000 900 tons of ore. The Lake
Superior leases are figured as covering
at least 50,000.000 tons, and the Adams
lease is put at very conservative fig
ure, far below what the owners are
willing to concede There is here an
iron holding of not far from leo, 900, 900
tons, all obtained at a round cost OF
| 81. 000, 900.
The Minnesota Iron company has
about 10000 900 tons in sight at its
Mesaba mines, and for them IL has
| paid almost 100000. Some of the
/ largest are leases. In addition to their
own mines, the company has a tom
/ mage contract with the Vega, which is
| regarded as one of the important mines
/ of the range, with, perhaps, 1O.0OOO0O
/ tons in sight.
/ The Roucheleau-Ray company still
holds not far from 30,00O.OOO tons. of
/ which about two-thirds Is fee. The
| Sauntry exploration is estimated at
not far from Is, O00, 900 tons. The Fowl
er explorations, the Security Land
| holdings. mostly under option to the
/
group, the Ohio and some smaller
properties. contain at least 10000. 900
tons. There remain the vast holdings
} of the Wright and Davis syndicates On
/ the western part Of the range on which
/ are several mines OF an enormous
amount OF partially explored lands. A
report made on these holdings for the
Minnesota Iron company a year ago.
and on which the latter company based
an offer for the entire tract, showed
them TO contain ore estimated at about
co. 600. 600 tons.
The Minnesota Iron company raid
about 100000 for the Chariemagne
/ Tower interests on the NermiliOn
range. including the Duluth and Iron
! Range road. Nobody outside the Off
GERS of the company. and probably rot
/ they themselves. know the ore holdings
in the undeveloped land they own,
though the mines at present worked
have been pretty well punctured by
the diamond drill. and for 1000 FEE;
down are as well understood as II they
were Sliced bare. Vast as these hold
! ings are. they sink into insignifcance
50 far as totals go. compared to the
incomprehensible quantities on the sis
ter range. Two other companies are
mining on the Ve-milion, but such Is
the present activity on this range that
IL would not be surprising IL there were
half a dozen new concerns at work
there shortly. and twice that number
of mines scattered from Tower toward
the International boundary.