The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1897-11-10
ORE TRADE
The Iron Trade Review Gets Considerable
Satisfaction out OF the Present
Iron Situation.

Mesabi range this year, hampered as
to output by nothing but the unwill-
ingness of furnacemen to use more
than so much of it, sends down about
40 per cent of the total from all ranges
possibly little less.
But there are other considerations
that suggest better price for lake
ores next year. Chief Of these is that
the miners must be paid higher wages,
Higher wages were certainly in the
programme, as most men in the trade
made it up, year ago, and higher
would have come but for the setback
given to all calculations by the de-
pressi ng Developments in the ore
trade last winter. But when the last
of the cheap ore of 1897 has been ship
ped and the mines start on stocking
for 1898, it may be expected that the
long delayed and much deserved adj
vance to the miners will come. That
advance must DO made up to the
companies in higher price for their
product. Labor on the lakes is en-
titled to an advance, and that must.
be counted on as factor in freights.
Beyond these considerations is the
general one that the great iron min
ing and vessel interests expect to get
some share in the prosperity that is
coming to the iron industry and that
is expected to be more market in 1898
than in the closing of 1897.
Account has been taken in most Of
the discussions concerning next years
ore basis, of the effect of the Carnegie
purchase of Gogebic mines on an a.
greement among old-range producers.
This question, we take 1t, is of minor
Importance. The policy Of the Car
negie Steel Co. has been increasing
away from combinations. In the
present case its interest in high
price for old-range Bessemer ores
might be even greater than that of
producers themselves. The latter
must certainly oppose any advance
that gives the Pittsburg interest
a pronounced advantage over other
steel makers who are the mining
companies best customers. No special
advantage could come to other ore
producers, more over, from having the
Oliver Mining Co. in the pool unless
the latter consented to such a linn
itation of its output as would make
it buyer, to same extent, of other
old-range ores Yet it would scarcely
seem that the Carnegie Steel Co, would
go into iron mining with any inten-
tion of restricting Itself in any par
ticular. Thus it would appear that
this question, like the, Mesabi question
settles itself, and that any association
for next year will be composed of old
range Bessemer mines outside Of the
Norrie and the Tilden.
What ever advance may come in
prices, it is certain that the mistake
of 1896 will not be repeated Even if
the ore men found themselves able to
control the situation we are sure that
the disastrous decision of that year
would not be made again. Bright as
the outlook is for demand; limited as
the influence of the Mesabi range is
at bear argument, the great con-
sideration Of all is that prices of Lake
Superior ores must hereafter be kept
an basis that will permit of the free
and regular shipment of America steel
products abroad substantially at the
prices of the past year. 1t is evident
that the day of any considerable
| fiuctuation in the price of Lake
Superior ores has gone by; no doubt
the statement can be made broadly of
all iron and steel products. The ex-
port trade that has been opened up at
such cost and by such persistent effort
of the steel makers, is at last to reach
back to the ore trade and become a
controlling influence. There may be
some dissent from this view, but we
believe the logic of events will force it
upon any whose interest would oppose
it. There may be owners of mines on
Lake Superior who, forced by the
peculiar conditions of 1897 to maintain