The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1897-01-01

cent transfer it was the only Me.
saba property operated by the
fee owners. The work of OPEN
ing it up has had able direction
|; in the past three years, and no
mine on the range is today In
Such excellent shape for econ
omical operation. There is inb
lost time backing out cars, the
cuts on the two sides of the. pro.
perty having been connected 50
that a train as soon as loaded
goes directly out and can BE
followed Immediately by anothss
er. The Rathbun forties, which
adjoin the Mountain Iron, the
two being worked as one mine,
are also included in the deal.
The ore is all Bessemer, and 10
the first an,i second seasons
steam shovel work three grades
were made in the sorting, Noun
tain Aron, Helmer and .Tubal.
The last of these carried .06 ID
phosphorus and 63 per cent ID
iron, but still found place ID
5essemer mixtures. This ore
was near surface. In the past
season only the Mountain Iron,
which averages 64.2 per cent il
iron and is guaranteed below
045 in phosphorus, and the Hell
mer, running 63.3 per cent .iu
iron and .052 in phosphorus,
have been found. The amount
of ore in sight is enormous, and
the property has been so we'll
opened up that if need be 1, 500,-
600 tons could readily be taken
out in a year. It is understood
that the terms of the lease in.
clude the payment of a 5000, 600
bonus to the Lake Superior Con
;solidated Iron Mines and a Is,
cent royalty. The interest on
The bonus at 6 per cent would be
equivalent to 5 cents a ton on
f20, 900 tons a year, while the
principal itself would be equiva a.
lent to 2 cents a ton on 10000, !
900 tons, though we do not use
this figure as an estimate of the
amount of ore proved mp: a.
ding cost of mining aud expen-
ses-and as depth and water in
crease the latter will be a more
considerable element-it is fair
to put the cost of a ton Of orc at
the mine at close to As cents.
Figuring the rail freight to Du-
luth at so cents and the remain
ing vessel and rail hauls at 81. Is
together, brings the cost of a Cd
per cent Bessemer ore at Du
quesne to $40. This is not the
cost of a ton of the ore mixture,
to be sure, as hard ores bringing
a considerably higher price will
make up a certain percentage.
The Duquesne furnaces were
built to use large amounts Of
Mesaba ores, and while definite
figures cannot be given, it is un-
derstood that so to 60 per cent
Mesaba has been attained. It
would be entirely In bounds to
say that $13 steel is a possibility
under such q combin alton of
economies as the Carnegie Steel
company has secured for itself
in the past year, taken in con
nection with it's cheap fuel,
through the identified interest
Which controls so large a pro
! portion of the Connellsville coke
output. The expenditure re
! quired to command these advan
tages have been enormous, anG
this must not be overlooked il
computations of cost, but the in
terest on investment is fraction
al in comparison with the result
ant saving It*.is understood
that the Carnegie Steel compan,
is to pay royalty on minimum
output of 600, 900 tons a year
and that it is to mine ore only
for it's own use.
At the Franklin group; b
news of Importance is yet oh
tainable, about $50 men bein!
Employed, a day crew only be
ing worked in the new No.
} Shaft Franklin and at the Ress
emer. 1t is hoped that a great
er force may be emwloyed short
ly. -,
About 25 men are employed a
the CINCINNATI. in drifting, prt
) ting in a new skip road and o1
q ening the lower level prep(tairt;I Il
!. tory to active working. Th
! Cincinnati will do conslderabl
mining and stockpiling the lat
ter part Of the winter f., Il. !.
The Norrie mine, at Ironwoot
!, added about 125 men to. its fort