The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1897-02-12
Bitter Struggle Between Two
Great Organizations Of Cap
ital Begun.
Rockefeller Carnegie Combina-
tion Pitted Against the Min
nesota Iron Company.
Collapse of the Ore Pool Already
ASsured--Mesaba the Battle
ground.

ShiSabop l. CO' iO AAAbuhS 90
The iron association which has con-
trolled prices and fixed the output of
Lake Superior iron mines, stands di-
rectly in the track of the cyclone
which has swept away every combina-
ton and pool in the iron and steel
trade, for the division of business and
the maintenance of prices.
What the Rockefeller Carnegie COM
become manifest within a fortnight.
The first announcement, it is said, will
be in the shape of large sales of ore for
delivery during the coming season Of
navigation, without regard to the pool.
Even more important than the col
lapse of the steel rail pool will be the
termination of the ore pool. 1t will
mean a terrific war on prices by all the
iron mining companies of Northern
Michigan and Minnesota.
Ore Pool Must Go Too.
Among some there is serious question
If the iron ore pool has not already
gone. AS yet no allotment has been
made, and no prices fixed for the COM
ing season.
On all sides, the sentiment is general
that the ore pool cannot be saved, and
that .identically the same influences
which have wrecked every iron and
steel combination in existence at the
beginning of the year, will prevent the
iron mining companies from reaching
In tho fhn
great companies will be the Minnesota
Iron company, with headquarters III
this city and the Lake Superior Con-
solidated mines, controlled by John ID.
Rockefeller. Both operate in the
Mesaba range, above Duluth, in Min
nesota, although the Minnesota COM
pany has heavy interests in the Ver-
million range also. Their railroads
reach the same region, and some of
their properties adjOin each other.
Further to the westward is the Mahon-
ing mine, owned by Pennsylvania iron
manufacturers.
The Mesaba the Battle Ground.
While every range in the Lake Su.
perior region will be vitally affected by
the outbreak of hostilities, the battle
ground will be the Mesaba range,
where the leaders meet President d.
H. Bacon of the Minnesota Iron COM
pany says that he knows of no agree
ment covering the output of the mines
or prices for 1897. He expected large
demand for steel and perhaps an ex.
port trade. This would certainly call
on the mines for more ore. All Mr.
Bacon would say regarding the inn
pending struggle in the ore trade was :
There are 3oO, 900, 900 tons of ore in
sight i'll the Mesaba range. The Rock.
efeller holdings, either in fee or under
lease, including the fee Of the Noun.
tain Iron mine. which has been re-
Gently leased to the Carnegie Steel
company, no doubt approximate 1OO,-
600, 900 tons. The rest is held by peo-
pie who have no connection with Mr..
Rockefeller's interest
Uni mited Capacity a Factor.
1.-TWO tons of iron ore can be mined
now in the Lake Superior region for
every one that can be sold. Over two
tons of steel rails can be made for
every one used by the railroads. 1t is
this unlimited capacity which will give
such boundless opportunity for war
fare. Either Of the great companies on
the Mesaba range could flood the mar
ket with ore once the contest has be-
gun"
One marked effect of the collapse OF
the steel pool has been to stop all talk
about raising the tariff on iron ore,
iron and steel