The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1897-05-12
PECULIAR.
The Situation in the Lake Super
Tor Ore Trade Not Pleasing.


Horace J. Stevens, writing from
Ishpeming gives some interesting
facts regarding the Lake Superior
outlook. He says the present situa-
ton in the Lake Superior iron ore
trade is "a peculiar and by no means
Dleasing one. The ore producers,
after prolonged attempts, accompan-
led by much wrangling, have succeed
ed in preparing a schedule of prices
on this years ore, which would excite
the heartiest commendation of the
NEST of exacting mathematician, so
correct is it in every detail. Season
of navigation has opened at about the
usual date, aud everything is ready
for a heavy business, except the busl-
ness itself. Sales have dragged and
mining men and vessel owners are
feeling blue over the unexpected SLOW
ness in business. The prices asked
for ore are certainly low enough, aver
aping as they do one-third less than
the figures obtained last season. but
for some reason, or COMBINATION OF
reasons. the purchasers are slow in
coming forward to buy their supplies.
IT is. probable that a start OF some
little Importance wil3 be made with
in the next few days, and that from
now On the ore market will grow more
brisk. 1t certainly has been more
stagnant during the first ten days or
navigation than ever before in twenty
years.
The only sale of Importance made
during last week was by the Mime
sofa Iron company to the Illinois
Steel company, and as that was a sort
of family affair it had no effect on
business ia general. The Minnesota
Iron company and the Illinois Steel
are impelled by mutual interests TO
an alliance, much as the Carnegie and
Rockefeller interests have allied
themselves together, but there IS no
other basis for the rumor that the
Illinois aad Minnesota companies
were to consolidate. 1t will be diff
cult this season, and perhaps for some
time to come, to hit one without
striking the other Of these corpor-
ations, bat although they can be relied
on to keep pretty close to each other
it not especially desired by either
that should be effected
The Metropolitan Land and Iron
company Laid off its night shift at the
Norrie. East Norrie and PabSt mine:
last week. 1t is probable that thi:
will prove but a temporary reduction
and with view to keeping its mer
available the management arranged
TO keen all its employees at work oil
half time. the two shifts working
alternate weeks. On the NermilioI
range the Pioneer mine has closed
down entirely, so far as mining is con
cerned. throwing 165 men out of work
The pumps will be kept going and tn
Pioneer will be in shape to resum
work full-handed in twenty-fou
hours after notice that sales of its or
has been effected. Unless some sale
of Importance are made this weei
there are number of mines which
VIII curtail forces or close down en-
tirely. 1t is probable that the mai
ket of the next seven days will devel
Cd sufficient business so that Their
will be few further suspensions.
Officers of the Miners union expires
Indignation at the published report
to the effect that the union
moribund, but if the union has ain
great amount of vitality left the fac
is being very successfully concealed
The annual convention. held recent
at Ironwood. was attended by only
handful of delegates from the sui
sidiary unions, and the attempts
organize local union at Ironwoo
was a fiat failure. The strike at tn
Arragon mine, Norway, which W.
backed by the union, has proved
complete failure, the strikers no
petitioning for employment on an
terms. If the union is really pro
pering, strange means are taken II
exhibiting its success.
Stripping has been begun at I'll
Ohio, the Mesaba property recent
secured by the Consolidated compan
The big outcry regarding high roya
ties and high freights, which wi
predicted some weeks ago in tn
correspondence, is now coming fro
uhe independent mines of the Mesai