The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-11-13

better return on their heavy invest
ments For most OF them have seen
little profit in lS97-no such profit as
Is conceded 10 business involving 80
many risks aud uncertainties. Another
valid argument for higher price fur
oid-tange material Ines ia the limitations
which experience has put upon Mcsabi
US controllers 81 tie market The Mes
abb range this year, hnmpcrcd ~, Ia
output hy nothing but the unwilinsncss
ol fnrnncrncn io urc more than so
much ui a., sends down about hits per
cent 81 total fromal! ranges possibly
4 Little less.
But there ARE other considerations
thht suggest 1, better price f,r lake ore.
nest ycar. Chicful these Is that the
miuris must h. pnid higher wages
Higher wages were certainly ia the pra
gram. as most men 10 the trade made
Il up, Acat ago. aud higher wngr.
would have como but Tor the setback
given a. an calculations by the depr,ss
ing developments 10 the ore trade hast
winter. But when The hast ~ the chenpI
ore 81 1891 has been shipped aud the
mnus start on stocking for 1895, IT,
may be expected that the long DELAYED
and much dr7erN ed advance To the min.
clS viii come. That advance must be
made mp 20 the companies IN "a higher
price ior their products. Labor on the
hikes is entitled To- AN advance, and
that must bc counted on M "A factor la
Ir,ghtS Beyond these considerations
!. lie general one that the great iron
mining aud vessel interests expect To-
get some share in the prosperity thu
Is coming TO the iron industry and
that is expected To- br more marked la
1898 than in the closing months uI
1897.
Account has been taken in most ~
Of the discussions concerning next years
ore basis. Of the effect OF the Carnegie
purchase Of Gogcbic mines con- an agree.
mcnt aneng ol'l-nnge producers. This
questinn, we take it., is Of minor import
nrcc. The policy OF the Carnegie Steel
company has been increasingly away
from cotnhlnatiuuS. In the present
ease It's interest IN a high price for old
greater thnn that Of producers them
selves. The latter must cen tniuv op.
pose any advance that gives the Pitts
burg interest a pronounced advantage
a. haf gf.sf.l tVl,. In,
mining companies best customers. No
special advantage could come to other
ore producers, moreover. from having
the oliver Mining company la the pool
unless the latter consented to such a
limitation OF its output ~ would make |
1t a buyer, To- some extent, 81 the old. !
range ores Yet it would scarcely seem
that the Carnegie Steel cnmplny would
go into iron mining with amy intention
of restricting itself in any particular
Thus IL would appear that this ques.
ton, like he Mesnbi question, settles |
itself, and that any nssucintion for next
year will bc composed 81 uld.ungc
Bcsscmcr mines, outside Of the Notfip
and the rildcn,
Whatever advance may come in
prices. il is certain TINT the mistake Of
1896 viii not he repeated Even II the
ore men Iuud themselves able tu con
troll the situation we are sure that tho
disastrous decision OF that year would
not bc made again Bright ns the out
look Is Tor demand limited as the innu.
cucc Of thc Mcsnhi range Is az bear 49,.
gumcut, the great consideration 81 an Ia /
that prizes Of Lake Superior ores must
hereafter Ice kept on basis TINT will |
permit at the free md regular shipment
uf American steel products abroad |
substantially at the prices al the past
year II is evident that the ulny OF any |
considerable fluctuations la the price Of !
Lake superior ores has gone 10y uo /
doubt the statement can pe made /
hrnutlly uf all mon aud steel products |
The export trade that hns been opened |
up az such cost and 10y such persistent /
effort 81 The steel makers, il az last to !
reach back Go the ore trade and bccoue !
"a controlling influence Tletc may I've /
some dissent i,om this ,icw, but we
hcltoye ihc logic Of events will force il \
upon Amy WhOs1 interest would oppose /
&C.. There may be owners Of mines ON !
bike superior whu forced by thu pccu-
btr cundiiions 81 1897 TO mnintain
tlirlr properties la idlrnt So, are hoping
Tor such a price us will permit them To-
mine ore totlS9S. II twenty-five cents
an thirty live cents more on standard I
Bcsscmcr will enable such mime, 10 cross
the line aud operate alta profit, they
wall no doubt lv mIuing their share of
the lS9S product II they must hve
iity tu -rNrnty .itvc cents above ihc
prize oi tu-l lazy, NC are convinced that
tltgt a. ID N.tI ttttt a., a.. 49,. .., ,...