The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-02-12
IRON ORE POOL
stands ia Path Of cyclone That Wrecked
the steel Combination.

the steel Combination.
CHICAGO. Feb. 1.-THE Tribune
says: "The iron ore association, which
has controlled prices and fixed the OUT
put of Lake superlonr iron mines
stands directly in the track Of the cy-
clone which has swept away every
combination and pool in the steel
trade for the division OF business and
the maintenance OF prices.
~ hat the ROckefeller-C Carnegie
combination Will do in the ore pool vii!
become manifest within fortnight.
The first announcement, II 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 collapse
of the steel rail pool will be the termin-
alton OF the ore pool. II Will mean q
terrific war on prices by all the iron
mining companies OF northern Michigan
and Minnesota. Among some there is
serious question II the iron pool has not
already gone. In previous winters the
production OF every Important mine In
the Lake Superior region had been al
loted and prices fixed long before this
time in February. As yet no allotment
has been made and no prices fixed for
the coming season. Meetings have been
held Mt Cleveland, but they have been
frultless in reaching an agreement. ON
all sides the sentiment is general that
the ore pool cannot be saved, ana
identically that the same influences
which have wrecked every iron and
steel combination in existence at the
beginning OF the year VIII prevent the
iron mining companies from reaching
an agreement In the war the two
great companies Will be the Minnesota
Iron Company, with headquarters In
this city. and the Lake Superior consol-
dated mines, controlled by John ID.
Rockefeller. Both operate IN the Me-
saba range, above Duluth, In Minneso-
Ia, although the Minnesota company
Inns heavy interests in the VerrnllllOn
range also. Their railroads reach in
the same region and some Of their prop
critics ndIoin each other. Further to
the westward is the Mahoning mine,
owned by Pennsylvania iron manufac-
turera While every range in the Lake
Superior region will be Vitnlly affected
nv the outbreak OF hostilltles, the bat
tleground Will be the Mesaba range,
where the leaders meet.
president d. A. Bacon, OF the Min.
uesota Iron Company. says that he
knew OF no agreement covering the out
nut of the mines for more ore.
"All Mr.. Bacon would say regarding
the impending struggle in the ore trade
was There are 100000 tons OF ore In
sight In the MesHba range. The Rock
cfeller holdings either in fee or under
lease, including the fee OF the Mountain
iron mine. which has been recently
leased to the Carnegie steel company,
no doubt approximate lOO.O0O,OOO tons.
The rest is held by people who have no
no connection with Mr.. Rockefeller's
interests.
Two tons of iron ore can be mined
now in Lake superior region for every.
nne tnat can be sold. over two tons Of
steel rails can be made for every one
used by the railroads. II Is thisNnllm-
lied c9uacIty which Will give such
boundless opportunity for warfare,
Either Of the great companies on the
Nesaba range could flood the market
With orc once the contest has begun"
one marked effect Of the collapse of
the steel pool has been to stop all talk
about rnIsIng the tariff on iron ore, iron
and steel.
pIitsburgh manufacturers are re-
norted as not disturbed by the report
mai the merchants bar Iron associn-
lion ms gone the way Of the rail pool
N was gald the efforts OF the nssOCia-
tion 10 maintain prices Ind been inef-
Fectunl from the time IL was organized
t,yn wears ago. The Pittsburgh bar
iron mill owners refused TO Join the as
gncintlon and made II difficult. IL was
asserted for the organized mHnuTaC-
turarg 10 maintain their compact. The
asspciatlou included all the mills in the
Mahoning and Shenango valleys"