The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1897-10-13
MINI EsOTA IRON COMPANY.

majority.
MINI ESOTA IRON COMPANY.
The Marine Review Says Regarding the
| Minnesota.
The Minnesota Iron Company is, a
striking example Of big corporations
that have grown up on the lakes in
the past ten or fifteen years. There
are. of course only a few companies or
firms whose operations in mines, docks
and ships are to be compared with
those Of the Minnesota Iron company,
but the wonderful development of
this concern within very short
period is additional proof Of a great
deal that has been written about the
ex tent of lake commerce. 1t may
be said also that the individual
interests of John cd. Rockefeller in
the Lake Superior mining region and
in the transportation of iron ore,
acquired practically in the last five
years, are now fully equal to that of
the Minnesota Iron Co. Affairs of
the Minnesota company are made
public. as it's stock is listed on the
New York exchange, and there is no
QuestiO n as to the extent of its
operations made known by annual
statements.
The capital stock of this corpora
tion, organized only fifteen years ago
to develop the Vermilion iron range
of Minnesota, is S16, 100000. Its
holdings in mining property, now ex-
tend to the Mesabi range, covers
! hundreds of acres. 1talso owns and
operates about 154 miles Of railroad
five ore docks, equipped with 743
pockets of 0 capacity of 10000 gross
tons iron ore; and nine steel steamers
and five barges with a combined
capacity for single trip of about
so, 900 tons. The railroad is operated
by the Duluth and Iron Range
Railroad Co.. and the vessels by the
Minnesota Steamship company, both
of which are controlled by the parent
| organization, It's seven mines,
representing the developed property,
have producing capacity of 3,ooo,-
600 tons annually and the railroad
and docks can handle $500. 900 tons.
The mines will probably produce this
year a total approaching 1900, 1000
| tons.
The number of employees Of the
company in its mining'operation alone
is about $500 at the present time. 1t
varies from 1900 to 5000. In thirteen
years which have elapsed since the
first shipments from the VermiliOn
range the original hard-ore mines Of
this company have produced 5.I69,07I
gross tons of ore;the Chandler another
of its leading properties, has sent ont
1898, oo7 tons, and it's Mesabi mines,
the largest known Of which was
discovered but five years ago, and
which have been shipping but three
seasons, have produced 1,S42, 5o4 tons,
making total tonnage of 1o.So4, 1872
gross tons, or more than I2,ooo, 900
net tons of iron ore handeled by a
concern only fifteen years OF age.
Not all of this ore, which represents a
very heavy annual output, is moved
by the fleet Of nine steel steamers and
FIVE barges owned by the Minnesota
Steamship Co. These vessels are
capable Of moving probably close to
| 600, 900 tons in season OF navigat-
| ion. The balance Of the product is
provided for by charter of vessels in
which stockholders Of the company
are interested, land by the engagement
of vessels also in the general market.
The five ore shipping docks Of the
company at Two Harbors, Lake
Superior, are fifty-seven to eighty
six miles from the mines. The
railway system Duluth n Iron Range
Coz between mines and shipping
docks is standard gauge. with l54
/ miles of main line and 90 more OF
side tracks, laid with 8O-pound rails.
There are fifty-eight locomotives and
2, 290 ore cars, besides other equipment
Of less important kind Of local
traffic. Business Of the railway com
pany in 1895 was as follows: Passenger
earnings, $50. 1853. 0l: freight earnings
81, 4SS, 337 40: mail earnings, $4,000
miscellaneous earnings, S5,453 or
total (s9. 592 66 per mile,l sI,596, 267 10
At the ore shipping docks vessels
frequently load and depart with q