The labor world., 1898-07-16

them $4,000 a mile in earnings for the
calendar year of 1897, and net earnings
of $4,000 for the Iron Range, and $4,000
for the Missabe.
"Final]y, how much do these compan-
les earn considered with reference to
the value of their plants? The return
for the calendar year 1897 showed that
the Missabe earned s2,644,OO0, and the
Iron Range earned S2,O37,00O. Taking
out the operating expenses, 3 per cent OF
the value, and it will be shown that
they are taking 81, 100000 more per year
than they should, giving them 5 per cent
on their stated value. They will claim
that they should have more, because
the roads are temporary and the ore
will give out, and the northern part OF
the state given back to Indians and
wild beasts. This should be regarded
with much circumspection. 1t has no
legitimate place in this hearing, and it
is hardly worth considering. The mag
nitude of the deposits on the Minnesota
ranges are commonly known as the
greatest in the world. They have been
merely scratched upon the surface up to
this time; they are yet in their swaddling
clothes. There has never been a time
when the iron industry has been so de-
pressed as now, and there is little dan
ger of the deposits giving out.
1.-THE charge against the defendants is
one of tho most heinouS. The assocla-
ton of the roads with the mine owners
is highly prejudical to the public inter-
ests. In Pennsylvania the constitution
prohibits any road dealing in the COM
modify it carries.
He said that the roads had over
charged and were overcharging for an
illicit purpose. Continuing his argu
ment on the question of the exhaustion
of the mines, he said that now is not the
time for those people to take their
capital out of the people but to assist a
stricken industry. When the deposits
begin to give out they can collect their
capital, because ore will be worth some
thing. The Michigan ranges will give
out long before ours, and then we shall
own the only available supply OF
Bessemer ore and the railroads can get
back their capital. It is monstrously
grotesque to suppose that Northern
Minnesota will ever relapse to wilder
ness. ~" !" ~,
7 It is not inviting to farmers now, but
his turn will come when the removal OF
the forests will lay bare the fertile soil
of this section. The timber, the water
powers, the agricultural RESOURCES, the
gold mines of the border, will Eli com
bine up build up Northern Minnesota
far beyond what it is now. The Mesaba
road has even looked into the question
Of extending to Rainy Lake The time
will come when these two roads will be
the stub ends of trunk lines leading te
the Canadian Northwest.
1--WE shall show that there is. now il
. this city a gentleman who is trying t.
float scheme to parallel the Duluth &
Iron Range to Two Harbors and ther
to 20 on to the mineral lands of Canada
But these are wasted words, because thu
defendants have already extracted from
the mine owners sum that put at in
terest at per cent will yield to them II
thirty years sum equal to the cost o.
their lines. We shall show that taking
these roads from their infancy their ex
cess earnings are over $2,800,000 for tbt
Iron Range and $2,200000 for the
: Missabe road. ... "sa
1T is a gigantic conspiracy against
the fairest heritage of the state. While
that is not the source Of the inception
of such conspiracy it has a tendency
to produce monopoly and the question
becomes one of state and public import
ance. The question is whether these
magnificent deposits are to become the
subject of a monopoly SO that two
groups of men are to exclude all smaller
groups from handling them. This is ar
intensely interesting question:. One
proof will show that with these charges
continuing these deposits must continue
the subjects of a monopoly, becoming
more so year by year. They can afforo
to run their mines without cent o
: profit because the profit of the haul il
enough to pay on their entire invest
ment. The present tendency is to mini
mize profits, lower wages and drive out
the middle business man. and we are
fast approaching a time when the
world will be divided into two classes
School Election. -.
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