The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-04-02

a careful study OF these figures shows
surprising variations from year to year.
%coircident largely with similar, though
not SO extreme variations In the Amer
.can production OF pig iron and steel.
Owing to their great richness, extent
and advantageous location, the mines Of
Lake Superior furnish much more than
hals the ore smelted In the United States
and the history OF the lake mines for tho
past quarter OF q century Is largely an
epitore of the entire American iron
trade. The figures show an expansion
in business between 1885 ard 1890 almost
without a parallel, the product OF the
latter year being almost quadruple that
OF the. former, but five years before.
The severity of the panic OF 1893 is
shown by the falling off Of one-third in
output, while two years later, under the
stimulus OF low prices and increasing
demand, the production reached a high
er-fisure thanFeyer before. In 1887 an
other high Level was reached. while In
the current year a still larger output is
assured.
The price Of ore this year, while not
quite so low rs last, Is with the eIcep-
ton Of that year less than eyer before,
and slightly lower than in 1896. The
. " oSSNSi1taSip poSk ohi
prising the owners and operators OF all
mines producing Bessemer grade oreo,
except those Of the Mesaba district, has
regulated prices and tonnage for the
past three years and Is again In
command this season. In 1856 the mis-
take was made OF ARBITRARILY increasing
prices more than one-third and In 1897,
owing to Internal discussions, an equal
]y bad move was made In reducing the
price by one-third, the cut exceeding
the Increase, as the increase was from
$3.50 10 81 IN 1896, while the cut In 1897
was from 81 TO S2,s5 per ton The pres
ent figure Is $3.50 per ton. this price be-
Ing based on the standard ore Of the
Norric mine. The various items affect
Ing the vaiIe OF ores have been carefully
figured by competent chemists and
1natnenatic.ans, a premium being al
lowed Tor excess OF units OF iron and
decrease In PHOSPHORUS. while a pen
nlty Is cxacted for shrinkage in metal
lie IRON or excess Of PHOSPHORUS mois-
ture. II Is nd .nitted by both producers
n consumers that In 1898 tables and
analyses OF the ore pool are both math-
emat!cally and chemically correct and
they afford a fair basis upon which both
parties may meet and do business, as
The tables have been determined with
out reference to anything but the facts.
Ihc allotments of the ore pool for this
year provide for the marketing OF 1900
wv tons OF Bessemcr orc from the Mar
quette. Gogchlc, MeDominee and YER
or agreement regulating the output and
prices on Mesnba or OF non-Bessemers
from the toar old ranges. The prices ON
the old-ranse Bcsscmcr grades having
been fixed before tho market was OPEN
cd, considerable transactions have al
ready been made and perhaps two
thirds OF the 1000. 900 tons provided for
nave been placed.
me transactions In Mesabas and nom
icssenlers have been much lighter but
the better grade Bcsscmers, those which.
Gre not far from the line In PHOSPHORUS
ana are high In Iron. thereby allowing
OF their use IN Bcssemer mixtures, arc
selling not much below the. Bcsscmcr
PRICE, some transactions at $40 having
gently been noted on ores that COM
mandcd only s2.25 last year showing, In
this case, that. the non-B esaemcr ore
mas gained rs much in price as higher
grades. The situation regarding Me-
faDh orcJ Is still uncertain but a heavy
output Is assured and prices arc likely
10 rule at approximately the same fix
ures as last ncason. A dlt;crpntial OF
twenty-five cents per ton between old
range and Mesaba BesscIncra OF cquly-
nlcn, chemical constitution is made
Iuatc' as was plainly demonstrated last
e"lRon,
There are certain fancy orc8, pro-
diccl In small quantities, which will
t@ll his scogon around 1915 per ton. At
Inc other end OF the line, there are ores
Wa:ch WIN set nj !. or less. tho latter be-
me the sliicioue class, low IN units OF
ron. deficient In p~llospforpna and high
~ stica. thug giving an ore cmlncn,iy
suited for certain furnace mixtures, fS-
hrGialiy with Mesaba non-T3cascincrTs
II " known that cargors OF silIcious orc
Nerr sold last Season, dellvcrcdiD Glove.
nLhi, at 1885, per ton OF 2.2i0 pounds
~ th's aEurt the price received at tho
;nlh,' was SIS than Tho average charge
~ "a!ltHcrs' sana al the sand bank.
me Carnegie Steel Company CLtd)
s5ftrnn It's orc largely through the OIL
: .sF Mining, Company. which lisa part OF
;hc trcat Carnegie sy6tcm. The Oliver
sas several or tho beat Mcsaba mines. n,
nN mlnc atIronj Mountain on the NE
lV!niapc range and L the close of last