The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1898-05-25
LARGE SALES
OF MeSaba Ores Made the Past
Week on a Fair Basis.
Manufactures Running Lively
Considering the Present Time.
THE GENERAL NEWS.

HE uElVLNAf- l\LVSs
Some of the well-known Mesabi ores
have sold in round lots in the past
fortnight, and condition sales made
earlier in the year are more definitely
located. Adams ore has sold at 81. %
aud Fayal and Genoa at 1920, with
guarantees of the benefit Of any lower
price that may be made. There are
indications of sharp competition be-
tween the two large interests on the
range-Quite as keen as last years,
though prices are not expected to
reach the extreme point touched last
year But if d Mesabi ore correspond
ing closely in physical characteristics
and analysis to old-range ores selling
at about 1915, has been offered at
A..l5 the past week, as reported, it
would seem that the situation has
!, not greatly improved for the seller
ever 1897. Certainly this basis is dis
Nstrous for the independent producer.
even after Important concession in
his royalty. 1t is est imated that
LOCO, 900 tons of Mesabi ores, outside
OF the early sales in.the Chicago dis
; trict, have been sold, chiefly in the
valleys and the Wheeling and Cleve-
sIand dist riots. H. may be that the
Failure 10 come to any understanding
;.,i Mesab ores may result in enough
weaiiness with the mining Of great
outputs and marketing them without
profit, to lead to a more determined
effort to agree by next year. The
movement of 1898 ore thus far is slug
xlsh. Furnacemen have held back
shipments to get their yards in shape,
and at some docks there has been a
shortage of cars. To make the ship
1nents counted ON for 1898 there must
be a much better adjustment of dock,
Vessel, railroad and furnace operations
than has been possible thus far.
lug to receive unsold ore, as stocks of
sold ores that are bound to accumu-
date from lack OF Car facilities,
through the season, will be embarrass-
ment enough. $50
The week has brought the general
conviction that the war will be longer
than has seemed probable before, and
in,s some quarters the retarding effect
of that belief upon business has been
apparent. Yet other facts in the iron
situation reinforce optimistic views.
Nossigns appear of slowing OF mill
operations. Bar iron. sheet and tin
plate mills, in the six weeks interven-
ing before the annual shutdown for
scale adjustment, will make large out
puts. If the changes talked of in the
meeting of the Amalgamated Asso-
ciation wage committee are ratified
by the convention which began its
sessions in Cincinnati this week, the
chances are excellent for idleness
throughout July. How much the war
is responsible cannot be judged
doubtless very largely-but it is plain
that there has been change from the
policy of freely contracting for months
ahead which prevailed in December,
January and February. With the
mid-year so close at hand a very large
volume of requirements for the Sec
ond half might be expected to be
under negotiations just now. The
west appears to be under less restraint
than other sections and the Chicago
district has quite outrun its record.
The agricultural demand, which for
tunately refuses to be amenable to
any of the influences affecting other
interests, explains the signal prosper
ity of western mills and foundries.
The east, which has shown itself most
sensitive to the fiuctuating political
and financial conditions in the past
few years now feels more than any
other section the effect of the war.
At Chicago, the last week has been
tully up to the average in point Of
Sales. and otherwise has been quiet,
with no notable features. The de-
pand for all classes Of iron and steel
Aas been good, and has every indica-
tion of keeping up. A number of the
large buyers here and a majority OF
the smaller ones have still to fill their
requirements for the balance of the
year, and it Is thought sales to Ill
this demand will keep the tonnage OF
orders large up to the time Of the