The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1898-09-07
MINNESOTA IRON COMPANY.
Concise Description of the Largest Mining
Company In the World.

and other steel making concerns into
what will ultimately, undoubtedly,
be combination of the entire steel
making and mining interests of the
United States, at least SO far as the
large concerns are concerned, the fol-
lowing details of the properties
of the Minnesota Iron
company are interesting. They are
taken from recent announcement by
the company, and give some interest
ing data concerning this. the greatest
mining company in the world.
The capital stock of the company is
S16.5OO.O00. The property of the COM
pany now consists of the iron mines
in township 81. range Is, St. Louis
county, Minnesota, thoroughly equip
ped for business on the most extended
scale and with the most modern ma
chinery, and mining now at the rate
of 100000 tons year, and with more
iron ore in sight located recently and
for the past few years by the diamond
drill than ever before, not less than
5000, 900 tons of various merchantable
grades; about 11,ooo acres of land
selected for ore, much of them known
to contain very large and valuable
deposits. but waiting to be opened;
nearly 1000 acres of land at Two Har-
bors, the only available harbor on the
shores of Lake Superior within $50
miles of Duluth; the Duluth & Iron
Range railroad. built at a cost of
about $4,000, 900 and fully equipped
for the moving and shipment of d.,
600, 900 tons of iron ore year, with
five great docks built at cost OF
81, 200, 900, with 1900 ore cars and
ample locomotive capacity with
modern and large shops, yards, ETC.;
with state land grant of about 61o,-
900 acres; also the capital stock of the
Chicago & Minnesota Ore company,
owning a majority of the stock of the
Chandler mine, mining this year 7oo,-
600 tons of rich ore, owning the
Canton mine. and various other min
ing interests of the Mesaba range con-
trolling in the aggregate about $4,000
acres of mineral and timber lands.
Among these subsidiary companies
are the Fayal mine. mining
this year 100000 tons, the Genoa,
mining this year about 100000 tons,
and the Norman, the Auburn and the
Elba, each mining this year not far
from 100000 tons. making a total
mining operation for the company
this year of not far from 2,7oo,ooo
tons, besides which are the Canton
and Cloquet mines, now idle, but of
large capacity. Some of these mines
produce ores as rich as any iron in any
part of the world, and they have
shipped since their opening. the ag-
gregate of 1861, 554 tons, not includ-
ing the present year. In addition to
these mines are several undeyeloped
ore properties on both the Mesaba and
Vermilion ranges, which are known
by thorough explorations to contain
many millions of tons of ore, so that
the total holdings in fee of the Min
nesota Iron company and its subsid-
larry companies are about $4,000 acres,,
and in lease $500 acres. There can
be mined from the company's mines
and shipped over its road to Lake .Su-
perior not less than 1000, 900 tons a.
year for an indefinite number of
years. In addition toits land equip
ment, this company owns the stocks
and bonds of the Minnesota Steam
ship company. which has ten steel
steamers and eight steel consorts, all
of the most modern construction and
of the largest and most economical
size. varying in carrying capacity
from $500 TO 5000 tons each, and able
to transport between Lake Superior
and Lake Erie not less than $4,000