The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1898-10-19
l3,5OO,OOO TONS.
Amount of Ore Figured for This Year
The Question of Ore supply

EXetCU UpuTeS received by Une iron
ore sales agents confirm the author
itative opinion recently quoted in
this report, that September ship
ments would be less than those Of
September, 1897. The total was $751;
1872 tons from all upper lake. ports, or
pa 900 tons less than for September
of last year. The aggregate to Oct.
| was 10, 1914, POI tons, as against $780,
ST. tons TO Oct. /, 1897. The gain
over 1897 shipments which Was l,430.-
900 tons on Sept l, has been reduced
to 1.186,000 tons. Ii October and
November shipments should be just
equal to those Of last year, the years
total. by water, would be somewhat
less than 13,500,000 tons. AS has been
explained heretofore, the shortage Of
labor on all ranges has brought the
output considerably below earlier
estimates. Freight rates are so cents
from the head of Lake Superior, Is
cents nominally from Marquette, no
tonnage being sought, and IS cents
nominally from Marquette. no tom
mage being sought, and 50 cents paid
from Escanaba. The scarcity of non
Bessemer ores is being emphasized as
the season is drawing to a close. Ten
cents advance is paid over earlier pur-
chases but even at 81 the amount Of
nOn-BesSemer hematites to be had is
exceedingly small. All ores of this
price on record, this year, and with
the demand that has developed it
would seem that the situation is ripe
for including these properties in an
agreement next year.
In spite Of the tremendous volume
OF business in every department OF the
iron trade, there has probably never
been a time when its future has been
questioned with more interest, not to
say anxiety, True, there is great
unanimity in the belief that consump-
ton on home aud foreign account will
make record breaking years for pro-
duction, in the flag end of the century.
But the question which disturbs the
individual produces is how far he will
be q contributor to these large out
puts. and how be shall put his house
i'm order, not for leaving but for con-
tinuing in the business to which he
has devoted a. lifetime. Concentra-
ton has gone on very recently and is
still going on, at q rate that makes
every man in the business think hard
on the outcome, These movements,
moreover, has been most conspicuous
at the foundation Of the trade.
Future ore supply. in 'sufficient guam
tity and at cost low enough to give
security to the enormous investments
in furnaces and steel works at Pitts
burg and Chicago, has been the aim
of the master strokes of the past year
or two.
Other furnace and steel works com
panies have done Il deal of thinking.
as they have viewed these prepare
tions for the great campaign that is
admittedly ahead, both in home and
in foreign markets. Iron mining
companies with no furnace connec-
tions have also found situation to
think about. With 100000 tons "a
year of the best Lake Superior ores
taken up by two great companies, and
,f IN
make 100000 tons determined in
advance by mining connections Of
furnaces and steel works. outside CON
sumers find reason to stir themselves.
It is a matter Of some moment t 0 con-
Germs with investments Of millions in
blast furnaces and mills to know that
they will have an adequate supply Of
such ores us their mixtures demand
aud at prices that put them on d foot
ing with competitors. The price
proposition is far less important. for
reasons which have been frequently
gone over since the original Oliver
purchase on the MeSabi, than that of
supply. The independent Bessemcr
interests on the old ranges, capable Of
producing upward of 100000 tons of
ore year can be counted on the
fingers Of a single hand. And when
five years have passed over the Lake
Superior region and 10000 600 tons
more of the lest ores in the world
have been taken from. It's mines, what
standing will the buyer of ores in tie
general market have?
On the other iiand is the desire Of
the independent ore producer-who
now has no market for his ore, except
as he finds it from year to year-to
make sure Of tie destination Of his
rar,dllct In Wow Of lie rncnnt lGsanil