The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1899-12-08
MININGNOTES


ference of ore interests have been
held the past week and the $3.50 base
for old range Bessemers which it has
been intimated in these columns
would be the meeting point between
the advocates of S. and Sc for the base
ore, has been finally settled upon.
the producers of non-Bessemer ores,
who agreed early this year on a mini
mum OF 81 for an ore with 81 per cent
iron and II per cent moisture, held d
meeting on Tuesday and decided that
ores which started at So this year on
late sales OF small lots, should sell at
the outset for 1900 delivery at $4.15.
AS noted last week, Mesaba nom
Bessemers have already sold for 1925.
Other sales of nom essemer ore of
the new range have been made since
at $3.50. At the same time large
sales of ore from leading BesSemer
mine on the Mesaba are reported at
S4.25, one round lot being taken for
Chicago delivery, while the bulk goes
to furnace interests connected with
the property. These transactions
have not led to any precipitate action
/ by other producers of Mesaba Besse-
mers, and some of the latter whose
ores are particularly desirable physi
cally are talking S. and 1925. Inquir-
i les from consumers are very heavy
and the probabilities are that another
week will see the beginning of buying
on large scale. The open weather
in the upper and lower lake regions is
extending the shipping season and
vessels have left Lake Erie ports in
the past few days taking coal to the
head of the lake and expecting to
bring ore down. The total of ore
shipments promises to exceed all esti-
mates. The base for old-range Besse
mer ores-a suppositious ore contain
ing GO per cent iron, .045 per cent phos-
phorus and 10 per cent moisture
will be $3.50. A decision has been
reached also on the old-range non
Bessemer base-an ore carrying 81 per
cent CT iron and u per cent of moist
ORIGINATING it 81. Is, as against 81 at
the opening this year. A significant
fact in connection with the basis
fixed for old-range Bessemers is that
preliminary estimates of next years
production, made by Lake Superior
mine managers show d total less than
the output of old-range Bessemer
mines this year. It is stated also
that the inquiries already in hand for
old-range Bessemers are in excess Of
the estimated production for next
year. 1t can be appreciated that the
market price of Bessemer iron cannot
fall below the $40 line in the next
eighteen months without doing injury
to the furnaceman who buys ore in
the open market. In general, calcu-
lations throughout the iron trade are
based on a strong market for all Of
1900, but all such forecasts leave the
furnaceman with his ore purchases
for the ore year 1900-1901 but half
consumed.
The Duluth & Iron Range has ship
ped total of 100000 tons and is
shipping almost as actively as ever.
1t is intended by the company to
carry on business until as near Jan. l
as possible and it's total may be A.
10000 tons. This will mean Min
nesota ore shipments of 8, 100000 TONS
The continuation of work at these
docks and the running of ships close
to January will have very marked
4 effect on the question Of winter navi-
cation in future. 1t is safe to predict
that if no unusual disasters result
] from the operation of the Minnesota
company's ships into the winter, dis
asters that can be charged directly to
the weather Of that season, it will be
a common and recognized thing for
ships of the better class to be run I'M
til that time of year when rates justi-
fly it. If boats can run to January l
they can also do so until February !,
for Lake Superior does not often
freeze to any extent before the latter
month. The Minnesota company
carries it's own insurance, and by load
ing little lighter than in summer
and running carefully there ought to
be no difficulty in operating the class
of ships in its fleet in any possible
weather.-Tribune
Arrangements are being perfected
for an international mining conven-
tion to be held in Milwaukee, June
next. At this convention it is an
ticipated that many matters of great
Importance to the mining industry
will be discussed, and the matter of
obtaining representation in the cab
met will not be the least among them.
Among the phenomenal records of
ore production for the year, Will be
that of the Fayal mine at Eveleth,
which has already shipped over 1000
| 000 Io fhnir mo ri