The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1899-04-12
ORE GOSSIP.
The Steel Makers as Min-rs OF Orc Briefly
DisCussed.
PROPERTIES BEING SOLD.
Al Mines Well Sold up for ls99--Lak
transportation stan a. Issue.

.
dueers of steel, particularly by large
consolidated interests, TO provide
their own iron mines are an Interest,"
ing phase Of the present movement.
The drift towards control OF Lake
Superior iron properties by steel max
srs has been exceedingly rapid, and
there has been no little competition,
in fact. for some OF the clloicer prop
critics, 1t is probably true OF iron
mining companies, as of blast FUR
nnres steel works and rolling mill
companies that their business is FOR
sale to any conner who is willing to
pay sufficiently attractive price;
therefore, if the present pace is long
kept up the properties ON Lake Sup
erior that must go into the market 10
dispose OF their product will be a
8Walt !NluoTllg.
Within the past ten days the newly
launched Republic Iron & Steel Co.,
has practically concluded negotiations
for properties on the Mesaba. Gogebic
and Marquette ranges. as noted
The Lake Superior Iron Co. deal has
advanced so far that most or the
stock has been placed in the hands OF
the officers of the company for trans
fer. and in the near future the trans
fer to thus far unknown buyer will be
eompleted. The National Steel Co.,
regarded in some quarters as the fu-
ture owner, is known to have had
very comprehensive plans for ore and
fuel supply. Its option on another
well known old range property is
likely to be taken up in due time. The
American Steel & Wire Co, has been
in the market for ore properties,
also, and its purchase on the Mesaba
has already been recorded.
Three years ago, the destination OF
less than one-third Of the output Of
Lake Superior iron mines could be
figured in advance OF a seasons open
ing. This year in round numbers 60
per cent of the ore mined will be
smelted by mine owners. At the
present rate Of mine-buying, counting
pending deals as good as closed, there
will be less than Is per cent Of the
production of 1900 to be sold on the
market. The giants are beStriding
the trade, with one foot on mines and
the other on finishing mill.
The various negotiations for Lake
Superior mines are still a fea ture Of
Interest in the iron trade. AS all
mines are we'll sold up for 1899, prop
critics likely to change hands will not
he available as sources Of supply for
the new owners until 1900. Under
these conditions some of the options
now held may not be closed for some
little time. Important properties are
named in current report concerning
some Of the large companies. Ameri-
can Steel & Wire, National Steel and
Republic Iron & Steel Co. are all in
tsrestcd i'm negotiations thatare more
or less advanced. Though the de-
mand for general advance, made by
the miners at Ishpeming, few weeks
ago, was not pressed to the point of a
strike at the time. agitation has been
going on. and in the past week the
union called its members out and at
0nce the tactics Of 1895 were begun
parades to the various mines in an
effort TO compel all non-union men to
quit work. This has been only partly
successful and measures have been
taken by the companies to protect
their men who want to continue
work. 1t would seem that the men
would be slow TO repeat the folly OF