The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1899-02-08
ORE SALES MADE.
sales Exceeding All Ever Made az the Be
gii.ninG of 4 season.

Column d week ago. in connection
with the announcement Of the quota
tions for 1899 on old-range Bessemer
ores, that large sales might be expect
ed within the ensuing week. The
sales have been made. and in volume
far exceeding any weeks transactions
at the opening of an ore season. Buy
ers came promptly into the market,
au6 in the case of some OF the most
desirable ores il was "a problem with
selling firms To adjust the acquisitions
50 that customers who wanted their
usual ores could be satisfactorily
taken care of. Tie largest purchases,
! Is heretofore. were made by the Chi
J c4.yo interest. which is nota consumer
I OF Federal Steel Co. ores outside OF
u Mesabis The result Of the weeks
business is that several sellers of old
I range Bessemers are practically out
[ of the market; that the Mesabi ores
I are opite well taken up and that large
sales OF non essemers have been
made. On the other hand buyers for
tie most part have secured their
years supply. Business heretofore
drawn cut over weeks and months has
been closed in week, and any expec-
tatioa that the pace will be kept up
1 even another week viii be disappoint-
I ed. II quite toe early 70 make fig
ures as to the relation between the
years consumption and the years
production. While some buyers will
not get the ores they started out TO
buy, adjustments viii be made, as
heretofore, by which with some
change of mixtures consumers viii be
itakeu care of. As previously remark
:. ed, ali the years product will be need
ed, al the present rate Of consump-
ition. and dock stocks are expected to
be drawn upon to a greater extent
than before The estimates of out
put, On which sellers have been work
: ing, in disposing Of their product,
have been conservative, and there is
no disposition TO book too heavily and
run chances Of having TO scale down
lin the latter part OF the season. The
prices Of Mesabi ore show various ad-
: tvances over last year. In the case Of
Fayal the 1899 price is $40. Sparta
which was the highest priced Mesabi
ore OF last season, leads also this year
at s245, an advance of 20 cents over
1898. In non-Bessemer ores the ad-
: ivances secured have been from Is to
20 cents over last year. A Marquette
range ore that sold at sl.70 last year
is now s1S7. The basis in the main
mas been 81 for an ore running 81 per
cent in iron and II in moisture, the
= igher phosphorus ores bringing a
premium in view of the growing scar
city of mill cinder. Among buyers of
non-Bessener ores the past week the
leading Pittsburg interest may be
banned. Eastern furnacemen, it
= would appear from the weeks inquir-
les, will want quite as large a supply
bf Lake Superior ores as in 1898,
though their imports of Cuban and
baher ores are expected to be consid-
erably larger. In the Lake Superior
g egion operation are on as large a
scale as the supply Of labor will per-
nit. The future operators of the
Queen mine are not yet decided, A
Pittsburg interest is among the par
les negotiating. In the case Of the
: Franklin mine on the Mesabi range,
! 1t is expected that the option Of the
Pittsburg s. Lake Angelina Co. will
he closed and That the mine will be
Extensively wrought in 1S99.-Iron
Trade Review.
.
Ground Hog and the Weather.
mr.. Ground Hog saw his shadow