Wauwatosa news. [volume] (Wauwatosa, Wis.) 1900-1948, 1901-05-04

mineral lands. whose reserves of ore are
known to no one but the managers of the
company, but undoubtedly amount to
scores of millions of tons. are in its pos
session. Then it owns large and impor-
tant mines that are under lease to the
Carnegie Steel company and other large
consumers, the ore from which must go
over the Rockefeller road to Duluth. and
much of it by his ships to Lake Erie.
His road hauled last wear more ore for
these mines than for itself. 1t also han
dies ore on the general market. and last
year its total shipments to Duluth were
nearly 4.0OO.OOO tons. The net income of
the road and mines under lease is said TO
be about 81 100000 a year. and it is if
the profit in railroad transportation of ore
is 30 per cent. of the charge for trans
portation. as is alleged There is a profit
in mining operations also, but this is
small. 1t is especially small in view of
the fact that the company has made Il
contract for o00,OO0 tons per annum of
its best ore at $500 ton. delivered at
Lake Erie. which is a lower price than it
can deliver it and pay the established
rates. The undeveloped mineral lands of
the company on the Mesaba range are
sufficient to continue the operation of the
road at its fun capacity of above 5.UOO.-
600 tons a year for longer period than
present stockholders will continue.
Among the mines owned or controlled by
this company in one way or another are
most of the famous ''steam shovel mines
of the MeSaba. concerning which more
misinformatiOn mas probably been printed
than about any other great enterprises in
America.
Large Fleet of Steel Ships.
Associated with the Lake Superior
Consolidated Iron Mines but separate
from it and not in the same ownership.
is the Bessemer Steamship company. the
n CT, hi
owned in the United States. There are
in the fleet fifty-four steel ships Of from
5000 to $500 tons capacity, and all Capa-
bic of handling i'll the short lake season
about $500 900 gross tons. This fleet
was first considered in the fall of 1879.
when Mr.. Rockefeller found that vessel
men of the lakes wanted what his agents
considered an unreasonable price for car
ryiug ore the following year. BY the
spring of 1896 there were a dozen fine
ships in commission and the fleet has
grown rapidly ever since. II IS owned
exclusively by Mr.. Rockefeller, except
for the few shares held outside neceS-
sary for organization. j. Il. Cotton. Mr..
Rockefeer'S Duluth attorney. is the
managing owner. 1t is understood that
this fleet has passed into the control Of
Mr.. Morgan with the mines, aud that
both will be turned over by him TO the
United States Steel Corporation at a
largo pfonI-
By securing these Rockefeller proper
ties the Steel corporation comes into
ownership Of nearly all the mi@"s in
Minnesota. having an annGai capacity
for producing more ore than has ever
been taken from them. Though these
mines last year shipped nearly l0.00O.000
tons. their capacity has not been tested
The bulk Of the mines in Minnesota were
owned by the Rockefeller company.
Carnegie and the Federal Steel, the lat
ter through It's Minnesota Iron Com
pany. In addition to the mines the com
bination has two railroads that can move
to the lake about 9.o00.00O tons without
increasing their facilities With the
BeSsemer Steamship company in addition
to its other groups OF ships it has 1876
steel ships. capable of moving in the
season of navigation 1l.00oO00 tons of
ore 1t is important to note that last
year the mines now included in the CONF
uinallon is nearly equal 10 its probable
mineral output for 1901. Owning mines
that produce every possible mixture Of
ore that may be required, owning rail-
roads and ships for the delivery Of
ore on Lake Erie docks, and owning is
own coal fields and coke ovens. it has IA
cilitipS for a cheaper assembling Of ma
terials than any competitor on earth.