The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1902-05-03
TIE MEsABI.

Ihr lease or the Sc OF tne n-c anu
the NE Of the SIC of section 81, the
s.w of the n-w and the NV Of the s-w
of sectin 32. 57-22, was sold and trans
ferred Monday by +. b Hawkins, O.
ID. Kinney. Geo n. Crosby and Capt.
Jas. H. Pearce to the Deering Harves-
ter Works company. of Chicago. The
amount Of the cosideration was 1925,
0OO which was paid in cash TO the
gentlemen. and divided as follows be-
tween them Senator Hawkins and o.
ID. Kinney. Sls3, $50 each Geo II.
Crosby. slO5, 900. ana Capt. J. II.
Pearce $50, 500
The deal was contaminated by the
officials Of the Eastern Minnesota Rail
way company. who took AN option for
lease about three months ago, and
have spent the intervening time pro-
wing the estimates made on the proper
Is. and it is given out that the latter
drill work has demonstrated that the
body contains az least 40 600. 900 tons
Of ore. of which fully $1,000 600 tons
is a Bessemer high in metallic iron.
The property is already looked upon as
TIE coming big ore p0ducer Of the
Mesabi range.
The lease to the Deering people is
made on OF twenty cents royalty, and
minimum annual output of 100, 900
tons. The fee Of this description and
considerable tract of land adjoining
is owned By the Mississippi Land com
pany, which is controlled by Frederick
| Weyerhaussr and r. II. Clute, of Min
neapolis, and T. q. Whitney and John
ID. Mccormack of Green Bay, Wis.
L he Ore has information from the i'm
terested parties that the great property
will be opened mp at once and il is the
hope of the owners that considerable
shipment of ore can be made this sea
son. IL will be an open cut mine.
The Eastern Minnesota .will haul the
ore and now has ali Of the preliminary
work completed for the extension 4
its road from the Stevenson mine 20
the new property distance Of about
seven miles. Railroad work will be
pushed and a. said before ia this iour
nal. the Eastern people expert 70 break
all records ia railroad building
Exploration on this property was
commenced about q year ago pr Mr.
Hawkins aud mis- associates iunu-
merable holes were pun down and every
one found the ore When negotiations
Ton the transfer Of the lense were com
meneea Il was stated that the or bod
ineaured 81 00000u toms hut the proy
ia doue subsequently hgz added r
million tous Il orc ~ he GREAT Hnd
Mr. H8Wkins anl atas till h9l,
thirty nine forty aer trDet 90 lue
adioiriua this property Much Of Il
hits eea drilled Wth the ne es9l
as tia obtained thu laefinH Fht
ore understands tha negotiation 81,
psuaing far the transfer 81 several 3.
tie other parcels
joseph Sellwood 81 Duluth has The
superiutendency o. the new mine and
Capt Walton. late Of the Negaune,
mine. IL 81 charge Of mining work
A special train bearing members p
. the Deering company and others cam'
{ mp Saturday afternoon over the East
err. and a portion % Sunday was spen
in looking over the property Tn
party was composed Of John Deering
head Of the big harvester machiner,
/ company II Chicago and General Man
ager Clark. OF the same company X
II. Clute, Of Minneapolis one Of th,
Zee. owners President Alex Thomp
son and q NAL superintendent Matt
land, Of TIE Republic Iron a stee
, company " r Hazelton 81 Pick
! ands, Ma,her q Company, Of Cleve
land J W Rhodes and VIM a OIL.
we'll known mining men Of Pittsburg
and President L. w Hill Of the East
ern. The party was joined here b
Senator Il. Is Hawkins and A. NJ
!, Chisholm, Mesabi ore.