The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-11
MICHIGAN
THE TRUST WELL FORTIFIED,
Il VIII Have Ore for Hundred Years Be.
fore Ii Stops Ruylnu -

Il VIII Have Ore for Hundred Years BE.
fore II Stops Buying.
ISHPEMING. MICH.-An iron ore SUP
ply for generations to come is in possession
Of the steel trust recent published state
ments that a comparatively few years
would see the big corporation at the end
of it's ore resources to the, contrary not
withstanding. On each Of the several
ranges Of the Lake Superior district. it
has the cream Of the mines and undo
veloped properties. ~.s'.-f .a
Early in the. contest for ore reserves
the steel trust took front rank biddins
literally for such mines as money could
buy and steadily adding to it's holdings
until now 1t is figured by mining men
that 1t has ore In sight to last it fully
sixty years. allowing for the natural in
crease in its iron and steel manufacture.
Prlces which seemed far too high by other
interests In the market for ore properties
and which the trust Willingly paid. now
appear Very cheap. developments and time
having shown that considering the real
worth of the deposits the mines were ac
CURED at low figures. The company Is
still investing heavily In mining lands. and
an lshpeming representative as authority
for the statement the trust will have an
ore supply sufficient for 100 years before it
ceases its efforts in that direction,
On this, the Marquette, range. the steel
trust has the Lake Superior mines. the
Regent group, the Hartford and numerous
undeveloped but acknowledged valuable
tracts. Next to the trust, the Cleveland
Cliffs company is the largest producer on
the range, and between the two there is a
close business relationship. Other mines
are the Lake Angelina, Champion and Re-
public but their output is small COM
pared with that of the trust properties
On the Menominee range, the United
STo Zoe rnr,fr role 1, I,,,1J
production: 1t owns the big Chaplin mine
and the Aragon. Iron River and several
smaller properties, aside from much un-
developed lands and half interest in the
large Pewabic property. The output on
the Gogebic range is also practically dom-
mated by the trust Its most important
holdings there are the Norle and Tilden
mines. which are among the largest in the
Lake Superior district and still have many
million tons OF ore In sight. =,
On the Mesaba range, the particular
stronghold of the trust. the company owns
On controls majority Of the best mines
and in addition possesses many thousands
of acres of land as yet undeveloped but
known to be undertake by large and valu-
able deposits of high grade ore. The
Oliver Mining company. as the ore produc-
ing branch OF the trust is known, is the
largest employer of labor in the Lake SUI
perior district 1t pays the best wages
and treats its men with unusual con-
sideration.
MARQUETTE, MICH.--An important
find Of iron ore has been made by the
Breitung Mining company at it's Hema title
property at Negaunee that assures the de-
velopment Of a mine which will take rank
with the largest producers on the range.
Recently diamond drill struck body of
oTe at depth of but twenty-five feet
then encountered rock which was found
400 feet in thickness and again struck ore.
The drill at present has passed through
over 200 feet of solid ore In the latest body
cut with the end of the deposit not yet in
sight. A shaft will be started at once to
develop the property and convert it into
producer. - -
MENoMINEE, MlCH.-It is understood
the Edward Hines Lumber company is
again after the stock of the n. Ludington
and Fl. Witbeck companies for next sea-
son. 1t is also said that Francis Beidler
will probably contract for the cut of the
Hamilton & Merryman company.-The
,i,,,o -