The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-02-27
ORES WILL ADVANCE
Standards Will Be Worth rs Cents
and Mesabas 80 Cents More
Ton.
The Diferential Against the Latter
Will Probably Be Completely
Wiped Out.
Special to The journal.

Special to The Journal.
Duluth. Mimi, Feb. 27.--It is practically
settled by the ore mining companies of
the lake region, outside the United States
Steel Corporation, that the price Of stand
ard ores for the coming season will be %
cents more on old range properties and so
cents more on Mesaba ores than last year,
that Is. standard old range Bessemer will
bring 1870 a ton and standard Mesaba
Bessemer 81. This is preliminary to a
complete wiping out of the differential
that has existed against Mesaba ore since
that range was first opened, differential
that never had any reason for existence
aside from the necessities of weak Mesaba
producers.
Now there are no weak producers on
that range. There will always be slight
difference in price between coarse and fine
and dust-like ores. and as the Mesaba
contains much of the latter variety it will
sell at lower price than old range stand
ards, but not on the amount of iron ton
will make; based on that there will be
nothing between the ores.
There will be a large profit to Mesaba
range mining companies the coming sea-
son. as the cost of mining will not be
anything like this advance in price. But
the advance in cost Is not even now equal
to the advance In the price Of iron, so that
the miners are getting but part of their
share Of the improvement that has come
to the trade. For years they have been
forced to pay higher wages and all sup
plies have cost 10 per cent more, but
they have not been able to advance their
selling prices. Now they VIII come in for
the benefit they should have had the past
year or two.
What the Advance Means
The advance will make the value of iron
mined this year in the Lake Superior re-
giOn foot up to about $l10000,000, deliv-
cred at lower lake ports. The lake vessel
interests will get about $4,000 900 more
this year than last on an equivalent
movement of ore. on account Of an ad-
vance they will be able to secure. In
ALL lake ships will receive for transporting
the ore to be mined this year about $23,-
100000 and upper lake roads about SO. ooo,-
600 These figures are mere approxima-
tions, based on the probable movement
from the different ranges and at prices
that will probably be maintained but they
serve to show the enormous values enter
ing into this trade and the Importance 1t
is to the nations commerce.
The Commodore mine, Mesaba range,
has been pumped out at the rate of 5000
gallons a minute. and is to be entered
and rebuilt. During the years it has been
idle. owing to dispute as to royalties,
1t has caved In evry badly and will not
be large shipper the coming season.
Leading Independent Producers.
corrigan. Mckinney & Co. will open two
mines the western Mesaba this
year They are making large mines OF
their Tobin and Armenia, at Crystal Falls
and are developing the Great Western into
q large property. They will ship this
year more than any other independent
producer.
Under the terms of the j. j. Hill stee
deal, now pending, the former is assured
~ +rof fc for fia ORC road that will lllti
mately reach the vast total Of 10000, 00'
gross tons annually. It will be as mucf
more than this as Mr.. Hill is able to make
1t by continuing his policy Of taking mines
for their traffic, and he is still reaching
his trackage and making cutoff line
where possible, in order to lessen by
few miles the haul to Lake Superior. HI
haul Is, however, nineteen miles longe
than it need be, and that much longer thai
competing roads between the same mine
and the lake, on account Of the fact tina
his ore docks are not at the most favora
Bile point But his investment Is so grea
at the present terminals that it canno
be changed, and what he loses in distanc
he partly makes up In grades. lie Is put
ting $4,000 into an additional ore-shiI
ping pier for use the coming season.
Hlbbtng District.
The oliver Iron Mining company foun
ore at a depth OF 800 feet near Lake r uiii'
Menominee range, where its managel
set a. drill on surface some time ago. In
possibilities are for a large find.
More ore is being found In the Hi
bling DISTRICT, Mesaba range, and that in
mediate section is proving the most Pre-
ductive formation in the known world,
far as any ore Is concerned.
The Buffalo and Susquehanna Iron con
pany. which Is erecting furnaces at Bu
falo. is sinking a shaft and building
shafthouse at Hibbing on the iron 0,
property it recently bought Mining W.
be carried on actively this year. If
same company is to open a second mir
near Mountain Iron, to be called the Irs
uuois, and will sink shaft there In
summer.
If the defendants do not take an appe
70 the supreme court, the Oliver Ire
Mining company will commence explore
tons at once on the Mueller tract.
No. / shaft Of the Negaunee mine IS
~ lfNynys