The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-02-27
LEASES OF IRON ORE
LAND GO LIKE
HOT CAKES
@ ~
Since January goth, 267 Have
Been Taken Out, Thereby
Enriching the State Treas
ury by $1,000 Mime
apolis Man Secures 80 of
Them.

On the theory that the Mesaba range
ore find is to- be duplicated, in the
Highland range, the treasury of the
state is $1,000 richer than 1t was a
month ago, and 267 leases or options
on mineral lands have been taken out
by three-score of persons.
Early last winter Malcolm Mcleod,
of Two Harbors, started to dig a well
on his claim near Highland, about
twelve miles north of Two Harbors.
The digging Of the we'll had not pro-
ceeded very far when unmistakable
signs Of iron ore were encountered.
Mcleod was not slow to grasp the
situation and he had samples of the
find assayed. Word was at once pass
ed along the line and the wise ones
started in to secure leases from the
state
Since Jan. 20, 1908, when the first
lease was applied for, the state auditor
has issued 267 leases. The maximum
territory covered by a mineral lease
under the lawsis 100 acres, and while
all of the options issued are not for
the maximum number Of acres, some
thing like 10000 acres are included in
the leases.
is included in tract forty miles in
length and twelve miles in width. The
first find of ore being at Highland, the
leases first taken out extend northeast
from that point about twenty miles.
Since the find at Highland another
find was reported near Albert station
on the Duluth, Missabe & Northern
road, and Immediately this section was
pounced upon and the leases issued by
the state cover a strip twenty five
miles running northeast from Albert.
Tests Are Made.
The prospectors and men, who are
considered experts in iron mining,
point out that line drawn northeast
from Albert to Highland will be found
to run practically parallel with the
Mesaba range. Test pits are being
sunk by the owners and lessees wher-
ever possible and samples Of ore
which, it is claimed, run from 35 to
so per cent. have been secured. The
extent of the deposits, of course. can
not be determined until drills are
brought into use. as water is usually
encountered at a depth of sixteen to
twenty feet. 20
yesterday secured from the state audi
tor ninety leases, and paid into the
state treasury $2,250 in cash This
transaction broke the record so far as
the granting of mineral leases to a
single individual is concerned.
Among those who have taken out
leases since Jan. % are number Of
state officials and several members of
10 ~ II =,
st. Louis County bank at Duluth Sc
cured twenty-five leases for parties
named Swift. Sam Fullerton, execu-
tive agent Of the state game and fish
commission, was early in the game
and secured fifteen. w. B. Joyce and
w. S. McCurdy, Of st. Paul, have
formed a partnership and between
them have secured fifty-one leases,
twelve Of which Mr.. McCurdy secured
yesterday. J. J. McAuIiffe, of Duluth,
has ten, and F. L. Ryan and George
E. Gibson. of the same city, fifteen
each. The other fifty-odd leases have
been taken out by parties who expect
to become millionaires within a few
months and are willing to pay $25 for
a chance to become such.
Lessee Allowed Year to Explore.
Under the law governing the leasing
of mineral lands the $25 paid gives the
lessee an option for one year to ex-
plore the tract. Before the lease has
expired the lessee, if he desires to,
can, upon the payment of 500, secure
a contract for fifty years at the rate
Of 500 per year, with the proviso thar
upon each ton of ore mined, the state
shall be paid a royalty Of 25 cents a
ton.
While number of the persons who
have taken out leases are confident
that they have a fortune in their grasp,
others are not so optimistic. One Of
the state officials who invested $25 in
a lease in discussing the venture yes
terday, said:
"Of course it is something like buy
ing lottery ticket and just about as
remunerative. You may strike it right
and if you do you can sell out to some
one of the others who have plenty of
money to operate the property. If you
don't make a strike. you are out only
$25 and 1t is worth that amount to
feel that there is a possibility of be-
coming rich inside of a year"
The records Of the state auditor
show that in 1901 246 mineral leases
were issued In 1902 241 were issued.