The Minneapolis journal., 1903-03-03
MINNESOTA
COOKS LONG HEAD.
How He Is Getting His Pine at Less
Than It Brings in the Open
Market.
Most Important Deal Ever Made in
White Timber-Wausau Men &
the Sellers. ie s @
Special to The Journal.

Special to Ihe journal G<es
Duluth. Mimi. March 3.--What is un-
doubtedly tile most important deal that
can ever be made in white pine timber in
the United States, probably larger deal
than has ever been made in that class
of stumpage. is being closed here. 1t in
wolves from S6.00o.o 900 to sS,000.o00. and
takes the biggest bunch Of virgin white
pine there is left in the United States.
Charles, F. Ruggles of Chicago and as
sociates together. with w. H. Cook and
others Of this city, are the buyers. and
pine men of Wausau, Wis. and asso-
ciates are the sellers. There are more
than 1000 ooO. 900 feet of standing pine of
good quality in the transaction. together
with the Duluth. Virginia & Rainy Lake
railway, which is now being built north
ward through the timber to the inter
national boundary 80 -.
Taking Up His Contracts.
Several years ago Mr.. Cook rounded
this timber up. got the Wausau people to
buy it at what is now seen to have been
a rdiculously low price, and took back
from them a contract to repurchase
within term Of years at more than twice
what they were paying. This contract
was given them as an inducement to lead
them to make the purchase. Now he has
secured the assistance Of Ruggles and
associates and is taking up his contracts
and buying back the timber at less than
it would bring on the open market. What
the original buyers insisted on as an
added guarantee to lead them to make
the investment is now proving a loss to
them of at least s2.OO0O0o.
Ruggles, Cook and associates Will now
push the railway to the Canadian line
and will market this timber, cutting it
for mills here and elsewhere. They are
building a mill at Virginia and will build
others, while they have contracted to
deliver many million feet annually to
mills Of others, some as far away as the
Mississippi river in Iowa. .@'
In addition to this vast quantity OF
white pine there enormous quantities
of spruce, for paper making. cedar and
tamarack. and hardwoods, the value OF
which it is impossible to estimate. With
their railway through this timber they
will control it. Already they have in
aud last week closed deal for nearly
$1,000. 900.
Few Sales Of Importance.
There have been few sales Of Importance
In. lumber this week, or for two weeks
past. Buyers are here In small mum
bers and the market is being lFt to it.
self. In the mean>ne there is no change
in price on any lines Of stock. The
situation is unchanged as to logging pros
poets. expectation of input, conditions o1
labor etc.
Most operators are very much pleased
with the winter conditions as to weather
and snow: they have no fault to find ex.
cept that there is too much snow for cheay
skidding. But hauling Is very good ane
bids fair to continue. and the general in
put of logs to this date is up to expecta.
tions all around. and in many cases is ex
ceeding them a trif1e. There has beef
not SO much difficulty with men as nat
been expected by many, though 1t is bat
enough.
Tln1bers for Mines.
Colvin & Robb are cutting pine this win
ter on contract to supply 700, 900 feet t.
the Fayal and Genoa mines, Of the Min
nesota Iron Company. for undergroun
tinlberng. This is expected to suppl
these two mines with timber enough fo
the coming year. including what was O
hand. They have about 100 men at wor
in camps near Skibo on this job and wi
make other shipments from the sam
place.
Large Spruce Deal.
The Fox River Paper company has tn
past few days picked up about 1000 acre
of spruce lands in towns 5S-10 and I
where the stand Of this timber is eS
cellent. It is the largest spruce deal eve
made in this region, and is indicative
what may be expected after a while. ]
addition to the pulp wood there is a gres
deal of tamarack and CEDAR suitable #
ties. etc. [-- -
q, The five winter mills i'm this city a,
cutting steadily, as are the three at Clt
quet Operations have begun on sever
of the summer mills in repairs and il,
provements for the coming summer, b.
not many Of them will need anything mo-
than the usual spring refitting. Over
Iron River the Alexander & Edgar con
pany has about so men at work at IL
mill and in the woods and in new COZ
struction. is running the mill d.
and might and is bringing in logs
rail at a faster rate than for some tim
Some Heavy Cuts.
The Mesabi Southern road, belongil
to the Northern Lumber company,
very busy this winter, and will de1iv
BE on the ST. Louis river below Mounta
Iron is something like 20. 600, 900 feet of 10
before the breakup. 1t is employing thi
ty men in the woods. mostly at cam
to the north Of headquarters, which is
section S-5S-19. The road runs, in ma
line about twelve miles north from the
and is gradually being extended.
William OBrien is cutting this wint
for delivery at Cloouet, about 100000
feet and is employing about $50 me
Most of the work is for the Cloquet luz
Der companies.
Grain In Store.
There are about TO- 43o, 900 bushels
grain in store here, half wheat and h
flax, oats. rye and barley. Receipts q
fair and by the opening of nav1gati
ther will probably be 100000 bush
In store. ,.4s. Z r.. d. = =
Receipts of flax so far this crop Z
more than 1000, 900 bushels greater tn