The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1903-01-10
NOTHING TO 1T.
CorriSAn Mckinney a CO are not
selling ov'.

selling ON.
Every few weeks a report comes out
In the newspapers that the Corrigan-
hcKinnay mines are to pass into the
possession OF the Steel company. II
the Information which we haze re-.
oeived from reliable sources signifies
anythi.g.yit 10 that these rnmors are
without the slightest foundation. Mr..
Corrigan will not part with his mi nes
It 10 stated that, some time ago. the
matter Was brought 10 Mr.. Corrigan
and he WAS asked 10 name figure at
which he would part with his holdings.
His reply was that he iss in the
miniag business to stay and thai under
no oonslleraicn will he part with
his noldings This satisfied the
intending purchaser that he meant
business and no further attempts have
been made to purchase the Corrigan-
Mckinney mines
In this connection We are able to
state that the Corrigan- Mckinney in
ter SITS were rever il sounder finar cial
condition than The close of the year
time when this company had a NAM
moth load upon it's shoulders On the
Mesabi its principal property, the
Commodore, was In bad shape. physi-
vally. from poor mining ma agcments
The whole property had to be retimber-
ed 80 as to eaten up the threatening
parts Added to this was the burden
of royalty controversy that, later.
closed the property for two years. The
company had. Notwithstanding the
phoo hooing Of the beet informed on
the Mesabi, gose into the woods at the
extreme western end OF the range and
purchased what later proved its savior.
the gaint Stevenson. This purchase
entailed an outlay in stripping that
would Lave qnailed the heart OF many
a man. but Mr.. Corrigan tool re-
s,lutely TO his guns aud waded into
the proposition in way that brought
him, not only success in com mercial
WAY, but immense financial profit.
In the Crystal Falls district where
the major portion of its holdings were
at that time The only property tlat was
bringing the company any money was
the rystal Falls. At the Great West
ern It WIS buidened with the task OF
sinking new SHAFT eco fee part ~
il through treacherous overburden
of uuicksand, aud the installation OF a
complete new equipment of machinery.
At the Lamont the working shaft had
caved and new shaft had to be sunk
500 feet in order to reopen the mine
At'the Dunn a shaft had To be sunk
500 feet 10 reopen the property. The
Tobin, an u,Jdeveloped property, had e.
be Developed by the sinking ot sneft
200 feet and the exploring of the pro
perty. The Armenia. an absndvoed
propersg. had TO be re-clsiu ed by the
sinking af u new shaft $50 feet and
the execrfrion OF an immense amount
OF dead work.
On the Gogebic it's principal bsiding
was the old Colby which was htte
more tEhan scram. It's other pro-
perties there were of little or mo- ser
vice ia the way of returns
ThHs was the condition Of affairs
that confronted tlis concern less than
two years ago The Prosecutimn 'of
all Of tshis work required an immense
outlay of mUney The money was
obtained not, as is currently under
stood. from the United States Steel
company. though. and orders given to
rush work on the properties from
which returns could SOONEST be had.
The results are wonderful. 1he
Stevenson. whicR was looked upon as An
expensive property and one of doubtful
value. has made over "A million dollars
alone for the company the past year
and the big loan that was exgotiated
IL discounted. The Tobin has turned
ont to be very large and valuable
property. The Armenia IL rapidly
coming to the front and is one of the
best of our Crystal Falls mine The
work at the Lamont is about complet-
ed and this property is proving better
than was anticipated. The Great
Western has not yet got its Swing
but the wafk Of re-opening and equip
ping il IL completed and 1t will be- the
leading producer in the Crystal Fails
district next year The only burd' n on