The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1903-10-31

Cusdy nins Il slosd. isttias oss la
This 10 not . net loss Of - many msn
- sppssrs. for many ere fading work
- other mines. and most win b ON
ployed near by
Lieutenant Governor A. Maitland of
Michigan. general manager OF the Re-
public Iron q Steel company's mines
In the lake region, was in the city
yesterday, on his way from the Mesaba
range TO his home in Negaunee. says
that the forces at Republic Iron * Steel
mines will be cut about so per cent
the present fall and coming winter.
In regard to the curtailment of pro-
duction at the underground mines Of
the company he said
1--WE have considerable ore in stock
pile that will not be shipped this sea-
SOD, and II Is proposed 20 reduce the
mine forces about ne-half The under
ground mines of the Republic Iron &
Steel company in Minnesota are the
Franklin, Union and Bessemer at Vir-
ignia and the Petit at Mckinley. 1t
is possible that the Union mine may
not be active this winter. The night
shifts at the mines will be dispensed
with and the day forces only employ
ed. :"
Most of the big open pit properties
on the Measba will close down about
Nov. 1. The Mahoning and Stevenson,
among others, are scheduled TO quit
then. The Biwabik will be practically
through shipping at that date also, but
it may take until the 10Th TO get The
seasons work entirely cleaned up.
Tho Republic Iron g. Steel company
is one Of the large independent iron
and steel concerns. and the fact thai
only half as many men as usual will
be employed this winter in the Frank
lin. Union and Bessemer will be IN
welcome news for Virginia. This
town will not be seriously affected,
however, for the new railroad. new
sswmill. and rather extensive logginl
operations in that vicinity are doinl
more TO hold Virginia up than tn,
mines. In short, the big benefits ;,
be derived from mining at virgins
are yet to come. Enterprise
Pickands, Mather & Co.. who owl
numerous iron mines on the Mesaba
are also curtailing production and will
not employ as many men this winte
as last winter.
The United States Steel corporation
hopes to sell in foreign markets mex
year at least 500, 600, 600 of iron arc
steel
In the last fiscal year said ~
official in an interview at New York
Eve were able to sell In the world
markets steel and its manufactures d,
the value of SOC. Ga. 4G1 at the sam,
time we imported iron and steel valu
ed at s5t.GlI3t2 SO that our foreign
trade in iron and steel actually wa
Sl4 S53, 100.
Next year we ought to be able &
increase the total sales for the Unitet
States to at least Sll5, 0OO 900. Thu
would bring our export trade up &
that of 1900, when we sent abroa'
Sl20, 913, 54s, and that of 1901 whei
our total exports were 1T, $40, 800.
I'VE ought next year to be able Z
cut down our imports of iron and stee
to the volume of 1900, when W
brought in but 500, 47s, 925, or to 1901
when the imports were only sl7, s74,
700. This would make the worl
r balance on steel and iron stand ap
proximately 800, 00O 900 in our favor
, and would serve TO rehabilitate on
foreign balance, which mas suffers
, severely while we we're consuming
iron and steel beyond the capacity o
our mills to supply. Mining Journal
! Twenty five years is an estimat
! placed on the time In which the irol
ore controlled by the United State
Steel Corporation shall have all beef
consumed. On a basis of 200, 900, 90
tons. which is the popular estimst
OF steel corporation ore reserves, SOM
statisticians who pretend to be con
sentative, have figured that they will
have been consumed at the end o
seventeen years. IL careful observer
figure that these reserves are to las
only seventeen years, then quarter
OF a century cannot hut no n Hhara