The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-05

Special to The Journal.
Duluth, Mimi, Dec. 5.--The winter
schedule of the United States Steel
corporation, SO far as its western in
terests lie, is fully in force. A study;
of this policy indicates much as to
the probable future course OF the
giant company.
Every ship of the Pittsburg Steam
ship fleet, belonging to the corpora
ton, is laid up for winter. The num-
Der of these vessels is 113, of which,
Al are barges and 70 steamships.
Among these vessels are the largest
and most powerful of all lake craft.
The boats that formerly belonged to
the American Steel & Wire company
are the largest of all the vessels and
those that entered the Pittsburg fleet
from the Rockefeller line are most
powerful. Some of these latter were
designed for pulling loads Of 10000
gross tons, aside from what they might
carry in their own hulls. No great
amount of repair work will be done
on any Of these ships this winter and
the maintenance account for the sea-
son will be small matter. Salaries
Of 200 men ceased when the ships
went into winter quarters.
Its Roads.
The Steel corporations two Mime
sofa railroads closed their ore busi-
\ SSS~SSAA
moved to this port 10,435,000 gross
tons of ore, for which they received
in freights $8,750,000.
During the winter they will haul to
this city and between points on their
lines not less than 00,000,00O feet Of
from 81 to $3.50 per 1000 feet. This,
with their heavy passenger business,
will give a large net return. They
have cut their force far under half the
summer schedule and will make but
few betterments and improvements
| during the winter.
Mines and Explorations.
At the Mines both in Minnesota and
Michigan, there has been sharp cur
enough on lower lake docks and at
| furnaces to keep it's, mills in operation
! till next September and there is no
call for large operations at mines this
| winter.
! Most of the underground properties
| in which ore can be mined at small
| cost are active now, but they are on
much less than a year ago. OF course
no such tonnage Of ore is coming up
as then, but it is not needed. The
mines are suffering no deterioration
and maintenance is kept at the highest
pitch of efficiency.
! lue SAploIdLlolI III lie" plopC1 CAGS
| has been generally stopped on all
! ranges. This is especially true of the
| Menominee range. Half score OF
! explorations continue on the Mesaba
and the corporation evidently stands
ready to take up for exploration or
purchase any proposition in ore that is
t tempting. This has been proved by
several recent purchases, at a time
when other buyers were afraid to
touch anything.
The Steel corporation, while it's ore
reserves are many times those of any
or Of all others combined, is still in.
vestigating new districts that are re.
ported from time to time, is buyine
ore when quantity and quality makes
purchase advisable, and is strength.
ening itself steadily. @
| Some Dividends May Be Passed.
The general opinion here amone
those best qualified to Judge Is thai
Steel common dividends may be passed
for some time to come, but that the
corporation will earn more than it!
preferred dividends for an indefinite
period. That the trust fully intends
to operate continuously it's mills i
very evident.
In its western operations the labo
question has not affected it, except ii
the case of the steamship end Their
will be renewal of trouble in thi
branch next month, but changes ma
be made before then that will snaootl
both Sides