The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1905-11-17
SCHLESINGER'S DREAM
He Blazed the Trail for the Large
Steel Concerns of To-day.

Ferdinand Schlesinger. some fifteen
years ago easily the most prominent
figure in Like Superior iron mining
circles, again occupies prominent
position in the world of finance, says
the Iron Mountain Press:
In addition TO his mining interests,
which embrace the Newport, Bonnie
and other iron mines on the Gogebic
range, and gold mines mod Mexico
that yield rich returns that
he was accused of endeavoring TO un-
load upon his creditors-Mr. Schles-
niger is the handspring of the Mil
waukee Coke and Gas company,
which has just increased its capital
stock from 100000 to $1,000, 900.
Mr.. Schlesinger organized the COM
pany and is the ever active president.
The capital stock has been increased
for the purpose of doubling the capa.
city of the plant. The company now
has eighty coke ovens and has eighty
more in course of construction. When
all of the ovens are in commission
the company will have cokin g
capacity Of 1000 tons. When the
second SET of ovens is finished, anoth-
er will be started, bringing the num-
Der up to 240. il the conditions seem
favorable. The cost of the first eighty
ovens is said to have been about ST.
400, 900; of the second set. $l,200,000;
and the cost of the third set will be
about 81. 200 900. Associated with Mr..
Schlesinger in the enterprise are NJ.
A. Hanna & Co, Of Cleveland, and
Charles Ray, of Milwaukee. Fred G.
Woodbury., at one time mining engi-
neer at the Chaplin, is also associated
with Mr.. Schlesinger in his various
enterprises in the capacity of vice.
president and general manager.
In the iron business Mr.. Schlesinger
had the misfortune of being some
twenty years i'm advance of the times.
The wonderful success of the United
States Steel corporation, the Cleye-
land Cliffs Iron company, the Repub-
lie Iron & Steel company and kindred
organizations is ample evidence of the
truthfulness of this statement. When
overtaken by the panies Of 1890 and
1893 Mr.. Schlesinger. almost single
handed was building along the same
lines as the above named corporations.
He had acquired title to the, at that
time, largest and most valuable iron
mines in the Lake Superior region; he
was engaged in constructing line of
railway from his mines on the Memo
minee range to Escanaba, and por-
tion of that road is now being oper-
ated by the Chicago & Northwestern;
he had built a large ore, dock at Es-
canada; owned what was at that time
the largest fleet of ore carrying steam
ers on the great lakes: had acquired
extensive furnace interests, and was
branching out into The coke and coal
business.
But before Mr.. Schlesinger succeed
ed In getting his gigantic enterprises
firmly grounded, he was oyertaken by
the panic which followed the election
of Grover Cleveland to the presidency
and the disastrous declaration for
free trade. Then, too. the con-
ditions were not ripe, for such a stu
pendous concentration of industries
as Mr.. Schlesinger had in mind. lie
was, time has proven, twenty years
in advance of the times. Capital. in
stead of being sympathetic was badly
antagonistic. Instead Of having full
appreciation of the economies certain
to result from the amalgamatlon OF
the iron Interests as planned by Mr..
Schlesinger, he was looked upon as a
dreamer--as dangerous man. How
ever. the position assumed by him at
that time is reality today.