The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1906-10-19

tion will supply it several generations
But the past has shown that iron or
consumption in the United States Ina
tripled every decade.
Under this deal the price of ore il
the ground is "a cents ton, gradual
ly increasing until, at the expiration
of say so years. it will be sl,224. Tn
average rate now paid on the Mesab;
range is about 80 cents. Mr.. Hill
could not have secured such barga il
had his position been one of less com
manding independence. The corpora
tion not only desired his ore but desir
ed more strongly that no one else
should have it. There is little profit
at present, at least, in ore in the
ground at this price.
Minnesota's proportion of total out
put of the United States will materi
ally increase. 1t is now more than
80 per cent and the percentage is
growing yearly. The commanding
position of the Mesaba range was
never so thoroughly appreciated as
now. OF the 36,O0000O tons to be
shipped this year, 27,OOO,OOO will come
from Minnesota mines. Next years
total may be 4O,OO0.00O and Mime
sofas share will be IS per cent of that.
Certain figures published in New
|
York as TO relative holdings of Mes
aba range ores by the various steel
making interests, are quite incorrect.
Naturally it is impossible to state
anything like close figures, for none
of the owners of ore lands are any too
willing to state their holdings. and in
the second place none of the larger
owners have correct idea of what
they may own. This is especially true
of the largest ones, whose holdings
include immense tracts of undevel-
oped lands upon the iron ore range.
AS to the lands turned over to the
steel corporation by the Great North
ern, it must not be forgotten that
most of the developed mines owned
by the road are not in this deal The
Stevenson and Mahoning are referred
to in New York as the chief portion
of the Hill lands to 60 in, but neither
Of them can do so. 1t is true that
the steel corporation owns a 80 per
cent interest in Mahoning, but the
new deal has no effect on this. One
cannot figure more Shan $4,000, 900 or
loo, 900, 900 tons Of Hill ores which
have been so far proved that they can
be measured up, that are part of
this new deal.
The Great Northern has, however.
owned on the Mesaba range, about
81, 500 acres of land, of which some
20. 600 acres Is on the known ore bear
ing formation. Much of the remain
ing land may contain ore, for it is in
general limits of the formation. OF
the 1860 acres held by the Great
Northern on the proved formation, it
owns in fee 1850 acres, holds leases
from the state school and other funds
to 2,24o acres and has private leases to
the rest. Most of this land is west
and southwest of Hibbing and there
is some as far east as the westerly part
of township 5S-17. Nearly the entire
ore bearing formation in township
57-21, aside from the United States
Steel holdings close to Hibbing, are
Great Northern, aud all through the
towns directly west of there, for 10
miles or more, its holdings are pre-
dominating, In 1928 it holds a maj
ority of the formation, and with the
Steel Corporation, the Cleveland Cliffs
Iron company and few smaller own
ers, controls practically all. In 1924
and %, the steel corporation, through
it's purchases from Messrs, Congdon
and Hartley and their Canisteo COM
pany, fully detailed year ago, is the
majority owner, but the Great North
ern through the Walker lands, the
Davis and other timber tracts, is a
fair second, Nobody else is Sin it" in
these towns.
All these western townships, from
Hibbing to the west side Of 55-25. OF
to the Mississippi river, are known tC
contain a great tonnage. while the
larger portion of the lands has not
yet been explored at all thoroughly.
1t is on these lands that the steel cor
poration is preparing for large min
ing business,
In the New York gossip John NJ
Longyear, formerly of Marquette an6
now of Brookline, Mass, is giver
credit for personal holdings of 10000,
600 tons. This is very inaccurate
Mr.. LongYear, 10 conjunction will
Russell NJ. Bennett, of Minneapolis
and the Pillsbury estate, also of Min
neapolis, the latter holding an undi
yided one-half and Messrs. Longyeal
| md Donnott ooob an nndividad opa