The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-10-04
MILLIONAIRE "a TIMES
j. NJ Longyear Leases Ore Lands to
the Steel Trust.

Detroit, Oct. 4-Made "a times a mill
lionaire by a single stroke of the pen,
a Michigan man. hitherto unknown to
Wall street, suddenly has come into the
limeight on the financial circles of
New York and of the world.
This man is J. M. LOngyear. He is
the same, who, year ago, moved his
magnificent stone mansion from Mar
quette. Mich, because of taxes he said
were unjust, and set 1t up again in
Brookline. Mass. stone for stone, -eX-
actly as it had stood in the northern
Michigan city.
The immensely valuable iron ore
lands owned by him in the northern
peninsula, which for years he has re-
fused to sell, now have given him new
prominence. He has leased his hold
ings the deal being made in the Office
of J. P. Morgan & Co, by E H. Gary
representing the United States Steel
corporation.
The royalties from his lease to the
steel trust will bring Longyear and his
heirs 100000.
I.ongyear Waited for a Rise.
For years Longyear vas a prospector
in the rich iron ore lands Of the Lake
regin. He struck it rich, accumulat-
ing $1,000, 900 tons of iron ore. When the
trust entered the field there was
scramble fer the property, but Long
year, with patience and forethought
held on for still greater demand for
his holdings. He absolutely refused to
sell He could afford to wait Recent
" he entered into negotiations with
Mr.. Hill for the lease of their COM
bined holdings.
For months the deal had been slowly
reaching a climax. BY Fridays trans
actions in the office of Mr.. Morgan,
the former Marquette man is assured
one of the largest fortunes ever reap
ed from ore lands
Details of the deal by which the
cl1rh extensive 1d6ifion2l holdings
show that the Cambria Steel company
is the largest holder of ore lands in
the Northwest with the exception of
the steel trust 1t controls 81 600 600
Hill estimates his holdings at approx
mately 600, 100000 tons. OF this the
Northern Pacific owns 35.OO0.000 tons.
shipped Mansion 1 900 Miles.
No matter what prominence he may
attain in the financial world. Long
year always Will be remembered in the
west for the remarkable achievement
in taking apart his house, which cost
5000, 900 to erect, loading 1t on train
and Transporting it a thousand miles,
then putting it together, and present.
ing it as one of the most pretentious
mansions in Brookline. The feat was
accomplished IN June. 1903.
In 1880 Mr.. LOngyear. one time
mayor of Marquette, Mich. and then
reputed to be the richest man in this
state, had built the house of native
sandstone on the shores of Lake Afichi-
gan It was furnished with artistic
taste When he decided to pull up
stakes and move he bought a site on
the crest Of Fishers Hill, BrookIine.
Then he chartered 50 fiat cars. sum
rnoned an architect and corps of
builders and laborers and had his
house torn apart Every stone was Ia
belled and carefully protected against
chipping or breakage, and the whole
was shipped in two eonsignments to
Massachusetts,.
The reconstruction attracted the at
tention of builders throughout the
country. and when 1t was finished the
verdict was that It was handsomer and
a more symmetrical piece Of arehitec-
tI7re than it had been originally The
cost of transportation and the inn
provements in re-erection was about
ST., Coo