The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-12-30

saba range, in the early zoos, the steel
men were concerning themselves with
turning out and selling the finished
product rather than with the sources
Of supply. These latter appeaf to have
been taken for granted. So that it
TRANSFERRED when the Merritts, Chases,
David T. Adams and the other men
who explored the Mesaba range came
upon the certain knowledge that they
had found an enormous ore deposit, the
steel world was not disturbed in pro-
portion to the Importance of the dis
covery. Duluth was shaken to the
depths of it's foundations in the rock;
Pittsburg paid no attention. During
period Of two years after the discov-
cry of what the explorers were con-
WINGED was merchantable ore, the fur
mace men held aloof from the range.
The men who had the money to develop
the mines did not manifest any keen
anxiety to help the prospectors realize
their dreams Of wealth. And some of
the explorers were afraid to tell of the
extent Of their discoveries, even when
it had been shown by Captain Bar
rows, in his trials made at the Che
mango furnace, that the Mesaba ore
could be successfully treated. D. T.
Adams said to the writer the other
day: IT,.
"We are actually afraid that we had
found too much ore; that the vast ex-
tent Of the deposits that are being
found would so cheaper iron ore that
it would lose it's commercial value.
But I don't think that any one of us
stopped working on that. account, and
we were all certain that the ore was
merchantable.
With the assurance that mines only
need to be discovered to be sold, ex-
ploration was carried on at rate that
very soon made the range limitations
well known. Companies and individ-
uals engaged in the explorations, for no
great amount of capital was necessary.
At various periods representatives of
large interests were ready to buy for
the big companies. If man found a
deposit worth while it was certain to
bring him from 21a to cents per ton
of ore for discovery alone. A deposit
worth while would be pretty certain
to show up a million tons, and $4,000
the price paid. With this sort of slim
illus exploration did not halt and
very large percentage Of the total de-
post on the range, Of what is now
held to be merchantable ore was To-
Gated within the first few years
though the fact that the resources of
the deposit are not exhausted has
been proved during the past few
months, T. D. Adams having located
an ore body containing perhaps 100000
900 tons, and NJ. c. Fay one of 5,00O,-
600 tons this fall
!. !. !. -
Carnegie, the heart and soul Of steel
enterprises in those days, is said to
have been adverse to going into the
Minnesota range. He was interested
by Henry W. Oliver, with whom he
was associated, and who came into con-
troll of big group Of mines on the
Mesaba. r.
Oliver was an enthusiast. What
ever he went into he went into vigor-
ously. When he concluded that the
Mesaba was one Of the great ore fields
Of the world, he proceeded to convince
the Scotchman Of the fact. Carnegie
would not listen. He was fairly beset
by Oliver. When he did get in he did
not stand for halfway measures. His
advent is more important now than 1t
was then, for it ultimately had a great
deal to do with the consolidation Of
the interests that went to make up the
United States Steel corporation. There
was then plenty Of competition in the
buying Of mines, in the working of
mines and in the manipulation Of the
product. All of this is financial and in
dustrial history. The market was un-
stable. Carnegie was making millions
at a rate that staggered the world and
threatened disaster to those who were
opposed to him. His general attitude
was that the sources Of supply would