The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-11-24
. 81 IRON ORE
ALMOST |. \ L| [ |. | ! ) }
Far Exceeds That Of Lake SUI
pcrior Region, ana It's EStens
HardlyGKnown Yet.
MAY FURNISH ENTIRE. TRADE
Sufficient for an Iron and. Steel
Industry Greater Than That Of
the Whole Country Now.

RALTIMORE. November e3.--In this
weeks issue OF the Manufacturers
Record Mr.. Edwin G. Eckel, formerly
chief of the iron-ore division Of tho.
United States Geological Survey. dis,
cussing the entrance OF the United
States. Steel Corporation into tho South,
says:
'.The acquisition of tho Tennessee
Company. marks a transition point not
only in the career of the Steel Cor
'pnration. but in the development OF the
Southern iron industry. Tho affairs Of
the Steel Corporation now become ma
tional in scope and its control OF im-
portant Southern properties must in
evitably /, Influence Its future policy.
The effect on the Southern iron situa-
ton will, however, be- moro Immediate
and more Impressive. TO the South
the entrance of the Steel Corporation
into the Alabama iron trade means
greater steadiness In market condi-
lions. more rapid development of fin-
ishing capacity and the consequent
rise of important secondary manufac-
lures. It also means-and this e fleet
will probably be the most INN edlate
and most strilsing-a rapid enhance
ment in values Of Southern iron-ore
| and coal lands"
Those Buying Will Hold.
Recalling the gradual absorption
which has been going on.for the last
| wear or two of iron-ore properties In
| the South, Mr.. Eckel says
Sew realize how far this purchas-
4 ing movement has been carried. and
| fewer still appreciate the fact that 1t
/ differs very markedly from previous
occurrences in this line. The point of
difference lies In the fact that the ro-
i cent land purchases have been made
| by, existing iron and steel companies,
\ or by. groups of capitalists amply able
to hold the properties acquired until
i time shows a substantial profit on the
1, Investment.
"Oro lands so held willnever again
4 reach the open market, but Will IN
i future figure simply as items In new
4 consultations OF extensions of exist
i ing companies"
And discussing the fact that some
i independent interests connected with
4 the Northern iron trade have become
slholders of Southern coal and iron-ore
lands, he says that this movement
Il will he greatly accelerated by the en-
4 trance of the Steel Gorporatlon. ano
\ that It's more prominent competitors
Il will endeaVor to strengthen their orc
PRESERVES as rapidly as possible"
south's Vast WcnlthBo OF Orc. !.
4 Commenting upon these statements Il
4 connection With the estimate OF Mr.
4 Eckcl,. just published by the United
States Geological Survey, that thf
! southern iron.ore reserve samo UNITS te
4 livery nearly l0,00o,Q00 900 tons, tlt
a Manufacturersy Record says *
"Accepting the est innate OF " Oo. ooo,'
i 1000 to 2,0O0,O 100000 tons at ayailabl,
Lake Superior ore, though 1t tss q
!. course. not impossible that larger sup
!. Iplies may be discovered in that re glon
slitsis6 interesting to remember that TIN
4 Lake superior Stl lstric n is lready min
Hing over 4 o. 0Q0, 900 Y tops IN ear, X q M
\ WITH MI rho INCREASING consumption .
Il iron whtel, iss To g. i'll ACE In this coNn
;BEtry and throng hont Nc ,sNyorld,s n ~
j, Ivory IN en- wi hin 70 est mat
Tint In ISIS thull ten y avs thu dis