The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1908-06-13
LOADING STOCKPILES
AT LOCAL MINES
ToBIN AND GREAT WESTERN LOAD
THREE DAYS ABOUT
ORE PRICES CUT FIFTY CENTS
Following the General Cut in Products
Of Iron and Neel,-lron Market
isQuiet

isQuiet
Loading stocked ore was commenced
40 the Tobin and Great Western mines
the first of the week and is being con-
tinued on a small scale the shovels
loading three days at one mine and
then switching to the other for the bal
ance of the week.
While the amount being loaded is not
such as to grow hysterical about, yet
il is sufficient, IL continued throughout
the year. to claen mp the docks and
provide work for the present forces at
these properties during the winter.
AT the Hollister the small pipe is
being loaded by means Of a car and a
"puffer' The pump has not,been put
in place yet so that no ore is going for
ward from the POCKET.
The Dunn is shipping its daily out
put but the big pile has not been at
tackled yet.
A general cut was made in iron and
steel at meeting OF the iron manu-
facturers last Tuesday. Following the
announcement OF the cut in the man
ufactured products cut in ore prices
Of 5O-cents per ton was announced.
TIE account Of the meeting as contain
ed in the daily news dispatches is
given AS follows:
Steel prices are 6nally down all along
the line. At the close OF an all-day
conference AZ the Railway Club atten-
ded by the leading steel manufacturers
OF the country. Chairman r. II. Gary
OF the United States Steel Corporation,
who also acted as chairman OF to-day g
announced that the following
price changes had been decided upon
Steel bilets reduced 81 from S9s 70
S25 per ton. Pittsourg
Structural steel and plates reduced
Sc perton from ST. 80 to 81 go per hun
dred weight Pittsburg
Merchant pipe reduced 81 per tor
Pittsburg
Lake Superior iron ore, reduced 20
cents per ton
Sheet bars reduced - per ton, from
500 10 $27. Pittsburg.
No change in the price Of sheet steel
OF of tin plate was made, as those pro
ducts were cut early in the year The
cut in steel bars from Si.60, Pittsburg,
or 81. 40 per ton, which was made last
week and was the forerunner of to-
days action. is still fresh in the minds
of the public. No mention was made
"a 60 the price ot steel rails They
were maintained at $3S during the de
preston Of l0O3-l0Oi. and IL is under
stood they will be held at that price
now Il was pointed out, however
that acceptance of the new speciiica-
tions as to quality and shape az the S2s
price will virtually mean reduction
of 81 to 81. as they provide for a higher
cost rail
While the meeting was harmonious
in broad sense il is Understood there
was considerable difference Of opinion
IA TO the extent Of reductions 10 be
mlde. Not few manufacturers fav-
ored cut Of 81 per ton in billets, to
$24. Pittsburg
The open market for billets has been
around S24 TO s25 for some time. 30
that o.days concession by the Oig
companies Is simply AN acknowledge
ment ON their part that they are will
ing tU meet the market. About
month ago sales Of billets as low as So
delivered. with 90 per cent freight
rate ($9l 40, Pittsburg) in lots as large
as 2. 600 tons were reported, and to-day
sales OF steel bars as low as. 81 "a per
hundredweight, or e. per ton under the
recently established official price level,
were made.
BY no means the least important OF
the items in the above announcement
was that rehting TO the price of iron
ore, which il marked down 80 cents
per ton after repeated official assertions
that last years schedule would stand
for the season of i00s-i9O9, which
opened on May l. Preceding by several
hours Tuesdays official statement, II
was learned from Pittsburg sources
that the Cleveland firm Of Corrigan,
Mckinney q Co., the largest producers
of Lake Superior ore outside the United
States Steel Corporation In this coun'
try. had reduced its price on ore 5'