The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1910-06-04
Steel Trust
Gets An Option.
Michigan Iron 6 Land Co. Gives Op.
ton to Steel Trust Which Includes
Abou. zoo, 900 Acres OF Bar
aga County Lands.

fecting Baraga county timber and
mineral lands, that has ever been
carried through in the state, which
probably means more to this county
than can be imagined and which will
open up and develop the mineral
wealth. By it the Oliver Iron Mining
company, the mining subsidiary of the
United States Steel corporation, takes
long term options on the great upper
peninsula holdings of the Michigan Iron
& Land company.
There are two options, one covering
the standing timber on the company's
lands and the other covering the mineral
rights in control. The option on the
timber covers $40, 600 acres, and provides
for sale price of large proportions to
be paid if the Oliver Iron Mining COM
pany finds, by entering the lands, that
they run up to the estimates. The
option on mineral rights covers, in adj
dition to these over 800, 900 acres of land
which the Michigan Iron & Land COM
pdily loiuo III lcS ohhpiC. iii,VfV oSiSo
on which the company holds the mineral
rights, having disposed of the timber
and surface rights.
The option on the mineral rights runs
term of years. By the terms of the
agreement the Oliver Iron Mining COM
pany agrees to expend large sum an
nually for the period fixed to exploring
for mineral on the lands. On all ore
discovered and mined it is to pay a
stated royalty. Lands that it enters on
and decides not to mine are to revert
to the Michigan Iron & Land company.
The Oliver Iron Mining company will
at once put large force of landlookers
on the lands covered by the deal, and
the work of ascertaining the values
they carry in timber will be pushed
energetically. 1t is said that it will re-
quire the better part of year to give
the prospective purchaser all the time
it requires for this purpose.
That the option on the timber held
by the Oliver Iron Mining company will
be executed there is said to be prac-
tically no. doubt, as the estimates pre-
scented to the officials of the Oliver Iron
Mining company are stated by men
familiar with the Michigan Iron &
Land company's holdings to closely re-
present the timber wealth still left on
them. Also there is little doubt that
the Oliver Iron Mining company will
open permanent and large, producing
mines on the company's land consider
able acreages of which are already of
proved mineral value.
The closing of the options with the
Oliver Iron Mining company will great
ly Stimulate activity in exploration.
The work of the corporation on the
optioned lands will be attentively
watched, and lands adjoining promising
explorations should be in big demand.
The withdrawal of the company's
timber lands from the market will
doubtless be reflected in the timber
market. Heretofore jobbers have Sc
cured the right to cut these lands, and
much timber has been taken off them
annually. The Oliver Iron company
will, if the deal is closed, retain this
timber resource for its own purpose, in
pursuance of its policy of providing for
its future needs.
The Taylor Mine is located on North
west quarter of Section 8, Township 49
north Range 33 West. Ore was dis
covered as early as 1872, but no effects
were made at mining until 1878 when
Mr.. Morse and James DeCamp had a
gang of men at work sinking. shafts,
prosecuting and cleaning out the old
shaft made at the time of the discovery.
In 1880 John Skogbery, mining
captain, opened up the east shaft.
This work was started on the foot wall
side on the north and worked over to-
ward the hanging wall on the south, a
pocket sixty-6ve feet wide in its widest
place was found under stripping OF
six feet.
A shaft west of the old pit WHICH has
been worked out is down in ore 125
feet. The ore deposits at this place are
from forty to sixty feet in width.
One hundred and seventy five feet
further to the west and south shaft
has been sunk lat feet and is found to
be about thirty-six feet south of the
vein. The Taylor mine has been closed
down for number of years and while
local people having been trying to Sc
cure an option, they were never
successful. Some diamond drilling and
exploratory work was done severalyears
ago but nothing followed.
The Michigan Iron & Land company,