The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1913-03-22
REPORTED THAT DEAL FOR NORTH
HALF HAS GONE THROUGH
Wit STRIP A PORTION OF IT
Drills Are Now Blocking Out The Ore
Body For rs Division Concrete
Shaft on the Program

4 Co. have about concluded the nsgo-
tiations that they have had on fr a
long time for the acquisition OF the
Longyear property in Mastodon town.
ship. The report is that only the north
half of the ore body has been taken
over and this theory would seem to be
+ the logical one for the r,ason that the
r.. j. Longyear drills are now employ
ed IN blocking ont the ore along tine
north run of the ore body by line OF
holes a short distance north Of the OK.
ploring holes and parallel to them.
This is interpreted as a blocking pro.
cess.
The theory is that the north half is
10 be operated by p. NJ. a. Go. and the
south half by the Longyear people
themselves.
The Diamond Drill sought to verify
this news item last Thursday by an in
terview with Mr. Lawrence, superin-
tendent for the p. M. people on the
Menominee range. Mr. Lawrence
stated that he had no information 10
give ont one way or the other that the
matter is one which is not handled by
him and OF which he has neither the
information nor the authority to say
anything about Asked III negotiations
have not been about closed Mr.. Law
renee said that he didn't know and re-
ferred us to Geo Rollin of the Long
year people whom ne said ought to
have the informal on if there was any
10 give Mr.. Rollin had none 10 give.
It is known positively that negotia.
tions have been on between these two
interests for long time and that as
late as last week Mr.. Munger and Mr..
Mather were on the range and that
they went from here TO Chicago IL is
supposed that the matter was definitely
fixed one way or the otner at Chicago
this week.
Our information further states that
the royalty figure is fixed at 55cents
per ton, reduction Of l0.cents from
the latest reported figures obtainable
IL is also known that the terms of
the lease which the Longyear people
have from the KeweeBaw people calls
for heavy ground rent per year
80 IL is not probable that any Of the
property will remain idle any great
length OF time.
The reports further state that should
the north half OF the property pass INTO
the hands of the Pickands. Mather
people that they will strip portion OF
the ore and that concrete shaft will
be SUNK to open up the deeper surface
stuff This stripping story seems TO
tab up with the north half rumor
from the fact that that part of the pro.
perty shows favorable stripping pro
position.
This branching out OF the Pickands,
Mather people is wondered at by some.
because OF the large bodies OF ore held
by 10 In the Stamhaugh district and
the total withdrawal of this. concern
from the exploratory field for the past
four or FIVE years.
This return is explained 10y "a new
combination which was made by the
pickands people about the first of the
year with big furnace interest in the
OHIO field which had practically no ore
supply. The ore supply of the r. NJ.
people already held ie tied up 10 the
Lackawana inrnace interests which
owns an nalf interest in the Verona
mining company. the big end Jf the p
M. mining organization. The otner
half Is already hypothicatcd 60 the fur
mace interests OF the Pickands, Mather
a. Co. with the exception Of a small
market ore. mainly froui the Hemlock
Mining 20.
spei : ing Of the Hemlock, that ore is
interesting Ina this connection hecanse
Of the Amasa-Porter property OF the
Longyear people and its probable ac-
quiAition by .he Pickands. Mather
people. The Amasa- Porter produces
an ore worry similar 10 the Hemlock ore.
The Hemlock mine is at present on its
last legs, 80 to speak, The pickands
people have worked mp q trade ON
HemlocK ore that must bs supplied and
about the only property from which
any supply u u conid be got as far ~
is known at the present time is thc
Amasa Porter property. The Warner
Is being explored but there IL no 49,
supance from the present outlook thai
any mine will be developed there