Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1921-12-22
Missouri's Great Mine Romance Near End.
(St. Louis star.l

Is drawing TO an lnglorl0us couclusion
after having paid more than $1,000,
600 in dividends to small group Of
stockholders, mostly St. Louisans,
from 1S45 to 1906. 1t is that of the
time famous mines of Iron
Mountain, situated in the south west
ern part of st. Francois county, 80
miles from st. Louis. The enterprise,
which was carried on upon gran
doise scale, was thrown upon the
rocks of failure, not by depletion OF
it's ore bodies, which in former days,
were supposed to be the largest or
earth and averaged as high as 64 per
cent in ore content, but by economic,
forces. It could not meet competi-
tion OF Michigan mines.
The American Iron Mountain Com
pany was incorporated in 1845 by
Pierre Ohouteau. his sister, Julia
Mafitt, Edwin Harrison and Felix
and Jules Vale. They bought an old
Spanish land grant, known as the
Joseph Pratte grant, with the famous
old Iron Mountain as Its geographical
center.
In 1869 the company was reorganiz-'
ed as the Iron Mountain Company by
Charles P. Chouteau, son of the origi-
nal investor, James Harrison, Jules
Vale, Julia Mafit, Felix Vale and
Henry Belin, and Incorporated for
$3, 100000.
After the reorganization the mine
was worked vigorously, and up to
1906, when the company was dissolv-
ed, had yielded three and half mil
lion tons of ore.
The company always was a close
corporation. The original half-dozen
incorporators are now represented
by 150 of their descendants. Only a
few shares have passed into other
hands. I
In the Office of the Iron Mountain
Company in the Security Building can
| be seen the desk, 127 years old, on
which Pierre Chouteau transacted the
business of the concern. BY the
terms of his will, this magnificent
piece of furniture, made of solid
mahogany, becomes the property of
the eldest grandchild of the family.
1t now is in possession of Thomas s.
Maf1tt. The Iron Mountain Railroad,
now part of tie Missouri Pacific sys-
EN-, was named after the mines, The
town of Iron Mountain was at one
time the largest and most prosperous
on the road, outside Of st. Louis, hav-
ing population of 5000 with
churches, schools, hotels, stores and
homes of officials and mine employees.
By 1905 stiff competition had caus-
ed the value of the holdings of the
Iron Mountain Company to dwindle
from $3,6OO,OOO to $275,O0O. 1t was
decided to suspend operations at the
mines and convert the remaining as
sets into money for distribution
among the stockholders. Another
year, ssys Montague Lyon, an attor-
ney, who is the sole surviving trustee
of the corporation, will see the last of
the granite lands belonging to the
company disposed Of and the Iron
Mountain company will have passed
into history, unless new mining
method comes to it's rescue.
Among old st. Louis families still
receiving dividends are the Turner's,
Wales, Steedmans, Van Blarcoms and
Harrisons. Isabel Vale Hope-Nel-
son, who was pronounced. by the
former Mrs. w. X. Vanderbilt to be
the most beautiful woman in Ameri-
ca, is q descendant OF Jules Vale,
who was one Of the founders OF the
original company.
Few sections of the country have q
more interesting mining history than
Iron Mountain. Not far distant is the
famous old mine La Motto, probably
the oldest lead mine west of tae Mis-
sissippi River. In the same county,
all developed within the last thirty
years, are some of the largest lead
mines in the world. One company
alone pays more thana quarter of q
million dollars tax every year.
| In 1854 there was built to the Iron
Mountain mines what was known ss
the Plank Road, still called by that
name. Probably there was no other
road like it inthe state, for from Iron
Mountain 10 Pennington, about II
miles, and to Valley Forge and Ste
, Genevieve, this road was made by
I placing three-inch oak timbers close
together and forming solid surfaced
road. IT was AZ miles long and. be-
!, ginning at ste. Genevieve, every
) mile was marked.