Rfa.rj.ua"
-A: ur.fi
RUKARD HURD
LIBRARY
OF THE
UNIVERSITY. OF CALIFORNIA.
Class
HURD'S IRON ORE MANUAL
Hurd's Iron Ore Manual
A
General Reference, Guide, Hand Book
OF THE
Lake Superior District
WITH
Values Based on 1911 Prices and Guarantees
at Lake Erie
Method of Determination
OF
Prices, Premiums and Penalties
Tables of Values
AND
Statistical Data
BY
RUKARD HURD, C. E.
Secretary Minnesota Tax Commission _
^ Of THE
UNIVERSITY
^ ^ OF
Price, $7.50
F. M. CATLIN, SALES AGENT
51O CAPITAL BANK BLOG.
ST. PAUL, MINN.
I til
_' BXCt »•'
•
COPYRIGHT 1911
BY RUKARD HURD
SYNDICATE PRINTING COMPANY
MINNEAPOLIS, MINN.
THIS WORK IS DEDICATED TO
MY DEAR WIFE
KATHERINE HATFIELD HURD
212350
TABLE OF CONTENTS
Page
Frontispiece — Map of Iron Ranges of Lake Superior Region
Introduction
Governing Factors 1
Iron Unit 1
Iron Unit Value 1
Base Unit Value 2
Basic Percentages, Prices and Base Unit Values 2
Determination of Natural and Dried Percentages 2
Lake Erie Prices 3
Valley Prices 3
Determination of Base Unit Values for 1911 3
Determination of 1911 Prices, Premiums and Penalties 3
(a) Prices for Standard Ores 3
(b) Prices for Over-Standard Ores — Premium 4
(c) Prices for Sub-Standard Ores — Penalty 4
Phosphorus Premium and Penalty 5
Additional Premiums or Penalty by Private Contract 5
Mathematical and Trade Calculating Decimals 5
Base Unit Value for Change in Price 5
Base Unit Value for Change in Price and of Natural Iron Base 5
Defination of Bessemer Ore 6
Decimal Multiple of 1911 for Determining New Prices 6
Old Range- Vermilion Bessemer —
Illustrative Schedule No. 1 8
Price Schedule No. 1 9
Mesaba Bessemer —
Illustrative Schedule No. 2 10
Price Schedule No. 2 11
Old Range- Vermilion Non-Bessemer—
Illustrative Schedule No. 3 12
Price Schedule No. 3 13
Mesaba Non-Bessemer —
Illustrative Schedule No. 4 14
Price Schedule No. 4 15
Phosphorus Value Table 16
Permanent Base Unit Value Schedule and Determining Decimal 17
Moisture Tables 18
Minnesota Tax Commission's Valuation of Iron Ore 20
Net Values, Cost of Production *»nd Delivery 25
Present Value of Iron Ore Royalties on Mineral Leases 29
Newly Created Wealth Through Mineral Value 29
Extent of Capital and Diversity of Ownership 29
Mineral Leases 29
Determining Valuation Factors 30
Present Value of Iron Ore Royalties on Mineral Leases — Continued Page
Rule for Determining Present Royalty Value 30
Total Royalty 30
Life of the Mine 30
Present Value of the Royalty 30
Illustrations 31
Determining Interest Rate and Factors 31
Table of Present Values, Quarterly 33
Table of Present Values, Annual 34
Prospecting, Mining and Ore Estimating 35
Prospecting for Iron Ore 35
Mining Methods 36
Open Pit 37
Milling 38
Underground 38
Ore Estimates 39
Mesaba Range 39
Western Mesaba Range, Special Report 40
Cuyuna Range, Special Report 41
Shipments by Mines — 1910, Prior and Total
Marquette Range 43
Menominee Range and Baraboo District 44
Gogebic Range 46
Mesaba Range 47
Vermilion Range 50
Shipments by Ranges 1855-1910 51
Prices of Iron Ore, Production and Prices of Pig Iron .... 1855-1910 52
Rail Freights, Mines to Upper Lake Ports 1855-1910 53
Vessel Freights to Lower Lake Ports 1855-1910 54
Shipments and Receipts by Ports 1905-1910 55
Lake Erie Stock Piles 1905-1910 56
Production of Iron Ore in United States 1907-1908 57
Imports of Iron Ore 1880-1910 57
Apparent Annual Consumption of Iron Ore in U. S 1889-1910 58
Production of Steel in United States 1860-1910 59
Production of Finished Steel and Iron in the U. S 1887-1909 60
Production of Coke in the U. S. and Rail Freight 1907-1908 61
Shipments and Prices of Connellsville Coke 1889-1909 61
Rail Freight on Iron Ore from Lower Lake Ports 1890-1910 62
Production and Price of Limestone for Furnace Flux and Rail Freight. . . 63
Charts of Pittsburgh Prices of Ore, Pig and Steel 1890-1910 64
Average Yearly Prices of Iron Ore at Various Points 66
Geology and Mineralogy Lake Superior Iron District with Map 67
Publications on Lake Superior Iron District 83
Iron Ore Reserves of United States 85
Tables of Iron Ore Values for 1911 at Lake Erie —
Old Range- Vermilion Bessemer 45%-61% inclusive 89
Mesaba Bessemer 45%-61 % inclusive 109
Old Range Vermilion Non-Bessemer . . . 45%-60% inclusive 129
Mesaba Non-Bessemer 45%-60% inclusive 147
Introduction
Mining engineering, exploration and drilling, outlining of ore bodies,
horizontal and vertical sectioning and cross-sectioning of the ore bodies and
of the intermediate layers of other material, showing results of innumerable
chemical analyses, have reached a high degree of efficiency. Many operators,
especially on the Mesaba Range, know in advance for years to come, the
exact grades of ores they can mine and ship, what tonnages to group and how
to raise to standard sub-grade ore.
Chemical analyses are so important that everywhere is found the ore
sampler — at drills for every five feet of drilling, in test pits, in open pits,
underground, at mine stock pile, in cars at mine, in cars at upper dock, in
vessel at upper dock, in vessel at lower dock, at lower dock stock pile, in
cars a.t lower dock, in cars at furnace, in stock pile at furnace — so vital is it
for the mine and furnace operators to have the most accurate information
of the ores to be reduced to metal.
What is Iron- ore worth? How is its value determined?
The ores of the Lake Superior District, Bessemer and non-Bessemer, of
the *Old Range, Vermilion and the Mesaba, while varying in some re-
spects, are generally similar as to contents, physical characteristics and struc-
ture. These conditions made it possible for producing and consuming inter-
ests** to agree and to establish on these ores a standardization of grades and
prices and providing premiums for over-standard and penalties for sub-stand-
ard ores, based upon metallurgical principles. A great economic achievement
was thereby realized. Mining and ore reduction could then proceed along
lines of business order, stability and permanency. The system as a whole
has given satisfaction to all concerned. Any defects appearing in the calcu-
lations, for the extremes of sub-standard values, and for over-standard values
made by using arbitrary premiums instead of units or parts of units, can by
agreement be corrected, To make the "basic system" consistent throughout
a re-classification of grades and prices is evidently necessary, as will ap-
pear from a study of net values herein considered.
The law of supply and demand fixes the price for standard ores of basic
values and the uniformity of the "basic system" places each furnace on an
equality in having to pay the same price for such standard ores. This equal-
ity should extend to the sub-standard ores. While the reduction of ores is not
a fixed science, and the cost varies according to furnace location, conditions
and management, there should be established a closely approximated uni-
form reduction cost and a scientific penalization that wiir give an actual
commercial value and a fair profit to present non-marketable ores.
In the absence of published explanation, the "basic system" has seemed
very intricate, confusing and mysterious to mining men generally, and all
along the line from mine to furnace, time and labor are consumed and wasted
in miscalculating values and misapplying premiums and penalties. Even ore
"The Marquette, Menominee and Gogebic iron ranges as a group have the
trade name, Old Range.
**The Lake Superior Ore Association organized January 14, 1905.
experts do not agree in their interpretations of the system, and many tables
in use show discrepancies. It has therefore been difficult to reconcile and
harmonize these differences.
Simple mathematical calculations can remove the confusion and make
the subject comprehensible. Nontechnical language has been used to
explain the various steps followed in formulating (1) A method for the
determination of prices, premiums and penalties; (2) a series of illustrative
mathematical schedules; (3) reference tables of iron ore values at Lake
Erie, for each percentage and fraction thereof covering all grades of stan-
dard iron ores of the Lake Superior district.
The owner and lessee of developed iron ores of known analyses may
see at a glance what his ore is worth and how to determine its possible
increase or decrease in value. The furnace man is able to know in like
manner what he will have to pay for ore under a wide range of prices and
of base unit values.
Time, weight, distance, measure, money, interest, discount, have all
been determined and reference tables constructed for use in calculations.
It is hoped that the tables here presented will prove valuable when iron
ore values are considered.
During the study of the iron ore situation considerable data had to be
prepared and many sources were consulted. The information was widely
scattered. Everything of known possible technical or historical worth has
been assembled, consolidated and incorporated in, or written for, this Iron
Ore Manual of the Lake Superior District. The general statistics are
introduced to show the connection and relation between the raw and
finished products. The desire is to furnish those interested, especially heads
of departments in general offices, mines and furnaces, a ready general refer-
ence, guide, hand-book on iron ore.
The iron ore districts of New York, New Jersey, Alabama, Tennessee
and Colorado, on account of their limited extent and production, ownership
by consuming interests and without a basic system of valuation of ores,
are not now considered.
Herein are given: Values and their determining method, Minnesota
taxation and its methods, shipments, prices, transportation, net values with
cost of production and delivery, rule for determining present values of iron
ore royalties, prices and production of pig iron, geology and mineralogy,
latest special reports, publications, concluding with the iron ore reserves
of tfie United States.
The information credited to the Iron Trade Review, Marine Review,
Iron Age, American Iron and Steel Association, United States Geological
Survey Reports and Congressional Reports and that found in the Engineer-
ing and Mining Journal, has been of great service and statistical value.
Suggestions and criticisms for use in future editions are invited.
State Capitol, St. Paul, Minnesota.
April 21, 1911.
Method and Determination
OF
1911
Prices, Premiums and Penalties
at Lake Erie
OF
Natural Iron Ores
OF THE
Lake Superior District
Governed by 1911 Basic Guarantees
WITH
Illustrative Schedules
AND
Tables of Iron Ore Values
By RUKARD KURD, C. E.
GOVERNING FACTORS
To determine the furnace value of natural iron ore, as mined, many fac-
tors must be considered, such as: Percentages of content, physical charac-
teristics and structure, lump value, density, porosity and availability. The
percentage of natural iron content is the governing factor in all ore con-
tracts.
THE IRON UNIT
The primary determinant for calculating values of natural iron ore is the
"Iron Unit" of one (1) per cent of a long ton, such ton containing one hun-
dred (100) units of one (1) per cent each.
THE IRON UNIT VALUE
The percentage of natural iron, that is, the number of determining "Iron
Units" contained therein, is found by expelling the moisture, always present
in natural iron ore, by drying the sample at 212 degrees F., and analyzing
the dried sample. Deducting the percentage of moisture found in the nat-
ural iron sample from one hundred, and multiplying the remainder, expressed
decimally, by the percentage of iron found in the dried sample the result is
the percentage of natural iron, the iron unit value. See table, page 18.
-i
BASE UNIT VALUE
In order to obtain the market value of iron ore of any grade, it is
necessary to establish a standard or "base unit value" for each grade. This
is theoretically determined by dividing the price per ton by the percentage
of natural iron, but, practically, having as standards an agreed trade base
price per ton, with a guaranteed percentage of natural iron units (and
agreed precentages of moisture, and of phosphorus, if Bessemer) in the
ton, a base unit of value is established. This base unit when multiplied by
the percentage of natural iron determines the price for standard ore. When
the product is increased by certain agreed premiums the result is the price
for over-standard ore, and when, beginning with the price of 50 per cent ore
of any class, certain agreed penalties are decTuctetl the result is the price
for sub-standard ore.
THE 1911 BASIC GUARANTEES, PRICES AND BASE UNIT VALUES
FOR STANDARD IRON ORES— LAKE SUPERIOR DISTRICT
The following standards established the 1911 base percentages and
prices for Lake Superior ores, and determined their base unit values from
which are calculated prices, premiums and penalties of all classes:
*BASE PERCENTAGES
PRICES
Standard Grade
Natural
Iron
Phos.
Moist
Iron
Dried
Lake
Erie
Val-
ley
Base Unit
Value
Old Range- Vermilion Bessemer . .
Mesaba Bessemer
55.00
55.00
.045
045
10
10
61.12
61.12
$4.50
4.25
$5.10
4 85
$0.0927273
0.0881818
Old Range- Vermilion Non-Besse-
mer '
Mesaba Non-Bessemer
51.50
51.50
12
12
58.52
58.52
3.70
3.50
4.30
4.10
0.0834951
0.0796116
DETERMINATION OF NATURAL AND DRIED IRON PERCENTAGES
Having a given percentage of standard Bessemer natural iron, divide by
.9, or of non-Bessemer natural iron, divide by .88 to obtain percentage of
iron dried. Having a given percentage of standard Bessemer iron dried, multi-
ply by .9, or of non-Bessemer iron dried, multiply by .88 to obtain percentage
of natural iron. This applies to ores having moisture percentages as above.
See moisture table on page 18.
The base unit value for each grade is obtained by adding an arbitrary
60 cents per ton, rail freight, to the Lake Erie base price, making the Valley
base price, and dividing this Valley base price by the base percentage of
natural iron.
The Valley base price therefore establishes the base unit value and de-
termines the premium and penalty.
•Base percentages established in 1907. For 1905-6 the natural iron base per-
centages were: Old Range, Vermilion and Mesaba, Bessemer 56.70%; non-Besse-
mer 52.80%, except Mesaba non-Bessemer, 53%.
fOre prices announced April 21, 1911
—2—
LAKE ERIE PRICES
As all ore is sold delivered at Lower Lake ports, the accompanying
tables of iron ore values give Lake Erie base prices which are used in mar-
ket quotations and govern ore contracts.
VALLEY PRICES
Valley base prices are therefore an arbitrary sixty (60) cents, rail
freight, more per ton than the calculated Lake Erie base price of the tables.
DETERMINATION OF 1911 BASE UNIT VALUES
1. For Old Range-Vermilion Bessemer, the Valley base price, $5.10,
divided by the base 55 per cent natural iron, determines the base unit value,
$0.0927273.
2. For Mesaba Bessemer, the Valley base price, $4.85, divided by the
base 55 per cent natural iron, determines the base unit value, $0.0881818.
3. For Old Range-Vermillion non-Bessemer, the Valley base price, $4.30,
divided by the base 51.50 per cent natural iron, determines the base unit
value, $0.0834951.
4. For Mesaba non-Bessemer, the Valley base price, $4.10, divided by
the base 51.50 per cent natural iron, determines the base unit value,
$0.0796116.
DETERMINATION OF 1911 PRICES, PREMIUMS AND PENALTIES
(A) LAKE ERIE PRICES FOR STANDARD GRADES
1. Lake Erie prices for Old Range- Vermilion Bessemer ore of the fol-
lowing percentages (or fraction thereof) of natural iron: 50, 51, 52, 53, 54
and 55 are determined by multiplying each percentage by the base unit
value of $0,0927272 and deducting sixty (60) cents per ton. See Schedule
1, on page 8.
2. Lake Erie prices for Mesaba Bessemer ore of the following per-
centages (or fraction thereof) of natural iron: 50, 51, 52, 53, 54 and 55,
are determined by multiplying each percentage by the base unit value
of $0.0881818 and deducting sixty (60) cents per ton. See Schedule No.
2, on page 10.
3. Lake Erie prices for Old Range-Vermillion non-Bessemer ore of the
following percentages (or fraction thereof) of natural iron: 50, 51, 52 and
53, are determined by multiplying each percentage by the base unit value
of $0.0834951 and deducting sixty (60) cents per ton. See Schedule INo. 3, on
page 12.
4. Lake Erie prices for Mesaba non-Bessemer ore of the following per-
centages (or fraction thereof) of natural iron: 50, 51, 52 and 53, are deter-
mined by multiplying each percentage by the base unit value of $0.0796116
and deducting sixty (60) cents per ton. See Schedule No. 4, on page 14.
It will be specially noted that the base unit value determines the price
of the above classes and percentages of standard ores. Their value below
the base price is simply an automatic reduction. It is in no sense a penalty.
The same results for Lake Erie prices may also be obtained by a process
of addition. Beginning with the 50 per cent base price, add thereto the base
unit value of the proper class; the sum is the 51 per cent price. Add to
that amount the same base unit value; the total is the 52 per cent price;
and so on for each, per cent, the cumulative premium applying at the proper
place. See Constructive Schedules 1, 2, 3 and 4 on pages 8, 10, 12 and 14.
(B) LAKE ERIE PRICES FOR OVER-STANDARD GRADES— PREMIUMS
Lake Erie prices of all grades of standard Bessemer ore, Old Range-
Vermilion and Mesaba of the following percentages (or fraction thereof)
of natural iron: above 55, 56, 57, 58, 59 and 60, and of all grades of standard
non-Bessemer ore, Old Range-Vermilion and Mesaba of the following per-
centages of natural iron: above 53, 54, 55, 56, 57 and 58, are determined by
multiplying the percentage of natural iron by the base unit value of the
proper class as shown above, and deducting sixty (60) cents per ton, and
then, within the limits specified and beginning with the 55.01 per cent Besse-
mer and the 53.01 per cent non-Bessemer, adding thereto a premium of one
(1) cent, cumulative, per unit.
The premium never exceeds 15 cents per ton per iron unit, and beyond
the percentages named the calculations for succeeding prices revert to the
use of the original base unit values, each percentage, however, receiving the
premium of 15 cen«ts per ton. See Schedules 1, 2, 3 and 4, on pages 8, 10, 12
and 14.
(C) LAKE ERIE PRICES FOR SUB-STANDARD GRADES— PENALTIES
For Bessemer ore, deduct from the 50 per cent Lake Erie base price
1^ base units of the proper class; the result is the 49 per cent price; deduct
from that amount 2 base units, the result is the 48 per cent price; deduct
2 base units from each succeeding result, and each result will give Lake Erie
price for 47, 46, 45, 44, 43, 42, 41 and 40 per cent.
The 1911 penalty for each unit below 49 per cent is: for Old Range- Ver-
milion $0.1854546; for Mesaba $0.1763636.
For non-Bessemer ore, deduct from the 50 per cent Lake Erie base price
l1^ base units of the proper class; the result is the 49 per cent price; deduct
from that amount and from each succeeding result 2 base units, and each
result will give Lake Erie price for 48, 47, 46, 45, 44, 43, 42, 41 and 40 per cent.
The 1911 penalty for each unit below 49 per cent is: for Old Range-Ver-
milion $0.1669902; for Mesaba $0.1592232; although for below 49 per cent
trade ore tables carry the $0.1592232 as an arbitrary 18 cents.
TABULAR PRICES FOR ESTIMATING
The prices for 45, 46 and 47 percentages of natural iron in the tables
of values, and the prices for 40 to 45 percentages found in the Illustrative
Schedules are given as of service for estimating probable future value of
sub-grade reserve ores.
PHOSPHORUS PREMIUM AND PENALTY
Should there be a phosphorus premium or penalty the amount to foe
added or deducted will be found in the standard table of phosphorus values,
on page 16.
ADDITIONAL PREMIUM OR PENALTY BY PRIVATE CONTRACT
Any further premium for such as lump value is added to and any further
penalty for such as silica, manganese and sulphur, is deducted from the
standard prices for standard ores, by private contract at an arbitrary amount
per ton.
MATHEMATICAL AND TRADE CALCULATING DECIMALS
To secure mathematical accuracy seven (7) decimals are used in< calcu-
lating units of value and prices, and are given in the illustrative schedules.
For trade purposes five (5) decimals in the price are sufficient, and are
so used in the tables of iron ore values.
Any tonnage multiplied by the tabular price of the proper percentage
of any given grade, will result in the value of that tonnage at Lake Erie.
BASE UNIT VALUE FOR CHANGE IN PRICE
Should the present natural iron base standards continue, but the price of
ere be raised or lowered from 1911 prices, the base unit values to correspond
with such new prices within the limits named, will be found in the schedule
of permanent base unit values. A new table of ore values would be con-
structed by the method herein described in "Determination of 1911 Prices,
Premiums and Penalties," using any other consideration named in the new
ore contracts. See Schedule on page 17.
BASE UNIT VALUE FOR CHANGES IN PRICE AND OF NATURAL IRON
BASE
Where both base price and natural iron base standards change, add to
the new Lake Erie base price, 60 cents, making the Valley base price; and
divide this Valley base price by the new base percentage of natural iron,
thereby establishing the new base unit value, and proceed as described in
"Determination of 1911 Prices, Premiums and Penalties."
In the event of a change in base price, but no change in the 1911 base
natural iron percentages, new values may be quickly determined, as follows:
To any given 1911 Lake Erie price, of any percentage, or fraction, of any
grade, add 60 cents (for Valley price, which determines the base unit value)
and multiply the total by the decimal multiple corresponding with the new
base price; deduct from that amount (the Valley price) 60 cents, and the
result is the new Lake Erie price. For decimal multiple, see schedule on
page 17.
A DEFINITION OF BESSEMER ORE
Bessemer ore dried at 212WF. has a typical analysis of 61.55 per cent
iron, 0.47 per cent phosphorus, 4.6 per cent silica and 1.5 per cent manganese.
With a generally accepted moisture of 10 per cent this is equivalent to 55.39
per cent natural iron. The per cent of iron may be diminished provided
there is a diminution of phosphorus equal to .0075 for each per cent of iron
loss.
ABNORMAL CONDITIONS
The work cannot enter into abnormal conditions. Until mine and fur-
nace operators agree upon and establish tables, of premiums for lump ore,
and of penalty for excess of silica, manganese, sulphur, etc., settlements for
such contents must of necessity remain a matter for private adjustment.
They cannot now be tabulated.
Even though furnaces may be able to buy sub-grades ores at their own
terms and for less than the tabular price, the price determined from base
values are given to govern theoretically until sub-grade values are established
that will be accepted and adhered to by buyer and seller.
Illustrative Schedules
and
Abridged Tables
of
Values
1911
COMPILED BY
RUKARD KURD
ILLUSTRATIVE SCHEDULE No. 1
OLD RANGE-VERMILION BESSEMER
Constructive Mathematical Table of Lake Erie Prices by Subtraction of l^fand 2
Base Units, as indicated, by Addition of the Base Unit and the Premium,
and by Multiplication of the Base Units with added Premium
BY SUBTRACTION
Natural Iron
Per Cent
Net Lake
Erie Price
Total
Penalty
50
1*
49
2*
48
47
46
45
44
43
42
41
40
$4.0363650
. 1390909
$0.1390909
.3245455
.5100001
.6954547
.8809093
1.0663639
1.2518185
1.4372731
1 . 6227277
1.8081823
$3.8972741
. 1854546
$3.7118195
. 1854546
$3.5263649
. 1854546
$3.3409103
. 1854546
$3.1554557
. 1854546
$2.9700011
.1854546
$2.7845465
. 1854546
$2 . 5990919
. 1854546
$2.4136373
. 1854546
BY MULTIPLICATION
$2.2281827
Natural Iron
Per Cent Base Unit
*Lake Erie
Price ,-j
BY ADDITION
60
51
52
53
54
55
56
57
58
59
60
61
$4.0363650
.0927273
Premium
$0.01
.03
.06
.10
.15
.15
50 x $0.0927273
51 x .0927273
52 x .0927273
53 x .0927273
54 x .0927273
55 x .0927273
Premium
56 x .0927273+ Ic
57 x .0927273+ 3c
58 x .0927273+ 6c
59 x . 0927273 + lOc
60 x . 0927273 +15c
61 x .0927273+15c
$4.0363650
4.1290923
4.2218196
4.3145469
4.4072742
4.5000015
4.6027288
4.7154561
4.S381834
4.9709107
5.1136380
5 . 2063653
$4.1290923
.0927273
$4. 2218196
.0927273
$4 3145469
.0927273
$4.4072742
.0927273
$4.5000015
. 1027273
$4.6027288
.1127273
$4.7154561
. 1227273
$4.8381834
. 1327273
$4.9709107
. 1427273
$5.1136380
.0927273
$5.2063653
L* H Base Units. 2* 2 Base Units.
Every price includes a deduction of 60 cents per ton.
SCHEDULE No. 1 OF PRICES
OLD RANGE-VERMILION BESSEMER
Base Natural Iron 55%, Base Valley Price $5.10, Base Unit Value $0.0927273
Base Lake Erie Price $4.50
*ABRIDGED TABLE
CLASS
Natural
Iron
Per Cent
Net
Lake Erie
Price
Penalty
40
$2.2281827
$1.8081823
41
2.4136373
1.6227277
42
2.5990919
1.4372731
43
2 . 7845465
1.2518185
Sub-Standard
44
2.9700011
1.0663639
45
3.1554557
.8809093
46
3.3409103
.6954547
47
3.5263649
.5100001
48
3.7118195
.3245455
49
3.8972741
. 1390909
•
Base Unit Value
f 50
$4.0363650
$0.0927273
51
4.1290923
.0927273
Standard. . .
52
4.2218196
.0927273
53
4.3145469
.0927273
54
4.4072742
.0927273
55
4.5000015
.0927273
Premium
56
$4 . 6027288
$0.1027273
57
4.7154561
.2154546
Over Standard. . .
58
4.8381834
.3381819
59
4.9709107
.4709092
60
5.1136380
.6136365
I 61
5.2063653
.7063638
Special Note:
•"Complete tables are placed at the end of the Manual for convenient reference.
The Penalty ending with 49.99% is deducted pro rata from prices.
The Premium beginning with 55.01% is added pro rata to prices.
ILLUSTRATIVE SCHEDULE No. 2
MESABA BESSEMER
Constructive Mathematical Table of Lake Erie prices by Subtraction of 1} and 2
Base Units, as indicated, by Addition of the Base Unit and the Premium,
and by Multiplication of the Base Unit with added Premium
BY SUBTRACTION
Natural Iron
Per Cent
Lake Erie
Price
Total
Penalty
60
1*
49
2*
48
47
46
45
44
43
42
41
40
$3.8090900
. 1322727
$0.1322727
.3086363
.4849999
.6613635
.8377271
1.0140907
1.1904543
1.3668179
1.5431815
1.7195451
$3.6768173
. 1763636
$3 . 5004537
. 1763636
$3.3240901
. 1763636
$3.1477265
. 1763636
$2.9713629
.1763636
$2.7949993
.1763636
$2.6186357
. 1763636
$2.4422721
.1763636
$2.2659085
. 1763636
BY MULITPLICATION
$2.0895449
Natural Iron
Per Cent Base Unit
*Lake Erie
Price
BY ADDITION
50 x $0.0881818
51 x .0881818
52 x .0881818
53 x .0881818
54 x .0881818
55 x .0881818
(To adjust)
Premium
56 x .0881818+ Ic
57 x .0881818+ 3c
58 x .0881818+ 6c
59 x .0881818+ lOc
60 x .0881818+ loc
61 x . 0881818+ 15c
$3.8090900
3.8972718
3 . 9854536
4.0736354
4.1618172
4.2499990
.0000010
50
51
52
53
54
55
56
57
58
59
60
61
$3.8090900
.0881818
Premium
$0.01
.03
.06
.10
.15
.15
$3.8972718
.0881818
$3 . 9854536
.0881818
$4.0736354
.0881818
$4.1618172
.0881818
$4 . 2499990
(to adjust) 10
$4.2500000
(to adjust) 10
$4.2500000
4.3481808
4.4563626
4.5745444
4.7027262
4.8409080
4.9290898
$4.2499990
.0981818
4.3481808
.1081818
$4.4563626
.1181818
$4 . 5745444
.1281818
$4.7027262
.1381818
$4.8409080
.0881818
$4 . 9290898
1* H Base Units. 2* 2Base Units.
*Every price includes a deduction of 60 cents per ton.
—10—
SCHEDULE No. 2 OF PRICES
MESABA BESSEMER
Base Natural Iron 55%, Base Valley Price $4.85, Base Unit Value $0.0881818
Base Lake Erie Price $4.25
*ABRIDGED TABLE
CLASS
Natural
Iron
Per Cent
Net
Lake Erie
Price
Penalty
40
$2.0895449
$1.7195451
41
2.2659085
1.5431815
42
2.4422721
1.3668179
43
2.6186357
1 . 1904543
Sub-Standard
44
2 . 7949993
1.0140907
j ^rm
45
2.9713629
.8377271
46
3.1477265
.6613635
47
3.3240901
.4849999
48
3 . 5004537
.3086363
49
3.6768173
.1322727
Base Unit Value
f 50
$3.8090900
$0.0881818
51
3.8972718
.0881818
Standard
52
3.9854536
.0881818
j \jt*
53
4.0736354
.0881818
54
4.1618172
.0881818
( 55
4 . 2500000
.0881818
Premium
56
$4.3181808
$0.0981818
57
4.4563626
.2063636
Over-Standard
58
4 . 5745444
. 3245454
) «*w
59
4.7027262
.4527272
60
4 . 8409080
. 5909090
I 61
4.9290898
. 6790908
Special Note :
'•'Complete tables are placed at the end of the Manual for convenient reference.
The Penalty ending with 49.99% is deducted pro rata from prices.
The Premium beginning with 55.01% is added pro rata to prices.
—11—
ILLUSTRATIVE SCHEDULE No. 3
OLD RANGE-VERMILION NON-BESSEMER
Constructive Mathematical Table of Lake Erie prices by Subtraction of 1$ and 2
Base Units, as indicated, by Addition of the Base Unit and the Premium,
and by Multiplication of the Base Unit with added Premium
BY SUBTRACTION
Natural Iron
Per Ceut
liike Erie
Price
Total
Penalty
50
i
49
I
48
47
46
45
44
43
42
41
40
$3 . 5747550
.1252426
$0.1252426
.2922328
. 4592230
.6262132
. 7932034
.9601936
1.1271838
1.2941740
1.4611642
1.6281544
$3.4495124
. 1669902
$3.2825222
. 1669902
$3.1155320
.1669902
$2 . 9485418
.1669902
$2.7815516
.1669902
$2.6145614
. 1669902
$2.4475712
.1669902
$2.2805810
. 1669902
$2.1135908
.1669902
BY MULTIPLICATION
$1.9466006
Natural Iron
Per Cent Base Unit
*Lake Erie
Price
BY ADDITION
50
51
52
53
54
55
56
57
58
59
60
$3 . 5747550
.0834951
Premium
$0.01
.03
.06
.10
.15
.15
.15
50 x $0.0834951
51 x .0834951
52 x .0834951
53 x .0834951
Premium
54 x . 083495 1-f Ic
55 x .0834951+ 3c
56 x .0834951+ 6c
57 x . 0834951 + lOc
58 x . 0834951 +15c
59 x . 0834951 +15c
60 x . 0834951 +15c
$3 . 5747550
3.6582501
3.7417452
3.8252403
3.9187354
4.0222305
4 . 1357256
4.2592207
4.3927158
4.4762109
4 . 5597060
$3.6582501
.0834951
$3.7417452
.0834951
$3 . 8252403
.0934951
$3.9187354
. 1034951
$4.0222305
.1134951
$4.1357256
. 1234951
$4.2592207
.1334951
$4.3927158
.0834951
$4.4762109
.0834951
$4 . 5597060
1* 11 Base Units. 2* 2 Base Units.
* Every price includes a deduction of 60 cents per ton.
—12—
SCHEDULE No. 3 OF PRICES
OLD RANGE- VERMILION NON-BESSEMER
Base Natural Iron 51.50%, Base Valley Price $4.30, Base Unit Value $0.0834951
Base Lake Erie Price $3.70
*ABRIDGED TABLE
CLASS
Natural
Iron
Per Cent
Net
Lake Erie
Price
Penalty
f 40
SI. 9466006
$1.6281544
41
2.1135908
1.4611642
42
2.2805810
1.2941740
43
2.4475712
1.1271838
Sub-Standard
44
2.6145614
.9601936
: 45
2.7815516
.7932034
46
2.9485418
.6262132
47
3.1155320
.4592230
48
3.2825222
. 2922328
49
3.4495124
. 1252426
Base Unit Value
f 50
$3.5747550
$0.0834951
Standard
j 51
3.6582501
.0834951
/
1 52
3.7417452
.0834951
[ 53
3.8252403
.0834951
Premium
f 54
$3.9187354
$0.0934951
55
4.0222305
. 1969902
56
4.1357256
.3104853
Over-Standard
<} 57
4 . 2592207
. 4339804
1
58
4.3927158
. 5674755
59
4.4762109
. 6509706
60
4.5597060
. 7344657
Special Note:
-Complete tables are placed at the end of the Manual for convenient reference.
The Penalty ending with 49.99% is deducted pro rata from prices.
The Premium beginning with 53.01% is added pro rata to prices.
—13—
ILLUSTRATIVE SCHEDULE No. 4
MESABA NON-BESSEMER
Constructive Mathematical Table of Lake Erie prices by Subtraction of 1A and 2
Base Units, as indicated, by Addition of the Base Unit and the Premium,
and by Multiplication of the Base Unit with added Premium
BY SUBTRACTION
Natural Iron
Per Cent
Lake Erie
Price
Total
Penalty
50
1*
49
2*
48
47
46
45
44
43
42
41
40
$3.3805800
.1194174
$0.1194174
.2786406
.4378638
.5970870
.7563102
.9155334
1.0747566
1.2339798
1.3932030
1 . 5524262
$3.2611626
. 1592232
$3.1019394
. 1592232
$2.9427162
.1592232
$2.7834930
. 1592232
$2 . 6242698
. 1592232
$2.4650466
.1592232
$2 . 3058234
.1592232
$2 . 1466002
. 1592232
$1 . 9873770
.1592232
BY MULTIPLICATION
$1.8281538
Natural Iron
Per Cent Base Unit
*Lake Erie
Price
BY ADDITION
50
51
52
53
54
55
56
57
58
59
$3.3805800
.0796116
Premium
$0.01
.03
.06
.10
.15
.15
.15
50 x $0.07961 16
51 x .0796116
52 x .0796116
53 x .0796116
Premium
54 x .0796116+ Ic
55 x .0796116+ 3c
56 x .0796116+ 6c
57 x . 0796116+ lOc
58 x . 0796116+ 15c
59 x . 0796116+ 15c
60 x . 0796116+ 15c
$3.3805800
3.4601916
3 . 5398032
3.6194148
3.7090264
3.8086380
3.9182496
4.0378612
4.1674728
4.2470844
4.3266960
$3.4601916
.0796116
$3.5398032
.0796116
$3.6194148
.0896116
$3.7090264
.0996116
$3 . 8086380
.1096116
$3.9182496
.1196116
$4.0378612
.1296116
$4.1674728
.0796116
$4.2470844
.0796116
$4.3266960
1* 1£ Base Units. 2* 2 units used instead of the arbitrary 18 cents.
*Every price includes a deduction of 60 cents per ton.
—14—
SCHEDULE No. 4 OF PRICES
MESABA NON-BESSEMER
Base Natural Iron 51.50%, Base Valley Price $4.10, Base Unit Value $0.0796116
Base Lake Erie Price $3.50
*ABRIDGED;TABLE
CLASS
Natural
Iron
Per Cent
Net
Lake Erie
Price
Penalty
40
$1.8281538
$1.5524262
41
1.9873770
1.3932030
42
2.1466002
1.2339798
43
2.3058234
1.0747566
Sub-Standard.
44
2.4650466
.9155334
: 45
2.6242698
.7563102
46
2.7834930
. 5970870
47
2.9427162
.4378638
48
3.1019394
. 2786406
49
3.2611626
.1194174
Base Unit Value
f 50
$3.3805800
$0.0796116
Standard
51
3.4601916
.0796116
J "*
} 52
3.5398032
.0796116
•
[ 53
3.6194148
.0796116
Premium
54
$3.7090264
$0.0896116
55
3.8086380
.1892232
56
3.9182496
.2988348
Over-Standard
57
4.0378612
.4184464
58
4.1674728
.5480580
59
4 . 2470844
.6276696
60
4.3266960
.7072812
Special Note:
"Complete tables are placed at the end of the Manual for convenient reference.
The Penalty ending with 49.99% is deducted pro rata from prices.
The Premium beginning with 53.019o is added pro rata to prices.
— 15 —
STANDARD TABLE OF PHOSPHORUS VALUES
PENALTY
PREMIUM
Phosphorus
Phosphorus
Per cent
Penalty
Cents
Progression
Per Unit
Per cent
Premium
Cents
Progression
Per Unit
Cents
Cents
.045
.0000
.0000
.045
.0000
.0000
.046
.0080
.0080
.044
.0080
.0080
.047
.0165
.0085
043
.0165
.0085
.048
.0255
.0090
.042
.0255
.0090
.049
.0350
.0095
.041
.0350
.0095
.050
.0450
.0100
.040
.0450
.0100
.051
.0555
.0105
.039
.0555
.0105
.052
.0665
.0110
.038
.0665
.0110
.053
.0780
.0115
.037
.0780
.0115
.054
.0900
.0120
.036
.0900
.0120
.055
.1025
.0125
.035
.1025
.0125
.056
.1155
.0130
.034
.1155
.0130
.057
.1290
.0135
.033
.1290
.0135
.058
.1430
.0140
.032
.1430
.0140
.059
.1575
.0145
.031
.1575
.0145
.060
.1725
.0150
.030
.1725
.0150
.061
.1880
.0155
.029
.1880
.0155
.062
.2040
.0160
.028
.2040
.0160
.063
.2205
.0165
.027
.2205
.0165
.064
.2375
.0170
.026
.2375
.0170
.065
.2550
.0175
.025
.2550
.0175
.066
.2730
.0180
.024
.2730
.0180
.067
.2915
.0185
.023
.2915
.0185
.068
.3105
.0190
.022
.3105
.0190
.069
.3300
.0195
.021
.3300
.0195
.070
.3500
.0200
.020
.3500
.0200
.019
.3705
.0205
| "
.018
.3915
.0210
.017
.4130
.0215
) '
.016
.4350
.0220
.015
.4575
.0225
'. '. '.
* [ \
.014
.4805
.0230
.013
.5040
.0235
! '. '.
.012
.5280
.0240
.011
.5525
.0245
'. '. '.
| \-
.010
.5775
.0250
.009
.6030
.0255
'. '. '.
.008
.6290
.0260
.007
.6555
.0265
'. '. '.
.006
.6825
.0270
• • •
....
.005
.7100
.0275
—16—
SCHEDULE OF PERMANENT BASE UNIT VALUES
FOR DETERMINING FROM ANY BASE PRICE
VALLEY PRICES, PREMIUMS AND PENALTIES
BASE NATURAL IRON, BESSEMER 55% NON BESSMER 51.50%
And the Corresponding Decimal Multiple to apply to Rule on Page 6
Deduct from all calculations 60 cents to obtain Lake Erie prices
Specially Compiled by Rukard Hurd for this Manual
Old Range-Vermilion Bessemer
1911 Base Standard
55%— $5.10— $0.0927273
Lake Erie Price $4.50
Mesaba Bessemer
1911 Base Standard
55%— $4.85— $0.0881818
Lake Erie Price $4.25
Valley
Base
Valley
Base Unit
1911
Decimal
Valley
Base
Valley
Base Unit
1911
Decimal
Price
Value
Multiple
Price
Value
Multiple
$4.85
$0.0881818
.95098
$4.60
$0.0836364
.94845
4.90
.0890909
.96078
4.65
.0845454
.95876
4.95
.0900000
.97059
4.70
.0854545
.96907
5.00
.0909091
.98039
4.75
.0863636
.97938
5.05
.0918182
.99020
4.80
.0872727
. 98969
5.10
.0927273
1 . 00000
4.85
.0881818
.00000
5.15
.0936364
1.00980
4.90
.0890909
.01031
5.20
.0945454
1.01961
4.95
.0900000
. 02062
5.25
.0954545
.02491
5.00
.0909091
.03093
5.30
.0963636
.03921
5.05
.0918182
.04124
5.35
.0972727
.04902
5.10
.0927273
.05155
5.40
.0981818
1.05882
5.15
.0936364
.06186
5.45
. 0990909
1.06863
5.20
. 0945454
.07216
5.50
. 1000000
1.07843
5.25
.0954545
.08247
5.55
. 1009091
1.08823
5.30
.0963636
.09278
5.60
.1018182
1.09804
5.35
.0972727
. 10309
5.65
.1027273
1.10784
5.40
.0981818
.11340
5.70
.1036364
1.11765
5.45
.0990909
.12371
5.75
. 1045454
1.12745
5.50
. 1000000
.13402
5.80
. 1054545
1.13725
5.55
.1009091
.14433
5.85
. 1063636
1.14706
5.60
.1018182
.15464
Old Range- Vermilion Non-Bessemer
Mesaba Non-Bessemer
1911 Base Standard
1911 Base Standard
51.50%— $4.30— $0.0834951
51.50%— $4.10— $0.0796116
Lake Erie Price $3.70
Lake Erie Price $3.50
$4.05
$0 . 0786408
.94186
$3 . 85
$0.0747573
.93902
4.10
.0796116
.95349
3.90
.0757281
.95122
4.15
.0805825
.96512
3 . 95
.0766990
.96341
4.20
.0815534
.97674
4.00
.0776699
.97561
4.25
.0825243
.98837
4.05
.0786408
.98780
4.30
.0834951
1.00000
4.10
.0796116
1.00000
4.35
.0844660
1.01163
4.15
.0805825
1.01219
4.40
.0854369
1.02326
4.20
.0815534
1.02439
4.45
. 0864078
1.03488
4.25
.0825243
1.03659
4.50
.0873786
1.04651
4.30
.0834951
1.04878
4.55
. 0883495
1.05814
4.35
.0844660
1 . 06097
4.60
.0893204
1.06977
4.40
.0854369
1.07317
4.65
.0902913
1.08139
4.45
.0864079
. 08536
4.70
.0912621
1.09302
4.50
.0873786
.09756
4.75
.0922330
1 . 10465
4.55
.0883495
.10976
4.80
.0932039
1.11628
4.60
.0893204
.12195
4.85
.0941748
1.12791
4.65
.0902913
.13415
4.90
.0951456
1.13953
4.70
.0912621
. 14634
4.95
.0961165
1.15116
4.75
.0922330
.15854
5.00
.0970874
1.16279
4.80
.0932039
.17073
5.05
.0980582
1.17442
4.85
.0941748
.18293
-17—
MOISTURE TABLE
MOISTURE RANGING FROM 1% TO 10%, INCLUSIVE
Showing by the Per Cent of Moisture Found in Iron Dried at 212* F.
The Per Cent of Natural Iron
Specially Compiled by Rukard Hurd for this Manual
Per Cent
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Iron Dried
Natural
Natural
Natural
Natural
Natural
Natural
Natural
Natural
Natural
Natural
Iron
Iron
Iron
Iron
Iron
Iron
Iron
Iron
Iron
Iron
35.00
34.65
34.30
33.95
33.60
33.25
32.90
32.55
32.20
31.85
31.50
36.00
35.64
35.28
34.92
34.56
34.20
33.84
33.48
33.12
32.76
32.40
37.00
36.63
36.26
35.89
35.52
35.15
34.78
34.41
34.04
33.67
33.30
38.00
37.62
37.24
36.86
36.48
36.10
35.72
35.34
34.96
34.58
34.20
39.00
38.61
38.22
37.83
37.44
37.05
36.66
36.27
35.88
35.49
35.10
40.00
39.60
39.20
38.80
38.40
38.00
37.60
37.20
36.80
36.40
36.90
41.00
40.59
40.18
39.77
39.36
38.95
38.54
38.13
37.72
37.31
37.80
42.00
41.58
41.16
40.74
40.32
39.90
39.48
39.06
38.64
38.22
38.70
43.00
42.57
42.14
41.71
41.28
40.85
40.42
39.99
39.56
39.13
39.60
44.00
43.56
43.12
42.68
42.24
41.80
41.36
40.92
40.48
40.04
40.50
45.00
44.55
44.10
43.65
43.20
42.75
42.30
41.85
41.40
40.95
40.50
46.00
45.54
45.08
44.62
44.16
43.70
43.24
42.78
42.32
41.86
41.40
47.00
46.53
46.06
45.59
45.12
44.65
44.18
43.71
43.24
42.77
42.30
48.00
47.52
47.04
46.56
46.08
45.16
45.12
44.64
44.16
43.68
43.20
49.00
48.51
48.02
47.53
47.04
46.55
46.06
45.57
45.08
44.59
44.10
50.00
49.50
49.00
48.50
48.00
47.50
47.00
46.50
46.00
45.50
45.00
51.00
50.49
49.98
49.47
48.96
48.45
47.94
47.43
46.92
46.41
45.90
52.00
51.48
50.96
50.44
49.92
49.40
48.88
48.36
47.84
47.32
46.80
53.00
52.47
51.94
51.41
50.88
50.35
49.82
49.29
48.76
48.23
47.70
54.00
53.46
52.92
52.38
51.84
51.30
50.76
50.22
49.68
49.14
48.60
55.00
54.45
53.90
53.35
52.80
52.25
51.70
51.15
50.60
50.05
49.50
56.00
55.44
54.88
54.32
53.76
53.20
52.64
52.08
51.52
50.96
50.40
57.00
56.43
55.86
55.29
54.72
54.15
53.58
53.01
52.44
51.87
51.30
58.00
57.42
56.84
56.26
55.68
55.10
54.52
53.94
53.36
52.78
52.20
59.00
58.41
57.82
57.23
56.64
56.05
55.46
54.87
54.28
53.69
53.10
60.00
59.40
58.80
58.20
57.60
57.00
56.40
55.80
55.20
54.60
54.00
61.00
60.39
59.78
59.17
58.56
57.95
57.34
56.73
56.12
55.51
54.90
62.00
61.38
60.76
60.14
59.52
58.90
58.28
57.66
57.04
56.42
55.80
63.00
62.37
61.74
61.11
60.48
59.85
59.22
58.59
57.96
57.33
56.70
64.00
63.36
62.72
62.08
61.44
60.80
60.16
59.52
58.88
58.24
57.60
65.00
64.35
63.70
63.05
62.40
61.75
61.10
60.45
59.80
59.15
58.50
66.00
65.34
64.68
64.02
63.36
62.70
62.04
61.38
60.72
60.06
59.40
67.00
66.33
65.66
64.99
64.32
63.65
62.98
62.31
61.64
60.97
60.30
68.00
67.32
66.64
65.96
65.28
64.60
63.92
63.24
62.56
61.88
61.20
Factor. . .
.99
.98
.97
.96
.95
.94
.93
.92
.91
.90
Multiply the per cent of Iron dried at 212 ° F. by the factor corresponding
to the per cent of moisture found therein. The result is the per cent of Natural
Iron.
The above is an abridged table and applies only to the even percentages of
moisture and of Iron dried as stated. To obtain any per cent or fraction thereof:
Deduct from 100 the per cent of moisture found in Natural Iron dried at
212° F. and multiply the remainder, expressed decimally, by the per cent of Iron
dried. The result is the per cent of Natural Iron.
—18—
MOISTURE TABLE
MOISTURE RANGING FROM 11% TO 20%, INCLUSIVE
Showing by the Per Cent of Moisture Found in Iron Dried at 212° F.
The Per Cent of Natural Iron
Specially Compiled by Rukard Hurd for this Manual
Per Cent
Iron Dried
11%
12%
13%
14%
15%
16%
*17%
18%
19%
20%
Natural
Iron
Natural
Iron
Natural
Iron
Natural
Iron
Natural
Iron
Natural
Iron
Natural
Iron
Natural
Iron
Natural
Iron
Natural
Iron
35.00
36.00
37.00
38.00
39.00
31.15
32.04
32.93
33.82
34.71
30.80
31.68
32.56
33.44
34.32
30.45
31.32
32.19
33.06
33.93
30.10
30.96
31.82
32.68
33.54
29.75
30.60
31.45
32.30
33.15
29.40
30.24
31.08
31.92
32.76
29.05
29.88
30.71
31.54
32.37
28.70
29.52
30.34
31.16
31.98
28.35
29.16
29.97
30.78
31.59
28.00
28.80
29.60
30.40
31.20
40.00
41.00
42.00
43.00
44.00
35.60
36.49
37.38
38.27
39.16
35.20
36.08
36.96
37.84
38.72
34.80
35.67
36.54
37.41
38.28
34.40
35.26
36.12
36.98
37.84
34.00
34.85
35.70
36.55
37.40
33.60
34.44
35.28
36.12
36.96
33.20
34.03
34.86
35.69
36 . 52
32.80
33.62
34.44
35.26
36.08
32.40
33.21
34.02
34.83
35.64
32.00
32.80
33.60
34.40
35.20
45.00
46.00
47.00
48.00
49.00
40.05
40.94
41.83
42.72
43.61
39.60
40.48
41.36
42.24
43.12
39.15
40.02
40.89
41.76
42.63
38.70
39.56
40.42
41.28
42.14
T38.25
;39.10
,39.95
40.80
41.65
37.30
38.64
39.48
40.32
41.16
37.35
38.18
39.01
39.84
40.67
36.90
37.72
38.54
39.36
40.18
36.45
37.26
38.07
38.88
39.69
36.00
36.80
37.60
38.40
39.20
50.00
51.00
52.00
53.00
54.00
44.50
45.39
46.28
47.17
48.06
44.00
44.88
45.76
46.64
47.52
43.50
44.37
45.24
46.11
46.98
43.00
43.86
44.72
45.58
46.44
42.50
43.35
44.20
45.05
45.90
42.00
42.84
43.68
44.52
45.36
41.50
42.33
43.16
43.99
44.82
41.00
41.82
42.64
43.46
44.28
40.50
41.31
42.12
42.93
43.74
40.00
40.80
41.60
42.40
43.20
55.00
56.00
57.00
58.00
59.00
48.95
49.84
50.73
51.62
52.51
48.40
49.28
50.16
51.04
51.92
47.85
48.72
49.59
50.46
51.33
47.30
48.16
49.02
49.88
50.74
46.75
47.60
48.45
49.30
50.15
46.20
47.04
47.88
48.72
49.56
45.65
46.48
47.31
48.14
48.97
45.10
45.92
46.74
47.56
48.38
44.55
45.36
46.17
46.98
47.79
44.00
44.80
45.60
46.40
47.20
60.00
61.00
62.00
63.00
64.00
53.40
54.29
55.18
56.07
56.96
52.80
53.68
54.56
55.44
56.32
52.20
53.07
53.94
54.81
55.68
51.60
52.46
53.32
54.18
55.04
51.00
51.85
52.70
53.55
54.40
50.40
51.24
52.08
52.92
53.76
49.80
50.63
51.46
52.29
53.12
49.20
50.02
50.80
51.66
52.48
48.60
49.41
50.22
51.03
51.84
48.00
48.80
49.60
50.40
51.20
65.00
66.00
67.00
68.00
57.85
58.74
59.63
60.52
57.20
58.08
58. 9B
59.84
56.55
57.42
58.29
59.16
55.90
56.76
57.62
58.48
55.25
56.10
56.95
57.80
54.60
55.44
56.28
57.12
53.95
54.78
55.61
56.44
53.30
54.12
54.94
55.76
52.65
53.46
54.27
55.08
52.00
52.80
53.60
54.40
Factor . . .
.89
.88
.87
.86
.85
.84
.83
.82
.81
.80
Multiply the per cent of Iron dried at 212° F. by the factor corresponding
to the per cent of moisture found therein. The result is the per cent of Natural
Iron.
The above is an abridged table and applies only to the even percentages of
moisture and of Iron dried as stated. To obtain any per cent or fraction thereof:
Deduct from 100 the per cent of moisture found in Natural Iron dried at
212° F. and multiply the remainder, expressed decimally, by the per cent of Iron
dried. The result is the per cent of Natural Iron.
—19—
The Minnesota Tax Commission
and
Its Valuation of Iron Ore
By Rukard Hurd
The history of the Lake Superior Iron District would not be complete
without referring to the Minnesota Tax Commission, and the manner in
which it has accomplished the arduous work of valuing for taxation purposes
the greatest known iron ore deposit in the world, of the Vermilion and
Mesaba Ranges, contained within the State of Minnesota and in the counties
of St. Louis and Itasca.
The Minnesota Tax Commission was created by an act of the legislature
approved April 23, 1907. On April 27, 1907, the three commissioners were ap-
pointed by the governor to serve for two, four amd six year terms respectively,
and on that date qualified, organized, elected a secretary and were then ready
for business. It is a permanent commission, in continuous session, has been
granted very broad powers, is maintained by an annual appropriation of $30,-
000, and obtains such additional extra appropriation upon request as it finds
necessary to facilitate its work.
The commission is in sole charge of taxation matters and of tax officials.
The commission is practically a court on taxation, and establishes its own
procedure; it orders and grants hearings; considers and decides upon all
applications for reduction or abatement of taxes; prescribes and publishes
taxation blanks and forms; orders re-assessments both on its own volition
or upon certified official requests, appointing its own special assessors; has
authority to call for persons and papers. Finally, the commission is the
State Board of Equalization.
Among the many matters taken under immediate consideration were:
1st, The determination of the relation of the true to the assessed value of
realty prevailing throughout the state by the sales method, which resulted
in obtaining for the years 1902-1907 inclusive, a record of 53,010 real estate
sales amounting to $98,647,719, the assessed valuation of which for year of
transfer was $42,892,017; and
2d: The placing of an ad valorem value on the realty contained within
the so-called ore belts of the Vermilion Range in St. Louis County, and the
Mesaba Range in St. Louis and Itasca Counties.*
The Mesaba Range, after hasty and often unreliable and incomplete ex-
ploration, had only been opened and shipping since 1892 For a number of
years the value of its grade of iron ore had not been fully commercially de-
termined. The total tonnage was not known and explorations were mainly
incomplete and unreliable.
*From 1881 to 1897 there was a tax of one cent per ton on shipments.
—20—
No previous attempt had been made to locate and assess tonnage. Crude
methods and arbitrary values were used, based upon previous output, or ex-
pected shipments and such fragmentary information as was available. The
1906 realty assessment on the mines amounted to a total of $64,486,409.
The Tax Commission decided to avoid arbitrary methods and to obtain,
if possible, the necessary information on which to base an intelligent, just
and equitable assessment of the mineral properties.
On June 18, 1907, by circular letter, the commission requested all owners
and operators of iron ore properties to furnish by July 15, 1907, full informa-
tion concerning their holdings — tonnages with average analyses, character
and structure of the ore, date and term of mining leases and amount of roy-
alty, mining and other cost, average price of their ore for a term of years at
Lower Lake ports, etc., etc.
The commission, with its secretary and the state inspector of mines,
then proceeded upon a thorough investigation and inspection of the under-
ground and open pit mines, of prospects and of mineral lands on the ranges.
It became apparent that many mines were operating under the most favor-
able conditions and shipping high grade ore at low cost, while many other
mines had a higher cost and lower grade of ore, and many others were min-
ing under adverse conditions, with excessive rock, water, quicksand and a
low grade of ore. Many mines had ore beginning at the surface; others
would have 50 to 100 feet of overburden containing many millions of cubic
yards that must be removed at great cost prior to open pit mining; while
others, on account of overburden could be operated only as underground
mines.
The commission grasped the situation and evolved the unprecedented
plan of placing an ad valorem value on and taxing iron ore in the ground and
by the ton.
Taking the Hull-Rust and the Mahoning mines as models, or standards
for the highest type of mining of high grade ore under the most favorable
conditions and at the minimum cost, by a process of comparison, elimination
and adjustment, there were created 6 groups or classes of active shipping
mines, with differentials to cover the varying adverse conditions of each
class. The reserves, part of active mines, or independent tonnages, were
placed in 3 groups or classes, according to their availability as future active
mines.
The prospects were assessed as near as their value could be approxi-
mated according to their surrounding conditions and speculative value, on ac-
count of proximity to or possibly being part of known ore bodies, until devel-
opment should make a reclassification necessary.
The mineral lands within the known ore belt were similarly treated,
their values being gradually increased as they approached to what seemed
good prospects.
Within 90 days after receipt of the tax commission's circular letter,
mining companies and mineral owners generally complied with the request,
—21—
furnishing data as to mining cost, analyses, prices, etc., and complete inven-
tories of 258 mines and reserves, containing a total of 1,192,509,757 tons of
merchantable iron ore.
The next step was the classification of this great tonnage into the 6
groups of active mines and the 3 groups of reserves.
Then was considered the average price of iron ore for a term of years
at Lower Lake ports, and the costs of production and delivery, the difference
being the full value in Minnesota of ore ready for shipment. Then followed
considerations of the term of the lease, the average life of the mine and the
present or discounted value of all the ore in the mine or reserve on a 4 per
cent annuity basis. Then came an investigation through every known source:
sales of realty, U. S. census, state auditor and state board of equalization
reports, etc., of the average per cent prevailing throughout the state of true
to assessed value on all realty, and the application of that ratio to this min-
eral realty.
Proceeding in the above outlined manner, the Tax Commission denned its
classification and based the taxable value per ton of ore in the ground as
follows :
CLASSIFICATION FOR 1907
ACTIVE MINES
Class 1 : Inexpensive mining and high grade ore 32 cents
Class 2: Comparatively inexpensive mining and lower grade ore.. 30 cents
Class 3: Higher mining cost and mixed grade ore 27 cents
Class 4 : Underground, low mining cost and high grade ore 23 cents
Class 5: Underground, higher mining cost and medium grade ore. .19 cents
Class 6: Underground, high mining cost, excess rock and water. . .14 cents
RESERVES
Class 1: Partially developed and stripped, about ready for ship-
ping 15 cents
Class 2 : Not stripped and not fully developed 10 cents
Class 3 : Not stripped and only partially developed 8 cents
Prospects, unexplored but located near to developed tonnages to be
assessed at from $2,000 to $20,000 per 40-acre tracts.
Mineral lands unexplored, but in ore belt, to be assessed at from $3.00
to $50.00 per acre.
After due notice and a public hearing, the Tax Commission placed a total
assessed valuation of $186,720,026.00 on a total of 1,192,509,757 tons. In addi-
tion, the assessed valuation on 1858 prospects and parcels of mineral lands,
was raised to $4,986,656. The personality of the mining companies was
assessed and the total was $4,334,490.
The 1908 grand total assessment made by the Tax Commission, after due
notice and a public hearing, was $174,273,632 on a total of 1,193,728,959 tons,
a decrease from 1907 value of $12,446,394. This decrease was caused by de-
ductions for shipments, stock piles (assessed as personal property) correc-
tions of tonnage estimates hastily prepared for the commission in 1907, and
by revisions of classifications.
—22—
In 1909, there was a further re-classification and the establishment of
rates for active mines, their reserves and sub-reserves, to use in determining
the assessed valuation per ton of iron ore in the ground, as follows:
CLASSIFICATION FOR 1909
Class
Active Mines
Reserves
Sub-Reserves
Cents
Cents
Cents
1
33
21
15
2
30
18
15
3
27
15
10
4
23
11
5
19
10
6
14
••
••
8
And the total assessment made by the Tax Commissioii, after due notice
and a public hearing was $199,008,838 on 1,310,190,194 tons.
In 1910 the Tax Commission made the customary yearly adjustments; of
deductions for shipments and stock piles, of additions for new tonnages and
re^classifications of certain reserves into rates for active mines and the Com-
mission then ordered a general raise of five (5) per cent on all realty in the
townships, villages and cities (except the Village of Gilbert which had no
ore) contained withim the known ore belts of the Vermilion and Mesaba
ranges. This action of the Tax Commission resulted in a total assessed value
of $220,423,038 for 1910 upon a total of 1,347,596,291 tons.
This general raise established new rates for determining the assessed
valuation per ton of iron ore in the ground, for the active mines, reserves
and sub-reserves. The 33-cent class changed to .3465 cents, the 30-oent class
to .3150 cents, etc. The new rates are as follows:
CLASSIFICATION FOR 1910
Class
Active Mines
Reserves
Sub-Reserves
Cents
Cents
Cents
1
.3465
.2205
.1575
2
.3150
.1890
.1575
3
.2835
.1575
.1050
4
.2415
.1155
5
.1995
.1050
6
1470
0840
Re-classification and adjustments are necessarily made every year. From
the remaining tonnage of the previous year must be deducted over-estimates
(subject to verification by the mining engineer to the Tax Commission), ship-
ments and stock piles. New developed tonnage and increases in estimates
must be added and rates must be increased as properties pass from reserves
to active mines.
Since 1908, there has been a yearly increase in tonnage notwithstanding
decreases by revised estimates and shipments, and there has been a largely
increased yearly assessed value.
—23—
The summary of the work of the Tax Commission in assessing the min-
eral properties of the state in 1907-8-9 and 10, the state board assessment
of 1906, and the shipments of those years are as follows:
Remaining
Tonnage
May 1st
Assessed
Value
Minnesota
Shipmenta
1906
$ 64 486 409
25 611 384
*1907
1 192 509 757
186 720 026
29 180 975
*1908. .
1 193 7°8 959
174 273 632
18 098 894
*1909
1 310 190 194
199 008 838
29*284*496
*1910
1 347 596 991
220 423 038
30 317 583
* Assessed value 9! the remaining tonnage only; the assessment of Personalty, Prospects and
Mineral Lands is not included.
The following is a comparative statement of realty assessments on ton-
nages, prospects and mineral lands in towns, villages and cities in the ore
belts of St. Louis and Itasca counties:
State Board of Equalization 1906 $64,486.409
Minnesota Tax Commission 1907 191,706,682
Minnesota Tax Commission 1908 180,210,693
Minnesota Tax Commission 1909 204,526,139
Minnesota Tax Commission 1910 224,669,845
This great work has been accomplished by the Tax Commission without
the slightest friction, without drastic measures of any kind and apparently
with, the feeling among the operators that they were being fairly treated,
and that they had every opportunity of presenting proof and of being heard
at all times on points or questions at issue.
The estimates of the official mining engineer to the Tax Commission,
the School of Mines of the University of Minnesota, and of its representative,
Edward P. JMcCarty, E. M., Professor of Mining, in verifying tonnage esti-
mates, are accepted cheerfully and practically without question. They in-
spire confidence and insure satisfaction to the operators and Tax Commis-
sion.
In fact, some operators know through this source for me first time the
actual facts regarding their property.
The Cuyuna Range is still in its infancy. Exploration work on a large
scale has just begun. There may be hundreds of millions of tons of iron ore
waiting development — only the expenditure of millions of dollars can deter-
mine this. See special Cuyuna Range report in this manual.
The Vermilion Range also may have a new life awaiting it from the
tonnages yet undiscovered.
The Minnesota Tax Commission has brought to light vast tonnages and
values. It has assessed every tonnage property on its own merits regardless
of ownership and by a method that is fair to all concerned
—24—
Net Values of Iron Ores
Average Costs of Production, Administration and Transportation
By Rukard Hurd
As the Valley furnace price establishes the base unit value and
determines the premium and penalty on iron ores, it will be of interest
to know how these factors affect the net value of iron ore, and if the
ratio of fair, remunerative profit is equitably apportioned between mine
and furnace.
To produce one ton of pig iron at Pittsburg, and worth there in 1910
an average of $17.19 for Bessemer, required about 4,000 Ibs. of 55% ore
(or 4,200 Ibs. of 51.50% ore), 2,200 Ibs. of coke and 1,200 Ibs. of limestone,
approximate cost of these items is distributed as follows:
Ore 4,000 Ibs. at $5.00 per ton $8.93 Freight ($1.73 Total $10.66
Ore 4,200 Ibs at 4.00 per .ton 7.50 Freight 1.73 Total 9.23
Coke 2,200 Ibs. at 2.10 per ton 2.31 Freight .83 Total 3.14
Lime 1,200 Ibs. at .53 per ton .28 Freight .35 Total .63
Total cost using $5.00 ore $14.43
Total cost using 4.00 ore 13.00
The net values per ton are $2.76 and $4.19, according to the grade of
the ore used, and they are subject to a deduction for furnace operation and
administration.
The approximate cost of the items named at the Valley furnace is
distributed as follows:
Ore 4,000 Ibs. at $5.00 (per tons $8.93 Freight $1.14 Total $10.07
Ore 4,200 Ibs. at 4.00 per ton 7.50 Freight 1.14 Total 8.64
Coke 2,200 Ibs. at 2.10 per ton 2.31 Freight 1.19 Total 3.80
Lime 1,200 Ibs at .44 per ton .24 Freight .19 Total .43
Total cost using $5.00 ore .$14.30
Total cost using 4.00 ore 12.87
pnd the net values would be in proportion as named from Pittsburg.
In considering the average net values of iron ores a general average
of all producing mines has been taken.
Net values here presented may 'be subjected to further revision for
carrying charges classified as follows:
1. Diversified tonnages needed for mixing and grading
2. Non-profitable, low-grade ore wnich must be mined and shipped as
encountered
3. Reserve ores for distant future use
4. Protracted non-working periods
5. Profit and loss items: (a) Excessive water
(b) Strikes
(c) Fires
(d) Accidents
(e) Other contingencies
(f) Negative explorations
Both gross and net average values have been figured for the year
1910, and for the 19-year period, 1892-1910, inclusive. That is from the open-
ing of the Mesaba Range in 1892 when all iron ranges were in operation.
As values were more or less unstable during the first half of the above
mentioned period, and as Mesaba values had hardly been determined at that
time, another comparative period of 10 years (1901-1910) is given.
—25—
The general average shipments from Minnesota for 1910 approxi-
mates 58.50% iron dried and 11.96% moisture, or 51.55% natural iron,
and indicates the general lowering of grades.
Values based on 55 per cent Bessemer and 51.50 per cent non-Bessemer
are taken instead of on general average cargo analyses. The latter could
be used if the individual shipments of mine groups and trade ore blends
were separately reported.
Gross Value
The 1910 value per ton of ore at lower lake ports is taken as follows:
Bessemer, Old Range — Vermilion $5.00
Bessemer, Mesa'ba 4.75
Non-Bessemer, Old Range — Vermilion 4.20
Non-Bessemer, Mesaba 4.00
Cost Group
The following grouping has been adopted as a basis for general average
estimate of production and delivery at lower lake ports :
1. Production: (a) Mining Cost
(b) Development
(c) Exploration
(d) Depreciation
(e) Supplies and Repairs
2. Royalty
3. Administration: (a) General Office
(b) Profit and Loss
(c) Commissions
(d) Insurance
(e) Taxes
(f) Miscellaneous
4. Transportation: (a) Rail
(b) Vessel
Item 1. Each mine has its own special problem; extremes are often
encountered. While open pit mining is comparatively inexpensive, its cost
for preparatory stripping may largely counterbalance underground mining
costs. Taking into consideration these and other conditions, $1.40 for the
Old Range, $1.25 for the Vermilion and 70 cents for the Mesaba, are adopted
as conservative average estimates for total production costs.
Item 2. Royalty is paid by the operator and depends upon the terms
of the lease; there is a wide range in rates. The average estimate of Old
Range royalties is 38 cents, although many old leases fall as low as 10
and 15 cents. The Vermilion royalties are based on old leases and are
estimated at 33 cents. Old leases on the Mesaba Range call for 15 to 25
cents, but the newer leases with very largely increased royalties, and a
tendency to excess, raise the present average estimate to 50 cents.
Item 3. An average estimate of 20 cents on all ranges is made for
administration costs.
Item 4. Transportation rates are public and fixed. For the Old Range
and the Vermilion they are here averaged.
—26—
These items when assembled present the following table:
GENERAL AVERAGE ESTIMATE COST TABLE
Item
Average Costs
Old Range
Vermilion
Mesaba
1
Production
$1.40
$1.25
$0.70
2
Royalty
.38
.33
.50
3
Administration
.20
.20
.20
4
Transportation :
Rail
.37*
.97*
.80
Vessel
.60*
.70
.70
Total cost
$2.95
$3.45
$2.90
* Averaged.
The following tables show 1910 gross and net values per ton at Lake
Erie for Bessemer and non-Bessemer Ores, containing 55 per cent and 51.50
per cent natural iron:
(a) VALUES OF ORE CONTAINING 55 PER CENT NATURAL IRON
1910
Estimated
Estimated
Lake Erie
Range
Grade
Average
1910
Gross Values
Cost
Lake Erie
Net Values
$5 000
Old Range
Bessemer
$2.95
$2.050
5 000
Vermilion
Bessemer
3.45
1.550
4 756
Mesaba
Bessemer
2.90
1.856
4.556
Old Range
Non-Bessemer . . .
2.95
1.606
4.556
Vermilion
Non-Bessemer . . .
3.45
1.106
4 342
Mesaba
Non-Bessemer . . .
2.90
1.442
(b) VALUES OF ORE CONTAINING 51.50 PER CENT NATURAL IRON
1910
Lake Erie
Gross Values
Range
Grade
Estimated
Average
Cost
Estimated
1910
Lake Erie
Net Values
$4 643
Old Range
Bessemer
$2.95
$1.693
4 643
Vermilion
Bessemer
3.45
1.193
4 409
Mesaba .
Bessemer
2.90
1.509
4 200
Old Range
Non-Bessemer . . .
2.95
1.250
4.200
Vermilion
Non-Bessemer . . .
3.45
.750
4.000
Mesaba
Non-Bessemer . . .
2.90
1.100
The 1910 values are given to illustrate how the 1911 lowering of prices
50 cents per ton on all grades affects profits or net values.
—27—
Referring to the Table of Pri-ces or Ore from 1855 to 1910, on page 52,
assuming that such prices are equivalent to prices on present (base grades,
deducting the foregoing total average costs from the gross value per ton
from each range we have Table No. 1:
COMPARATIVE TABLE NO. 1.
General Average
Gross Values
Range
Grade
General Average
Net Values
1910
10 Year
Period
19 Year
Period
1910
10 Year
Period
19 Year
Period
$5.00
5.00
4.75
4.20
4.20
4.00
$4.32
4.32
3.90
3.53
3.53
3.27
$3.95
3.95
3.39
3.16
3.16
2.75
Old Range..
Vermilion
Mesaba
Old Range..
Vermilion
Mesaba
Bessemer
Bessemer
Bessemer
$2.05
1.55
1.85
1.25
.75
1.10
$ 1.37
.87
1.00
.58
.08
.37
$1.00
.50
.49
.21
—.29
—.15
Non-Bessemer
Non-Bessemer
Non-Bessemer
It may be claimed that the total costs for each range shown in the
General Average Cost Table are excessive by 50 cents per ton for the 19
year period and by 25 cents for the 10 year period, and that production and
royalty costs have largely increased only during recent years. If so, such
conditions are covered in Table No. 2:
COMPARATIVE TABLE NO. 2.
General Average
General Average
Gross Values
Net Values
Range
Grade
10 Year
19 Year
10 Year
19 Year
1910
Period
Period
1910
Period
Period
$5.00
$4.32
$3.95
Old Range..
Bessemer
$2.05
$1.62
$1.50
5.00
4.32
3.95
Vermilion.. .
Bessemer . .
1.55
1.12
1.00
4.75
3.90
3.39
Mesaba
Bessemer
1.85
1.25
.99
4.20
3.53
3.16
Old Range..
Non-Bessemer
1.25
.83
.71
4.20
3.53
3.16
Vermilion.. .
Non-Bessemer
.75
.33
.21
4.00
3.27
2.75
Mesaba
Non-Bessemer
1.10
.62
.35
It can be readily seen from these fixed cost charges and fluctuations
that lowering prices, bad management, great disaster, financial distress
or general adverse conditions may destroy profit and create loss.
The need of a re-classification of certain grades and prices is apparent.
Normal conditions should prevail between ore and iron, mine and furnace,
and prices should move in harmony and practically along parallel lines.
—28—
Present Value of Iron Ore Royalties
Of Mineral Leases Containing Merchantable Tonnage
By Rukard Hurd
Newly Created Wealth Through Mineral Value
The recent development of vast tonnages of iron ore in what has been
considered a wilderness of rock and swamp, without timber and useless for
agriculture and known as "mineral lands" or "wild lands," having previously
only a nominal, speculative or prospective value, has brought to life practi-
cally a new form of value: that of the present worth to the fee owner of the
loyalty on the ore therein covered by a mineral lease.
More and more must this element of value be reckoned with; by the state
in the enforcement of the inheritance taxes, by probate courts in the admin-
istration of estates, and by other courts in adjudication and in> proceed-
ings of receiverships, trusts, bankruptcy, etc., where mineral rights are
involved. Newly developed wealth usually entails litigation as to ownership
and value.
Extent of Capital and Diversity of Ownership
To respond to furnace demands for tonnages of every possible grade,
physical characteristics and structure, and to obtain even a reasonable profit,
mining operations must be conducted on a very extensive scale, Operation,
equipment, supplies, wages, carrying charges, etc., require an enormous
working capital. Therefore very few active mines or reserves containing de-
veloped tonnages of iron ore are owned in fee by the operating company. This
would require an investment of capital as vast in proportion as is the developed
tonnage, and in amount almost beyond comprehension. The Vermilion and
Mesaba Ranges alone have a total of nearly 1,400,000,000 tons of merchan-
table iron ore assessed at $225,000,000, the full value of which approximates
$562,000,000. These mines and reserves have a very large, widely scattered
ownership, resident and non-resident. The known tonnage on the Mesaba
Range is contained within some 35,000 acres. There is an equal or perhaps
larger acreage within the so-called Mesaba "ore belt" either unexplored, or
explored and found barren of iron ore, or located as to almost certainly con-
tain no ore.
Mineral Leases
From the diversified fee ownerships the mine operators have from time
to time secured, ordinarily upon a small payment, what is known as a
"mining option" or the right to explore, and to obtain a lease with the
privilege of mining the ore. These leases are made for a period usually of
fifty (50) years, and the amount of royalty to be paid the fee owner for each
ton of ore mined and shipped is stated therein. The lease also provides
for an annual minimum payment in quarterly installments, being advance
payments on account, and a charge against the maximum royalty on the ore
as mined. Such minimum payment is made quarterly to the fee owner
whether ore is mined or not. It is practically a guaranteed annual income,
rental or annuity.
As a rule these leases are executed when the explorations and drillings
seem to demonstrate that a sufficient tonnage will be developed to justify
—29—
an agreed minimum payment based upon an estimate of expected minimum
shipments. Complete explorations follow in due time and the full extent,
quantity and quality of the ore body is determined. The fee owner receives
regular reports of the explorations and mining. Occasionally leases may
contain modifications, such as a sliding scale of royalty or an increased
royalty for increase in metallic content.
All leases may be surrendered by the lessee upon giving stipulated
notice, usually ninety (90) days, in which event he loses all advance made
on account of annual minimum payments. Under all mineral leases the
operating company pays all taxes and assessments.
Valuation of Developed Leases
The minimum annual payment is a purely estimated, arbitrary amount
and regular royalties range from ten cents (lOc) to one dollar and ten cents
($1.10), and even more, per ton. There is no uniformity in rates. Each
lease must be valued according to its terms and own merits.
On mines or reserves that have been thoroughly explored and where thp
tonnage is developed and the amount and grade of merchantable ore is
known, a simple but accurate method of determining the present or dis-
counted value of the total royalty of a mineral lease is herewith presented.
The Determining Valuation Factors
1. Unexpired period of the lease
2. Amount of merchantable tonnage subject to royalty
3. Total value of the same calculated by the royalty rate per ton
4. Amount of the annual minimum payment or annuity, on esti-
mated tonnage
5. Amount of an annual minimum payment or annuity on actual
tonnage
6. "Life of mine," the term required to mine out the total tonnage
7. Present value of one dollar, per annum, payable quarterly
RULE FOR DETERMINATION OF PRESENT VALUE OF ROYALTIES
Total Royalty
Multiply the tonnage (reduced by the equivalent due by reason of any
overpayment of annual minimum advanced) by the amount of royalty per
ton. The result is the total royalty which the fee owner will ultimately re-
ceive, and it will be paid in, approximately, quarterly installments.
Life of the Mine
Divide the total royalty, as ascertained, by the amount of the annual
minimum payment. The result is the "life of the mine;" that is, the annuity
paying period, or the number of years required to exhaust the ore. Provided,
however, that if this period as calculated extends beyond the lease, then the
tin-expired term oTthe lease should be arbitrarily considered as the "life cf
the mine." It is« safe to assume that the operator will exhaust the ore
during the life of the lease.
Present Value of the Royalty
A — Where total royalty does not exceed total of guaranteed annual minimum
payments
Multiply the annual minimum payment, payable quarterly, by the present
value of one dollar per annum, payable quarterly, at the assumed rate of
interest and for the number of years determined as the life of the mine.
The result is the present royalty value of the lease.
—30— '
B — Where total royalty exceeds total of guaranteed annual minimum pay-
ments
Divide the total royalty by the unexpired term of the lease. The
amount is the adjusted approximate annual minimum which will he paid.
Multiply this annual minimum payment by the present value of one dollar
per annum, payable quarterly, at the assumed rate of interest and for
the number of years of the unexpired term of the lease. The result is the
present royalty value of the lease.
This method is a practical approximation for finding the true present
value of the excess of developed tonnage over the assumed minimum. It
will be specially noted that no general rule can be laid down when determin-
ing factors have yearly variations.
Attention is again called to the assumption that the ore will be ex-
hausted before the expiration of the lease.
Illustration for A
Term of lease 50 years
Unexpired term of lease 30 years
Royalty per ton 25 cents
Complete explorations develop as remaining 2,000,000 tons
Total royalty at 25c per ton, = $500,000
Life of the mine, $500,000 -f- $20,000 — 25 years
Guaranteed annual minimum payments $20,000 x 25 = $500,000.
[At 7%) f $239. 104
Present Value At 8% $20,000 per year, payable quarterly, J 219.796
Present Value <At g% for 25 Years 1 202.962
(At 10% j i 188.210
Illustration for B
Term of lease 50 years
Unexpired term of lease 30 years
Royalty per ton 25 cents
Complete explorations develop as remaining 4,000,000 tons
Total royalty at 25c per ton, = $1,000,000
Life of the mine, the unexpired term of the lease = 30 years
Guaranteed annual minimum payments $20,000 x 30 z= $600,000
Excess of total royalty over annual minimum value $1,000,000 — $600,000 =
$400,000
Adjusted approximate annual minimum payment, $1,000,000-^-30 = $33,333
fAt 7%1 f $424. 332
Present Value At 8% $33'333 Per vear> Payable quarterly J 386.329
rrebent value ^At g% f for 30 years. 1353.803
[At 10%J I 325.773
DETERMINING INTEREST RATE AND FACTORS
While under the conditions named the security of the investment is
unquestioned, for calculating present value the determining interest rate
depends upon a number of factors, such as:
1. Average worth of money at the given time and interest rate ex-
pected for a long time investment.
—31—
2. Fluctuating yearly income as the property passes back and forth
from shipping and non-shipping stages, from large royalty income on ship-
ments one year to minimum annual payments when not operating.
3. Quality of the ore and availability for furnace demands.
4. Amount of the tonnage and the time required under normal mining
conditions to exhaust the ore.
5. Character and standing of the lessee, and his ability to meet the
terms of the lease.
6. Possibility of a surrender of the lease, depending upon whether the
ore is good or lean, monetary situation and the financial condition of the
lessee.
Under all these conditions such an investment demands and is en-
titled to a high rate of interest, even greater than a highest grade pre-
ferred stock or bond security would yield. Capitalists would not entertain
the purchase of such a proposition at ordinary rates of 5, 6 or even 7%.
While 10% seems to be the customary prevailing interest rate, it would
appear that 8% to 10% should be now used in calculating the present value
of iron ore royalties, that is, the investment required to purchase the
royalty rights of a mineral lease containing known, developed tonnage of
merchantable iron ore.
Royalty only Basis of Value
It will be observed that the assessed or full value or market price of
the tonnage is not and should not be considered. That concerns only the
operating company and the tax officials. That value has gone beyond the
control of the fee owner with the lease; his value is in the royalty alone.
Valuation of Undeveloped Leases
On leases of properties not developed, or only partially developed, or
containing present non-merchantable ore, or where in underground mines
an estimate of total tonnage is impossible, any appraisement of royalty
value ibecomes a matter of judgment of experts familiar with mining and
geological conditions.
Accuracy of Information
As has been previously stated in this manual, the exploration is now
so thorough that the outlining of the ore bodies and the securing of accurate
Information to obtain correct estimates of the amount of tonnage and its
grade especially on the Mesaba Range, is now practically a known quantity.
To a certain extent this holds true of many underground mines on other
ranges. Where formeily their ore bodies could be followed, blocked out and
their tonnages known for only a year or two ahead, modern drilling methods
now disclose the geological formation and determine the character and
extent of the ore body.
Tables of Present Values
For convenient reference in connection with this subject standard tables
of present values, quarterly and annual, are embodied with and follow this
article.
—32—
Of THE
UNIVERSITY
OF
PRESENT VALUE OF ONE DOLLAR PER ANNUM
PAYABLE QUARTERLY
At the End of Each Quarter
Due in any Number of Years from 1 to 50, inclusive
Specially Compiled by Rukard Hurd for this Manual
Years
5 per cent
6 per cent
7 per cent
8 per cent
9 per cent
10 per cent
1
0.9701
0.9643
.9587
.9532
.9478
.9425
2
1.8939
1.8740
1.8547
1.8359
1.8174
1.7992
3
2.7738
2.7322
2.6922
2.6531
2.6151
2.5782
4
3.6119
3.5419
3.4748
3.4098
3.3470
3.2863
5
4.4099
4.3057
4.2063
4.1105
4.0186
3.9301
6
5.1700
5.0262
4.8898
4.7593
4.6345
4.5153
7
5.8939
5.7061
5.5287
5.3600
5.1998
5.0473
8
6.5834
6.3474
6.1258
5.9162
5.7182
5.5309
9
7.2398
6.9524
6.6838
6.4312
6.1938
5.9706
10
7.8652
7.5231
7.2053
6-9081
6.6304
6.3704
11
8.4607
8.0616
7.6927
7.3497
7.0307
6.7338
12
9,0280
8.5695
8.1482
7.7585
7.3980
7.0641
13
9.5682
9.0488
8.5740
8.1370
7.7350
7.3644
14
10.0825
9.5009
8.9718
8.4875
8.0442
7.6374
15
10.5725
9.9273
9.3436
8.8121
8.3278
7.8856
16
11.0391
10.3298
9.6910
9.1126
8.5881
8.1112
17
11.4836
10.7094
10.0158
9.3908
8.8267
8.3164
18
11.9068
11.0675
10.3194
9.6485
9.0457
8.5028
19
12.3098
11.4053
10.6031
9.8870
9.2467
8.6723
20
12.6937
11.7240
10.8681
10.1078
9.4310
8.8264
21
13.0594
12.0247
11.1159
10.3124
9.6001
8.9665
22
13.4075
12.3084
11.3474
10.5082
9.7553
9.0938
23
13.7382
125.760
11.5639
10.6772
9.8977
9.2096
24
14.0550
12.8284
11.7661
10.8395
10.0283
9.3148
25
14.3557
13.0666
11.9552
10.9898
10.1481
9.4105
26
14.6423
13.2913
12.1318
11.1290
10.2580
9.4975
27
14.9150
13.5031
12.2969
11.2579
10.3589
9.5766
28
15.1749
13.7032
12.4512
11.3772
10.4513
9.6486
29
15.4224
13.8918
12.5954
11.4877
10.5363
9.7139
30
15.6581
14.0697
12.7301
11.5900
10.6142
9.7733
31
15.8825
14.2377
12.8561
11.6848
10.6855
9.8273
32
16.0963
14.3960
12.9739
11.7725
10.7510
9.8765
33
16.2998
14.5454
13.0838
11.8537
10.8112
9.9210
34
16.4937
14.6864
13.1866
11.9288
10.8663
9.9617
35
16.6784
14.8194
13.2828
11.9985
10.9170
9.9986
36
16.8543
14.9449
13.3725
12.0630
10.9635
10.0321
37
17.0218
15.0633
13.4564
12.1227
11.0060
10.0626
38
17.1813
15.1749
13.5349
12.1780
11.0451
10.0903
39
17.3332
15.2803
13.6082
12.2292
11.0809
10.1155
40
17.4779
15.3796
13.6767
12.2765
11.1139
10.1384
41
17.6157
15.4733
13.7407
12.3204
11.1441
10.1592
42
17.7469
15.5618
13.8005
12.3610
11.1717
10.1781
43
17.8719
15.6453
13.8565
12.3986
11.1972
10.1954
44
17.9909
15.7240
13.9088
12.4335
11.2204
10.2110
45
18.1043
15.7982
13.9576
12.4657
11.2418
10.2252
46
47
18.2123
15.8683
14.0032
12.4956
11.2614
10.2382
48
18.3141
15.9343
14.0459
12.5233
11.2794
10.2499
49
18.4131
15.9967
14.0858
12.5488
11.2959
10.2606
50
18.5062
16.0556
14.1231
12.5726
11.3110
10.2703
18.5951
16.1111
14.1578
12.5945
11.3250
10.2791
—33—
PRESENT VALUE OF ONE DOLLAR PER ANNUM.
PAYABLE ANNUALLY
At the End of Each Year
Due in any Number of Years from 1 to 50, inclusive
Years
5 per cent
6 per cent
7 per cent
8 per cent
9 per cent
10 per.cent
1
0.9524
0.9434
.9346
.9259
.9174
.9091
2
1.8594
1.8334
1.8080
1.7833
1.7591
1.7355
3
2.7232
2.6730
2.6243
2.5771
2.5313
2.4869
4
3.5460
3.4651
3.3872
3.3121
3.2397
3.1699
5
4.3295
4.2124
4.1002
3.9927
3.8897
3.7908
6
5.0757
4.9173
4.7665
4.6229
4.4859
4.3553
7
5.7864
5.5824
5.3893
5.2064
5.0330
4.8684
8
6.4632
6.2098
5.9713
5.7466
5.5348
5.3349
9
7.1078
6.8017
6.5152
6.2469
5.9952
5.7590
10
7.7217
7.3601
7.0236
6.7101
6.4177
6.1446
11
8.3064
7.8869
7.4987
7.1390
6.8052
6.4951
12
8,8633
8.3838
7.9427
7.5361
7.1607
6.8137
13
9.3936
8.8527
8.3577
7.9038
7.4869
7.1034
14
9.8986
9.2950
8.7455
8.2442
7.7862
7.3667
15
10.3797
9.7122
9.1079
8.5595
8.0607
7.6061
16
10.8378
10.1059
9.4466
8.8514
8.3126
7.8237
17
11.2741
10.4773
9.7632
9.1216
8.5436
8.0216
18
11.6896
10.8276
10.0591
9.3719
8.7556
8.2014
19
12.0853
11.1581
10.3356
9.6036
8.9501
8.3649
20
12'.4622
11.4699
10.5940
9.8181
9.1285
8.5136
21
12.8212
11.7641
10.8355
10.0168
9.2922
8.6487
22
13.1630
12.0416
11.0612
10.2007
9.4424
8.7715
23
13.4886
12.3034
11.2722
10.3711
9.5802
8.8832
24
13.7986
12.5504
11.4693
10.5288
9.7066
8.9847
25
14.0939
12.7834
11.6536
10.6748
9.8226
9.0770
26
14.3752
13.0032
11.8258
10.8100
9.9200
9.1609
27
14.6430
13.2105
11.9867
10.9352
10.0266
9.2372
28
14.8981
13.4062
12.1371
11.0511
10.1161
9.3066
29 .
15.1411
13.5907
12.2777
11.1584
10.1983
9.3696
30
15.3725
13.7648
12.4090
11.2578
10.2737
9.4269
31
15.5928
13.9291
12.5318
11.3498
10.3498
9.4790
32
15.8027
14.0840
12.6466
11.4350
10.4062
9.5264
33
16.0025
14.2302
12.7538
11.5139
10.4644
9.5694
34
16.1929
14.3681
12.8540
11.5869
10.5178
9.6086
35
16.3742
14.4982
12.9477
11.6546
10.5668
9.6442
36
16.5469
14.6210
13.0352
11.7172
10.6118
9.6765
37
16.7113
14.7368
13.1170
11.7752
10.6530
9.7059
38
16.8679
14.8460
13.1935
11.8289
10.6908
9.7327
39
17.0170
14.9491
13.2649
11.8786
10.7255
9.7570
40
17.1591
15.0463
13.3317
11.9246
10.7574
9.7791
41
17.2944
15.1380
13.3941
11.9672
10.7866
9.7991
42
17.4232
15.2245
13.4524
12.0067
10.8134
9.8174
43
17.5459
15.3062
13.5070
12.0432
10.8380
9.8340
44
17.6628
15.3832
13.5579
12.0771
10.8605
9.8491
45
17.7741
15.4558
13.6055
12.1084
10.8812
9.8628
46
17.8801
15.5244
13.6500
12.1374
10.9002
9.8753
47
17.9801
15.5890
13.6916
12.1643
10.9176
9.8866
48
18.0772
15.6500
13.7305
12.1891
10.9336
9.8969
49
18.1687
15.7076
13.7668
12.2122
10.9482
9.9063
50
18.2559
15.7619
13.8007
12.2335
10.9617
9.9148
—34-
Prospecting, Mining and Ore Estimating
Methods in Minnesota
With Special Reports on the
Western Mesaba and Cuyuna Ranges
A Reprint from the Second Biennial Report, 1910, of the
Minnesota Tax Commission
PROSPECTING FOR IRON ORE
In metal mine prospecting the percussion drill is largely used for iron,
zinc, lead, gypsum and coal worK.
The churn drill or form of percussion drill as used on the Mesaba
Iron Range consists of a chisel drill on an extensible hollow rod. This
rod is attached by a flexible coupling to a pump which forces a stream of
water into the hole and out of perforations near the attachment to the
bit. This water returns inside the casing, which is an ordinary pipe, 3
inches in diameter when in surface material and 2 inches in rock and ore.
The drill is manipulated by a rope passing several times over a drum driven
by a 6 to 8 horsepower oscillating engine, and the "jerk" is given by a man
tightening or slacking the rope coil. The drill is rotated by hand, the driller
standing on a platform built in the tripod. When boulders are encountered
they are blasted out with dyanmite. A churn drill outfit, boiler and all,
costs from $1,000 to $2,000.
When taconite or hard slate is struck the churn drill has to be aban-
doned and the diamond drill is used until it passes through the taconite
into the ore. It is customary to blast out the hole and force the casing
down and then resume drilling with the churn drill. This blasting is done
by suspending in the hole two or more sticks of dynamite and firing them
with a battery. The casing, which had been partly pulled out, is then forced
down with a drive weight, and the churn drill inside chops out the hole
until the casing can follow to the bottom of the hole. A churn drill will
make from 5 to 25 feet a day in a formation in which it can be used at all.
Three men are required to run it. Wood and water hauling may run up
expenses — sometimes requiring a team for each.
The surface indications of iron are meager and not very reliable. Some
of the explorations have taken into account the topographical features of
the district, and the theoretical geological conditions, but generally a tract
located on or in the vicinity of the ranges is selected and drilled without
regard to indications on the surface. The unit of explorations is forty
acres, and this is called locally a "forty." The federal mining laws do not
apply in Minnesota so the property is included in the vertical boundaries
of the tract. The usual test for a forty-acre tract is to put five holes —
one in the center and four 300 feet toward the center from each corner.
However, drilling five holes is not considered a final test.
In proving up an ore body or testing completely, the practice is to divide
the property into squares of 300 feet each, commencing 100 feet inside of
—35—
the forty line, and drilling on the intersections. The Oliver Iron Mining
Company ignores the survey lines, which are very irregular; they tie the
tract to some surveyed property and lay it off in squares of 100 feet each.
Drill holes are then sunk on each second and third intersection accord-
ing to the purposes of the test and the intersections are taken alternately so
as to leave the smallest possible radius of undrilled land. Sometimes, in
drilling for development, it is necessary to put holes in at closer intervals;
especially where the work is along the edge of an irregular deposit. The ore
bodies do not always taper out.
Most of the drilling is done by contract. The usual contract price is
$3.00 per foot for churn drill and $6.00 per foot for diamond drill work. In
some cases the diamond drill work costs more. Considerable test pitting
is done ?.t the surface at a cost of $1.60 to $2.00 per foot, a ten cent increase
for each 10 feet after the first 20 feet being customary. Daily reports of
the work are made to the contractor and frequent reports to the parties
interested. Samples are taken every 5 feet, and wherever the formation
changes, these samples are usually analyzed for iron, phosphorus, mangan-
ese and silica. The drill results are platted showing the location and the
record of the holes. These reports are signed and dated and are considered
reliable data as to the property. The contractors are well known and
responsible, and misleading or false reports are rare.
The drill holes vary much in depth in different districts; near Hibbing
one hole is over 350 feet in ore. It is a rule when ore is found to go through
it. If quartzite is found this is taken as final, but most of the ore bodies
are bottomed in taconite and sometimes the drill will go through a bed of
ore into a taconite layer and then again into ore. It is generally believed
that much ore exists below the present bottom. The old rule was to stop
when taconite was found, but some of the best ore bodies are found to be
below the taconite. Usually these are the extensions of ore bodies which
outcrop to the north. In some parts of the range the finding of taconite
under the surface is considered a good indication of an ore body beneath.
In seme of the mines jumper drills worked by man power are used to
check the grade of the ore or do surface work. The Mahoning mine sunk
numerous test pits in the ore body to determine the character and grade
in advance of mining. Much test pitting and drilling is now done before
any property is considered sufficiently well known to permit planning its
mining.
The cost of the diamond drill outfits in use is from $2,500 to $4,000;
the shallow nature of the work permitting a comparatively cheap equip-
ment.
Prospecting on the Vermilion range is generally done with a diamond
drill, followed up by the sinking of shafts and the driving of drifts after
the ledge has been struck. On the Cuyuna range churn and diamond drills
are used. The holes are much deeper as a rule than on the Mesaba and
in case of the diamond drill work frequently driven on an angle. The con-
tract price on the Cuyuna is $2.00 per foot for churn drilling and $4.00 per
foot for diamond drilling.
MINING METHODS
On the Vermilion range the mining is confined to underground work
and this will be the method employed upon the Cuyuna range. On the
Mesaba range conditions are such that a large part of the mining may be
—36—
done by open pit work. The ore ledges on the Vermilion stand at angles
approaching 80 degrees and in some cases are vertical. The ore is hard —
so hard that the ordinary air drill makes very slow progress through it and
the expensive diamond drill must be largely used, both for mining and ex-
ploring the formation. A large amount of explosives is required to break
the ore into small enough pieces to permit loading. The Cuyuna range
ore, while not as hard as Vermilion ore, nevertheless will be more expensive
to mine than that of the Mesaba range.
Open Pit Mining
The Mesaba ore is soft. It lies near the surface in an almost horizontal
plane, with a covering of 20 feet or more of glacial drift composed of sand
and clay in which there are many huge boulders. The ore bodies vary in
size but are fairly uniform in most respects. They may be a mile or more
m length, though this is unusual. The width of the body sometimes reaches
a half mile, with a thickness running from 50 to 300 feet. The open pit
method is much used, both for stripping over burden and mining ore. There
are, however, many deposits where open pit mining cannot be employed.
Its application is determined by the thickness and extent of the ore body
relative to the overburden; the character of the ore; the distance of haul
to the dump, etc. The increasing efficiency of the steam shovel, the greater
cost of timbering and the lack of skilled miners necessary for underground
mining, all have contributed toward extending open pit mining.
In open pit mining the ore body is reached by removing the overburden
with a steam shovel, not unlike that used in railroad excavation work.
Many million cubic yards have been stripped to lay bare the ore bodies
and recently a stripping depth of 150 feet, involving seven million cubic
yards of stripping, was undertaken. The steam shovel has removed more
material on the Mesaba range than the total excavation required for the
Panama canal.
A shovel crew consists of an engineer, a crane man, and four pit men
to prepare the road bed and lay the track upon which the steam shovel
stands. A "spotter" keeps the stripping train which stands on a parallel
track moving as the successive cars are filled. The shovel lifts four or
five tons at a time from the bank and dumps its load into cars. In many
cases it is necessary to shake up the earth by the use of powder. Charges
are placed in drill holes a short distance back from the edge of the bank,
and on exploding the charge, which is done by means of the ordinary
fuse and cap, the bank is loosened up to permit easy working for the
shovel. The large boulders require breaking up by the use of dynamite.
The dump cars loaded by the steam shovel are hauled to the dump by a
"dinky" engine or by engines weighing as much as 60 tons.
In this way the ore is cleaned off and made ready for mining, the final
cleaning up of the top of the ore being done by men with shovels and
wheelbarrows. The ore is so soft that the shovel frequently digs it with-
out .blasting, though in general black powder is used to shake up the mass.
It is the universal practice to load the ore direct from the pit into railroad
cars which are drawn out three to ten at a time by a standard gauge loco-
motive. In this way the deposit is worked down bench by bench, until
a little of the rim only is left. The grades become too heavy for the loco-
motive or the deposit too thin and underground mining finishes the work.
The ore is generally carried in steel cars which have a nominal capacity
—37—
of 50 tons each, actual capacity 46 tons. A standard shovel weighs 90 tons,
and one crew can load up to 8,000 tons of ore per ten-hour day, with 4,000
or 5,000 as an average day's work. Both stripping and ore handling are
done on a two-shift basis of ten hours each. Work is suspended on Sunday
except that of repairing the shovels.
Milling System
The milling system is a combination of open pit and underground min-
ing. The ore is stripped as in open pit mining. A shaft is sunk near the
edge of the ore body and drifts are run into the ore, say 60 feet below
its top. Raises are made from the drift to the surface and through these
the ore is "milled" down into chutes, loaded into cars and hauled by mules
or electric power to the shaft where it is hoisted to the surface and dumped
into railroad cars. When the ore is very soft it may be "milled" into the
raises by use of the pick alone — In other cases blasting must be resorted
to. In some cases the steam shovel is used to throw the ore into the
"mill." As the "mill" becomes larger it finally becomes too dangerous for
the miner on account of the steepness of the sides and underground mining
methods must be used. A relatively small amount of ore has been won on
the Mesaba by "milling."
UNDERGROUND MINING
Only a few deposits permit the removal of all the ore without resorting
to underground mining and many mines may be worked only by under-
ground methods. Formerly the square set system, much used in metal
mining elsewhere, was the accepted method on the Mesaba. While satis-
ractory in the main and still employed to a limited extent in a few places
this method has given way to the "slicing and caving" system which is
effective and economical. Nearly all the ore is recovered. The method
consists in beginning at the top of the ore and working out a slice, dropping
the surface as the work goes on. The caving of the surface is necessary
on account of the character of the roof, which is generally sand or a gravel.
A shaft is sunk as in the milling system and a drift is run into the ore.
Sub-levels are then driven at distances from 8 to 14 feet high and raises
are run to the top of the ore. The ore is sliced out just wide enough to
carry the roof while working. The ore is shoveled into the raises, at the
bottom of which a chute is set from which the ore is drawn direct into mine
cars. As each slice is taken out the overburden is caved — either of its
own weight or is blasted down. This overburden packs so as to hold up
laterally with a little temporary timbering and lagging.
Slice after slice is taken until the whole top of the ore body has been
drawn into the raises, when the same process is gone through on the nexi
sub-level. The floors of the slices are covered with plank or boards so
as to keep the sand from mixing with the ore and to make a roof for the
next slice below. This floor under the sand follows the ore down with
each slice. This general system has a number of modifications, permitting
it to be used on the other ranges. It calls for the use of a small amount of
timber and is comparatively free from accident to miners.
Regarding the three methods of mining in vogue it may be said in gen-
eral that underground mining is increasing while open pit work has reached
Its maximum service.
—38—
ORE ESTIMATES
Mesaba Range
To make an "ore estimate" certain recognized principles must be
adapted to the particular case in hand, for each property presents an indi-
vidual problem. In general, it may be said that a total tonnage estimate is
the one first made. This will suffice in case of reserve ore bodies, and needs
but little adjustment, provided the ore body has been thoroughly drilled.
Where the drill data is incomplete, it will be necessary from time to time
to revise the ore estimate.
As to the method it may be briefly stated as follows: The outline of
the ore body is established from the drill holes. The ore lying without
the outer rim of holes is elliptical in outline and triangular in cross section.
Inside this outer limit of the ore body is drawn a line connecting the cen-
ters of the bases of all these triangles. This line should Be midway between
the crest and toe of the slope of the ore bank.
The area inclosed, multiplied by the average depth of ore in all holes
within the area, is the total volume of ore.
The number of cubic feet per ton for various grades of ore has been
established by experience dealing with every part of the ranges and it
varies from 13 cubic feet for 62 per cent iron to 17 cubic feet for 49 per
cent iron. All analyses are based on the dried samples.
The ore is carefully graded into: (a) bessemer, (b) non-bessemer, and
in some cases, into (c) ore material.
The limiting analyses are about as follows:
Iron
per cent
Phos-
phorus
per cent
Silica
per cent
Mangan-
ese
per cent
61.55
.047
4.6
1.0
^on» Bessemer
57 20
099
7 2
1.5
All ore above 49 per cent is considered merchantable.
The ore material class is made up of the ore lying between 40 per
cent and 49 per cent. It may or may not have commercial value, depending
upon whether it can be washed or concentrated.
Furthermore, from the drill records and the locations of drill holes,
cross sections of the ore body may be made. The sections may be made
by passing vertical planes through adjoining holes; then all the planes
(in practically the same plane) joined together, constitute a section. By
many engineers a plane is passed which cuts as many of the holes in one
directioa as possible, and those holes not on the section are projected
upon it. This second method is simple and can be used in making esti-
mates without a correction for the length of section due to the broken
planes.
If inaccuracy occurs in that the hole is off the section and it does not
show the true depth of ore at the place indicated, interpolation may be
used to correct this depth from adjoining holes by a section at right angles
to the one in question.
—39—
The ore sometimes ends abruptly against rock and then again will run
out in long lenses. In general it may be stated that the edge of the ore
body is placed at a distance outside the outer rim holes equal to the depth
of ore in the hole. An examination of the sections will show the different
grades of ore more or less continuous in layers. From these sections
carefully drawn to scale their areas may be measured and by the method
cf "average end areas" the total volume of the body obtained and the num-
Der of tons computed. This cross section method usually checks closely
the first method described.
As the shipments are made from each property the number of tons
shipped is annually deducted so that the ore remaining in the mine is
checked up each year.
Where doubtful drill records, irregular, or large rock intrusions render
the above described methods unsatisfactory, it becomes necessary to make
a "pillar estimate" in order to ascertain the tonnage in the mine. This con-
sists in measuring up the ore pillars from the underground maps, giving
due consideration to "probable ore," thus determining the ore tonnage.
Vermilion Range
Estimates are made for this range by measuring up the pillars of ore
from the underground maps.
WESTER'N MESABA RANGE ESTIMATES
Special Report
The distinguishing feature of the Western Mesaba ore formation is
the incompleteness and irregularity of the alteration as compared with
Eastern Mesaba. The ore bodies show all gradations from ferruginous
chert to completely oxidized iron ore almost free from silica and alumina.
The ore may be generally characterized as silicious, carrying from 30%
to slightly over 60% iron; the phosphorus compared with Eastern Mesaba
ores is notably low, rarely a'bove 0.05% and frequently as low as 0.01%;
the percentage of silica varies from 25% to 75% — 35% being perhaps a
normal silica percentage. This silica or "sand" is not water-worn, — it con-
sists of small sharp fragments derived from the disintegration of the fer-
ruginous chert, the so-called "iron-bearing taconite."
Experiments in concentration indicate that, while much of the silica
is so combined with iron as to be wholly unsusceptible of concentration, the
probabilities are decidedly in- favor of concentration — or more correctly
speaking, washing — being developed to a commercial success.
The softness of the ore formation practically limits drill prospecting
to churn drilling. Since much of the ore is largely composed of the sharp
"sand" just referred to it is difficult if not impossible to judge from an
examination of the drillings (which consist wholly of sharp fragments)
whether the stratum passed through is taconite or paint-rock, or whether it
is material that can be commercially washed.
Recent development by test pits and raises has disclosed large quantities
of "paint-rock." One of the distinguishing features of paint-rock on Eastern
Mesaba is the presence of comparatively large percentages of alumina and
phosphorus which are readily determined by analysis. On the Western
Mesaba the paint-rock contains so little alumina and phosphorus that de-
pendence cannot be placed upon the chemical analysis of drill samples
to distinguish between paint-rock and ore. Until quite recently ore esti-
—40—
mates in the Western Mesaba district were based wholly upon chemical
analysis. Three grades were established: First, a non-Bessemer shipping
ore containing 57% iron and 0.04% phosphorus of which quite a little tonnage
was developed. Second, a first-class silicious ore averaging 49% iron and
0.04% phosphorus. Third, a second-class silicious ore averaging 40% iron
and 0.04% phosphorus. It was assumed that the bulk of the silicious ore
could be successfully raised to merchantable grade by washing. The sink-
ing of test pits quickly showed a wide variation in chemical analysis of
churn-drill samples and test pit samples from the same stratum. This
variation was caused by a washing away of silica and alumina and concen-
tration of iron due to the churning action in the drill hole. The alumina !n
some cases was reduced from 17% to 0.2%, while the iron was correspond-
ingly increased, — in some instances sufficiently to make drill samples run
7% higher than test-pit samples.
This selective or concentration action within the drill hole might readily
make a poor class of paint-rock appear to be a good grade of non-Bessemer
ore; it might readily show a large tonnage of washable ore in ground which
really averaged as low as 30% iron.
A number of comparisons between drill hoJe and test-pit data show that
a concentration of iron in the drill hole is inevitable. The degree of
concentration varies greatly but would seem to average about 4%. There-
fore in grading this 4% reduction has been adopted.
The impracticability of using the chemical analysis as a basis for the
classification of the ore as "washable" and "non-washable" led to the adop-
tion of a classification of test-pit and drill samples, according to physical
characteristics into "ore" — "sand and ore" — "paint-rock" and "taconite." A
number of estimates were made on this plan by a leading mining company
but its engineers have now abandoned the method as unsatisfactory.
It would be impossible for two men, however expert and conscientious,
to check within reasonable limits on an ore estimate based purely on the
physical characteristics of drill samples. Therefore estimates are based on
the chemical analysis.
As a matter of fact, present day estimates in the Western Mesaba
district are largely speculative and will so remain until the washing plant
now in construction at Coleraine has thoroughly tested out the various ore
bodies, determining the ratio of washable to non-washable ore and the ratio
of concentration.
CUYUNA RANGE ESTIMATES
Special Report
The deposits are irregular in shape. The drilling shows them in the
form of lenses which are commonly narrow and may be single or double;
when double they are parallel and are separated by lean material. There
are no outcrops and no topographic features to indicate the presence of an
ore deposit. The iron-bearing formation continues for miles though the
bodies of ore are small and in general end abruptly; the greatest length
is approximately 2,000 feet.
Two hundred (200) feet is probably close to the average width for the
north part of the range, while the width is considerably less on the south
end.
—41—
The greatest depth shown to date is 850 feet. Greater depths are ob-
tained on the north than on the south range. Four hundred and fifty (450)
feet is in all probability a fair average depth. These lenses of ore are
pitched at a high angle in many cases nearly vertical.
Samples taken* from the Kennedy mine, situated in the N1/^ of the
of Section 30-47-28, averaged 57.06 per cent iron, .119 per cent phosphorus,
.61 per cent manganese, 11.10 per cent silica with a moisture of approximate-
ly 10 per cent. This is typical of the ore as it is found on the north end
of the range. The percentage of iron is lower on the south end. Cuyuna
ores are hydrous and silicious limonites, usually red or brown in color,
intermixed with paint-rock. Some hematites are found. From present indi-
cations the percentage of iron is higher near the top of the ore body and
decreases with depth.
Over the range in general the phosphorus is higher than that just
shown in the Kennedy mine. Bessemer ore seems to exist only in very
small quantities.
Manganese will run about as shown in the Kennedy.
Silica is high and usually increases as the iron decreases until the
ore becomes too lean to be merchantable.
Moisture is as yet largely undetermined, but it may in some cases reach
14 per cent.
The texture of the ore runs from soft, slaty to a dense, hard, silicious
ore.
The ore will probably be rated only as of medium grade. Its physical
characteristics make it a desirable furnace material, while low iron and
high silica detract from its value.
Mining must be done entirely iby underground methods — no stripping
being possible. At present the Kennedy mine owned by Rogers, Brown &
Company is the only one hoisting ore. Two levels are opened up on this
property and a stock pile has accumulated awaiting the completion of the
railroad and ore docks. The season of 1911 should see a fair production
from this mine.
The Meacham shaft of Rogers, Brown & Company in the NE1^ of the
NE*4 of Section 11-46-29 is made of concrete and has been sunk 78 feet to
the ledge and will be continued to 400 feet in depth. Railroad tracks have
been provided for this shaft and the property should be a producer in 1911.
At Ironton a location is now building and a shaft just begun in the
SE^ of the NE%, Section 10-46-29. Tracks and yards are already in place.
This property also belongs to Rogers, Brown & Company.
There are no other active mines at present on the Cuyuna range.
—42—
IRON MINES OF THE MARQUETTE RANGE
With 1910, Prior and Total Shipments From Each Mine
Reprinted from the Iron Trade Review
Shipments
1910
Prior
Total
American (Sterling)
163,290
240,339
403,629
Austin
188,588
433,037
621,625
Beaufort (Ohio)
23,427
566,705
590,132
Bessie
59,097
59,097
Breitung Hematite
114,202
301,583
415,785
Cambria
150,422
2,037,727
2,188,149
Champion
18,746
4 394 385
4,413,131
*Cleveland-Cliffs Group
955 374
21 449 896
22,405,270
East New York
327,604
327,604
Empire
53,687
203,095
256,782
Foxdale
31,447
31,447
Hartford
183,471
1,766,951
1,950,422
Imperial
83,404
376,691
460,095
Jackson
40,320
3,885,213
3,925,533
Lake Angeline
244 923
8 285 460
8 530 383
Lake Superior
271 445
14 961 563
15,233,008
Lillie
10,121
1 748 490
1,758,611
Lucy (McComber) . ...
11,257
519 031
530,288
Maas
208,103
220 611
428,714
Magnetic (stock pile)
292
292
Mary Charlotte
197,522
1,057,184
1,254,706
Mitchell
23,428
29,319
52,747
Moore
68 131
68,131
Negaunee
348 818
3 662 127
4 010 945
New York (York)
1 123 071
1,123,071
Palmer ... .
14 172
14,172
Portland
49,584
79 652
129,236
Princeton (Swanzey)
89,441
1 271 761
1,361,202
Queen (Blue)
230,119
5 992 421
6,222,540
Republic
150,732
6,193,471
6,344,203
Richmond
95 772
688 455
784,227
Rolling Mill
115,193
578,916
694,109
Star West (Wheat)
204 649
204,649
Stegmiller
48,842
39869
88,711
Stephenson
225,726
122 968
348,694
Volunteer
1,419,197
1,419,197
Washington
96 769
65 341
162,110
Webster
34 905
34,905
Winthrop (Marquette)
1 912 022
1,912,022
Miscellaneous
5 537,143
5,537,143
Total
4 392 726
91 903 991
96,296,717
"Cliffs, Lake, Moro and Salisbury Mines.
IRON MINES OF THE MENOMINEE RANGE
With 1910, Prior and Total Shipments From Each Mine
Reprinted from the Iron Trade Review
Name of Mine
Shipments
1910
Prior
Total
Alpha
1 370
1 370
Antoine . .
1 353 792
1 353 792
Aragon
241 046
5 836 281
6 077 327
Armenia
65 473
311 608
377 081
Baker ... .
39 417
45 003
84 420
Baltic ... .
171 930
1 168 663
1 340 593
Berkshire
97 999
37 735
135 734
Breen . . .
75 425
75 425
Bristol (Claire)
270 742
2 185 367
2 456 109
Calumet
121 354
121 354
Caspian ....
171 334
527 971
699 305
Chapin (Ludington)
465 543
17 183 934
17 649 477
Chatham . . .
51,988
129 439
181 427
Clifford . . .
91,081
103 626
194 707
Columbia
942 703
942 703
Commonwealth
89,116
2 511 784
2 600 900
Crystal Falls
1 735 251
1 735 251
Cuff
58 419
58 419
Cundy (Quinnesec)
1 344 645
721 321
Dober (Riverton)
84,269
2 110 877
2,195 146
Dunn
136,144
1 521 871
1 658 015
Eleanor (Appleton) .
18 719
18 719
Fairbanks (P't R.) .
379 789
379 789
Florence
239,161
2 718 019
2 957,180
Fogartv .
51,071
117,865
168,936
Forest
11 988
11,988
Genesee (Ethel)
66,185
471,439
537,624
Gibson
45,202
57,151
102,353
Great Western . ...
80,709
1,872,228
1,952,937
Groveland .......'
26,462
74,092
100,554
Hemlock
115,407
1,589,818
1,705,225
Hiawatha
128,884
485,612
614,496
Hilltop
20,229
20,229
Hollister
49,434
46,982
96,416
Hope
28,530
28,530
James
78,388
152,971
231,359
Keel Ridge
93 101
93 101
Kimball
16,224
16,224
Lamont (Monitor)
3,183
555 341
558,524
Lincoln ...
241 627
241,627
—44—
IRON MINES OF THE MENOMINEE RANGE— Concluded
AND BARABOO DISTRICT
With 1910, Prior and Total Shipments From Each Mine
Reprinted from the Iron Trade Review
Shipments
1910
Prior
Total
Loretto
116,048
1,195,020
1,311,068
Mansfield
114,357
1,102,998
1,217,355
McDonald . . .
6,022
1,144
7,166
Michigan ...
17,922
153,797
171,719
Millie (Hewitt)
368,267
368,267
Monongahela
9,310
9,310
Munroe
20,022
278,556
298,578
Nanaimo
373,765
373,765
Northwestern
35,810
35,810
Penn Iron Mining Company
344,760
8,500,375
8,845,135
Pewabic ....
380,376
6,936,789
7,317,165
Quinnesec . .
744
3,147
627,215
Saginaw (Perkins)
502,985
502,985
Sheridan
116,299
116,299
Tobin
235,812
1,394,737
1,630,549
Tully
2,726
2,726
Verona
130,975
130,975
Vivian
14,827
405,412
420,239
Youncs
98,399
375,385
473,784
Zimmerman
25,555
12,135
37,690
Miscellaneous
1,057,306
1,057,306
Total
4,237,738
71,213,055
75,450,793
BARABOO DISTRICT
(In Wisconsin)
Illinois
309,741
309,741
Iron Ridge
14,487
158,994
173,481
Mayville
77,195
411,892
489,087
Total
91,682
880,627
972,309
—45—
IRON MINES OF THE GOGEBIC RANGE
With 1910, Prior and Total Shipments From Each Mine
Reprinted from the Iron Trade Review
Name of Mine
Shipments
1910
Prior
Total
Anvil
7 235
766 962
774 197
Ashland
231 506
5 386 884
5 618 390
Atlantic
79 847
1 547 123
1 626 970
Brotherton
102 626
1 752 498
1 855 124
Gary (and Superior) .
205 674
2 540 147
2 745 821
Castile
20,197
35 247
55 444
Chicago
68 727
68 727
Colby
194,754
2 450 347
2 645 101
Davis (Wisconsin)
103 961
103 961
Eureka
41,611
462 134
503 745
Geneva
7 108
7 108
Harmony (Germania) . .
20,080
422 239
442 319
Hennepin ...
259 733
259 733
Iron Belt
66,627
1 185 502
1 252 129
Ironton . . .
109,925
848 985
958 910
Jack Pot
99 090
99 090
Meteor (Comet)
216 367
216 367
Mikado . . .
52,715
997 085
1 049 800
Montreal
187,325
2 804 485
2 991 810
Newport
1,182,324
5 845 039
7 027 363
*Norrie Group
1,333,006
24 052 924
25 385 930
Ottawa (Odanah) ...
83,389
481 359
564 748
Palms
1 284 489
1 284 489
Pence
8,954
40 566
49 520
Pike
3,324
98 732
102 056
Puritan (Ruby)
50,019
109 572
159 591
Shores
55 808
55 808
Sunday Lake
115,486
1 306 975
1 422 461
Tilden
99,937
5 088 635
5,188 572
Upson
11 375
11,375
Winona
10,500
10 500
Yale (West Colby)
108,253
373 173
481,426
Miscellaneous
117,232
117,232
Total
4,315,314
60,820,503
65,135,817
*Norrie, N. Norrie, E. Norrie, Aurora, Pabst and Vaughn Mines.
IRON MINES OF THE MESABA RANGE
With 1910, Prior and Total Shipments from Each Mine
Reprinted from the Iron Trade Review
Name of Mine
Shipments
1910
Prior
Total
Adams
1,258,295
135,685
152,834
12,585,828
288,927
923,881
207,650
1,731,036
82,175
231,699
2,143,028
13,844,123
424,612
1,076,715
207,650
1,998,619
107,579
233,351
2,143,028
17,673
874,026
9,665,922
123,303
379,814
8,892,513
1,198,879
713,048
241,343
2,581^229
152,075
3,471,597
16,987
2,543,402
913,713
837,761
1,147,391
1,380,267
319,453
171
1,794,472
1,855,846
7,214
135*636
19,617,649
248,540
360,057
1,743,622
145,069
3,268,586
1,331,576
2,203,461
462,275
546,882
27,711
Adriatic
Asjnew
Ajax (Kanawha)
Albany
267,583
25,404
1,652
Alberta
Alexander
Auburn ... .
Bansror
17,673
117,173
544,353
57,789
110,630
1,032,815
1,105,160
Bessemer
756,853
9,121,569
65,514
269,184
7,859,698
93,719
713,048
241,343
1,946,993
152,075
2,942,375
16,987
2,201,854
636,176
678,192
1,075,759
1,278,034
319,453
171
1,737,233
1,668,853
Biwabik
Brav
Brunt
Burt
Canisteo
Canton
Cass
Chisholm
634,236
Cincinnati
Clark
529,222
Columbia
Commodore
341,548
277,537
159,569
71,632
102,233
Corsica
Crosby
Croxton
Cyprus . .
Day
Diamond
Duluth
57,239
186,993
7,214
53,009
1,485,099
8,264
204,640
31,614
Elba
Elizabeth
Euclid
82,627
18,132,550
240,276
155,417
1,712,008
145,069
2,985,287
1,220,788
1,917,410
164,514
238,873
Fayal
Forest
Fowler
Franklin
Frantz
Genoa
283,299
110,788
286,051
297,761
308,009
27.711
Gilbert
Glen
Grant . .
Hanna
Harold..
—47—
IRON MINES OF THE MESABA RANGE— Continued
With 1910, Prior and Total Shipments from Each Mine
Reprinted from the Iron Trade Review
Name of Mine
Shipments
1
1910
Prior
Total
Hartley
113,512
224,406
82,393
151,854
801,088
390,108
1,545,523
418,336
1,111,146
503,620
1,769,929
500,729
1,263,000
801,088
8,314
270,864
814,780
168,553
15,580,481
33,575
1,109,609
213,317
945,644
339,695
1,197,269
58,406
493,017
4,962,469
116,422
1,406,403
958,016
2,877,892
1,846,005
2,463,165
121,391
109,086
15,267
83,922
14,046,855
1,116,360
131,318
220,765
4,392
1,349,747
17,486
966,974
36,581
680,495
77,117
628,899
8,681,082
279,296
17,198,817
Hawkins
Hector (Hale)
Higgins No. 2
Hill
Hobart
8,314
270,864
400,907
Holland
Holman
413,873
168,553
3,189,975
f 8,227
231,842
Hudson
Hull-Rust
12,390,506
25,348
877,767
213,317
925,330
196,789
795,349
7,464
472,668
4,962,469
94,722
1,277,745
768,970
2,262,496
858,095
2,144,253
121,391
109,086
Humphrey
Iroquois ...
Jennings
Jordan
20,314
142,906
401,920
50,942
20,349
Kellogg
it. »s
Ivinney ... . ........
Knox
La Belle
*Lake Superior Group
Larkin (Tesora)
21,700
128,658
189,046
615,396
987,910
318,912
La Rue
Laura
Leetonia
Leonard
Lincoln
Longyear
McKinley
Mace
15,267
83,922
1,515,723
72,035
23,265
Maderia
Mahoning . .
12,531,132
1,044,325
108,053
220,765
"i,133',484"
16,523
900,463
557,315
7,614
628,899
7,316,409
279,296
17,198,871
Malta
Mariska
Mayas
Meadow
4,392
216,263
963
66,511
36,581
123,180
69,503
Miller
Miniiewas
Minorca
Mississippi
Mohawk
Monica
Monroe
Morris
1,364,673
Morrow
Mountain Iron (Aetna)
*Burt, Hull and Hull-Rust Mines.
fA Trespass.
IRON MINES OF THE MESABA RANGE— Concluded
With 1910, Prior and Total Shipments From Each Mine
Reprinted from the Iron Trade Review
Name of Mine
Shipments
1910
Prior
Total
Myers . .
131,440
914,736
1,046,176
Nassau
39
31,112
31,151
Onandaga . . .
61,935
90,797
152,732
Pearce
60,411
242,830
303,241
Pearson
78 133
68,683
146,816
Penobscot
706 071
706 071
Perkins
80,622
59,029
139,651
Pettit
62,456
496,830
559,286
Pillsbury
1,640.265
1,640,265
Roberts
26,915
190,154
217,069
Sauntry-Alpena
242,373
700,140
942,513
Scranton
1 168
1.168
Sellers
954,042
2,870,890
3,824,932
Seville
2,677
23,585
26,262
Schley
13,369
13,369
Sharon
329,535
329,535
Shenango
965,148
2,303,257
3,268,405
Silverton . .
13,740
13,740
Sliver
358,432
305,364
663,796
Sparta .
1,244,197
1,244,197
Spring
31,909
35,773
67,682
Spruce (Cloquet)
613,947
5,166,199
5,780,146
St. Clair ....
94,688
94,688
St Paul
137 430
137,430
Stephens
454 819
454,819
Stevenson
953,079
9,984,191
10,937,270
Susquehanna
176,869
583,592
760,461
Sweeney
769
7,579
8,348
Syracuse
2,363
5,509
7,872
Tener
853 765
853,765
Troy. .
104,057
489,824
593,881
Union
399,877
399,877
Uno
341,939
341,939
Utica
232,582
1,303,649
1,536,231
Victoria .
27,592
289,525
317,117
*Virerinia Group
992,389
8,218,097
9,210,486
. AA£,1*11U> V>HWU^.
Virginia JMme
299,046
299,046
Wacoutah
35,498
226,424
261,922
Webb
46,384
369,783
416,167
Williams (N Cincinnati)
97,842
97,842
Wills
26,712
20,148
46,860
Winnifred (Day)
67,686
365,102
432,788
Yates
679,038
679,038
Yawkey
30,439
145,689
176,128
Total
£29,201,760
195,703,424
224,905,184
*Lone Jack, Missabe Mountain, Norman and Ohio Mines.
IRON MINES OF THE VERMILION RANGE*
With 1910, Prior and Total Shipments From Each Mine
Reprinted from the Iron Trade Review
Name of Mine
Shipments
1910
Prior
Total
Chandler
9,537,378
6,991,297
1,359,611
9,537,378
7,517,732
1,419,486
51,650
1,558,961
8,357,363
1,885,992
Pioneer .
526,435
59,875
51,650
206,386
75,511
283,320
Savoy. . .
Section 30
Sibley. . . . ......
1,352,575
8,281,852
1,602,672
Soudan (Minnesota) .
Zenith . ... .
Total
1,203.177
29,125,385
30,328,562
GRAND SUMMARY OF SHIPMENTS
Range
1910
Prior
Total
Marquette
4,392,726
91,903,991
96,296,717
Menominee
4,237,738
71,213,055
75,450,793
Gogebic
4,315,314
60,820,503
65,135,817
Baraboo
91,682
880,627
972,309
Mesaba
29,201,760
195,703,424
224,905,184
Vermilion
1,203,177
29,125,385
30,328,562
Grand Total
43,442,397
449,646,985
493,089,382
—50—
YEARLY TONNAGE SHIPMENTS OF IRON ORE FROM EACH RANGE OF
THE LAKE SUPERIOR DISTRICT
Since the Opening of the Lock and Canal at Sault Ste. Marie in 1855
Reprinted from the Iron Trade Review
Year
Marquette
Menomiuee
Gogebic
Vermilion
Mesaba
Grand Total
1855
1 449
1 449
1856
36 343
36343
1857
25 646
25 646
1858 .
15,876
15 876
1859
68 832
68 832
1860 . . . .
114,401
114,401
1861
49 909
49 909
1862
124 169
124 169
1863
203,055
203,055
1864
243 127
243 127
1865 . . .
236,208
236 208
1866
278 796
278 796
1867
473 567
473 567
1868 .
491,449
491 449
1869
617 444
617 444
1870
830,940
830 940
1871
779 607
779 607
1872
900,901
900,901
1873
1,162,458
1,162,458
1874
919,557
919,557
1875 . . .
891,257
891 257
1876
992 764
992 764
1877
1,010,494
4,593
1,015087
1878
1 033 082
78028
1 111 110
1879
1,130,019
245,672
1,375.691
1880
1 384 010
524 735
1 908 745
1881
1,579,834
727,171
2,307,005
1882
1,829,394
1,136018
2 965 412
1883
1 305 425
1 047 415
2 352 840
1884 .
1,548,034
895,634
1 022
62,124
2,506 814
1885
1 480 422
690 435
119 860
225 484
2 516201
1886
1,627,383
880,006
747,589
304,396
3,559 374
1887
1 851 414
1 193 343
1 303 267
394 252
4 742 276
1888
1889
1,918,750
2 634 816
1,191,101
1,796 755
1,424,699
2 016391
511,953
844 682
5,046,503
7 292 644
1890
2,993,664
2,282,237
2,847,786
880,114
9,003,801
1891
2,512 242
1,824 619
1,839,574
894 618
7 071 053
1892
1893
1894
2,665,169
1,835,893
2 060 260
2,261,499
1,466,197
1 137 949
2,971,991
1,329,385
1 809 468
1,167,650
820,621
948 513
4,245
613,620
1 793 052
9,070^554
6,065,716
7 749 242
1895
1896
1897
1898
1899
2,097,838
2,604,221
2,715,035
3,125,039
3,757,010
1,923,798
1,560,467
1,937,013
2,522,265
3,301,052
2,547,976
1,799,971
2,258,236
2,498,461
2,795,856
1,077,838
1,088,090
1,278,481
1,265,142
1,771,502
2,781,587
2,882,079
4,275,809
4,613,766
6,626,384
10,429 037
9,934,828
12,464,574
14,024,673
18,251,804
1900
1901
3,457,522
3 245 346
3,261,221
3 619 053
2,875,295
2 938 155
1,655,820
1 786 063
7,809,535
9 004 890
19,059,393
20 593 507
1902
1903
1904
1905
1906
1907
1908
1909
1910
3,868,025
3,040,245
2,843,703
4,215,572
4,057,187
4,388,073
2,414,632
4.256,172
4,392,726
4,612,509
3,749,567
3,074,848
4,495,451
5,109,088
4,964,728
2,679,156
4,875,385
4,237,738
3,654,929
2,912,708
2,398,287
3,705,207
3,643,514
3,637,102
2,699,856
4,088,057
4,315,314
2,084,263
1,676,699
1,282,513
1,677,186
1,792,355
1,685,267
841,544
1,108,215
1,203,177
13,342,840
12,892,542
12,156,008
20,158,699
23,819,029
27,495,708
17,257,350
28,176,281
29,201,760
27,562,566
24,271,761
21,755,359
34,252,115
38,421,173
42,170,878
25,892,538
42,504.110
43,350,715
Total..
To Adjust.
96,336,406
— 39 689
75,306,746
+ 144 047
65,179,956
— 44 139
30,328,562
224,905,184
492,056,854
+ 60,219
Baraboo
972 309
Total...
96,296,717
75,450,793
65,135,817
30,328,562
224,905,184
493,089,382
Author's note;
There should be added to the above grand total 1,032,528 tons of which 972,309 tons are ship-
ments from the Baraboo district in Wisconsin, and 60,219, tons are to correct miscellaneous
shipment records prior to 1891 from the Marquette, Menominee and Gogebic ranges. The correct
grand total of shipments is 493, 089,382 tons, as shown in preceding lists of individual mine ship-
ments.
PRICES OF IRON ORE AT LOWER PORTS
FOR EACH RANGE SINCE OPENING
PRICES OF PIG IRON
AND PRODUCTION
Reprinted from the Iron Trade Review
Year
Old Range- Vermilion
Mesaba
Year
Price
Long
Tons
Bessemer
Non-
Bessemer
Besse-
mer
Non-
Besse-
mer
1855. .
1856. .
1857..
1858. .
1859. .
I860..
1861..
1862..
1863. .
1864..
1865. .
1866. .
1867..
1868. .
1869. .
1870. .
1871..
1872..
1873. .
1874. .
1875. .
1876. .
1877. .
1878. .
1879. .
1880..
1881..
1882..
1883. .
*1884..
1885. .
1886. .
1887..
1888. .
1889. .
1890..
1891..
1892 . .
1893..
1894. .
1895. .
1896. .
1897..
1898. .
1899. .
1900..
1901..
1902..
1903..
1904..
1905..
1906..
1907..
1908.
1909..
1910. .
1911..
$10.00
8.00
8.00
6.50
6.00
5.25
5.25
5.25
7.50
8.50
7.50
9.50
10.50
8.25
8.25
8.50
8.00
9.00
1200
9.00
7.00
6.75
6.50
5.50
6.25
9.25
9.00
9.00
6.00
*5.25
4.75
5.25
6.00
4.75
4.50
5.50
4.50
4.50
3.85
2.75
2.90
4.00
2,60
2.75
3.00
5.50
4.25
4.25
4.50
3.25
3.75
4.25
5.00
4.50
4.50
5.00
4.50
$10.00
8.00
8.00
6.50
6.00
5.50
5.00
5.37
7.50
8.50
7.50
9.50
8.00
8.25
9.50
8.50
8.00
7.50
9.00
7.00
4.50
5.50
4.25
4.25
4.75
8.00
7.00
6.25
4.75
4.50
4.00
4.50
5.00
4.00
4.50
5.25
4.25
3.65
3.20
2.50
2.25
2.70
2,15
1.85
2.15
4.25
3.00
3.25
3.60
2.75
3.20
3.70
4.20
3.70
3.70
4.20
3.70
1855. .
1856. .
1857..
1858. .
1859.
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871..
1872. .
1873..
1874. .
1875. .
1876. .
1877..
1878. .
1879. .
1880. .
1881 . .
t!882..
1883..
1884. .
1885. .
1886. .
1887. .
1888..
1889. .
1890. .
1891..
1892. .
1893..
1894. .
1895..
1896. .
1897
1898. .
1899. .
1900. .
1901..
1902. .
1903..
1904..
1905..
1906..
1907..
1908..
1909..
1910. .
$2775
27.12
26.37
22.25
23.37
22.75
2025
23.87
35.25
59.25
46.12
46.87
44.12
39.25
40.62
33.25
35.12
48.87
42.75
30.25
25.50
22.25
18.87
17.62
21.50
28.50
25.12
21.85
19.04
17.18
15.27
18.96
21.37
17.38
18.00
22.15
15.15
15.00
12.65
9.65
9.40
12.40
8.35
9.55
10.30
24.15
16.15
15.90
21.50
13.35
15.50
17.25
21.50
16.00
14.75
19.00
700.159
788,515
712,640
629,548
750,560
821,223
653,164
703,270
846,075
1,014,282
831,770
1,205,663
1,305.023
1,431,250
1,711,287
1,665,179
1,706,793
2,548,718
2,560,963
2,401,262
2,023,733
1,868,961
2,066,594
2,301,215
2,741,853
3,835,191
4,144,254
4,623,323
4,595,510
4,097,868
4,044,526
5,683.329
6,417,148
6,489,738
7,603,642
9,202,703
8,279.870
9,157,000
7,124,502
6,657,388
9,446,308
8,623,127
9,652,680
11,773,934
13,620,703
13,789,242
15,878,354
17,821,307
18,009,252
16,497,033
22,992,380
25,307,191
25,781,361
15,936,018
25,795,471
27,298i545
$3.00 '
2.35
2.15
3.50
2.25
2.25
2.40
4.50
3.25
3.25
4.00
3.00
3.50
4.00
475
4.25
4.25
4.75
4.25
$1.90 '
2.25
1.90
1.75
2.00
4.00
2.75
2.75
3.20
2.50
3.00
3.50
4.00
3.50
3.50
4.00
3.50
*The Vermilion and Gogebic Ranges opened in 1884.
tPrior to 1882 prices are for No. 1 Anthracite Foundry Pig iron at Philadelphia,
prices are for Bessemer Pig Iron in the Valley at the||time ore prices were fixed.
Succeeding
RAIL FREIGHTS ON IRON ORE TO UPPER LAKE PORTS
Reprinted from The Marine Review
Year
Marquette Range
tfenominee
Range
Gogebic
Range
Mesaba
Range
Vermilion Range
Marquette
Escanaba
Escanaba
Ashland
Duluth
Superior
Two
Harbors
Two Harbors
From
Ely
Tower
1855
S3 00
1.27
1.27
.87
.87
1.09
1.09
1.09
1.09
1.09
1.10
1.10
1.10
1.10
1.10
1.10
.95
.84
.84
.84
.65
.55
.55
.55
.55
.55
.55
.55
.55
.40
.45
.55
.55
.45
.45
.45
.45
.40
.40
.32
.32
,32
.32
.32
.25
.25
.25
.25
.25
.25
.32
.32
.32
.32
.32
.32
.32
1856
1857
1858
1859
1860
1861
1862
1863
1864
1865
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
$1.55
180
1.80
1.85
1.85
1.70
1.70
2.00
2.00
1.25
1.15
1.15
1.15
1.15
1.25
1.25
1.25
1.10
.80
.80
.80
.80
.70
.70
.70
.70
.65
.65
.52
.52
.52
.52
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
1882
1883
1884
1885
$0.85
.75
.75
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
" $0.80
.70
.70
.70
.70
.70
.70
.52
.52
.52
.45
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.65
.65
.65
.65
.52
.52
.52
.45
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
.40
" $0.80
.80
.80
.80
.80
.80
.80
.80
.80
.80
.80
.80*
.80
.80
.80
.80
.80
.80
.80
.80
ii.oo
.00
.00
.00
.00
.00
.00
.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
$6.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
.90
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907 . .
1908
1909
1910
1911
—53—
VESSEL FREIGHTS ON IRON ORE TO LOWER LAKE PORTS
Reprinted from The Marine Review
Year
Marquettc
Escanaba
Duluth
Superior
Ashland
Two Harbors
1855 . •
$3.00
1856
3.00
1857 ....
2.67
1858
2 09
1859
2.00
1860
2 00
1861 . • •
2.21
1862
2.89
1863 . ....
3.19
1864
3.37
1865 .
3.23
1866
4.17
$3.77
1867
2.98
3.28
1868
3.11
2.44
1869
3.21
2.43
1870
3.06
2 40
1871
2.83
207
1872
3.59
2.50
1873
3.44
274
1874
3.84
*
1875
2.87
*
1876
2.54
*
1877
1.40
*
1878
1.26
.85
1879
1.61
1.07
1880
2.50
1 77
1881
2.25
1.55
1882
1.50
1.22
1883
1.30
1.11
1884
1.21
98
1885
101
.84
$1.20
1886
135
1.16
1.49
1887
175
1.49
2.11
1888
1.22
.97
1.34
1889
1.14
1.00
1.29
1890
1.16
.99
1.26
1891
.96
.74
1.05
1892
1.06
.87
1.20
1893
.85
.70
.88
1894
.70
.53
.79
1895
.83
.64
.96
1896
.80
.61
.91
1897
.60
.45
.63
1898
.60
.48
.61
1899
.84
.72
.95
1900
.94
.85
1.05
1901
.74
.62
.84
1902
.68
.59
.76
1903
.73
.63
.83
1904
.61
.54
.70
1905
.70
.60
.76
1906
.70
.60
.76
1907 . .
.70
.60
.76
1908
.60
.50
.65
1909
.60
.50
.65
1910 . .
.65
.55
.70
1911
.55
.45
.60
*No shipment.
Freight rates are averaged.
—54—
Shipments and Receipts of Iron Ore
Shipments by Ranges, Ports and Rail and Receipts at Lake Erie Ports
Reprinted from the Iron Trade Review
SHIPMENTS BY RANGES, GROSS TONS
Range
1910
1909
1908
1907
1906
1905
Marquette
4,392,726
4,256,172
2,414,632
4,388,073
4,057,187
4,215,572
Menominee
4 237 738
4 875,385
2,679,156
4,964,728
5,109,088
4,495,451
Gogebic
4,315,314
4,088,057
2,699,856
3,637,102
3,643,514
3,705,207
Vermilion.
1,203,177
1,108,215
841,544
1,685,267
1,792,355
1,677,186
Mesaba
29 201 760
28 176 281
17 257 350
27 495 708
23 819029
20 158 699
Baraboo
91,682
' 82,759
122,449
95,790
144,589
132,001
Total
43,442,397
42,586,869
26,014,987
42,266,668
38,565,762
34,384,116
SHIPMENTS BY PORTS AND ALL-RAIL, GROSS TONS
Port
1910
1909
1908
1907
1906
1905
Escanaba
4,959,726
5,747,801
3,351,502
5,761,988
5,851,050
5,307,938
Marquette
Ashland
Two Harbors
3,248,516
4,094,374
8271,177
2,909,451
3,834,207
9,181,132
1,487,487
2,513,670
5 702,237
3,013,826
3,436,867
8,188,906
2,791,033
3,388,106
8 180,125
2,977,828
3,485,344
7,779,850
Superior
8,414,799
6,540505
3,564,030
7,440,386
6,083,057
5,118,385
Duluth
13,640,166
13,470,503
8,808,168
13,448,736
11,220,218
8,807,559
Total by lake...
Total by rail —
42,628,758
813,639
41,683,599
903,270
25,427,094
587,893
41,288,755
975,959
37,513,589
1,052,173
33,475,904
907,212
Total
43 442 397
42 586 869
26 014,987
42 266 668
38,565,762
34,384,116
IRON ORE RECEIPTS AT LAKE ERIE PORTS, GROSS TONS
Port
1910
1909
1908
1907
1906
1905
Toledo ....
1,225,202
1,374,224
680,553
1,314,140
1,423,741
1,006,855
11,088
83,043
35,847
51,202
Huron
Lorain ...
Cleveland
197,951
2,884,738
6,344,943
243,082
2,796,856
6,051,342
213,377
2,286,388
4,240,815
971,430
2,621,025
6,495,998
778,453
2,191,965
6,604,661
825,278
1,605,823
5,854,745
Fairport
Ashtabula
Conneaut
Erie
1,516,434
9,620,638
6,309,548
942 592
1,734,277
8,056,941
7,007,834
1,235,057
1,518,961
3,012,064
4,798,631
828,602
2,437,649
7,521,859
5,875,937
2,294,239
1,861,498
6,833,352
5,432,370
1,986,539
2,008,621
6,373,779
5,327,552
2,112,476
Buffalo
4,704,439
5,002,235
2,835,099
5,580,438
4,928,331
3,774,928
Detroit
296 412
159 889
Total
34,042,897
33,672,825
20,414,491
35,195,758
32,076,757
28,941,259
—55—
Lake Erie Stock Piles
Iron Ore on Lake Erie Docks Dec. 1 and May 1 1905-1910
Reprinted from the Iron Trade Review
IRON ORE ON LAKE ERIE DOCKS, DEC. 1, GROSS TONS
Port
1910
1909
1908
1907
1906
1905
Toledo
433,215
332,456
590,925
518 645
281 000
368 024
Sandusky
Huron
17,728
375,118
39,557
477,333
36,079
458 158
44,546
415 730
17/167
245 499
52,977
208 023
Lorain
259 448
407 129
496 274
366 271
336321
271 695
Cleveland
Fairport
Ashtabula
1,638,795
839,970
3 287,816
1,547,142
867,640
2,594 359
1,458,392
835,821
2 293 531
1,281,335
523,981
2 056 820
1,224,606
590,783
1 631 312
1,330,619
759,961
1 589 951
Conneaut. .
1,329,997
1,411,002
1,296,675
1 ,000,774
1,057,424
976 976
Erie
792 Oil
788 046
730 530
652 219
552 631
564 961
Buffalo
452,783
501,125
315,148
435,407
315,412
315 780
Total
9,426,681
8,965,789
8,441,533
7,385,728
6,252,455
6,438,967
IRON ORE ON LAKE ERIE DOCKS, MAY 1, GROSS TONS
Port
1910
1909
1908
1907
1906
1905
Toledo
366 63 1
380,675
217,788
147,397
52,550
71 642
Sandusky
Huron
22,468
336,693
31,528
379,364
42,256
392,731
5,439
98,106
29,320
80 738
44,444
68 100
Lorain
205 445
362 096
327 052
176 300
140 452
165 586
Cleveland
Fairport
985,725
541 299
1,018,055
562 679
1,029,198
225 328
447',573
154 246
350,382
266 162
513,559
390 869
Ashtabula
1,609931
1,392,430
1,799,454
568,485
462 564
623 451
Conneaut
Erie
Buffalo
461,365
550,187
364 336
497,203
557,029
189 209
462,392
595,660
388 441
139,853
189,276
50 313
148,528
169,488
90 906
96,295
236,414
61 271
Total
5 444 080
5 370 268
5 480 300
1 976 988
1 791 090
2 271 631
—56—
Production of Iron Ore in the United States
In 1907 and 1908
Reprinted from "The Production of Iron Ores, Pig Iron, and Steel in 1908," United States
Geological Survey, 1909. — By E. C. Harder
States
Gross Tons
1907
1908
States
Gross Tons
1907
1908
Minnesota
Michigan
28,969,658
11,830342
18,652,220
8,839,199
Pennsylvania
Tennessee
837,287
813 690
443,161
635 343
Alabama
4,039,453
3,734,438
New Jersey
549,760
394,767
New York
Mont., Nev., N. Mex ,
1,375,020
697,473
Georgia
Mo. and Iowa
444,114
111,768
321,060
98,414
Utah, Wy., Tex., Ark.,
[ 949,925
584,591
North Carolina
50,439
48 522
Col Cal and Wash
Conn and Mass
37 166
28 112
Virginia .
786,856
692,223
Ohio
23,589
26,585
WVa Kv «.nH MH
«o SOS
CO OOC
Wisconsin
838,744
733,993
Total
51,720,619
35,983,336
Imports of Iron Ore
By Countries, In 1907, 1908 and 1909
1<
K)7
1<
K)8
1<
X)9
Gross Tons
Tons
Values
Tons
Values
Tons
Values
Cuba . . ...
657 133
$2 522 710
579 668
$1 756 091
927 774
$2 681 028
Spain
296,318
760,801
126,074
331,070
291,547
664,460
Greece
23 800
42,927
4 580
5311
19080
21,782
89 685
97 735
48285
48 285
224 395
330 056
United Kingdom . . .
5,765
16,491
2,028
32,027
869
12,846
Germany
Canada
273
26,878
125
2,096
51,328
1 102
602
5,013
1
4,052
16,321
28
3
27,155
3
100
84,613
179
Russia in Europe
54,995
161,697
5,750
15,220
32,010
62,418
French Africa
65 940
252 897
37,208
67,515
Other countries
8,256
27,699
4,627
15,843
134,913
654,081
Total
1,229,168
$3,937,483
776,898
$2,224,248
1,694,957
$4,579,078
Imports of Iron Ore For Twenty Years
Totals for 1881-1910
Years
Gross Tons
Years
Gross Tons
Years
Gross Tons
1881
782 887
1891
912,856
1901..
966,950
1882
589 655
1892
806 585
1902
1,165,470
1883
490 875
1893
526 951
1903
980 440
1884
487*820
1894
168 541
1904
487,613
1885
390 786
1895
524 153
1905
845,651
1886
1 039 433
1896
682 806
1906
1 060 390
1887
1 194 301
1897
489 970
1907
1,229,168
1888
587 470
1898
187 093
1908
776,898
1889
853 573
1899
674 082
1909
1,694,957
1890
1 246 830
1900
897 831
1910
2.591.C31
Note — For many years Cuba has annually shipped more than one-half of the imported iron ore.
The above tables are credited to the Bureau of Statistics of the U. S. Department of Com-
merce and Labor.
—57--
Apparent Annual Iron Ore Consumption
In the United States
1889-1910, Gross Tons
Compiled from the American Iron and Steel Association Statistics and 1910 Report and
"The Production of Iron Ores, Pig Iron and Steel in 1908,"
United States Geological Survey, 1909. — By E. C. Harder
Year
Domestic
Iron Ore
Produced
Stocks
of Ore at
Mines
Imports
Exports
Stocks of
Great
Lower Lake
Ports
Dec. 1
Zinc
Resid.
Apparent
Consump-
tion
Pig Iron
Produced
1889.
14,518,041
2,256,973
853,573
2,607,106
43,648
14,366,562
7,603,642
1890.
16,036,043
2,000,000
1,246,830
3,893,487
48,560
16,302,025
9,202,703
1891.
14,591,178
2,450,279
912,864
3,508,489
38,228
15,476,989
8,279,870
1892.
16,296,666
2,911,740
806,585
4,149,451
31,859
16,032,687
9,157,000
1893.
1894. .
1895. .
11,587,629
11,879,679
15,957,614
3,526,161
3,236,198
2,976,494
526,951
167,307
524,153
4,070,710
4,834,247
4,415,712
37,512
26,981
43,249
11,616,412
11,600,393
17,203,255
7,124,502
6,657,388
9,446,308
1896. .
16,005,449
3,405,302
682,806
4,954,984
44,953
15,765,128
8,623,127
1897. .
17,518,046
3,098,287
489,970
5,923,755
33,924
17,380,184
9,652,680
1898. .
19,433,716
2,846,457
187,208
5,136,407
48,502
20,708,604
11,773,934
1899. .
24,683,173
2,320,278
674,082
40,665
5,530,283
65,010
25,513,903
13,620,703
1900..
27,553,161
3,709,950
897,831
51,460
5,904,670
87,110
26,722,583
13,789,242
1901..
28,887,479
4,239,823
966,950
64,703
5,859,663
52,311
29,357,171
15,878,354
1902..
35,554,135
3,834,717
1,165,470
88,445
7,074,254
65,246
35,886,921
17,821,307
1903..
35,019,308
6,297,888
980,440
80,611
6,371,085
73,264
34,232,399
18,009,252
1904. .
27,644,330
4,666,931
487,613
213,865
5,763,399
68,189
30,224,910
16,497,033
1905. .
42,526,133
3,812,281
845,651
208,017
6,438,967
90,289
43,433,138
22,992,380
1906..
47,749,728
3,281,789
1,060,390
265,240
6,252,455
93,461
49,355,343
25,307,191
1907..
51,720,619
3,033,110
1,229,168
278,208
7,385,728
93,413
51,880,398
25,781,361
1908..
35,983,336
6,065,397
776,898
309,099
8,441,533
110,225
32,473,268
15,936,018
1909..
1910..
51,294.271
6,135.271
1,694,957
2,591.031
455,934
644,875
8,965,789
9,426,681
141,264
52,080,428
25,795,471
27,298,545
The above table includes data on certain factors from which an approxi-
mate estimate of the annual consumption of iron ore in the United States
is deduced. The result is of course merely an approximation, for no data
are available on certain factors which should enter into the final result.
The elements accounted for in the table and estimate are (1) domestic iron-
ore production; (2) stock of ore at mines; (3) imports of ore; (4) exports
of ore; (5) stocks of ore at lake ports; (6) zinc residuum production."
—58—
Production of Steel
In the United States
1860-1910, Gross Tons
Compiled from the American Iron and Steel Association Statistics and 1910 Report and
"The Production of Iron Ores, Pig Iron and Steel in 1908,"
United States Geological Survey, 1909. — By E. C. Harder
Year
Bessemer
Open-Hearth
Crucible
Other Steel
Total
1860 .
* 11,838
11 838
1863
8075
8075
1864
9258
9 258
1865
13 627
13 627
1866
16 940
16 940
1867
2 679
16 964
19 643
1868
7,589
19,197
26 786
1869
10 714
893
19 643
31 250
1870
37,500
1,339
29,911
68 750
1871
40 179
1 785
31 250
73 214
1872
107 239
2 679
26 125
6 911
142 954
1873
152 368
3 125
31 059
12 244
198 796
1874
171 369
6250
32 436
5 672
215 727
1875
335 283
8080
35 180
11 256
389 799
1876
469 639
19,187
35 163
9202
533 191
1877
500,524
22,349
36098
10 647
569 618
1878
653 773
32,255
38309
7 640
731 977
1879
829,439
50,259
50 696
4 879
935 273
1880 . .
1 074 262
100 851
64 664
7 558
1 247 335
1881
1 374 247
131 202
80 145
2 720
1 588 314
1882
1 514 687
143 341
75 973
2 691
1 736 692
1883
1 477 345
119356
71*835
4*999
1 673 535
1884
1 375 531
117 515
53 270
4 563
1 550 879
1885
1 519430
133 376
57 599
1 515
1*711*920
1886
2 269 190
218 973
71 973
2 367
2 562 503
1887
2 936 033
322 069
75 375
5 594
3 339 071
1888
2,511,161
314,318
70 279
3 682
2,899 440
1889
2 930 204
374 543
75 865
5 120
3 385 732
1890 ,
3 688,871
513,232
71 175
3 793
4 277,071
1891
3 247 417
579 753
72 586
4 484
3 904 240
1892
4 168 435
669 889
84 709
4 548
4 927 581
1893
3 215 686
737 890
63 613
2 806
4019 995
1894
3 571 313
784 936
51 702
4081
4 412 032
1895
4 909 128
1 137 182
67 666
858
6 114 834
1896
3 919 906
1 298,700
60 689
2 394
5281,689
1897...
5,475,315
1,608,671
69 959
3012
7,156,957
1898
6 609017
2 230 292
89747
3 801
8 932 857
1899
7 586 354
2 947 316
101 213
4 974
10 639 857
1900 ....
6 684 770
3 398 135
100 562
4 862
10 188 329
1901
8 713 302
4 656 309
98 513
5 471
13 473 595
1902
9 138 363
5 687 729
112 772
8 386
14 947 250
1903
8 592 829
5 829 911
102 434
9,804
14,534,978
1904
7 859 140
5 908 166
83 391
9 190
13 859 887
1905
10 941 375
8 971 376
102 233
8 963
20 023 947
1906
12 275 830
10 980 413
127 513
14 380
23 398,136
1907...
11 667 549
1 1 549 736
131 234
14,075
23,362,594
1908
6 116 755
7 836 729
63 631
6 132
14 0232 47
1909
9 330 783
14 493 936
107 355
22 947
23 955 021
1910
9,4 12*722
16*504*509
122*303
55,365
26,094,919
*Part of the 1860-1871 Crucible Steel Production should be credited to "Other Steel."
"The first steel produced in this country was probably made in Connecticut in 1728 by Samuel
Higley and Joseph Dewey. Crucible steel was first successfully produced in the United States in
1832 at the works of William and John H. Garrard, at Cincinati, Ohio. Bessemer steel was first
made in thia country in September 1864, by William F. Durfee at an experimental plant at
Wyandotte, Mich., and open-hearth steel in 1864 by the New Jersey Steel and Iron Company at
Trenton, N. J."
—59—
Production of Finished Rolled Steel and Iron
In the United States 1887-1909
Reprinted from American Iron and Steel Association Report 1910
Years
Iron and
Steel Rails
Gross
Tons
Plates and
Sheets, Ex-
cept Nail
Plate
Wire
Rods
Gross
Tons
Structural
Shapes, Not
Including
Plates
Nail
Plate
Gross
Tons
Bars,
Hoops, and
all Other
Forms
Total
Gross
Tons
1887 . .
2,139,640
603,355
308,432
2,184,279
|*H
5,235,706
1888
1 403 700
609 827
279 769
289 891
2 034 162
4 617 349
1889
1,522,204
716,496
363,851
259,409
2,374,968
5,236,928
1890
1 885 307
809 981
457 099
251 828
2,618 660
6 022 875
1891
1,307,176
678,927
536,607
223,312
2,644,941
5,390,963
1892
1 551 844
751 460
627 829
453 957
201 242
2 579 482
6 165 814
1893...
1,136,458
674 345
537,272
387,307
136,113
2,104,190
4,975,685
1894
1 021 772
682 900
673 402
360 305
108 262
1,795,570
4,642 211
1895. .
1,306 135
991 459
791,130
517,920
95,085
2,487,845
6,189,574
1896
1 122 010
965 776
623 986
495 571
72 137
2 236 361
5 515841
1897
1 647 892
1 207 286
970 736
583,790
94,054
2,497,970
7,001,728
1898
1,981,241
1,448,301
1,071,683
702,197
70,188
3,239,760
8,513,370
1899
2,272 700
1 903 505
1 036 398
850,376
85,015
4,146,425
10,294,419
1900
2,385,682
1,794,528
846,291
815,161
70,245
3,575,536
9,487,443
1901
2,874 639
2 254 425
1 365 934
1,013,150
68,850
4,772,329
12,349,327
1902
2,947,933
2,665,409
1,574,293
1,300,326
72,936
5,383,219
13,944,116
1903
2,992 477
2 599 665
1 503 455
1,095,813
64,102
4,952,185
13,207,697
1904
2,284,711
2,421,398
1,699,028
949,146
61,601
4,597,497
12,013,381
1905
3 375 929
3 532 230
1 808 688
1,660,519
64,542
6,398,107
16,840,015
1906
3,977,887
4,182,156
1,871,614
2,118,772
54,211
7,383,828
19,588,468
1907
3 633 654
4 248 832
2 017,583
1,940,352
52,027
7,972,374
] 9,864,822
1908
1909
1,921,015
3 023 845
2 1649,693
4 234 346
1,816,949
2 335,685
1,083,181
2,275,562
45,747
63,746
4,311,608
7,711,506
11,828,193
19,644,690
Rolled forging blooms and forging billets are included from 1905.
shapes were included with bars, hoops, etc.
Prior to 1892 structural
—60—
Production of Coke
In the United States 1907-1908
Reprinted from American Iron and Steel Association Report 1910
States— Net Tons
1907
1908
Pennsylvania
West Virginia
26,513,214
4,112,896
15,511,634
2,637,123
Alabama
3 021 794
2 362 666
Indiana, Kentucky, Maryland, Massachusetts,
Michigan, Minnesota, Montana, New Jersey,
New York, Oklahoma, and Wisconsin
Virginia
2,655,610
1,545 280
2,286,092
1 162 051
Colorado and Utah .
1,421,579
982 291
Illinois
372,697
362 182
New Mexico
265,125
274 565
Tennessee
Ohio
467,499
270,634
214,528
159,578
Georgia
74,934
39,422
Washington
52,028
38,889
Kansas
6 274
2 497
Total .
40.779.564
26.033.518
Shipments and Prices of Connellsville Coke
1881-1910
Reprinted from American Iron and Steel Association Report 1910
Calendar
Years
Total
Ovens
Shipments
Net Tons
Aver-
age
Price
Calendar
Years
Total
Ovens
Shipments
Net Tons
Aver-
age
Price
1881..
1882
8,208
9,283
2,639,002
3,043,394
$1.63
1 47
1896..
1897
18,351
18 628
5,411,602
6 915 052
1.90
1 65
1883.
10,176
3,552,402
.14
1898
18 643
8 460 112
1 55
1884
1885
1886
1887
1-0,543
10,471
10,952
11,923
3,192,105
3,096,012
4,180,521
4,146,989
.13
.22
.36
.79
1899.. ..
1900.. ..
1901
1902.. .
19,689
20,954
21,575
26,329
10,129,764
10,166,234
12,609,949
14,138,740
2.00
2.70
1.95
2 37
1888
1889
1890
1891. . . .
13,975
14,458
16,020
17,204
4,955,553
5,930,428
6,464,156
4,760,665
1.19
1.34
1.94
1 87
1903
1904
1905.. . .
1906
28,092
29,119
30,842
34 059
13,345,230
12,427,468
17,896,526
19 999 326
3.00
1.75
2.26
2 75
1892
1893
1894
1895
17,256
17,513
17,834
17,947
6,329,452
4,805,623
5,454,451
8,244,438
1.83
1.49
1.00
1.23
1907.. ..
1908.. ..
1909.. ..
1910....
35,697
37,842
39,158
39,137
19,029,058
10,700,022
17,785,832
18,689,722
2.90
1.80
2.00
2.10
Freight Rates per Net Ton for 1911 on Furnace Coke
Connellsville Field to
Pittsburgh $0.75
Youngstown 1.35
Cleveland 1.65
Buffalo.., . 1.85
Philadelphia an df »« nn
Schuylkill Valley t$2-°°
Chicago 2.35
—61—
Rail Freights on Iron Ore
1890-1910
Rate per Gross Ton from Lake Erie Docks
Specially compiled by Rukard Hurd for this Manual.
Year
Cleveland, Fairport, Lorain
and Ashtabula
Buffalo and Erie
To
Philadelphia
and
Schuylkill
Valley
To
Youngstown
To
Pittsburgh
1890. .
$0.625
.625
.625
.675
.675
.675
.625
.625
.59
.59
.69
.69
.69
.69
.69
.69
.69
.69
.69
.64
.64
$1.05
1.05
1.05
1.15
1.15
1.15
1.05
1.05
.98
.98
1.18
1.18
1.18
1.18
1.18
1.18
1.18
1.18
1.18
1.04
1.04
$1.36
1.36
1.36
1.46
1.46
.46
.46
.28
.33
.33
.43
.43
.43
.43
.43
1.43
1.43
1.53
1.53
1.53
1.53
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
Note — For direct load, vessel to car, the above rates are 8 cents per ton less.
—62—
UNIVERSITY
Of
Production and Price of Limestone for
Furnace Flux
1906-1909, Gross Tons
WITH 1911 RAIL FREIGHTS
From United States Geological Survey Report and other Sources
Compiled by Rukard Hurd for this Manual
STATES
1906
1907
Quantity
Gross
Tons
Value
Value
per ton
Cents
Quantity
Gross
Tons
Value
Value
per ton
Cents
Pennsylvania
6,396,765
909,375
500,702
3,098,346
43,574
513,452
803,643
1,019,931
552,651
467,341
$3,168,186
384,282
210,124
1,013,497
28,381
294,659
473,062
513,413
301,913
219,707
.49
.42
.42
.33
.65
.57
.59
.50
.55
.47
7,178,508
970,158
577,052
2,497,616
55,371
584,964
939,437
1,063,772
672,801
541,610
$3,829,967
423,315
279,838
1,134,793
43,612
343,866
604,654
528,587
397,244
275,517
.53
.44
.48
.45
.79
.59
.64
.50
.59
.51
Illinois
Indiana
Ohio
Missouri
New York
Alabama
West Virginia ....
Colorado
Virginia
Total
All others
Grand total & av..
14,305,780
$6,607,224
.46
15,081,289
$7,861,393
.52
1,771,422
$1,005,468
.57
2,038,008
$1,283,096
.63
16,077,202
$7,612,692
1908
.47
17,119,297
$9,144,489
1909
.53
Pennsylvania
Illinois
4,350,381
1,209,326
272,505
1,444,412
18,524
357,194
582,958
666,087
441,490
289,369
$2,324,173
540,718
139,703
635,354
14,678
205,758
386,874
337,742
276,146
169,847
.53
.45
.51
.44
.79
.58
.66
.51
.62
.59
4,593,822
1,820,590
369,938
2,161,681
43,909
580,802
974,650
900,993
462,291
388,746
$3,165,872
714,631
190,809
1,130,082
31,075
343,891
512,585
492,497
267,806
213,444
.48
.39
.51
.52
.70
.59
.52
.54
.58
.55
Indiana
Ohio
Missouri
New York
Alabama . . .
West Virginia ....
Colorado
Virginia
Total
9,632,246
$5,030,993
.52
14,297,422
$7,062,692
.49
All others
1,459,196
874,248
.60
1,475,441
859,115
.58
Grand total & av..
11,091,442
$5,905,241
.53
15,772,863
$7,921,807
.50
1911 Freight Rates on Limestone per Gross Ton from Adjacent Quarries
To Pittsburg,
Youngstown,
Cleveland,
Buffalo,
65 cents
35 "
50 "
35+ "
To Chicago,
Philadelphia,
Schuylkill Valley,
20+ cents
80
65
—63—
Average Annual Prices at Pittsburgh
1891-1900
Bessemer Iron Ore
Bessemer Pig Iron and Bessemer Steel Billets
From Statistics of the American Iron and Steel Association
and The Iron Trade Review
Compiled by Rukard Hurd
—64—
Average Annual Prices at Pittsburgh
1901-1910
Bessemer Iron Ore
Bessemer Pig Iron and Bessemer Steel Billets
From Statistics of the American Iron and Steel Association
and The Iron Trade Review
Compiled by Rukard Hurd
—65—
Average Yearly Prices at Pittsburgh
1890-1910
Bessemer Iron Ore, Bessemer Pig Iron, Bessemer Steel Billets
Average Yearly Price Bessemer Ore
at Cleveland, Youngstown, Pittsburgh, Philadelphia and Schuylkill Valley Points
From American Iron and Steel Association records for prices on Pig Iron and
Steel Billets, and the Iron Trade Review for Ore Prices
Specially compiled by Rukard Hurd for this Manual
Average Price Bessemer Ore
Average Pittsburgh
With Freight Added
JT rices
Year
Cleveland
and all
Philadel-
Lower Lake
Ports
phia and
Schuylkill
Youngs-
town
Pittsburgh
Bessemer
Pig
Bessemer
Steel
Valley
Iron
Billets
1890..
$5.50
$6.86
$6.125
$6.55
$18.87
$
1891....
4.50
5.86
5.125
5.55
15.95
25.33
1892....
4.50
5.86
5.125
5.55
14.37
23.63
1893....
3.85
5.31
4.525
5.00
12.87
20.44
1894....
2.75
4.21
3.425
3.90
11.38
16.58
1895....
2.90
4.36
3.575
4.05
12.72
18.48
1896....
4.00
5.28
4.625
5.05
12.14
18.83
1897 ...
2.60
3.93
3.225
3.65
10.13
15.08
1898....
2.75
3.93
3.34
3.73
10.33
15.31
1899 ...
3.00
4.43
3.59
3.98
19.03
31.12
1900....
5.50
6.93
6.19
6.68
19.43
25.06
1901....
4.25
5.68
4.94
5.43
15.93
24.13
1902....
4.25
5.68
4.94
5.43
20.67
30.57
1903....
4.50
5.93
5.19
5.68
18.98
27.91
1904....
3.25
4.68
3.94
4.43
13.76
22.18
1905....
3.75
5.18
4.44
4.93
16.36
24 . 03
1906....
4.25
5.68
4.94
5.43
19.54
27.45
1907....
5.00
6.53
5.74
6.14
22.84
29.25
1908....
4.50
6.03
5.24
5.64
17.07
26.31
1909....
4.50
6.03
5.14
5.54
17.41
24.62
1910....
5.00
6.53
5.64
6.04
17.19
25.38
—66—
Geological Map
Lake Superior
Pre-Cambrian Iron Bearing Districts
Furnished by The Iron Age*
!From issue of March 9, 1911
—67—
Geology and Mineralogy
FOREWORD
This Article Should be used in Connection with the Following Reprint on
"The Geology and Mineralogy of the Lake Superior District"
In Monograph 52 of the U. S. Geological Survey just issued from the
press, C. R. Van Hise and C. K. Leith summarize the geology of the Lake
Superior region and its ore deposits. This is the first comprehensive at-
tempt to consider the geology of the region as a whole in any of the U. S.
Geological Survey reports. The monograph is accompanied by revised
geological maps of all the iron ranges and a general geological map of the
entire region. In connection with the present report, we are interested
principally in the treatment of the iron formations and the iron ores. It
is shown that the iron formations of the region belong to three geological
periods, and that the last of these periods, the upper Huronian (which in-
cludes the Mesaba and Cuyuna districts of Minnesota) contains over 75%
of the known ore of Lake Superior. The total area of the iron formations of
the Lake Superior region is 227 square miles, but the iron ores occupy only
a small fraction of this area.
The ores are concentrated in the upper parts of the iron formation. The
concentration is mainly accomplished by percolating waters taking out the
silica, usually leaving the ores very porous; but sometimes this action is
followed by slumping of the ore or by crushing during the folding with
the result that pore space is eliminated. The concentration takes place
where the percolating waters are able to flow freely. These places are
determined by a great variety of conditions, such as folds, impervious base-
ments, bedding, etc. Other things being equal, it is obvious that the iron
formations with the largest area of exposure at the rock surface is the
one which would have the most chance of being entered by concentrating
waters from the surface. A comparison of the ore reserves of different
areas shows that they are roughly proportional to the area of exposure. For
instance, the Mesaba iron formation, with a flat dip and a correspondingly
wide area of exposure, shows a high reserve, while the equally thick Gogebic
formation, standing steeply and therefore with smaller exposure, has a
much smaller reserve.
The ores are fully described with reference to chemical, mineralogical
and physical characteristics, with the aid of many tables of quantitative
determinations and graphic diagrams, prepared with the co-operation of Mr.
W. J. Mead. Some of the quantitative data for the first time presented,
cover the average chemical and mineralogical composition for each district
and for the region as a whole, the porosity, the density, the cubic contents per
ton, phosphorus distribution, etc. The phosphorus tables show clearly that
the phosphorus is associated with the iron rather than silica, and by taking
out silica in the concentration of the ores, whether in nature or artifically
by washing, as in the western Mesaba, phosphorus is increased.
Of especial note is a new conception of the ultimate source of the iron
formations. They are sediments thought to be derived from basic volcanic
rocks which were abundantly extruded over this area both before and during
the deposition of the sediments. Some of these volcanic rocks were sub-
marine extrusives, which may have contributed hot iron-bearing solutions
directly to the sea in which the iron-bearing sediments were being deposited.
The Geology and Mineralogy
of the
Lake Superior Iron Districts
Occurrence of Iron Ores in the Lake Superior
Districts of the United States
Reprint from "The Production of Iron Ores, Pig Iron, and Steel in 1908,"
published by the United States Geological Survey, 1909. — By E. C. Harder
Iron minerals are classified as sulphides, oxides, carbonates, silicates,
etc., of which only the oxides and carbonates are used in the steel industry.
The ores of iron are generally classed under four heads:
1. Hematite: Including all the anhydrous sesquioxides (Pe2 O3— theoret-
ical percentage of iron, 70). This is known locally as red hema-
tite, specular ore, gray ore, fossil ore, oolitic ore etc.
2. Brown ore: Including hydrated sesquioxides, such as limonite, goth-
ite, and turgite (Fe2 O3 nH2O -theoretical percentage of iron, 59.8-
66). This is known locally as brown iron ore, brown hematite, bog
ore, limonite, etc.
3. Magnetite: Including magnetic oxides (pe3 O4 — theoretical percent-
age of iron, 72.4). Magnetite is known generally as magnetic iron
ore.
4. Iron carbonate: Including carbonates of various types (Fe CO3 —
theoretical percentage of iron, 48.2). Iron carbonate is known lo-
cally as spathic iron ore, kidney ore, black band ore, siderite, etc.
—69—
Hematite has always been predominant as an ore of iron, and at present
constitutes almost nine-tenths of the iron ores produced. Brown ore and
magnetite are far below it in importance, each furnishing at present about
one-twentieth of the total iron-ore production. The production of iron car-
bonate is insignificant in comparison with that of the other ores, constituting
only about one-twentieth of 1 per cent of the total.
For purposes of description, the iron-ore deposits of the United States
may be conveniently grouped into three districts — the eastern district, the
central district, and the western district. The eastern district includes the
northeastern and southeastern commercial districts, the central district in-
cludes the Mississippi Valley and Lake Superior districts, and the western
district includes the Rocky Mountain and Pacific Slope districts.
The following descriptions are partly the result of personal observation
and partly summarized from various reports. A bibliography of the prin-
cipal articles on iron ores of the United States is given at the end of this
report. Some of the descriptions of the western deposits were taken from
unpublished notes kindly furnished the survey by Mr. R. C. Hills and Mr. O.
A. Hershey.
Central District
The iron ores of the central district may be classified as
follows.
Hematite:
Soft, hard, and specular hematite associated with the pre-Cambrian iron
formations of the Marquette, Menominee, Penokee-Gogebic, Mesabi,
Vermilion, Cuyuna, and Baraboo ranges, Lake Superior district.
Clinton hematite in east-central Wisconsin and in Missouri.
*************
Brown Ore.
Bog ore in central and northwestern Wisconsin.
—70—
Magnetite:
Magnetite formed by regional and contact metamorpbism of the pre-
Cambrian hematite deposits in the Marquette, Mesabi, and Gunflint
ranges, Lake Superior district.
Titaniferous magnetite in gabbro in northern Minnesota.
Iron carbonate:
Iron carbonate and silicate composing the unaltered iron formation in
the Lake Superior district.
HEMATITE
Lake Superior Hematite. — The Lake Superior hematite deposits consti-
tute by far the most important type of iron ore in the United States and yield
about four-fifths of the total annual product. They are grouped into seven
minor districts or ranges, viz: The (a) Vermilion, (b) Mesabi, and (c)
Cuyuna ranges of northern Minnesota; the (d) Penokee-Gogebic, (e) Mar-
quette (including the Republic and Swanzy areas), and (f) Menominee (in-
cluding the Crystal Falls, Iron River, Metropolitan and Florence areas)
ranges of northern Michigan and Wisconsin, and the (g) Baraboo range of
southern Wisconsin. Other districts with similar ore occur in Ontario and
north and northeast of Lake Superior.
The rocks of the Lake Superior district range in age from Archean to
Cambrian with the following succession:
Succession of Rocks in Lake Superior Iron-ore District
Cambrian:
Potsdam sandstone.
Algonkian:
Keweenawan series (sediments, trap, gabbro, etc.).
Huronian series:
Upper Huronian quartzite, iron formation, and slate.
Middle Huronian quartzite, iron formation, and slate.
Lower Huronian quartzite, conglomerate, dolomite, slate, iron forma-
tion and instrusives.
Archean:
Laurentian series (granite, gneiss, and porphyry).
Keewatin series (greenstone, basic schists, and iron formation).
Of these rocks only the upper and middle Huronian and the Keewatin
contain productive iron-ore deposits. (*) Iron ores occur in the upper Huron-
ian, in the Mesaba, Cuyuna, Penokee-Gogebic, and Menominee districts; in
ttie middle Huronian, in the Baraboo district; in both the upper and the
middle Huronian, in the Marquette district; and in the Keewatin, in the
Vermilion district.
*Leith, C. K., a summary of Lake Superior geology with special reference t<?
recent studies of the iron-bearing series. Bimo. Bull. Am. Inst. Min. Eng. No. 3,
1905, p. 453.
—71—
The iron ores are contmed to the iron formations, in which they occur
as local concentration deposits, resulting largely from the leaching out of
silica from the iron formation, though partly from additional precipitation of
iron oxide. The iron formations are bedded deposits consisting chiefly of a
mixture of chert or quartz and ferric oxide segregated in Dands or mingled
irregularly. Banded iron formation which has become highly crystalline
through metamorphism and in which the bands are bright red is known as
jasper. The ordinary reddish-gray iron formation consisting of banded or
irregularly intermingled chert and iron oxide is known as ferruginous chert;
on the Mesabi range the local name "taconite" is appiled to it. There are
many other subordinate phases of the iron formations resulting from meta-
morphism or from an admixture with other sediments. Locally, masses of
cherty iron carbonate and hydrous ferrous silicate (greenaiitej occur, which
are supposed to be remnants of the original form in which the iron forma-
tions were deposited. Greenalite is characteristic of the Mesabi district,
and cherty iron carbonate occurs in all the other districts. The ferruginous
chert was formed by the weathering of the iron carbonate and greenalite.
Where the cherty iron carbonate has been altered by contact or regional
metamorphism, local areas of amphibole-magnetite rocks occur. Where the
ferruginous chert was metamorphosed, jasper is found. Frequently layers
and lenses of slate are found interbedded with the iron formation, and these
show all gradations to ferruginous chert. Paint rock, a decomposed slate
deeply stained and impregnated with ferric oxide, is characteristic of many
of the iron-ore deposits. It forms from slate lenses at tue same time that
the alteration of the surrounding iron formation to iron ore and ferruginous
chert is taking place. The last and most important phase of the iron forma-
tion is the iron ore itself, which occurs locally along the outcrop of the iron
formation where meteoric waters have had a chance to operate and where
favorable conditions for concentration prevail.
The rocks have suffered folding, faulting, and metamorphism to varying
degrees in the different ranges and these have influenced the form and char-
acter of the ore deposits, so that there is considerable valuation in different
districts and different parts of the same district.
Vermilion Range
(a) The Vermilion range is in northern Minnesota in the northern part
of St. Louis and Lake counties. The principal ore deposits are in the vicinity
of Tower and Ely, and occur in iron formation of Keewatin age. The rocks
are intricately folded and intensely metamorphosed, so that the iron forma-
tion is largely altered to jasper. The country rock is for the most part green-
stone in which the jasper is infolded in local syn clinical basins or trough, so
that areally it occurs in small patches surrounded by greenstone. The ores
are associated with the jasper in these troughs and generally have a foot
wall of greenstone. They consist of dense, hard, blue or red hematite, often
brecciated but rarely specular.
Mesabi Range
(b) The Mesabi range is in central St. Louis and southeastern Itasca
counties, Minn. The principal ore deposits are in the vicinity of Mesaba,
Colby, Biwabik, McKinley, Sparta, Eveleth, Virginia, Mountain Iron, Buhl,
Chisholm, Hibbing, Stevenson, and Nashwauk. The rocks of this region have
suffered less folding and metamorphism than those of tne other ranges.
They dip slightly to the southeast, so that the iron formation outcrops In a
—72—
general northeast-southwest belt. There are minor transverse folds. Above
the iron formation and to the south is a thick slate; underneath it is a thin
quartzite underlain by granite or graywacke and slate of lower-middle Huron-
ian age, the former composing the Giants range north of the district. The
iron formation is largely ferruginous chert, but at the eastern end of the
range a heavy gabbro formation has metamorphosed it to amphibole-magnet-
ite rock.
The iron ores cover large areas along the outcrop of the iron formation and
are irregular in their occurrence, though in general they are best developed
and most abundant at the minor transverse folds. The deposits are very
irregular in shape, frequently having big arms extending from the main de-
posits, and these in places connect with other deposits. They are of great
horizontal extent as compared with their vertical extent, being usually not
more than 200 feet in depth, while they may extend continuously in a hori-
zontal direction for a mile or more. Mining is carried on largely in large,
shallow, open pits, the ore being loaded with steam shovels directly on rail-
way cars and shipped without concentration. There are a few underground
mines, and here the mining is carried on either by milling or by the regular
underground methods.
The ore is a soft porous brown, red, or blue hematite of high grade. It
shows the layering of the original iron formation, and in places the ore layers
can be traced directly into the iron formation bounding the deposit. The ore
layers generally show a slumping near the contact, showing that material
has been leached from the iron formation during the process of ore concen-
tration. In many instances ore bodies are bounded by joint planes. The fol-
lowing description of the factors controlling the ore deposition on the Mesabi
range is given by Leith:*
The agent of the alteration is water, coming more or less directly from
the surface, carrying oxygen and carbon dioxide. The concentration of the
ores has been found to occur where such waters have been converged. Vari-
ous factors have determined this convergence — fracturing and brecciation of
the iron formation, existence of impervious layers in such attitudes as either
to converge waters coming from above or to impound the waters" and deflect
their course between two layers. * * * The iron formation and its asso-
ciated rocks lie in beds on the south slope of the Giants range, and dip off
gently to the south at angles averaging from 8 degrees to 10 degrees. In
addition to the general southward tilting of the beds, they are gently flexed
into folds with axes transverse to the trend of the range. Waters falling on
the south slope of the Giants range, and flowing to the south, enter the eroded
edges of the iron formation and continue their way down along its layers,
some of which are pervious and some of which are slaty and comparatively
impervious to water. The flow thus tends to become concentrated along the
axes of the synclines which pitch gently to the southward. Such synclines
are not necessarily surface troughs. They are evidenced by the attitude of
the layers of the iron formation, and may not be apparent in the unequally
eroded rock surface or at the surface of the irregular covering of glacial drift.
* * * Further study shows that other factors modify the circulation of
water and the localization of the ore, and that these secondary factors may
be locally dominant.
The most important of these modifying factors is the fracturing of the
iron formation which has furnished numerous trunk channels for the circula-
*Leith. C. K., a summary of Lake Superior geology with special reference to
recent studies of the iron-bearing series: Bimo. Bull. Am. Inst. Min. Eng., No. 3,
1905, pp. 485, 488, 489.
—73—
tion of underground waters. The water has been confined to narrow, irregu-
lar, and most devious trunk channels formed by the fracturing of the iron
formation, and while it has probably followed the fracture openings along
synclines to a greater extent than along anticlines, it has not filled the entire
syncline formed by the folding of the iron formation. The result is that the
ores have developed along limited and irregular areas within the synclines.
They may occupy a considerable part of the syncline, in which case the syn-
clinal structure of the iron formation may be observed in the layers of wall
rock adjacent to the ores. In other cases they occupy so small a proportion
of the syncline that the layers of the iron formation in the adjacent wall rock
give no indication of synclinal dips. Not infrequently several more or less
independent deposits may have developed in the same general syncline, as,
for instance, in the aera adjacent to the town of Virginia. To put it briefly,
the ores show such a position, irregularity, extent, and relations to wall rocks
as to make applicable the expression sometimes heard in the district that
the ores have developed through the "rotting" of the iron formation along
fractures, usually, but not always, in broad synclinal areas.
Other factors modifying the general underground flow of water in the
Mesabi iron formation are the numerous impervious slaty layers within the
iron formation, and the Virginia slate capping the iron formation of the
south; all of which have considerable effect in directing water circulation.
So far as the water is free to flow southward through the iron formation, the
impervious layers serve only to limit the flow below. But the continuous
south dip of the impervious strata carries the waters down to a point where
the ground is saturated and the waters are ponded between impervious layers
above and below. That ponding actually occurs is shown by the fact that
drill holes penetrating the slates and entering the iron formation frequently
meet water under pressure, indicating artesian conditions. When ponded,
the water seeks the lowest point of escape, which is likely to be found near
the north margin of the slate layers. The movement of the water toward
the lowest point of escape causes a considerable lateral movement in the cir-
culation, and this lateral movement has probably, at least in part, controlled
the shape of certain deposits on the range which have their longer dimen-
sions parallel to the strike of the layers of the iron formation.
The ponding of the water and consequent overflow has still another
effect. Where ponded the flow is governed by the point of lowest escape
rather than by the shape of the impervious basement. When water is drawn
off at the edge of a basin, the flow is greatest near the point of escape and
diminishes in all directions away from that point. This statement is true
where the bottom of the basin is flat or fluted; hence, in the Mesabi iron
formation, where the water is ponded, the flow is concentrated near the
point of lowest escape regardless of whether this be over a syncline or anti-
cline so far as both are below water level. The lowest point of escape is
likely to be over syn'dines, but the surface erosion, both by glacial and me-
teoric agencies, has been such that this is not always the case. For this
reason it is not certain that iron-ore deposits near the edge of the Virginia
slate or near the edge of the interstratafied slate layers may not have devel-
oped along arches as well as in synclines of the iron formation.
The above facts are intimately related to the problem of finding ore
under the solid black Virginia slate. The question is frequently asked, Is
there any reason why ore shall not be found under the black slate? The
absence of ore under the slate has not been demonstrated by actual drilling;
only a comparatively few holes have penetrated any considerable thickness
of the Virginia slate and entered the iron formation below. Yet such holes
as have been put down have revealed ore only near the slate margin and
frequently of low grade. In several cases the iron formation beneath the
slate has been shown to be of a green, unaltered variety, indicating that the
alteration necessary for the development of ore deposits has not gone far.
If the development of the ore is dependent upon a vigorous circulation and
this vigorous circulation is lacking under the Virginia slate because of the
ponding, we have here an adequate cause for the non-existence of ore deposits
under the black slate. Yet further work may show that other factors have
entered, and, considering the extent and value of the new iron-bearing terri-
tory which would be thrown open were ore found under the Virginia slate,
more actual drilling seems advisable to settle the question.
Cuyuna Range
(c) The Cuyuna district extends in a northeast-southwest direction
along the Northern Pacific Railway in the vicinity of Aitkln, Deerwood, and
Brainerd, in Crow Wing, Aitkin and Morrison counties, central Minnesota.
Geologically the district is situated along a series of minor northeast-south-
west anticlines in the broad synclinal basin, on the northern limb of which
is the Mesabi district and on the southern limb the Penokee-Gogebic district.
The first ore was discovered here in 1904 by drilling along a line of magnetic
attraction near Deerwood. No ore has been shipped from this district. Leith
gives the following description of the geology and structure of the dis-
trict:*
From the information so far available, consisting largely of drill samples,
the succession of rocks for the Cuyuna district, from the base upward, is as
follows:
Quartzite and its altered equivalents, quartzose, micaceous and horn-
blende schists.
Iron formation, consisting principally of iron carbonate where un-
altered, but • largely altered to amphibole-magnetite rock, ferruginous
slates, and iron ore. The ores thus far found are soft, reddish, slightly
hydrated hematite, reddish slaty hematite, and hard blue, banded, sili-
ceous magnetite and hematite.
Chloritic and carbonaceous slate, interbedded in its lower part with
"" iron formation.
Intrusive granite and diorite, principally the latter.
Cretaceous sediments.
Glacial drift, 80 to 350 feet.
It is possible that some of the igneous rock is really older than the sedi-
mentary series, and lies unconformably beneath it, but no evidence of this
has yet been found and the structural relations do not favor thts view.
So far as the sedimentary rocks go, the emphasis should be placed on the
altered phases, for they have all been much metamorphosed. Failure to
recognize the schists as parts of the sedimentary series has caused confusion
in the local interpretation of drill records. The changes in the quartzite
and slate to schists are the typical anamorphic changes of the zone of rock
flowage. When subsequently exposed at the surface, there has been a leach-
ing out of all of the basic constituents, leaving light-colored, soft, kaolinic
and quartzose schists. This action is most conspicuous in their upper 15 or
20 feet. The iron formation, originally mainly iron carbonate, has also
undergone anamorphism, resulting in the development of amphibole magnetite
*T,eith, C. K., The geology of the Cuyuna iron range, Minnesota: Econ. Geol-
ogy, vol. 2, p. 145.
—75—
rocks essentially similar to amphibole magnetite rocks wherever they are
found in other parts of the Lake Superior region. This action, however, was
not sufficiently effective to destroy a large part of the iron carbonate con-
stituting the original mass of the formation. When exposed to weathering,
the amphibole-magnetite rocks have remained substantially as they were,
being very resistant, although becoming somewhat softer. The iron car-
bonate has been altered to iron ore. The gradation phases between the iron
carbonate and slate have become ferruginous slates.
The anamorphism of the Cuyuna series is probably to be explained in
large part by the existence of intrusives in the area itself and to the west and
south of it.
The sedimentary series has been folded into a series of repeated folds,
as shown by drilling and magnetic work, and erosion has cut off the top of
the anticlines, exposing the iron formation in a number of oelts, in general
parallel, but presumably coming together at the ends of the folds. The dips
are thus for the most part high, in the neighborhood of 80 degrees, although
near the crests of the folds they are less. The folding has been accompanied
by the development of cleavage in the softer layers, especially in the softer
slates. Where the cleavage can be definitely distinguished from the bed-
ding, there is usually a slight angle between them, and the cleavage has the
steeper dip. The iron formation itself is less affected by the cleavage than
the slate.
The ores constitute the altered and concentrated upper parts of the
steeply dipping iron formation strata exposed by the erosion of the anticlines.
The hanging wall is commonly chloritic slate and iron* carbonate in varying
proportions and degrees of alteration; the foot wall is either a quartz schist
or amphibole-magnetite schist. Intrusives complicate these relations in
many deposits, suggesting that the presence of these rocks has favored the
development of the ore deposits. This is yet to be proved.
The ore bodies thus far found seem to be in the form of lenses 1 to 250
feet in thickness, with their longer dimensions parallel to the highly tilted
bedding of the series. It is probable that also several parallel or overlapping
lenses may be present, judging from analogy with the lower part of the Ani-
mikie series elsewhere in the Lake Superior region, as in the Paint River,
Crystal Falls, and western Menominee country. Along the strike these
lenses pinch out or widen, the change often being accompanied by a change
in grade of the ore. It is difficult to tell from the present state of exploration
just how far the parallel lenses are independent lenses in the same general
formation and how far they may be the result of duplication by folding. The
broader features of distribution are undoubtedly to be explained by folding.
There is a narrow zone of iron formation extending from east of Aitkin
southwest past Deerwood and Brainerd and for some distance west of the
Mississippi river, as shown by magnetic attractions and by drilling. This is
made up of a large number of short parallel and overlapping belts. Whether
these minor belts are repeated by folding or whether they are parallel, inde-
pendent lenses is not known. Six miles to the north, howe/er, in the vicinity
of Rabbit Lake, there is again a belt of iron formation which is undoubtedly
brought up here by folding, for if it were an independent belt in a mono-
clinal succession it would imply too great a thickness of intervening strata.
Still farther to the northwest between Rabbit Lake and Mississippi river
are at least two more belts of iron formation repeated by folding. Whether
the folds reappear again elsewhere, prospectors are now trying to determine.
The rock surface beneath the drift shows local variations of 100 feet or
—76—
more, and between widely separated points, because of the general slope
of the surface, may show a difference of elevation of as much as 250 feet.
Frequently the soft hanging-wall slates are found to be at lower elevations,
because of erosion, than the harder iron formation or the foot-wall quartzite
adjacent, as, for instance, near Pickands, Mather & Co.'s shaft in sec. 8, 45-29.
Notwithstanding these local irregularities of the surface, it is, in a broad
way, relatively flat. At many places in the district and in adjacent parts
of Minnesota cretaceous deposits are found just above the rock surface and
beneath the drift, suggesting that this flat surface may be part of a pre-Creta-
ceous base level or peneplain. The Cuyuna district contrasts in topography
of the rock surface with the producing ranges of the Lake Superior region,
where there is usually a marked ridge or range giving a head to the per-
colating surface waters of from 200 to 500 feet and making it possible for
the waters to circulate vigorously and accomplish ore concentration to con-
siderable depths where structural conditions allow. This suggests the in-
ference that in the Cuyuna district vigorously circulating ore-concentrating
waters may not have been effective to so great a depth as in other Lake Su-
perior iron ranges. On the other hand, if the ores were developed before
the base level and before reaching the present base levei, there may have
been greater topographic relief, which would have aided the alteration of the
rocks and concentration of the ore to a greater depth than would the present
relief. The existence of the heavy mantle of weathered material over the area
may represent a remnant of the weathered material which in the other dis-
tricts has been removed by glacial erosion. It is obvious that the Cuyuna dis-
trict has been one in which glacial deposition has predominated over glacial
erosion. When it is remembered that in the other Lake Superior districts
glacial erosion has probably removed large amounts of iron ore, the lack of
glacial erosion in the Cuyuna district may not be an unfavorable indication.
Gogebic Range
(d) The Penokee-Gogebic range is in northern Michigan and Wisconsin,
crossing the boundary in a northeast-southwest direction at'Ironwood. The
principal mines are at Hurley, Wis., and at Ironwood, Wakefield, and Besse-
mer, Mich.
The ores occur in iron formation of upper Huronian age which is over-
lain by slate and underlain by quartzite and black slate. Above the upper
slate is a heavy gabbro of Keweenawan age, which in a few localities has
come into contact with the iron formation and has metamorphosed it to jasper
and amphibole-magnetite rock. For the most part, however, the iron formation
is ferruginous chert. The sedimentary rocks dip steeply to the northwest.
They are cut by dikes of basic igneous rocks of probable Keweenawan age,
which cross them at varying angles to the bedding. The ores are concen-
trated in large irregular bodies in the angles between the foot-wall quartzite
or black slate and the igneous dikes. These two formations make an imper-
vious trough toward which underground channels for meteoric waters con-
verge and in which the waters are ponded and precipitate their load. The
deposits are of a different form and character from those of the Mesabi
range. Most of them reach depths of a thousand feet and upward, but their
horizontal extent is very much smaller than that of the deposits of the Mesabi
range. The ore is for the most part soft hydrated hematite, but hard slaty
ore is abundant, and more rarely needle ore is found. In a few deposits local
pockets of manganese oxide occur. Mining is carried on by underground
methods entirely.
Marquette Range
(e) The Marquette range, including the Republic and Swanzy areas,
occupies a large east and west elongated area west and southwest of Mar-
—77—
quette, Mich. The principal mines are in the vicinity of Michigamme, Negau-
nee, Ishpeming, Swanzy, and Republic. Iron formations occur in both the
upper and middle Huronian, the latter containing the principal ores. The
iron formation of the upper Huronian is underlain by quartzite and overlain
by slate. Ores occur locally as concentration deposits in the lower part of
the iron formation and in other places as detrital deposits at the base of the
quartzite underlying it. The latter type of ore is derived from deposits in
the underlying iron formation occurring at the top of the middle Huronian.
The middle Huronian iron formation (Negaunee) is underlain by slate, which
in turn is underlain by quartzite. The sedimentary rocks are abundantly in-
truded by dikes, bosses, and stocks of basic igneous rock of probable Keween-
awan age.
The sediments are folded into a great east-west synclinal basin com-
posed of a number of minor synclines and anticlines. Ores occur on both
limbs .of the basin, but are most abundant on the north limb. The deposits
near Ishpeming and Negaunee occur in a part of the basin where the upper
Huronian rocks have been eroded away and the middle Huronian iron forma-
tion is exposed over the entire width of the basin. The deposits near Repub-
lic are in a minor syncline branching southeastward from the western part
of the main basin. The Swanzy area is southeast of the main basin.
The ores of the middle Huronian and the detrital ores at the base of the
upper Huronian occur at nearly the same geologic horizon, and the latter are
derived from the former. The ores may be divided into three classes* (1)
Ores at the base oi the iron-bearing Negaunee (middle Huronian) formation;
(2) ores within the Negaunee formation; and (3) detrital ores at the base of
the Goodrich (upper Huronian) quartzite.
(1) The ores of this class occur only at the base of the Negaunee forma-
tion, and, therefore, at the outskirts of the iron formation areas. They occur
at places where the underlying slate has been Folded so as to form pitching
synclinal basins. In these impervious troughs the ore deposits have devel-
oped. In many places basic dikes have cut the rocks, and the ore has devel-
oped between the dikes and the slate, thus presenting a similarity to the de-
posits of the Penokee-Gogebic district.
(2) The ores of the second class are developed at the contact of the
iron formation with basic intrusions. They occur either in local irregular-
ities (basins) on the surface of the intrusive masses or in pitching troughs
formed between igneous masses and dikes branching out from them. The sur-
faces of the igneous masses are very much altered, leached out, and impreg-
nated with iron oxide, being changed largely to sbapstone and paint rock.
Many of the dikes are entirely altered.
(3) The detiital ores were formed by the breaking up of the deposits
of types (1) and (2) during the erosional period intervening between the
deposition of the middle and upper Huronian. These deposits are also
localized by pitching troughs in the basic intrusions, between dikes and
intrusive masses or slate layers, as are the lower ores. They may rest on
a basement of soapstone (altered igneous rock), iron formation, or slate.
The ore of classes (1) and (2) are chiefly soft hydrated hematite;
those of class (3) are hard, specular ores with some magnetite. The meta-
morphism of class (3) is apparently due to greater movement along the
contact of the middle and upper Huronian during the folding than within
these rocks themselves. With the hard ore are developed jasper and am-
phibole-magnetite rock.
*Van Hise, C. R., The iron-ore deposits of the Lake Superior region: Twenty-
first Ann. Kept. U. S. Geoi. Survey, pt. 3, 1901, p. 305.
—78—
Menominee Range
(f) The Menominee range, including the Crystal Falls, Iron River,
Metropolitan, and Florence areas, is in Dickinson and Iron counties, Mich.,
and extends across the boundary into Florence county, Wis. The principal
mines occur at Iron Mountain, Norway, Metropolitan, Crystal Falls, Amasa,
and Iron River, Mich., and at Florence, Wis.
Iron formations are found in both the upper and middle Huronian, but
only the former carry iron ores of commercial importance. The middle
Huronian iron formation is found only in the northern part of the district,
while the upper Huronian iron formation occurs in the southern part of
the district. Thus the productive areas are confined to the southern part
The upper Huronian iron formation is known as the Vulcan formation
in the Menominee district proper. The rocks are intricately folded so that
the structure of the range is very complicated. The ores of the different
areas occur in separate local basins or structural units.
The Vulcan formation in the Menominee district proper is divided into
three members, viz: The Curry iron-bearing member, the Brier slate mem-
ber, and the Traders iron-bearing member. It is overlain by upper Huronian
(Hanbury) slate and underlain by lower Huronian (Randville) dolomite.
Iron ores may occur at any horizon within the ore-bearing members, but
are more prevalent at the top or bottom. The deposits Are of large size
and occur on relatively impervious formations which are usually folded into
pitching troughs at the places where the ores are found. Pitching troughs
may be formed (1) by the dolomite underlying the Traders member, (2) by
a slate layer constituting the lower part of the Traders member and (3)
by the Brier slate underlying the Curry member.
The sedimentary formations are folded into two major anticlines
trending a little north of west so that the iron formation is distributed
in several belts, along which ore deposits occur locally. Minor folds are
superimposed on the major folds. The sediments are bounded on the
north by Archean granite and on the south by Archean (Quinnesec) schist.
The iron ores are principally gray, finely banded hematite with subor-
dinate amounts of flinty block hematite locally banded.
The iron-bearing formation in the outlying areas consists mainly of fer-
ruginous slates and cherts with some cherty iron carbonate. The former
are generally carbonaceous immediately above and below the ore-bearing
beds. The formation is underlain by slate, which is in turn underlain by
lower Huronian formations. Above the iron formation is the Michigamme
slate. In some of the outlying areas the iron formation and the underlying
slate have not been separated from the Michigamme slate.
In general the ores occur in pitching synclinal basins bottomed and
capped by slate layers. They are largely soft red hematite, considerably
hydrated in places.
Baraboo Range
(g) The Baraboo range is located in southern Wisconsin in the central
part of Sauk county. The principal deposits occur near the town of North
Freedom.
—79—
The Huronian rocks are in the form of an east and west elongated
syncline surrounded by Cambrian sandstone and containing a considerable
thickness of Cambrian sandstone within it. Thus only the rim of the syn-
cline consisting of heavy bedded quartzite is exposed. This quartzite forms
the base of the series and rests on Archean rock. Abo\e it is the Seeley
slate and above this the iron formation which carries the ores of the dis-
trict. The iron formation is overlain by the Freedom dolomite. The rocks
of the iron formation immediately associated with the ores are ferruginous
dolomite, ferruginous chert, and ferruginous slate.
The principal workable deposits have been found in the southwestern
portion of the syncline. The deposits are stratified and are conformable
with the beds above and below. They have the same dip and strike as the
associated rocks and are found dipping at angles varying from nearly ver-
tical to nearly horizontal.
The ore of the Baraboo range is of lower grade than the average ore
of the other Lake Superior ranges, generally containing less than 55 per
cent of iron. It is soft hydrated hematite, in many places containing so
much water as to be limonitic in character.
The iron ores of the Lake Superior district in general consist of high
(grade hematite, ranging from hard, dense, blue, specular nonhydrated ore
to soft, blue, red, or brown hydrated varieties. The upper portions of the
deposits in general are more hydrated than the lower portions and in places
contain sufficient water to form a brown ore. The ores are uniformly high
in iron and low in phosphorus, so that the great bulk is or Bessemer grade.
The soft ores, especially those of the Mesabi range, are frequently trouble-
some during smelting operations, but when they are mixed with hard ore
this trouble is remedied.
The following tables show the average composition of the iron ores
which are now mined and shipped in the Lake Superior district :
Average Analysis of Iron Ore Mined in the Lake Superior District During
1905
Fe . . 59.6 i P 067
SiO2 7.5 i S 019
Range in Composition of Iron Ore Mined in the Lake Superior District Dur-
ing 1906 and 1907
1906
1907
Fe
38.00-65.00
39.00-67.00
SiO2
2.00-40.00
1.00-43.00
P
.008-85
.01-1.00
s
006- 13
005- 14
Mn
.04-7.4
.03-8.7
*********
* *
* *
Clinton hematite. — Deposits of Clinton hematite occur in eastern Wis-
consin and in Missouri. Those of Wisconsin are of considerable importance
—80—
and have been mined for many years. Those of Missouri, according to H. A.
Buehler, have only been discovered recently by drilling ana occur at such
depths as not to be at present workable.
Iron Ridge Range
In Wisconsin, the principal Clinton ores occur near Iron Ridge and
Mayville, in eastern Dodge county, outcropping for several miles in a north
and south direction. The entire Clinton formation is represented by iron
ore which occurs in the form of a lens-shaped bed at the base of the Niagaran
limestone and overlying the Cincinnatian shale. Small deposits of no com-
mercial importance occur at the same horizon near Hartford, Washington
county; near De Pere, Brown county; and west of Sturgeon Bay, Door
county.
The bed in Dodge county varies in thickness from 15 to 25 feet and
is nearly horizontal, the overlying Niagaran limestone forming a westward
facing escarpment above it. The ore bed is made up of numerous horizontal
layers 3 to 14 inches in thickness.
The ore consists chiefly of small lenticular concretions. The prevailing
color is dark reddish-brown, though locally it becomes purple. It is gen-
erally soft and friable, containing just enough cement to keep the concre-
tions together. The top layer varying from 3 to 8 inches in thickness dif-
fers from the rest in being hard and compact and of a deep purple color with
bright scarlet streaks. It contains very few oolites and breaks with con-
choidal fracture. Clay is intermingled with ore in the lower layers.
The ore is of about the same grade as the soft Clinton ores of the
eastern district. It is smelted chiefly in local furnaces, though occasionally
shipments are made to Milwaukee.
BROWN ORE.
Bog ore. — Bog iron ores are found in small deposits throughout the Mis-
sissippi Valley, but only at a few localities have they been mined, the most
Important of which are in Wisconsin. They are usually in the form of
superficial blanket deposits mixed with more or less clay and earthy mat-
ter. Bog deposits are for the most part too small and isolated to pay for the
expense of mining and transportation. Occasionally, however, deposits of
such size are found as to permit the erection of a local furnace. Such de-
posits occur at Spring Valley and vicinity, Pierce county, Wis.
Limonite gossan. — Limonite gossan ore occurs in the upper part of the
lead and zinc deposits in the upper Mississippi Valley. It results from the
alteration of the iron sulphides, pyrite, and marcasite, which are associated
with lead and zinc sulphides in the deeper parts of the veins. The gossan
deposits of the Mississippi Valley are too small to be of commercial im-
portance.
MAGNETITE
Lake Superior magnetite. — Magnetite deposits worthy of notice are
found in the Marquette, Mesabi, and Gunflint ranges of the Lake Superior
district. They are related to the Lake Superior hematite deposits, being
—81—
formed from the cherty iron carbonate or from the hematite deposits by
igneous intrusives or by regional metamorphism. In the Marquette range
magnetite is formed" by both of these processes; in the other ranges it is
formed by contact metamorphism by the great gabbro mass of northern
Minnesota. This gabbro extends across the eastern pa/t of , the Mesabi
range and has altered the iron formation along the contact to amphibole-
magnetite rock and local magnetite deposits. Although considerable ex-
ploration has been done in this area, deposits of great importance have not
been found.
In the Gunflint district in northern Minnesota near the Canadian bound-
ary, the upper Huronian iron formations reappear from underneath the
gabbro and extend northeastward into the Animikie district, Ontario. Near
the gabbro contact the iron formation is altered to a coarsely crystalline
green quartzite, with beds and lenses of magnetite associated with various
ferrous silicates. The iron formation rests in Keewatin greenstone and dips
away from it at steep angles. The magnetite lenses are most abundant near
the contact with the greenstone.
Local occurrences of magnetite are also found at both ends of the
Penokee-Gogebic range where the gabbro has come into contact with the
iron formations.
Titaniferous magnetite. — Titaniferous magnetite in large bodies is re-
ported to occur locally in the great gabbro mass of northern Minnesota. The
most important of these deposits are located a short distance south of the
Gunflint district. Little has been done with them in the way of exploration
and they are practically unknown.
IRON CARBONATE
Iron carbonate. — Iron carbonate and silicate originally composed the
Lake Superior iron formation and are still found in scattered masses where
they have been protected from weathering processes. They are described
in connection with the Lake Superior hematite.
—82—
Bibliography
of
Publications on Lake Superior Iron Ores
ABBOTT, C. E. Iron ore deposits of the Ely trough, Vermilion range, Minne-
sota: Trans. Lake Sup. Min. Inst., vol. 12, p. 116.
ADAMS, FRANCIS S. The Cuyuna Range. Econ. Geol. Vol. 5, 1910, pp.
729-740; Vol. 6, 1911, pp. 60-70; (to be continued).
ANON. Mining methods on the Gogebic range: Eng. and Min. Jour., vol.
84, p. 245.
ANON. Swanzy iron-ore district: Iron Trade Rev., January, 1909.
BACON, D. H. The development of Lake Superior iron ores: Trans. Am.
Inst. Min. Eng., vol. 27, 1897, pp. 341-344.
BAILEY, C. E. Mining methods on the Mesabi Range: Trans. Am. Inst. Min.
Eng., vol. 27, 1897, pp. 529-536.
BAYLEY, W. S. The Menominee iron-bearing district of Michigan: Mon.
U. S. Geol. Survey, vol. 42, 1904.
, BAYLEY, W. S., and SMYTH, H. L. Preliminary report on the Mar-
quette iron-bearing district of Michigan: Fifteenth Ann. Rept. U. S.
Geol. Survey, 1894, pp. 477-650. Also same with atlas: Mon. U. S. Geol.
Survey, vol. 28, 1897.
BOSS, C. M. Some dike features of the Gogebic iron range: Trans. Am.
Inst. Min. Eng., vol. 27, 1897, pp. 556-563.
BRINSMADE. H. B. The great iron fields of the Lake Superior district: Min.
Sci., November 26, December 3, December 10, December 17, December 24,
and December 31, 1908, and January 7, 1909.
CARLYLE, E. J. The Pioneer iron mine, Ely, Minnesota: Jour. Can. Min.
Inst., vol. 7, p. 335.
CHAMBERLIN, T. C. Clinton iron-ore deposits: Geology of Wisconsin, 1873
to 1877, vol. 2, p. 327, and atlas.
CLEMENTS. J. M. The Vermilion iron-bearing district of Minnesota: Mon.
U. S. Geol. Survey, vol. 45, 1903.
Clements, J. M. and Smith, H. L. The Crystal Falls iron-bearing
district of Michigan. Mon. 36. U. S. Geol. Surv. 1899.
DENTON, F. W. Methods of iron mining in northern Minnesota: Trans.
Am. Inst. Min. Eng., vol. 27, 1897, pp. 344-390.
ELFTMAN, A. H. The Highland range in Minnesota: Eng. and Min. Jour.,
vol. 75, p. 447.
KURD, RUKARD Iron ore manual of the Lake Superior district, and 1911
values, with method for determining prices, premiums and penalties,
illustrative schedules, tables of values and statistical data, 1911.
IRVING, J. D. and VAN HISE, C. R. The Penokee iron-bearing series of
Michigan and Wisconsin: Tenth Ann. Rept. U. S. Geol. Survey, pt. 1,
1889, pp. 341-507.
IRVING, R. D. and VAN HISE, C. R. The Penokee iron-bearing series of
Michigan and Wisconsin: Mon. U. S. Geol. Survey, vol. 19, 1892.
JOPLING, J. E. The Marquette Range— Its discovery, development, and re-
sources: Trans. Am. Inst. Min. Eng., vol. 27, 1897, pp. 541-555.
—83—
LEITH, C. K. The Mesabi iron-bearing district of Minnesota: Mon. U. S
Geol. Survey, vol. 43, 1903.
. A summary of Lake Superior geology with special reference to re-
cent studies of the ironjbearing series: Trans. Am. Inst Min Eng , vol
35, 1904, pp. 454-507.
. The geology of the Cuyuna iron range, Minnesota: Econ. Geology,
vol. 2, pp. 145-152. 1907.
. Comparison of Mesaba and Gogabic ranges. Trans. Lake Sup. Min
Inst. Vol. 8, pp. 75-81.
LONGYEAR, E. J. Explorations on the Mesabi Range: Trans. Am. Inst. Min.
Eng., vol. 27, 1897, pp. 537-541.
MEEKS, R. The iron ore mines of the Mesabi range: Eng. and Min Jour,
vol. 84, p. 143.
SMYTH, H. L. and FINLAY, J. R. The geological structure of the western
part of the Vermilion Range, Minnesota: Trans. Am. Inst. Min. Eng., vol.
25, 1895, pp. 595-645.
, SMYTH, H. L., BAYLEY, W. S., and VAN HISE, C. R. The Crystal
Falls iron-bearing district of Michigan: Nineteenth Ann. Rept. U. S.
Geol. Survey, pt. 3, 1898, pp. 1-157; also Mon. U. S. Geol. Survey, vol. 36,
1899.
SPURR, J. E. The iron ores of the Mesabi range: Eng. and Min. Jour., vol.
57, p. 583.
THOMAS, KIRBY Mesabi iron range: Mines and minerals, vol. 23, p. 566.
Vermilion iron bearing district of Minnesota: Mines and minerals,
vol. 24, p. 546.
VAN HISE, C. R. The iron-ore deposits of the Lake Superior region: Twen-
ty-first Ann. Rept., U. S. Geol. Survey, pt. 3, 1901, pp. 305-434.
Van Hise, C. R. and Bayley, W. S. The Marquette iron-bearing
district of Michigan. Mon. 28. U. S. Geol. Survery, 1895.
. Van Hise, C. R. and C. K. Leith. Geology of the Lake Superior
region. Mon. 52. U. S. Geol. Survey 1911.
WEIDMANIN', S. The Baraboo iron-bearing district of Wisconsin: Bull. Wis-
consin Geol. and Nat. Hist. Survey No. 13, 1904.
WINCHELL, H. V. The iron ranges of Minnesota: Trans. Lake Sup. Min.
Inst., vol. 3, p. 15.
WINCHELL, N. H. Structures of the Mesabi iron- ore: Proc. Lake Sup. Min.
Inst., June, 1908.
. The Mesabi iron range: Trans. Amer. Inst. Min. Eng., vol. 21, p. 644.
WOODBRIDGE, D. E. Iron ore in Crow Wing county, Minnesota: Eng. and
Min. Jour., vol. 84, p. 775.
. Iron ore mining on the Mesabi range: Eng. and Min. Jour., vol 56,
p. 163.
. The Mesabi iron-ore range: Eng. and Min. Jour., vol. 79, pp. 74, 122,
170, 266, 319, 365, 466, 557, 892.
. Notes on recent work on the Mesabi range: Eng. and Min. Jour.,
vol. 76, p. 201.
. The Vermilion iron range in Minnesota: Eng. and Min. Jour., vol.
75, p. 261
ZAPFFE, CARL Geology of the Cuyuna iron ore district. Mining World,
April, 1911.
—84—
Addenda
IRON ORE RESERVES OF THE UNITED STATES.
Report of John Birkinbine
Resume of the Report of John Birkinbine on the Iron Ore Reserves of
the United States — marked Appendix A to Supplemental Report of Joseph
G. Butler, Jr., Filed with the Senate Finance Committee, June 15, 1909.
The foregoing will indicate that the reserves of iron ore in the Lake
Superior region, of material such as is now shipped, exceed 1,600,000,000
tons, and that this amount may be greatly augmented by the utilization of
some ore not now classed as desirable.
That in the Adirondack District of New York the ore reserves amount
to 125,000,000 tons, which may be supplemented by 25,000,000 tons of other
New York ores and the possibility of large future additions from the deposits
of Clinton ores in the center of the state.
That New Jersey has over 35,000,000 tons of available ore, and in addi-
tion 100,000,000 tons of concentrating ore can be obtained.
That Pennsylvania has reserves amounting to 45,000,000 tons, which
may be increased by liberal exploitations of Clinton and carbonate ores.
That the Southern States may be counted on for a supply exceeding
1,200,000,000 tons, and possibly a much larger amount.
The reserves in the Rocky Mountain region and west of this, tentatively
estimated as 100,000,000 tons, cover but a small part of the producing ter-
ritory.
The grand total is 3,230,000,000 tons.
That the new England and other Atlantic states and the Central states,
including Indiana, Illinois, Iowa, Mississippi, Missouri, Arkansas and Texas,
will further add to the reserves.
ABSTRACT OF REPORT FOR THE CONSERVATION COMMISSION
By Mr. C. Willard Hayes, Chief Geologist, United States Geological Sur-
vey, Marked Appendix C to Supplemental Report of Joseph G. Butler, Jr.
Filed with the Senate Finance Committee, June 15, 1909.
Available Not Available
Gross Tons Gross Ton*
Northeastern States
298000,000 1,095,000,000
Vermont
Massachusetts
Connecticut
New York
Maryland
New Jersey
Pennsylvania
Ohio
538440000 1,276,500,000
South Carolina
West Virginia
Eastern Kentucky
North Carolina
Lake Superior States.
Georgia
Alabama
East Tennessee
3,510,000,000 72,030,000,000
Michigan
Minnesota
Mississippi Valley States
Wisconsin
315,000,000 570,000,000
Northwest Alabama
West Tennessee
West Kentucky
Rocky Mountain States . . .
Iowa, Missouri
Arkansas
East Texas
57,760.000 120,665.000
Montana
Idaho
Wyoming, Colorado
Arizona
Pacific Slope States ....
Utah
Nevada
New Mexico
West Texas
68,950.000 23,905,000
Washington
California
Oregon
Total .
4,788,150,000 75,116,070,000
The total supplies are divided into two classes, "available" and "not available."
"Available." This class includes those Ores which can be worked at a profit under the con-
ditions at present existing in the Iron and Steel industry in the United States.
"Not Available." This class includes all Ores which cannot be worked at a profit under
existing conditions in the Iron and Steel industry.
—85—
UNITED STATES STEEL CORPORATION ESTIMATED rRON ORE
RESERVES
Marked Appendix F to Supplemental Report of Joseph G. Butler, Jr.. Filed with the
Senate Finance Committee June 15, 1909
GROSS TONS
Ores of Present
Standard
Commercially
Silicious and
Other Low
Grade Ores
Total
Northern Ores —
Total
Southern Ores —
Total Red and Brown
1,258,289,000
459,300,000
365,845,000
239,000,000
1,624,134,000
698,300,000
Total
1,717,589000
604 843,000
2,322,434,000
THE CONCLUSIONS OF JOSEPH G. BUTLER, JR.
And His Estimates on the Iron Ore Reserves of the United States — Made in
a Supplemental Report Filed With the Senate Finance.
Committee, June 15, 1909.
Lake Superior 1,618,000,000 tons
New York 750,000,000 tons
New Jersey 135,000,000 tons
Pennsylvania 45,000,000 tons
South 1,814,940,000 tons
Rocky Mountain District 100,000,000 tons
Total 4,462,940,000 tons
"Taking the figures of the United States Steel Corporation of the 'avail-
able ores, to-wit: 1,717,589,000 tons, it would appear that the corporation
owns 38^ per cent of the available, desirable ores."
SUMMARY OF THE ESTIMATES OF AVAILABLE IRON ORE RESERVES
OF THE UNITED STATES
Joseph G. Butler, Jr 4,462,940,000 tons
C. Willard Hayes 4,788,150,000 tons
John Birkinbine 3,230,000,000 tons
U. S. Steel Corporation 1,717,589,000 to-is
—86—
OLD RANGE- VERMILION
BESSEMER
NATURAL IRON ORE
LAKE ERIE PRICES
1911
17 TABLES
45 PER CENT TO 61 PER CENT
INCLUSIVE
COMPILED BY
RUKARD KURD
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
45.00
$3.15545
45.50
$3.24818
.01
3.15731
.51
3.25003
.02
3.15916
.52
3.25189
.03
3.16101
.53
3.25374
.04
3.16287
.54
3.25560
.05
3.16472
.55
3.25745
.06
3.16658
.56
3.25931
.07
3.16843
.57
3.26116
.08
3.17029
.58
3.26301
.09
3.17214
.59
3.26487
45.10
3.17400
45.60
3.26672
.11
3.17585
.61
3.26858
.12
3.17771
.62
3.27043
.13
3.17956
.63
3.27229
.14
3.18141
.64
3.27414
.15
3.18327
.65
3.27600
.16
3.18512
.66
3.27785
.17
3.18698
.67
3.27971
• .18
3 . 18883
.68
3.28156
.19
3 . 19069
.69
3.28341
45.20
3.19254
45.70
3.28527
.21
3 . 19440
.71
3.28712
.22
3.19625
72
3.28898
.23
3.19811
.73
3.29083
.24
3.19996
.74
3.29269
.25
3.20181
.75
3.29454
.26
3 . 20367
.76
3.29640
.27
3 . 20552
.77
3.29825
.28
3.20738
.78
3.30011
.29
3.20923
.79
3.30196
45.30
3.21109
45.80
3.30381
.31
3.21294
.81
3.30567
.32
3.21480
.82
3.30752
.33
3.21665
.83
3.30938
.34
3.21851
.84
3.31123
.35
3 . 22036
.85
3.31309
.36
3.22221
.86
3.31494
.37
3.22407
87
3.31680
.38
3.22592
.88
3.31865
.39
3.22778
.89
3.32051
45.40
3.22963
45.90
3.32236
.41
3.23149
.91
3.32421
.42
3.23334
.92
3.32607
.43
3.23520
.93
3 . 32792
.44
3.23705
.94
3.32978
.45
3.23891
.95
3.33163
.46
3.24076
.96
3 . 33349
.47
3.24261
.97
3.33534
.48
3 . 24447
.98
3.33720
.49
3.24632
.99
3.33905
—89—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
46.00
$3.34091
46.50
$3.43363
.01
3.34276
.51
3 . 43549
.02
3.34461
.52
3.43734
.03
3.34647
.53
3.43920
.04
3 . 34832
.54
3.44105
.05
3.35018
.55
3.44291
.06
3.35203
.56
3.44476
.07
3.35389
.57
3.44661
.08
3.35574
.58
3.44847
.09
3.35760
.59
3.45032
46.10
3.35945
46.60
3.45218
.11
3.36131
.61
3 . 45403
.12
3.36316
.62
3.45589
.13
3.36501
.63
3.45774
.14
3 . 36687
.64
3.45960
.15
3 . 36872
.65
3.46145
.16
3.37058
.66
3.46331
.17
3.37243
.67
3.46516
.18
3 . 37429
.68
3.46701
.19
3.37614
.69
3.46887
46.20
3 . 37800
46.70
3.47072
.21
3 . 37985
.71
3.47258
.22
3.38171
.72
3.47443
.23
3.38356
.73
3.47629
.24
3.38541
.74
3.47814
.25
3.38727
.75
3.48000
.26
3.38912
.76
3.48185
.27
3 . 39098
.77
3.48371
.28
3.39283
.78
3.48556
.29
3.39469
.79
3.48741
46.30
3.39654
46.80
3.48927
.31
3.39840
.81
3.49112
.32
3.40025
.82
3.49298
.33
3.40211
.83
3.49483
.34
3.40396
.84
3.49669
.35
3.40581
.85
3.49854
.36
3.40767
.86
3 . 50040
.37
3 . 40952
.87
3.50225
.38
3.41138
.88
3.50411
.39
3.41323
.89
3.50596
46.40
3.41509
46.90
3.50781
.41
3.41694
.91
3.50967
.42
3.41880
.92
3.51152
.43
3.42065
.93
3.51338
.44
3.42251
.94
3.51523
.45
3.42436
.95
3.51709
.46
3.42621
.96
3.51894
.47
3.42807
.97
3 . 52080
.48
3.42992
.98
3 . 52265
.49
3.43178
.99
3.52451
—90—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
47.00
$3.52636
47.50
$3.61909
.01
3.52821
.51
3 . 62094
.02
3.53007
.52
3 . 62280
.03
3.53192
.53
3 . 62465
.04
3.53378
.54
3.62651
.05
3 . 53563
.55
3.62836
.06
3.53749
.56
3.63021
.07
3.53934
.57
3.63207
.08
3.54120
.58
3.63392
.09
3.54305
.59
3.63578
47.10
3.54491
47.60
3 . 63763
.11
3.54676
.61
3 . 63949
.12
3.54861
.62
3.64134
.13
3 . 55047
.63
3 . 64320
.14
3.55232
.64
3.64505
.15
3.55418
.65
3.64691
.16
3 . 55603
.66
3.64876
ill
3.55789
3.55974
.67
.68
3.65061
3.65247
.19
3.56160
.69
3.65432
47.20
3.56345
47.70
3.65618
.21
3.56531
.71
3 . 65803
.22
3.56716
.72
3 . 65989
.23
3.56901
.73
3.66174
.24
3 . 57087
.74
3 . 66360
.25
3.57272
.75
3 . 66545
.26
3.57458
.76
3.66731
.27
3.57643
.77
3.66916
.28
3 . 57829
.78
3.67101
.29
3.58014
.79
3.67287
47.30
3.58200
47.80
3.67472
.31
3.58385
.81
3.67658
.32
3.58571
.82
3 . 67843
.33
3.58756
.83
3 . 68029
.34
3.58941
.84
3.68214
.35
3.59127
.85
3.68400
.36
3.59312
.86
3.68585
.37
3 . 59498
.87
3.68771
.38
3 . 59683
.88
3.68956
.39
3 . 59869
.89
3.69141
47.40
3.60054
47.90
3.69327
.41
3.60240
.91
3.69512
.42
3.60425
.92
3.69698
.43
3.60611
.93
3.69883
.44
3.60796
.94
3 . 70069
.45
3 . 60981
.95
3 . 70254
.46
3.61167
.96
3 . 70440
.47
3.61352
.97
3.70625
.48
3.61538
.98
3.70811
.49
3.61723
.99
3.70996
—91—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
48.00
$3.71181
48.50
$3 . 80454
.01
3.71367
.51
3 . 80640
.02
3.71552
.52
3 . 80825
.03
3.71738
.53
3.81011
.04
3.71923
.54
3.81196
.05
3.72109
.55
3.81381
.06
3.72294
.56
3.81567
.07
3.72480
.57
3.81752
.08
3 . 72665
.58
3.81938
.09
3 . 72851
.59
3.82123
48.10
3 . 73036
48.60
3.82309
.11
3.73221
.61
3.82494
.12
3.73407
.62
3.82680
.13
3.73592
.63
3.82865
.14
3.73778
.64
3.83051
.15
3 . 73963
65
3.83236
.16
3 74149
.66
3.83421
.17
3.74334
.67
3 . 83607
.18
3.74520
.68
3 - 83792
.19
3 . 74705
.69
3.83978
48.20
3.74891
48.70
3.84163
.21
3.75076
.71
3 . 84349
.22
3.75261
.72
3.84534
.23
3 . 75447
.73
3 . 84720
.24
3.75632
.74
3.84905
.25
3.75818
.75
3.85091
.26
3 . 76003
.76
3 . 85276
.27
3.76189
.77
3 . 85461
.28
3.76374
.78
3 . 85647
.29
3 . 76560
.79
3 . 85832
48.30
3.76745
48.80
3.86018
.31
3.76931
.81
3 . 86203
.32
3.77116
.82
3 . 86389
.33
3.77301
.83
3 . 86574
.34
3 . 77487
.84
3.86760
.35
3.77672
.85
3 . 86945
.36
3.77858
.86
3.87131
.37
3.78043
.87
3.87316
.38
3.78229
.88
3.87501
.39
3.78414
.89
3 . 87687
48.40
3 . 78600
48.90
3.87872
.41
3 . 78785
.91
3 . 88058
.42
3.78971
.92
3 . 88243
.43
3.79156
.93
3 . 88429
.44
3.79341
.94
3.88614
.45
3.79527
.95
3.88800
.46
3.79712
.96
3.88985
.47
3.79898
.97
3.89171
.48
3.80083
.98
3.89356
.49
3.80269
.99
3.89541
—92—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
nPr
Lake Erie Price
49.00
$3.89727
49.50
$3.96681
.01
3 . 89866
.51
3.96821
.02
3 . 90005
.52
3 . 96960
.03
3.90144
.53
3.97099
.04
3 . 90283
.54
3 . 97238
.05
3 . 90422
.55
3.97377
.06
3.90561
.56
3.97516
.07
3.90701
.57
3 . 97655
.08
3.90840
.58
3.97794
.09
3.90979
.59
3.97933
49.10
3.91118
49.60
3.98072
.11
3.91257
.61
3.98211
.12
3.91396
.62
3.98351
.13
3.91535
.63
3 . 98490
.14
3.91674
.64
3.98629
.15
3.91813
.65
3.98768
.16
3.91952
.66
3.98907
.17>
3.92091
.67
3.99046
.18
3.92231
.68
3.99185
.19
3.92370
.69
3.99324
49.20
3.92509
49.70
3 . 99463
.21
3 . 92648
.71
3.99602
.22
3 . 92787
.72
3.99741
.23
3.92926
.73
3.99881
.24
3.93065
.74
4.00020
.25
3.93204
.75
4.00159
.26
3.93343
.76
4.00298
.27
3.93482
.77
4.00437
.28
3.93621
.78
4.00576
.29
3.93761
.79
4.00715
49 . 30
3.93900
49.80
4.00854
.31
3.94039
.81
4.00993
.32
3.94178
.82
4.01132
.33
3.94317
.83
4.01271
.34
3.94456
.84
4.01411
.35
3.94595
.85
4.01550
.36
3.94734
.86
4.01689
.37
3.94873
.87
4.01828
.38
3.95012
.88
4.01967
.39
3.95151
.89
4.02106
49.40
3.95291
49.90
4.02245
.41
3 . 95430
.91
4.02384
.42
3.95569
.92
4.02523
.43
3.95708
.93
4.02662
.44
3.95847
.94
4.02801
.45
3 . 95986
.95
4.02941
.46
3.96125
.96
4 . 03080
.47
3.96264
.97
4.03219
.48
3.96403
.98
4.03358
.49
3.96542
.99
4.03497
—93—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
50.00
$4.03636
50.50
$4.08272
.01
4.03729
.51
4.08365
.02
4.03821
.52
4.08458
.03
4.03914
.53
4.08551
.04
4.04007
.54
4.08643
.05
4.04100
.55
4.08736
.06
4.04192
.56
4.08829
.07
4.04285
.57
4.08921
.08
4.04378
.58
4.09014
.09
4.04471
.59
4.09107
50.10
4 . 04563
50.60
4.09200
.11
4.04656
.61
4.09292
.12
4.04749
.62
4.09385
.13
4.04841
.63
4.09478
.14
4.04934
.64
4.09571
.15
4.05027
.65
4.09663
.16
4.05120
.66
4.09756
.17
4.05212
.67
4.09849
.18
4.05305
.68
4.09941
.19
4.05398
.69
4.10034
50.20
4.05491
50.70
4.10127
.21
4.05583
.71
4.10220
.22
4.05676
.72
4.10312
.23
4.05769
.73
4.10405
.24
4.05861
.74
4.10498
.25
4.05954
.75
4.10591
.26
4.06047
.76
4.10683
.27
4.06140
. 77
4.10776
.28
4.06232
.78
4.10869
.29
4.06325
.79
4.10961
50.30
4.06418
50.80
4.11054
.31
4.06511
.81
4.11147
.32
4.06603
. .82
4.11240
.33
4.06696
.83
4.11332
.34
4.06789
.84
4.11425
.35
4.06881
.85
4.11518
.36
4.06974
.86
4.11611
.37
4.07067
.87
4.11703
.38
4.07160
.88
4.11796
.39
4.07252
.89
4.11889
50.40
4.07345
50.90
4.11981
.41
4.07438
.91
4.12074
.42
4.07531
.92
4.12167
.43
4.07623
.93
4.12260
.44
4.07716
.94
4.12352
.45
4.07809
.95
4.12445
.46
4.07901
.96
4.12538
.47
4.07994
.97
4.12631
.48
4 . 08087
.98
4.12723
.49
4.08180
.99
4.12816
—94—
OF THE
UNIVERSITY
OF
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
51.00
$4.12909
51.50
$4.17545
.01
4.13001
.51
4.17638
.02
4.13094
.52
4.17731
.03
4.13187
.53
4.17823
.04
4.13280
.54
4.17916
.05
4.13372
.55
4.18009
.06
4.13465
.56
4.18101
.07
4.13558
.57
4.18194
.08
4.13651
.58
4.18287
.09
4.13743
.59
4.18380
51.10
4.13836
51.60
4.18472
.11
4.13929
.61
4.18565
.12
4.14021
.62
4.18658
.13
4.14114
.63
4.18751
.14
4.14207
.64
4.18843
.15
4.14300
.65
4.18936
.16
4.14392
.66
4.19029
.17
4.14485
.67
4.19121
.18
4.14578
.68
4.19214
.19
4.14671
.69
4.19307
51.20
4.14763
51.70
4.19400
.21
4.14856
.71
4.19492
.22
4.14949
.72
4.19585
.23
4.15041
.73
4.19678
.24
4.15134
.74
4.19771
.25
4.15227
.75
4.19863
.26
4.15320
.76
4.19956
.27
4.15412
.77
4.20049
.28
4.15505
.78
4.20141
.29
4.15598
.79
4.20234
51.30
4.15691
51.80
4.20327
.31
4.15783
.81
4 . 20420
.32
4.15876
.82
4.20512
.33
4.15969
.83
4 . 20605
.34
4.16061
.84
4 . 20698
.35
4.16154
.85
4.20791
.36
4.16247
.86
4.20883
.37
4.16340
.87
4.20976
.38
4.16432
.88
4.21069
.39
4.16525
.89
4.21161
51.40
4.16618
51.90
4.21254
.41
4.16711
.91
4.21347
.42
4.16803
.92
4.21440
.43
4.16896
.93
4.21532
.44
4.16989
.94
4.21625
.45
4.17081
.95
4.21718
.46
4.17174
.96
4.21811
.47
4.17267
.97
4.21903
.48
4.17360
.98
4.21996
^.49
4.17452
.99
4.220S9
—95—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
52.00
$4.22181
52.50
$4.26818
.01
4.22274
.51
4.26911
.02
4.22367
.52
4 . 27003
.03
4.22460 .
.53
4.27096
.04
4.22552
.54
4.27189
.05
4.22645
.55
4.27281
.06
4.22738
.56
4.27374
.07
4.22831
.57
4.27467
.08
4.22923
.58
4.27560
.09
4.23016
.59
4.27652
52.10
4.23109
52.60
4.27745
.11
4.23201
.61
4.27838
.12
4.23294
.62
4.27931
.13
4.23387
.63
4 . 28023
.14
4.23480
.64
4.28116
.15
4.23572
.65
4.28209
.16
4.23665
.66
4.28301
.17
4.23758
.67
4.28394
.18
4.23851
.68
4.28487
.19
4.23943
.69
4.28580
52.20
4.24036
52.70
4 . 28672
.21
4.24129
.71
4.28765
.22
4.24221
.72
4.28858
.23
4.24314
.73
4.28951
.24
4 . 24407
.74
4 . 29043
.25
4 . 24500
.75
4.29136
.26
4.24592
.76
4.29229
.27
4.24685
.77
4.29321
.28
4.24778
.78
4.29414
.29
4.24871
.79
4.29507
52.30
4.24963
52.80
4.29600
.31
4.25056
.81
4.29692
.32
4.25149
.82
4.29785
.33
4.25241
.83
4.29878
.34
4.25334
.84
4.29971
.35
4.25427
.85
4.30063
.36
4.25520
.86
4.30156
.37
4.25612
.87
4.30249
.38
4.25705
.88
4.30341
.39
4.25798
.89
4 . 30434
52.40
4.25891
52.90
4.30527
.41
4.25983
.91
4 . 30620
.42
4.26076
.92
4.30712
.43
4.26169
.93
4 . 30805
.44
4.26261
.94
4.30898
.45
4 . 26354
.95
4.30991
.46
4.26447
.96
4.31083
.47
4.26540
.97
4.31176
.48
4.26632
.98
4.31269
.49
4.26725
.99
4.31361
—96—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
53.00
$4.31454
53.50
$4.36091
.01
4.31547
.51
4.36183
.02
4.31640
.52
4.36276
.03
4.31732
.53
4.36369
.04
4.31825
.54
4.36461
.05
4.31918
.55
4.36554
.06
4.32011
.56
4.36647
.07
4.32103
.57
4.36740
.08
4.32196
.58
4.36832
.09
4.32289
.59
4.36925
53.10
4.32381
53.60
4.37018
.11
4.32474
.61
4.37111
.12
4.32567
.62
4.37203
.13
4.32660
.63
4.37296
.14
4.32752
.64
4.37389
.15
4.32845
.65
4.37481
.16
4.32938
.66
4.37574
.17
4.33031
.67
4.37667
.18
4.33123
.68
4.37760
.19
4.33216
.69
4.37852
53.20
4.33309
53.70
4.37945
.21
4.33401
.71
4.38038
.22
4.33494
.72
4.38131
.23
4.33587
.73
4.38223
.24
4.33680
.74
4.38316
.25
4.33772
.75
4.38409
.26
4.33865
.76
4.38501
.27
4.33958
.77
4.38594
.28
4.34051
.78
4.38687
.29
4.34143
.79
4.38780
53.30
4.34236
53.80
4.38872
.31
4.34329
.81
4 . 38965
.32
4.34421
.82
4.39058
.33
4.34514
.83
4.39151
.34
4.34607
.84
4.39243
.35
4.34700
.85
4.39336
.36
4.34792
.86
4.39429
.37
4.34885
.87
4.39521
.38
4.34978
.88
4.39614
.39
4.35071
.89
4.39707
53 . 40
4.35163
53 . 90
4.39800
.41
4.35256
.91
4.39892
.42
4.35349
.92
4.39985
.43
4.35441
.93
4.40078
.44
4 . 35534
.94
4.40171
.45
4.35627
.95
4.40263
.46
4.35720
.96
4.40356
.47
4 . 3581 2
.97
4.40449
.48
4 . 35905
.98
4.40541
.49
4 . 35998
.99
4 . 40634
—97—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
54.00
$4.40727
54.50
$4.45363
.01
4.40820
.51
4.45456
.02
4.40912
.52
4 . 45549
.03
4.41005
.53
4.45641
.04
4.41098
.54
4.45734
.05
4.41191
.55
4.45827
.06
4.41283
.56
4.45920
.07
4.41376
.57
4.46012
.08
4.41469
.58
4.46105
.09
4.41561
.59
4.46198
54.10
4.41654
54.60
4.46291
.11
4.41747
.61
4.46383
.12
4.41840
.62
4.46476
.13
4.41932
.63
4 . 46569
.14
4.42025
.64
4.46661
.15
4.42118
.65
4.46754
.16
4.42211
.66
4.46847
.17
4.42303
.67
4.46940
.18
4.42396
.68
4.47032
.19
4 . 42489
.69
4.47125
54.20
4.42581
54.70
4.47218
.21
4.42674
.71
4.47311
.22
4.42767
.72
4.47403
.23
4 . 42860
.73
4.47496
.24
4.42952
.74
4.47589
.25
4.43045
.75
4.47681
.26
4.43138
.76
4.47774
.27
4.43231
.77
4.47867
.28
4 . 43323
.78
4.47960
.29
4.43416
.79
4.48052
54 . 30
4 . 43509
54.80
4.48145
.31
4.43601
.81
4.48238
.32
4.43694
.82
4.48331
.33
4.43787
.83
4.48423
.34
4.43880
.84
4.48516
.35
4.43972
.85
4.48609
.36
4.44065
.86
4.48701
.37
4.44158
.87
4.48794
.38
4.44251
.88
4.48887
.39
4.44343
.89
4.48980
54.40
4.44436
54.90
4.49072
.41
4.44529
.91
4.49165
.42
4.44621
.92
4.49258
.43
4.44714
.93
4.49351
.44
4 . 44807
.94
4 . 49443
.45
4 . 44900
.95
4.49536
.46
4.44992
.96
4.49629
.47
4.45085
.97
4.49721
.48
4.45178
.98
4.49814
.49
4.45271
.99
4.49907
—98—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
55.00
$4 . 50000
55.50
$4.55136
.01
4.50102
.51
4.55239
.02
4.50205
.52
4.55341
.03
4.50308
.53
4.55444
.04
4.50411
.54
4.55547
.05
4.50513
.55
4 . 55650
.06
4.50616
.56
4.55752
.07
4.50719
.57
4.55855
.08
4.50821
.58
4.55958
.09
4 . 50924
.59
4.56061
55.10
4.51027
55.60
4.56163
.11
4.51130
.61
4.56266
.12
4.51232
.62
4.56369
.13
4.51335
.63
4.56471
.14
4.51438
.64
4 . 56574
.15
4.51541
.65
4.56677
.16
4.51643
.66
4 . 56780
.17
4.51746
.67
4 . 56882
.18
4.51849
.68
4.56985
.19
4.51951
.69
4.57088
55.20
4 . 52054
55.70
4.57191
.21
4.52157
.71
4.57293
.22
4.52260
.72
4.57396
.23
4.52362
.73
4.57499
.24
4.52465
.74
4.57601
.25
4 . 52568
.75
4.57704
.26
4.52671
.76
4.57807
.27
4.52773
.77
4.57910
.28
4.52876
.78
4.58012
.29
4.52979
.79
4.58115
55.30
4.53081
55.80
4.58218
.31
4.53184
.81
4.58321
.32
4.53287
.82
4 . 58423
.33
4.53390
.83
4.58526
.34
4 . 53492
.84
4.58629
.35
4.53595
.85
4.58731
.36
4.53698
.86
4.58834
.37
4.53801
.87
4.58937
.38
4 . 53903
.88
4 . 59040
.39
4 . 54006
.89
4.59142
55.40
4.54109
55.90
4.59245
.41
4.54211
.91
4.59348
.42
4.54314
.92
4.59451
.43
4.54417
.93
4.59553
.44
4.54520
.94
4 . 59656
.45
4.54622
.95
4 . 59759
.46
4.54725
.96
4.59861
.47
4 . 54828
.97
4 . 59964
.48
4.54931
.98
4r. 60067
.49
4.55033
.99
4.60170
—99—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
56.00
$4.60272
56.50
$4.65909
.01
4.60385
.51
4.66021
.02
4.60498
.52
4.66134
.03
4.60611
.53
4.66247
.04
4.60723
.54
4.66360
.05
4.60836
.55
4.66472
.06
4.60949
.56
4.66585
.07
4.61061
.57
4.66698
.08
4.61174
.58
4.66811
.09
4.61287
.59
4.66923
56.10
4.61400
56.60
4.67036
.11
4.61512
.61
4.67149
.12
4.61625
.62
4.67261
.13
4.61738
.63
4.67374
.14
4.61851
.64
4.67487
.15
4.61963
.65
4.67600
.16
4.62076
.66
4.67712
.17
4.62189
.67
4.67825
.18
4.62301
.48
4.67938
.19
4.62414
.69
4.68051
56.20
4.62527
56.70
4.68163
.21
4.62640
.71
4.68276
.22
4.62752
.72
4.68389
.23
4.62865
.73
4.68501
.24
4.62978
.74
4.68614
.25
4.63091
.75
4.68727
.26
4.63203
.76
4.68840
.27
4.63316
.77
4.68952
.28
4.63429
.78
4.69065
.29
4.63541
.79
4.69178
56.30
4.63654
56.80
4.69291
.31
4.63767
.81
4 . 69403
.32
4.63880
.82
4.69516
.33
4.63992
.83
4.69629
.34
4.64105
.84
4.69741
.35
4.64218
.85
4.69854
.36
4.64331
.86
4.69967
.37
4 . 64443
.87
4 . 70080
.38
4.64556
.88
4.70192
.39
4 . 64669
.89
4.70305
56.40
4.64781
56.90
4.70418
.41
4.64894
.91
4.70531
.42
4 . 65007
.92
4.70643
.43
4.65120
.93
4.70756
.44
4.65232
.94
4.70869
.45
4.65345
.95
4.70981
.46
4.65458
.96
4.71094
.47
4.65571
.97
4.71207
.48
4.65683
.98
4.71320
.49
4 . 65796
.99
4.71432
—100—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
57.00
$4.71545
57.50
$4.77681
.01
4.71668
.51
4.77804
.02
4.71791
.52
4.77927
.03
4.71913
.53
4 . 78050
.04
4.72036
.54
4.78172
.05
4.72159
.55
4.78295
.06
4.72281
.56
4.78418
.07
4.72404
.57
4.78541
.08
4.72527
.58
4 . 78663
.09
4.72650
.59
4.78786
57.10
4.72772
57.60
4 . 78909
.11
4.72895
.61
4.79031
.12
4.73018
.62
4.79154
.13
4.73141
.63
4.79277
.14
4 . 73263
.64
4.79400
.15
4 . 73386
.65
4.79522
.16
4.73509
.66
4.79645
.17
4.73631
.67
4.79768
.18
4.73754
.68
4.79891
.19
4.73877
.69
4.80013
57.20
4 . 74000
57.70
4.80136
.21
4.74122
.71
4 . 80259
.22
4.74245
.72
4.80381
.23
4.74368
.73
4 . 80504
.24
4.74491
.74
4 . 80627
.25
4.74613
.75
4.80750
.26
4.74736
.76
4 . 80872
.27
4.74859
.77
4 . 80995
.28
4.74981
.78
4.81118
.29
4.75104
.79
4.81241
57.30
4.75227
57.80
4.81363-
.31
4.75350
.81
4.81486
.32
4.75472
.82
4.81609
.33
4.75595
.83
4.81731
.34
4.75718
.84
4.81854
.35
4.75841
.85
4.81977
.36
4.75963
.86
4.82100
.37
4.76086
.87
4.82222
.38
4.76209
.88
4 . 82345
.39
4.76331
.89
4.82468
57.40
4 . 76454
57 . 90
4.82591
.41
4.76577
.91
4.82713
.42
4.76700
.92
4.82836
.43
4.76822
.93
4.82959
.44
4.76945
.94
4.83081
.45
4.77068
.95
4 . 83204
.46
4.77191
.96
4 . 83327
.47
4.77313
.97
4.83450
.48
4.77436
.98
4.83572
.49
4.77559
.99
4.83695
—101—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
58.00
$4.83818
58.50
$4.90454
.01
4.83951
.51
4.90587
.02
4.84083
.52
4.90720
.03
4.84216
.53
4.90852
.04
4.84349
.54
4.90985
.05
4.84481
.55
4.91118
.06
4.84614
.56
4.91251
.07
4.84747
.57
4.91383
.08
4.84880
.58
4.91516
.09
4.85012
.59
4.91649
58.10
4.85145
58.60
4.91781
.11
4 . 85278
.61
4.91914
.12
4.85411
.62
4 . 92047
.13
4.85543
.63
4.92180
.14
4 . 85676
.64
4.92312
.15
4.85809
.65
4.92445
.16
4.85941
.66
4.92578
.17
4.86074
.67
4.92711
.18
4.86207
.68
4.92843
.19
4.86340
.69
4.92976
58.20
4.86472
58.70
4.93109
.21
4 . 86605
.71
4.93241
.22
4 . 86738
.72
4.93374
.23
4.86871
.73
4.93507
.24
4.87003
.74
4.93640
.25
4.87136
.75
4.93772
.26
4.87269
.76
4.93905
.27
4.87401
.77
4 . 94038
.28
4.87534
.78
4.94171
.29
4.87667
.79
4.94303
58.30
4.87800
58.80
4.94436
.31
4 . 87932
.81
4.94569
.32
4 . 88065
.82
4.94701
.33
4.88198
.83
4.94834
.34
4.88331
.84
4.94967
.35
4 . 88463
.85
4.95100
.36
4 . 88596
.86
4.95232
.37
4.88729
.87
4.95365
.38
4 . 88861
.88
4.95498
.39
4 . 88994
.89
4.95631
58.40
4.89127
58.90
4.95763
.41
4 . 89260
.91
4.95896
.42
4.89392
.92
4.96029
.43
4.89525
.93
4.96161
.44
4.89658
.94
4.96294
.45
4.89791
.95
4.96427
.46
4.89923
.96
4.96560
.47
4.90056
.97
4.96692
.48
4.90189
.98
4.96825
.49
4.90321
.99
4 . 96958
—102—
OLD RANGE-VERMILION BESSEMER
Per Cent
Lake Erie Price
Per Cent
Lake Erie Price
Natural Iron
Natural Iron
59.00
$4.97091
59.50
$5.04227
.01
4.97233
.51
5.04370
.02
4.97376
.52
5.04512
.03
4.97519
.53
5.04655
.04
4.97661
.54
5.04798
.05
4.97804
.55
5.04941
.06
4.97947
.56
5.05083
.07
4.98090
.57
5.05226
.08
4.98232
.58
5.05369
.09
4.98375
.59
5.05511
59.10
4.98518
59.60
5.05654
.11
4.98661
.61
5.05797
.12
4.98803
.62
5.05940
.13
4.98946
.63
5.06082
.14
4.99089
.64
5.06225
.15
4.99231
.65
5.06368
.16
4.99374
.66
5.06511
.17
4.99517
.67
5.06653
.18
4.99660
.68
5.06796
.19
4.99802
.69
5.06939
59.20
4.99945
59.70
5.07081
.21
5.00088
.71
5.07224
.22
5.00231
.72
5.07367
.23,
5.00373
.73
5.07510
.24
5.00516
.74
5.07652
.25
5.00659
.75
5.07795
.26
5.00801
.76
5.07938
.27
5.00944
.77
5.08081
.28
5.01087
.78
5.08223
.29
5.01230
.79
5.08366
59.30
5.01372
59.80
5.08509
.31
5.01515
.81
5.08651
.32
5.01658
.82
5.08794
.33
5.01801
.83
5.08937
.34
5.01943
.84
5 . 09080
.35
5.02086
.85
5.09222
.36
5.02229
.86
5.09365
.37
5.02371
.87
5.09508
.38
5.02514
.88
5.09651
.39
5.02657
.89
5.09793
59.40
5.02800
59.90
5.09936
.41
5.02942
.91
5.10079
.42
5.03085
.92
5.10221
.43
5.03228
.93
5.10364
.44
5.03371
.94
5.10507
.45
5.03513
.95
5.10650
.46
5.03656
.96
5.10792
.47
5.03799
.97
5.10935
.48
5.03941
.98
5.11078
.49
5.04084
.99
5.11221
—103—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
60.00
$5.11363
60.50
$5.16000
.01
5.11456
.51
5.16092
.02
5.11549
.52
5.16185
.03
5.11641
.53
5.16278
.04
5.11734
.54
5.16371
.05
5.11827
.55
5.16463
.06
5.11920
.56
5.16556
.07
5.12012
.57
5.16649
.08
5.12105
.58
5.16741
.09
5.12198
.59
5.16834
60.10
5.12291
60.60
5.16927
.11
5.12383
.61
5.17020
.12 .
5.12476
.62
5.17112
.13
5.12569
.63
5.17205
.14
5.12661
.64
5.17298
.15
5.12754
.65
5.17391
.16
5.12847
.66
5.17483
.17
5.12940
.67
5.17576
.18
5.13032
.68
5.17669
.19
5.13125
.69
5.17761
60.20
5.13218
60.70
5.17854
.21
5.13311
.71
5.17947
.22
5.13403
.72
5.18040
.23
5.13496
.73
5*18132
.24
5.13589
.74
5.18225
.25
5.13681
.75
5.18318
.26
5.13774
.76
5.18411
.27
5.13867
.77
5.18503
.28
5.13960
.78
5.18596
.29
5.14052
.79
5.18689
60.30
5.14145
60.80
5.18781
.31
5.14238
.81
5.18874
.32
5.14331
.82
5.18967
.33
5.14423
.83
5.19060
.34
5.14516
.84
5.19152
.35
5.14609
.85
5.19245
.36
5.14701
.86
5.19338
.37
5.14794
.87
5.19431
.38
5.14887
.88
5.19523
.39
5.14980
.89
5.19616
60.40
5.15072
60.90
5.19709
.41
5.15165
.91
5.19801
.42
5.15258
.92
5.19894
.43
5.15351
.93
5.19987
.44
5.15443
.94
5.20080
.45
5.15536
.95
5.20172
.46
5.15629
.96
5.20265
.47
5.15721
.97
5 . 20358
.48
5.15814
.98
5.20451
.49
5.15907
.99
5.20543
—104—
OLD RANGE-VERMILION BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
61.00
$5.20636
61.50
$5.25272
.01
5.20729
.51
5.25365
.02
5.20821
.52
5 . 25458
.03
5.20914
.53
5.25551
.04
5.21007
.54
5.25643
.05
5.21100
.55
5.25736
.06
5.21192
.56
5.25829
.07
5.21285
.57
5.25921
.08
5.21378
.58
5.26014
.09
5.21471
.59-
5.26107
61.10
5.21563
61.60
5.26200
.11
5.21656
.61
5.26292
.12
5.21749
.62
5.26385
.13
5.21841
.63
5.26478
.14
5.21934
.64
5.26571
.15
5.22027
.65
5.26663
.16
5.22120
.66
5.26756
.17
5.22212
.67
5.26849
.18
5.22305
.68
5.26941
.19
5.22398
.69
5.27034
61.20
5.22491
61.70
5.27127
.21
5.22583
.71
5.27220
.22
5.22676
.72
5.27312
.23
5.22769
.73
5.27405
.24
5.22861
.74
5 . 27498
.25
5 . 22954
.75
5.27591
.26
5 . 23047
.76
5.27683
.27
5.23140
.77
5.27776
.28
5.23232
.78
5.27869
.29
5.23325
.79
5.27961
61.30
5.23418
61.80
5.28054
.31
5.23511
.81
5.28147
.32
5.23603
.82
5.28240
.33
5.23696
.83
5.28332
.34
5.23789
.84
5.28425
.35
5.23881
.85
5.28518
.36
5.23974
.86
5.286U
.37
5.24067
.87
5.28703
.38
5.24160
.88
5.28796
.39
5 . 24252
.89
5.28889
61.40
5.24345
61.90
5.28981
.41
5.24438
.91
5.29074
.42
5.24531
.92
5.29167
.43
5 . 24623
.93
5.29260
.44
5.24716
.94
5.29352
.45
5.24809
.95
5.29445
.46
5.24901
.96
5.29538
.47
5.24994
.97
5.29631
.48
5 . 25087
.98
5.29723
.49
5.25180
.99
5.29816
-105—
MESABA BESSEMER
NATURAL IRON ORE
LAKE ERIE PRICES
1911
17 TABLES
45 PER CENT TO 61 PER CENT
INCLUSIVE
COMPILED BY
RUKARD KURD
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
45.00
$2.97136
45.50
$3.05954
.01
2.97312
.51
3.06130
.02
2.97489
.52
3.06307
.03
2.97665
.53
3.06483
.04
2.97841
.54
3.06659
.05
2.98018
.55
3.06836
06
2.98194
.56
3.07012
.07
2.98370
.57
3.07189
.08
2.98547
.58
3.07365
.09
2 . 98723
.59
3.07541
45.10
2.98899
45.60
3.07718
.11
2.99076
.61
3.07894
.12
2.99252
.62
3.08070
.13
2 . 99429
.63
3.08247
.14
2.99605
.64
3.08423
.15
2.99781
.65
3.08599
.16
2.99958
.66
3.08776
.17
3.00134
.67
3.08952
.18
3.00310
.68
3.09129
.19
3.00487
.69
3.09305
45.20
3.00663
45.70
3.09481
.21
3.00839
.71
3.09658
.22
3.01016
.72
3.09834
.23
3.01192
.73
3.10010
.24
3.01369
.74
3.10187
.25
3.01545
.75
3.10363
.26
3.01721
.76
3.10539
.27
3.01898
.77
3.10716
.28
3 . 02074
.78
3 . 10892
.29
3.02250
.79
3.11069
45.30
3.02427
45.80
3.11245
.31
3.02603
.81
3.11421
.32
3.02779
.82
3.11598
.33
3.02956
.83
3.11774
.34
3.03132
.84
3.11950
.35
3.03309
.85
3.12127
.36
3.03485
.86
3.12303
.37
3.03661
.87
3.12479
.38
3.03838
.88
3.12656
.39
3.04014
.89
3.12832
45.40
3.04190
45.90
3.13009
.41
3.04367
.91
3.13185
.42
3.04543
.92
3.13361
.43
3.04719
.93
3.13538
.44
3.04896
.94
3.13714
.45
3.05072
.95
3.13890
.46
3.05249
.96
3.14067
.47
3.05425
.97
3.14243
.48
3.05601
.98
3.14419
.49
3.05778
.99
3.14596
—109—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
46.00
$3.14772
46.50
$3.23590
.01
3.14949
.51
3.23767
.02
3.15125
.52
3.23943
.03
3.15301
.53
3.24119
.04
3.15478
.54
3.24296
.05
3.15654
.55
3.24472
.06
3.15830
.56
3.24649
.07
3.16007
.57
3.24825
.08
3.16183
.58
3.25001
.09
3.16359
.59
3.25178
46.10
3.16536
46.60
3.25354
.11
3.16712
.61
3.25530
.12
3.16889
.62
3.25707
.13
3.17065
.63
3.25883
.14
3.17241
.64
3 . 26059
.15
3.17418
.65
3.26236
.16
3.17594
.66
3.26412
.17
3.17770
.67
3.26589
.18
3.17947
.68
3.26765
.19
3.18123
.69
3.26941
46.20
3.18299
46.70
3.27118
.21
3.18476
.71
3.27294
.22
3.18652
.72
3.27470
.23
3.18829
.73
3.27647
.24
3.19005
.74
3.27823
.25
3.19181
.75
3.27999
.26
3.19358
.76
3.28176
.27
3.19534
.77
3.28352
.28
3.19710
.78
3.28529
.29
3.19887
.79
3.28705
46.30
3.20063
46.80
3.28881
.31
3.20239
.81
3 . 29058
.32
3.20416
.82
3.29234
.33
3.20592
.83
3.29410
.34
3.20769
.84
3.29587
.35
3 . 20945
.85
3.29763
.36
3.21121
.86
3.29939
.37
3.21298
.87
3.30116
.38
3.21474
.88
3.30292
.39
3.21650
.89
3 . 30469
46.40
3.21827
46.90
3 . 30645
.41
3.22003
.91
3.30821
.42
3.22179
.92
3.30998
.43
3.22356
.93
3.31174
.44
3.22532
.94
3.31350
.45
3.22709
.95
3.31527
.46
3.22885
.96
3.31703
.47
3.23061
.97
3.31879
.48
3.23238
.98
3.32056
.49
3.23414
.99
3.32232
—110—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
47.00
$3 . 32409
47.50
$3.41227
.01
3.32585
.51
3.41403
.02
3.32761
.52
3.41579
.03
3.32938
.53
3.41756
.04
3.33114
.54
3.41932
.05
3.33290
.55
3.42109
.06
3.33467
.56
3 . 42285
.07
3.33643
.57
3.42461
.08
3.33819
.58
3.42638
.09
3.33996
.59
3.42814
47.10
3.34172
47.60
3.42990
.11
3.34349
.61
3.43167
.12
3.34525
.62
3.43343
.13
3.34701
.63
3.43519
.14
3.34878
.64
3.43696
.15
3.35054
.65
3.43872
.16
3.35230
.66
3.44049
.17
3 . 35407
.67
3.44225
.18
3.35583
.68
3.44401
- .19
3.35759
.69
3.44578
47.20
3.35936
47.70
3 . 44754
.21
3.36112
.71
3.44930
.22
3.36289
.72
3.45107
.23
3.36465
.73
3.45283
.24
3.36641
.74
3.45459
.25
3.36818
.75
3.45636
.26
3.36994
.76
3.45812
.27
3.37170
.77
3.45989
.28
3.37347
.78
3.46165
.29
3.37523
.79
3.46341
47.30
3.37699
47.80
3.46518
.31
3.37876
.81
3.46694
.32
3 . 38052
.82
3.46870
.33
3.38229
.83
3.47047
.34
3 . 38405
.84
3.47223
.35
3.38581
.85
3.47399
.36
3.38758
.86
3.47576
.37
3.38934
.87
3.47752
.38
3.39110
.88
3.47929
.39
3.39287
.89
3.48105
47.40
3.39463
47.90
3.48281
.41
3.39639
.91
3.48458
.42
3.39816
.92
3.48634
.43
3.39992
.93
3.48810
.44
3.40169
.94
3.48987
.45
3.40345
.95
3.49163
.46
3.40521
.96
3.49339
.47
3.40698
.97
3.49516
.48
3 . 40874
.98
3.49692
.49
3.41050
.99
3.49869
—111—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
48 . 00
$3 . 50045
48.50
$3 . 58863
.01
3.50221
.51
3 . 59039
.02
3 . 50398
.52
3.59216
.03
3 . 50574
.53
3 . 59392
.04
3.50750
.54
3 . 59569
.05
3 . 50927
.55
3.59745
.06
3.51103
.56
3.59921
.07
3.51279
.57
3 . 60098
.08
3.51456
.58
3 . 60274
.09
3.51632
.59
3.60450
48.10
3.51809
48.60
3 . 60627
.11
3.51985
.61
3 . 60803
.12
3.52161
.62
3 . 60979
.13
3.52338
.63
3.61156
.14
3.52514
.64
3.61332
.15
3.52690
.65
3.61509
.16
3.52867
.66
3.61685
.17
3.53043
.67
3.61861
.18
3.53219
.68
3 . 62038
.19
3 . 53396
.69
3.62214
48.20
3.53572
48.70
3.62390
.21
3.53749
.71
3 . 62567
.22
3.53925
.72
3.62743
.23
3.54101
.73
3.62919
.24
3.54278
.74
3 . 63096
.25
3 . 54454
.75
3.63272
.26
3 . 54630
.76
3.63449
.27
3.54807
. 77
3.63625
.28
3 . 54983
.78
3.63801
.29
3.55159
.79
3.63978
48.30
3 . 55336
48.80
3.64154
.31
3.55512
.81
3.64330
.32
3.55689
.82
3.64507
.33
3 . 55865
.83
3.64683
.34
3.56041
.84
3.64859
.35
3.56218
.85
3.65036
.36
3.56394
.86
3.65212
.37
3.56570
.87
3 . 65389
.38
3.56747
.88
3.65565
.39
3.56923
.89
3.65741
48.40
3 . 57099
48.90
3.65918
.41
3 . 57276
.91
3.66094
.42
3 . 57452
.92
3 . 66270
.43
3.57629
.93
3 . 66447
.44
,3 . 57805
.94
3 . 66623
.45
3.57981
.95
3 . 66799
.46
3.58158
.96
3 . 66976
.47
3 . 58334
.97
3.67152
.48
3.58510
.98
3.67329
.49
3.58687
.99
3.67505
-112—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
49 . 00
$3.67681
49.50
$3.74295
.01
3.67814
.51
3.74427
.02
3.67946
.52
3.74559
.03
3 . 68078
.53
3.74692
.04
3.68210
.54
3.74824
.05
3 . 68343
.55
3.74956
.06
3 . 68475
.56
3.75089
.07
3.68607
.57
3.75221
.08
3.68739
.58
3.75353
.09
3.68872
.59 '
3.75485
49.10
3 . 69004
49.60
3.75618
.11
3.69136
.61
3.75750
.12
3.69269
.62
3.75882
.13
3.69401
.63
3.76014
.14
3.69533
.64
3.76147
.15
3.69665
.65
3.76279
.16
3.69798
.66
3.76411
.17
3 . 69930
.67
3.76544
.18
3.70062
.68
3.76676
.19
3.70194
.69
3.76808
49.20
3.70327
49.70
3.76940
.21
3.70459
.71
3.77073
.22
3.70591
.72
3 . 77205
.23
3.70724
.73
3.77337
.24
3.70856
.74
3.77469
.25
3 . 70988
.75
3 . 77602
.26
3.71120
.76
3.77734
.27
3.71253
.77
3.77866
.28
3.71385
.78
3.77999
.29
3.71517
.79
3.78131
49.30
3.71649
49.80
3.78263
.31
3.71782
.81
3.78395
.32
3.71914
.82
3.78528
.33
3.72046
.83
3 . 78660
.34
3.72179
.84
3.78792
.35
3.72311
.85
3.78924
.36
3 . 72443
.86
3.79057
.37
3.72575
.87
3.79189
.38
3.72708
.88
3.79321
.39
3.72840
.89
3.79454
49 . 40
3.72972
49.90
3.79586
.41
3.73104
.91
3.79718
.42
3 . 73237
.92
3 . 79850
.43
3.73369
.93
3.79983
.44
3.73501
.94
3.80115
.45
3.73634
.95
3.80247
.46
3.73766
.96
3 . 80379
.47
3.73898
.97
3.80512
.48
3 . 74030
.98
3 . 80644
.49
3.74163
.99
3.80776
—113—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
50.00
$3.80909
50.50
$3.85318
.01
3 . 80997
.51
3.85406
.02
3.81085
.52
3.85494
.03
3.81173
.53
3.85582
.04
3.81261
.54
3 . 85670
.05
3.81349
.55
3.85758
.06
3.81438
.56
3 . 85847
.07
3.81526
.57
3 . 85935
.08
3.81614
.58
3.86023
.09
3.81702
.59
3.86111
50.10
3.81790
50.60
3.86199
.11
3.81878
.61
3.86288
.12
3.81967
.62
3.86376
.13
3.82055
.63
3 . 86464
.14
3.82143
.64
3 . 86552
.15
3.82231
.65
3 . 86640
.16
3.82319
.66
3.86728
.17
3.82408
.67
3.86817
.18
3.82496
.68
3.86905
.19
3.82584
.69
3 . 86993
50.20
3 . 82672
50.70
3.87081
.21
3.82760
.71
3.87169
.22
3.82848
.72
3.87258
.23
3.82937
.73
3.87346
.24
3.83025
.74
3.87434
.25
3.83113
.75
3.87522
.26
3.83201
.76
3.87610
.27
3.83289
.77
3.87698
.28
3.83378
.78
3.87787
.29
3.83466
.79
3.87875
50.30
3.83554
50 . 80
3 . 87963
.31
3.83642
.81
3.88051
.32
3.83730
.82
3.88139
.33
3.83818
.83
3.88228
.34
3.83907
.84
3.88316
.35
3.83995
.85
3.88404
.36
3.84083
.86
3.88492
.37
3.84171
.87
3.88580
.38
3 . 84259
.88
3 . 88668
.39
3 . 84348
.89
3 . 88757
50.40
3 . 84436
50.90
3 . 88845
.41
3 . 84524
.91
3 . 88933
.42
3.84612
.92
3.89021
.43
3 . 84700
.93
3.89109
.44
3.84788
.94
3.89198
.45
3.84877
.95
3.89286
.46
3.84965
.96
3.89374
.47
3 . 85053
.97
3.89462
.48
3.85141
.98
3.89550
.49
3.85229
.99
3.89638
-114-
Of THE
UNIVERSITY
OF
ILjFORHV!
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent-
Natural Iron
Lake Erie Price
51.00
$3.89727
51.50
$3.94136
.01
3.89815
.51
3.94224
.02
3 . 89903
.52
3.94312
.03
3.89991
.53
3 . 94400
.04
3 . 90079
.54
:'. . 04488
.05
3.90168
.55
3.94577
.06
3.90256
.56
3.94665
.07
3.90344
.57
3.94753
.08
3.90432
.58
3.94841
.09
3.90520
.59 .
3.94929
51.10
3 . 90608
51.60
3.95018
.11
3 . 90697
.61
3.95106
.12
3.90785
.62
3.95194
.13
3.90873
.63
3 . 95282
.14
3.90961
.64
3.95370
.15
3.91049
.65
3.95458
.16
3.91138
.66
3.95547
.17
3.91226
.67
3.95635
.18
3.91314
.68
3.95723
.19
3.91402
.69
3.95811
51.20
3.91490
51.70
3.95899
.21
3.91578
.71
3 . 95988
.22
3.91667
.72
3 . 96076
.23
3.91755
.73
3.96164
.24
3.91843
.74
3.96252
.25
3.91931
.75
3 . 96340
.26
3.92019
.76
3 . 96428
.27
3.92108
.77
3.96517
.28
3.92196
.78
3.96605
.29
3.92284
.79
3 . 96693
51.30
3.92372
51.80
3.96781
.31
3 . 92460
.81
3.96869
.32
3.92548
.82
3.96958
.33
3.92637
.83
3.9J046
.34
3.92725
.84
3.97134
.35
3.92813
.85
3.97222
.36
3.92901
.86
3.97310
.37
3.92989
.87
3.97398
.38
3 . 93078
.88
3 . 97487
.39
3.93166
.89
3.97575
51 . 40
3.93254
51.90
3.97663
.41
3 . 93342
.91
3.97751
.42
3.93430
.92
3.97839
.43
3.93518
.93
3.97928
.44
3.93607
.94
3.98016
.45
3.93695
.95
3.98104
.46
3.93783
.96
3.98192
.47
3.93871
.97
3 . 98280
.48
3 . 93959
.98
3 . 98368
.49
3.94048
.99
3.98457
—115—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
52.00
$3 . 98545
52.50
$4 . 02954
.01
3 . 98633
.51
4.03042
.02
3.98721
.52
4.03130
.03
3 . 98809
.53
4.03218
.04
3.98898
.54
4 . 03307
.05
3.98986
.55
4.03395
.06
3.99074
.56
4.03483
.07
3.99162
.57
4.03571
.08
3.99250
.58
4.03659
.09
3.99338
.59
4.03748
52.10
3.99427
52.60
4 . 03836
.11
3.99515
.61
4.03924
.12
3 . 99603
.62
4.04012
.13
3.99691
.63
4.04100
.14
3.99779
.64
4.04188
.15
3.99868
.65
4.04277
.16
3.99956
.66
4 . 04365
.17
4 . 00044
.67
4.04453
.18
4.00132
.68
4.04541
.19
4.00220
.69
4.04629
52.20
4 . 00308
52.70
4.04718
.21
4 . 00397
.71
4 . 04806
.22
4.00485
.72
4.04894
.23
4.00573
.73
4 . 04982
.24
4.00661
.74
4.05070
.25
4.00749
.75
4.05158
.26
4.00838
.76
4.05247
.27
4.00926
.77
4.05335
.28
4.01014
.78
4.05423
.29
4.01102
.79
4.05511
52 . 30
4.01190
52.80
4.05599
.31
4.01278
.81
4.05688
.32
4.01367
.82
4.05776
.33
4.01455
.83
4.05864
.34
4.01543
.84
4.05952
.35
4.01631
.85
4 . 06040
.36
4.01719
.86
4.06128
.37
4.01808
.87
4.06217
.38
4.01896
.88
4.06305
.39
4.01984
.89
4 . 06393
52.40
4.02072
52.90
4.06481
.41
4.02160
.91
4.06569
.42
4.02248
.92
4 . 06658
.43
4.02337
.93
4.06746
.44
4.02425
.94
4 . 06834
.45
4.02513
.95
4.06922
.46
4.02601
.96
4.07010
.47
4.02689
.97
4.07098
.48
4.02778
.98
4.07187
.49
4.02866
.99
4.07275
—116—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
53.00
$4.07363
53.50
$4.11772
.01
4.07451
.51
4.11860
.02
4.07539
.52
4.11948
.03
4.07628
.53
4.12037
.04
4.07716
.54
4.12125
.05
4.07804
.55
4.12213
.00
4.07892
.56
4.12301
.07
4.07980
.57
4.12389
.08
4 . 08068
.58
4.12478
.09
4.08157
.59 *
4.12566
53 . 10
4.08245
53 . 60
4.12654
.11
4.08333
.61
4.12742
.12
4.08421
.62
4.12830
.13
4.08509
.63
4.12918
.14
4.08598
.64
4.13007
.15
4.08686
.65
4.13095
.16
4.08774
.66
4.13183
.17
4.08862
.67
4.13271
.18
4 . 08950
.68
4.13359
.19
4.09038
.69
4.13448
53 . 20
4.09127
53 . 70
4.13536
.21
4.09215
.71
4.13624
.22
4.09303
.72
4.13712
.23
4.09391
.73
4.13800
.24
4.09479
.74
4.13888
.25
4.09568
.75
4.13977
.26
4.09656
.76
4.14065
.27
4.09744
.77
4.14153
.28
4.09832
.78
4.14241
.29
4.09920
.79
4.14329
53 . 30
4.10008
53.80
4.14418
.31
4.10097
.81
4.14506
.32
4.10185
.82
4.14594
.33
4.10273
.83
4.14682
.34
4.10361
.84
4.14770
.35
4.10449
.85
4.14858
.36
4.10538
.86
4.14947
.37
4.10626
.87
4.15035
.38
4.10714
.88
4.15123
.39
4.10802
.89
4.15211
53.40
4.10890
53 . 90
4.15299
.41
4.10978
.91
4.15388
.42
4.11067
.92
4.15476
.43
4.11155
.93
4.15564
.44
4.11243
.94
4.15652
.45
4.11331
.95
4.15740
.46
4.11419
.96
4.15828
.47
4.11508
.97
4.15917
.48
4.11596
.98
4.16005
.49
4.11684
.99
4.16093
—117—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
54.00
$4.16181
54.50
$4.20590
.01
4.16269
.51
4.20678
.02
4.16358
.52
4.20767
.03
4.16446
.53
4 . 20855
.04
4.16534
.54
4.20943
.05
4.16622
.55
4.21031
.06
4.16710
.56
4.21119
.07
4.16798
.57
4.21208
.08
4.16887
.58
4.21296
.09
4.16975
.59
4.21384
54.10
4.17063
54.60
4.21472
.11
4.17151
.61
4.21560
.12
4.17239
.62
4.21648
.13
4.17328
.63
4.21737
.14
4.17416
.64
4.21825
.15
4.17504
.65
4.21913
.16
4.17592
.66
4.22001
.17
4.17680
.67
4.22089
.18
4.17768
.68
4.22178
.19
4.17857
.69
4.22266
54.20
4.17945
54.70
4.22354
.21
4.18033
. 71
4.22442
.22
4.18121
.72
4.22530
.23
4.18209
.73
4.22618
,24
4.18298
.74
4.22707
.25
4.18386
.75
4.22795
.26
4.18474
.76
4.22883
.27
4.18562
.77
4.22971
.28
4.18650
.78
4.23059
.29
4.18738
.79
4.23148
54.30
4.18827
54.80
4 . 23236
.31
4.18915
.81
4.23324
.32
4.19003
.82
4.23412
.33
4.19091
.83
4.23500
.34
4.19179
.84
4 . 23588
.35
4.19268
.85
4.23677
.36
4.19356
.86
4.23765
.37
4.19444
.87
4 . 23853
.38
4.19532
.88
4.23941
.39
4.19620
.89
4.24029
54.40
4.19708
54.90
4.24118
.41
4.19797
.91
4.24206
.42
4.19885
.92
4.24294
.43
4.19973
.93
4.24382
.44
4.20061
.94
4.24470
.45
4.20149
.95
4.24558
.46
4.20238
.96
4.24647
.47
4.20326
.97
4.24735
.48
4.20414
.98
4.24823
.49
4.20502
.99
4.24911
—118—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
55.00
$4.24999
55.50
$4.29908
.01
4.25098
.51
4.30007
.02
4.25196
.52
4.30105
.03
4.25294
.53
4.30203
.04
4.25392
.54
4.30301
.05
4.25490
.55
4.30399
.06
4.25588
.56
4.30498
.07
4.25687
.57
4 . 30596
.08
4.25785
.58
4.30694
.09
4.25883
.59
4.30792
55.10
4.25981
55.60
4.30890
.11
4.26079
.61
4.30988
.12
4.26178
.62
4.31087
.13
4.26276
.63
4.31185
.14
4.26374
.64
4.31283
.15
4.26472
.65
4.31381
.16
4.26570
.66
4.31479
.17
4.26668
.67
4.31578
.18
4.26767
.68
4.31676
.19
4.26865
.69
4.31774
55.20
4.26963
55.70
4.31872
.21
4.27061
.71
4.31970
.22
4.27159
.72
4.32068
.23
4.27258
.73
4.32167
.24
4.27356
.74
4.32265
.25
4.27454
.75
4.32363
.26
4.27552
.76
4.32461
.27
4.27650
.77
4.32559
.28
4.27748
.78
4.32658
.29
4.27847
.79
4.32756
55.30
4.27945
55.80
4.32854
.31
4.28043
.81
4.32952
.32
4.28141
.82
4.33050
.33
4.28239
.83
4.33148
.34
4.28338
.84
4 . 33247
.35
4.28436
.85
4.33345
.36
4.28534
.86
4.33443
.37
4.28632
.87
4.33541
.38
4.28730
.88
4.33639
.39
4.28828
.89
4.33738
55.40
4.28927
55.90
4.33836
.41
4.29025
.91
4.33934
.42
4.29123
.92
4.34032
.43
4.29221
.93
4.34130
.44
4.29319
.94
4.34228
.45
4.29418
.95
4.34327
.46
4.29516
.96
4.34425
.47
4.29614
.97
4.34523
.48
4.29712
.98
4.34621
.49
4.29810
.99
4.34719
—119—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
56.00
$4.34818
56.50
$4.40227
.01
4.34926
.51
4.40335
.02
4.35034
.52
4 . 40443
.03
4.35142
.53
4.40551
.04
4.35250
.54
4.40659
.05
4.35358
.55
4.40768
.06
4.35467
.56
4.40876
.07
4.35575
.57
4.40984
.08
4.35683
.58
4.41092
.09
4.35791
.59
4.41200
56.10
4.35899
56.60
4.41308
.11
4.36008
.61
4.41417
.12
4.36116
.62
4.41525
.13
4.36224
.63
4.41633
.14
4.36332
.64
4.41741
.15
4.36440
.65
4.41849
.16
4.36548
.66
4.41958
.17
4.36657
.67
4.42066
.18
4.36765
.68
4.42174
.19
4.36873
.69
4 . 42282
56.20
4.36981
56.70
4 . 42390
.21
4.37089
.71
4.42498
.22
4.37198
.72
4.42607
.23
4.37306
.73
4.42715
.24
4.37414
.74
4 . 42823
.25
4.37522
.75
4.42931
.26
4.37630
.76
4.43039
.27
4.37738
. 77
4.43148
.28
4.37847
.78
4.43256
.29
4.37955
.79
4.43364
56.30
4.38063
56.80
4.43472
.31
4.38171
.81
4.43580
.32
4.38279
.82
4.43688
.33
4.38388
.83
4.43797
.34
4 . 38496
.84
4.43905
.35
4.38604
.85
4.44013
.36
4.38712
.86
4.44121
.37
4.38820
.87
4.44229
.38
4.38928
.88
4.44338
.39
4.39037
.89
4 . 44446
56.40
4.39145
56.90
4.44554
.41
4.39253
.91
4.44662
.42
4.39361
.92
4.44770
.43
4.39469
.93
4.44878
.44
4.39578
.94
4.44987
.45
4.39686
.95
4.45095
.46
4.39794
.96
4.45203
.47
4.39902
.97
4.45311
.48
4.40010
.98
4.45419
.49
4.40118
.99
4.45528
—120—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
57.00
$4.45636
57.50
$4.51545
.01
4.45754
.51
4.51663
.02
4.45872
.52
4.51781
.03
4.45990
.53
4.51899
.04
4.46108
.54
4.52018
.05
4.46227
.55
4.52136
.06
4 . 46345
.56
4.52254
.07
4 . 46463
.57
4.52372
.08
4.46581
.58
4 . 52490
.09
4 . 46699
.59 .
4 . 52608
57.10
4.46818
57 . 60
4.52727
.11
4.46936
.61
4.52845
.12
4 . 47054
.62
4.52963
.13
4.47172
.63
FT 4.53081
.14
4.47290
.64
' 4.53199
.15
4.47408
.65
4.53318
.16
4.47527
.66
4.53436
.17
4.47645
.67
4.53554
.18
4.47763
.68
4.53672
.19
4.47881
.69
4 . 53790
57 . 20
4.47999
57.70
4.53908
.21
4.48118
.71
4.54027
.22
4 . 48236
.72
4.54145
.23
4.48354
.73
4.54263
.24
4.48472
.74
4.54381
.25
4 . 48590
.75
4 . 54499
.26
4 . 48708
.76
4.54618
.27
4.48827
.77
4 . 54736
.28
4 . 48945
.78
4 . 54854
.29
4.49063
.79
4.54972
57.30
4.49181
57.80
4.55090
.31
4.49299
.81
4.55208
.32
4.49418
.82
4.55327
.33
4 . 49536
.83
4.55445
.34
4 . 49654
.84
4.55563
.35
4.49772
.85
4.55681
.36
4 . 49890
.86
4.55799
.37
4 . 50008
.87
4.55918
.38
4.50127
.88
4.56036
.39
4.50245
.89
4.56154
57.40
4 . 50363
57.90
4 . 56272
.41
4.50481
.91
4 . 56390
.42
4 . 50599
.92
4.56508
.43
4.50718
.93
4.56627
.44
4 . 50836
.94
4.56745
.45
4.50954
.95
4.56863
.46
4.51072
.96
4.56981
.47
4.51190
.97
4.57099
.48
4.51308
.98
4.57218
.49
4.51427
.99
4.57336
—121—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
58.00
$4 . 57454
58.50
$4.63863
.01
4.57582
.51
4.63991
.02
4.57710
.52
4.64119
.03
4.57838
.53
4.64248
.04
4.57967
.54
4.64376
.05
4.58095
.55
4.64504
.06
4.58223
.56 •
4.64632
.07
4.58351
.57
4.64760
.08
4.58479
.58
4.64888
.09
4.58608
.59
4.65017
58.10
4.58736
58.60
4.65145
.11
4 . 58864
.61
4.65273
.12
4.58992
.62
4.65401
.13
4.59120
.63
4.65529
.14
4.59248
.64
4.65658
.15
4.59377
.65
4.65786
.16
4.59505
.66
4.65914
.17
4.59633
.67
4 . 66042
.18
4.59761
.68
4.66170
.19
4.59889
.69
4.66298
58.20
4.60018
58.70
4.66427
.21
4.60146
.71
4.66555
.22 •
4.60274
.72
4.66683
.23
4 . 60402
.73
4.66811
.24
4.60530
.74
4.66939
.25
4.60658
.75
4.67068
.26
4.60787
.76
4.67196
.27
4.60915
.77
4.67324
.28
4.61043
.78
4.67452
.29
4.61171
.79
4.67580
58.30
4.61299
58.80
4.67708
.31
4.61428
.81
4.67837
.32
4.61556
.82
4.67965
.33
4.61684
.83
4 . 68093
.34
4.61812
.84
4.68221
.35
4.61940
.85
4.68349
.36
4.62068
.86
4.68478
.37
4.62197
.87
4.68606
.38
4.62325
.88
4.68734
.39
4.62453
.89
4.68862
58.40
4.62581
58.90
4.68990
.41
4.62709
.91
4.69118
.42
4.62838
.92
4.69247
.43
4.62966
.93
4.69375
.44
4.63094
.94
4.69503
.45
4.63222
.95
4.69631
.46
4.63350
.96
4.69759
.47
4.63478
.97
4.69888
.48
4.63607
.98
4.70016
.49
4.63735
.99
4.70144
—122—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
59.00
$4.70272
59.50
$4.77181
.01
4.70410
.51
4.77319
.02
4.70548
.52
4.77458
.03
4 . 70687
.53
4.77596
.04
4.70825
.54
4.77734
.05
4.70963
.55
4.77872
.06
4.71101
.56
4.78010
.07
4.71239
.57
4.78148
.08
4.71378
.58
4.78287
.09
4.71516
.59
4.78425
59.10
4.71654
59.60
4.78563
.11
4.71792
.61
4.78701
.12
4.71930
.62
4.78839
.13
4.72068
.63
4.78978
.14
4.72207
.64
4.79116
.15
4.72345
.65
4.79254
.16
4.72483
.66
4.79392
.17
4.72621
.67
4.79530
.18
4.72759
.68
4.79668
.19
4.72898
.69
4.79807
59.20
4.73036
59.70
4.79945
.21
4.73174
.71
4.80083
.22
4.73312
.72
4.80221
.23
4.73450
.73
4.80359
.24
4 . 73588
.74
4 . 80498
.25
4.73727
.75
4 . 80636
.26
4.73865
.76
4.80774
.27
4.74003
.77
4.80912
.28
4.74141
.78
4.81050
.29
4.74279
.79
4.81188
59.30
4.74418
59.80
4.81327
.31
4.74556
.81
4.81465
.32
4 . 74694
.82
4.81603
.33
4.74832
.83
4.81741
.34
4.74970
.84
4.81879
.35
4.75108
.85
4.82018
.36
4.75247
.86
4.82156
.37
4.75385
.87
4.82294
.38
4.75523
.88
4.82432
.39
4.75661
.89
4.82570
59.40
4 . 75799
59.90
4.82708
.41
4.75938
.91
4.82847
.42
4.76076
.92
4.82985
.43
4.76214
.93
4.83123
.44
4.76352
.94
4.83261
.45
4.76490
.95
4.83399
.46
4.76628
.96
4 . 83538
.47
4.76767
.97
4.83676
.48
4.76905
.98
4.83814
.49
4.77043
.99
4 . 83952
—123—
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
60.00
$4 . 84090
60.50
$4 . 88499
.01
4.84178
.51
4.88588
.02
4 . 84267
.52
4 . 88676
.03
4 . 84355
.53
4.88764
.04
4 . 84443
.54
4.88852
.05
4.84531
. 55
4 . 88940
.06
4.84619
.56
4 . 89028
.07
4.84708
.57
4.89117
.08
4.84796
.58
4 . 89205
.09
4 . 84884
.59
4 . 89293
60.10
4.84972
60.60
4.89381
.11
4 . 85060
.61
4 . 89469
.12
4.85148
.62
4.89558
.13
4.85237
.63
4.89646
.14
4 . 85325
.64
4.89734
.15
4.85413
.65
4.89822
.16
4.85501
.66
4.89910
.17
4 . 85589
.67
4.89998
.18
4.85678
.68
4 . 90087
.19
4 . 85766
.69
4.90175
60.20
4 . 85854
60.70
4.90263
.21
4 . 85942
.71
4.90351
.22
4 . 86030
.72
4.90439
.23
4.86118
.73
4.90528
.24
4 . 86207
.74
4.90616
.25
4.86295
.75
4.90704
.26
4 . 86383
.76
4.90792
.27
4.86471
.77
4 . 90880
.28
4.86559
.78
4 . 90968
.29
4 . 86648
.79
4.91057
60.30
4.86736
60.80
4.91145
.31
4.86824
.81
4.91233
.32
4.86912
.82
4.91321
.33
4.87000
.83
4.91409
.34
4.87088
.84
4.91498
.35
4.87177
.85
4.91586
.36
4.87265
.86
4.91674
.37
4.87353
.87
4.91762
.38
4.87441
.88
4.91850
.39
4.87529
.89
4.91938
60.40
4.87618
60.90
4 . 92027
.41
4 . 87706
.91
4.92115
.42
4.87794
.92
4 . 92203
.43
4 . 87882
.93
4.92291
.44
4 . 87970
.94
4 . 92379
.45
4 . 88058
.95
4 . 92468
.46
4.88147
.96
4 . 92556
.47
4.88235
.97
4.92644
.48
4.88323
.98
4.92732
.49
4.88411
.99
4.92820
MESABA BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
01.00
$4. 92908
61.50
$4.97318
.01
4.92997
.51
4.97406
.02
4.93085
.52
4.97494
.03
4.93173
.53
4.97582
.04
4.93261
.54
4.97670
.05
4 . 93349
.55
4.97758
.06
4.93438
.56
4.97847
.07
4.93526
.57
4.97935
.08
4.93614
.58
4.98023
.09
4.93702
.59 ,
4.98111
61.10
4.93790
61 . 60
4.98199
.11
4.93878
.61
4 . 98288
.12
4.93967
.62
4.98376
.13
4 . 94055
.63
4.98464
.14
4.94143
.64
4.98552
.15
4.94231
.65
4 . 98640
.16
4.94319
.66
4.98728
.17
4 . 94408
.67
4.98817
.18
4.94496
.68
4.98905
.19
4.94584
.69
4.98993
61.20
4.94672
61.70
4.99081
.21
4.94760
.71
4.99169
.22
4.94848
.72
4.99258
.23
4.94937
.73
4.99346
.24
4.95025
.74
4.99434
.25
4.95113
.75
4 . 99522
.26
4.95201
.76
4.99610
.27
4.95289
.77
4.99698
.28
4.95378
.78
4.99787
.29
4 . 95466
.79
4 . 99875
61.30
4.95554
61.80
4.99963
.31
4.95642
.81
5.00051
.32
4.95730
.82
5.00139
.33
4.95818
.83
5.00228
.34
4.95907
.84
5.00316
.35
4.95995
.85
5.00404
.36
4.96083
.86
5 . 00492
.37
4.96171
.87
5.00580
.38
4 . 96259
.88
5 . 00668
.39
4.96348
.89
5.00757
61.40
4.96436
61 . 90
5.00845
.41
4.96524
.91
5.00933
.42
4.96612
.92
5.01021
.43
4.96700
.93
5.01109
.44
4 . 96788
.94
5.01198
.45
4.96877
.95
5.01286
.46
4.96965
.96
5.01374
- .47
4.97053
.97
5.01462
.48
4.97141
.98
5.01550
.49
4.97229
.99
5.01638
—125—
OLD RANGE-VERMILION
NON-BESSEMER
NATURAL IRON ORE
LAKE ERIE PRICES
1911
16 TABLES
45 PER CENT TO 60 PER CENT
INCLUSIVE
COMPILED BY
RUKARD KURD
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
45.00
$2.78155
45.50
$2 . 86504
.01
2.78322
.51
2.86671
.02
2.78489
.52
2.86838
.03
2.78656
.53
2.87005
.04
2.78823
.54
2.87172
.05
2.78990
.55
2.87339
.06
2.79157
.56
2.87506
.07
2.79324
.57
2.87673
.08
2.79491
.58
2 . 87840
.09
2.79658
.59
2.88007
45.10
2.79825
-45.60
2.88174
.11
2.79992
.61
2.88341
.12
2.80159
.62
2.88508
.13
2 . 80326
.63
2.88675
.14
2 . 80493
.64
2.88842
.15
2.80660
.65
2 . 89009
.16
2.80827
.66
2.89176
.17
2.80993
.67
2.89343
.18
2.81160
.68
2.89510
.19
2.81327
.69
2.89677
45.20
2.81494
45.70
2.89844
.21
2.81661
.71
2.90011
.22
2.81828
.72
2.90178
.23
2.81995
.73
2.90345
.24
2.82162
.74
2.90512
.25
2.82329
.75
2.90679
.26
2 . 82496
.76
2.90846
.27
2.82663
.77
2.91013
.28
2.82830
.78
2.91180
.29
2.82997
.79
2.91347
45.30
2.83164
45.80
2.91514
.31
2.83331
.81
2.91681
.32
2 . 83498
.82
2.91848
.33
2.83665
.83
2.92015
.34
2 . 83832
.84
2.92182
.35
2.83999
.85
2.92349
.36
2.84166
.86
2.92516
.37
2 . 84333
.87
2.92683
.38
2.84500
.88
2.92850
.39
2.84667
.89
2.93017
45.40
2.84834
45.90
2.93184
.41
2.85001
.91
2.93351
.42
2.85168
.92
2.93518
.43
2 . 85335
.93
2 . 93685
.44
2 . 85502
.94
2.93852
.45
2 . 85669
.95
2.94019
.46
2 . 85836
.96
2.94186
.47
2.86003
.97
2.94353
.48
2.86170
.98
2.94520
.49
2.86337
.99
2.94687
—129—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
46.00
$2.94854
46.50
$3.03203
.01
2.95021
.51
3.03370
.02
2.95188
.52
3.03537
.03
2.95355
.53
3.03704
.04
2.95522
.54
3.03871
.05
2.95689
.55
3.04038
.06
2.95856
.56
3.04205
.07
2.96023
.57
3.04372
.08
2.96190
.58
3.04539
.09
2.96357
.59
3.04706
46.10
2.96524
46.60
3.04873
.11
2.96691
.61
3.05040
.12
2.96858
.62
3.05207
.13
2.97025
.63
3.05374
.14
2.97192
.64
3.05541
.15
2.97359
.65
3.05708
.16
2.97526
.66
3.05875
.17
2.97693
.67
3.06042
.18
2.97860
.68
3.06209
.19
2.98026
.69
3.06376
46.20
2.98193
46.70
3.06543
.21
2.98360
.71
3.06710
.22
2.98527
.72
3.06877
.23
2.98694
.73
3.07044
.24
2.98861
.74
3.07211
.25
2.99028
.75
3.07378
.26
2.99195
.76
3.07545
.27
2.99362
.77
3.07712
.28
2.99529
.78
3.07879
.29
2.99696
.79
3.08046
46.30
2.99863
46.80
3.08213
.31
3 . 00030
.81
3.08380
.32
3.00197
.82
3.08547
.33
3.00364
.83
3.08714
.34
3.00531
.84
3.08881
.35
3.00698
.85
3.09048
.36
3.00865
.86
3.09215
.37
3.01032
.87
3.09382
.38
3.01199
.88
3.09549
.39
3.01366
.89
3.09716
46.40
3.01533
46.90
3.09883
.41
3.01700
.91
3.10050
.42
3.01867
.92
3.10217
.43
3.02034
.93
3.10384
.44
3.02201
.94
3.10551
.45
3.02368
.95
3.10718
.46
3.02535
.96
3.10885
.47
3.02702
.97
3.11052
.48
3.02869
.98
3.11219
.49
3.03036
.99
3.11386
—130—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
47.00
$3.11553
47.50
S3. 19902
.01
3.11720
.51
3 . 20069
.02
3.11887
.52
3.20236
.03
3.12054
.53
3 . 20403
.04
3.12221
.54
3.20570
.05
3.12388
.55
3.20737
.06
3.12555
.56
3.20904
.07
3.12722
.57
3.21071
.08
3 . 12889
.58
3.21238
.09
3.13056
. .59
3.21405
47.10
3.13223
47.60
3.21572
.11
3.13390
.61
3.21739
.12
3.13557
.62
3.21906
.13
3.13724
.63
3.22073
.14
3.13891
.64
3.22240
.15
3.14058
.65
3.22407
.16
3.14225
.66
3.22574
.17
3.14392
.67
3.22741
.18
3.14559
.68
3.22908
.19
3.14726
.69
3.23075
47.20
3.14893
47.70
3 . 23242
.21
3.15059
.71
3.23409
.22
3.15226
.72
3.23576
.23
3.15393
.73
3.23743
.24
3.15560
.74
3.23910
.25
3.15727
.75
3.24077
.26
3.15894
.76
3.24244
.27
3.16061
.77
3.24411
.28
3.16228
.78
3.24578
.29
3.16395
.79
3.24745
47.30
3.16562
47.80
3.24912
.31
3.16729
.81
3.25079
.32
3.16896
.82
3.25246
.33
3.17063
.83
3.25413
.34
3.17230
.84
3.25580
.35
3.17397
.85
3.25747
.36
3.17564
.86
3.25914
.37
3.17731
.87
3.26081
.38
3.17898
.88
3.26248
.39
3.18065
.89
3.26415
47.40
3.18232
47.90
3.26582
.41
3.18399
.91
3.26749
.42
3.18566
.92
3.26916
.43
3.18733
.93
3 . 27083
.44
3.18900
.94
3.27250
.45
3.19067
.95
3.27417
.46
3.19234
.96
3.27584
.47
3.19401
.97
3.27751
.48
3.19568
.98
3.27918
.49
3.19735
.99
3.28085
—131—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
48.00
S3 . 28252
48.50
$3.36601
.01
3.28419
.51
3.36768
.02
3 . 28586
.52
3.36935
.03
3.28753
.53
3.37102
.04
3.28920
.54
3.37269
.05
3 . 29087
.55
3.37436
.06
3.29254
.56
3.37603
.07
3.29421
.57
3.37770
.08
3.29588
.58
3.37937
.09
3.29755
.59
3.38104
48.10
3.29922
48.60
3.38271
.11
3 . 30089
.61
3 . 38438
.12
3.30256
.62
3.38605
.13
3 . 30423
.63
3.38772
.14
3 . 30590
.64
3 . 38939
.15
3.30757
.65
3.39106
.16
3.30924
.66
3.39273
.17
3.31091
.67
3 . 39440
.18
3.31258
.68
3.39607
.19
3.31425
.69
3.39774
48.20
3.31592
48.70
3.39941
.21
3.31759
.71
3.40108
.22
3.31926
.72
3.40275
.23
3.32092
.73
3.40442
.24
3.32259
.74
3.40609
.25
3.32426
.75
3.40776
.26
3 . 32593
.76
3.40943
.27
3.32760
.77
3.41110
.28
3 . 32927
.78
3.41277
.29
3 . 33094
.79
3.41444
48.30
3.33261
48.80
3.41611
.31
3 . 33428
.81
3.41778
.32
3.33595
.82
3.41945
.33
3 . 33762
.83
3.42112
.34
3 . 33929
.84
3.42279
.35
3.34096
.85
3.42446
.36
3 . 34263
.86
3.42613
.37
3 . 34430
.87
3.42780
.38
3.34597
.88
3.42947
.39
3 . 34764
.89
3.43114
48 . 40
3.34931
48.90
3.43281
.41
3 . 35098
.91
3.43448
.42
3.35265
.92
3.43615
.43
3 . 35432
.93
3.43782
.44
3 . 35599
.94
3.43949
.45
3.35766
.95
3.44116
.46
3.35933
.96
3.44283
.47
3.36100
.97
3 . 44450
.48
3.36267
.98
3.44617
.49
3.36434
.99
3 . 44784
— IS 2—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
49.00
$3 . 44951
49.50
$3.51213
.01
3.45076
.51
3.51338
.02
3.45201
.52
3.51463
.03
3.45326
.53
3.51589
.04
3.45452
.54
3.51714
.05
3 . 45577
.55
3.51839
.06
3.45702
.56
3.51964
.07
3.45827
.57
3.52090
.08
3.45953
.58
3.52215
.09
3.46078
-.59
3 . 52340
49.10
3 . 46203
49.60
3.52465
.11
3.46328
.61
3.52591
.12
3.46454
.62
3.52716
.13
3.46579
.63
3.52841
.14
3 . 46704
.64
3 . 52966
.15
3.46829
.65
3.53092
.16
3.46955
.66
3.53217
.17
3.47080
.67
3.53342
.18
3.47205
.68
3.53467
.19
3.47330
.69
3.53592
49.20
3.47456
49.70
3.53718
.21
3.47581
.71
3 . 53843
.22
3.47706
.72
3 . 53968
.23
3.47831
.73
3 . 54093
.24
3.47957
.74
3.54219
.25
3.48082
.75
3 . 54344
.26
3.48207
.76
3.54469
.27
3 . 48332
.77
3.54594
.28
3.48458
.78
3.54720
.29
3.48583
.79
3.54845
49.30
3.48708
49.80
3 . 54970
.31
3.48833
.81
3 . 55095
.32
3 . 48959
.82
3.55221
.33
3.49084
.83
3 . 55346
.34
3.49209
.84
3.55471
.35
3.49334
.85
3 . 55596
.36
3.49459
.86
3 . 55722
.37
3.49585
.87
3.55847
.38
3.49710
.88
3.55972
.39
3.49835
.89
3.56097
49.40
3 . 49960
49.90
3.56223
.41
3.50086
.91
3.56348
.42
3.50211
.92
3.56473
.43
3.50336
.93
3 . 56598
.44
3.50461
.94
3 . 56724
.45
3 . 50587
.95
3 . 56849
.46
3.50712
.96
3.56974
.47
3 . 50837
.97
3 . 57099
.48
3 . 50962
.98
3 . 57225
.49
3.51088
.99
3.57350
—133-
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
50.00
$3.57475
50.50
S3. 61650
.01
3.57558
.51
3.61733
.02
3 . 57642
.52
3.61817
.03
3.57725
.53
3.61900
.04
3 . 57809
.54
3.61984
.05
3.57892
.55
3 . 62067
.06
3.57976
.56
3.62151
.07
3 . 58059
.57
3 . 62234
.08
3.58143
.58
3.62318
.09
3.58226
.59
3.62401
50.10
3.58310
50.60
3.62485
.11
3 . 58393
.61
3 . 62568
.12
3.58477
.62
3.62652
.13
3.58560
.63
3.62735
.14
3 . 58644
.64
3.62819
.15
3.58727
.65
3 . 62902
.16
3.58811
.66
3.62986
.17
3.58894
.67
3 . 63069
.18
3.58978
.68
3.63153
.19
3.59061
.69
3.63236
50.20
3.59145
50.70
3.63320
.21
3 . 59228
.71
3 . 63403
.22
3.59312
.72
3 . 63487
.23
3.59395
.73
3.63570
.24
3.59479
.74
3.63654
.25
3.59562
.75
3.63737
.26
3.59646
.76
3.63821
.27
3.59729
.77
3.63904
.28
3.59813
.78
3 . 63988
.29
3 . 59896
.79
3.64071
50.30
3 . 59980
50.80
3.64155
.31
3 . 60063
.81
3.64238
.32
3.60147
.82
3.64322
.33
3 . 60230
.83
3.64405
.34
3.60314
.84
3 . 64489
.35
3 . 60397
.85
3.64572
.36
3.60481
.86
3.64656
.37
3.60564
.87
3.64739
.38
3 . 60648
.88
3 . 64823
.39
3.60731
.89
3 . 64906
50.40
3.60815
50.90
3 . 64990
.41
3 . 60898
.91
3.65073
.42
3 . 60982
.92
3.65157
.43
3.61065
.93
3.65240
.44
3.61149
.94
3.65324
.45
3.61232
.95
3.65407
.46
3.61316
.96
3.65491
.47
3.61399
.97
3.65574
.48
3.61483
.98
3.65658
.49
3.61566
.99
3.65741
—134—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
51.00
$3.65825
51.50
S3. 69999
.01
3.65908
.51
3 . 70083
.02
3.65992
.52
3.70166
.03
3.66075
.53
3.70250
.04
3.66158
.54
3.70333
.05
3.66242
.55
3.70417
.06
3.66325
.56
3.70500
.07
3 . 66409
.57
3.70584
.08
3.66492
.58
3.70667
.09
3.66576
.-59
3.70751
51.10
3.66659
51.60
3.70834
.11
3.66743
.61
3.70918
.12
3.66826
.62
3.71001
.13
3.66910
.63
3.71085
.14
3.66993
.64
3.71168
.15
3.67077
.65
3.71252
.16
3.67160
.66
3.71335
.17
3.67244
.67
3.71419
.18
3.67327
.68
3.71502
.19
3.67411
.69
3.71586
51.20
3.67494
51.70
3.71669
.21
3.67578
.71
3.71753
.22
3.67661
.72
3.71836
.23
3.67745
.73
3.71920
.24
3.67828
.74
3.72003
.25
3.67912
.75
3.72087
.26
3.67995
.76
3.72170
.27
3 . 68079
.77
3.72254
.28
3.68162
.78
3.72337
.29
3.68246
.79
3.72421
51.30
3.68329
51.80
3.72504
.31
3.68413
.81
3.72588
.32
3.68496
.82
3.72671
.33
3.68580
.83
3.72755
.34
3.68663
.84
3.72838
.35
3.68747
.85
3.72922
.36
3.68830
.86
3 . 73005
.37
3.68914
.87
3.73089
.38
3.68997
.88
3.73172
.39
3.69081
.89
3.73256
51.40
3.69164
51.90
3.73339
.41
3.69248
.91
3.73423
.42
3.69331
.92
3.73506
.43
3.69415
.93
3.73590
.44
3 . 69498
.94
3.73673
.45
3.69582
.95
3.73757
.46
3 . 69665
.96
3.73840
.47
3.69749
.97
3.73924
.48
3.69832
.98
3.74007
.49
3.69916
.99
3.74091
—135—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
52.00
$3.74174
52.50
$3 . 78349
.01
3.74258
.51
3 . 78432
.02
3.74341
.52
3.78516
.03
3.74425
.53
3.78599
.04
3.74508
.54
3 . 78683
.05
3.74591
.55
3.78766
.06
3.74675
.56
3.78850
.07
3.74758
.57
3.78933
.08
3.74842
.58
3.79017
.09
3.74925
.59
3.79100
52.10
3 . 75009
52.60
3.79184
.11
3 . 75092
.61
3.79267
.12
3.75176
.62
3.79351
.13
3.75259
.63
3.79434
.14
3.75343
.64
3.79518
.15
3.75426
.65
3.79601
.16
3.75510
.66
3 . 79685
.17
3.75593
.67
3.79768
.18
3.75677
.68
3 . 79852
.19
3.75760
.69
3.79935
52.20
3 . 75844
52.70
3.80019
.21
3.75927
.71
3.80102
.22
3.76011
.72
3.80186
.23
3.76094
.73
3.80269
.24
3.76178
.74
3 . 80353
.25
3.76261
.75
3 . 80436
.26
3 . 76345
.76
3 . 80520
.27
3.76428
.77
3 . 80603
.28
3.76512
.78
3 . 80687
.29
3.76595
.79
3.80770
52.30
3.76679
52.80
3 . 80854
.31
3.76762
.81
3 . 80937
.32
3 . 76846
.82
3.81021
.33
3.76929
.83
3.81104
.34
3.77013
.84
3.81188
.35
3 . 77096
.85
3.81271
.36
3.77180
.86
3.81355
.37
3.77263
.87
3.81438
.38
3 . 77347
.88
3.81522
.39
3.77430
.89
3.81605
52.40
3.77514
52.90
3.81689
.41
3.77597
.91
3.81772
.42
3.77681
.92
3.81856
.43
3.77764
.93
3.81939
.44
3.77848
.94
3.82023
.45
3.77931
.95
3.82106
.46
3.78015
.96
3.82190
.47
3.78098
.97
3.82273
.48
3.78182
.98
3.82357
.49
3.78265
.99
3.82440
—136—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
53.00
$3.82524
53.50
$3.87198
.01
3.82617
.51
3 . 87292
.02
3.82711
.52
3.87385
.03
3 . 82804
.53
3.87479
.04
3 . 82898
.54
3.87572
.05
3.82991
.55
3.87666
.06
3.83085
.56
3.87759
.07
3.83178
.57
3.87853
.08
3.83271
,58
3.87946
.09
3.83365
.59
3.88040
53.10
3.83458
53.60
3.88133
.11
3.83552
.61
3 . 88227
.12
3 . 83645
.62
3 . 88320
.13
3.83739
.63
3.88414
.14
3.83832
.64
3 . 88507
.15
3 . 83926
.65
3.88601
.16
3.84019
.66
3.88694
.17
3.84113
.67
3.88788
.18
3.84206
.68
3.88881
.19
3.84300
.69
3.88975
53.20
3.84393
53.70
3.89068
.21
3.84487
.71
3.89162
.22
3 . 84580
.72
3.89255
.23
3.84674
.73
3.89349
.24
3.84767
.74
3 . 89442
.25
3.84861
.75
3.89536
.26
3.84954
.76
3.89629
.27
3 . 85048
. 77
3 . 89723
.28
3.85141
.78
3.89816
.29
3 . 85235
.79
3.89910
53.30
3.85328
53.80
3.90003
.31
3.85422
.81
3.90097
.32
3.85515
.82
3.90190
.33
3.85609
.83
3.90284
.34
3.85702
.84
3.90377
.35
3.85796
.85
3.90471
.36
3.85889
.86
3.90564
.37
3.85983
.87
3 . 90658
.38
3.86076
.88
3.90751
.39
3.86170
.89
3 . 90845
53.40
3 . 86263
53.90
3.90938
.41
3.86357
.91
3.91032
.42
3 . 86450
.92
3.91125
.43
3 . 86544
.93
3.91219
.44
3.86637
.94
3.91312
.45
3.86731
.95
3.91406
.46
3.86824
.96
3.91499
.47
3.86918
.97
3.91593
.48
3.87011
.98
3.91686
.49
3.87105
.99
3.91780
— 137 —
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
54.00
$3.91873
54.50
$3.97048
.01
3.91977
.51
3.97151
.02
3.92080
.52
3.97255
.03
3.92184
.53
3.97358
.04
3.92287
.54
3.97462
.05
3.92391
.55
3.97565
.06
3 . 92494
.56
3.97669
.07
3.92598
.57
3.97772
.08
3.92701
.58
3.97876
.09
3 . 92804
.59
3.97979
54.10
3.92908
54.60
3.98083
.11
3.93011
.61
3.98186
.12
3.93115
.62
3.98290
.13
3.93218
.63
3.98393
.14
3.93322
.64
3.98497
.15
3.93425
.65
3 . 98600
.16
3.93529
.66
3.98704
.17
3.93632
.67
3.98807
.18
3.93736
.68
3.98911
.19
3.93839
.69
3.99014
54.20
3.93943
54.70
3.99118
.21
3 . 94046
.71
3.99221
.22
3.94150
.72
3.99325
.23
3.94253
.73
3.99428
.24
3.94357
.74
3.99532
.25
3.94460
.75
3.99635
.26
3.94564
.76
3 . 99739
.27
3.94667
.77
3.99842
.28
3.94771
.78
3.99946
.29
3.94874
.79
4 . 00049
54.30
3.94978
54.80
4.00153
.31
3.95081
.81
4.00256
.32
3.95185
.82
4.00360
.33
3.95288
.83
4.00463
.34
3.95392
.84
4.00567
.35
3.95495
.85
4.00670
.36
3.95599
.86
4.00774
.37
3 . 95702
.87
4.00877
.38
3.95806
.88
4.00981
.39
3.95909
.89
4.01084
54.40
3.96013
54.90
4.01188
.41
3.96116
.91
4.01291
.42
3.96220
.92
4.01395
.43
3.96323
.93
4.01498
.44
3.96427
.94
4.01602
.45
3.96530
.95
4.01705
.46
3.96634
.96
4.01809
.47
3.96737
.97
4.01912
.48
3.96841
.98
4.02016
.49
3.96944
.99
4.02119
—138—
UNIVERSITY
OF
OLD RANGE-VER]
ON NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
55.00
$4.02223
55.50
$4.07897
.01
4.02336
.51
4.08011
.02
4 . 02450
.52
4.08124
.03
4.02563
.53
4.08238
.04
4.02677
.54
4.08351
.05
4.02790
.55
4.08465
.06
4.02904
.56
4.08578
.07
4.03017
.57
4.08692
.08
4.03131
,58
4.08805
.09
4.03244
.59
4.08919
55.10
4.03358
55.60
4.09032
.11
4.03471
.61
4.09146
.12
4.03584
.62
4.09259
.13
4.03698
.63
4.09373
.14
4.03811
.64
4.09486
.15
4.03925
.65
4.09600
.16
4.04038
.66
4.09713
.17
4.04152
.67
4.09827
.18
4.04265
.68
4.09940
.19
4.04379
.69
4.10054
55.20
4.04492
55.70
4.10167
.21
4.04606
.71
4.10281
.22
4.04719
.72
4.10394
.23
4.04833
.73
4.10508
.24
4.04946
.74
4.10621
.25
4.05060
.75
4.10735
.26
4.05173
.76
4.10848
.27
4.05287
.77
4.10962
.28
4.05400
.78
4.11075
.29
4.05514
.79
4.11189
55.30
4.05627
55.80
4.11302
.31
4.05741
.81
4.11416
.32
4.05854
.82
4.11529
.33
4.05968
.83
4.11643
.34
4.06081
.84
4.11756
.35
4.06195
.85
4.11870
.36
4.06308
.86
4.11983
.37
4.06422
.87
4.12097
.38
4.06535
.88
4.12210
.39
4.06649
.89
4.12324
55.40
4.06762
55.90
4.12437
.41
4.06876
.91
4.12551
.42
4.06989
.92
4.12664
.43
4.07103
.93
4.12778
.44
4.07216
.94
4.12891
.45
4.07330
.95
4.13005
.46
4.07443
.96
4.13118
.47
4.07557
.97
4.13232
.48
4.07670
.98
4.13345
.49
4.07784
.99
4.13459
—139—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
56.00
$4.13572
56.50
$4.19747
.01
4.13696
.51
4.19870
.02
4.13819
.52
4.19994
.03
4.13943
.53
4.20117
.04
4.14066
.54
4.20241
.05
4.14190
.55
4 . 20364
.06
4.14313
.56
4 . 20488
.07
4.14437
.57
4.20611
.08
4.14560
.58
4.20735
.09
4.14684
.59
4 . 20858
56.10
4.14807
56 . 60
4 . 20982
.11
4.14931
.61
4.21105
.12
4.15054
.62
4.21229
.13
4.15177
.63
4.21352
.14
4.15301
.64
4.21476
.15
4.15424
.65
4.21599
.16
4.15548
.66
4.21723
.17
4.15671
.07
4.21846
.18
4.15795
.68
4.21970
.19
4.15918
.69
4 . 22093
56.20
4.16042
56.70
4.22217
.21
4.16165
.71
4 . 22340
.22
4.16289
.72
4 . 22464
.23
4.16412
.73
4.22587
.24
4.16536
.74
4.22711
.25
4.16659
.75
4.22834
.26
4.16783
.76
4.22958
.27
4.16906
.77
4.23081
.28
4.17030
.78
4.23205
.29
4.17153
.79
4 . 23328
56.30
4.17277
56.80
4.23452
.31
4.17400
.81
4.23575
.32
4.17524
.82
4.23699
.33
4.17647
.83
4.23822
.34
4.17771
.84
4.23946
.35
4.17894
.85
4 . 24069
.36
4.1S018
.86
4.24193
.37
4.18141
.87
4.24316
.38
4.18265
.88
4.24440
.39
4.18388
.89
4.24563
56.40
4.18512
56.90
4.24687
.41
4.18635
.91
4.24810
.42
4.18759
.92
4.24934
.43
4.18882
.93
4 . 25057
.44
4.19006
.94
4.25181
.45
4.19129
.95
4.25304
.46
4.19253
.96
4.25428
.47
4.19376
.97
4.25551
.48
4.19500
.98
4.25675
.49
4.19623
.99
4.25798
—140—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Lake Erie Price
Per Cent
Lake Erie Price
Natural Iron
Natural Iron
57.00
$4.25922
57.50
$4.32596
.01
4.26055
.51
4.32730
.02
4.26189
.52
4.32863
.03
4.26322
.53
4.32997
.04
4 . 26456
.54
4.33130
.05
4.26589
.55
4.33264
.06
4.26723
.56
4.33397
.07
4.26856
.57
4.33531
.08
4.26990
. .58
4.33664
.09
4.27123
.59
4.33798
57.10
4.27257
57.60
4.33931
.11
4.27390
.61
4 . 34065
.12
4 . 27524
.62
4.34198
.13
4.27657
.63
4.34332
.14
4.27791
.64
4.34465
.15
4.27924
.65
4.34599
.16
4.28057
.66
4.34732
.17
4.28191
.67
4.34866
.18
4.28324
.68
4.34999
.19
4 . 28458
.69
4.35133
57.20
4.28591
57 . 70
4 . 35266
.21
4.28725
.71
4.35400
.22
4.28858
.72
4.35533
.23
4.28992
.73
4.35667
.24
4.29125
.74
4 . 35800
.25
4.29259
.75
4 . 35934
.26
4.29392
.76
4.36067
.27
4.29526
.77
4.36201
.28
4.29659
.78
4.36334
.29
4.29793
.79
4.36468
57.30
4.29926
57.80
4.36601
.31
4 . 30060
.81
4.36735
.32
4.30193
.82
4 . 36868
.33
4.30327
.83
4 . 37002
.34
4.30460
.84
4.37135
.35
4.30594
.85
4.37269
.36
4.30727
.86
4.37402
.37
4.30861
.87
4.37536
.38
4.30994
.88
4.37669
.39
4.31128
.89
4.37803
57.40
4.31261
57.90
4.37936
.41
4.31395
.91
4.38070
.42
4.31528
.92
4.38203
.43
4.31662
.93
4.38337
.44
4.31795
.94
4.38470
.45
4.31929
.95
4.38604
.46
4.32062
.96
4.38737
.47
4.32196
.97
4.38871
.48
4.32329
.98
4.39004
.49
4.32463
.99
4.39138
—141—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
58.00
$4.39271
58.50
$4 . 43446
.01
4.39355
.51
4.43529
.02
4.39438
.52
4.43613
.03
4.39522
.53
4.43696
.04
4.39605
.54
4 . 43780
.05
4.39689
.55
4.43863
.06
4.39772
.56
4.43947
.07
4.39856
.57
4.44030
.08
4.39939
.57
4.44114
.09
4.40023
.59
4.44197
58.10
4.40106
58.60
4.44281
.11
4.40190
.61
4.44364
.12
4.40273
.62
4.44448
.13
4.40357
.63
4.44531
.14
4 . 40440
.64
4.44615
.15
4.40524
.65
4.44698
.16
4.40607
.66
4.44782
.17
4.40690
.67
4.44865
.18
4.40774
.68
4.44949
.19
4.40857
.69
4.45032
58.20
4.40941
58.70
4.45116
.21
4.41024
.71
4.45199
.22
4.41108
.72
4 . 45283
.23
4.41191
.73
4.45366
.24
4.41275
.74
4.45450
.25
4.41358
.75
4.45533
.26
4.41442
.76
4.45617
.27
4.41525
.77
4.45700
.28
4.41609
.78
4.45784
.29
4.41692
.79
4.45867
58.30
4.41776
58.80
4.45951
.31
4.41859
.81
4.46034
.32
4.41943
.82
4.46118
.33
4.42026
.83
4.46201
.34
4.42110
.84
4.46285
.35
4.42193
.85
4.46368
.36
4.42277
.86
4.46452
.37
4.42360
.87
4.46535
.38
4 . 42444
.88
4.46619
.39
4.42527
.89
4.46702
58.40
4.42611
58.90
4.46786
.41
4.42694
.91
4.46869
.42
4.42778
.92
4.46953
.43
4.42861
.93
4.47036
.44
4.42945
.94
4.47120
.45
4.43028
.95
4.47203
.46
4.43112
.96
4.47287
.47
4.43195
.97
4.47370
.48
4.43279
.98
4.47454
.49
4.43362
.99
4.47537
—142—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
59.00
$4.47621
59.50
$4.51795
.01
4.47704
.51
4.51879
.02
4.47788
.52
4.51962
.03
4.47871
.53
4.52046
.04
4.47955
.54
4.52129
.05
4.48038
.55
4.52213
.06
4.48122
.56
4.52296
.07
4.48205
.57
4.52380
.08
4 . 48289
.58
4.52463
.09
4.48372
.59
4.52547
59.10
4.48456
59.60
4.52630
.11
4.48539
.61
4.52714
.12
4.48623
.62
4.52797
.13
4.48706
.63
4.52881
.14
4.48790
.64
4.52964
.15
4.48873
.65
4.53048
.16
4.48957
.66
4.53131
.17
4.49040
.67
4.53215
.18
4.49124
.68
4.53298
.19
4.49207
.69
4.53382
59.20
4.49290
59.70
4.53465
.21
4.49374
.71
4.53549
.22
4.49457
.72
4.53632
.23
4.49541
.73
4.53716
.24
4.49624
.74
4.53799
.25
4.49708
.75
4.53883
.26
4.49791
.76
4 . 53966
.27
4.49875
.77
4.54050
.28
4.49958
.78
4.54133
.29
4 . 50042
.79
4.54217
59.30
4.50125
59.80
4.54300
.31
4.50209
.81
4.54384
.32
4.50292
.82
4.54467
.33
4.50376
.83
4.54551
.34
4.50459
.84
4 . 54634
.35
4.50543
.85
4.54718
.36
4.50626
.86
4.54801
.37
4.50710
.87
4.54885
.38
4.50793
.88
4.54968
.39
4.50877
.89
4.55052
59.40
4.50960
59.90
4.55135
.41
4.51044
.91
4.55219
.42
4.51127
.92
4 . 55302
.43
4.51211
.93
4.55386
.44
4.51294
.94
4 . 55469
.45
4.51378
.95
4 . 55553
.46
4.51461
.96
4.55636
.47
4.51545
.97
4.55720
.48
4.51628
.98
4 . 55803
.49
4.51712
.99
4 . 55887
—143—
OLD RANGE-VERMILION NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
60.00
$4.55970
60.50
$4.60145
.01
4.56054
.51
4 . 60228
.02
4.56137
.52
4.60312
.03
4.56221
.53
4 . 60395
.04
4.56304
.54
4 . 60479
.05
4.56388
.55
4 . 60562
.06
4.56471
.56
4 . 60646
.07
4.56555
.57
4.60729
.08
4.56638
.58
4.60813
.09
4.56722
.59
4.60896
60.10
4.56805
60.60
4 . 60980
.11
4 . 56889
.61
4.61063
.12
4.56972
.62
4.61147
.13
4.57056
.63
4.61230
.14
4.57139
.64
4.61314
.15
4.57223
.65
4.61397
.16
4.57306
.66
4.61481
.17
4.57390
.67
4.61564
.18
4.57473
.68
4.61648
.19
4.57557
.69
4.61731
60.20
4.57640
60.70
4.61815
.21
4.57723
.71
4.61898
.22
4 . 57807
.72
4.61982
.23
4.57890
.73
4.62065
.24
4.57974
.74
4.62149
.25
4.58057
.75
4 . 62232
.26
4.58141
.76
4.62316
.27
4.58224
.77
4 . 62399
.28
4 . 58308
.78
4.62483
.29
4.58391
.79
4.62566
60.30
4.58475
60.80
4.62650
.31
4.58558
.81
4.62733
.32
4.58642
.82
4.62817
.33
4.58725
.83
4 . 62900
.34
4.58809
.84
4.62984
.35
4.58892
.85
4.63067
.36
4.58976
.86
4.63151
.37
4 . 59059
.87
4.63234
.38
4.59143
.88
4.63318
.39
4.59226
.89
4.63401
60.40
4.59310
60.90
4 . 63485
.41
4.59393
.91
4 . 63568
.42
4.59477
.92
4 . 63652
.43
4 . 59560
.93
4.63735
.44
4 . 59644
.94
4.63819
.45
4.59727
.95
4.63902
.46
4.59811
.96
4 . 63986
.47
4.59894
.97
4 . 64069
.48
4.59978
.98
4.64153
.49
4.60061
.99
4.64236
—144—
MESABA NON-BESSEMER
NATURAL IRON ORE
LAKE ERIE PRICES
1911
16 TABLES
45 PER CENT TO 60 PER CENT
INCLUSIVE
COMPILED BY
RUKARD HURD
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
45.00
$2 . 62426
45.50
$2.70388
.01
2.62586
.51
2.70547
.02
2.62745
.52
2 . 70706
.03
2.62904
.53
2.70865
.04
2.63063
.54
2.71025
.05
2.63223
.55
2.71184
.06
2.63382
.56
2.71343
.07
2.63541
.57
2.71502
.08
2.36700
.58
2.71661
.09
2.36859
.59
2.71821
45.10
2.64019
45.60
2.71980
.11
2.64178
.61
2.72139
.12
2.64337
.62
2.72298
.13
2.64496
.63
2.72458
.14
2 . 64656
.64
2.72617
.15
2.64815
.65
2.72776
.16
2.64974
.66
2.72935
.17
2.65133
.67
2.73094
.18
2 . 65292
.68
2.73254
.19
2.65452
.69
2.73413
45.20
2.65611
45.70
2.73572
.21
2.65770
.71
2.73731
.22
2.65929
.72
2.73891
.23
2.66089
.73
2.74050
.24
2.66248
.74
2.74209
.25
2.66407
.75
2.74368
.26
2.66566
.76
2.74527
.27
2.66726
.77
2.74687
.28
2.66885
.78
2.74846
.29
2.67044
.79
2 . 75005
45.30
2 . 67203
45.80
2.75164
.31
2 . 67362
.81
2 . 75324
.32
2.67522
.82
2.75483
.33
2.67681
.83
2.75642
.34
2.67840
.84
2.75801
.35
2.67999
.85
2.75960
.36
2.68159
.86
2.76120
.37
2.68318
.87
2.76279
.38
2.68477
.88
2.76438
.39
2.68636
.89
2.76597
45.40
2.68795
45.90
2.76757
.41
2.68955
.91
2.76916
.42
2.69114
.92
2.77075
.43
2.69273
.93
2.77234
.44
2.69432
.94
2 . 77393
.45
2.69592
.95
2.77553
.46
2.69751
.96
2.77712
.47
2.69910
.97
2.77871
.48
2.70069
.98
2.78030
.49
2.70228
.99
2.78190
-147—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
46.00
$2.78349
46.50
$2. 86310
.01
2.78508
.51
2 . 86469
.02
2.78667
.52
2.86628
.03
2.78826
.53
2.86788
.04
2.78986
.54
2 . 86947
.05
2.79145
.55
2.87106
.06
2 . 79304
.56
2.87265
.07
2.79463
.57
2.87425
.08
2 . 79623
.58
2.87584
.09
2.79782
.59
2.87743
46.10
2.79941
46 . 60
2 . 87902
.11
2.80100
.61
2.88061
.12
2 . 80259
.62
2.88221
.13
2.80419
.63
2.88380
.14
2.80578
.64
2.88539
.15
2.80737
.65
2.88698
.16
2 . 80896
.66
2.88858
.17
2.81056
.67
2.89017
.18
2.81215
.68
2.89176
.19
2.81374
.69
2.89335
46.20
2.81533
46.70
2 . 89494
.21
2.81692
.71
2 . 89654
.22
2.81852
.72
2.89813
.23
2.82011
.73
2.89972
.24
2.82170
.74
2.90131
.25
2.82329
.75
2.90291
.26
2.82489
.76
2.90450
.27
2 . 82648
.77
2 . 90609
.28
2 . 82807
.78
2.90768
.29
2.82966
.79
2.90927
46.30
2.83125
46.80
2.91087
.31
2.83285
.81
2.91246
.32
2 . 83444
.82
2.91405
.33
2 . 83603
.83
2.91564
.34
2.83762
.84
2.91724
.35
2.83922
.85
2.91883
.36
2.84081
.86
2.92042
.37
2.84240
.87
2.92201
.38
2.84399
.88
2 . 92360
.39
2.84559
.89
2.92520
46.40
2.84718
46.90
2.92679
.41
2.84877
.91
2.92838
.42
2.85036
.92
2.92997
.43
2.85195
.93
2.93157
.44
2.85355
.94
2.93316
.45
2.85514
.95
2.93475
.46
2.85673
.96
2.93634
.47
2.85832
.97
2 . 93793
.48
2.85992
.98
2 . 93953
.49
2.86151
.99
2.94112
—148—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
47.00
$2.94271
47.50
$3 . 02232
.01
2.94430
.51
3.02392
.02
2 . 94590
.52
3.02551
.03
2.94749
.53
3.02710
.04
2.94908
.54
3.02869
.05
2.95067
.55
3.03028
.06
2.95226
.56
3.03188
.07
2.95386
.57
3.03347
.08
2.95545
.58
3.03506
.09
2.95704
.59
3.03665
47.10
2 . 95863
47.60
3.03825
.11
2 . 96023
.61
3.03984
.12
2.96182
.62
3.04143
.13
2.96341
.63
3 . 04302
.14
2 . 96500
.64
3.04461
.15
2.96659
.65
3.04621
.16
2.96819
.66
3.04780
.17
2.96978
.67
3.04939
.18
2.97137
.68
3.05098
.19
2.97296
.69
3.05258
47.20
2.97456
47 . 70
3.05417
.21
2.97615
.71
3.05576
.22
2.97774
.72
3.05735
.23
2.97933
.73
3.05894
.24
2.98092
.74
3.06054
.25
2.98252
.75
3.06213
.26
2.98411
.76
3.06372
.27
2.98570
.77
3.06531
.28
2.98729
.78
3.06691
.29
2 . 98889
.79
3.06850
47.30
2.99048
47.80
3.07009
.31
2.99207
.81
3.07168
.32
2 . 99366
.82
3.07327
.33
2.99525
.83
3.07487
.34
2.99685
.84
3.07646
.35
2.99844
.85
3.07805
.36
3.00003
.86
3.07964
.37
3.00162
.87
3.08124
.38
3.00322
.88
3.08283
.39
3.00481
.89
3.08442
47.40
3.00640
47.90
3.08601
.41
3.00799
.91
3. 087 60
.42
3.00958
.92
3.08920
.43
3.01118
.93
3.09079
.44
3.01277
.94
3.09238
.45
3.01436
.95
3.09397
.46
3.01595
.96
3'. 09557
.47
3.01755
.97
3.09716
.48
3.01914
.98
3 . 09875
.49
3.02073
.99
3 . 10034
—149—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
48.00
$3.10193
48.50
$3.18155
.01
3.10353
.51
3.18314
.02
3.10512
.52
3.18473
.03
3.10671
.53
3.18632
.04
3.10830
.54
3.18791
.05
3 . 10990
.55
3.18951
.06
3.11149
.56
3.19110
.07
3.11308
.57
3.19269
.08
3.11467
.58
3.19428
.09
3.11626
.59
3.19588
48.10
3.11786
48.60
3.19747
.11
3.11945
.61
3.19906
.12
3.12104
.62
3.20065
.13
3.12263
.63
3 . 20225
.14
3.12423
.64
3.20384
.15
3.12582
.65
3.20543
.16
3.12741
.66
3.20702
.17
3.12900
.67
3.20861
.18
3.13059
.68
3.21021
.19
3.13219
.69
3.21180
48.20
3.13378
48.70
3.21339
.21
3.13537
.71
3.21498
.22
3.13696
.72
3.21658
.23
3.13856
.73
3.21817
.24
3.14015
.74
3.21976
.25
3.14174
.75
3.22135
.26
3.14333
.76
3.22294
.27
3.14492
.77
3 . 22454
.28
3.14652
.78
3.22613
.29
3.14811
.79
3.22772
48.30
3.14970
48.80
3.22931
.31
3.15129
.81
3.23091
.32
3.15289
.82
3.23250
.33
3.15448
.83
3 . 23409
.34
3.15607
.84
3 . 23568
.35
3.15766
.85
3.23727
.36
3.15925
.86
3.23887
.37
3.16085
.87
3 . 24046
.38
3.16244
.88
3.24205
.39
3.16403
.89
3.24364
48.40
3.16562
48.90
3.24524
.41
3.16722
.91
3.24683
.42
3.16881
.92
3.24842
.43
3.17040
.93
3.25001
.44
3.17199
.94
3.25160
.45
3.17358
.95
3.25320
.46 '
3.17518
.96
3.25479
.47
3.17677
.97
3.25638
.48
3.17836
.98
3.25797
.49
3.17995
.99
3 . 25957
-150—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
49.00
S3. 26116
49.50
S3. 32087
.01
3.26235
.51
3.32206
.02
3.26355
.52
3.32325
.03
3.26474
.53
3.32445
.04
3 . 26593
.54
3.32564
.05
3.26713
.55
3.32684
.06
3.26832
.56
3.32803
.07
3.26952
.57
3 . 32923
.08
3.27071
.58
3.33042
.09
3.27191
.59
3.33161
49.10
3.27310
49.60
3.33281
.11
3.27429
.61
3 . 33400
.12
3.27549
.62
3.33520
.13
3.27668
.63
3.33639
.14
3.27788
.64
3.33758
.15
3.27907
.65
3.33878
.16
3.28026
.66
3.33997
.17
3.28146
.67
3.34117
.18
3.28265
.68
3.34236
.19
3.28385
.69
3.34356
49.20
3.28504
49.70
3.34475
.21
3.28624
.71
3.34594
.22
3.28743
.72
3.34714
.23
3.28862
.73
3.34833
.24
3.28982
.74
3.34953
.25
3.29101
.75
3.35072
.26
3.29221
.76
3.35191
.27
3.29340
.77
3.35311
.28
3.29459
.78
3 . 35430
.29
3.29579
.79
3.35550
49.30
3.29698
49.80
3.35669
.31
3.29818
.81
3.35789
.32
3.29937
.82
3.35908
.33
3.30057
.83
3.36027
.34
3.30176
.84
3.36147
.35
3.30295
.85
3.36266
.36
3.30415
.86
3.36386
.37
3 . 30534
.87
3 . 36505
.38
3 . 30654
.88
3.36624
.39
3.30773
.89
3.36744
49.40
3.30892
49.90
3.36863
.41
3.31012
.91
3 . 36983
.42
3.31131
.92
3.37102
.43
3.31251
.93
3.37222
.44
3.31370
.94
3.37341
.45
3.31490
.95
3.37460
.46
3.31609
.96
3.37580
.47
3.31728
.97
3.37699
.48
3.31848
.98
3.37819
.49
3.31967
.99
3.37938
-151—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
50.00
$3.38058
50.50
$3.42038
.01
3.38137
.51
3.42118
.02
3.38217
.52
3.42197
.03
3.38296
.53
3 . 42277
.04
3.38376
.54
3.42357
.05
3.38456
.55
3.42436
.06
3.38535
.56
3.42516
.07
3.38615
.57
3.42595
.08
3 . 38694
.58
3.42675
.09
3.38774
.59
3.42755
50.10
3.38854
50.60
3.42834
.11
3 . 38933
.61
3.42914
.12
3.39013
.62
3 . 42993
.13
3.39092
.63
3 . 43073
.14
3.39172
.64
3.43153
.15
3.39252
.65
3.43232
.16
3.39331
.66
3.43312
.17
3.39411
.67
3.43391
.18
3.39491
.68
3.43471
.19
3.39570
.69
3.43551
50.20
3.39650
50.70
3. 43630 *
.21
3.39729
.71
3.43710
.22
3 . 39809
.72
3.43790
.23
3 . 39889
.73
3.43869
.24
3.39968
.74
3.43949
.25
3.40048
.75
3.44028
.26
3.40127
.76
3.44108
.27
3 . 40207
.77
3.44188
.28
3.40287
.78
3.44267
.29
3.40366
.79
3.44347
50.30
3.40446
50.80
3.44426
.31
3.40525
.81
3.44506
.32
3.40605
.82
3.44586
.33
3.40685
.83
3.44665
.34
3.40764
.84
3.44745
.35
3 . 40844
.85
3.44824
.36
3.40924
.86
3.44904
.37
3.41003
.87
3.44984
.38
3.41083
.88
3 . 45063
.39
3.41162
.89
3.45143
50.40
3.41242
50.90
3 . 45223
.41
3.41322
.91
3.45302
.42
3.41401
.92
3.45382
.43
3.41481
.93
3.45461
.44
3.41560
.94
3.45541
.45
3.41640
.95
3.45621
.46
3.41720
.96
3.45700
.47
3.41799
.97
3.45780
.48
3.41879
.98
3 . 45859
.49
3.41958
.99
3.45939
-152—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
51.00
$3.46019
51.50
$3.49999
.01
3 . 46098
.51
3 . 50079
.02
3.46178
.52
3.50158
.03
3 . 46257
.53
3 . 50238
.04
3 . 46337
.54
3.50318
.05
3.46417
.55
3 . 50397
.06
3.46496
.56
3.50477
.07
3.46576
.57
3.50557
.08
3.46656
.58
3 . 50636
.09
3.46735
.59
3.50716
51.10
3.46815
51.60
3.50795
.11
3.46894
.61
3 . 50875
.12
3.46974
.62
3 . 50955
.13
3 . 47054
.63
3.51034
.14
3.47133
.64
3.51114
.15
3.47213
.()-->
3.51193
.16
3.47292
.66
3.51273
.17
3.47372
.67
3.51353
.18
3.47452
.68
3.51432
.19
3.47531
.69
3.51512
51 . 20
3.47611
51.70
3.51591
.21
3.47691
.71
3.51671
.22
3.47770
.72
3.51751
.23
3 . 47850
.73
3.51830
.24
3.47929
.74
3.51910
.25
3.48009
.75
3.51990
.26
3.48089
.76
3.52069
.27
3.48168
.77
3.52149
.28
3 . 48248
.78
3.52228
.29
3.48327
.79
3 . 52308
51 . 30
3 . 48407
51.80
3 . 52388
.31
3.48487
.81
3.52467
.32
3.48566
.82
3.52547
.33
3.48646
.83
3 . 52626
.34
3.48725
.84
3.52706
.35
3.48805
.85
3 . 52786
.36
3.48885
.86
3.52865
.37
3.48964
.87
3.52945
.38
3.49044
.88
3.53024
.39
3.49124
.89
3.53104
51.40
3 . 49203
51.90
3.53184
.41
3.49283
.91
3 . 53263
.42
3 . 49362
.92
3.53343
.43
3.49442
.93
3.53423
.44
3 . 49522
.94
3 . 53502
.45
3.49601
.95
3.53582
.46
3.49681
.96
3 . 53661
.47
3.49760
.97
3.53741
.48
3 . 49840
.98
3.53821
.49
3.49920
.99
3.53900
—153—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
52.00
$3.53980
52.50
$3.57960
.01
3 . 54059
.51
3 . 58040
.02
3.54139
.52
3.58120
.03
3.54219
.53
3.58199
.04
3 . 54298
.54
3.58279
.05
3.54378
.55
3 . 58358
.06
3 . 54457
.56
3.58438
.07
3.54537
.57
3.58518
.08
3.54617
.58
3 . 58597
.09
3.54696
.59
3 . 58677
52.10
3.54776
52.60
3 . 58757
.11
3.54856
.61
3 . 58836
.12
3 . 54935
.62
3.58916
.13
3.55015
.63
3 . 58995
.14
3 . 55094
.64
3 . 59075
.15
3.55174
.65
3.59155
.16
3 . 55254
.66
3.59234
.17
3.55333
.67
3.59314
.18
3.55413
.68
3.59393
.19
3 . 55492
.69
3.59473
52.20
3.55572
52.70
3.59553
.21
3 . 55652
.71
3 . 59632
.22
3.55731
.72
3.59712
.23
3.55811
.73
3.59791
.24
3 . 55890
.74
3.59871
.25
3.55970
.75
3.59951
.26
3 . 56050
.76
3.60030
.27
3.56129
.77
3.60110
.28
3 . 56209
.78
3.60190
.29
3 . 56289
.79
3.60269
52.30
3.56368
52.80
3.60349
.31
3 . 56448
.81
3.60428
.32
3.56527
.82
3.60508
.33
3 . 56607
.83
3.60588
.34
3 . 56687
.84
3.60667
.35
3.56766
.85
3.60747
.36
3.56846
.86
3.60826
.37
3 . 56925
.87
3.60906
.38
3 . 57005
.88
3.60986
.39
3.57085
.89
3.61065
52.40
3.57164
52.90
3.61145
.41
3 . 57244
.91
3.61224
.42
3.57324
.92
3.61304
.43
3 . 57403
.93
3.61384
.44
3 . 57483
.94
3.61463
.45
3.57562
.95
3.61543
.46
3.57642
.96
3.61623
.47
3.57722
.97
3.61702
.48
3.57801
.98
3.61782
.49
3.57881
.99
3.61861
-154—
MESABA NON-BESSEMER
Per Cent
Lake Erie Price
Per Cent
Lake Erie Price
Natural Iron
Natural Iron
53.00
$3.61941
53.50
$3 . 66422
.01
3.62031
.51
3.66511
.02
3.62120
.52
3.66601
.03
3.62210
.53
3.66690
.04
3.62299
.54
3.66780
.05
3.62389
.55
3.66870
.06
3.62479
.56
3 . 66959
.07
3.62568
.57
3.67049
.08
3.62658
.58
3.67138
.09
3 . 62747
.59
3.67228
53.10
3.62837
53.60
3.67318
.11
3.62927
.61
3.67407
.12
3.63016
.62
3.67497
.13
3.63106
.63
3.67587
.14
3.63196
.64
3.67676
.15
3.63285
.65
3 . 67766
.16
3.63375
.66
3.67855
.17
3 . 63464
.67
3.67945
.18
3.63554
.68
3 . 68035
.19
3 . 63644
.69
3.68124
53.20
3.63733
53.70
3.68214
.21
3.63823
.71
3.68303
.22
3.63912
.72
3.68393
.23
3 . 64002
.73
3.68483
.24
3 . 64092
.74
3.68572
.25
3.64181
.75
3.68662
.26
3.64271
.76
3.68751
.27
3.64360
.77
3 . 68841
.28
3 . 64450
.78
3.68931
.29
3 . 64540
.79
3 . 69020
53.30
3.64629
53.80
3.69110
.31
3.64719
.81
3.69200
.32
3.64809
.82
3.69289
.33
3.64898
.83
3.69379
.34
3.64988
.84
3.69468
.35
3.65077
.85
3.69558
.36
3.65167
.86
3 . 69648
.37
3.65257
.87
3.69737
.38
3.65346
.88
3 . 69827
.39
3.65436
.89
3.69916
53.40
3.65525
53.90
3.70006
.41
3.65615
.91
3.70096
.42
3.65705
.92
3.70185
.43
3 . 65794
.93
3.70275
.44
3 . 65884
.94
3 . 70364
.45
3.65974
.95
3 . 70454
.46
3.66063
.96
3 . 70544
.47
3.66153
.97
3.70633
.48
3.66242
.98
3 . 70723
.49
3.66332
.99
3.70813
—155—
MESA3A NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
54.00
$3.70902
54.50
$3.75883
.01
3.71002
.51
3.75982
.02
3.71101
52
3.76082
.03
3.71201
isa
3.76182
.04
3.71301
.54
3.76281
.05
3.71400
.55
3.76381
.06
3.71500
.56
3 . 76480
.07
3.71599
.57
3 . 76580
.08
3.71699
.58
3.76680
.09
3.71799
.59
3 . 76779
54.10
3.71898
54 . 60
3 . 76879
.11
3.71998
.61
3.76978
.12
3 . 72097
.62
3 . "7078
.13
3.72197
.63
3. "7178
.14
3 . 72297
.64
3. "7277
.15
3 . 72396
.65
3 . "7377
.16
3 . 72496
.66
3.77477
.17
3 . 72596
.67
3 . "7576
.18
3.72695
.68
3 . "7676
.19
3 . 72795
.69
3.77775
54.20
3.72894
54.70
3 . 77875
.21
3.72994
.71
3.77975
.22
3.73094
.74
3.78074
.23
3.73193
.73
3.78174
.24
3.73293
.74
3.78273
.25
3.73392
.75
3 . 78373
.26
3.73492
.76
3 . 78473
.27
3 . 73592
.77
3 . 78572
.28
3.73691
.78
3.78672
.29
3.73791
.79 v
3.78771
54.30
3 . 73890
54.80
3.78871
.31
3 . 73990
.81
3.78971
.32
3 . 74090
.82
3.79070
.33
3.74189
.83
3.79170
.34
3 . 74289
.84
3 . 79270
.35
3.74389
.85
3.79369
.36
3 . 74488
.86
3.97469
.37
3 . 74588
.87
3 . 79568
.38
3.74687
.88
3 . 79668
.39
3.74787
.89
3.79768
54.40
3.74887
54.90
3.79867
.41
3.74986
.91
3 . 79967
.42
3 . 75086
.92
3 . 80066
.43
3.75185
.93
3.80166
.44
3.75285
.94
3 . 80266
.45
3.75385
.95
3 . 80365
.46
3 . 75484
.96
3 . 80465
.47
3 . 75584
.97
3 . 80564
.48
3 . 75683
.98
3 . 80664
.49
3.75783
.99
3.80764
—156—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
55.00
$3 . 80863
55.50
$3.86344
.01
3.80973
.51
3 . 86453
.02
3.81083
.52
3 . 86563
.03
3.81192
.53
3.86673
.04
3.81302
.54
3.86782
.05
3.81411
.55
3.86892
.06
3.81521
.56
3.87002
.07
3.81631
.57
3.87111
.08
3.81740
.58
3.87221
.09
3.81850
.59
3.87330
55.10
3.81959
55.60
3 . 87440
.11
3.82069
.61
3 . 87550
.12
3.82179
.62
3.87659
.13
3.82288
.63
3.87769
.14
3 . 82398
.64
3.87878
.15
3 . 82507
.65
3.87988
.16
3.82617
.66
3.88098
.17
3.82727
.67
3.88207
.18
3.82836
.68
3.88317
.19
3 . 82946
.69
3.88427
55.20
3 . 83056
55.70
3 . 88536
.21
3.83165
.71
3 . 88646
.22
3.83275
.72
3.88755
.23
3.83384
.73
3 . 88865
.24
3.83494
.74
3.88975
.25
3.83604
.75
3 . 89084
.26
3.83713
.76
3.89194
.27
3.83823
.77
3.89303
.28
3.83932
.78
3.89413
.29
3 . 84042
.79
3.89523
55.30
3.84152
55.80
3.89632
.31
3.84261
.81
3 . 89742
.32
3.84371
.82
3.89851
.33
3 . 84480
.83
3 . 89961
.34
3.84590
.84
3.90071
.35
3.84700
.85
3.90180
.36
3.84809
.86
3 . 90290
.37
3.84919
.87
3 . 90400
.38
3 . 85029
.88
3.90509
.39
3.85138
.89
3.90619
55.40
3.85248
55 . 90
3.90728
.41
3.85357
.91
3 . 90838
.42
3 . 85467
.92
3 . 90948
.43
3.85577
.93
3.91057
.44
3.85686
.94
3.91167
.45
3.85796
.95
3.91276
.46
3 . 85905
.96
3.91386
.47
3.86015
.97
3.91496
.48
3.86125
.98
3.91605
.49
3 . 86234
.99
3.91715
—157—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
56.00
$3.91824
56.50
$3.97805
.01
3.91944
.51
3.97925
.02
3.92064
.52
3.98044
.03
3.92183
.53
3.98164
.04
3.92303
.54
3 . 98283
.05
3.92423
.55
3.98403
.06
3.92542
.56
3.98523
.07
3.92662
.57
3.98642
.08
3.92781
.58
3.98762
.09
3.92901
.59
3.98882
56.10
3.93021
56.60
3.99001
.11
3.93140
.61
3.99121
.12
3.93260
.62
3.99240
.13
3.93379
.63
3.99360
.14
3.93499
.64
3 . 99480
.15
3.93619
.65
3.99599
.16
3.93738
.66
3.99719
.17
3.93858
.67
3.99838
.18"
3.93977
.68
3 . 99958
.19
3.94097
.69
4.00078
56.20
3.94217
56.70
4.00197
.21
3.94336
.71
4.00317
.22
3 . 94456
.72
4.00436
.23
3.94576
.73
4.00556
.24
3.94695
.74
4.00676
.25
3.94815
.75
4.00795
.26
3.94934
.76
4.00915
.27
3 . 95054
.77
4.01035
.28
3.95174
.78
4.01154
.29
3.95293
.79
4.01274
56 . 30
3.95413
56.80
4.01393
.31
3.95532
.81
4.01513
.32
3.95652
.82
4.01633
.33
3 . 95772
.83
4.01752
.34
3.95891
.84
4.01872
.35
3.96011
.85
4.01991
.36
3.96130
.86
4.02111
.37
3.96250
.87
4.02231
.38
3.96370
.88
4.02350
.39
3.96489
.89
4 . 02470
56.40
3.96609
56.90
4.02590
.41
3.96729
.91
4.02709
.42
3.96848
.92
4.02829
.43
3.96968
.93
4.02948
.44
3.97087
.94
4.03068
.45
3.97207
.95
4.03188
.46
3.97327
.96
4.03307
.47
3.97446
.97
4.03427
.48
3.97566
.98
4.03546
.49
3.97685
.99
4.03666
-158—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
57.00
$4.03786
57.50
$4.10266
.01
4.03915
.51
4.10396
.02
4.04045
.52
4.10525
.03
4.04174
.53
4.10655
.04
4.04304
.54
4.10785
.05
4.04434
.55
4.10914
.06
4.04563
.56
4.11044
.07
4.04693
.57
4.11173
.08
4.04823
.58
4.11303
.09
4.04952
.59
4.11433
57.10
4 . 05082
57.60
4.11562
.11
4.05211
.61
4.11692
.12
4.05341
.62
4.11822
.13
4.05471
.63
4.11951
.14
4.05600
.64
4.12081
.15
4.05730
.65
4.12210
.16
4.05859
.66
4.12340
.17
4.05989
.67
4.12470
.18
4.06119
.68
4.12599
.19
4.06248
.69
4.12729
57.20
4.06378
57.70
4.12858
.21
•4.06507
.71
4.12988
.22
4.06637
.72
4.13118
.23
4.06767
.73
4.13247
.24
4.06896
.74
4.13377
.25
4.07026
.75
4.13506
.26
4.07156
.76
4.13636
.27
4.07285
.77
4.13766
.28
4.07415
.78
4.13895
.29
4.07544
.79
4.14025
57.30
4.07674
57.80
4.14155
.31
4.07804
.81
4.14284
.32
4.07933
.82
4.14414
.33
4.08063
.83
4.14543
.34
4.08192
.84
4.14673
.35
4.08322
.85
4.14803
.36
4.08452
.86
4.14932
.37
4.08581
.87
4.15062
.38
4.08711
.88
4.15191
.39
4.08840
.89
4.15321
57.40
4.08970
57.90
4.15451
.41
4.09100
.91
4.15580
.42
4.09229
.92
4.15710
.43
4.09359
.93
4.15839
.44
4 . 09489
.94
4.15969
.45
4.09618
.95
4.16099
.46
4.09748
.96
4.16228
.47
4.09877
.97
4.16358
.48
4.10007
.98
4.16488
.49
4.10137
.99
4.16617
— 159 —
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
^58.00
$4.16747
58.50
$4.20727
.01
4.16826
.51
4 . 20807
.02
4.16906
.52
4 . 20887
.03
4.16986
.53
4.20966
.04
4.17065
.54
4.21046
.05
4.17145
.55
4.21125
.06
4.17224
.56
4.21205
.07
4.17304
.57
4.21285
.08
4.17384
.58
4.21364
.09
4.17463
.59
4.21444
58.10
4.17543
58.60
4.21523
.11
4.17623
.61
4.21603
.12
4.17702
.62
4.21683
.13
4.17782
.63
4.21762
.14
4.17861
.64
4.21842
.15
4.17941
.65
4.21922
.16
4.18021
.66
4.22001
.17
4.18100
.67
4.22081
.18
4.18180
.68
4.22160
.19
4.18259
.69
4.22240
58.20
4.18339
58.70
4.22320
.21
4.18419
.71
4 . 22399
.22
4.18498
.72
4.22479
.23
4.18578
.73
4.2255S
.24
4.18657
.74
4.22638
.25
4.18737
.75
4.22718
.26
4.18817
.76
4.22797
.27
4.18896
.77
4.22877
.28
4.18976
.78
4.22956
.29
4.19056
.79
4.23036
58.30
4.19135
58.80
4.23116
.31
4.19215
.81
4.23195
.32
4.19294
.82
4.23275
.33
4.19374
.83
4.23355
.34
4.19454
.84
4 . 23434
.35
4.19533
.85
4.23514
.36
4.19613
.86
4.23593
.37
4.19692
.87
4.23673
.38
4.19772
.88
4.23753
.39
4.19852
.89
4.23832
58.40
4.19931
58.90
4.23912
.41
4.20011
.91
4.23991
.42
4 . 20090
.92
4.24071
.43
4.20170
.93
4.24151
.44
4 . 20250
.94
4 . 24230
.45
4.20329
.95
4.24310
.46
4 . 20409
.96
4.24389
.47
4.20489
.97
4 . 24469
.48
4.20568
.98
4 . 24549
.49
4 . 20648
.99
4.24628
—160—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
59.00
$4.24708
59.50
$4.28689
.01
4.24788
.51
4.28768
.02
4.24867
.52
4 . 28848
.03
4 . 24947
.53
4.28927
.04
4.25026
.54
4 . 29007
.05
4.25106
.55
4 . 29087
.06
4.25186
.56
4.29166
.07
4.25265
.57
4.29246
.08
4.25345
.58
4.29325
.09
4.25424
.59
4.29405
59.10
4.25504
59.60
4.29485
.11
4.25584
.61
4.29564
.12
4.25663
.62
4.29644
.13
4.25743
.63
4.29723
.14
4.25823
.64
4.29803
.15
4 . 25902
.65
4.29883
.16
4.25982
.66
4.29962
.17
4.26061
.67
4.30042
.18
4.26141
.68
4.30122
.19
4.26221
.69
4.30201
59.20
4.26300
59.70
4.30281
.21
4.26380
.71
4.30360
.22
4.26459
.72
4.30440
.23
4.26539
.73
4 . 30520
.24
4.26619
.74
4 . 30599
.25
4.26698
.75
4.30679
.26
4.26778
.76
4.30758
.27
4.26857
.77
4.30838
.28
4.26937
.78
4.30918
.29
4.27017
.79
4.30997
59.30
4.27096
59.80
4.31077
.31
4.27176
.81
4.31156
.32
4.27256
.82
4.31236
.33
4.27335
.83
4.31316
.34
4.27415
.84
4.31395
.35
4.27494
.85
4.31475
.36
4.27574
.86
4.31555
.37
4.27654
.87
4.31634
.38
4.27733
.88
4.31714
.39
4.27813
.89
4.31793
59.40
4 . 27892
59.90
4.31873
.41
4.27972
.91
4.31953
.42
4.28052
.92
4.32032
.43
4.28131
.93
4.32112
.44
4.28211
.94
4.32191
.45
4.28290
.95
4.32271
.46
4.28370
.96
4.32351
.47
4 . 28450
.97
4 . 32430
.48
4.28529
.98
4.32510
.49
4.28609
.99
4 . 32589
—161—
MESABA NON-BESSEMER
Per Cent
Natural Iron
Lake Erie Price
Per Cent
Natural Iron
Lake Erie Price
60.00
$4.32669
60.50
$4.36650
.01
4.32749
.51
4.36729
.02
4.32828
.52
4.36809
.03
4.32908
.53
4.36889
.04
4.32988
.54
4.36968
.05
4.33067
.55
4.37048
.06
4.33147
.56
4.37127
.07
4.33226
.57
4.37207
.08
4.33306
.58
4.37287
.09
4.33386
.59
4.37366
60.10
4.33465
60.60
4.37446
.11
4.33545
.61
4.37525
.12
4.33624
.62
4.37605
.13
4.33704
.63
4.37685
.14
4.33784
.64
4.37764
.15
4.33863
.65
4.37844
.16
4.33943
.66
4.37923
.17
4.34022
.67
4.38003
.18
4.34102
.68
4.38083
.19
4.34182
.69
4.38162
60.20
4.34261
60.70
4.38242
.21
4.34341
.71
4.38322
.22
4.34421
.72
4.38401
.23
4.34500
.73
4.38481
.24
4.34580
.74
4 . 38560
.25
4.34659
.75
4 . 38640
.26
4.34739
.76
4 . 38720
.27
4.34819
.77
4 . 38799
.28
4.34898
.78
4.38879
.29
4.34978
.79
4.38958
60.30
4.35057
60.80
4 . 39038
.31
4.35137
.81
4.39118
.32
4.35217
.82
4.39197
.33
4.35296
.83
4.39277
.34
4.35376
.84
4.39356
.35
4.35456
.85
4.39436
.36
4.35535
.86
4.39516
.37
4.35615
.87
4 . 39595
.38
4.35694
.88
4.39675
.39
4.35774
.89
4.39755
60.40
4.35854
60.90
4.39834
.41
4.35933
.91
4.39914
.42
4.36013
.92
4.39993
.43
4.36092
.93
4.40073
.44
4.36172
.94
4.40153
.45
4.36252
.95
4.40232
.46
4.36331
.96
4.40312
.47
4.36411
.97
4.40391
.48
4.36490
.98
4.40471
.49
4.36570
.99
4.40551
UNIVERSITY OF CAMFOHNI*
FOR^A NO. DD6
YC 19163
LIBRARIES
Live Music Archive
Librivox Free Audio
Metropolitan Museum
Cleveland Museum of Art
Internet Arcade
Console Living Room
Books to Borrow
Open Library
TV News
Understanding 9/11