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SKILUNGS MINING REVIEW. PUBLISHED EVERY SATURDAY MORNING fl ft iTlaJmi , Tfl-iHdBBtoafci KM::::] < —- .«u;J. i .j..■■■■>•■■ an || a '. VOLUME IX. No. 51 DULUTH, MINNESOTA, MAY 7, 1921. Copyrisbt, 1021, l>y SkilllnKs' Mining Hevletv. (JfcJl ft-tfrt ^4. Cm^-xtxr^ (Xa (\Je(tetAxl <^- "^ <D\ (iXtHwc* (Artuuxjuifr ~/#^ 5z2*^ Off**- ®fr ficKfh \"^aM AaA_ A^fvo*** -fe /&m JrttJ &fy &-0Vl/9-tW«A A* ■f cy\S^iy^^-^r Sr(7 \<vnr*° ^UJllu^y I sSLo jig Xeyeumd 0b;o <0&>-&4^«&4aA70io <?& 'RECEIVED SETELEWEHT OF FREIGHT IN KJIX BILL OF LADING OF FIRST ORE CARGO FROM THE MESABI RANGE Through the courtesy of Oglebay, Norton & Co., of Cleveland, the Mining Review this week is enabled to reproduce a copy of the first bill of lading of the first shipment of iron ore from the Mesabi range. The original bill of lading is framed and hangs in the office of Oglebay, Norton & Co., in Cleveland. The first shipment of a small cargo from the Mountain Iron Mine, in November, 1892, was the forerunner of the most remarkable development in the world's history of iron mining. The Mesabi is the present backbone of the iron and steel industry in the United States. During the past 60 odd years there has been shipped in excess of one billion tons of iron ore from the Lake Superior district, and in the past 29 years 555,000,000 tons of it was shipped from the Mesabi range. PITTSBURGH PLUS WILL BE TRIED ON ITS MERITS- NOBODY KNOWS RESULTS IF PRACTICE ABOLISHED I The Federal Trade Commission by a vote of three to two issued a formal complaint against the Steel Corporation and 11 subsidiaries, in the Pittsburgh plus case. This merely means that the case will now be tried on its merits. The Corporation has thirty days in which to make formal answer, and that will make the time about the end of the present month. Plenty of people assume to know just what will happen, and will tell anybody who is interested, how great benefits will accrue by the abolishment of Pittsburgh plus, but as a matter of fact nobody knows just what will happen, or whether the benefits which are expected will be realized. The reason they do not know, and cannot know, is that the Pittsburgh plus principle has been in vogue almost since the birth of the iron and steel industry. It was adopted in the first place to obtain a uniform price upon which consumers of all manner of iron and steel products throughout the country could figure on and depend upon. Prior to that there was no stability of prices and the uncertainties met with in figuring a long list of different products of the industry were further complicated by the activities of brokers. It must be admitted that uniformity of prices, on some basis or other, must obtain or consumers of iron and steel products can never place important orders with confidence, and the temptation to hurtful price slashing may easily be fostered. Every link in the chain of industry should be strong to make for uniform and sustained prosperity. Whether the abolition of Pittsburgh plus will strengthen or weaken the chain is a matter of opinion only. The establishing of perhaps four or five steel price basing points is one thing. Trade relations naturally should be considered, and the important factor of reciprocity in business, which is even older than Pittsburgh plus, has very important ramifications. Casual readers of the newspapers may easily get the idea that Pittsburgh plus was established by the Steel Corporation. As already stated the system is virtually as old as the steel trade in America. There is no record that the Steel Corporation is anxious for the continuance of Pittsburgh plus. In fact the complaint just issued against the Corporation says that Judge Gary urged the Federal Trade Commission to assume jurisdiction and to investigate the practice with the view, apparently, of correcting any abuses, should they exist. The independent steel companies would probably be more unfavorably affected than the Steel Corporation, from an abolishment of the Pittsburgh plus, as the Corporation has plants widely distributed. It is possible that such action would hasten the long talked of merger of independents. The expectation of some people is that the result may be the establishment of numerous basing points, including one at Duluth. With basing points at Chicago and Buffalo one independent already has boasted that they could compete in Duluth territory with the Duluth plant. The Duluth plant is a member of the (Continued on Page 13)
SKILUNGS MINING REVIEW.
PUBLISHED EVERY SATURDAY MORNING
fl ft iTlaJmi , Tfl-iHdBBtoafci
< —- .«u;J. i
.j..■■■■>•■■ an || a '.
VOLUME IX. No. 51
DULUTH, MINNESOTA, MAY 7, 1921.
Copyrisbt, 1021, l>y
SkilllnKs' Mining Hevletv.
(JfcJl ft-tfrt ^4. Cm^-xtxr^ (Xa (\Je(tetAxl <^- "^