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SKILMGS MINING MM PUBLISHED EVERY SATURDAY MORNING ■fit* rrrttrn nng ttnflrt. ,Magm<itewi VOLUME VI. DULUTH, MINNESOTA, SEPTEMBER 15, 1917. No. 17 MARYSVILLE GOLD WILL EARN $2,000 NET PER DAY ON 150 TONS PRODUCTION. HIGH AVERAGE VALUES j : On or about January 1 Marysville Gold Mining Company will be earning $2,000 per day net from the production of gold and silver, on a basis of treating 150 tons per day. This will be clean profit. This estimate, and the figures upon which it is based, are all very conservative. The foregoing estimate is made after a careful check of the silver values of the Marysville ore. It is ascertained that development work to date shows an average of 8 ounces silver to the ton. which represents at the present price of the white metal well above $7. For purpose of ascertaining a conservative estimate of earnings when the company puts its property upon a producing basis about the first of the year, the company has gone into the entire subject quite exhaustively. It is found that it is easily within results capable of demonstration that the developed Marysville ore will run $10 gold and 8 ounces silver to the ton on an average. That represents about $17 per ton. The mill which the company will install will treat 150 tons per day easily, and the property has been developed to a point where the mine can supply 150 to 200 tons per day with no difficulty. It is estimated that this ore can be mined and milled at a cost of not to exceed $3 per ton. That leaves a net profit of $14 per ton, so that on the minimum production and treatment of ore, earnings should easily be $2,000 net per day. It should be remembered that Marysville Gold is a tunnel proposition down to a depth of 700 feet. Mining and milling costs will be low in consequence. Mining and milling estimate of $3 is considered liberal, and the estimates of values per ton very conservative. FROSTED POTATO VINES. Do Not Dig Such Tubers Until About the Usual Time. Frost came and damaged the potato vines before the tubers were matured, in Northern Minnesota this year, and L. B. Arnold, land commissioner of the Duluth & Iron Range railroad, is anxious to have as many potato raisers as possible to not make the mistake of digging them too soon. He first consulted Andrew Boss, chief of the division of farm management of the department of agriculture of the Minnesota university, who says: "The* proper course is to let the potatoes remain in the ground to mature. They should have from two to four weeks for this, depending upon weather conditions. Following such curing they may be dug and stored as any other potatoes. A farmer at the community meeting at the Duluth Demonstration farm the other day claimed to have had much experience with frosted potatoes, and stated that such potatoes were fully as desirable for seed as potatoes that had made their full growth. I think you have everything to gain and nothing to lose by leaving the potatoes in the ground for two or three weeks at least." j "NORTHERN MINNESOTA ORE COMPANY" HAS VERY BRIGHT FUTURE ON TWO GREAT IRON ORE RANGES A mining company, organized along lines different from the average mining company, is becoming widely known among mining men and investors. This new organization is the Northern Minnesota Ore Company, which has extensive holdings on the Cuyuna iron range Ernest Le Due, president, and Charles Batre, vice president, of Big Ledge Copper, are in New York this week. CHARLES W. POTTS, Of Deerwood, Minn., President of the Northern Minnesota Ore Company. and on the Mesaba iron range, both in the northern part of Minnesota. The property of the Northern Minnesota Ore Company consists of 12 fee interests on the Cuyuna range and one fee interest on the Mesaba. One of the fee interests of the Cuyuna district is on the South range and the others are on the North range. Eight of these properties have been drilled, and large bodies of high grade iron and manganiferous ores have been proven. Four of the properties are now leased to mining companies, from which the Northern Minnesota Ore Company is receiving royalties. The Mesaba property is leased to the Oliver Mining Company. The company owns a lease on four properties located in section 20, township 47, range 28, on the Cuyuna range on which a large, ton- (Continued on Page 5.) j SHENANGO FURNACE CO. SATISFIES BIG MORTGAGE AGAINST WEBB IRON MINE. INDEPENDENTS EXPAND One of the striking reminders of the expansion of independent iron and steel corporations is found in the announcement this week that The Shenango Furnace Company of Pittsburgh has just wiped out an indebtedness of $2,500,- 000 that it incurred in 1910. During the summer of that year, for the purpose of carrying on and enlarging its business, the furnace company issued $2,500,000 of 5% 20-year sink- irg fund gold bonds, redeemable upon any interest date after June 1, 1911, at par and accrued interest. To secure payment of the same the furnace company executed a first mortgage, or deed of trust, to the Pittsburgh Trust Company, on the Webb iron ore mine, Mesaba range. The furnace company, therefore, has redeemed the bonds in about seven years. Satisfaction of the mortgage against the Webb mine was filed with the register of deeds of St. Louis county, in Duluth, last Monday. The Shenango Furnace Company is one of the several large independent iron and steel corporations which operate furnaces and mines and have their own lake transportation facilities. The company thus controls from the iron ore in the ground to the furnace product. W. P. Snyder of Pittsburgh, who is at the head cf The Shenango Furnace Company, is a very able business man. The company's furnaces are situated at Sharpesville, Penn., and it was there for the first time demonstrated that 100% Mesaba ore could be used for a full furance charge. The furnace was charged by W. A. Barrows, Jr., who is well known in the Lake Superior region, and was at the time directing furnace operations for the Shenango. The furnace company owns a splendid fleet of five large modern cargo carriers, and operates the Shenango, Webb, Whiteside and Tioga mines on the Mesaba range. The company's ore shipments anuualy are 1,100,000 gross tons. Edward J. Maney of Duluth is manager of The Shenango Furnace Company. SHATTUCK-ARIZONA. Decrease of Production Due to Late Strike and Shortage of Labor. Shattuck production for the month of August shows the effect of the late labor trouble, and present labor shortage, in the Bisbee district. Copper production for the month was 644,667 pounds, compared with 1,699.575 pounds in the same months a year ago. There was a corresponding decrease in lead, silver and gold. Development of new ore reserves in Shattuck continues with excellent results. Report for August and eight months is as follows: Pounds Pounds Ounces Ounces Copper Lead Silver Geilel August 644,677 52,997 8,277 77.6!l Eight mos....9,010,647 1,799,433 120,847 1,202.13 During the same eight months in 1916 Shattuck produced 11,976,584 pounds copper, 2- 101,080 pounds lead, 213,112 ounces silver and 3,408.52 ounces gold. POSTPONE ANNUAL MEETING. The annual meeting of Consolidated Vermillion & Extension Company, which was to have been held last Tuesday, was adjourned until October 11.
SKILMGS MINING MM
PUBLISHED EVERY SATURDAY MORNING
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