New Penalty System Gains Ground in Iron Ore Trade
Leading ore interests adopt a new penalty system to balance furnace and shipper interests amid wide ore price swings. Furnaces gain concessions for ores below base while shippers receive bonuses for ore above guarantee. Despite fair terms, most contracts wait until month’s end. Shipments to July 1 show large drop from 1907, with total season movement projected around 20 million tons if trends hold. Port openings limited at Ashtabula, while other ports handle available cargo. overcapacity in boats noted. Base ore quotes: old range Bessemer 4.50, Mesabi Bessemer 4.25, old range non-Bessemer 3.70, Mesabi non-Bessemer 3.50.
MENTIONED IN THIS ARTICLE
Ashtabula
Alroady
Sidnaw Wins Three Factories For Jobs Thrill
Sidnaw gains three new industries to employ about 150 people. Wm. Biener & Son of Traverse City plan a butter dish factory, a saw mill, and a chair stock and curtain roller factory. A free site is provided by the town. Operations target: butter dish plant by December, other plants next year. Attorney Walter G. Van Slyck helped draw papers. Widespread local joy follows the deal.
MENTIONED IN THIS ARTICLE
Sidnaw
Wm. Biener & Son
Traverse City
Walter G. van Slyck
Oliver Iron Mining Plans Large Virginia Operations
The Virginian reports Oliver Iron Mining prepares extensive work on its Virginia holdings Norman Lone Jack and Missabe Mountain. After a year and a half the stripping of Ohio and Norman is largely finished with about a million yards of overburden moved. One shovel remains for cleanup as three crews were laid off. The company eyes a major power plant and machine shops, with Cole & McDonald drills testing ground west of Iron Range depot to locate buildings and determine ore beneath the surface. Plans include many worker houses and underground mining of part of the ore body with two steel shaft houses and adjacent power plants, while Mountain Iron shipments begin and stripping output is expected to be intermittent and light this season.
MENTIONED IN THIS ARTICLE
Virginian
Oliver Iron Mining Company
Virginia
Norman
Lone Jack
Missabe Mountain
Ohio
Cole & McDonald Exploration Company
Iron Range Depot
Sidnaw area to gain new industry and jobs
The Calumet News notes Sidnaw's surrounding hardwood resources and reports Bitener & Son anticipate an adequate long term supply. The town, once lively, has declined in recent years, but new industries are expected to revive it.
Meeting of Peace Officers Convention in Menominee
The upper peninsula chiefs of police sheriffs and prosecuting attorneys receive invitations from A P English chief of police Menominee and president of the Association to attend the annual meet in Menominee on August 11 and 12. Guests include William Pinkerton and Chiefs Shippy and Jansen. The program features sessions sightseeing excursions social events and a banquet. The abstractors convention from Michigan and Wisconsin meets concurrently bringing many visitors.
MENTIONED IN THIS ARTICLE
Upper Peninsula
A. P. English
Menominee
Association of
Police
William Pinkerton
Pinkerton
Shippy
Chicago
Jansen
Milwaukee
English
Michigan
Wisconsin
Also Mentioned on This Page
the. First
National Bank Bessemer
William I. Prince
Geo
L. Loope
Walter F. Truettner
Olin Tours
KO. L. Loope
Lberton
Nelich
Dougherty Stock CO
Opera House
Jim and
Hattie Dougherty
E. G. Peterson
Iron
Mountain Iron Mine
Oliver Company
OF Peace Officers
L. H. Truettner
The
Bessemer Cement Works
Peter Bob
Northwestern Hotel
Lead Street
Bessemer, Mich
WM. Waters & CO
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