Source: The Lake Superior Democrat
Ishpeming, Mi.
February 14, 1891 Saturday

In New Hands
The EIN&W Road is now in the C&NW's Possession
A New Traffic Arrangement

The gentlemen who made so exhaustive a study of the East
Negaunee mines of the Schlesinger syndicate, and the Chapin
mine at Iron Muuntain two weeks ago, have returned to New
York and made their report. As a result the formal transfer
of the BIM&W and with it in effect if not in actual form, the
traffic of the mines to 4 new proprietorship, has doubtless
already been effected. A meeting of the parties conducting
negotiations was held in New York on Thursday and at this
meeting the deal was to be closed. The local office at Ne-
gaunee has not yet received any communications from New York,
but as all parties concerned hed already expressed themselves
satisfied with the proposed terms, it is not likely that a
hitch could occur.

The management of tne mines no longer makes any secret of
the identity of the purchasers. The C&NW gobbles tne Schle-
singer bag and baggage and the same interest that holds the
C&NW will own the mines if they want them. At any rate the
business of the mines will be guaranteed to that road and the
prospects of any competing lire in securing any share of that
business will be nil. Greater security could not come from
absolute possession,

A special meeting of the stokcholders of the Queen Mining
company has been called to meet in Marquette on the third day
of March. The case sets forth that tne meeting is to be held
for the purpose of taking action on a proposed resolution
authorizing the officers of the company to execute and deliver
to she C&NW a certain transportation contract or traffic ar-
rangement, a draft of which is already on file. It is not
necessary to say that the action of the Queen company in this
particular will also be the action of the cther mines belong-
ing to the same syndicate.

The new arrangement tightens the grip of the C&NW upon the
ore business of the Menominee and llarquette ranges and makes
more remote the possibility of securing the competition which
this mining section needs to relieve it of the excessive rates
of transportation; which it is now compelled to pay.

It will also divert from the port of Marquette a considerable
amount of its shipments. Last year the East Negaunce group ship-
ped via Marquette 175,000 tons of ore. This business will be en-
tirely lost to the DSS&A and the port of Marquette and the loss
will be a material one too. It may, however, indirectly ac-
eonplish some good in forcing the South Shore into making a
lower rate into Marquette. Such a step would undoubtedly secure
it considerable ore which now goes via Escanaba,

   

CaNy Chapin
DSS&A Queen
EIM&W