Sunday, September 28, 2014

On This Date in Minnesota History: September 28

September 28, 1901 – The state board of equalization has decided that iron ore in stock piles at the mines of St. Louis County shall go on the assessments rolls at $1 per ton. It was assessed by the county authorities at 50 cents. The various companies were on hand this morning with a vigorous protest, and F. B. Kellogg declared that they would not stand the increase. They will fight the assessment in the courts.

The total assessments of the Lake Superior Consolidated Iron Mines on ore stocks was $1,249,390. The increase brings it to $2,498,780, an increase in the state’s valuation that will have a very material influence.

The iron companies were represented by J. B. Cotton of the Duluth, Missabe & Northern, F. B. Kellogg, general attorney for the Duluth & Iron Range and Chester A. Congdon of the Oliver Iron Mining Company.

According to the figures submitted by the iron company representatives the ore at the mines is worth next to nothing. They considered 50 cents a ton rather a high assessment.

State Auditor Dunn presented figures showing that on May 1, as a result of the winter’s work, there must have been on hand at the mines at least 4,000,000 tons, which at 50 cents a ton would mean a valuation of $2,000,000. He contended that $1 a ton was a very fair valuation.

The resolution was adopted by a vote of 10 to 7.

The Minneapolis Journal; “St. Louis Co. Iron Ore. ‘Twill Be Assessed $1 Per Ton. Companies Protested Vigorously and Will Fight Assessment to the Death.”; Sept. 28, 1901; p. 1.

Chester A. Congdon

No comments:

Post a Comment