Appraisal of Mining Properties of Michigan By the State Board of Tax ...
Appraisal of Mining Properties of Michigan By the State Board of Tax ...
Michigan. Board of State Tax Commissioners, James Ralph Finlay
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The expected future price of ore has been fixed for the purposes of this report on a calculated value for all grades based on the average quotations for standard ores for the past seven years. As a matter of fact the average for seven years differs very little from the average of the past five years. These standard prices are fixed annually by the Lake Superior Iron Ore Association. The methods of figuring the price of ore from analysis is fully described in the hand book by Crowell & Murray, o...f Cleveland, (The Penton Publishing Company, of Cleveland, publishers). It is also explained in Rukard Hurd's Iron Ore Manual of the I>ake Superior dis- trict (F. M. Catlin, Sales Agent, St. Paul, Minnesota). On account of the rather complicated nature of these calculations they are not described in this summary, but the average price received and the average price expected for the ore of each mine may be found in the tables of figures. The question arises whether the average price for the past seven years is a fair one for the future.
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