Eastern Iron-Ore Mining Inactive

MAGNETITE deposits in the Eastern States have been mined uninterruptedly since pre-Revolutionary War days. The industry, thriving in normal times, was given impetus in all periods of tumult, and continued to advance and expand, until the Lake Superior ores came into production. A period of comparative quiet existed until increased freight rates, together with increased mining costs on Lake Region ores, permitted the magnetites again to compete. This, coupled with World War demands, created unpre¬cedented activity. Producing plants were at their peak, new mines were equipped and put in operation and the industry pushed production beyond the absorption point. Ore stocks were tremendous, internal competition severe, and a great increase in import of European ores brought the industry to a low ebb in 1923.