In 1873 Jay Cooke, who had been an important factor in the construction of the Northern Pacific Railroad, failed, which was a serious blow to Duluth. Mr. Stone had given his attention largely to the investigation of the mineral resources of the Lake Superior region in Minnesota, and had become convinced of the presence of large beds of iron ore in its northeastern portion, now known as the Vermillion Range. When he first made known his discovery, the location of the ore was so remote from civilization that he found it difficult to interest any one in his enterprise. Few shared his faith, but undismayed by lack of support, he undertook, with steady persistence, the task of securing the capital necessary to develop what he was convinced was a great natural wealth-producing field. Comparatively alone, and with little encouragement at home, he visited the money centers of the country, and assiduously labored to induce men of capital to embark in the enterprise, but found it to be uphill work. The first men whose support he secured were Charlemagne Tower of Pottsville, Pa., and Samuel A. Munson of Utica, N. Y., both men of education and great wealth. They became sufficiently interested to secure a proper test of the matter. Professor Chester of Hamilton College was sent out on two occasions. Mr. Munson died, and after the lapse of a few years Charlemagne Tower, then a resident of Philadelphia, undertook to furnish the necessary funds to make the development, which involved the expense of $4,000,000 in building a railroad eighty miles in length, with docks and other operating facilities. The railroad was opened in July, 1884, and there was shipped that season 62,124 tons of ore, and in 1885 the shipment reached 225,000 tons. In 1886 304,000 tons were shipped; in 1887, 394,000 tons; in 1888, 512,000. The output of the iron mines at and about the head of the lakes had, by 1898, grown to the enormous quantity of 5,871,801 tons. The grade of the ore is the highest in the market. This product is one of the most important in the state, and seems destined to expand indefinitely. No better idea of the growth and importance of Duluth, and, in the same connection, the advance of the state, since the war, can be presented than by a statement of a few aggregates of different industries centered at the head of the lakes. The most recent record obtainable is for the year 1898. For example: Lumber cut 544,318,000 feet. Coal received 2,500,000 tons. Number of vessels arrived and cleared 12,150 Wheat received, and flour as wheat 82,118,129 bushels. Other grain 19,428,622 bushels. Flour manufactured 2,460,025 barrels. Capacity of elevators 24,650,000 bushels. Capacity of flour mills per day 22,000 barrels.