Pickands Mather and Company

The Pickands Mather Group is an American company which provides shipping of coal and other bulk commodities, and the purchase, sale, and marketing of bulk coal. Founded in 1883 as Pickands Mather & Company, it once had the second largest shipping fleet on the Great Lakes in the 1910s and 1920s. The company was purchased by the Diamond Shamrock Corporation in 1968, which in turn sold it to the Moore-McCormack Resources in 1973. Moore-McCormack sold Pickands Mather's mining interests to Cleveland-Cliffs in 1986. Moore-McCormack then spun off the Interlake Steamship Company to James Barker (former CEO of Moore-McCormack) and Paul R. Tregurtha (former CFO of Moore-McCormack) in 1987. Pickands Mather continues to operate as a subsidiary of Cliffs Natural Resources into the 21st century.

Pickands Mather and Company was formed in 1883 by James Pickands, Samuel Mather, and Jay C. Morse. Pickands had risen to the rank of colonel in the 124th Ohio Volunteer Infantry during the American Civil War. In 1867, he moved to Marquette, Michigan, where he opened a hardware store selling tools and supplies to iron mining companies. He opened a fuel coal supply business three years later. He was elected mayor of Marquette in 1875, and five years later formed the Taylor Iron Co. (an iron mining concern) with Jay C. Morse. After Pickands' wife died in 1882, he moved to Cleveland. Jay C. Morse was a shipping agent for the Cleveland Iron Mining Company in Marquette. He invested widely in Michigan iron mines, and by 1882 was a wealthy man ready to form his own company. Samuel Mather was the son of Samuel Livingston Mather, founder of the Cleveland Iron Mining Company. While recuperating from a mining accident, he met and married Flora Stone, daughter of Cleveland industrialist and railroad magnate Amasa Stone. Determined to make his own fortune and impress his father-in-law, Mather sought out business partners. Pickands Mather and Company was formed in 1883, dealing in iron ore and pig iron, and mining iron ore from two mines in the Marquette Iron Range.