Tower agreed to allow a prospecting expedition on the Mesabi, and sent his son-in-law, R.H. Lee, and Professor Albert Huntington Chester of Hamilton College, along with Stone. None was satisfied with the results. In 1874, the party crossed into the Vermilion range, and discovered a large outcropping of iron ore. Satisfied that there was a large vein of ore available in that area, they reported back to Tower. At that time, Tower elected not to proceed with mining the area due to the enormous expense of prospecting, the logistical problems of mining the area and transporting the ore, and financial concerns over the recent Panic of 1873.