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MARINE REVIEW. ae Iron Mining. z VALUE OF LEADING STOCKS, Quoted by Chas. H. Potter & Co.; No. 104 Superior St. Cleveland, O. Stocks.- Par Value. i s Cleveland-Cliffs Iron Company.............. $100 oo oe Pee sc Champion Iron' Comipany...-.32...-.cisselcn Die OO. en ete ee sot 70 00 mangle Iron. Compaity. ciiecGiecssisccser 25 00 47 50 49 50 vackson Irom 'Company: .;.sicdcsssisess vxaedeee BISEOO Is. jale tales cca 105 0O Lake Superior Iron Company................ Bi One 3h sage cdighins roc hore tens Mrnnesota Tron Comipatty.....sscis..se0 52s: 04 100 00 78 00 82 00 Pittsburg Lake Angeline Iron Co.......... 25 00 I50 00 175 0O Republic Tron@Comipany..:,.cccccccessivee.., 25 00 22 00 23 50 EMS MLGL Ac Uewb ir ttndedbat pie dah. t db ai teate ds eek PE OORT tee eee 52 50 Seminar) bitty thtee. x. ive. sdveciess teres cavea, DE wOOn Poh Sean Bete 8 00 GOCE tOne scout e ttc as ee peace ee, car 25 00 2 00 Bat alS Mpa nial ellitseter. esas sccd acces usec. aks ee ee 25 00 2 40 275 When the Gogebic iron range was introduced to the invest- ment publica few years ago, some of the leading promoters of the boom were in Cleveland. - A few houses in Milwaukee and Cleveland, were in fact,headquarters for floating the stock. In the present excitement at Duluth over the Mesaba discoveries the Cleveland and Milwaukee investors have been replaced by south- ern men and boomers from St. Paul, Minneapolis and Duluth, but notwithstanding the conservatism shown in this regard by parties interested in the old ranges, it must be admitted that excitement in the Mesaba has had the effect of depressing to some extent the dividend paying mining stacks. 'The market, already dull on account of a poor outlook in pig iron, has seen few transfers of stocks for several days past, although prices have been reduced a little in some cases. It is the general opinion that the limit has been reached in the Mesaba craze. With an incorporation fee of about $6,000 to the million, the state of Minnesota has added about $900,000 to its treasury through the organization of new companies on the Mesaba capital- ized at about $150,000, 000. ' The Champion Iron Company hasa larger stock of No. 1 ore on the surtace than at any other corresponding time in its history. In another part of this issue will be found an account of the begining of the work of unwatering Lake Angeline. Stage of Water at St. Mary's Falls Canal. A letter from Superintendent Martin Lynch of St. Mary's Falls canal says there has been no change in the stage of water below the canal for sixty days. The availabledepth is 14 feet 3 inches. Mr Lynch advances the opinion that the canal will open about April 25 with 14 feet of water. That the draft of water permitted in the canal will be little if any more than. 14 feet, there is now little doubt. This is a trifle lower than the water at this time a year ago and fully a foot lower than at the. opening of navigation in 1890. ~. Reports From the Bureau of Navigation. -- Just 61 per cent. of the steam vessels of 1,000 to 2,500 tons in the en- tire merchant marine of the United States are owned on the great lakes, The bureau of statistics, of the treasury department, has jnst issued in the volume "Commerce and Navigation for 1891," the statistical portion of the report of the commissioner of navigation for the fiscal year ending June 30, 1891. It is fortunate that this data has been preserved, although the report of the commissioner as a whole was suppressed by Secre- tary Foster. The statistics deal with ship building and the tonnage of different custom districts in a very complete manner. Not only are the lakes now far in advance of all other sections of the country in the owner- ship of large steam vessels but the number of this class of vessels keeps increasing ata wonderful rate, as shown in the following table. STEAM VESSELS OF 1,000 TO 2,500 TONS. June 30, 1891. || June: 30, 1890. Increase. Pree bP: No.|Gross tons||No.|Gross tons||No.|Gross tons eater se ee) a pete ee 310° : :786.85 || 38 | 73,000 73 Northern Lakes.........+2+:++0+ 310 512,787.58 ||272 1439.7 5 Rduntic and Gulf coasts...../164 |250,732 26 |/157 |237,105.68 7 13,626.58 Pacific CoaSt......s.ceeeeeeeee eee 28 42,312.54 28 cette Sia ee Western rivers.........eseeeeeee 21 | 26,706.04 oa 28,588.24 ee 1,882 20 : SAT os aeh nine seen 523 832,538.42 478 1748,481.59 " 46 | 84,056.83 Decrease, To the total of 4,684,758.94 gross tons inthe merchant marine of the country the lakes contribute 1,154,870.38 tons although the number of ves- sels onthe lakes is only 3,600 of a total of 23,899 in the entire country. Here are the figures in this regard: MERCHANT MARINE OF THE UNITED STATES. Steam vesseis. Sail and unrigged. Total all classes. DISTRICTS. = No. | Gross tons. No. | Gross tons. No. | Gross tons. Northern lakes........... 1,592). 736,751.53 2,008 418,118.85 3,600 1,154,870.38 Atlantic & Gulf coasts} 2,937 886,375.34 14,629 1,894,307.93 17,564| = 2,780,683.27 Pacific COAN Iiseccsuataet 57é 187,429.26 880 258,428.48 1,458 440,857.74 Western rivers...........| 1,11] 205,707.69 166 102,639.86 Meares 308,347.55 Grand total...:....... 6,21 2,016,263.82 17,683 2,668,495,12 23,899 4,684,758.94 In the building of vessels for five years past the lakes have averaged nearly 100,000 tons a year and the aggregate each year is but little below the output of the entire seaboard. Following is the statement for five years by districts: SHIP BUILDING IN THE UNITED STATES FOR FIVE YEARS PAST. os w = 3 7 na. sie | ; - : leas gent Ss z= ae | --& os | Total Year ending June 30-- o'r "ag Sace 28 ae: Got iswateas eds clue o o |O a 2 6 A } - oO | | Gross | Gross | Gross Gross Gross | tons. tons. | tons. tons. tons. | TS OM eorisce steaddeh deltoie te ehshied 56,488 24,035 | . 10,901 83,061 150,450 LOGS spite yates Sige «nish IOI, 103 33,813 | 11,859 105,125 218,087 TOO ear. ett iiesy wees. 107,080 20,953, |) 12,202 111,852 231,134 TOO es cs sets seetanies cesar ants ~ 108,526 78,577 | 16,506 169,091 294,123 MOO lite steers rer sae ssceecs 111,856 105,491 | 19,984 237,462 369,302 Grand total......:.... | 485,053 281,899 | 71,452 706,591 | 1,263,096 With the year ending June 30, 1891, seventy-six steel and iron vessels of 105,618.16 gross tons were built in this country, and 55 per cent. of this tonnage, or 57,988,51 gross tons, came from lake ship yards. In the fol- lowing table, relating to new steel and iron tonnage, the boats are credited to the ports from which they hail: -- STERL AND IRON VESSELS BUILT IN 1891. : : TONNAGE. PORTS. No. ae aie tis -GROSS. NET. | Buffalo, IN. Wien t i ecestes sevesnercerseese ie ay 2,211.90 1,762.27 Cleveland, Ohio...........0.0.:...ceee eee | 14 26,523.27 21,110.44 AGO elo a MnO Aees. ssste ae creer tee sik. oe 3,004.75 2,366.34 WEEGOIT, VINCI cree caisncngers-rerneseetsnene hee 5,056.38 3,950.43 Bort buco, Wichs = net eer erere bee 7,452.02 5,909.45 Marquette, Mich........:...seeceneenees ees 6,328.45 5:492.16 @hiieag Gall cies -sceves p> Morea crannies! 2 4,863.42 3,934.06 ATS) tai letcastu ye onshore teeter teatsiecielaies Sere ataiy ee 2,548.32 2,239.05 INIGIWeY Oiluke Nie Mince acest cosecinesisseriey aes ee i 1,495.80 aia pais ee nes caneirs teenies eee cg (eom 36,673.37 25,032.34 Wilmington, Deli... ivrtces.scoesases nay, 7,078,07 4,854-72 Balla r ese VU ese -emacacs ons cient se. a | I 118.64 59.32 Newport News, Vaiew......-sseceeseeeeees |. 2 260.32 130.16 | Savenninnlne (Gey conbotodestannsposnatogsanor aa * 354.88 241.76 TIA UICTUS) LOW ac. sse os eoaeeraemdeanedels cis ees 1,023.18 1,010.68 Prttsburol;: Pals .c, sci. ieceraphlvanene sus Reel 341.46 240.06 BR Od rile Allg OGUS: fet casee «niceties deine | 76 105,618. 16 79,885.04 Ty OLUSater a. tance berate. om | 35 57,998.51 46,820.20 Seaboard and friversi........0-6. | AI 47,6029 65 | 33,064.84 The following table shows vessels of all kinds, wood and metal, built in the different districts during the fiscal year ending June 30, 1891: VESSELS OF ALI, KINDS BUILT IN I89I. 1] 1] 5 . 1 | gag < || Steam Vessels. | Sail and unrigged.|| Total all classes. | || DISTRICTS. BE ea eee | ---- | No. | Grosstons. || No. | Gross tons. || No. | Gross tons. i -- od) eae Northern lakes 0.0... 193} 93,323.41 || 81] 18,583.04 || 204] 111,856.45 Atlantie and Gulf coasts 216 67,073.67 728 151,318.79 944 218,392.46 Pace coast acco}. -cce, 54 9,166.51 || -68 9,903.33 || 122 19,069.84 Western rivers..:............... 95 15,473.23 | 19 4,510,31 || 114 19,983.54 oe eee eS eee see -- |] ee A E epee ae 185,036.82 ] 896 184,265.47 || 1,384] 369,302,29 Grand: topal....c.3.scaise.. 488