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MARINE, lron Mining. VALUE OF LEADING STOCKS. Quoted by Chas. H. Potter & Co., No. 104 Superior St. Cleveland, O. Stocks. Par Value. i Cleveland--Cliffs Iron Company.............. i ae oS ee Champion [ron Company....5...02.seacscak 25 00 ee 60 00 sunnier iron Company ->....20c3....1-s5c0. 25 00 42 00 45 00 feesom tron Compalry........,..ccecssissccec: DIS (CO Sees ory 100 00 Lake Superior Iron Company.............006 25 00 43, 00 45 50 Minmesota Iron Company... ........2.c0.ccs00 NOOIOONR. fe aan? 75 00 Pittsburgh & Lake Angeline Iron Co... D5 OOS ht arnt. 145 00 Ee puNMCLEOM COMPANY. .ts0:c0sscsdesesccnck Qh OOM ees 18 00 PNET Mee ete h ws certs ol TES cess PISO pies deen ASE R OH oes Ue Roe DoeulomeNurty threes reais c.s cs cece ck DEN OO se se reese eh. i 50 PP EO MMCMUO Meera ketinriAb che ce stas ee eats 25 00 2 00 2 50 ISOPEN Nacieteadetesl "sasiistik paitoed al Sessa ss 20s DOOR. © peter ists 2 50 PNM MA veviserewesiclcéau Vibe ce adocsarteceuinscsas Ste eee 25 00 ORD a Benes sen At Section Thirty-Three the management is about to begin work with a diamond drill in a crosscut made ata depth from the surface of about 630 feet. There is no ore-in the present bottom, and it is thought best to fully test the ground with the drill before resuming sinking of the shaft. A force of 200 men is at work stripping the Biwabic, lead- ing Mesaba property. Open or surface mining will be employed exclusively. There will be no underground shafts or drifts, at least not fora long time. "When we get to mining," says one of the managers of the company, "we shall makea cutting simi- lar to a railway cut into the ore body. In this cut we shall lay a standard gauge track and put in position a steam shovel. If we find the ore body to dense to be mined and loaded on cars directly by the shovel, we shall use black powder and loosen it up in lots of 3,000 to 4,000 tons."' Michigan papers announce that the new Huron Bay railway will be extended trom Champion to Ishpeming and Negaunee. Since Ferdinand Schlesinger regained control of the Chapin, the working force has been increased somewhat, and the daily product is reported above 2,500 tons with shipments close to 5,000 tons daily. The Chapin management is said to be figuring on securing a lease of the flooded Ludington. It is thought that the Chapin could relieve the mine of water and operate it more advantage- ously than the present owners. The Chandler management is said.to be figuring on a pur- chase of the Pioneer mine, which adjoins the Chandler property, and from which some ore was shipped during two or three sea- sons past. Rumor has it that a continuation of the Chandler vein has been found by the owners of the Pioneer. It seems strange that Pennsylvania capitalists should agree to pay big royalties on the new Mesaba, while the tendency among the producing companies of the older ranges is to demand a reduction of this charge on renewal of leases. At the annual meeting of the Pittsburgh and Lake Angeline Company in Cleveland, last week, it was decided to reduce the royalty on ore taken from the Mitchell mine. The Winthrop Iron Company is operating the Mitchell under a lease from the Lake Angeline company ata royalty of forty cents a ton. 'The greater portion of the output of the Winthrop company comes from its Micchell woitkings, and the ore has always found a ready market, but the general change in conditions surrounding the ore business de- mands a reduction in royalty. "The extent of the reduction has not as yet becn decided upon. Appropriations for 1893, as reported to the Canadian _parli- ment, include the folowing items for rivers and harbors in On- tario: 'T'renten harbor, dredging, locality providing $2,000, $3,000; Belleville harbor works, the local authorities furnishing $2,000, $3,000; Toronto harbor, works at eastern entrance, etc., the city of Toronto having contributed $100,000, $75,000; Owen Sound harbor, dredging, $15,000; Port Albert repairs to north pier and towards extension of piers and dredging, 8,000; God- erich harbor, drcdging, $15,000; Rainy river, 1mprovement to Long Sault rapids, additional amount required, $2,200; River Beaudette, improvement of river by cleaning out channel, $5,000; Port Rowan, wharf, $6,000; Midland harbor, dredging, $2,500; Penetanguishene, dredging, $2,500; Port Arthur, dredging, $5,000. The total amount for Ontario is $142,200. SS Sa > 2 a ~ Dredging at Green Bay harbor has increased the draft of water to fourteen feet. William H. McPherson, whose death is announced from Buffalo, was well known to vessel masters visiting that port. The steamer Progress, sunk at Mamajuda island, Detroit river, has been sold to the Detroit Dry Dock Company for $11,500. Shipments of anthracite coal from Buffalo to the end of June were 759,931 tons, against 812,290 tons last year. "Though shipments during June just past have been active, they were about 25,000 tons less than during June in 1891. Thomas M. Murphy, of Detroit, has purchased the schooner M. I. Wilcox, and will use her as a lighter in wrecking business. The Wilcox was built by Bailey, of Toledo, in 1868, is rated A2, and measures 359 tons. 'The consideration was $6,000. The schooner S. B. Pomeroy, which was burned on Lake Ontario last season and afterward raised by Baker Brothers, has just come from Dulac's yard at Mt. Clemens, where she was thoroughly rebuilt at an expense of $6,000.° She belongs to the Tonawanda Barge Line, and will join the Canisteo's tow. The United States marine hospital service has issued a cir- cular to medical officers and acting assistant surgeons in the dis- tricts of the great lakes and Ohio and Mississipi rivers instruct- ing them to vaccinate the beneficiaries of the service. The officers are directed to personally or through the detail of an assistant see that vessels arriving in port are looked after. Changes now being made at the Milwaukee Dry Dock Com- pany's south yard are calculated to make room for the introduc- tion of a plant for the construction and repair of steel vessels. A plant in connection with the dry docks of this company for the repair of steel vessels would not, of course, be very expens- ive, but the heavy cost of machinery and general facilities for constructing steel boats would seem to make that part of the proposition rather indefinite. Vessel masters and owners who have boats 2,000 tons and upwards, express surprise that the Big Four Railway, havinga costly plant for the shipment of soft coal from Cleveland, does not cause a little dredging to be done in its slip up the main river. This class of vessels will, of course, avoid loading at these docks whenever it is possible to do so, as the rapid work done at the dock is of little avail when only a partial load can be taken out of the slip, on account of the light draft of water. Captain McKay, of the passenger steamer Greyhound, who was charged in the United States court at Detroit with having passed a steamer going in the same direction through the St Clair canal, explained that the Greyhound had reached the upper end of the piers before attempting to pass the barge and it was _ nec- essary to increase the boat's speed at that time and place to keep her from sagging onto the cribwork at the head of the west pier. No testimony was presented for the prosecution and the hearing was postponed. Empire Transportation Company is the name of the corpor- ation owning the big steel steamer Gilbert, recently launched by Wheeler & Co. of West Bay City. The capital stock is $200,- 000, one-half of which is preferred, bearing semi-annual cumu- lative dividends of 6 per cent. per annum. 'Ten per cent. of the capital stock is paid in. 'The stockholders are Willis H. Gilbert, Saginaw, 160 shares; Augustus B. Wolvin, Duluth, 80 shares, and Granger A. Hollister, Rochester, 160 shares. The office of company will be at Wyandotte, Mich. Minneapolis, St. Paul & Buffalo Steamship Company is the name of the new corporation controlling the package freight whalebacks Washburn and Pillsbury. The officers are: Senator Washburn, president; Fred Underwood of the "Soo" road, vice- president; W. I. Martin, treasurer and H. L. Shute, traffic man- ager. R. B. Hebard is the general manager at Buffalo, and W. S. Braun general agent at Gladstone. Capt. T. McFarlane, for years a commander in the Lehigh Valley Line, will have com- mand of the Washburn, and Capt. Wm. Cavers, a well known vessel master on the lakes, is to command the Pillsbury.