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MARINE REVIEW. 9 Recerd of Speed and Big Cargoes. [Masters or owners are invited to report improvements on this list. | Tron ore: Maritana, Minnesota Steamship Company of Cleveland 4,260 gross, or 4,771 net tons, Escanaba to South Chicago; Maryland, Inter-Ocean Transportation Company of Milwaukee, 3,663 gross, or 4,103 net tons, Escanaba to South Chicago, draft 17 feet 4 inches; Western Reserve, Peter Minch of Cleveland, 3,314 gross, or 3,717 net tons, Escanaba to Ashtabula. Grain: E.C. Pope, Eddy Bros. of Bay City, 125,730 bushels of corn, Chicago to Buffalo, draft 14 feet 8 inches; Western Reserve, Peter Minch of Cleveland, 112,431 bushels of wheat, Chicago to Buffalo; W. H. Gilcher,J. C. Gilchrist of Cleveland, 114,982 bushels of corn, Chicago to Buffalo. Speed: Owego, Union Line'of Buffalo, Buffalo to Chicago, 889 miles, 54 hours and 16 minutes, 16.4 miles an hour; Saranac, Lehigh Valley Line of Buffalo, Buffalo to Lime-Kilns, 240 miles, 15 hours and 10 minutes, 16 miles an hour. lron Mining. VALUE OF LEADING STOCKS. Quoted by Chas. H. Potter & Co., No. 104 Superior St. Cleveland, O. Stocks. Par Value. Bid. Asked. Cleveland--Cliffs Iron Company............... $100 00 Pere oct $ 70 00 Champion alronm Com patty 20... 5.ctcessetse ss 25 200% ake Ses 58 00 Chiandlereltron COM Patynsd set. sevecdsersseaee' 1 25-00 AA OO 9h ean Mi inini Haclesoaeltron COMPA ys... cc. seerseseccsssseve Dow OOns Aaa ae go 00 Lake Superior Iron Company..............06 BSVOOe es Ais) sone 43 00 Nerimesota Troi COMPaTy cis. 6iececetecectesaee 100 00 73 50 77 00 aaron nec emcee Amimelime: Tron: Co:.s..0. 25 O01). cssiciese 2 2 asnteeece Repmiblie lron -Compaity..-...-8:-;shss-usewe <- D5 OOM Gee pe eeectiss 13 25 PND pretense cima atta. acer soeesncuaste Seek valba 25h OOma bh ieelectduen: yal Seteetousos MEGMOmlGlitty PN GeC ss sccsyessccusse veces secse. DR EOO (ean a te 7 50 BIO METEOT st. swe ecns bet 5 Sachse oan etme 25 OO 200 2 50 Mite OTTNS Cliteccsas sais sate nucghs itvoks sdeesumtius anvieee 25 00 2 25 2 50 PASEO RAs eaietsteearce Cnict Ca seit os(,.st ooo Selo cau cussing eicand 25 00 Se Dh y cer masa Shipments of iron ore from Two Harbors up to and includ- ing Wednesday, August 24,ageregated 718,014 gross tons,of which 413,492 tons were from the Chandler, 301,178 tons from the Min- nesota, 2,265 tons from the Pioneer and 1,079 tons from the Zenith mine. On the same date shipments from Ashland ag- gregated 1,425,747 gross tons, divided among the different mines as follows: Ashland 119,561 tons, Aurora 203,535, Colby No. 2, 37,584, Rand 15,536, Tilden 154,200, Taylor 14,640, Globe- Ashland '5,309, Iron Belt 100,526, Montreal, south vein, 1,151, ' Montreal, north vein, 22,954, Palms 38,369, Section 33, south well, 2,202, ection 23, north vein, 3,133,.Ativil 1,696, Broth- exromos,251) Comet 20,572, Carey 22,324, Newport 71,705, Imperial 3,451, Norrie 276,254, East Norrie 133,866, Odanah 2,249, Pabst 34,615, Hureka 5,084, Sunday Lake 40,116, Wind- sor 16,663. Nobody who understands anything about the ore business believes that the Carnegie's or anybody else has contracted for large quantities of Bessemer ore fromthe Mesaba, to be delivered aboard vessel at Lake Superior ports next season at $2 ton. Admitted that there was a possibility of mining the ore and de- livering it at a shipping port at the price named, the producer would certainly not sell it for $1 a ton less than might readily be obtained for it. At this writing shipments from the Chandler mine are a little more than 500,000 tons. When this mine shipped 373,000 tons last year its record was considered wonderful. It is understood that not quite all of the Chandler's output has been sold, but the unsold portion of the ore is small and there is every assurance that the mine will make a better showing than any property in the Lake Superior region this season. A report regarding the mine of the Little Mesaba Iron Com- pany, one of the most promising of the new properties, says that one pit is 60 feet deep and bottomed in soapstone. Another is the same depth and 15 feet in ore. Three others are down to the iedge and bottomed in ore. Samples from the bottom of the deepest pit run 60 per cent. in iron and .003 in phosphorus. The ore is very similar to that of the Chandler. J. T. Jones, superintendent of the Hamilton mine, Menomi- nee range, is also looking after the development work of the Hamilton Ore Company on the Mesaba. He is employing about 100 men in stripping the Biwabik with the aid of a steam shovel taken from the Hamilton, and says that in 1894 this Mesaba range mine will ship more ore than any mine in the world. Mesaba Ore and Lake Vessel Business. There is no doubt now that development of the new Mesaba 'iron range of Minnesota has reached a stage where it will be necessary for lake vessel owners to keep a close account of everything pertaining to sales of iron ore during the coming fall and winter. Managers of all the mines on the older Lake Sup+ erior ranges realize the importance of railway and dock construc- tion work preparatory to shipments from the Mesaba, and their representatives have quitely visited the new district, some of them spending two or three weeks of investigation, with a view to handling the ore, or for the purpose of ascertaining the probable extent of shipments and their effect on the market next winter. Lower prices for all Lake superior ores and a general read- justment of the business seem inevitable as a result of present operations on the new range. No better evidence of this con- clusion is needed than the fact that stocks of the strongest companies on the older ranges are more depressed from day to day. This depression is certainly not due altogether to a sur- plus of production already coming from these older mines. It is due very largely to the prospect of the Mesaba producing good ore in large quantities much cheaper by means of surface work than it can now be mined through underground workings of the older ranges. It will be admitted that next to the Min- nesota the Lake Superior Iron Company, with its vessels, mineral lands and costly mining equipment is one of the strongest concerns in the Lake Superior region, and yet at this writing investors are, asked to make a bid of $40 per share for stock in the company. All through 1890 and 1891 this stock sold at an average of about $68. Shares in other companies are _ equally depressed, Reference is made to the Lake Superior for the reason that it is a regular dividend payer and has been in- creasing its ownership in floating property and mining equip- ment right along each year, It is evident then that the mining companies already in the business of producing ore are keeping a close watch on the new range, and vessel owners are warranted from present indications in doing likewise. Although it would not appear at first thought that the new mines with the prospects of increased shipments would be other than favorable to the transportation interests, new conditions will arise demanding attention. It is certain that leases have been made on the Mesaba requiring a minimum output next season of 1,500,000 tons ofore. Whether these leases will be fully carried out or not remains to be seen, but all reports from experienced mining men of Cleveland, as well as mine superintendents from the Marquette and Menomi- nee ranges, cenfirm first reports of good ore showing up in almost unlimited quantities. The Duluth & Iron Range Rail- way will be ready in 30 days to make first shipments over its Two Harbors docks from a branch constructed to the range, and new docks at West Superior will be ready to receive some ore before Oct. 1, so that sample cargoes of the ore at least will be brought to Lake Erie before the close of the present season. When it was said some years ago that there was 13,000,000 tons of ore in the depths of the big Chapin mine it was difficult to find anyone who would believe the statement. Mining men who are more competent to judge now than the projectors of the Chapin were at 'that time claim that there is 20,000,000 tons of ore in sight at the Biwabic the leading Mesaba property. 'The explorers of this new range have gone into a wilderness; a country so rough that it was impossible to secure the use of even a derrick or a pump in their work, and now that capital has been secured for the building of railways and the transportation of machinery to the lands where ore has been found in great quantities on the surface, it is not unreasonable to expect most wonderful results from the new district.