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MARINE REVIEW. 7 Iron 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 $4500, abe cec: Champion lroneComipattyancccese mest one son 250055 ae aaenese ce 35 00 Chandler Iron Com patty seers en teens 25 00 40 00 41 00 jackson: (rons Comipailycesc.asevrestretes at DISS OO eet crastaen og seis CER eerie Lake Superior Iron Company................ 25 00 BE SOOH EE ad eee Minnesota Tron. Com patiy sce. s<cscevscsats str {00 00 67 00 69 00 Pittsburgh & Lake Angeline Iron Co... 215 OO Maimeri. 135 00 Republic Iron: Company wer. eros eos 25 00 KOZOO ates we seeatc PS VATU pees vai ceinsbwaw sues ethene ea en ee coe e 25s OO ae coca 9 00 Section Thirty-three........ Ree ettccs ceascae: D5 OOM caacres 4 00 BO LMETEO tens ses ene seivencies Esme natn Ses wanes 2 SOO saat creannu eee serene TOM SB el Ee earccrccesen in sence Faso ea savas ss 25 OO. eee Speers 2 00 ANITOLA cae conan ttanetene eee ae ee Nieaceen 25 00 8 00 9 00 Although the market for iron mining stocks continues dull and uninteresting, investors as well as ore dealers are of the opinion that when the time for sales comes around the furnace men will want a full supply and prices will not vary much from those of last winter. There is a great deal of ore on dock but stock piles at the furnaces will be very much reduced, on account of the inability of railways to move ore during the cold snap of the past few weeks. Among dividends announced is one of $2 from the Aurora, payable Feb. 28. The dividend of 50 cents a share, declared by the directors of the Republic at their annual meeting, will be paid on the 30th inst., and itis said on very good authority that the Lake Superior Company will pay $2 shortly. From the Chandler a regular dividend of $2 is expected on March 1. As a result of the closing down of the Great Western mine of Crystal Falls, owned by the Star Iron Company of Detroit, the Lincoln mine, which is connected with the Great Western by a drift, will of necessity be also allowed to fill with water. Stockholders of the Metropolitan Land and Iron Company controlling the Norrie mine met in Milwaukee last week and re- elected all of the old officers of the company. a George H. Green of New York, representing eastern capi- talists, is reported to have paid $75,000 for the Buckeye and Dia- mond properties, Mesaba range. Sales of Vessel Property. Following are some sales of vessel property reported within the past week: Schooner Melvin S. Bacon, E.R. Pelton of Ver- million to J. C. 'Gilchrist of Vermillion $15,o00;. schooner Thomas P. Sheldon, E. B. Hale of Cleveland to J. C. Gilchrist -of Vermillion $15,000; propeller Egyptian, Winslow estate of Cleveland to J. J. Ward of Chicago $48,000; schooner Celtic, Davidson Transportation Company of West Bay City to G. K. Jackson of same place $35,000; steamer T. D. Stimson, Simeon Cable of Chicago to James T. Mathews of Detroit $20.000; same boat, James IT'. Mathews of Detroit to J. Lonsby & Son of Mt. Clemens $27,500; steamer Nyack, Union Steamboat Company _of Buffalo to Capt. R. F. Parsons of Buffalo, $40,000; schooner B. W. Parker, State Transportation Company of Detroit to Prid- geon Navigation Company $68,000; ferry boat Sapho, Walker- ville and Detroit Ferry Company to Detroit, Belle Isle and Windsor Ferry Company of Detroit $20,000. 'The schooner Celtic, purchased from Capt. James Davidson by G. K. Jackson will tow behind the steamer D. Leuty. 'This is the fourth boat sold by Capt. Davidson within a few weeks. Capt. R. F. Parsons proposes to use the passenger steamer Nyack for world's fair excursions, taking passengers from Buffalo, Detroit, Cleveland and other lake ports to the fair and providing them with quar- ters aboard the boat while in Chicago. This scheme was sug- gested in the REVIEW some time ago. Two Important Meetings. Two meetings of interest in marine circles are now being held in Washington and Chicago. The supervising inspectors of steam vessels have been in session at the capital for several days past, and at the Sherman house, Chicago, Tuesday, the national association of marine engineers opened its annual meet- ing. There are no questions of special importance to come before either of these gatherings, although reports of their deliberations, which will be given out in a few days, will un- doub'edly prove interesting. Society of Naval Architects and Marine Engineers, In a letter thanking Tur Review for some suggestions relative to mem- bership from the lakes in the Society of Naval Architects and Marine Engi- neers, Secretary W. L. Capps of Washington says: "There is now an assured membership of more than 400, and there is every reason to believe that the society is an accomplished success. The majority of those who have applied for membership are men of great prominence in shipbuilding and engineering circles, and he general membership is thoroughly representative and national in character.' At present there is no official headquarters of the society, but it will be incorporated under the laws of the state of New York, with ultimate perma- nent head quarters in New York city. At present temporary headquarters will be with the secretary in Washington. The promoters of this organization are anxious that all prominent men connected with shipbuilding and shipping interests of the lakes shall become members, although some may have been overlooked in the distribution of in- vitations. Societies similar to this exist in England, Scotland, France and other European countries and their influence in the development of nayal architecture, marine engineering and allied professions have been felt in a mirked degree. The foreign societies include among the officers and members the foremost shipbuilders, engineers, ship owners, naval officers, members of Parliament and other public men interested in shipping. Many laws promo- ting the greater security of life at sea and the general improvement of ocean carriers were originated by these societies, and the present advanced state of knowledge in naval architecture and marine engineering is directly traceable to their proceedings and investigations. It is therefore believed that the time has come when members of similar professions in this country should organize themselves into a seciety "for the reading and discussion of appropriate papers and interchange of professional ideas, thus making it possible to com- bine the results of experience and research on the part of shipbuilders, marine engineers, naval officers, yachtsmen and those skilled in producing the mater- ial from which ships ure built and equipped."' Kindred institutions such as the American Society of Civil Engineers, Society of Mining Engineers, etc., have been vastly instrumental in develop- ing the natural interior resources of the country, and we now lead the world ' in our means of interior communication. But, with our vast seacoast and abundance of material from which ships are built, we occupy only the third or fourth place among the great maritime countries of the world. While the formation of a society of this kind must have in view principally the scientific and technical development of shipbuilding, there is no doubt that it will stim- ulate its actual growth by rousing popular as well as professional interest in a branch of industry which should be one of the most powerful factorsin our de- velopment as a nation. Lake Engineers Entitled to Positions on Ocean Steamers. WasuHineton, D. C., Jan. 26.--At Monday's meeting of the board of su- pervising inspectors the following resolution was passed: 'That Section 2, Rule 5, be amended by striking out so much of the third paragraph as relates to' the promotion of chief engineers of lake, bay and sound steamers to assistant engineers of ocean steamers, and that the following words be substituted under the head of first engineers, Section 2, Rule 5, to read as follows: "That engineers of lake, bay and sound steamers, who have actually per- formed the duties of engineers for a period of three years shall be entitled to examination for engineers of ocean steamers; applicant to be examined in the use of salt water, methods employed in regulating the density of the water in boilers, the application of the hydrometer in determining the density of sea water, and the principle of constructing the instrument, and shall be granted such grade as the examining inspectors may find him competent to fill." Trade Notes. The American three-masted schooner Cora H. Hansom, American screw steamer Cumbarland, British schooner Turban, British three-masted schooner Windermere, and Danish bark Jorgen J. Lotz, were recently classed by the American Shipmas- ters' Association, New York. At the Lake Erie Engineering Works, Buffalo, the largest lathe in the world is now engaged in finishing one of the two immense barbettes, or carriages for elevating guns, on two re- cently constructed government cruisers. These barbettes when finished will be 20 feet in diameter. "They are in quarter sec- tions, each weighing twenty tons. H. G. Trout & Co., Buffalo, N. Y., are building a fore and aft compound engine 21 and 42 inches by 36 inches stroke for the Grand Haven barge Mary A. McGregor, and Johnston Bros., Ferrysburg, Mich., are building a new boiler 12 by 12% feet for the same boat. She has been chartered by William Loutit, who has a contract for ore from Escanaba to Spring Lake, Mich. She will probably carry 1,000 tons when she comes out as a steam- barge.