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MARINE REVIE Published every Thursday at 418-19 Perry- Payne Bldg., by the Marine Review Pub. Go. VoL. XIX. CLEVELAND, O., MAY 11, 1899 Entered at Cleveland Postoffice as second class matter. No. 19 VERY LIGHT STOCKS OF ORE. ONLY 2,000,000 TONS ON LAKE ERIE DOCKS, AS AGAINST NEARLY DOUBLE THAT AMOUNT IN THE TWO PREVIOUS YEARS--ORE IS BEING CONSUMED AT THE RATE OF 15,000,000 TONS ANNUALLY. There was barely 2,000,000 tons of iron ore on Lake Erie docks on the first of the present month, as against nearly double that amount on the same date in the two previous years, and the dock figures prove conclu- sively that the present rate of ore consumption is in excess of most esti- mates of production for the coming season. Official reports from Lake Erie dock managers, supplemented by conservative estimates as to the consumption of ore that went to the Federal Steel Co. and other interests on Lake Michigan, show that the entire consumption of Lake Superior ores during the year ending with the first of the present month was some- thing in excess of 14,000,000 tons, which figure represents the total pro- duction of 1898. The rate of consumption now, which is in excess of all previous records in the history of the industry, is certainly 15,000,000 tons annually, and this with many restrictions attending production in the min- ing region and with the navigation season nearly a month late in opening. Reports from all Lake Erie ports to the Marine Review show that stocks on dock May 1 aggregated only 2,073,254 gross tons, against 3,167,- 915 tons on the same date in 1898 and 3,256,497 tons in 1897. A remarkable feature of this short supply on dock is that it is left over from a produc- tion of full 14,000,000 tons in 1898, as against only 12,000,000 tons in round numbers produced in 1897 and less than 10,000,000 tons in 1896. It is reasonable to suppose also that stocks in furnace yards are proportionately reduced, so that the new year starts in with a general cleaning up of sup- plies. Two million tons on Lake Erie docks is a small item, as much of it is ore that has remained on the docks for years and that would be re- garded as almost worthless, except in times like the present. The heavy consumption is best shown by shipments from Lake Erie docks for the full year ended May 1, which aggregated 12,122,982 tons, against 10,209,488 tons during the year ended May 1, 1898, and only 6,719,633 tons during the year ended May 1, 1897. Add to the consumption from Lake Erie docks the ore that has been used at Chicago and other places and the total con- sumption for the year just at an end would undoubtedly be found to exceed 14,000,000 tons. At the close of navigation on Dec. 1, 1898, the stocks on Lake Erie docks amounted to 5,136,407 tons. If we deduct from this 2,078,254 tons the amount now on dock, we find that shipments to furnaces from Lake Erie ports during the past winter amounted to 3,063,153 tons, which, added to 9,059,829 tons, the amount shipped to furnaces during the season of navi- gation in 1898, gives 12,122,982 tons as the entire consumption of ore from Lake Erie docks during the year ending May 1, 1899. The following tables give full details of stocks and shipments to furnaces for several years past: IRON ORE ON LAKE ERIE DOCKS--GROSS TONS. Opening of Navigation. Close of Navigation. Ports. May 1, 1899.|May 1, 1898.) May 1, 1897. || Dec. 1, 1898.| Dee. 1, 1897.| Dec. 1, 1896. Moledosts ne. 22,915 71,726 66,337 146,568 194,644 115,959 Sandusky........... 7,086 48,800 3939 48,500 84,786 59,491 in Tonpeese ea 82,055 143,170 162,292 139,982 230,029 200,075 Woreineeeee ene 168,646 158,797 180,605 324,034 317,509 231,288 Cleveland............ 472,946 853,776 979,703 1,175,970 1,478,355 1,419,311 HMainpontesssss sins. 289,417 501,592 480,984 719,794 825,312 773,905 Ashtabula. ......... 855,691 1,031,441 926.865 1,732,671 1,835,694 1,441,666 Conneaut............ 6,115 ,047 207,034 288,101 360,895 275,800 ATIC. testes. te 95,626 236,485 153,261 439,167 484 871 355,222 IB Tift al] Oneneeee meee 72,757 53,081 50,477 121,620 111,660 82,267 Totals. he 2,073,254 8,167,915 3,256,497 5,136,407 5,923,755 4,954,984 IRON ORE ON LAKE ERIE DOOKS, MAY 1 OF HACH YEAR FOR TEN YEARS PAST. Year. Gross tons. Year. Gross tons. 936,228 IRON ORE SHIPMENTS, LAKE ERIE PORTS TO FURNAOES, FULL YEARS. Year ending Gross tons. | Year ending Gross tons. Mayall 1800 t se eater Kec oss 12,122,982 May 1, 1896 re des acuak cake caiderach wi tee eee 305, Mavelel SOS tec ps oe ee 10,209,488 Vis yep LOOD cececseen streak te Cosson eecesercs 6,296,215 May 1897 ee eek cil See re 6,719,633 VISIVRIRAL SOS Se TEs Sees ess 4,870,488 IRON ORE SHIPMENTS, LAKE ERIE PORTS TO FURNACES, DURING WINTER ; PERIOD, DEC. 1 TO MAY 1, Gross tons. Winter of Gross tons. Bids were opened, a few days ago, by Maj. Henry M. Adams, United States engineer at New York, for a big job of harbor dredging in the Bay Ridge and Red Flook channels. The lowest price, submitted by the Morris & Cummings Dredging Co. of New York, was a fraction over 15 cents per cubic yard. The totals were as follows: American Dredg- ing Co., Philadelphia, $3,600,000; W. H. Beard Dredging Co. New York, $4,590,000; R. G. Packard Co., New York, $6,000,000; W. H. Beard Dredging Co., New York, $3,015,000; Morris & Cummings Dredg- ing Co. New York, $2,727,000; Morris & Cumings Dredging Co., $4,392,000; P. Sanford Ross (Inc.), Jersey City, $3,150,000. THE SHIP OWNER HAS HIS TURN. The individual vessel owner, so-called on account of the drift of ships on the great lakes into the hands of big steel and iron combinations, may have only a few more years of struggle with the management of vessel property, but whether this is so or not he seems to have at least one sea- son before him that will prove highly profitable if he has managed to es- cape the misfortune of low contracts. Freights are advancing above con- tract figures almost before the fleet is entirely in motion. The blockade _at Buffalo elevators, due to the labor difficulties that have just been settled, was a factor in the upward tendency of the market, but conditions aside _ from this have worked to the advantage of the ship. The delay in opening navigation has proven far more important in the matter of freights than was expected. On May 1, a year ago, nearly a million tons of freight had been moved to and from Lake Superior while the business of the canal upto May 1 of this year amounted to practically nothing. The Lake Superior fleet is, in fact, only now fairly under way. Added to this comes a summary of stocks of ore on Lake Erie docks, which proves conclu- sively that not only has last year's output of 14,000,000 gross tons been en- tirely consumed with a marked reduction of old stocks, but the furnaces and mills using Lake Superior ore are putting it into steel and pig iron at a rate of full 15,000,000 tons annually. This means, of course, that every effort will be strained in the Lake Superior region to get out the last ton that it is possible to produce. And so the vessel owner who has ships free of contracts refuses to accept anything in the way of advance en- gagements. He has high notions and is not backward about expressing them. For this he is criticized by some of the shippers, who say there is another day coming and he has not long to live anyhow. He answers that he had that day not long ago with 20-cent coal and 50-cent ore on long voyages to and from Lake Superior; that little mercy was shown him and that it is his turn now, even if he has' only a year or two to stay in the business. The principal advance is in rates on coal from Lake Erie ports to Lake Michigan, which have gone up to 40 cents, or double the rate in force at this time a year ago. Some complaint is heard among the vessel owners about a lack of ef- fort in Buffalo to secure the adoption of a coal bill of lading, formulated recently by the Lake Carriers' Association. As far as can be learned, the new form of bill of lading is being generally adopted in the soft coal trade, with no particular objection on the part of the coal shippers. It is stated in fact, that there is absolutely no soft coal being shipped under any bill of lading other than that adopted by the lake carriers. CARNEGIE REORGANIZATION. The reorganization of the Carnegie Steel Co., so as to take in all of its collateral and auxiliary interests, including the Frick Coke Co., Oliver Mining Co. and Pittsburg, Bessemer & Lake Erie Railroad, overshadows all other undertakings in industrial lines that have startled the country of late, but as might have been expected from the vague and uncertain tone of dispatches that filled the daily newspapers during two weeks past, is now fully understood that there is absolutely no foundation for the stories of a billion dollar combination, to include the Federal Steel Co., American Steel & Wire and other big organizations. It would not be sur- prising to learn, after the reorganization of the Carnegie interests is ef- fected, that men now in control of the National Steel Co., will also be represented in the new consolidation. This lends interest to the proba- bility of the National company being eventually absorbed, and it is also thought that the so-called Rockefeller party may have considerable to do with the financing of the new organization, which might lead to Rocke- feller mines and ships being included instead of operating as_they are now under leases and cortracts. But speculation on this score is simply prompted by the fact that leaders in the National Steel and Rockefeller companies are closer and more in harmony with the Carnegie interests than the Federal Steel Co. or American Steel & Wire, which have prob- ably taken no part whatever in the present negotiations. As nothing official has as yet been given out regarding capital of the reorganized Carnegie company, or the price to be paid to Mr. Car- negie upon his retirement, the figures quoted from New York and Pitts-. burg are regarded as entirely speculative. It is more than probable, how- ever, that the capital will be greater than that of any industrial as yet heard of in this country, as the Oliver Mining Co. controls Lake Superior properties capable of producing 4,000,000 gross tons of iron ore annually, while the Frick company has practically a monopoly of the coke industry, and the scope of the Carnegie mills and furnaces is greater than that of any similar institution in the world. 2 Arthur H. Hawgood and others of Cleveland have contracted with the Craig Ship Building Co. of Toledo for a steel steamer of Welland canal size, to be finished about Nov. 1. The Craig company is just com- pleting for Miller, Bull & Knowlton of New York a steamer of Welland canal size and they have another under way for the same firm, both of which will go to the Atlantic coast immediately upon completion. The steamer just contracted for will also be fitted for salt water service, but will probably not go down to the coast until the spring of 1900 when it is expected the St. Lawrence canals will be completed, and when another similar vessel, now nearing completion at Lorain for W. A. Hawgood, brother of Arthur Hawgood, will aso leave the lakes. The steamer build- ing at Lorain will be launched Saturday and will be christened Eureka, which is also the name of the transportation company that owns her. Admiral Farragut's famous flagship, the Hartford, which has re- cently been refitted, has been assigned by the navy department to the service of training naval apprentices on the Pacific coast.