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tron Mining. : VALUE OF LEADING STOCKS. A . Quoted by Chas. H. Potter & Co., No. 104 Superior St. <8 Stocks. Par Value. Bid. Asked. _ Cleveland Iron Mining Company............ $ 25 00 $1700 $1800 Champion Iron Company............. aan dees 25 00 go 00 100 00 Chandler Tron Conmipany..........ccsccci cs as ao”: 39 00 40 00 (Shicago and Minnesota Ore Company...... 100 00) eaveeseee 110 00 Iron Cliffs Iron Company......... Batty Co wieivens ~ 50 00 120 00 125 00 Jackson Iron Company...........00. BbsesseKd ves 25 00 go 00 100 00 Lake Superior Iron Company.............006 25 00 69 00 70 00 Minnesota Iron Company..............ccesceees 100 00 70 00 80 00 Pittsburg Lake Angeline Iron Co.......... 25 00 14S 60° Gaal Republic Iron Company..............ccseceeees 25 00 26 00 28 00 DAMIR ATIMAG 6.45 < 2.6.0 2cpeses eee .ne inhstivachsased 25 00 8 50 10 00 Everything pertaining to iron mining and iron mining stocks is still flat and uninteresting. With the mining com- panies loaded up with the paper of furnace men instead of cash— reams of it, as one agent remarked a day or two ago—it is reasonable to expect that the present conditions will rule for some time to come. i Dividends have been expected for some time from the Cleveland and Iron Cliffs mining companies, but there is no assurance of them as yet. The Republic Iron Com- pany is now engaged in paying another dividend. The Hope Mining Company takes the Glidden mine with excellent prospects ahead. The length of vein so far developed is 150 feet, having a width of twenty-seven feet. The main part of development is on section 27—canal land. The company also controls the north half of the north-east quarter of section 34, 43-32, adjoining, onto which the mine extends and has been opened up to a length of twenty-four feet. From Supt. O. C. Davidson it is learned that the company has about determined to lower the shaft, seventy-five or one-hundred feet. ‘The vein is well defined and the greater the development the greater the amount of ore shown.—Mining News. Stockholders of the Lake Superior Iron Company recently decided to issue new stock for the building of steel steamers. Rights to subscribe for new stock at par—one new share for each five old shares held December 26th, 1890—have sold at 434@5, and the lower price is quoted bid. The old certificates will be stamped with the fact that authorized capital is 72,000 shares instead of 60,000 shares as at present. Payments of new stock are $15 per share January 28th, $5 February 28th, and $5 March 28th. The subseription right will expire January 28th. The Champion Mining Company is doubling the capacity of its compressor plant. The present plant is workiug 45 drills, about 15 drills beyond its stated capacity. The new compressors are being manufactured by E. P. Allis & Co., of Milwaukee, after special designs. The air cylinders will be 28 x 48 inches, and the steam cylinders 36 x 48 inches and 4o x 48 inches. ‘They will be in operation by the opening of navigation. The Stone mine is a property in the new Mesabi range about which a great deal is being said of late. Preparations are being made for the construction of a branch railway from Mesabi station to the mine. ‘Three trenches dug recently are said to be in solid ore. The product is peculiar and is said to be a mix- ture of magnetic ore and hematite. The tools and appliances of the South Jackson mine have been removed to No. 7 pit of the Jackson. A fine new engine house had just been completed at the South Jackson when the mine shut down, and was partially equipped with boilers and machinery. It will be removed to the Jackson. Reports from all parts of the Lake Superior mining district and especially the Gogebic range are to the effect that mining forces are still being cut down. At only two or three mines have the entire torces been laid off. ‘The unfavorable outlook in the iron market is, of course, the cause of this depression. The Canadian Manufacturer says: The authorities of the town of Port Arthur, Ont., propose to bonus the first 50-ton iron blast furnace that may be erected there to the extent of $25,000 and to the first ore dock $15,000. THE ‘“MARINE REVIEW’ FOR ONE YEAR AND “ BEESON’S HAND BOOK’’—$2.50. MARINE REVIEW. Mr. Ledyard’s Canadian Ore. Mr. T. D. Ledyard, who is well known in connection with railway and mining interests in Canada, is said to have made a statement some time ago to the effect that Canadian Bessemer ores can be laid down in Cleveland at $3.90 a ton. ‘The Iron Trade Review, of this city, without attempting to show the cost of bringing Canadian ore of any kind to this city, said that Mr. Ledyard’s claim had not been proven. ‘There was no record of Canadian Bessemer ores being laid down in Cleveland at $3.90. In line with this same argument the MARINE REVIEW inciden- tally remarked, that several hundred tons of the ore Mr. Ledyard referred to—meaning Canadian ores in general coming here from Lake Ontario—had been lying on Cleveland docks for some years, it being impossible to use it on account of the large percentage of surphur contained in the ore. The remark was simply incidental to the controversy that had been going on, but Mr. Ledyard takes it up and says it is exceedingly unfair to con- demn all Canadian ores because some Ontario mines have too much sulphur. This is true enough, but to return to the answer, that no Canadian ore has been laid down in Cleveland at $3.90 a ton, it can be said that the practical use here in future of any ore from the district to which Mr. Ledyard refers is now further removed than it was a few years ago. The Cleveland Rolling Mill Company brought ore here from its Coe Hill mine and thought that with a high furnace they could do away with the sulphur but they failed after repeated efforts, and it is this ore that was referred to as remaining on dock. The Kingston and Pembroke mine, a property that was boomed to the limit in Wall street, has shipped some ore here during the past few seasons, but it is not probable that there will be any more of it received. American capital that supported this property and the railway in connection with it has been transferred to the new Ontario district at the head of Lake Superior. ‘There was no trouble with sulphur in the Kingston and Pembroke ore and it was very low in phosphorus, but the mining was ofa treacherous nature and the ore was very lean. Mr. Ledyard now claims that the ore ‘“‘on which he gave estimates” was from a new mine in the township of Belmont. It is understood that Mr. Ledyard is interested in the Belmont mine. He produces a summary of analyses of this Belmont ore, in which metallic iron from 55.240 to 70.326 is claimed, with phosphorus as low as .0056,sulphur less than .oor and no titanium. However true this may be, it is evident from costly experience in the past that iron men in this part of the country have little faith in the Ontario ore district for which Mr. Ledyard makes such great claims. ‘The only mine in the district that ever gave promise for a return on capital invested was the old Forsyth mine, and the ore was not a Bessemer. Another disadvantage, if the ore was to be had within any reasonable length of time, is the immense outlay that would be needed for docks and other handling facilities. There is not enough Canadian tonnage available at this time to bring more than 15,000 tons from the district referred to next season if the ore could be found. Iron Port of the World. ‘‘Rscanaba, the Iron Port of the World,’’ is the title of a pamphlet prepared by Walter R. Nursey, and published by the Calumet Printing House, of Escanaba, Mich. The work treats mainly of Escanaba’s enormous ore shipments during the past few years, and differs from the usual order of ‘‘boom’’ documents, inasmuch as it contains a great deal of important data relative to the iron business in general. Escanaba is the greatest iron ore shipping port in the world, the aggregate shipments in 1889 being 3,003,632 against 3,000,000 tons shipped from Bilbao, Spain. Escanaba’s shipments in 1890 were, in round numbers, 3,800,000 tons, and it is not probable, although the figures are not at hand, that there was an increase from the Spanish port last year. The comparisons for both years are based on lake shipments for but seven months, the open season from Escanaba, while the movement from the Spanish port continues throughout the entire year.