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Iron Mining. VALUE OF LEADING STOCKS. is ae _ Quoted by Chas. H. Potter & Co., No. 104 Superior St. Par Value. __ Bid. Asked. $ 25 00 $1500 $16 00 25 00 80 00 go 00 25 00 39 00 40 00 TOS CON 8 Sei okis 100 00 S000) et iiss 120 00 25 00 go 00 100 00 25 00 62 00 65 00 [ ] 100 00 = <68) 60 70 00 Pittsburg Lake Angeline Iron Co........... 25 00 _ 145 00 “150 00 Seale COni pan yin..c.i.s.. See ee 25 00 - 26 50 28 50 TB OTPATONE Ss. 0 cis 5. cadens cvedec cis ahha tude op BOG eae 5 00 Representatives of mining interests in the provinces of Que- bec and Ontario are greatly disturbed by the proposed mining acts which it is declared will be a death blow to mining business, especially if the 1royalty features are carried. The mining men of Quebec have petitioned the governor-general-in-council pray- ing for the disallowance of the act. The bill for Ontario has passed its second reading but was vigorously attacked in com- mittee and, as finally amended, differs materially from the or- iginal. It now provides that the price of mining lands in the districts of Algoma, Thunder bay, Rainy river, and that part of the Nipissing district lying north of the French river, Lake Nipissing and the Mattawa river, where the same are within 12 miles of a railway, shall be $4.50 per acre: other mining ~ lands to be $3 per acre; for mining lands lying south of the aforesaid lakes and rivers, within 12 miles of any railway, the price will be $3 -per acre! when situated elsewhere $2 per acre. To insure speedy development the royalty shall not be imposed upon silver or copper ores mined. until seven years from the date of the patent or lease, and for nickel ore four years are allowed before the royalty shall be imposed. Work on the Huron bay road is still in progress, but what the object of its projectors is still remains a mystery. It starts from the mine yard at Champion, has no depot grounds secured, has a dock that begins at the water’s edge, and where great labor and expense will be required so that vessels can be brought alongside. The new road is considerable of a mystery. There is nothing along its line of route to give it support, the timber having been pretty nearly all secured by lumbermen who have been operating in that region for several years past. The road has no connections with other lines, and the real object of its construction is not yet apparant. In time it will be known, and may cause considerable of a fluttering in railroad circles. ‘There is an object, of course, and it aims to accomplish considerable.—Iron Ore. The Mastodon mine is among the Menominee properties that has sold some ore, the amount being reportedat 20,000 tons, which just represents the stock pile accumulation of the winter. The Mansfield has 14,000 tons in stock. New companies are be- ing formed in this district, notwithstanding the dullness. The Buckeye Iron Mining Company, organized at Menominee under Michigan laws, will operate the Fisk mine, west of the Common- wealth mine, known also as the Noyes-Hallet exploration. H. G. Fisk, of Iron Mountain, is president, T. D. Rhodda of Mar- inette, vice president, and George Muchelson, of Marinette, sec- retary and treasurer. Josiah Pebblesand other gentlemen of Findlay, O., recently purchased 80 acres from the Sawyer-Good- man Company for $4,000 and have begun exploratory work. The Vermillion Iron Journal, of Tower, Minn., says that an important twenty years’ lease for mining purposes was filed in the office of the register of deeds there recently. The property is described as follows: An undivided one half of the north half of the southeast quarter of section 27, township 63, range 12. The lessor is James I’. Gregory and the lessee is Clarence Den- nis, both of Ashland, Wis. Gregory reserves a royalty of 20 cent per ton, and the lessee, Dennis, agrees to mine at least 10,- 000 tons a year, beginning in November, 1892. The property is said to be very valuable. Ore has been struck in the shaft of the North Pabst, Goge- bic range, ata depth of 475 feet. It comes in from the south; dips to the north and east. ‘Thisis the ore body that was struck by a diamond drill worked from the end of a 300 foot shaft. It was found to be 4o feet through. At the Germania, on the came range, the working force has been reduced about 25 per sent, MARINE REVIEW. pe. Capt. William Sedgwick, W. H. Rood, J. O. St. Clair and George St. Clair, all well known in connection with mining properties on the Menominee and Marquette ranges, have secured control of the Detroit mine, which was shut down a few weeks ago on account of a heavy expenditure of money .and a poor outlook in the market. ort Iron Ore, of Ishpeming reports 180,000 tons in stock at the four mines forming Schlesinger’s Negaunee group. ~The mines are being wrought with fullest vigor, all the men being given employment who. can be placed to advantage. Instructions from headquarters have been to mine all the ore possible, and thus to lessen the cost per ton to the lowest point. “ The Chapin has temporarily ‘ceased active mining at shafts A and A 1, in the extreme east end of the mine. ‘The product of the mine at present is about 1,000 tons per day but the daily shipments to Escanaba will be 2,000 tons, the remainder of this amount being taken from the stock pile. . It is again said that the Duluth and Iron Range Railway Company will build an extension to the Canadian border to meet the western extension of the Port Arthur, Duluth ‘and Western. Such a road would develop the eastern Vermillion and Canadian iron ranges. The Negaunce Herald quotes General Manager Kidder of the Champion assaying his company has on the dock at Lake Erie ports 60,000 tons of last year’s product unsold, and the mine managers are disposed to go slow. The Lake Superior company has a steam shovel that is cap- able of handing 1,000 tons a day from the stock pile, and anew one, of double the capacity, will be placed in operation shortly. The Negaunee has about 30,000 tons in stock, all of which, with the exception of a few hundred tons, is a good grade Bess- emer. fee More Wrecking Appliances. Working models of a new device for raising sunken or wrecked vesseis have recently been exhibited in New York and Washington. ‘The inventor claims that he can raise a vessel of three thousand tons in less than ten minutes time. The appara- tus consists of an iron sphere twenty feet in diameter and made perfectly air tight. From six to eight of these spheres are need- ed for the raising of a vessel of 3,000 tons burden. At the top of the of the sphere is an air. valve opening downward into the in- terior while at the bottom isa valve opening outward. The sphere has a capacity for containing 5,333 cubic feet of air and a liftin~ capacity of from 500 to 700 tons. The exterior shell is of ste one-quarter of an inch thick, braced latitudinally and longitudir ly. When in use water is pumped into the spheres and the: sunk over the wreck. Their course is guided by chains work: from derricks on the deck of the wrecking vessels. Outside is a heavy network of iron bracing enclosing the sphere like a jacket. At the bottom isa heavy iron chain, fastened to the outside bracing, and at the lower end of the chain is a strong double catch hook. A diver is sent down with each pontoon as it is lowered to the position needed, and by descending the ladder he is able to fix this catch hook on some part of the sunken ves- sel. The plan adopted by the managers of this new system, is to lower two spheres, one at the bow and the other at the stern of the vessel, on the side to which she is listed, and then pump out enough water, supplying the space with air, to right the vessel. Then the other spheres are lowered and placed in position, two at the bow, two at the stern, and two, four or more amidships, as may be needed. “Then the pumping apparatus is set at work on the wrecking tug, and it is claimed that the water in the pontoons can be forced out through the out- let at the bottom at the rate of forty barrels a minute, and that in eight minutes the sphere will be filled with air and be floating on the surface of the water. ‘he wrecked vessel is not raised above the water, but is brought near the surface. In this man- ner the vessel is towed to the nearest port and placed in dry dock,