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iH Record of Speed and Big Cargoes. [Masters or owners are invited to report improvement on this list.) Iron ore: Lake Michigan—Maryland, Inter Oce Sioa 4 Marylan ‘i n. Tra Company, of Milwaukee, 3,322 gross, or 3,737 net onthe iecmane +0 South Chicago,draft 16 feet 6 inches; E. C. Pope, Dry. Dock Navigation Company of Detroit,3,221 gross, or 3,608 net tons, Escanaba to Ashtabula draft about od ae thes Superior—E. C. Pope, Dry Dock Navigation Compatty, of Detroit, 2,828 gross, or 3,167 net t i draft 14 feet 6 inches, ! . 3,167 net tons, Ashland to Lake Erie, Grain: E.C. Pope, Dry Dock Navigation Company of Detroi bushels of corn, draft 14 feet 8 inches; Western Reverie, Phtce Minew oF Cleveland, 112,317 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; E. C. Pope, Dry Dock Navigation Company of Detroit Sault Ste, Marie to Ashland, 22 hours and 38 minutes, or 15.4 miles an hour. Iron Mining. VALUE OF LEADING STOCKS. _. Quoted by Chas. H. Potter & Co., No. 104 Superior St. Stécks. Par Value. i s Cleveland=Cliffs Iron Company............. $100 00 gant php Champion Iron Company............sesseeeeee RONNIE As ateas eee 80 00 Chandler Iron Company...........csccccsessees 25 00 37 00 39 00 Chicago and Minnesota Ore Company...... 100 00 Ghvcscest 100 00 Jackson Iron Company.......0.sseceeseeesseeees Ba eens grea, Fone a 110 00 Lake Superior Iron Comipany..............06 25 00 BE O0 ec) agsscusats Minnesota Iron Company.......c..cseceseeees 100 00 7500.52! Widseais Pittsburg Lake Angeline Iron Co.......... 25 00 E52 SOl 4 sive teoens Republic Iron Comipany.........seeseeeeseees 25 00 25 00 27 00 Ashland 4.2...22.. Ly BALAN eeU Redd. sdacdiy Ahad BSG 20st Aid he 53 50 Section: Thirty-Three: os... si. siete eceeas. 25 00 10 00 II 50° BrothertOn. oi ..ccccensecaee. saves cwseneveveewevunver 25 00 2°25 2 75 Ashland shipments of the different Gogebic mines up to and including Wednesday, the 16th inst., were as follows: Ashland 190,445 tons, Aurora 64,182, Tilden, No. 2, 5,179, Tilden 23,044, | Montreal, south vein, 49,410, Palms 28,279, Section 33, Bessemer 30,056, Carey 66,341, Trezona 15,759, Germania 20,653, Iron Belt 1,506, Mount Hope 68,942, Norrie 213,610, East Norrie 95,393, Father Hennepin 14,582, Federal 929, Eureka 12,752, Pabst 71,187 Ruby 913, Sunday Lake 43,185, total 998,726 tons. IRON-ORE mining in the Lake Superior region must yield extraordinary large profits. The lake Angeline Company, par value of stock $25, pays a monthly dividend of $2 a share, nearly 100 per cent.a year. The Champion Iron Company’s stock, par $25, is quoted at $87.50. The Chandler Company, par $25, is quoted at $37 to $39. For the Jackson company’s stock, par $25, $90 is bid. ‘The Lake Superior, par $25, with $51 bid. The Lake Angeline, par $25, with $132.50 bid. These are very en- couraging figures to owners of southern Bessemer ore properties. —Manufacturer’s Record. The foregoing is evidently taken from the stock quotations printed by the MARINE REvIEw. It might be well to call the attention of the Record to the fact that these are the leading properties of the Lake Superior region and that the list selected includes néarly all of the dividend payers. Millions have been sunk in hundreds of other holes in the ground. From the Vermillion Iron Journal of Tower, Minn., it is learned that W. H. Stowell, T. B. Hoover, D. T. Adams, 12 Fh, Pressnell, J. B. Geggie and F. I. Tedford of Duluth are members ofa company recently organized with a capital of $100,000, to engage in the work of separating and concentrating magnetic ores. The company has purchased the Minnesota right of the Finney process and will shortly begin operations on both the Mesaba and Vermillion ranges. It is claimed that with the Fin- ney machines, now in operation in Welden N. Y., magnetic ores ofa grade below 50 per cent. in metallic iron can be brought up to 69 per cent. at a cost not exceeding 25 cents a ton. On Thursday last, the 17th inst , the Minnesota Iron Com- pany had shipped from ‘Two Harbors 395,814 gross tons of ore and the Chandler 270,642 tons. The Minnesota still holds a little more than 30,000 tons in stock but this will all be moved and the output will be as large as it is possible to make it. At the Chandler, however, work on the stock pile has been discontinued and only about 2,000 tons a day of ore raised from the mine will be shipped. Edmun C. Pechin, who is well known to the iron ore pro- ducers of Lake Superior,has an article in last week’s seer of a Engineering and Mining Journal of New York on the “Mining o Potsdam Brown Ores in Virginia.” The workitigs are all open cuts and Mr. Pechin says he uses the word “Mining” in his arti- cle simply for convenience sake. Quarryifig or digging would be’better words. At the Detroit mime the pumps have been taken out, to- gether with all machinery, pipes, etc., of any value. The mine will probably never be worked again,as no considerable amount of merchantable ore can be found. ‘There is undoubtedly ore on the forty acres south of the Detroit owned by the Cleveland Iron’ Mining Company,at least the late workings in the Detroit on the south side of the property indicated ore—Ishpeming Democrat. | The steam shovel ‘Iron King,” built by the Vulcan Iron Works of Toledo, O., and in use at Ishpeming is capable of handling from stock pile to cars 2,800 tons of hard or 3,800 tons of soft ore in ten hours. Explorers are numerous on the new Wisconsin range, west - from Hurley to Mineral lake in the Penokee hills. Some good finds are reported. English Insurance. Steel boats on the lakes with probably two or three excep- tions are now insured almost entirely in Lloyds of London. The visit of John J. Millbank, naval expert, to Cleveland in connec- tion with the raising of the Pontiac from the Sault river, will serve to show a part of the system followed when a loss is re-' ported to the institution known as Lloyds on any of the thous- ands of vessels in all parts of the world on which the English un- derwriters hold millionsin risks. An organization known as the salvage assoctation and holding charter under the highest English authority is supported mainly by the underwriters doing business at Lloyds, although it is in reality not a part of ‘the in- surance organization. This salvage association maintains a large army of clerks and correspondents and furnishes information of all kinds in connection with marine insurance. It lists also a large number of naval experts, who are recognized aS men capa- ble of going to any part of the world and, as agents for the un- derwriters, representing their interests when a loss occurs. Mr... Millbank is the senior officer in this line of work and has been engaged in it for twenty years past. The Pontiac, like all other lake vessels insured at Lloyds, was placed with the English underwriters through Johnson & Higgins, insurance brokers of Wall street, New York, who have connections in London,and who were instigative some time ago in bringing to the lakes some of the underwricers who, after a per- sonal investigation of lake vessels and the method of doing busi- ness here, have taken these risks and have probably found others among their associates willing to join them. ‘The New York brokers have also placed big fire risks in England, and through their plan of operations manage to evade state laws requiring a deposit with the state treasurers of security for policy holders. There is little fear of the insurance being all right as far as the vessel business of the lakes is concerned, however, and the En- glishmen have accordingly secured a big line of business on the best hulls, on account of low rates and a broad policy. One of the requirements in all policies is that the New York brokers be immediately notified in event of any loss to the vessels in- sured. In the case of the Pontiac, notification of her loss was cabled to London and posted at Lloyds. A meeting of the inter- ested underwriters followed this proceeding and they wired Mr. Millbank, who was then in New York, looking after another wrecked vessel, to take charge of their affairs with the owners, He was delayed in doing so, however, and made a trip to and from London before complying with the request of the under- writers. Mr. Millbank will probably advise the people at Lloyds on his return to England that their rates of insurance on the lakes are too low. He claims that the English policy covers more than the ordinary policy on the lakes and adds that a profit can not be made at present rates. 1 dn aes AS ede) al a