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MARINE REVIEW. 5 ~~ Committed to a Seaboard Canal Project. _ Oswego and the northwest—Duluth, Superior and other cities at the head of the lakes—are represented in force at the deep waterways con- vention, now in session at Detroit, and there is little doubt at this writing that the conventjon, in addition to endorsing the project for a twenty and twenty-one fgot channel throughout the lakes, will ask that a com- ‘mission of army enginers be appointed to consider the feasibility of a deep water outlet to the seaboard, and report on this great question which has attracted so much attention within the past year. The gathering in Detroit is one of the greatest of its kind ever held in this country. Full two hundred representatives of commercial organizations from St. Paul and Minneapolis to Albany answered to the roll call, and the delegates made up a most influential gathering ; a gathering that Congress is bound to recognize, even though it be for political reasons alone. With the opening of the convention Oswego presented fifteen dele- gates, who had brought with them an immense map,showing the lake re- gion entire with the proposed canal around Niagara Falls and also the Hu- ron-Ontario canal route. A canal from the lakes to tidewater is among the great aims of the-commercial interests of the northwest, and the Oswego enthusiasts foufid earnest supporters in the delegates from that section, who were greatly in the majority, every lake port, iron mining town or lumber district in Minnesota, Wisconsin or Michigan being represented - by one to four delegations in addition to the representatives at large from these states appointed by the governors. Governor Wynans of Michigan was one of the honorary delegates in attendance, and Ex-Senator Palmer was selected to preside over the gathering. The chairman sounded the key note to all deliberations of the assemblage when he declared that his interest in the convention was of a sentimental nature; there was noth- ing more selfish in it than in the case of the large number of lake ves- sel owners in attendance. They would make just as much money with shallow water as they would with deep water. Itis the citizens of this country, producers and consumers, he said, who are benefited by the en- largement of the waterways. Then followed the selection of vice-presi- dents, one from each of the organizations and states represented, and the appointment of a committee on resolutions, which was made up in the same way in accordance with the representation. It was after this routine had been disposed of. and the work of the committee to prepare resolutions and a memorial to Congress had begun that the northwestern “delegates showed a disposition favoring an outlet to the Atlantic. They were a controlling power in the convention. The chief business of the convention was the discussion of Gen. Poe’s report which is included below: On Jan. 20, 1891, Gen. O. M. Poe submitted to Gen, Thomas L. Casey, chief of army engineers, a report upon preliminary examination for aship canal twenty feet in depth and of’suitable width in the shallows of the connecting waters of the lakes between Chicago, Duluth and Buffalo. The report was in compliance with requirements of the river and harbor act of Sept. 19, 1890, and was presented to Congress by the secretary of war on Jan. 24, 1891. In this report Gen. Poe strongly recommends the adoption of atwenty and twenty-one foot channel, instead of a channel of a uniform depth of “twenty feet. Asa reason for this, he calls attention to the fact that in quiet waters a channel depth of twenty feet is navigable for vessels of a draft closely approximating that depth, but that in localities which are subject to heavy seas, or endangered by loose boulders, a twenty foot channel would at times be impracticable for vessels with a considerable Jess draft: Gen. Poe then proceeds to estimate the cost of a channel of a uniform depth of twenty feet, in accordance with the act calling for such an estimate, but he reports also upon the cost of a twenty and twenty-one foot channel. After dealing with all of the detail pertaining to the extent of dredging necessary in the different parts of the connecting rivers of the lakes where shallow water exists, the report presents the following summary of estimates : For a twenty foot channel as described at the respective localities: Removing two shoals near Round CE Var Ua Fao cnr yn $ 63,601.co Removing obstructions at Sailor's Encampmient...........-+ jsssese 417,250.00 Removing obstructions at foot of Lake Huron, Ist proposition 95,531.40 Dredging at St. Clair Flats........::::sscccseseeeeesssereetestssrenaseeeens 313,559.40 Dredging at Grosse Pointe Flats.......:.:ccccreesessse sessterettseeees 956,825.76 Dredging at mouth of Detroit river.......sccssesserscrreersereeserneees 532,317.60 Total for a twéhty-foot chanmel.........-:ssseereeereeeseeeeees $2,379,085.16 For a twenty and twenty-one foot channel: Removing two shoals near Round Island...........--+-sesseeererees $ 85,487.00 Removing obstructions at Sailor’s Encampment.........-+-. seaeees 556,333-00 Removing obstructions at foot of Lake Huron, Ist proposition 449,512.80 Dredging at St. Clair Flats.........ccccecseseeeeseceeseeseenneceesennneeecers 313,559-40 Dredging at Grosse Pointe Flats, .....-scssssesseeessserererreeee tenennees 956,825.76 Dredging at mouth of Detroit river......-..s:::+++ sesrereeeteneteerenes 977,350.00 Total for twenty and twenty-one-foot navigation....... $3,339,507-96 The report says in conclusion : “The latter estimate is the one recommended in case the work is un- dertaken, as surely it soon must be. I further recommend that the full depth be at once attained at each locality. To excavate to a less depth would involve going over the same area a second time, and with a reduced face, thus greatly increasing the cost. The cheapest way of obtaining results would be under appropriations applicable to the work generally, of sufficient amount to each grant to complete the channel at one or more of the localities. a “The order in which the improvements should be undertaken is, in my opinion, as follows: (1) Sailor’s Encampment. (2) St. Clair Flats. (3) Grosse Point Flats. (4) Mouth of Detroit river. (5) Foot of ake Huron. (6) Shoals near Round island. “But this order of work should be modified, if necessary, to suit the actual conditions when appropriations are made. For instance, if less than $200,000 be granted at one time, it might be advisable to apply a por- tion of it at once to the removal of the shoals near Round island. “Although the sum of $3,339,568 is a large one, yet the end to be gained by its expenditure is so important and so pressing as to fully justify its appropriation, even in one acts During the season of 1890 over 9,000,000 tons of freight passed through St. Mary’s river, and more than 22,000,090 tons through the water-way between Lakes Huronand Erie. The increase in the available depth of channels on the lakes from nine and a half feet in 1852 to sixteen feet in 1882 developed this commerce, and it is only reasonable to expect that a further increase of four feet will be followed by corresponding increase in the shipping. The results are most notable perhaps in the character of the vessels employed in the carrying trade. These have increased in size and seaworthiness until they form a fleet which has not its equal upon any inland waters on the; face of the globe. Of large capacity and great power, regardless of wind:-or weather, the steamers of the prevailing type bear their cargoes to and from ports a thousand miles apart, with the regularity and precision of railroad trains, each of them transporting at once more than ten ordinary freight trains, Surely such a commerce deserves every aid and encour- agement that can be extended to it. Give it channels practically naviga- ble upon a draft of twenty feet, and it needs no prophet to predict a won- derful growth, but only a prophet could foretell its degree. For nearly thirty-five years I have watched its increase, but neither I nor anyone else within my knowledge has been able to expand at the same rate. The wildest expectations of one year seem absurdly tame the next. 5 “For all the lakes and their communicating straits above Ontario, - channels of the character described can be secured at a cost which seems trivial in comparison with the end to be gained, and I venture to urge, so far as | may properly do so, early and sufficient action toward the end in- dicated’ lron 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 te reere $ 80 00 Champion Iron Company.....e-serrseereereeees 25 O02. 2 Macevance 75 00 Chandler Iron Company.....cccecccsceceesseees 25 00 42 00 45 00 Jackson Iron Company.....scsseeseseseseeereees PIGS alee eobecercrce 105 00 ake Superior Iron Company...........++++6 DS OO) OF tec eends UR deceguans Minnesota Iron COMpany......seersesesceeesees FOO. 00 2s he cceiends 81 00 Pittsburg Lake Angeline Iron Co... 25 OO saeeerere 145 00 Republic Iron Company......seeeereeeserees 25 00 25 00 26°00 ASH1Aanid. ...cccsvseresctererceaserns nararerevscasserss Oe OG Sts cessassne 1 a leeneneaes Section Thirty-three.......ccsccesssesesneeeeerens 25 00 ROGET RL oMactecnns Brotherton. .......secerseeee sap anahiny aeicuons ahae phos 25 00 Di OCs Ae tah Ss ose Chandler stock is still attracting most attention among the Lake Superior iron mining securities. It is quoted at $45 but there is little ifany of it that can be brought into the market with the present conditions of things. The company is thought to have nearly $1,000,000 in the treasury, including profit on sales of the past seasan, and a dividend is again talked of. “At the mine preparations are being made for the sinking of a fourth shaft, to be situated on the forty acres recently acquired. Quota- tions on stock of the Chicago & Minnesota Ore Company are dis- continued, for the reason that a control of the property has passed to the Minnesota Iron Company. The Minnesota company’s issue of stock is accordingly increased to $16,500,000. ‘The authorized capital is $20,000,000. All conditions favor an. ad- vance of about 50 cents a ton on ore to be sold this winter for next season’s delivery and it is, of course, reasonable to suppose that the market for stocks will improve with the announcement of sales