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EOL sures Mansfield, 25,754; ‘will. be paid about Jan. 1.:’ MARINE REVIEW... ss ._ 5 TR NFER TY Iron Mining. “VALUE OF LEADING STOCKS. : “Quoted by Chas. H. Potter & Co., No. 104 Superior St. Cleveland, O. / $tétks. asker Par Value. Bid. -* ‘Asked, - Cleveland-Cliffs Iron Company.............. PICO 0 7 Pie, 80 00 . Champion Iron Company.............. flevévsu BERGO Ie divvecane 75 00 _ Chandler Iron Company........ agiansdedicuass BN a deen p ess: <b seve epee Jackson Iron Company.........s.s000 GN tue sncc 32, ORES PR AS 105 00 ~ Lake Superior Iron Company..............0. BROOG to Paivein ow titveees * Minnesota Iron Company....... WidasveuteWeoves POS HOO. 2 Bios 81 00 += Pittsburg Lake Angeline Iron Co.......... 25 00 © sessvenes 145 00 , Republic Iron Company.............ssseecese 25 00 24 00 25 50 PVSHMARIU fcsiig Cob successes sacucse4s ox wis susiesiwersives De OO io seisandivy 3s sueespeins Se OO AIOE HIE LY “LIT OE vo hecscccssveesesncessasvesees "25 00 BOO A inieves Brotherton....... Ty Patil Ee 25 00 BOO Cavedeves ee ceteht : handler iron stock may expect a dividend of $1 a share. ina few days, but as far as can be learned none of the other companies contemplate any division of profits with the new year. Neither is it known whether the Chandler company Holders of C intends to continue dividends from its surplus or simply pay the single dollar. Secretary Pickands, of Chicago, says in a letter to one of the stockolders that “although the directors have taken no.definite action, it is very probable that adividend of $1 ashare A. meeting of the Lake Superior Iron Company was held in Boston Tuesday for the purpose of increasing its capital stock, on account of the contract for two more steel steamers, upon which work has already been started in Cleveland. The meeting was not of importance, as its actions were little more than a ratification for plans already outlined by the directors. Some time ago the Lake Superior management intended to arrange for the control of docks at Lake Erie ports for the handling and storage of ore, after the method adopted by the Minnesota and other companies, but this plan has been abandoned, largely for the reason that the purchasers of ore are’ ‘better satisfied when dictating how it shall be shipped. Messrs. M. A. Bradley and Henry DPD. Coffinberry, who represent extensive lake shipping interests in Cleveland, were in in Duluth last week and visited some of the new properties of the ‘Vermillion range. They have been engaged for some time past in investigation regarding new mines on both the Vermillion and Mesaba range and may become interested in them. Mr. Bradley says the owners ofthe Mesaba range pro- perties are predicting a boom for the range equal to that attend- ing the opening of the Gogebic. The Duluth & Winnipeg Rail- way will build a branch to the range immediately and a contract for construction of the new Duluth, Mesaba & Northern road was let last week. ‘A town is about to be built near the Cincin- nati and Biwabik mines, two of the most promising on the range, and options for exploring purposes are held at prices ranging from $5,000 to $25,000. Samples show high grade ore in all cases but there is still a great deal of doubt about its general clean- liness. sehen : Escanaba ore shipments for the season foot up, according to a report from Mr. H. A. Barr, superintendent of the docks, 3,052,813 tons and were divided among the different mines as tollows: Marquette range—Angeline, 59,643; Barnum, 10,651; - Buffalo, 333,726; Cambria, 24,793; Champion, 3,747; Cleveland, 104,963; Cliffs Shaft, 109,990 ; ‘Cheshire,7,106 ; E. New York, 36,001; Foster, 3,072; Grand Rapids, 3,032; Jackson, 73,085; Lillie, 4,271; Lucy, 12,664; Marquette, 3,561; Michigamme, 8,584; Negaunee, 30,348; Prout, 4,412; Salisbury, 69,234; Superior, 195,369 ; Voluntéer, 35,321; Winthrop, 19,924. Menominee range—Aragon, 62.700; Chapin, 428,504; Commonwealth, 133,- 180; Cyclops, 55,769: Dunn, 161,932; Great Western 60,936; Florence, 48,807; Half & Half, 67; Hollister, 1,057; Hamilton. 12,553; Heinlock, 11,610; Millie, 5,907; Iron River, 6, 169; Monitor, 26,226; Mastodon, 45,370; Nanaimo, 11,472; Norway, 4,090; Paint River, 38,146; Pewabic, 64,507; Perkins, 110; Shafer, 70,470; Sheridan, 6,150; Vulcan, 134,632; Walpole, 1,873; Youngstown, 3,705 ; Lincoln, 1,814. Gogebic range—Brotherton, 33,614; Cary, 9,442; Norrie, 337,608; Pabst, 41,507; Newport, 1,526. By an exchange of stocks the Chicago’ & Northwestern Biles Company seas acquired control of the Milwaukee, Lake Shore & Western. This gives the Vanderbilts. about 750 miles of additional railway in Wisconsin and the upper peninsula of Michigan. Although relations between the consolidated roads have been very close for a long time past, announcements of this kind can hardly be agreeable to the mining interests of the Lake Superior district, It is only a few months ago that the north- western took up the new Schlesinger road and the St Paul system had previously acquired the Milwaukee & Northern. ‘The hope of reduced rail rates between mines and shipping ports is evid- ently drifting away from the mine owners with each succeeding ~ winter. Corrigan Ives & Co., of Cleveland, holding a mortgage against the property of the Republic Reduction Company, bought the plant at sheriff’s sale in Republic last week. The reduction company carried on operations for atime under a lease and in connection with certain rights from the Republic mining company.- Mr. James Corrigan says the plant will ‘be operated next year if prices in the iron market warrant it. iy Shipments from the Norrie mine for 1891, foot up 765,136 tons and from the Pabst 130,226, making a total output for the ' Metropolitan Iron and Land Company of 885,362 tons, against 1,078,788 tons in 1890. The News Record of Ironwood this week presents a drawing showing a cross section of the formation at the west end of the Norrie. Owners of the’ best iron properties on the Atikokan range, in the vicinity of Port Arthur, Ont., are said to have given to the representatives of Belgian capitalists, who have been at Port Arthur for some time past, an option for a lease of their lands. The foreigners have until November, 1892, to test the properties. Le Leading in Iron Ships, According to an advance synopsis of the report of William oW, Bates, commissioner of navigation, the documented tonnage _on the northern lakes June 30, 1891, was 1,154,870 tons. _ entire documented tonnage of the country is 4,648,759 tons, rep- The Iron vessels measuring 57,989 tons This is more than half Atlantic coast resented by 23,889 vessels. were built on the lakes during the year. of the iron vessels built in the entire country. _ shipyards built 46,265 tons of iron and there was built in all parts of the country 105,618 tons. The following table shows the tonnage, apportioned in respect to the several grand divisions of the country: ee ———_1888 ——— 1889 Grand divisions. No. Tons. No. Tons. No. Tons. No. Tons Atl’e & Gulf Coasts 604 83,168.43 57 93,912.24 663 156.755.99 218,392. Pacific coast:.......... 104 - 21,956.43 ‘112. 17,989. 93 12,334.92 122 19,069.84 Northern lakes...... 222 101,102.87 225 107,080.30 191 108,525.87 204 111,856.45 Western rivers...... 84 11,859.15 83° * 12,202.36 104 16,505.98 114 = 19,983.54 Total............ 1,014 218,086.88 1,088 231,134.33 1,051 294,122.76 1,384 369,302.29 The documented iron tonnage on the lakes is 181,724 tons and on the seacoast 554,963 tons. ‘The entire documented iron tonnage, including that of the Western rivers, is 741,598.24 tons. The documented tonnage on the northern lakes June 30, 1891, was 1,154,870 tons; on the Western rivers, 308,345 tons; on the Pacific coast, 440,858 tons, and on the Atlantic and Gulf coasts, 2,780,683 tons. Collection of Brains and Energy. In many respects the Detroit deep waterways convention was a remarkable gathering. Business methods were combined with intelligence in the deliberations, and ex-Senator Palmer’s keen regard for humor was the cause of an occasional bright out- cropping in that line from the floor of the convention. While resolutions of all kinds were falling thick and fast upon the leg- islative committee, to be cast aside in view of the main aims of the convention, a delegate, gray bearded and otherwise vener- able in appearance, secured the floor and read the following: Resolved, That this convention most heartily approves the action of our government in aiding by loans of its credit the Pacific railways, at the period of the commencement of the work, when there was an apparent great necessity for that aid. And be it further Resolved, That the time has now arrived when the sums of money so loaned, and interest, amounting to $112,000,000, should be collected as soon as possible and devoted by the gov- ernment to the great waterways of the country. The Continental Iron’ Works, Brooklyn, N. Y., recently received an order for eight extra large corrugated furnaces for J. T. Ryerson & Sons, through Messrs Fraser & Chalmers of Chi- cago. They are to go in the new Masonic temple erected in that city,