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MARINE REVIEW. 5 Iron Mining. VALUE OF LEADING STOCKS. Ounied by Chas. H. Potter & Co., No. rog Superior St. Cleveland, O. Stocks. Par Value. Bid. Asked. Cleveland--Cliffs Iron Company.............. $100 oo BP iaiecenes $ 78 oo Shanipion-lrousCompatyctssdissssccvaesas ee PESOOV Ms oor eis sc8is 70 00 Chandler ION COMPANY: sececevemsccceycetcerss 25 00 47 50 50 00 jacksounlrone COMmpally....cc:00:.ssetetrs ie B5MOOL a? Sheen tsts 100 00 Lake Superior Iron Company..........0..006 DEIOO r= ie OA A Sack *56 50 Minnesota Iroti Company........ss.ceecseesee 100 00 80 00 82 00 Pittsburg Lake Angeline Iron Co........... 25 00 TROPOO! oh dete eso wess Repubicslrom COMPANY ag. soc-.cscrssccnsees- 25.00 24 00 25 25 ENS MUI eremenetereree ses crscnrel <a «oi tonc oe beens SI Os aed eas Ree seas cts SectrOour Ph irby threeyeakeeshiks casteestleivas 25 00 6 00 8 00 BRO LM ERCOM Serene asande stare scare siees os sonas eae cs 25 00 2 50 3 00 * Ex. rights. . Lake Superior mining stocks show a little improvement in _ prices each week and there is more trading in the market than for some time past. The big Norrie company announces an extra dividend of $5 ashare and the famous Lake Angeline, which paid $25 a share last year, divided $3.50 a share for January, with every reason to expect that monthly dividends will continue as in the past. In the list of quotations Lake Superior is quoted "ex rights." As announced in a circular from the company, the capital is to be increased to 100,000 shares, an addition of 28,- ooo shares. Ofthis increase, 16,000 shares is held as treasury stock, while 12,000 shares is issued at par to stockholders with the right of one share of new stock for each six shares of old stock. _ Investors in the old line of Lake Superior mining securities are slow in showing any interest in the new Minnesota proper- ties, for the development of which two railways from Duluth are now being.constructed into the Mesaba range. Significance is, of course, attached to the preparations of the management of the Minnesota and Chandler mines, Vermillion range, for mining this year 600,000 tons at the former and 500,000 tons at the lat- ter mine, with possibly 50,000 or 75,000 tons more from the Pioneer and one or two smaller properties. Purchases of new locomotives and cars and the construction of new docks by the Duluth & Iron Range Railway are also considered of great im- portance in connection with the output of the Vermillion range next season, but whether the corporations controlling these mines have itt view any other development work on a large scale in either of the ranges is not known. 'The Mesaba prospects are being boomed, however, and agents in Duluth are making great efforts to sell shares at high prices. Following are a few quo- tations received recently from a Duiuth broker: Cincinnati Iron Company--Capital, $3,000,000; 120,000 shares; par value of shares, $25; treasury stock, 20,000 shares; all stock fully paid and non-assessable; selling price $5 per share.. Lewabik Iron Company--Capital, $3,000,000; 30,000 shares; par value of shares, $100; treasury stock, 10,000 shares; all stock paid and non-assessable; selling price, $31 per share. Mountain Iron Company--Capital, $2,000,000; par value of shares, $100: treas- ury stock, 10,000 shares; all stock fully paid and non-assess- able; selling price, $55 per share. A.A. Carpenter of Chicago, who is known as one of the leading lumber dealers of the country, is a controlling owner in the Ludington mine, which has been flooded for some time past. As yet the mine management has not been able to control the water and it would seem that extreme measures will be required to put the mine in working order. Supervising Inspectors and the Engineers. Egbert P. Watson, editor of the Engineer of New York, is a member of the Marine Engineers' Beneficial Association and is admitted to the annual conventions of the organization. He publishes in the current issue of his journal a report of the con- vention, which contains reference to the session of the engineers at which members of the board of supervising inspectors of steam vessels were present. This feature of the convention was not referred to in the last issue of the REVIEW, which contained a report of the meeting otherwise complete. On the arrival of the inspectors, President Galwey announced that the engineers might state any grievances they had, and below is a report of what followed from lake representatives: "Brother Thomas F. Dowd, Chicago, said that notwith- standing that some might say he was a professional kicker, the engineers employed on steamers and tugboats in his district la- bored under great disadvantages in being overworked. Their hours were too long, and undefined as to length, and there was really not enough men to handle the vessels, particularly if any accident occurred. 'Tugboats were run with only two men in the engine department, one engineer and one fireman, and they were on duty all hours. The local inspectors were not in fault, Brother Dowd held, and engineers had no complaint to make of them, but he said that some definite statement as to the hours of labor to be required of engineers of steam vessels should be made. 'Brother George Uhler of No. 69, New York, and national treasurer, spoke in much the same strain as regards short-handed crews in engine rooms on the great lakes, adding some testi- mony which he had received upon this subject. For his own part 'the had no complaint to make, as his vessel was fully manned, but for the good of the order at large it was evident that a re form was needed. Brother Uhler also spoke of the circumlocu- _ tion and red tape involved in prosecuting violations of the steamboat inspection laws, showing that it was practically im- possible to obtain a conviction under the present system. Papers were bandied about from one officer to another, each one protest- ing that it was out of his jurisdiction, the result being that noth- ing was done. Vessel owners knew this very well and simply defied prosecution. Brother Hinman of No. 57, Rondout, N.Y., said that something should be done in regard to the special li- cense clause, for as it was carried out at present, men who were wholly incompetent got into important places where skilled men were required. He mentioned an instance of a ferry boat in his district which proved his allegations, and showed the ae need of a stricter supervision of special license men. "Brother Lawrence Gebhart, No. 1, Buffalo, N. Y.; spoke of the inconsistencies of allowing persons to hold licenses merely because they could passa categorical examination, but were actually without the practical experience necessary to handle their engines successfully; he thought that more stringent exami- nation into the practical experience of candidates should be re- quired. "Brother J. B. Wood, No. 2, Cleveland, O., also spoke of fie inconsistency of granting licenses to men who could merely pass examinations, and cited a case where a man who was able to answer the questions put to him obtained a license as chief en- gineer in avery short time from his first essay as a marine en- gineer. He had actually been afloat only seven months and twenty days when he got a license as first assistant engineer, and the very next season obtained one as first class chief engineer. The speaker thought that this was a rank injustice to others, in which view many will be disposed to agree with him. "In reply. Gen. James A. Dumont, supervising inspector general returned thanks for the interview afforded, and said the department under his charge had always felt that the more they were able to do for steamboat men to ameliorate their condition, the better it was for all concerned, and that while he could not commit the department to any special changes, or to do all that was asked of it the department was disposed to doall that it could." Marine City's Branch of the E. M. B. A. Special Telegram to the MARINE REVIEW. MARINE City, Mich., Feb. 11--Marine City lodge, No. 8, was organized here last evening by Deputy Grand President Alex. R. Sinclair and Grand Financial Secretary W. A. Collier, assisted by Grand Officers R. EH. Gain and J, H. Ivers. Seven of the members are withdrawals from sister lodges and nineteen are newly elected. Officers elected are Thos. EH. Walker, president; Ed. Allum, first vice-president; Geo. A. Shaw, second vice-presi- dent; Richard A. Cottrell, treasurer; W. A. Scott, financial secretary; W. H. Brown, recording secretary. The appointed officers are: Charles H. Cart- right, chaplain; Walter Cottrell, marshal; Fred. G. Marsden, warden; An- drew Yax, sentinel.