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2 gi MARINE REVIEW. | é Iron Mining. VALUE OF LEADING STOCKS. Quoted by Chas. H. Potter & Co., No. 10g Superior St. Cleveland, O. Stocks. Par Value. Bid. Asked. Cleveland--Cliffs Iron Company.............. $100 oo oe vos, $ 75 00 ChaanpLo ni ton om pari yne-ueeeis alddaesvdeece.$ Bin Ow. Meat vga shinies 60 00 Sera aU et TG, COMPANY. <c.cnansaccersessatess- 25 00 43 00 45 00 PaGleoiMlnO Ml, COMPANY cess stseseesteescs-cce..: BOB OOhe te hl tines taere 100 OO Lake Superior Iron Company..............00 25 00 44 00 47 00 Minnesota Iron! Com pany ite: .ii.06¥. sels NOGTEOOM GIT WEES 75 OO Pittsburgh & Lake Angeline Iron Co... 2500. sareeeese 150 00 SenUpMGe rons Comipatiyans schist st coo: DRM oe cak pikes canes 20 00 PPPAGUULAMG te cays she cc vee noa Wess f use Mek SA sche 2k. CeO ot alle Cals SScuete Ty Caen. vee Section. hinty-three.y. sen ee eee De OO se ee 7 50 Bro cwertor.s . HAF SSE Oa dete kG ZSROO: EA TEE aks 2 50 MOO eat deh seit Ji 2S hankwaiea ue Ie enehe ce 25 00 OU eTis 2 25 About the only announcement of importance among iron ore producers is the reinstatement of Ferdinand Schlesinger in full control of the big Chapin property, referred to at some length elsewhere in this issue. Some stocks are again quoted lower, and notwithstanding the easy condition of the money market trading is very light. 'Transactions in Cleveland during the week have been confined to a few sales of the stock of the Lake Superior company, and there are no reports of activity elsewhere. Little more than an occasional circular from stock brokers is heard of trading in the Mesaba prospects. cular received in Cleveland a few days ago from a Chicago house quotes nominal prices on stocks of Mesaba companies aggrega- ting in capital $77,500,000. Shipments of iron ore from Two Harbors up to Wednesday, May 25,aggregated 100,049 gross tons of which 55,819 tons wast of the Chandler and 44,230 tons of the Minnesota grades. On the same date shipments from Ashland aggregated 207,008 tons, divided as follows: Brotherton 8,113 tons, Carey 4,393, East Norrie 21,367, Newport 8,852, Norie 53,605, Pabst 11,921, Sun- day Lake 11,338, Aspland 14,411, Aurora 39,386, Colby No. 2 6,751, Tilden 19,431, Montreal; North vein, 1,281, Palms 6,153 About roo men have been laid off for an indfinite period by the Jackson Mining Company. 'The dull condition of the iron market is given as the cause. Some of the men, feeling confident of employment all their lives at this mine, the oldest in the Lake Superior district, had bought homes near the property of the company, but they will now be compelled to seek work elsewhere. Most of the miners discharged are, however, unmar- ried men. It is reported that the Commonwealth company has a con- tract.to deliver 169,000 tons of ore this season, and work at the Badger mine is accordingly being pushed very rapidly. Another open pit, 200 feet long and 100 feet wide, is being opened. With the removal of 4 to 8 feet of surface dirt a body of hard blue ore 80 feet in width and of indefinite length and depth is exposed. The company is making preparations to mine underneath this Outer A late announcement in connection with the Mesaba comes trom the workings of J. M. Longyear, a mile east of the village of Merritt, where a diamond drill struck ore 450 feet from the surface. 'The fact that the ore body was struck at such a depth in this location is considered of importance as showing that the formation is not flat, but pitches at 12 to 20 degrees, against 60 degrees and upward on the Gogebic. Rumors of a consolidation of the Hamilton and Ludington mines, Menominee range properties adjoining each other, which were flooded some time ago, have been going the rounds of the papers in the mining regions. _ Nothing of the kind has taken place, but it is probable the Hamilton company would buy the Ludington if there is to be a sale of any kind. Buffalo's "Wild Cat" Elevators. Vessel owners who complain about delay to their boats in unloading at elevators that make direct transfers into canal boats at Buffalo would seem to be justified in protesting against such loss of time. The elevators outside the Western Elevating Association are One cir-: transfering grain from vessel to canal boats at 36 cent a bushel which is % cent less than the price charged by the association. | At present there are but two outside elevators, the Cyclone and Heffords. 'The Cyclone when it is'not delayed waiting for boat will transfer at the average rate of about 4000 bushels per hour. Heffords is slower, how much slower we cannot say. On ac- count of the difference in price of transfering, all grain arriving at Buffalo for transshipment by canal is ordered to one or the other of these "wild cat" elevators, mostly to the Cyclone. If there is no delay waiting for elevators or canal boats, the un- loading at best is slow, but if the vessel has to wait for her turn at the elevator and then wait for boats, the delay is annoying and expensive 'There seems to be but one way of avoiding these elevators and that is to have it written in the bill of lading that the cargo must be unloaded at a storage elevator. Classification and Values of New Boats. | Four large carriers, three wooden and one steel, and three small ones are included in the June supplement of the Inland - Lloyds Register. The lengthened Spokane appears also with her net tonnage increased from 1,465 to 1,975. The Choctaw is of the new monitor class and the J. J Hillis intended for coast ser- vice, although she will probably remain on the lakes this sea- son. Ar is the standard grade and the * is added to indicate that hulls are metal banded or strapped. 'The new boats with tonnage, value, etc., are as follows: : Name of vessel, Class. Gan e.| Value. | Owner and port of hail. Cre: Istelimanh sss. s. Al* | 1,706 | $130,000 |Stewart and others, Detroit (CUNO 262 laneantiiceansedan Al 1,256 150,000 |Lake Superior Iron Co., Cleveland. Seca LEE ec cuciee oe os ie Al* 786 80,000 |Morley,Marine City,Mich. TOQUONS a savadteesasiea.c).- Al* | 1,470 110,000 |Curtis & Brainard, Toledo. Goll bias esiccae tise PET ae esas ....{ 930,000 |Murphy, Buffalo. Be wen dala... 02-2 Al* 264 30,000 |J. E. Mills, Cleveland. Ovali Apitator jcc... Ael 94 14,000 |Booth Pack. Co., Chicago. MM ottailisiceeessete actos: ; 5,576 | $544,000 Death of a Chicago Line Agent. . No nobler man ever lived in Chicago than Daniel B. Lin- sted, agent of the Ogdensburg Transit Company, whose remains were followed to the grave Sunday by a host of friends. Mr. Linsted had a high order of good horse sense. He was honest and told the truth, and was ever ready to do good rather than evil. For years he had been in bad health, and all felt that his end was at hand, but his friends were none the less shocked when they learned of his death last Saturday. The Lake Line Agents' Association passed appropriate resolutions, and attended the funeral in a body, as did a large number i a edie of other marine men. LATE D. B. LINSTED. D. B. Linsted was born in Mt. Vernon, O., in 1846, served through the rebellion, practiced medicine, and in 1868 went to the Lake Superior region, where he became interested in transportation. From there he went to Cleveland with the old Northern Transportation Company, being transferred to Chicago as agent in 1869. In 1870 he became general agent of the Central Vermont Line. He was a prominent Mason. 'The appointment of Mr. Linsted's successor has not yet been made.