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MARINE REVIEW. 7 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 oo pieaners $ 75 00 Champion. Iron, Company.......nsscsietes. as AS OOyeshy fag creack. 2 60 00 SEICMets MOM. COMPANY gescees const ceccssots 25 00 42 00 45 00 Jackson Tron Company tie. .vesstlesetens ct DSROOs eee tree saeens 100 00 ~ Lake Superior Iron Companiy......:.....6666 25 00 44 00 47 00 Minnesota lrom Compatty:..c:...c..ei.cf sce TOOROO Wes es vo stasnsee 75 00 Pittsburgh & Lake Angeline Iron Co..... EMO ae ree 150 00 Repu plicsltom, Company cess <tsscastn sv 2510 yep oeehy Bil 19 00 Be SoMa Cl cers: stn costa. <0 5 fede Seer eaest cuttin ZS LOO ins, "tree eros cea siie wep tisncn ss NewLlOmieLhinty-thireeivs...04.0ocs eee DOOR! Maine 7 50 TMG ee UO ee ore set .e seo dudex. x sT ti oaths va hihie rede 25VOOR NY Ui geccebh cs 2 50 IN OTe Cteaaswce st aeesehe sect. .aooesuctowekcatocne DE NOOs aii ate caactac i) fii cea oh Following its annual meeting a short time ago, the Chand- ler company made a statement, which is understood to be -of a very favorable nature, although it has not been made public. The annual meeting of the Section Thirty-three company will be held this week. 'This company is understood to have about $6 a share in its treasury and there is some talk of another divi- dend for the stockholders. Aurora has declared a dividend of $i a share payable on the 15th inst. There is some improve- ment in the trade in mining shares, although buyers and sellers are still apart on most values, notwithstanding the low range of prices. A few sales of Republic, fora long time the stock of most favor in the market, have been made as low as $18.50. Duluth reports say that the Ohio Mining Company, the concern in which Ex-Governor Campbell and other politicians are interested, has closed a contract for mining on its properties at a royalty of 65 centsaton. 'The name of the second party to the contract is not given, so that some doubt attaches to the report. William Schlesinger, brother of Ferdinand, denies the statement that the new owners of the Chapin are negotiating for mining rights on the Cincinnati arid other Mes- aba properties. Kimberly's managers at the Biwabik still claim that they will conduct open pit mining with the steam shovel. A shovel now at Mesaba station will be used for stripping the surface and it is claimed that others of larger capacity will be secured later for mining purposes. _ Ferdinand Schlesinger sold the Chapin mine under a close money market and under financial disadvantages and regained control under an easy situation in money matters. He says, however, that confidence in an early improvement of the iron business had most to do with the late purchase. There are - some people in the iron ore business who agree with Mr. Schleshinger that July or August must show a marked change in the iron trade generally. The tendency toward reduced profitsin mining, the change from iron to steel and concentration of large interests in the business are all features that are looked upon favorably by big mining companies. Shipments of iron ore from Two Harbors up to Wednesday, May 25,aggregated 143,814 gross tons, of which 77,774 tons was of the Chandler and 66,040 tons of the Minnesota grades. On the same date shipments from Ashland aggregated 263,628 tons, divided as follows: Ashland 33,989 tons, Aurora 54,758, Colby No. 2 9,230, Tilden 28,164, Iron Belt 4,428, Montreal, North vein 4,041, Palms 9,424, Brotherton 8,113, Carey 4,393, East Norrie 21,367, Newport 8,852, Norrie 53,605, Pabst 11,621, Sun- Gay ake rT, 335" The first real shipments from the Iron Belt mine, Gogebic range, since the close of the season of r890 were made on Mon- day of last week. 'The force has been increased by the addition of about 300 men. 'The mine has about 100,000 tons in stock and is in excellent shape for producing ore. Great Engine Power. The chief motive power for the machinery at the World's Columbian Exposition will be supplied by a large engine, to be furnished free to the exposition by the E. P. Allis Company of Milwaukee. 'The engine will be furnished as a part of the com- pany's exhibit, upon a special contract providing that it shall be used for the motive power, and that no other engine of equal size shall be exhibited. It will be an engine of the quadruple expansion type, and will be of between 3,000 and 4,000 horse power. Compared with this engine the big Corliss that was ex- hibited at the Centennial Exposition is almost a dwarf. In 1876 the Corliss was considered one of the wonders of the exposition, but its builder rated it at only 1,400 horse power, or less than half of the one being being built by the Allis company. 'The Allis exhibit represents an outlay of $175,000. Carelessness. The REVIEW receives occasional communications from mas- ters complaining of carelessness of other masters in narrow channels, in docks or in rivers. As these complaints must be prejudiced they are not usually published but the one below is used as an example, showing that ungentlemanly conduct of the captain on board of a vessel is worse than such conduct ashore, for the whole vessel displays his actions in their worst light. The complainant, an old lake captain, states that while standing on the dock at the Sault canal, May 28, there were a number of vessels waiting their turn to lock through, several being aground, and three or four awaiting examination of draft by canal author- ities. Most of them had lines out on the dock. At this timea new steamer, bound up and loaded, left the lock and was soon going full speed. The captain paid no attention to the other vessels, and as a result those that were not aground broke their lines. Captains on the boats farther up saw the runaway and put out extra lines, only to have them broken also. Appeals and swear- words had no effect on the new captain of this new boat. 'The writer refers to captains of the Fayette Brown, Colgate Hoyt and consorts and superintendent of the locks for verification of the statement, and asks if the owners of the new steamer should not pay for the broken lines. With large and powerful steamers captains get into tight places sometimes and do things that seem necessary to clear their boats which they afterward regret as much as those who suffer for it. 'The KE. M. B. A. fellowship and rules on this subject have done more good than the passage of some law mak- ing careless navigation criminal. It is to be hoped that its in- fluence will be extended to more masters. Heavy Canal Traffic During the Month of May. Freight passing through the St. Mary's Falls canal during the month of May aggregated 1,535,068 net tons, of which 1,078,796 tons was eastbound and 456- 272 tons westbound. The traffic was divided as follows: Eastbound. Westbound. (Coa ers sacaitactite res fe Sanuace aveOeentenatensers cee site 401,729 tons. OUT LARA eS ddeds Adan at anne. « 687,685 bbls 80. bbls. GRAD ps es ee cc sec dahaahcceus vase nice Peas snobs taee 5,623 bu. Gorn eo teecene ac ener e. we ses sae alee IOO KOR lobe F Bawsoscsde VVC AUS. . Sicditec tee ne tdcess ae Rta... 1405,847 bus 9-) 2 Se. BU Can Pa BLOM Ec ces enod-< cartes seep S SSE POMS sets iesiy-tecsees WOM Wel sa can. sseeet Casco specie muscacs ego!) WORM Ry 2 donponecn Mianiiiaetuned einer \ataet steers sseesene oes se 5,279 tons Thom, ORG sscen ae hiscee ee phe neeoee 508,341 tons. --. sss. ses. TRG MeL O\cnaetdens<nersde cg. fede cc ceunee A MCLODS crete sesh scene Sault eee ieeneed sca i oe EE Aa A Aeneas 50,010 bbls bith erat sets she ehcn yh: oak icced: Spteres sessed peerage. cyt i deewees UViel ONCe sere wearwascaeedtcioss once SOOMOM Ss a eee ee Or Uuclassified freight... /... 2.0.02... 19,484 tons. 39,636 tons. Passen Gets yaa. ot onineamasetls candies: « 2D 921 The movement of wheat and coal to and from the head of the lakes, as shown in the above statement, is probably much heavier than was expected. Grain at Chicago and Duluth. Stocks of grain at Chicago and Duluth on Monday, June 6, were as follows: Chicago. Duluth. Wheat, bu. Corn, bu. All wheat, bu. Jing Stone. ten ccartia test ih ecs ds cats oun eke 6,442,169 1,614,733 4,283,937 DGcrease Jastu Week ....-dsicse>-ocsnsmnes NOU G Oi ae ceceesccsacs 687,068 Wniéreasetlastaweekei ait, so 42s .05h2.ss aesvte eke be 460,252 Meiers - Excess over same time last year...3,438,162 .........00. 1,642,900 Decrease compared with same time NISTAICIIE .Y.8s ote sete eet cedaele sonnei lees res ea'ase Cae hs jee le ai tner pe rmlintiie In addition to the above there is 1,154,346 bushels of oats, 176,530 bushels of rye and 16,951 bushels of barley in store in Chicago. Send 75 cents to the MARINE REVIEW for a Binder that will hold 52 numbers,